Review on Xapo USD by francis fernandez
XAPO USD-revolutionizing the use of blockchain DEBIT CARD
When selecting a cryptographic debit card, the user must analyze the most convenient options for their personal finances, the security and feasibility of using the products offered by the crypto card market. For this you must have truthful and useful information that allows you to decide on the most convenient option.
The Xapo card is one of the products offered by the Xapo platform; an application created in the United States that pioneered the issuance of Bitcoin debit cards anchored to a Bitcoin wallet.
The main advantage of the Xapo card is that it offers its users the possibility of affiliating their card to the digital wallet of their choice; being able to make withdrawals and consumptions without the need to reconvert their cryptocurrencies to legal tender or vice versa.
When reloading the Xapo debit card with your conventional currency; the platform offers the user the possibility of converting their money to the application's cryptocurrency, at the current exchange rate at that time. However; this may be subject to payment of exchange fees.
The Xapo card is a physical card similar to conventional debit cards but with the property of being backed by Bitcoin cryptocurrencies.
Despite its functionality, the Xapo card is at a disadvantage with respect to its maintenance cost; since users must pay commissions for sending; inactivity and withdrawals made with your card. This makes it more expensive compared to its existing counterparts in the crypto market.
Another of its limitations is its lack of acceptance worldwide; Since the use of the Xapo card is only allowed in some jurisdictions such as: United States, United Kingdom and Europe. This puts it at a disadvantage relative to other blockchain debit cards in the industry.
Pros
- The Xapo wallet anchored to the card is accessible online and also offline for greater flexibility of use.
- Make the conversion from fiat currency to cryptocurrency at the current exchange rate immediately in the wallet of the application, without the need for exchanges.
Cons
- The Xapo card has a high cost compared to other debit cards on the market; some of which are free.
- Its use may be limited to some jurisdictions such as: United States, Europe or United Kingdom.
- The card is subject to payment of taxes and commissions for making withdrawals, shipments and for inactivity; this puts it at a disadvantage compared to blockchain technology cards on the market.
