Updated review – March 2025I originally wrote a review on September 23, 2024, after first testing Xapo Bank. Since then, I’ve used it regularly and consistently, and I feel it’s time for an updated perspective based on actual, long-term usage.I now use Xapo Bank as a hub for managing Bitcoin, USD holdings, and stock investments. The integration between BTC, USD, USDT, and the Lightning Network is excellent. Payments work seamlessly both in Norway and abroad, and the BTC buy/sell spread is tight enough for active use.The 3.9% interest on USD is also very attractive and gives me a solid place to store value between trades or while waiting for new investment opportunities. Combined with Lightning support, USDT on/off ramps, and access to global stocks, I believe the platform is well worth the $1,000 annual fee – especially given the functionality and efficiency it offers, even though I’m far from a whale.I store my long-term BTC in self-custody (multisig and single-sig), but I use Xapo to move in and out of BTC depending on fair price signals. I’ve also started using their fractional stock trading, and at a 0.5% fee, it’s become a practical way to diversify out of BTC in certain market phases.I haven’t needed to use the Vault yet, but I’ve set it up with two YubiKeys. My main request going forward is to allow YubiKey or stronger multi-factor security also for savings withdrawals – especially when larger amounts are involved. It would make me even more confident in keeping value on the platform.In short: Xapo has proven to be more than just a good Bitcoin bank – it’s become a flexible financial base for a BTC-forward strategy.Not your keys? No. But with careful limits, clear purpose, and multi-layered custody, it’s a tradeoff I’m comfortable with.
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Xapo Bank is the first fully licensed, Bitcoin-enabled bank that combines the security of traditional banking with access to Bitcoin and stablecoins. Regulated by the Gibraltar Financial Services Commission, Xapo Bank facilitates wider use cases for crypto by providing simple and secure ways to store, save, earn and transact in fiat and crypto across borders 24/7.
Established in 2013, Xapo Bank was founded on the belief in the long-term potential of Bitcoin. As the first crypto company in the world to be awarded a banking license, Xapo Bank has since evolved from an e-money wallet into a digital-first bank. Xapo Bank’s proprietary technology provides a seamless bridge between traditional finance and digital assets. Following the sale of its institutional custody business to Coinbase‘s custody arm in 2019, Xapo Bank pivoted to service solely retail customers, focusing on the protection, growth and diversification of wealth.
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