What are the Most Crypto-Friendly Banks?
Cryptocurrencies are gaining popularity and have become a globally accepted mode of payment. As a result, there is an increasing demand for banks that can handle cryptocurrency transactions. Unfortunately, not all banks are equipped to handle this new form of financial transaction, as cryptocurrencies are still very much a novel concept. However, there are a few banks that have embraced this new technology and have become crypto-friendly. In this post, we will discuss the most crypto-friendly banks.
1. Kraken Bank
Kraken Bank is an online bank that allows users to buy and sell cryptocurrencies through their bank accounts. Kraken Bank has a strong reputation in the crypto community and is the first regulated bank to offer clients comprehensive cryptocurrency services. Kraken Bank is fully licensed and regulated, which means that it adheres to robust security protocols and strict regulatory standards.
2. Metropolitan Commercial Bank
The Metropolitan Commercial Bank is a crypto-friendly bank based in New York City. It offers various services for individuals and businesses who transact in cryptocurrencies. This bank is well known for its partnership with cryptocurrency payment processor BitPay. The partnership enables BitPay to issue cryptocurrency debit cards to its US customers, which could be used anywhere that debit cards are accepted.
3. Silvergate Bank
Silvergate Bank is a California based bank that provides financial services to businesses, mostly in the fintech and cryptocurrency industries. It is one of the first banks to offer crypto-based lending services. Silvergate Bank is highly regarded in the crypto community for its easy onboarding process and excellent customer support.
4. Simple Bank
Simple Bank is another banking institution that has shown its support for cryptocurrencies. It has partnered with Coinbase, one of the most popular cryptocurrency exchanges, to offer its customers a crypto-friendly banking experience. Simple Bank does not charge a fee for making cryptocurrency purchases through Coinbase, making it an attractive option for crypto investors.
5. Ally Bank
Ally Bank is an online bank that is rapidly gaining popularity in the crypto community. It has become a favourite among crypto investors due to its broad range of services, including checking accounts, savings accounts, and credit cards. Ally Bank allows users to link their Coinbase accounts to their bank accounts, which makes it easy to buy and sell cryptocurrencies.
Conclusion
Cryptocurrencies are here to stay, and as they continue to gain acceptance, more and more banks are expected to become crypto-friendly. However, for now, the above-listed banks are leading the way. If you are a cryptocurrency enthusiast, these banks offer the most crypto-friendly services and should be your top choice when looking to transact in cryptocurrencies.
