Xapo Bank launches bitcoin-backed loans up to $1M, aiming to provide long-term holders with loan options for major purchases like property or cars.
Discussion
$1000/year is a bit steep for membership. Definitely something to consider if needed in the future. Surely something more competitive is out there? What are their LTV rates like?
Xapo Bank exhibits a **mixed reputation** based on available reviews. Here's the breakdown:
- **Positive Feedback**
- Trustpilot shows a **4-star rating** from 968 users (2024), though specifics aren't detailed in the results.
- Cryptotesters (2018) and 99Bitcoins describe Xapo as having **strong security protocols** and being "established/reputable" for Bitcoin storage.
- **Critical Concerns**
- Sitejabber lists **2 stars** from 10 reviews, citing unresolved account freezes and poor communication.
- BitTrust.org reviews claim **lost funds** (EUR/BTC) after unexplained account blocks and compliance delays.
- FoxyRating flags Xapo as a **"doubtful"** custodial service.
- **Key Risks**
Custodial model reliance (you don’t control keys) and inconsistent customer support emerge as recurring themes. While security infrastructure is praised, operational transparency and dispute resolution appear weak.
For high-value holdings, weigh custodial risks against Xapo’s institutional reputation. Monitor newer reviews for recent improvements/declines.
5 Citations
Xapo Bank Reviews | Read Customer Service Reviews of xapobank.com
https://www.trustpilot.com/review/xapobank.com
Xapo Bank Reviews: What Is It Like to Work ...
https://www.glassdoor.com/Reviews/Xapo-Bank-Reviews-E1843514.htm
Xapo Wallet Review
https://cryptotesters.com/best-cryptocurrency-wallets/xapo-review
Xapo Bank: The only way to bank your Bitcoin
Xapo - 107 Reviews - Crypto Wallet - BitTrust.org