Best & Worst BANKS for Cryptocurrency Investors
Every bank has a different policy when it comes to cryptocurrencies and their customers.
Some are relatively crypto-friendly, while others show a lot more hostility and will even go so far as to close their customer's accounts.
That's why I thought it would be worth putting together a video sharing the best and worst banks for cryptocurrency investors.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Many cryptocurrency enthusiasts are more than happy to escape the world of fiat, however, being able to successfully transition from using fiat currencies to dealing purely in cryptos will take time and an entirely new banking infrastructure. If you're based in a country that still treats cryptocurrencies with suspicion then there's the real possibility that your account may be closed as a result of purchasing your favorite coin.
Despite this fact, many choose to solider on and make use of both centralized and decentralized exchanges to purchase and trade cryptos while running the risk of retribution from their banking services provider. Fortunately, advances in the world of fintech have produced a number of banking projects that look set to step in and provide cryptocurrency friendly services for the entire community. Here are five of the best.
Top 5 Crypto Friendly Banks:
Fidor Bank
Change Bank
Worldcore
Bankera
Monaize
From the good banks you mentioned I’m not much familiar with except Barclays, but it’s in UK and I live in US. However, I’m familiar with the bad once’s. As a customer of Chase bank and Coinbase I had some issues in the beginning. Chase even charged me huge fees when I transferred funds to Coinbase. Recently something happened. Chase refunded all charges they made in the past and it is much easier to transfer funds to Coinbase. I think from my personal experience Chase should be removed from bad banks when it comes to crypto and transfers. But that’s my experience.
Great topic though!
Thanks for information @louisthomas.
This is best bank for cryptocruncy investment.
UBL is best for cryptocruncy investment in my country. This bank convert steem into US dollars and US dollars into steem, this is very helpful in investment in all cryptocruncies.
Banks that are used in my country for cryptocruncy investment.
Most banks are against cryptos. It is clearly visable when you are trying to order cards from different payment systems. Sometimes the system may add funds to your wallet with btc but you can never move it to the card because the bank that issued that card will block it. Usually it is stated in the rules.
I really liked your outdoor videos.
You should do it again.
I'm from Croatia (none of these banks exist in Croatia), and here not even tax companies know much about crypto.
I heard stories where people wanted to pay taxes and didn't know what to do.
Can someone explain me how banks can be good/bad for crypto (I only know that some banks forbid to buy crypto through their services, but that's the only case I know)?
I wouldn't want to send fiat to bank in Croatia, as it's not regulated yet, and I don't want make mistakes, and in the end pay a lot more money than 12%.
Come to think of it, I used to really hype Chase.
I know quite a number, particularly Fidor bank, that provides cryptocurrency services as easily and uncomplicated as possible for the entire community.
Truly being able to fully move from using fiat currencies to running transactions in crypto may not be so easy afterall and it propels for new banking structure ofcourse.
Thank you for sharing
I don't know when banks decided they could tell you what you could or couldn't do with your money, if you are a victim of a terrible bank you can still find a workaround by using decentralized exchanges like bisq or going into local bitcoins and trading with someone that has a good rep and is willing to accept a bank transfer.... I can't wait for the day till banks are gone, we don't need the intrusive banks in the crypto era but I'm willing to accept banks that turn 100% crypto friendly!
Worldcore
Launched in 2015, Worldcore started out by offering multi-currency accounts and later added prepaid debit and virtual cards to its list of services. The Czech based bank has grown in importance and is now the number one payment institution in the country. Worldcore is continuing to branch out and after onboarding via an ID verification process, any account holder has access to all the financial services they offer. Clients are able to:
Accept bank payments directly to a Worldcore account;
Buy, sell or pay for any services or goods from their Worldcore account balance;
Load their Worldcore account with any supported e-currencies and withdraw funds in US Dollars or Euros to any bank account or any Visa/Mastercard/UnionPay in the world at low fees;
Make free internal payments to any Worldcore account holder;
Order any number of Worldcore prepaid debit cards to convert account balances into cash at ATMs worldwide.
The startup controls the world’s third-largest cryptocurrency, XRP. Banks have signed onto its network and bought equity stakes in its business, which wants to rewire how money moves around the world.
I don't think our bank even handles crypto , my hubby had to sort out something out at bank , there didn't even know what crytpo was , definitely need some staff training updating
Limiting the free flow of business in this space will hurt growth and innovation for the economy in the long run. Banks are trying to use their influence to block the technology that would compete with them directly as they know it will benefits not only current customers but those that cannot even afford to have a bank account.