Every bank has a different policy when it comes to cryptocurrencies and their customers.
Some are relatively crypto-friendly, while others show a lot more hostility and will even go so far as to close their customer's accounts.
That's why I thought it would be worth putting together a video sharing the best and worst banks for cryptocurrency investors.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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As much as we all dislike banks, we all know that they are one of the more important ways of getting in and out of the cryptosphere. This post was a really needed one, particularly when so many good options were shared in comments section (of the last post too). I hope people would start talking more about which banks are more favorable for investors and traders of crypto market.
This being said, most if the folks here know to cautious and wary, even of the best banking services because at the end of the day banking system is at odds with the world of crypto and their services and contracts are updated fairly quickly. So one bank that might be favorable now may not be as benign a few months later. Thus we not only need a list but a list that is updated regularly.
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I know of one bank that handles crypto currency well
It supports trading and holding of crypto especially in IRA.
Discover bank .
The new member banks as of late August 2017 are Barclays, Credit Suisse, HSBC, State Street, MUFG, and CIBC.
Thanks for the information man
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This is a great topic to talk about.
None of these banks exist in my country (Croatia), eventhough none of our banks are Croatian, and they are all called in Croatian names (for example, Zagrebacka banka --> Zagreb bank), but none of these have Croatian owners.
So, maybe these banks have same owners, just are called different.
I laughed when you said there are only 4 good banks.
It seems like they don't like crypto.
I mean, it has sense, because crypto endangers the existence of the banks.
Atleast few of the functions of the bank.
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You think you have it bad in the UK. I'm in Korea and because I'm a foreigner I'm not allowed to send fiat to or from my exchange from my bank account. The only way I can get funds into my exchange account is by a friend sending crypto. It's even difficult for Koreans. Each exchange has only one set bank that it can use, and they aren't allowing people to open new accounts just for crypto. No outright crypto ban, but heavy regulation has dampened the market.
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Have you heard about steempay the function of SteemPay is converting the local currency to SBD and vice versa, and helping the sellers and buyers by simplifying the purchasing process as possible. May be you can do a review
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Bank and Cryptocurrencies are not the same thing. Physical currency and crpyto currency are two different things.
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First, you’ll have to link your Hopper to the exchange where your funds are. Then, you can choose between signalers or our exclusive strategies to configure your Hoppers trading style. Your Hopper will then work around the clock, pushing to make profitable trades for you. While you eat, while you sleep, your hopper will be trading. Be a trading expert in your off-time or simply kick back and let your hopper handle it. It’s all possible with Cryptohopper.
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I think its high time people that thinking of setting up new ICOs that will fill this void. A link between converting your cryptocurrencies to fiat.
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Come to think of it, I used to really hype Chase.
I know quite a number, particularly Fidor bank, that provides cryptocurrency services as easily and uncomplicated as possible for the entire community.
Truly being able to fully move from using fiat currencies to running transactions in crypto may not be so easy afterall and it propels for new banking structure ofcourse.
Thank you for sharing
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your every post new experience for us.
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A bit different from what I learned in earlier post this seems to be more details and contain subtantial information base on your research, your opinion never once fall me that is so cool. Bank to me is just nothing rather than a warehouse where you dump goods only to be taken at any time convenient for you which wont actually appreciate but only bound to meet it doom like pesticide, bank has the same features . I can't wait to see more update research from you
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Yes sir you are right, Every bank has a different policy when it comes to cryptocurrencies and their customers.
Thanks for great information share with us.
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Like I read and watch from the last post earlier on, your opinion and research is really superb, just to actually know how the bank implement their stuff, that is really cool of you, bank has been crying a ever losing costumers and I believe in the nearest future they are going to lose more since no one is ready to put money where it won't actually appreciate much longer compare to the immense profit derive from cryto currency related. I see future out of cryto currency most especially steemit.
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I am glad to see your awesome article..Thanks for share about Best & Worst BANKS for Cryptocurrency Investors.......
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This video is awesome, some bank doesn't allowed transactions on cryptocurrency this is due to transparency that Involved, backlay is still the most reliable bank.
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جميل
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Shosing the right bank is really important
Thank you
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With Steems interest rates I'm thinking about storing money in STEEM DOLLARS. great informative post as always @louisthomas ! I'm new here and you have given me invaluable advice.
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Indeed some banks act unfriendly to cryptocurrency transactions, perhaps for some reason.thank you for sharing..
Thanks @louisthomas
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Sir @louisthomas plz tell me why in some countries cryptocurrency are ban for example India.. What is the reason Sir?
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Part of the problem is on the other side. The cryptocurrency exchanges do not acccept all of the usual methods of transferring funds. Many of course accept only cryptocurrency , usually bitcoin.....which does not help one trying to use fiat currency I have found an exchange that accepts personal cheques. That works. The bank is thereby excluded from any discretionary input.
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