Bankera Review – Blockchain Based Banking

Bankera is blockchain-based banking that is seeking to find solutions for businesses and individuals. It has developed a crypto exchange and wallet known as SpectroCoin. One of the financial services Bankera offers include quick crypto-backed loans. Traditional banks take a lot of time to review eligibility criteria like credit score when issuing a loan.

Blockchain-based banking vs Crypto banking: While these terms are often mixed up, they represent different stages of virtual currencies and blockchain economy value chain. While banking for the blockchain era provides the traditional financial services such as payment accounts, cards, and financing to businesses in the blockchain field, crypto banking focuses on providing banking-like services with cryptocurrencies, such as crypto loans, crypto wallets, or even savings.

bankera loans review
Bankera ad on Google claiming to be the alernative to Mistertango bank.

Bankera Features

Bankera has some excellent features that also its customers to enjoy banking services. These features include:

Bankera Exchange

Bankera has a peer-to-peer cryptocurrency trading platform where you can trade 12 cryptocurrencies. They include BTC, BNK, ETH, USDT, DASH, USDC, TrueUSD, LTC, ZCash, XRP and Paxos Standard (PAX). The Bankera Exchange platform is secured with 2-factor authentication and data encryption to ensure the security of users’ information.


SpectroCoin is one of the features developed by Bankera in 2013. It has grown over time and users can exchange crypto. They offer 30 fiat, cryptocurrencies and 15 deposit options. Users can trade and purchase cryptocurrencies and then store the assets in the SpectroCoin exchange. It is free to send cryptocurrencies to the Bankera Exchange.

Besides, SpectroCoin offers a solution by allowing users to securely store cryptocurrencies and access them at any time using a mobile wallet that is available for Android and iOS users. SpectroCoin stores 99% of currencies in cold wallets to ensure their security.

Bankera Card

Bankera offers prepaid debit cards that are compatible with ATMs all over the world. You can load funds to your card from your account automatically. It also offers VISA business debit cards. Bankera charges 7 euros for the prepaid card which is a fair price for people who want to bridge between crypto and fiat.

Bankera Integrations Tools

SpectroCoin comes with tools that allow users to integrate it with merchants. For instance, you can integrate it with plugins and Payment Processing APIs. This makes it easy for users to pay for goods and services using cryptocurrencies in physical and online stores. It is easy to integrate SpectroCoin with payment processing APIs and its processing fees are fair.

Bankera Customer Support

The quality of service to users cannot be underestimated. One of the factors affecting the quality of service by corporate is the availability of customer support. Bankera has excellent customer support that is available 24/7. It means that if you have an issue, you have it sorted at any time.

Bankera Fees

Bankera has different fees for their various products. The following is their fee structure.

1. Bankera Trading Fees

There are trading fees charged on the maker and the taker. The maker is the one who makes an order to be executed while the taker is the person who takes the maker’s order. As such, the fees for the takers are 0.10% which is by far cheaper compared to the industry’s prices. The industry prices are around 0.25%. On the other hand, takers do not pay a fee at all when trading on Bankera’s Exchange.

2. Bankera Withdrawal Fees

Bankera charges a fee when you want to withdraw cryptocurrencies. For instance, when withdrawing Bitcoin using Bankera Exchange, you will be charged 0.0005 BTC which is below the industry prices whose average is 0.000812 BTC.
For some cryptos, Bankera uses a percentage to calculate the withdrawal fees. These cryptos include XRP XLM, LTC and ZEC whose withdrawal fee is 0.15%. This method is beneficial for smaller withdrawals while larger withdrawals attract hefty fees. You need to determine whether this is good pricing based on your trading.

Bankera Loans

Although Bankera is a blockchain-based banking service, it also provides crypto backed loans. Bankera crypto backed loans come in three packages:

  • Lowest Rates package. It has an LTV of 25% while the interest rates start at 6.95%
  • Most Popular package. It has an LTV of 50% while the interest rates start at 9.95%.
  • Max LTV. It has an LTV of 75% while the interest rates can go as high as 12.95%.

Pros of Using Bankera

When you use Bankera, you enjoy a set of features and services. You will get:

  • IBAN account in your name
  • Physical and virtual cards that you can link to your account
  • Access your account using web browsers and mobile apps
  • You can send and receive money using IBAN
  • Pay for goods and services online
  • You get control over your spending

Bankera Supported Countries

Bankera services are available in the majority of countries around the world. It does not offer services to clients from Iran, North Korea, and any unrecognized jurisdictions.

Moreover, services described in this website are not offered in the United States and any other jurisdiction where such services could be considered restricted. If you choose to access this website, you do so at your own initiative and risk and are responsible for compliance with applicable laws, rules, and regulations that may apply to you.

Bankera Alternatives

There are other banks that offer crypto and fiat currency services. These include the following: