Since the pre-first century, merchants have practiced banking, giving grains and other equipment to farmers as a loan, same to merchants and vendors who needed small capital for their businesses.

As years go by, banking has evolved and become a well-organized system as we all know it today. Banknotes have been adopted and used not until recently, the occurrence of cryptocurrency began to be embraced in business transactions and other monetary services.

Cryptocurrencies are one of the hottest and in trend investments in the world market, making people normalize using bitcoins in every possible transaction. This currency will ultimately rule over traditional financial organizations and banks over time.

With this fact, central banks are beginning to invest in cryptocurrency while they overcome its threat and see its great potential in the worldwide market. Out of the 100 largest banks in the world, 55 banks were already confirmed to invest in cryptocurrency.

Here is the list of some banks that you may consider and offers modern crypto banking:

  • Wirex

Based in the UK, Wirex is one of the best mobile applications that allow people to buy and sell crypto. Wirex also offers benefits like cashback of 2.0% and a 16% interest on deposits of your savings accounts. They also offer 10% interest for your cryptocurrency.

The debit card Wirex gives to every account holder is currently used in different countries worldwide, making it convenient to create a Euro Business Account for entrepreneurs and people in business outside the UK. Having a Wirex account also gives you the privilege to buy, store and manage different types of cryptocurrency. It is also easy to set up and transfer whenever needed.

  • Ally Bank

Ally Bank was rebranded in 2010 and was initially known as General Acceptance Corporation before. They don’t have any banking locations and can be inquired virtually, making them compatible with cryptocurrency and offering services that will benefit bitcoins users.

Ally allows their account holders to buy Bitcoin and other cryptocurrencies using their credit or debit card. They also offer straightforward purchases and wire transfers using bitcoins.

  • Agribank

Agribank allowed businesses to improve in Europe using bitcoins, making it one of the most famous partners of crypto companies. Founded in Malta in 2012, it became well-known due to its favorable tax rate and legislation.

The bank is open to transactions using cryptocurrency while still focusing on the renewable industry and agriculture that have always been their main priority.

  • Barclays

As the largest bank in the UK, Barclays facilitates significant investments and transactions all over the world. They have changed their strategy about cryptocurrency and slowly began to embrace and accept bitcoins in recent years.

They allow their clients to make transactions using crypto. They are also active with blockchain technology and allow their cards to be used in purchasing cryptocurrency.

  • Simple Bank

Founded in Portland, Oregon, in 2009, Simple Bank is newly built in the United States and currently accepts US Citizens only. They are famous for their excellent services such as easy tracking of the customer’s budget and expenses all in the same place. This service is both vital and valuable for personal or even business use.

They also allow their clients to purchase Bitcoin and other cryptocurrencies using their credit or debit card in a secured manner.

  • National Bank of Canada

It is one of the largest right banks for crypto companies in North America due to its strong partnership with cryptocurrency exchanges. They allow their customers to use and purchase crypto using their credit cards. Many people prefer them because of their significant policies about bitcoins and other currencies. Another great thing about them is that they maintain highly secured transactions to protect their customers from any risks.

  • Goldman Sachs

The company was formed in 1869 and became one of the biggest names in the world of finance. They are famous for their lending, savings, and investment services, making them successful in global investing institutions.

They are also very supportive of cryptocurrency ever since and never hesitate in investing. It will naturally adapt to it and are now officially one of the most popular banks for being crypto traders and investors.

How to Open A Bank Account for Cryptocurrency?

Now that you have known different banks embracing the trend of cryptocurrency, you will now have the urge to open a bank account for cryptocurrency. But before that, you have to understand your primary goal fully and adequately research the bank that best suits your financial statement.

While on your research, take note of the following guidelines:

  • Banking Regulations

Consider which country you want your bank to be located in. Investigate its regulations and know how the country embraces crypto-related services, activities, and banking. They must always be in favor of cryptocurrency to avoid bankruptcy.

  • Country of Residence

You must also consider the location of your business and your country of residence because they significantly impact whether you are on the great side of investing in cryptocurrency.

  • Source of Funds

Proving cryptocurrency income is extremely important before opening a bank account. You must know the source of funds before taking the risk.

There are numerous banking options for the crypto industry. Once you are done with your research and have fully understood the possible results of investing in cryptocurrency, you can move forward and continue to your next step, which is opening a bank account.