If you’re a Xapo user, you may have received an email last night from the company with a nice little announcement.
The bitcoin debit card and vault provider announced a little something they’re calling Xapo Deposit (perhaps aptly enough), a service that will allow users to acquire bitcoin on the Xapo platform via wire transfer.
The addition of the feature will allow Xapo’s users the ability to more easily get their hands on the digital currency, and thus requiring a place to store them (which is good for Xapo).
As one might come to expect, the process is really quite simple.
To make it happen, one logs into their Xapo account and then clicks on the Deposit button. They will then be required to fill out a deposit profile and will receive a reference code.
The user will then be able to initiate a wire transfer denominated in both U.S. dollars or Euros to Xapo.
From that point, Xapo will convert the funds to bitcoin and deposit them into the user’s wallet. The process is then complete and both parties are happy (hopefully).
Xapo describes the move as coming “full-circle” — which makes sense. With a fully-insured vault service and debit card out there, they’re certainly doing what they can to attract the scores of enthusiasts out there.
And so far, their work seems to be impressing its users.