After promising the official release of Bitcoin-based debit cards, Xapo became a crypto-currency darling. Sadly, however, the bloom went off the rose once users received word that their debit cards, connected to Xapo bitcoin wallets, would incur a number of transaction fees.
Now the company, run by Wences Casares, is taking to its blog to explain the terms. They write:
￼a one-time fee of US$15 in connection with ordering the card. That is still the case. Users who order the debit card will be charged US$15. This amount will be debited from your Xapo Wallet in bitcoins.
We do not, however, intend to charge monthly fees or fees for everyday spending. If our users are charged a monthly service fee, Xapo will reimburse that amount in bitcoins. So, if you use the Xapo Debit Card and are charged a monthly service fee by our third party provider, we will…