Cryptocurrencies are revolutionizing the way we think about money. From decentralization to anonymity to low fees, these assets are changing the world as they gain popularity and adoption. Whatever your take on the future of crypto, it has already started to shape our society for better or for worse.
As cryptocurrencies continue their explosive growth, one question seems inevitable: Are there banks and financial institutions suitable for cryptocurrencies?
The answer to this question is a definite yes. Below are some of the banks that have been at the forefront of innovation by implementing blockchain technology into their core systems.
Previously known as Bitwala, Nuri is a German bank specializing in Blockchain technology. Customers can easily create a crypto-enabled bank account and manage their assets through the Nuri mobile or web app, which uses Bitwala’s banking platform to give users access to over 20 different cryptocurrencies.
This bank is available to millions of customers in the EU, UK, Switzerland and other jurisdictions. It is considered one of the few banks to offer secure wallets and vaults for crypto storage, which is a rare find in the traditional banking industry.
2. Fidor Bank
Since 2014, this bank has proven to be the favorite among cryptocurrency enthusiasts. Fidor Bank is regulated by the German Federal Financial Supervisory Authority (BaFin). He has been a pioneer of blockchain technology since its founding. He was one of the first to implement Ripple’s distributed ledger technology into his system for cross-border fiat currency transactions.
The bank offers its clients exclusive access to cryptocurrencies including Bitcoin Cash, Ethereum, Litecoin, etc., making it an attractive option for those who wish to diversify their portfolio with alternative coins. In addition to this, they also offer trading platforms where users can trade cryptocurrencies directly from their account interface. The only downside is that this bank is only available to German residents.
Monzo is a UK-based digital bank that offers its customers a prepaid debit card. It also has an app where users can manage their accounts and track their spending.
The company announced in February 2018 that it would add support for Bitcoin, Ethereum, Litecoin, and Ripple to its app. This made it one of the first mainstream banks to offer direct support for cryptocurrencies. Monzo also allows users to buy and sell cryptocurrencies directly from a dedicated mobile app, making it a great option for those looking to enter the market without having to go through an exchange.
With over 15 million users from different countries around the world, Revolut is considered the most encrypted bank in the modern market. This bank allows customers to buy cryptos directly through the mobile application. They also provide an option for users who wish to trade their assets on a dedicated trading platform integrated with Revolut’s interface. This allows them to track and manage their portfolio across multiple exchanges in real time.
Revolut offers its services in most countries of the world including Asia, North America, Europe, Australia / New Zealand and other jurisdictions where there are growth opportunities. This makes it one of the best options for anyone who wants to get into cryptocurrency investments while managing your fiat holdings at the same time!
Even though older banks tend to be more resistant to crypto, some have started to implement blockchain technology into their core systems. One of these banks is BankProv (formerly known as The Provident Bank) – which was established over 200 years ago. This bank has built its own proprietary payment gateway for merchants who use crypto-currencies as a form of payment through the e-commerce industry.
This bank has a cryptocurrency segment on its website that offers users a wide range of different coins to invest in. BankProv is one of the few banks that allows you to buy crypto with a credit card, making it a great option for crypto newbies. space out.
The list of banks mentioned in this article is by no means exhaustive, but it gives a good overview of some of the best options available for those looking for a reliable and secure banking experience with cryptocurrencies. you can find others crypto-friendly banks by Tezro here. So, if you are thinking of going into the market, be sure to check out one of these banks! They just might be what you need to get started. Thanks for reading!