Xapo Moves Headquarters to Switzerland
- Bitcoin wallet and payment card services provider Xapo has announced that it is moving its headquarters to Zurich, Switzerland.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet and payment card services provider Xapo has announced that it is moving its headquarters to Zurich, Switzerland.
The stated rationale was to have its center of operations closer to its security infrastructure, per requests by its customer base. Bitcoins held under Xapo's care are stored in Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term vaults, which the startup previously described as "housed in radio wave-blocking Faraday cages and secured behind military-grade security controls deep within reinforced underground bunkers.”
The company has taken a recent emphasis on security, earlier announcing its adoption of multisignature technology and entering a partnership that may see parts of its infrastructure moved to space. It says to have incorporated additional security protocols to prevent theft via phishing or social engineering. It noted how makeshift security strategies, occasionally employed by businesses dealing in bitcoin, are inadequate, drawing an analogy to the fiat world:
"While it should be unimaginable that major institutions would hold millions of dollars in cash, many corporations today still follow an analogous practice with respect to bitcoin by using insecure storage techniques like paper wallets or printed key backups."
Xapo joins several other cryptocurrency startups reportedly setting up shop in Switzerland. It cited Zurich's position as a global financial center, as well as Switzerland's international neutrality, as additional reasons for its choice. It will continue to maintain a small presence in Palo Alto, California to service its US clients.
Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet and payment card services provider Xapo has announced that it is moving its headquarters to Zurich, Switzerland.
The stated rationale was to have its center of operations closer to its security infrastructure, per requests by its customer base. Bitcoins held under Xapo's care are stored in Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term vaults, which the startup previously described as "housed in radio wave-blocking Faraday cages and secured behind military-grade security controls deep within reinforced underground bunkers.”
The company has taken a recent emphasis on security, earlier announcing its adoption of multisignature technology and entering a partnership that may see parts of its infrastructure moved to space. It says to have incorporated additional security protocols to prevent theft via phishing or social engineering. It noted how makeshift security strategies, occasionally employed by businesses dealing in bitcoin, are inadequate, drawing an analogy to the fiat world:
"While it should be unimaginable that major institutions would hold millions of dollars in cash, many corporations today still follow an analogous practice with respect to bitcoin by using insecure storage techniques like paper wallets or printed key backups."
Xapo joins several other cryptocurrency startups reportedly setting up shop in Switzerland. It cited Zurich's position as a global financial center, as well as Switzerland's international neutrality, as additional reasons for its choice. It will continue to maintain a small presence in Palo Alto, California to service its US clients.