📢 Nostr Post: Xapo Bank – Your Experience?
“Hey Nostr community! 👋 I’ve been testing Xapo Bank for a while now and wanted to share my thoughts while also hearing from others.
✅ What I Like:
• 4% APY on USD and 1% APY on BTC – solid yield compared to alternatives.
• Lightning integration – makes spending BTC seamless.
• Mastercard with BTC & USD spending – works well, but I’m still testing FX rates.
• Competitive FX rates, but I’m keeping an eye on real-world performance.
❌ Concerns & Limitations:
• Not your keys, not your coins – I don’t feel comfortable putting too much BTC in any bank.
• KYC & custodial risk – it’s convenient, but still a centralized entity.
• Withdrawal limits & fees – still assessing if there are any unexpected costs.
• Mastercard FX rates & cashback – seem decent, but I wonder if there’s a hidden spread.
❓ Open Questions:
• How do you handle tax reporting for BTC to USD swaps?
• Do you use Xapo as a primary spending account, or just for specific purposes?
• How do their FX rates compare to alternatives over time?
• What other solutions do you use for BTC & USD banking?
• Any thoughts on Xapo Mastercard vs. other BTC debit cards?
Would love to hear your experiences! ⚡ #Xapo #Bitcoin #Lightning #BitcoinBanking #NotYourKeysNotYourCoins”
