Cryptocurrency

Xapo suspends purchases of cryptos with TDC

The custodian of wallets, cryptographic and Bitcoin, Xapo, is discontinuing support for credit card payments. Implying that Xapo suspends purchases of cryptos with TDC officially. In addition, it moved its operations to Gibraltar.

Through an announcement sent via e-mail on Friday, Xapo said that its users will not be able to add funds to your account through credit cards from 11 of June. In addition, bank transfers will only be supported above a certain minimum amount, depending on the location of the user.

“If you do a transfer, the application will detect your country of residence and shall specify the minimum amount”.

Says the announcement of the company

What new changes?

The announcement sent by Xapo to its customers says: “Please be assured that these changes will not affect the services of your wallet BTC of Xapo, and your BTC will remain secure with us (as always). The transfer of BTC input and output will not be affected at all.”

These changes come after Xapo announced on may 5 that would change in a bank’s digital by the end of 2020. Also will move its operations from California to Gibraltar, which offers a regulatory framework for the enterprises of cryptography, but it sets a high level of approval.

Earlier this month, a lawsuit was filed against Xapo and Crypto Exchange Indodax for allegedly having a coin stolen. The trader of cryptos that is behind the legal action is trying to force the bags to deliver about 500 Bitcoins it claims to have lost in a hack.

Announcement from Xapo

Announcement from Xapo via e-mail to its users.

“As you know, Xapo are becoming in a bank digital. We will be located in Gibraltar. In addition, we are expanding to offer customers an innovative and exclusive service of private banking digital – our most powerful new platform until now.“

What it means for you clients of Xapo?

“Unfortunately, this change means that we must discontinue some of the services we currently offer:

From 20/06/11 not be able to add funds to your account through a credit card. In addition, bank transfers will only be supported above a certain minimum account, depending on your location. If you make a transfer, the application will detect your country of residence and shall specify the minimum amount”.

“We apologize for any inconvenience our transition may cause”.

Conclusion

The ad concludes with a link to redirect to a page of questions to resolve the doubts of the customers of Xapo. In this way the platform, and, coming soon, bank, digital, Xapo, suspended purchases of cryptos with credit cards, and makes restrictions on the transfers and amounts of their clients in accordance with the location of the same.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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