Banks That Accept Crypto
Cryptocurrency friendly banks are those banks that support cryptocurrency transactions and related activities. To further qualify as CRYPTOCURRENCY FRIENDLY, the institution must offer a variety of crypto services and have a standing record of treating customers like regular users and not as criminals.
After a thorough research and survey, we came up with a list of financial institutions around the world that accept crypto and are supportive of what it stands for.
Due to the very many restrictions and law enforcement involvement, many financial institutions do not want to directly get involved in cryptocurrency. However, there are a few bold ones which have stood the test of time. These are the TOP banks that accept cryptocurrency:
1.Revolut UK
Having gained prominence in the UK and EU market, Revolut is now stretching its arms to other parts of the world, i.e, US and UAE.
It is a fully digital bank that provides services through its mobile app. In the app, users can buy, sell, and hold. 100+ cryptocurrencies, including Bitcoin, Ethereum, litecoin, and Dogecoin.
Its customers can use crypto to pay bills with their credit cards. They may also purchase products and services and receive a 1% payback in compatible cryptocurrency. The bank is even planning to launch its crypto later in the year (Revcoin).
2. Ally.com — Online
Ally.com is a well-known digital financial institution headquartered in Detroit, Michigan. It has gained recognition for its crypto friendly nature and customer-centric approach.
While they don’t allow customers to directly trade crypto, they let you put money into trusts, Bitcoin Futures, and cryptocurrency stocks. Their app is also top rated and is great for trading, regardless of your location.
3. BankProv — USA
Bankprov extends beyond a mere cryptocurrency-accepting bank. It supports and empowers businesses in cryptocurrency and tailors its services to meet the unique needs of cryptocurrency.
It’s a very crypto friendly bank that enables customers to lend their crypto assets to other traders, thus earning interest. Moreover, it gives businesses involved in crypto access to Bitcoin ATMs, loans, and crypto backed lines of credit.
4. Xapo Bank — Gibraltar
Their twitter, now X profile, reads “First bank in the world to fully integrate traditional private banking with crypto…”
Xapo Bank is a private bank headquartered in Gibraltar. It’s the first fully licensed crypto-native bank, which means it follows regulatory guidelines. Xapo has one of the biggest dispersed Bitcoin reserves, cementing its status as a trustworthy custodian of digital assets.
Xapo was originally established as a bitcoin wallet which merged cold storage vaults with btc-based debit cards. They left the US market in 2021.
5. N26 — United Kingdom
If you are in the United Kingdom, this should be your number one option. N26 is a UK based online banking platform that offers a wide range of features. Their premium card features a minimalist design and complete contactless capability.
Users can buy and sell over 200 cryptocurrencies. Headquartered in Berlin, Germany, N26 is planning to enter the US market by the end of 2023.
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Parting Shot
As the popularity of cryptocurrencies continues to grow, several banks worldwide will start to offer support for these digital assets. It’s important to note that each bank’s level of support and services may vary. When choosing a bank for your crypto needs, examine branch availability, costs, and compatibility with bank transfers.
