Review on Xapo GBP by Benaiah A. Akinlade
Xapo GBP: Just a little bit more and it’s perfect
The Xapo Card is a prepaid VISA card that allows you to load funds from your bitcoin wallets. You can also convert your fiat currencies to bitcoin. The card comes in two forms:
i. virtual card and
ii. plastic card
Points to note about the card
- The card costs £15 and it has a 3% fee on foreign currency conversions.
- You pay an annual fee on the card, such as an annual fee which is not charged for the first year.
- When you withdraw on ATMs, you pay a higher fee charge
- If your card is inactive, there is a penalty charge, or tax you pay on the card
- You can get your replacement card delivered by DHL for a fee.
- The only cryptocurrency the card currently accepts is Bitcoin
My take:
The card should adopt more crypto currencies and try to reduce some of the charges so as to make it affordable for more people
Pros
- The card is easy to use
- There is no limit to withdrawal
- It allows fiat/crypto exchange
Cons
- The only crypto it accepts is bitcoin
- The charge on foreign transactions is unnecessary
- High fees charge for ATM transactions
- Cost of obtaining the card is too high
