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It’s not surprising that the title of this article feels strange to all of you because it says something unique to few people. Some of you might be thinking that the invention of Crypto came due to presenting an alternative of traditional Banks and developing a new system for all the nations worldwide.
That’s not false; even it’s still a fact. Few lines that can define Crypto precisely are that it has been developed to create a reliable and more secure alternative to traditional banking. Existing banking systems are the main source that takes Bitcoin to such heights where it will never go without the help of banks. Therefore, our banking structure is the actual base for Bitcoin that higher it’s position and it’s become top currency worldwide today.
Millions of wealthiest investors around the world who want to invest in Bitcoin easily do this process by using their debit cards and credit cards. In every aspect, banks help them a lot but they don’t realize the actual purpose of Bitcoin, some may start assuming that it’s like an investment cycle that gives us opportunity to buy something at low and sell it at high. There are several assumptions regarding Bitcoin but in actual it is much more than we’re thinking.
It was beyond our thinking but banks realized the capabilities of Crypto and Bitcoin, so they banned it as being a competitive invention for them. Most large banks stopped Bitcoin and Crypto businesses and the exact reason behind that is they get extremely skeptical about them, they have no idea about these digital currencies and also aren’t familiar with the technologies that are used behind them. It’s a unique and unexplainable competition for them from the internet industry having digital currencies versus the traditional money.
The banks of the world’s biggest countries such as Australia, UK and the United States have banned the purchase of Bitcoins or other Crypto Currencies using debit and credit cards. There is no alternative for that so that hurdle raised another question: how bitcoins users will interact with the Crypto Currencies.
The need of Crypto or Bitcoin-friendly banks raised to ease the investors so people start finding the solution of this problem even more passionately then before.
The people who liked and believed Crypto as well as the investors who wanted to invest in digital currencies are looking out the most friendly solution and reliable platform that they can use for that. Their disappointment will turn into happiness because there is good news for all of them.
A new and wonderful infrastructure has been developed by certain pioneers regarding the digital currencies like Bitcoin and Crypto etc. Further, old and traditional banks are also working to develop a broad mindset about this technology. It’s time to give you a brief introduction of the Cryptocurrency or Bitcoin friendly banks.
Top and Reliable Cryptocurrency Friendly Banks
|Revolut (UK & Euro Region)||Details|
|Wirex (UK & Euro Region)||Details|
|The United Services Automobile Association (US)||Details|
|Ally Bank (US)||Details|
|Simple Bank (US)||Details|
|The National Bank of Canada||Details|
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Most Demanded Bitcoin-Friendly Banks of 2021-where Cryptocurrency is non-restricted!
The first bank that we’re going to tell you about is Revolut, it was a small company with no license but with the help of amazing efforts the staff of this company made it a wonderful and full-fledged successful bank IN 2015, it’s mainly registered in the UK. Now, Revolut has over 2 million customers.
This bank is available in the UK and their services are for the UK as well as for Euro region countries. Another thing about this bank is that it’s currently not available for United States users.
The Revolut’s users can deal with cryptocurrencies by using their bank accounts. They provide multiple categories of accounts including Standard, Premium and Metal accounts. All the accounts have their own specifications and specialties. Furthermore, the inbuilt functionalities of this bank facilitate you to buy bitcoins and other kinds of cryptocurrencies.
There are multiple reasons that make Revolut the number 1 bank in this list of crypto friendly banks. Most of them are discussed above and there are several others that you can explore on the internet. Further, you can also try it to get the best and secure services that it provides to its customers.
Second number in bitcoin friendly and crypto friendly banks is the Wirex, that is another great and secure banking service among several other banks. This bank is popular as a cryptocurrency wallet provider where you can sell and buy cryptocurrencies not only in the UK but also in dozens of countries worldwide. Wirex provides you your first bank account of this bank in the UK, then later it will be available on international level along with a sort-code and a British account number. It will be registered with the UK Financial Conduct Authority that is 100% secure.
Another important thing about Wirex is that they provide you a debit card that gives you another cool benefit like whenever you make in-store retail purchases, this cryptocurrencies friendly banking service will give you 0.5% BTC as cashback and the term that Wirex uses for it is crytoback.
Let’s know more details of the USPs of this wonderful banking resource:
- You can buy, sell, store and manage other kinds of transactions with your traditional as well as crypto currency. The Crypto currencies include LTC, ETH, BTC and XRP etc and traditional currencies include USD, EUR and GBP etc.
- It also facilitates you to add funds using bank transfer or debit and credit cards.
- By using your Wirex Visa Payment Card, you can spend and convert your online crypto as well as in-store crypto.
- It provides you a facility to exchange your traditional currencies into crypto currencies and vice versa at live rates.
- You can transfer your funds into your account and out of your account using the world’s most popular transfer methods such as SWIFT, SEPA and Faster Payments etc.
- Another amazing facility that Wirex provides you is that you can quickly and conveniently send your 18 currencies worldwide including traditional as well as crypto currencies.
- There is no restriction on international payments. In short Wirex gives you a borderless payments facility that you will love.
Note: A latest update of Wirex is, it started with other biggest supporting countries and the names of these countries are Hong Kong, Malaysia, Australia, South Korea, Singapore and Taiwan.
Bankera is one of the most secure banks ever today and the main aspect of this bank is that it uses blockchain technology. This bank is continuously improving its services and making it a best and reliable solution for the blockchain era. Among several remarkable facilities of this bank, it has experience in the development of SpectroCoin which is one of the most popular crypto wallets as well as exchange.
The Bankera team is working hard to improve their banking system and in a year or so it will be known as the most simple block chain solution like an old brick and mortar bank which will be based on modern technologies such as AI and blockchain.
You will find many things mentioned about Blockchain on the internet and there is another thing quite common that is its highly used in crypto banking structure today. Like other Bitcoin friendly or crypto friendly banks, Bankera also hits the top level of such banking systems.
The next name of the bank comes in the list of best cryptocurrency banks is Change which is in process yet.
The upcoming services that they’re going to provides to all of its customers are as follows:
They are going to release their iOS as well as Android apps plus the development of their own crypto wallet is also in process. Several other wonderful services that Change is going to provide are: they facilitate in-app trading of Bitcoin, Ripple, Ether and Litecoin and they all are free of commission.
Change bank has received $17.5 million funding which is a wonderful achievement. They’re also going to make IBAN numbers, fiat wallets along with European payment licenses and very soon Change is finally going to get a full-fledged banking license.
As it’s not in running state but the out coming services that Change bank is going to provide to its customers are outstanding. People are getting quite sure that they will find it a best crypto currency friendly bank among other biggest banks. Further, crypto banking is taking over traditional banking with a boost. Change bank’s target is to get maximum customers to prove to them that their bank is on the top of all other banks. So they don’t need to search everywhere for easy and convenient cryptocurrencies transactions because Change bank is already there to assist them in such a type of banking.
No.5. The United Services Automobile Association (USAA)
USAA or The United Services Automobile Association is a US based company that is situated in Texas; it is specially made for US military citizens. This company is a fortune 500 company and is serving several categories of U.S. military officers such as retired, active and other several honorable officers as well as the enlisted personnel. In the cryptocurrency and payment acceptance perspective, it has invested $150 million in coin services that gives a very easy and secure solution to USAA bank account holders to make transactions with their Coinbase’s Bitcoin accounts.
This bank also allows civilians to join their bank by creating their bank account there. By using your USAA account, users can monitor all of their transactions, check balances and can connect USAA with Coinbase. Further, users can track their Bitcoin wallet too.
The United Services Automobile Association is doing continuous struggle to improve their banking structure and make their bank one of the best crypto banks of today. There are many outstanding achievements of this bank and the quite noticeable strategy of this bank is that it serves different kinds of personnel and this makes its customers more cherished.
Another famous crypto friendly bank is MonAize which is a complete banking platform for bank accounts as well as crypto users.
MonAize is an e-banking platform which is Europe based. It’s known as one of the coolest mobile-first solutions that are mainly developed to provide freelancers and entrepreneurs of small businesses an easy crypto bank services along with their current accounts. Such bank accounts can be known as crypto-business bank accounts.
Another nice capability of MonAize is that they will also be able to integrate other solutions; you can say third party solutions like payment solutions, professional insurances, and a variety of crypto wallets.
In comparison to old traditional banks, This bank has a rich feature named KYC check process that needs just a few minutes rather than the long time that traditional banks take.
This remarkable banking service is also working hard to sensitize users to the modern technology named blockchain. They’re in the search of a more convenient banking infrastructure that can open to new and exciting technologies. They’re moving their wonders to other biggest countries of the world and starting countries that come in their list, where they will expand their services include the United States, Germany and the United Kingdom.
No.7. Ally Bank
Ally bank is specifically made for US residents and it’s quite different from all the banks that I have mentioned above. It’s fully integrated US rules and regulations and its roots are developed according to all the essential US laws. This bank provides amazing and mind blowing facilities to the Bitcoin lovers. All the customers who want traditional banking, cryptocurrencies as well as Bitcoin baking, Ally bank is a complete digital solution for them. The important thing about this bank is that it provides fully digital services rather than physical branches. The unfortunate thing about this bank is that only US citizens can use its services but we hope it will be accessible internationally soon. Further, due to its digital interface, users can access it 24 hours along with online support. A digital bank gives you more speedy and secure access than a physical bank and you will be able to experience every kind of transaction that you might not have done earlier. The best part of such kind of banking is that it stays day and night active and responds to your queries. You don’t need to wait longer to get your answers as it’s available every time. Ally Bank is breaking several records among cryptocurrencies banking. People are even confused in the selection of digital and physical banks.
Bitwala is another remarkable Bitcoin banking solution but it’s different in a few aspects. Most important thing that I want to describe about this bank is that it offers a simple bank account facility that is specifically for cryptocurrencies that gives you great benefit to manage your daily basis banking plus with the help of this simple bank account you can store bitcoin, trade cryptocurrencies and do other transactions without any delay. One more thing about this bank account facility is that it’s the world’s first banking invention which is famous as the cryptocurrency bank account.
This company was developed in 2013 and is legally registered as a Bank and its registration comes under the German banking Act. In short it’s fully accessible for all the bitcoin and cryptocurrency users who are German residents; they can get Bitwala’s services in a few minutes.
This bank is another best choice for crypto lovers and they find it a great platform where they can buy and sell bitcoins and use its specific bank account.
No.9. Simple Bank
Simple bank is similar to other US traditional and cryptocurrency banks. Its name comes among the friendliest banks developed for US residents and provides them reliable and great bitcoin exchange platforms. Simple Bank is located in Portland, Oregon. This bank has started like a Fintech startup and after that it turned into an FDIC insured bank that is specifically invented for US citizens. This bank has links with several other great cryptocurrency exchanges which are also situated in the USA.
The name of this bank is quite simple as Simple bank but it doesn’t mean that it provides less or plain services to its customers. There are lots of details available on the internet and by registering yourself at Simple bank you can know better about it and how it’s Bitcoin friendly? It will be clearly obvious to you when you get into it.
Barclays is another UK based crypto currency friendly bank that is famous as one of the biggest investment banks of the UK. The specialty of this bank is, it deals with din cryptocurrencies as well as blockchain technology. Barclays facilitates its users to interact with cryptocurrencies by utilizing their banking services altogether with Coinbase.
It is also finding more latest and appropriate ways to make cryptocurrencies transactions secure than ever before in the traditional realm by utilizing blockchain technology.
Same like several other banks Barclays also adopt modern technology and in which Blockchain’s name comes at the top. People are fully satisfied with this bank’s services and wanting more advancements from the bank.
No.11. The National Bank of Canada
As the name of this bank states, The National Bank of Canada is a Canadian bank. There are few banks in Canada that provide bitcoin exchange facilities and this bank is one of them. It deals with cryptocurrencies businesses along with the traditional banks so the Canadian citizens who like to buy or sell cryptocurrencies like Bitcoin, they can use this bank for that.
It’s also important to know that several other biggest Canadian banks like Toronto Bank and Royal Bank of Canada have forbidden their users from using their banking services in cryptocurrencies transactions. When you decide to use the National Bank of Canada to interact with cryptocurrencies, you have to follow all the rules and regulations imposed by this bank and also need to do such kinds of transactions carefully.
There are lots of people who like the crypto concept and they’re very much interested in buying them but they are not familiar with such kinds of banks that can help them in cryptocurrencies transactions. They can afford such currency and want to invest big in that, but due to less knowledge they couldn’t do that. The National Bank of Canada is a reliable solution for all those people who live in Canada and want to interact with crypto currency.
So, now you’re familiar with all the best banks that you can use for cryptocurrencies transactions, all of your needs related to buy/sell of Bitcoin and other cryptocurrencies have been resolved. Some of the above mentioned banks are assisting their customers in physical branches and some are facilitating them online. Most of these Bitcoin friendly banks are running and making people satisfied who want to deal crypto currency transactions conveniently and few of them are in the process, they will be live soon. These banks are providing amazing services to their account holders from all over the world and Wyoming too. You must know about Wyoming, if not then I tell you about that. It’s a western US state which is the least populous and quite largest in area and the US state is trying to make it the main platform for such banks.
There are lots of efforts are making to create friendly regulations in order to adopt blockchain technology for developing crypto-currency as well as blockchain-friendly banks, so in the last there will remain little difference between traditional and crypto banks and the definition of that change could be as, Wyoming’ crypto bank is absolutely secure plus 100 percent backed whereas conventional banks follow fractional-reserve banking strategy. You can say that it will keep crypto-currency moving forward to liquid-funds with 100% ratio, in crypto perspective it will become a “transfer institution” or you can say a “money warehouse”.
Many more outstanding and beneficial details are present on the internet regarding cryptocurrency, bitcoin and other such kinds of digital currencies. In case you need more knowledge about it, the internet is a best resource that can help you in that. Some crypto friendly banks are specifically for the UK, while some are for the USA and many serve world-wide. Lots are in working condition and there are several that will be soon available to you. Just dig into it, try them and get the best of them.