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337 sats \ 3 replies \ @BitcoinMaxiNewsdotCom 19 Sep 2023 \ on: Any experiences with Xapo Bank? bitcoin
Best bank you can have in my experience. Of course they are not the same as self custody, what do people expect? They have to comply with regulations...
Even so, took me 5 minutes to set up account. Great customer service. Worldwide card with no foreign exchange fee on spending and 1.1% sats back...
Far better than any other crypto platform that offers card for spending, and the founder is Bitcoiner. Yes, they offer stable coins, cause it's a lifesaver in many countries...
People need to get real and stop thinking a bank can live up to their Maxi religion. Seriously. Xapo has been nothing but great for me, and you don't need to hold everything you own in there...
Was Lehman Brothers once one of the best banks in the world?
Mt. Gox Exchange was once the largest Bitcoin exchange in the world.
You can use banks, but you can't trust banks.
Trusting banks is a false start.
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Thanks for sharing your experience. If you don't mind me asking, have you been working with them for a long time?
I'm also curious as for the tax implications of spending BTC with their credit card. It surely means you are generating capital gains when your BTC gets converted to whatever fiat currency... and then I'm wondering how the cashback in sats would work as well tax wise.
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I cannot help you with tax stuff, but the bank will report to whatever country you live in...
Lehman brothers was hardly founded by a Bitcoin enthusiast. Xapo is as good as a bank gets within the existing framework in my experience...
$150 a year is cheap for what you get in return. ..
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