In recent times, since the popularity of cryptocurrencies’ have become more widespread, there has been a massive shift in the mentality of banks towards cryptocurrencies.
Owing to the perceived risk of fraud and money laundering that is associated with cryptocurrencies’, many banks across the world have been closing the accounts of customers involved in cryptocurrency and are barring crypto-based businesses from getting new accounts.
Those are the crypto friendly banks options that are available in 2019
The list is long so here I will publish only USA and Europe, so for the credit, and the full list here
Simple Bank is a financial institution that is based in the state of Oregon, in the United States. Simple has been known as a supporter of cryptocurrencies, through its track record of working with a number of different cryptocurrency exchanges. The bank also has a feature which allows its customers to trade cryptocurrencies in any manner they want to, at any time.
As has previously been explained, a large proportion of big financial institutions have turned their backs on cryptocurrencies, regulating and limiting their use. Despite this blanket attitude, one of the most well-known giants in the finance game have shown forward-thinking and have decided to wade into the cryptocurrency market.
Ally Bank is a great option for someone that wants a bank where they can also get involved with cryptos.
They are an online-only bank, with no actual branches in the United States and operate an around the clock customer service team, for 24 hours per day.
The bank allows its customers to integrate their bank account with Coinbase. Because of this, customers will be able to purchase Bitcoins with their bank card.
It should be noted that Ally Bank will charge a small fee when customers decide to purchase Bitcoin with a credit card. Despite this, Ally Bank is still a great, minimum-fuss option for buying Bitcoins.
Similarly to Ally Bank, USAA Bank also has integration with Coinbase, allowing customers to view their cryptocurrency holdings on the go.
They are known to be very supportive of the cryptocurrency market, with this culminating in USAA Bank’s investment into Coinbase’s Series C round of funding.
This made them the first bank in the United States to invest in a cryptocurrency exchange.
It must also be noted that USAA gives its customers’ the ability to view their cryptocurrency balance from the USAA website.
Fidor Bank is a German bank that was founded in 2009, which follows an online model. Based in Munich, they have established a successful working relationship with the German Bitcoin exchange, Bitcoin.de.
Through this partnership, Fidor has managed to integrate with the platform and allows its customers to buy Bitcoins instantly through the bank.
If a customer is a holder of their Smart Giro Account, customers will also be able to make Bitcoin transfers to other Fidor Bank account customers that take effect almost immediately.
This is in contrast to some other financial institutions, where these transfers can take hours to complete. Fidor Bank is helping to provide crypto enthusiasts and businesses with a platform that they can use to fund their activities.
LHV is one of the most well-known and established banks based in Estonia.
They’ve been known to push the envelop and be on the forefront of emerging blockchain technology since 2014 when they decided to pursue a partnership with Coinfloor, to get their Bitcoin integration up and running.
In more recent times, they decided to form a partnership with Coinbase to allow their banking customers to make Bitcoin purchases.
Over the last year, LHV have also provided a new application to their customers, named Cuber Wallet.
This is a blockchain-based system which allows the bank’s customers to send digital Euros’ to other LHV customers. This shows that LHV bank is always open to exploring different ways in which blockchain applications and cryptocurrency integration can help the bank to become better for its customers’.
Change Bank is an exciting prospect, although they have not yet reached some of the key milestones to begin their banking activity.
Created in Singapore and trading in the European Union, they have yet to receive their European Banking License, create their debit and credit cards and create fiat currency wallets. Despite all of this, they are on course to achieve this by 2020.
They have currently managed to develop their in-app crypto wallet off the back of $17.5 Million of outside investment. The app also has an integrated trading platform, which allows for the exchange of Bitcoin, Litecoin, Ether and Ripple.
Any transactions made on this platform are done so commission free, which will be another draw for customers.
Change Bank will hopefully be a force in the crypto banking market for years to come and are soon to complete their feature which will allow for the trading of tokens on the platform.
That will be it, good luck!