FAQsSafety and security

Safety and security

Where can I get a physical hardware security key?
You can easily purchase a physical security key online. Read this quick guide to learn more.
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Avoiding crypto scams
Safeguarding your account and the wealth entrusted to our care is a priority for us at Xapo Bank. We have put measures in place to secure your account, in view of the global rise in scams and fraud incidents.
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Can I use my Ledger as a hardware security key?
All versions of Ledger are currently supported to secure your Xapo Bank Bitcoin withdrawals. Learn more below.
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Who can I share my anti-phishing email code with?
Your Anti-Phishing Email Code should remain confidential and must not be shared with anyone, including Xapo Bank’s support team.
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When I tap the security key on my phone, I receive a notification to link and nothing else happens
Your hardware security key's OTP feature is attempting to send a code to your phone, but Xapo Bank does not use OTP. We only support FIDO U2F/FIDO2 authentication.
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Why does Xapo require proof of source of funds?
Source of Funds (SoF) checks are key for us to understand where your money is coming from when it arrives in your Xapo account.
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Can I change my anti-phishing email code?
Yes, you can change your Anti-Phishing Email Code at any time in the “Security & Privacy” settings under the “Anti-Phishing Code” section. We recommend changing your code periodically to maintain security, especially if you suspect it has been compromised
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How does geolocation work and why we use it?
We have a duty to protect your Xapo Bank account from being targeted by fraudsters. One of the measures we use to protect your account is geolocation.
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Why does the app and website look different in United Kingdom?
The United Kingdom Financial Conduct Authority (FCA) have changed the categorisation of cryptoassets so that they are now categorised as “Restricted Mass Market investments”. As a result of this we now have to display risk warnings prominently across our website and the Xapo Bank app.
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Is a hardware security key similar to multisig?
Not exactly. Multisig uses multiple private keys to sign blockchain transactions while hardware security keys are used for multi-factor authentication and are not directly related to blockchain technology.
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What is the anti-phishing email code?
The Anti-Phishing Email Code is a security feature that helps protect your account from phishing attempts. Once you set up a unique code (up to 20 characters), it will be included in all legitimate emails and SMS messages from us.
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How do I set up my anti-phishing email code?
You can set up your Anti-Phishing Email Code by going to the “Security & Privacy” settings in your account. Choose the “Anti-Phishing Code” section.
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Can I use my Trezor as a hardware security key?
You can use your Ledger to secure your Xapo Bank Bitcoin withdrawals. Learn how below.
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What should I do if I receive an email or SMS without my anti-phishing email code?
If you receive a message claiming to be from us without your Anti-Phishing Email Code, do not respond or click on any links. This could be a phishing attempt.
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What happens if I forgot my anti-phishing email code?
If you forget your Anti-Phishing Email Code, you can reset it in your account settings under the “Security & Privacy” section.
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When I tap the security key on my phone, I receive a notification “NFC tag detected” nothing else happens?
This can happen if your phone treats the hardware key as a generic NFC tag instead of triggering the intended action (e.g., FIDO2 authentication).
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What is a safe-haven currency?
A safe-haven currency is one that maintains its value during economic instability. It is a good investment to park your wealth in, as you can be sure that it will keep the same purchasing power (or gain more) over time.
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How does Xapo Bank integrate with Hardware Security Keys?
A hardware security key is a physical device used for two-factor authentication. It adds an extra layer of security by requiring physical confirmation to access accounts, protecting against hacking and phishing attacks.
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