Secure vaults of this company store 6% of all Bitcoins

Xapo, a company which offers to store cryptocurrency hardware wallets in bunkers, is in the spotlight of the journalists again because of the new report in one of the financial outlets.

Wences Casares, director of the company, has told about his endeavor and it looks like that over the years, the corporation has managed to persuade at least several Silicon Valley business persons to use this service. This led to an interesting situation: six percents of all mined bitcoins are now stored in such vaults “on five continents”, although reports mainly show the photos of the Switzerland bunker we have already seen.

The leader of Xapo is also a board member of PayPal and he has founded one of the first online brokerages of Argentina, his country of origin.

These vaults have already been described by media outlets including Bitnewstoday. Another company in Australia offers to use old fiat money vaults for hardware wallets, due to the geographic boundaries it may be earning vast profits coming from the local population.

Hardware wallets are also secured with passwords, and the Winklevoss brothers have demonstrated an interesting way to further improve the funds security: the have used regular bank vaults to store the bits of the key to their fortune written on paper.

Image courtesy of Fabrice Coffrini / AFP / Getty Images