On the servers of the Xapo, located in a specially equipped bunker, about 7% of all currently existing bitcoins are stored in the equivalent of $ 10 billion. Meanwhile, the size of the startup deposits exceeds the amounts that are on the accounts of 98% of US banks. The two clients told this to Bloomberg.
According to the CEO of CoinShares, Ryan Radloff, who deposited about $ 500 million in crypto-currency for safekeeping in the bunker, advanced electronic protections allow Xapo to safely store all private cryptographic keys of customers.
Everyone who isn’t keeping keys themselves is keeping them with Xapo. You couldn’t pay me to keep it with a bank.
Cold storage of bitcoins is located in a former military bunker in the mountains of Switzerland.
Getting bitcoins from there takes about two days. First, the company identifies the client and approves his request, and then manually signs transactions with private keys located at different points in the bunker.
Every part of their DNA is geared to security. Whenever we make big transfers they FaceTime us, we have duress words, if it’s big enough they’ll fly out to see us.
Founder, First Block
In addition, fingerprint scanners in the repository are equipped with heart rate sensors to exclude the possibility of using amputated hands.