Xapo Debit Card Review
Let me start this post by saying that I believe a Bitcoin Debit Card is something all Steemians should have, it brings convenience to your every day life by been able to spend your earnings in a very simple form. Ideally one day we will have steem dollar debit cards, but for now you are gonna have to convert to bitcoin first.
So, I just received my Xapo debit card, the card cost me 20 USD and it got to my house in about 1 week with free shipping so I am quite happy about that. The feel and look of the card is pretty much the one of a standard My Choice Visa debit card, however they did set it to match the Xapo red and black colors.
So, now to the fun part...
I tried the card right away adding it to my Netflix account, it was smooth just like any other visa debit. I guess the plus side is that you are able to check every movement as it happens on xapo's app, you even get notified when you use it which is pretty cool.
You can also go direct to an ATM and withdraw money, this saves me a lot of time since I usually have to go to localbitcoins or some other exchange to change my bitcoins to my local currency.
The not so fun part
The debit card does come with certain fees, which are actually quite reasonable if you live in Europe or the U.S, but the rest of us need to pay a 3% fee for converting to our local currency. You also get charged 2.5 USD for withdrawing at an ATM.
Conclusion
Overall this is a very convenient card that allows you to see your movements and transfers as they happen, they also have a very good support and have been around for a while which should make you feel safe about leaving your money on their online wallet.
3%? That is pretty close to the average interchange fee paid by a business to accept Visa or MC.
I got a XAPO card recently as well and I'm very happy. I don't use it for ATMs and there is no fee for GBP purchases, so the costs are minimal for me which is great.
This is awesome. Great to see cryptocurrency making in-roads into mainstream fiat banking.
3% fee is not too bad for international withdrawals. I hope to see Xapo in more countries natively.
Now, where's that Steem debit card?
If i were i would go with e-coin cards , they are cheap & sometimes they offer 'em for free and fees are low .
Hi
We are working on the Steem Debit Card for a while
this is coming out by the end of the month
Check this
And the website.
If you feel you can contribute and want to join the team dont hesitate to come in the steemit.chat #steemdebitcard to follow the project updates and information
We won't need BTC anymore !