Post
Topic
Board Bitcoin Discussion
Re: Bitcoin insurance
by
IrishFutbol
on 24/03/2014, 14:09:29 UTC
Quite, I've yet to see any evidence that Xapo's insurers are insuring against loss of customer BTC through theft or incompetence on behalf of Xapo.
Is there some reason you don't consider the statements they make on their website to be evidence? From https://xapo.com/#aboutVault

In addition, the Vault is fully-insured, backed by Meridian Insurance. The insurance is provided at no charge to Vault users and covers all incidents that are not caused by you. For example, the insurance covers attacks by hackers, theft by a Xapo employee, a break-in at the physical vault location, and our bankruptcy. In this event, any bitcoins you lose will be replaced by Xapo. The only thing you’re not insured against are your own actions or error, for example, if you don’t follow basic security precautions (like picking “internet” for your password) or if you give you password to someone else who then steals your coins.

"Theft by a Xapo employee" is right there in the list.

No charge to users?

Is this just typical "Buy X and we'll throw in Y for free!" BS, or is Xapo planning to make money off of the deposited coins somehow?