Xapo Bank Review – Don’t use Xapo Wallet until you read this

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Xapo is a private bank that provides USD and bitcoin accounts along with a Xapo debit card in over 100 countries worldwide. You will receive a USD account number and a bitcoin address once you open a Xapo account, and the bank offers up to 2% yield on your holdings. Although Xapo is a regulated bank based in Gibraltar, you can open an account from anywhere in the world.

Founded in 2012 by Federico Murrone and Wenceslao Casares, Xapo originally operated as a bitcoin wallet and cryptocurrency custodian. In 2018, it was acquired by Coinbase for its crypto custody services. Xapo offers several innovative and attractive features, including:

  1. State-of-the-art protection for you and your wealth in a secure Swiss Alps vault
  2. 24/7 customer support
  3. International bank account for USD and bitcoin
  4. Up to 1.1% cashback on Xapo card purchases
  5. Fee-free multi-currency card transactions calculated in USD by Visa or Mastercard
  6. Access to airport lounges while traveling
  7. Free monthly ATM withdrawals up to $100
  8. Boingo Wi-Fi for Xapo cardholders

According to Xapo’s founder, bitcoin is a non-political standard of value and settlement that could eventually replace other currencies.

To join Xapo, you must be at least 18 years old, have a valid passport, proof of address, source of funds, and $150 to cover the annual fee. Download the Xapo app for Android or iOS to sign up.

The Xapo debit card is a bitcoin-based debit card available in over 100 countries. It allows users to spend bitcoins at any merchant that accepts Visa, with no additional fees for foreign currency transactions.

The card also offers cashback, fee-free ATM withdrawals up to $100, airport lounge access, and global Wi-Fi. To withdraw money from Xapo, you can either transfer it to your bank account or withdraw it as bitcoin.

There may be fees imposed by your local bank for wire transfers. You can deposit money into Xapo using either a wire transfer or bitcoin.

As a crypto bank, Xapo allows you to buy cryptocurrency through its app. First, add funds to your Xapo USD wallet, then use the dollars to purchase bitcoin within the app.

Xapo sets its own prices for buying and selling bitcoin, which may vary. Xapo’s bitcoin wallet can be accessed through the Xapo app or online, supports 2-Factor Authentication, and only supports bitcoin.

In summary, Xapo is a private bank that offers USD and bitcoin accounts, a Xapo debit card, and various innovative features.

To join Xapo, you need to be at least 18 years old, have a valid passport and proof of address, and have a source of funds.

The Xapo debit card allows users to spend bitcoins at merchants that accept Visa, with various benefits like cashback, fee-free ATM withdrawals, and airport lounge access.

To withdraw money from Xapo, you can either transfer it to your bank account or withdraw it as bitcoin. Xapo also allows you to buy bitcoin through its app.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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