A Bitcoin safe is a savings account that uses cold rooms to keep your money safe. For this reason, we at CriptoTendencia would like to inform you about this tool and concentrate on how you can configure your own Bitcoin safe with Xapo.
Find out more about Xapo and its Bitcoin safe
Xapo is a service for buying Bitcoin online with advanced security elements. In addition to a bitcoin exchange, it can be defined as a bitcoin wallet and vault with multiple security factors, making it one of the most solid services in this area.
The Xapo Vault implements cold storage and is the preferred storage solution for many of the most powerful institutions and employees in the world. It has the largest existing Bitcoin store.
Cold storage is the offline storage of funds in order to make them safe and inaccessible.
On the other hand, it is a kind of cold store, in which not only the funds are stored offline, but also the system to which the funds belong has never been online or connected to a network.
For users who need to raise the security bar, Xapo now offers a Bitcoin safe with sophisticated security features. You can simply transfer the money from your wallet to a safe and, of course, pay a price for the service.
This modality includes elements of cryptographic security to insure your capital. This includes multi-factor authentication and segmentation of private keys.
According to the information on its website, the Bitcoin Xapo vault is located underground in geographically distributed areas on three continents. Cryptographic material and private keys are also stored cold. In other words, this data is on servers that are not connected to the Internet.
It also explains that Xapo puts his money on a computer that he never has and that will never have access to the Internet when the user transfers his money to his Bitcoin vault.
Then they encrypt all data, separate them into different fragments and copy them to external drives. These backups are kept securely in physical vaults in geographically dispersed locations, as mentioned above.
The vault was originally created for Bitcoin, although a vault was developed that is compatible with global storage.