Which bank account is best for cryptocurrency and lets you buy crypto with a bank account? The best crypto friendly banks will allow you to manage your bitcoin and other cryptocurrency directly from your bank account. You can buy and sell cryptos, deposit, withdraw, save, invest, exchange with fiat currency and send your crypto to others. Ideally, they would even give you a loan, with your bitcoin as collateral. In this article, we will look at 10 virtual banks that you can use to open digital currencies bank account, or a crypto fiat bank account. Find out below which banks qualify for what we can consider the best crypto bank account, the best crypto checking account or bitcoin trading bank account.
Open Crypto Bank Account or Crypto Checking Account
A cryptocurrency bank allows you to combine fiat currency and cryptocurrency in one single account. For example, you have an account that combines Euro and Bitcoin or USD and Bitcoin.
Juno bank, formerly OnJuno bank, offers a new checking account with integrated bitcoin wallet available in the US. You can directly buy, sell and send bitcoin via their app (as well as Ethereum and USDC). It also comes with the Juno Mastercard.
Another bank is Revolut, which allows you to buy crypto at regular intervals (Dollar Cost Averaging) to minimize the effect of volatility. However, we suggest you avoid Revolut if possible because the online bank doesn’t allow you to hold private keys to your wallet (yet) or to send/ receive bitcoin directly unless you are a Revolut Metal customer in the UK.
While BankProv doesn’t allow crypto deposits, it offers USD account for crypto businesses and commercial loans.
Although they are not banks in the traditional sense, some fintechs offer a bitcoin credit card that are also called crypto cards.
✓ Exchange 29 currencies into Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple; ✓ auto exchange; ✓ withdraw bitcoin to an external crypto wallet (Revolut Metal customers from the UK); ✓ Automatic recurrent buying
Available in the European Economic Area (EEA), UK, Australia, Canada, Singapore, Switzerland, and the United States
✓ Buy cryptocurrency and convert into fiat money; ✓ corporate bank account for investors and organisers to conduct Initial Coin Offerings (ICOs); ✓ account for bitcoin exchanges to trade EUR and bitcoin on their platforms; ✓ Crypto Settlement Account; ✓ API access
Available in the European Economic Area and Switzerland (limited support in English)
✓ Save cryptocurrency and fiat currency in a single account, ✓ X-Account allows crypto holders to earn up to 16% on their crypto savings
Wirex accounts can be opened in many countries around the world including Australia, Austria, France, Denmark, Germany, Norway, Italy, Spain, Portugal, Poland, Slovakia, Sweden, the Netherlands, Romania, Hong Kong, New Zealand, the Philippines, Singapore, Taiwan and the UK. It is not available in the US and Canada
✓ crypto custody; ✓ tokenisation solutions; ✓ stores your clients’ cryptos in segregated wallets, off-balance sheet; ✓ enables crypto businesses to offer crypto loans, digital asset management under their own brand; ✓ compliance advisory services
Available for many countries in the world, including the US, UK, European countries and Hong Kong for private qualified investors.
✓ Crypto wallet linked to your bank account; ✓ Checking Account USD through a partnership with an FDIC insured bank.; ✓ Buy, sell and transfer Bitcoin directly from the Juno App; ✓Withdraw bitcoin to an external crypto wallet;
✓ Phased launch in 2022; ✓ Deposit accounts in USD and crypto ; ✓ Institutional crypto custody; ✓Buy and sell cryptocurrencies from bank account;
Available in the USA and globally in the future
Banks With Cryptocurrency Accounts
Although cryptocurrencies haven’t become mainstream yet, the number of financial institutions offering crypto bank accounts around the world is rising. Find below the most well known examples. As new ones come up, we’ll add them.
PayPal is not strictly classified as a bank, but it offers banking products. The fintech has launched a service that allows customers in the US and UK to buy, sell and hold cryptocurrencies. Read more about PayPal crypto offer.
Banks With Cryptocurrency Accounts
Revolut is one of the best online bank for cryptocurrency. It is a British crypto friendly online bank that was started by Nikolay Storonsky and Vlad Yatsenko in 2015. The bank is open to legal residents in the European Economic Area (EEA), Australia, Canada, Singapore, Switzerland, and the United States. With Revolut app for Android and iOS, you can buy, sell, spend and receive cryptocurrency. Cryptos available on Revolut include Bitcoin, Ether, Ripple, Bitcoin Cash and Litecoin. The bank works with cryptocurrency exchanges such as Coinbase and Bitstamp.
You can receive cryptocurrencies sent by another Revolut user. However, you will not be able to receive cryptocurrencies sent from outside of the Revolut platform, e.g., external wallets. This is a closed offering whereby you can buy, sell, exchange, and transfer within the Revolut platform. You do not have your own private bitcoin keys. Revolut has started in 2021 with beta-testing for UK users to be able to send their bitcoin to external bitcoin wallets at a cost of £12.99 (about US$18) a month.
Fidor Bank is a German virtual bank founded by Matthias Kröner, Dr. Michael Maier, Steffen Seeger and Martin Kölsch in 2009. The bank maintains fiat and Bitcoin customers in the European Economic Area (EEA) and Switzerland.
Fidor’s Bitcoin bank account, available on Android and iOS, allows you to buy, sell, save cryptocurrencies and convert into fiat money. it is one of European banks for crypto companies that enables investors and organisers to conduct Initial Coin Offerings (ICOs) and Bitcoin exchanges to trade EUR and Bitcoin in their platfroms.
If you are a Fidor Bank customer with Kraken account (one of the world’s largest global bitcoin exchange and America’s first cryptocurrency bank), you can send deposits and withdrawals to and from your Fidor bank account to your Kraken accounts easily. The bank has also partnered with German Bitcoin exchange Bitcoin.de to offer you Bitcoin trading option.
Citing uncertainties surrounding the UK market, Fidor Bank decided to withdraw its product and service offering in the UK on the 15th of September 2019. Read Our Complete Review of Fidor Crypto Bank
Wirex is a fintech that was founded in the UK in 2014. You can open a cryptocurrency bank account on Wirex website or its apps, iOS and Android.
You are able to save cryptocurrency and fiat currency in a single account. The newly launched Wirex X-Accounts allows you to earn up to 16% on Wirex crypto savings. Funding your account can be done via a debit or credit card, bank transfer or cryptocurrency (Bitcoin, Litecoin, Ether and Ripple).
SEBA is a Swiss digital bank that provides crypto and fiat banking services in one place. The bank offers a SEBA crypto wallet and SEBA card facilities, which support fiat money and cryptos. The bank serves institutional clients and investors in Switzerland, Hong Kong, Austria, the UK, Singapore, Italy, France, Germany, and Portugal. Cryptocurrency investors are given the means to invest in single coins or a basket of cryptocurrencies without having to deal with cryptocurrency wallet, exchange risk, and custody risk.
Once your cryptocurrency account is operational, you will be able to initiate transactions or receive funds from personal wallets, banks or cryptocurrency exchanges and invest in SEBA crypto investment products. Fiat accounts support CHF, EUR, USD, GBP, HKD, SGD, PLN, JPY while crypto wallets support BTC, ETH, LTC, XLM, USDC, BCH, SNX, UNI, YFI, LINK and AAVE. The bank allows on/off-ramping for cryptocurrency exchanges and blockchain networks.
SpectroCoin is a cryptocurrency exchange and cryptocurrency mobile wallet that offers dedicated personal IBAN account to users in Europe and around the world. Furthermore, the company allows you to use your cryptocurrencies as collateral for crypto backed loans.
SpectroCon payment gateway allows you to accept crypto payments for your online store. The platform offers multiple deposit and withdrawal methods including SEPA, Neteller, Skrill, bank transfer, mobile money, debit and credit card, etc.
SpectroCoin is not an actual bank but a fintech that offers banking products such as personal IBAN account.
Located in Switzerland and Singapore, Sygnum calls itself “world’s first digital asset bank.” The bank helps institutional and private qualified investors, corporates, banks and other financial institutions invest in digital assets. Other crypto banking services are crypto custody, crypto brokerage, tokenization solutions, crypto backed loans and bank accounts for cryptocurrency businesses (B2B banking services).
Sygnum clients use their deposited fiat currency (CHF, EUR, SGD and USD) to buy, trade and hold cryptocurrencies integrated in one account. Supported cryptos include Bitcoin, Ethereum, Bitcoin Cash, Tezos, Litecoin, XRP and a Digital CHF token.
The Swiss bank claims to be the first bank in the world to allow clients to stake Ethereum, generating a yield of up to 7% annually. In March 2020, Sygnum Bank launched its digital CHF, a digital currency pegged to the Swiss franc. The CHF token is the first to be issued by a regulated Swiss bank with a full digital asset banking suite.
BankProv is one of the oldest banks in the US. Formerly known as The Provident Bank, it has entered the crypto banking industry serving cryptocurrency businesses in the US. Apart from banking for crypto businesses, BankProv offers business loans. Its ProvXchange feature allows your business to make real-time payments with other BankProv customers.
The types of cryptocurrency businesses BankProv serves include Bitcoin ATM companies, crypto investors, crypto miners, crypto exchanges and crypto software developers. The bank is a member of both FIDC and DIF. To minimise crypto risks for these business, BankProv offers unlimited insurance for crypto deposits through the Depositors Insurance Fund (DIF)
OnJuno, now called Juno, offers a checking account with integrated bitcoin wallet available in the US. You can directly buy, sell and send bitcoin via their app, as well as Ethereum and USDC. It also comes with a Juno Mastercard.
There are two types of accounts at Juno, Basic and Metal Account. To get access to a Metal Account, you have to set up a Direct Deposit of $250/month and you must maintain your monthly direct deposit to continue the Metal access.
Juno allows you to buy, sell, hold, send and receive Bitcoin, USDC and Ethereum.
Juno is a financial technology company, not a bank. Banking services and the Juno card are provided by Evolve Bank & Trust.
Vast Bank is the first nationally chartered U.S. bank that allows you to buy, sell, and hold cryptocurrency assets through your mobile banking app. With Vast crypto banking, you will get two accounts in the mobile banking app, a checking account and a crypto account. Using your Vast Bank account, you can purchase 12 crypto coins including Bitcoin, Ethereum, and other altcoins at 1.00% trading fee and real time settlements, no transfer delays.
Kraken Bank is the first crypto company to be awarded a U.S. state banking charter, a Special Purpose Depository Institution or SPDI. The charter allows Kraken Bank to launch digital-first traditional currency and cryptocurrency banking products. Crypto banking products will include deposit accounts in USD and crypto such as Bitcoin, multiple funding and payments options, institutional custody products, IRAs, etc. Initially, Kraken bank will focus on existing clients in the US with potential international expansion in the future.
Many banks are crypto friendly in that it’s possible to transfer your money to a crypto exchange, or to receive money from an exchange. Some banks though have an active policy to block transfers to and from crypto exchanges. This also includes payments made to exchanges with your cards. We recommend to change your bank account if that’s the case, or to use a different bank account that is crypto friendly.
Is N26 crypto friendly
N26 crypto:N26 bank is working with an unnamed crypto exchange to launch crypto services. The new product will integrate a crypto exchange functionalities and N26 banking features to allow account holders to trade bitcoin and other cryptocurrencies.
Is Chime crypto friendly
Chime bank does not allow you to use Chime debit card to buy cryptocurrency. However, Chime’s integration with the cryptocurrency exchange Paxful allows you to buy cryptos via “Chime Instant Transfers” and pay individuals with Bitcoin using their email, phone number, or username. Your cryptos will be stored either on your own wallet or Paxful wallet not on your Chime account.