If you are curious about crypto or planning get involved, you should know the best crypto friendly banks. Our experts overview the top 10 in this article and compare them for your convenience.
Top 10 Crypto Friendly Banks
Below, find the best crypto friendly banks reviewed.
Revolut
Revolut is a handy app that lets you do lots of money stuff, including buying, selling, and keeping cryptocurrencies. It’s easy to use and doesn’t charge you too much.
However, it doesn’t do some fancy crypto stuff like earning interest or lending. Also, there are limits on how much you can use it for each day.
Pros
- User-friendly app for managing finances and crypto holdings.
- Competitive fees for buying and selling cryptocurrencies.
- Offers various cryptocurrencies to choose from.
- Educational resources are available to help users learn about crypto.
Cons
- Doesn’t currently offer crypto staking or crypto-backed loans in the US.
- Some users report limitations on daily transaction amounts for crypto.
- Not available in all US states.
Juno
Juno is a similar app based in the US. You can use it to buy, sell, and hold cryptocurrencies too. It also has a feature to save money and use a debit card to buy crypto.
Juno focuses on keeping your account safe and has features like extra security and insurance. But it has fewer cryptocurrencies to choose from than some other apps, and you can only use it if you’re in the US.
Pros
- Focuses on security with multi-factor authentication and FDIC insurance for USD deposits.
- User-friendly interface with easy navigation.
- Competitive fees for buying and selling cryptocurrencies.
- Offers high-yield savings accounts on USD deposits.
- Debit cards can be used for crypto purchases.
Cons
- Limited crypto selection compared to some competitors.
- Services are currently only available in the US.
- Crypto-linked debit card functionality may be limited depending on the platform.
Ally Bank
Ally Bank is a regular bank that’s starting to get into crypto. They let you connect your crypto purchases to your bank account so you can keep track of everything together.
It’s a well-known and reliable bank, but it does not let you directly buy, sell, or hold cryptocurrencies. You can only use it to make seeing your crypto alongside your regular money easier.
Pros
- Well-established and reputable traditional bank with a strong focus on customer service.
- Allows linking crypto purchases to your Ally bank account for easier tracking.
- Offers traditional banking features and security measures that users might already be familiar with.
Cons
- Doesn’t offer any direct buying, selling, or holding of cryptocurrencies.
- Crypto-friendly features are currently limited to enabling easier tracking of external crypto holdings.
- May not be ideal for users who want a one-stop shop for traditional and crypto finances.
Silvergate Bank
Silvergate Bank is a special bank for big crypto investors. It helps these big investors convert regular money into crypto and keep it safe. The bank also has a fast network for moving crypto around quickly. But normal people can’t use it, only big investors.
Pros
- Provides a secure and reliable infrastructure for institutional crypto investors.
- Offers services like fiat-to-crypto conversions and custody solutions for digital assets.
- SEN network facilitates faster and more efficient crypto transactions for institutional clients.
Cons
- Services primarily focus on institutional investors and may not be accessible to individual users.
- Minimum investment requirements might be high for individual investors.
- Less relevant for users seeking a platform for personal crypto investing.
Signature Bank
Signature Bank is another bank for big investors. They offer many services for these big investors, like letting them keep their crypto in a bank account and borrowing money with their crypto as collateral.
They make sure everything follows the rules, but regular people can’t use their services, only big investors.
If you are interested in crypto, you can read about top crypto influencers and get news.
Pros
- It’s for institutional crypto investors with a comprehensive range of services.
- Offers deposit accounts for digital assets, lending products against crypto holdings, and international payment settlements with crypto.
- Focuses on regulatory compliance can provide a secure environment for institutional crypto transactions.
Cons
- Similar to Silvergate Bank, services are geared towards institutional investors and may not be available to individual crypto users.
- Minimum investment requirements might be high for individual investors.
- Focuses more on the institutional aspect of crypto finance, less relevant for personal investing.
Kraken
Kraken is a global platform mainly for trading cryptocurrencies. It allows regular trading, borrowing money to trade more (which can be risky), and earning rewards for holding certain cryptocurrencies.
It’s known for being very secure but is tricky for newbies because it has a lot of features. Margin trading can be especially risky and lead to big losses.
Pros
- Wide range of cryptocurrencies for trading and investing.
- Advanced features like margin trading and futures contracts (for experienced users).
- Strong focus on security, suitable for security-conscious investors.
Cons
- Complex platform for beginners due to extensive features.
- Margin trading involves high risk and can lead to significant financial losses (not suitable for everyone).
- Limited educational resources compared to some competitors.
Coinbase
Coinbase is also global and is one of the most popular places to buy, sell, and store cryptocurrencies. It’s easy to use, offers many different cryptocurrencies, and even has a debit card to spend your crypto like regular money.
They’re good for beginners and experienced investors alike, with helpful educational stuff, but their fees are higher than some others, and they don’t have as many trading options as Kraken.
Pros
- User-friendly interface, ideal for beginners starting with crypto.
- Variety of cryptocurrencies for buying, selling, and trading.
- Coinbase Visa Debit Card allows spending crypto holdings directly.
- Educational resources and investment options like recurring buys.
Cons
- Fees can be higher compared to some competitors.
- Limited margin trading options compared to Kraken.
- Less suitable for experienced users seeking advanced trading functionalities.
Cash App
Cash App is mainly in the US and UK and is more about sending money to friends, but you can also buy and sell Bitcoin with it.
It’s super simple to use and connects to your existing Cash App account, but it’s only for Bitcoin and doesn’t have fancy features for serious investors.
Pros
- Simple and convenient for beginners buying and selling Bitcoin.
- Integrates seamlessly with existing Cash App accounts for easy access.
Cons
- Limited to buying and selling Bitcoin only. Not suitable for those interested in a wider range of cryptocurrencies.
- Lacks advanced features or functionalities for experienced crypto users.
Wirex
Wirex is another global platform that lets you spend your crypto with a debit card, just like regular money. You can also trade different cryptocurrencies within the app and earn rewards for using it.
It’s easy to use, but there are fees for using the debit card and converting currencies, and you have to be careful about security when using any crypto debit card.
Pros
- Spend crypto holdings directly with Wirex debit cards for convenient purchases.
- User-friendly platform for buying, selling, and trading various cryptocurrencies.
- Loyalty programs with rewards for using Wirex services incentivize users.
Cons
- Fees associated with crypto debit card transactions and currency conversions can add up.
- Security considerations when using any crypto debit card, as losing the card could result in loss of funds.
MetaMask Institutional
MetaMask Institutional is for big investors and institutions. It’s all about keeping your crypto safe and working with decentralized finance (DeFi), more advanced financial services on the blockchain.
It’s very secure but mainly for big investors. It doesn’t have as many features as the regular version of MetaMask.
Pros
- High-grade security measures for institutional investors with valuable crypto holdings.
- Facilitates interaction with DeFi protocols, opening doors to advanced investment strategies.
Cons
- Geared towards institutional investors with a minimum investment threshold, not suitable for individual investors.
- Limited functionality compared to the retail version of MetaMask (fewer features).
- Requires a higher understanding of DeFi protocols, which can be complex for beginners.
Final Toughts of The Best Crypto Banks
In this article, we recommended the top 10 crypto friendly banks. Revolut and Juno are easy apps for crypto. Ally Bank links crypto to regular banking. Silvergate and Signature Bank are for big investors.
Kraken and Coinbase are for trading many cryptos. Cash App is simple for Bitcoin. Wirex lets you spend crypto with a card and MetaMask Institutional is for big investors. Pick what suits you best.
Frequently Asked Questions
What are crypto friendly banks❓
Crypto friendly banks offer services that allow customers to integrate their banking activities with cryptocurrency transactions. This is buying, selling, holding, and sometimes even earning interest on crypto assets.
Can you buy cryptocurrencies from crypto banks❓
Some crypto friendly banks allow direct purchases of cryptocurrencies. Others only provide services to track or manage your investments through external crypto exchanges.
What are the benefits of crypto-friendly banks❓
Benefits include the ease of managing traditional and crypto finances in one place, potentially lower fees, and stronger security.
Are there any risks in using crypto-friendly banks❓
Like any financial platform, risks include potential exposure to hacking, the volatility of crypto markets, and varying levels of regulatory compliance that can affect your assets.
How to choose the right crypto-friendly bank❓
Consider the bank’s security features, the range of crypto services, fee structures, ease of use, and customer support. Also, ensure the bank complies with relevant regulations.
What is crypto friendly banking❓
Crypto friendly banking refers to banks and financial institutions that support and facilitate transactions involving cryptocurrencies.
What are crypto friendly banks in Europe❓
Crypto-friendly banks in Europe include Revolut, N26, Bankera, Fidor Bank, Wirex, and Bitwala.
What banks are crypto friendly❓
Crypto-friendly banks include Revolut, N26, Bankera, Fidor Bank, Bitwala, Wirex, DBS Bank, Signature Bank, and Silvergate Bank, offering various services that integrate cryptocurrencies with traditional banking.