Cryptocurrency has changed the vision regarding most of the system currency working. But, there is not much speculation about any other system than there is for banks. Everyone is wondering about the future of the banks. However, in the middle of this crypto wave banks, some banks have decided to ride along this wave. And this guide will explore those banks receding in the US and UK. Most of these banks are known as the Crypto friendly banks. So, let’s get started.
Best Crypto Friendly banks
|1||BankProv||US||Full-service USD banking solutions for crypto-related businesses|
|2||QUONTIC||NYC||New York-based digital bank offering the first ever Bitcoin Rewards checking account.|
|4||Juno||US||Full-service USD banking solutions for cryptocurrencies|
|5||CHASE||USA||Chase Bank allows users to connect to the Coinbase exchange to buy and sell cryptocurrencies.|
|7||Coinbase||Global||Digital wallet and exchange|
|8||Wirexapp||UK & Europe Region||Crypto exchange|
|9||Binance||Global||Exchange and Bank cum wallet|
|10||GOLDMAN SACHS||New York||NYC-based multinational investment bank|
List of the best cryptocurrency friendly banks
Wirexapp is a crypto-friendly bank based in the UK. It provides services for buying and selling cryptocurrencies. Eventually, the bank offers master cards to its users to spend 21 cryptocurrencies in real-time. The bank allows its users to buy, store, and manage the crypto bodies the traditional money. Providing the services like credit cards, debit cards, bank transfers, and exchange of translational and cryptocurrency, the bank has become one of the most celebrated banks among crypto users.
The citizens of the UK only require a valid government ID and photo to avail of the services of the bank.
Based in the US, BankProv is yet another crypto-friendly bank. The current bank is the rebranding of Provident Bank, a popular traditional banking company. It is now offering traditional banking solutions to crypto-related businesses, which typically face banking challenges. BankProv provides business checking accounts, making it extremely simple for crypto businesses to oversee their finances in both the traditional and crypto worlds. The basic features of the bank include the features like 100% fully insured dollar deposits crypto lending option, a wide range of payments, 24/7 client-to-clients transfer, and much more.
Coinbase operates in both the US and UK, but it also functions across the globe. It provides an online platform for its users to trade cryptocurrency. The basic features of the bank include the platforms that let its users trade and track the digital bank friendly cryptocurrency at their fingertips. The users can schedule their daily, weekly, and monthly trading without any hustle and bustle. Not only that, every user can get a free $5 worth of bitcoin during their first sign-up with the bank. The users only require a valid ID and photograph to have a bank account.
Another bank to function in both the US and UK as well as all the long is the Binance. Binance provides all the major functionalities to its users that crypto users can expect all the services that a major traditional bank can provide. However, the difference is this bank lets its users trade crypto. Due to all the benefits that it provides to its users the bank crypto friendly has more than 60 million users worldwide. The users can also expect lower transaction fees, flexible interest, and multiple trading platforms.
Residing in the United State, Ally bank is also a crypto friendly bank. Crypto enthusiasts in the United States can check the bank 24×7. The bank permits its users to purchase and sell crypto with the help of Coinbase. The users can trade and exchange the money here too, just like any other crypto bank. However, the big difference that the bank offers is the 2.7% annual interest that its users can receive on the invested money. Moreover, users can expect full-service banks offering saving products and retirement services along with loans.
Started in the UK, but now also operating in other countries, the bank is among the cryptocurrency friendly banks that give a mode to the users to trade and exchange digital currencies with a single swipe. The users can trade their money tension free as the bank imposes no hidden fees. The users of the bank praise its simple mode, operation, and equality for every user. Other than the basic trading features the bank provides the users with SWIFT and SEPA Transfer. The bank has recently expanded its services and now as a result, the users can trade more than 30 currencies on its platform.
The main purpose of the crypto-friendly bank is to help people grow and reach their financial goals easier and faster with cryptocurrency. The bank currency serves its customers in trading, storing, and exchanging currencies like BTC, ETH, USDC, and Polygon. The key features of the bank include the non-minimum balance limit, and the USD cash balance of the users is protected by FDIC insurance. Not only this, but the users can also expect the lighting fast interaction transfer at bare minimum fees.
Mainly operating in the UK and Europe, Bankera is one of the excellent crypto friendly banks for the blockchain era. It is one of the most crypto friendly business banks to bridge the gap between traditional banking as well as blockchain technology. And it is very competent to do so because they have experience developing -SpectroCoin. The SpectroCoin is a crypto wallet and exchange.
The bank has similarities to conventional brick-and-mortar banks, however, it will be built on fresh blockchain/AI technology. The process is still ongoing, and it is expected to be completed within a year or so.
USAA or the United Services Automobile Association, previously the bank was a financial service serving only the US military personnel. It is a Fortune 500 company that serves active, retired, and honorably separated officers and enlisted members of the United States military.
However, now the bank allows civilians to open a crypto friendly business bank account. It has invested $150 million in Coinbase, allowing USAA bank account holders to easily interact with Coinbase’s Bitcoin account. The bank permits the users to fully track the digital currency using their USA account. The key feature of the bank is the security it provides for digital currencies.
Barclays, the UK’s largest investment and one of the best crypto friendly banks, is particularly interested in digital currencies as well as blockchain technology. In collaboration with Coinbase, they enable UK residents to trade cryptocurrencies through different banking services.
Furthermore, it is looking into other ways to use blockchain technology to secure cryptocurrency in the conventional realm. Recently the bank has launched its social-economic agenda and committed itself to helping the communities grow equally. The is also one of the first banks in the UK aimed to help the business go crypto and grow in the most fruitful direction.
There is a list of the most crypto friendly banks operating in the US and UK. Creating an account with all of these banks is easy. So, any users having valid documents can start monitoring their cryptocurrency right after creating an account.
Few more banks that are cryptocurrency friendly
- Ally Bank
- Simple Bank
- National Bank Of Canada
- Goldman Sachs
- Fidor Bank
- Change Bank
Chime Bank and Goldman sach allow crypt purchases in US.
For now, only digital banks like Coinbase and Binance accepting cryptocurrency.