Crypto has now become a global phenomenon with millions of people around the globe making transactions through various blockchains. Now, blockchain has indeed provided an amazing transaction model, but we all still need to have conventional bank accounts to withdraw our earnings and rewards in fiat currencies.
Well, to save the time you were going to spend extensively searching about banks that are crypto-friendly, here are our best picks for top crypto-friendly banks. Don’t worry, most of these banks work internationally and you can access their services and accounts from anywhere around the globe.
Revolut
A UK-based fintech company that doesn’t need any sort of introduction within the internet banking space across the globe. Revolut allows you to sell, buy, and trade around 30 popular crypto assets making it an ideal banking channel for both experienced and new crypto traders. The exchange rates offered by the platform are super competitive and you can maintain a separate account for holding digital assets while your traditional money assets are kept completely separate. The platform also features a user-friendly interface facilitating seamless crypto buying and selling, supporting a wide array of cryptocurrencies for trading. Users benefit from flexible buying options, including auto-exchange at specific rates, and can explore bundled collections of tokens in sectors like DeFi and blockchain.
Juno
Juno is a banking platform popular for its crypto-friendly policies that target both individuals and business owners within the crypto space. You can avail of crypto-backed loans while at the same time enjoying the added benefits of a savings/trading account. Along with debit cards that can facilitate both crypto and fiat currency-based transactions, Juno also rewards its account holders for holding crypto assets for a specific period. The platform also offers an innovative Smart Treasury savings account tailored for stablecoin holders and leverages advanced technology such as AI/machine learning to provide personalized financial insights.
Wirex
If you’re a crypto enthusiast, you already know a few things about Wirex as a notable financial player within the global crypto space. The platform works in collaboration with Mastercard providing support for both crypto and fiat currency assets. If you’re going to upgrade your Wirex plan, the platform will start returning some portion of your transactions as a reward. The platform is also credited with the introduction of Web3-based free accounts and secured debit card services, facilitating seamless access to crypto transactions. With the Wirex card, users enjoy 0% global foreign exchange fees, alongside opportunities for passive income through staking and access to institutional asset pricing.
Ally Bank
So Ally Bank is a very popular US-based online bank that offers some amazing traditional banking services. Even though the bank doesn’t directly facilitate crypto-based transactions, you can link your Ally Bank account with popular crypto exchanges and withdraw your funds directly to your bank account. The bank also offers higher Annual Percentage Yields (APYs) on fiat deposits compared to many traditional banks, maximizing potential returns for savers.
Monzo
One of the pioneers of digital banking now actually accepting the crypto revolution and offering more user-centric features. Yes, we are talking about Monzo and how you can now use your Monzo account to hold and trade crypto assets. You can even link your bank account with any of the popular crypto exchanges and Monzo will facilitate the transactions for you. Also, the Monzo app provides a streamlined experience by enabling users to monitor their cryptocurrency holdings directly within the Monzo platform. Additionally, with support for faster payments and direct debits, users can now conveniently manage their funds and execute transactions with cryptocurrency exchanges, ensuring efficient and hassle-free financial management.
Final Note
Traditional banking channels and apps are now definitely accepting the crypto revolution leading to a change in traditional banking policies. The ability to use your crypto assets just like traditional fiat currencies is surely super beneficial for crypto enthusiasts across the globe.
