We may receive compensation if you visit partners we recommend. Read our advertiser disclosurefor more information.
Cryptocurrencies can be risky investments. Please read our terms of service and risk warning for more information.
Since Satoshi made the first one in 2009, cryptocurrencies have upset the world of traditional finance. Due to the fact that they were not controlled by a central authority, many governments and financial institutions saw them as the enemy and banned them from most or all of their domains.
That was then. Now, the case is different. And, while some traditional banks and governments continue to be skeptical of blockchain technology, many others have realized that it can work in 2019).
One of the notable things about this bank is that it offers different types of accounts and financial instruments for its users. Customers can choose among three types of checking accounts, two different types of savings accounts, and Certificate of Deposit (CD) accounts.
Quontic also excels with regard to asset security. The bank is registered with the FDIC (Federal Deposit Insurance Corporation), the government-approved insurance agency of the US. Thus, each depositor is insured for up to $250,000 worth of assets.
Quontic offers three checking accounts, one of which is a Bitcoin rewards checking account. This account is run in partnership with NYDIG, a Bitcoin company that helps institutions with crypto services. Thus, qualified transactions get 1.5% cashback in USD, which the company uses to purchase Bitcoin the following day.
Here are some of the features of the Quontic Bitcoin Rewards Checking Account:
The Quontic Bank is one of the first US banks to offer its customers a Bitcoin rewards checking account. Therefore, it is our pick for the best Bitcoin-friendly bank.
The Bank of America (BoA) is one of the United States’ largest and oldest banks. It has been around for over 200 years and has over $3 trillion worth of assets under its control. As a giant in the banking sector, the bank also offers other features like individual retirement accounts, small business services funding, wealth management, and loans of different kinds.
The bank offers one checking account that comes in three levels, as well as three different savings accounts (one primary savings account and two children’s accounts). There are also two CD accounts. However, these savings accounts come with low interest compared to other banks.
Bank of America doesn’t directly offer support for crypto assets. But through Merrill Edge, one of its subsidiaries, it offers crypto banking services to its customers. Merrill Edge is a digital payment company that lets people buy ETFs (exchange-traded funds) that are backed by cryptocurrencies. bankBank is a popular bank in the US with both physical and online branches. It was started in New York in 1799. Because it is one of the most trusted banks in the country, it now has assets worth trillions of dollars.
Chase Bank, like many other big US banks, has a wide range of investment options, from checking and savings accounts to Certificates of Deposit. It also provides auto and mortgage loans, different credit cards, and other investment services. However, the interest it offers is meager compared to online banks.
First, customers of JPMorgan Chase Bank can link their bank accounts to the Coinbase and Gemini cryptocurrency exchanges without any trouble. These partnerships started in May 2020 and served as the pacesetters for other financial institutions in the US and beyond. So, people who use these exchanges can easily move USD in and out of their accounts by going straight to their bank.
In August 2021, Chase Bank also started a Bitcoin fund, which shows that it is becoming more interested in products that use blockchain. The fund was made in collaboration with NYDIG, a digital payment platform, and was made available to the bank’s wealthier customers. The bank also exposed its customers to five other crypto funds, four of them from the Grayscale Investments company and the other one from Osprey Funds.
To cap it off, Chase Bank created its own digital currency in early 2021. The coin, JPM, is a stablecoin pegged at a 1:1 value ratio for the assets under Chase Bank’s control. Institutional investors are the only ones who can use it, and it speeds up financial transactions on the JP Morgan platform.
Is it a crypto-friendly bank?
BankProv is a haven for crypto traders who want a blend of traditional and digital banking services. Here are some of the crypto-friendly services it renders:
As the name may have implied, a Bitcoin ATM is an automated teller machine that allows users to buy and sell bitcoin directly. BankProv supports 51 Bitcoin ATMs (BTMs) across 33 states in the United States. Customers can also request for BTM vaults to be placed in new areas.
BankProv directly supports crypto-backed lending using Ethereum and Bitcoin as the lending instruments. This service is offered through a partnership with Anchorage Digital and strengthens BankProv's position as one of the best crypto banks in the US.
API stands for "application programming interface." It is a way for different programs to talk to each other based on a set of instructions. feature, you can trade and buy cryptocurrency with your cryptocurrency wallet or exchange while still being connected to your BankProv bank account.
Through the platform’s Banking-as-a-service (BAAS) feature, BankProv has created partnerships with various crypto establishments, including Etana custody, Rocketplace, Fortress Trust, CrossTower, etc.
Like any other bank, BankProv has its shortcomings. Still, it is a very supportive bank for crypto companies and activities.
Ally Bank is a fully online bank that offers the rare trifecta of a high savings rate, low maintenance fees, and no minimum balance requirement. It was established in 2009 as the online branch of Ally Financial Incorporated, a banking service provider that has been around since the 1920s.
Being a fully online bank, Ally Bank supports various mobile deposit methods. You can set it up to directly receive your paychecks or make deposits with your smartphone through its eCheck deposit feature. The bank also supports Zelle payments as well as mail deposits.
Ally Bank doesn't directly support crypto trading, but it does offer crypto-inclusive funds like the Grayscale Bitcoin Trust (GBTC) and the ProShares Bitcoin Strategy ETF (BITO) that give you access to crypto assets.
Also, Ally Bank customers can easily link their bank cards to the Coinbase cryptocurrency exchange. From there, they can make cryptocurrency transactions without any problems. Ally Bank supports wire transfers into and out of Coinbase accounts in addition to bank card transactions.
Ally Bank is one of the best banks for crypto because it works with Coinbase and has ETFs that include crypto.
Don’t let the name fool you; the USAA is more than an automobile establishment. It started in 1922 as a car insurance provider for military personnel and has since grown into a full-fledged financial services provider for military citizens and their family members.
USAA's platform has more benefits than just low car insurance rates, like a program to help you get a new car, an accident forgiveness program, and a program called SafePilot Telematics. These features have made it the hub of customer satisfaction for automobile insurance in the US. But why is it a crypto bank, and how does it service crypto businesses? Consider below:
USAA is one of the direct investment partners of the Coinbase crypto exchange. This partnership started in 2015, when USAA and some other institutions and individuals raised $75 million in an investment round for the then-young crypto exchange.
Because of this partnership, it is easy to connect the USAA app and website to Coinbase accounts. So, you can use your USAA app to check your Coinbase balance, keep track of your cryptocurrency transactions, and move money from fiat to cryptocurrency. You can even link your credit or debit card to the exchange and make crypto payments easily.
Even though USAA is a traditional insurance and banking system, its financial and platform support for Coinbase makes it one of the best crypto-friendly banks in modern times.
Juno (formerly OnJuno) is another digital banking platform that deserves to be on this list. It was started in 2019, with the goal of being where crypto and banking meet. Even though it is not technically a bank, it offers banking services for its customers in partnership with Evolve Bank and Trust, a Tennessee-based US bank.
Through a partnership with a bank, Juno offers two high-interest checking accounts (called "basic" and "metal") that don't require a minimum deposit and pay up to 1.2% APY. The main difference between the basic and metal checking accounts is that you earn higher interest rates with the metal checking account.
As with most US banks, deposits on Juno are insured by the FDIC up to a maximum of $250,000 per depositor. Also, it charges low fees and offers free access to about 80,000 ATMs in different locations in the country.
Several features make Juno a hot topic in any discussion regarding crypto banking. Some of them are:
Yes, you read right! The Juno platform does not charge any fees for purchasing digital currencies. Through its Juno Pay feature, you can buy Bitcoin, Ethereum, USDC, Avalanche, and Stellar directly from your bank account. Supported payment methods are bank cards, Cash App, and Venmo.
Juno makes it easy for you to get paid in BTC, ETH, or a basket of other cryptocurrencies. All you need is your crypto wallet, an account with Juno, and as little as $100 to start with. Juno takes care of the process and can convert all or part of your paycheck into crypto, depending on your instructions. You could set this up automatically or manually, according to this article.
With your Juno debit card, you can get up to a 10% cashback reward when you make crypto purchases. Cashback rewards are available at some stores across the country (up to 43 at last count) and show up in the user's account 15 days after the purchase.
Even though Juno is not a bank in the traditional sense, it is one of the best ways for US citizens to use crypto banking.
There used to be a time when cryptocurrencies and traditional banking services couldn't work together. Now, more and more financial institutions have merged crypto services with their operations. So, if you are a crypto loyalist but still want the security that traditional currencies offer, you can make your pick from the list of crypto-friendly banks we have covered in this article.
We may receive compensation if you visit partners we recommend. Read our advertiser disclosurefor more information.
Cryptocurrencies can be risky investments. Please read our terms of service and risk warning for more information.
Since Satoshi made the first one in 2009, cryptocurrencies have upset the world of traditional finance. Due to the fact that they were not controlled by a central authority, many governments and financial institutions saw them as the enemy and banned them from most or all of their domains.
That was then. Now, the case is different. And, while some traditional banks and governments continue to be skeptical of blockchain technology, many others have realized that it can work in 2019).
One of the notable things about this bank is that it offers different types of accounts and financial instruments for its users. Customers can choose among three types of checking accounts, two different types of savings accounts, and Certificate of Deposit (CD) accounts.
Quontic also excels with regard to asset security. The bank is registered with the FDIC (Federal Deposit Insurance Corporation), the government-approved insurance agency of the US. Thus, each depositor is insured for up to $250,000 worth of assets.
Quontic offers three checking accounts, one of which is a Bitcoin rewards checking account. This account is run in partnership with NYDIG, a Bitcoin company that helps institutions with crypto services. Thus, qualified transactions get 1.5% cashback in USD, which the company uses to purchase Bitcoin the following day.
Here are some of the features of the Quontic Bitcoin Rewards Checking Account:
The Quontic Bank is one of the first US banks to offer its customers a Bitcoin rewards checking account. Therefore, it is our pick for the best Bitcoin-friendly bank.
The Bank of America (BoA) is one of the United States’ largest and oldest banks. It has been around for over 200 years and has over $3 trillion worth of assets under its control. As a giant in the banking sector, the bank also offers other features like individual retirement accounts, small business services funding, wealth management, and loans of different kinds.
The bank offers one checking account that comes in three levels, as well as three different savings accounts (one primary savings account and two children’s accounts). There are also two CD accounts. However, these savings accounts come with low interest compared to other banks.
Bank of America doesn’t directly offer support for crypto assets. But through Merrill Edge, one of its subsidiaries, it offers crypto banking services to its customers. Merrill Edge is a digital payment company that lets people buy ETFs (exchange-traded funds) that are backed by cryptocurrencies. bankBank is a popular bank in the US with both physical and online branches. It was started in New York in 1799. Because it is one of the most trusted banks in the country, it now has assets worth trillions of dollars.
Chase Bank, like many other big US banks, has a wide range of investment options, from checking and savings accounts to Certificates of Deposit. It also provides auto and mortgage loans, different credit cards, and other investment services. However, the interest it offers is meager compared to online banks.
First, customers of JPMorgan Chase Bank can link their bank accounts to the Coinbase and Gemini cryptocurrency exchanges without any trouble. These partnerships started in May 2020 and served as the pacesetters for other financial institutions in the US and beyond. So, people who use these exchanges can easily move USD in and out of their accounts by going straight to their bank.
In August 2021, Chase Bank also started a Bitcoin fund, which shows that it is becoming more interested in products that use blockchain. The fund was made in collaboration with NYDIG, a digital payment platform, and was made available to the bank’s wealthier customers. The bank also exposed its customers to five other crypto funds, four of them from the Grayscale Investments company and the other one from Osprey Funds.
To cap it off, Chase Bank created its own digital currency in early 2021. The coin, JPM, is a stablecoin pegged at a 1:1 value ratio for the assets under Chase Bank’s control. Institutional investors are the only ones who can use it, and it speeds up financial transactions on the JP Morgan platform.
Is it a crypto-friendly bank?
BankProv is a haven for crypto traders who want a blend of traditional and digital banking services. Here are some of the crypto-friendly services it renders:
As the name may have implied, a Bitcoin ATM is an automated teller machine that allows users to buy and sell bitcoin directly. BankProv supports 51 Bitcoin ATMs (BTMs) across 33 states in the United States. Customers can also request for BTM vaults to be placed in new areas.
BankProv directly supports crypto-backed lending using Ethereum and Bitcoin as the lending instruments. This service is offered through a partnership with Anchorage Digital and strengthens BankProv's position as one of the best crypto banks in the US.
API stands for "application programming interface." It is a way for different programs to talk to each other based on a set of instructions. feature, you can trade and buy cryptocurrency with your cryptocurrency wallet or exchange while still being connected to your BankProv bank account.
Through the platform’s Banking-as-a-service (BAAS) feature, BankProv has created partnerships with various crypto establishments, including Etana custody, Rocketplace, Fortress Trust, CrossTower, etc.
Like any other bank, BankProv has its shortcomings. Still, it is a very supportive bank for crypto companies and activities.
Ally Bank is a fully online bank that offers the rare trifecta of a high savings rate, low maintenance fees, and no minimum balance requirement. It was established in 2009 as the online branch of Ally Financial Incorporated, a banking service provider that has been around since the 1920s.
Being a fully online bank, Ally Bank supports various mobile deposit methods. You can set it up to directly receive your paychecks or make deposits with your smartphone through its eCheck deposit feature. The bank also supports Zelle payments as well as mail deposits.
Ally Bank doesn't directly support crypto trading, but it does offer crypto-inclusive funds like the Grayscale Bitcoin Trust (GBTC) and the ProShares Bitcoin Strategy ETF (BITO) that give you access to crypto assets.
Also, Ally Bank customers can easily link their bank cards to the Coinbase cryptocurrency exchange. From there, they can make cryptocurrency transactions without any problems. Ally Bank supports wire transfers into and out of Coinbase accounts in addition to bank card transactions.
Ally Bank is one of the best banks for crypto because it works with Coinbase and has ETFs that include crypto.
Don’t let the name fool you; the USAA is more than an automobile establishment. It started in 1922 as a car insurance provider for military personnel and has since grown into a full-fledged financial services provider for military citizens and their family members.
USAA's platform has more benefits than just low car insurance rates, like a program to help you get a new car, an accident forgiveness program, and a program called SafePilot Telematics. These features have made it the hub of customer satisfaction for automobile insurance in the US. But why is it a crypto bank, and how does it service crypto businesses? Consider below:
USAA is one of the direct investment partners of the Coinbase crypto exchange. This partnership started in 2015, when USAA and some other institutions and individuals raised $75 million in an investment round for the then-young crypto exchange.
Because of this partnership, it is easy to connect the USAA app and website to Coinbase accounts. So, you can use your USAA app to check your Coinbase balance, keep track of your cryptocurrency transactions, and move money from fiat to cryptocurrency. You can even link your credit or debit card to the exchange and make crypto payments easily.
Even though USAA is a traditional insurance and banking system, its financial and platform support for Coinbase makes it one of the best crypto-friendly banks in modern times.
Juno (formerly OnJuno) is another digital banking platform that deserves to be on this list. It was started in 2019, with the goal of being where crypto and banking meet. Even though it is not technically a bank, it offers banking services for its customers in partnership with Evolve Bank and Trust, a Tennessee-based US bank.
Through a partnership with a bank, Juno offers two high-interest checking accounts (called "basic" and "metal") that don't require a minimum deposit and pay up to 1.2% APY. The main difference between the basic and metal checking accounts is that you earn higher interest rates with the metal checking account.
As with most US banks, deposits on Juno are insured by the FDIC up to a maximum of $250,000 per depositor. Also, it charges low fees and offers free access to about 80,000 ATMs in different locations in the country.
Several features make Juno a hot topic in any discussion regarding crypto banking. Some of them are:
Yes, you read right! The Juno platform does not charge any fees for purchasing digital currencies. Through its Juno Pay feature, you can buy Bitcoin, Ethereum, USDC, Avalanche, and Stellar directly from your bank account. Supported payment methods are bank cards, Cash App, and Venmo.
Juno makes it easy for you to get paid in BTC, ETH, or a basket of other cryptocurrencies. All you need is your crypto wallet, an account with Juno, and as little as $100 to start with. Juno takes care of the process and can convert all or part of your paycheck into crypto, depending on your instructions. You could set this up automatically or manually, according to this article.
With your Juno debit card, you can get up to a 10% cashback reward when you make crypto purchases. Cashback rewards are available at some stores across the country (up to 43 at last count) and show up in the user's account 15 days after the purchase.
Even though Juno is not a bank in the traditional sense, it is one of the best ways for US citizens to use crypto banking.
There used to be a time when cryptocurrencies and traditional banking services couldn't work together. Now, more and more financial institutions have merged crypto services with their operations. So, if you are a crypto loyalist but still want the security that traditional currencies offer, you can make your pick from the list of crypto-friendly banks we have covered in this article.
