The Big "Non-custodial" Crypto Neobank Lie

I shouldn't have to say this, but "Non-Custodial" crypto neobanks... Give us our keys.

The crypto industry has spent over a decade drilling one golden rule into everyone's heads: not your keys, not your coins.

If your Crypto Card forces you to delete and nuke your account to see it... I suggest using a different bank. They have a reason for it, but I believe it's lazy.

Here's the excuse they give: Card networks rely on off-chain payment approvals. If you hold the raw private key, you could swipe the card in a store and simultaneously drain the wallet on-chain. To kill that double-spend risk, they nuke your card account the moment you export.

But this is a fixable issue, and it feels like the Neobanks want the benefit of non-custody wallets (less compliance headaches) while running it like it is a custodial wallet.

The double-spend problem is entirely fixable using smart contract wallets and account abstraction. Coca Card just fixed this, and Gnosis Pay has done it for a while; heck, Oobit even allows third-party integrations.

It's entirely possible to keep absolute control of your keys, and the issuer is protected from simultaneous spend exploits.

Let's stop playing pretend.

Coca Card is not a perfect wallet, but they are my top pick right now and the card I primarily use. Today, they released an update that most won't care about, but I believe is major.

Private Key Exports

You can now export your private keys for both the Crypto and Banking sections. Go to Profile → Security → View Private Keys, select an account, and tap Copy Key.

More of this, please.