Why did the yield on BTC savings decrease? (UK residents)
BTC Savings will continue to offer interest, although at a lower rate, given that it remains a risk-free product. It remains a simple way to grow your Bitcoin.
Why are you keeping the BTC Savings cap and reducing the yield after previously saying the cap would be removed?
In 2024, we shared our intention to remove the 5 BTC cap on BTC Savings. At the time, we were still exploring how to offer more meaningful returns. BTC Savings has always been funded by Xapo Bank’s own reserves, with your Bitcoin remaining untouched. It was designed as a simple way to earn on your holdings.
Will the BTC Savings yield continue to shift, and is this yield variable?
Yes, the BTC Savings yield is variable and may change over time. As this feature is risk-free and your Bitcoin remains untouched, the yield will typically stay within the 0.1% to 0.5% range.
How do you generate the 0.5% BTC Savings yield?
Xapo Bank subsidises the BTC Savings yield. We use our own reserves to generate returns and share a portion of that yield with you. Your Bitcoin remains untouched throughout the process.
Is the BTC Savings product being closed?
No, BTC Savings is not being closed. It will continue to offer interest, although at a lower rate, given that it remains a risk-free product in which your Bitcoin is never touched. BTC Savings remains a simple way to start growing your Bitcoin.
Is Xapo Bank in financial trouble, given that the BTC Savings yield is being reduced?
No, Xapo Bank is not in financial trouble. The change to the BTC Savings yield reflects a shift in how we’re helping members grow their Bitcoin.
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