Cheaper and faster BTC payments: Xapo Bank integrates with the Lighting Network Bitcoin BTC LightningNetwork
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With this integration, Xapo users will be able to instantly pay for small purchases of up to $100 at any vendor that accepts Lightning payments and forego the high transaction fee and long confirmation time typically associated with Bitcoin. To help attract crypto holders, the bank offers an annual interest rate of 4.1% for US dollars and will soon be offering up to 1% on Bitcoin, divided over the year and paid out daily.
Users of Xapo Bank also maintain full control of their Bitcoin and have the ability to send, receive and hold Bitcoin directly. In order to utilize the Lightning Network to make payments, users will need to hold BTC in the Xapo Bank App, which will allow them to scan and pay an invoice at any merchant that accepts LN payments.
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