Best Crypto-Friendly Banks You Should Know 2023
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List of the Best UK Digital Banks
Bank
Crypto account
Supported Cryptocurrencies
Crypto Conversion fee
Payment methods
Account fee
Revolut
Yes
Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), AAVE (AAVE), Litecoin (LTC), Chainlink (LINK), Polygon (MATIC)
2.5% for Standard and Plus users (and 1.5% for Premium and Metal users)
Credit/debit card, bank transfer
None
Open an Account
Quontic
Yes
Bitcoin
2%
Debit card
None
Ally Bank
No
Crypto-specific funds and stocks
N/A
Bank transfer, PayPal, credit/debit card
None
Bankprov
Yes
Bitcoin(BTC), Ethereum(ETH), Tether(USDT), Coin(USDC), XRP(XRP), Solana(SOL), Algorand(ALGO)
N/A
Debit card, bank transfer
None
Simple Bank
No
Bitcoin
N/A
Debit card, bank transfer
None
Wirex
Yes
Bitcoin (BTC), Litecoin (LTC), Ether (ETH), XRP (XRP), Ada (ADA), Dogecoin (DOGE)
None
Debit/credit card
None
USAA
No
None (only offers Coinbase integration)
N/A
N/A
None
JPMorgan Chase
No
Crypto investment funds
N/A
N/A
None
Monzo
No
None (offers integrations with various crypto exchanges)
N/A
N/A
None
Open an Account
Fidor
Yes
Bitcoin
1.5%
Debit/credit card, bank transfers
None
Revolut
Revolut Review
Open an account
Your capital is at risk.
With its launch in March 2020, Revolut is a new fintech player in the US. However, their innovative approach to banking has also made them a leader in the European market.
Users can purchase Bitcoin directly from the Revolut app on Android and iOS. With the app, you can buy crypto whenever you want. Or, you can set an auto exchange that purchases crypto when a certain exchange rate is reached.
It’s free to sign up, and you get access to early pay and an FDIC-insured account. Among the reasons Revolut is considered such a crypto-friendly bank is because its app offers cryptocurrency purchases. In the past, they weren’t able to withdraw crypto, but now customers can use wallets like Ledger can do so.
However, if you want the lowest possible fees, buying cryptos with Revolut might not be the best choice. Revolut charges a base fee of 2.5%, plus 0.5% if you trade over £1000. By upgrading to metal or premium accounts, you can reduce the fee to 1.5%, but that will cost you £6.99 or £12.99.
Revolut is making tremendous progress in the crypto space, however, it may not be the best choice for customers who want lower fees. Nonetheless, unlike some other banks, this is a bank that’s less likely to restrict your crypto activities compared to others.
Monzo
Monzo is a top crypto-friendly bank available to UK residents. Like Fidor, Monzo is a digital-only bank, so you must be comfortable using a mobile device to access its services. An extremely With Monzo, you won’t be charged any fees for card payments. They charge no fees for card payments, not even abroad, and the basic account itself is free.
The reason Monzo stands out as a crypto-friendly bank is that when most banks stopped supporting crypto exchanges during the Binance crisis in June/January 2023, Monzo let its customers know they would keep supporting them. However, there is, and still is, a small number of exchanges they don’t support, but this is understandable since it isn’t good to endorse illegal exchanges.
Quontic
Quontic is the first digital bank to offer Bitcoin Rewards checking accounts. Instead of cashback, you receive 1.5% Bitcoin on eligible debit card purchases. With this, you could earn crypto and see its value appreciate.
All the features of a traditional bank account are available, including mobile check deposits, online bill payments, and electronic transfers. You’ll also have free access to over 90,000 ATMs.
There’s a $500 minimum opening deposit. In addition, there’s no minimum daily balance requirement. As long as your Bitcoin account remains open, you’ll never lose your Bitcoin rewards.
Ally Bank
For crypto users in the US, Ally Bank is a great choice. The online bank is available 24/7 for crypto enthusiasts to buy and sell cryptocurrencies from different exchanges. This gives you great flexibility as you can choose from many exchanges that offer access to a wide range of cryptocurrencies.
With an APY of 1.40%, Ally offers savings accounts that are above average compared to other banks. Plus, its customers can invest in stocks without having to pay commission fees. A few examples of funds that offer exposure to crypto include the Grayscale Bitcoin Trust (GBTC), Osprey Bitcoin Trust (OBTV), or futures like the ProShares Bitcoin Strategy ETF (BITO).
A great all-around bank, Ally offers a convenient one-stop solution for your day-to-day banking needs as well as investments. There are no annoying monthly fees or minimum deposits, and there are even loans and retirement planning services available on the platform.
If you’re looking for a full-service bank with crypto options, Ally bank is a great choice. Despite not having native crypto exposure, the crypto funds and Coinbase integration are the next best thing. The company was founded in 2009, and it consistently ranks among the top online banks in the US. And if you love to bank on the go, then Ally Bank may be a great choice. It has a well-rated mobile app, which is great for banking no matter where you are.
Bankprov
The Provident Bank was rebranded as BankProv to become a crypto-friendly bank. For crypto-related businesses, which usually face banking difficulties, it now offers conventional banking solutions.
Using BankProv’s business checking accounts, crypto businesses can seamlessly manage their money between the traditional and crypto worlds. As a top crypto bank, it provides services around the world.
In addition, BankProv is a member of both the FDIC and DIF, ensuring the safety and security of your deposits without additional costs or complexity.
Through FDIC insurance, the company insures bank deposits up to $250,000. Meanwhile, over $100 million is insured through DIF.
Simple Bank
Simple Bank was founded as a Fintech startup. With its FDIC-backed/insured status, it has become one of the best banks for US citizens today.
As one of the most popular crypto-friendly banks in the US, this bank integrates with many cryptocurrency exchanges.
Direct buy-sell transactions are available through Simple Bank. As part of its global cryptocurrency network, Simple Bank allows its customers to use exchanges and access top crypto tokens, such as Bitcoin, Ethereum, Ripple, Litecoin, and more.
Unlike other banks, Simple Bank doesn’t set a limit for how many crypto transactions a customer can make. A unique feature of its platform is InstantSend Technology, which automates and accelerates the entire transaction process.
Wirex
London-based Wirex provides crypto wallets and crypto-friendly banking services for crypto transactions. In addition to supporting crypto businesses, financial institutions, and crypto exchanges, Wirex is among the top bitcoin-friendly banks.
Initially, Wirex currency accounts will be based in the UK, with British account numbers and sort codes, 100% secure, and fully registered with the U.K Financial Conduct Authority.
With the in-app DApp Browser, Wirex supports over 150 digital assets across numerous blockchain networks. As an added bonus, they provide you with a debit and credit card linked to your account, and it gets even better from there: Whenever you make in-store retail purchases with this card, you’ll receive 0.5% cash back in BTC (Wirex calls it crypto back).
USAA
USAA is a financial service company for U.S. military members based in Texas, USA. The company provides services to active, retired, and honorably separated U.S. military officers and enlisted personnel.
Furthermore, USAA has invested $150 million in Coinbase to make it easy for USAA bank account holders to interact with Coinbase’s Bitcoin account.
Your USAA account allows you to view and monitor your transactions on Coinbase, as well as keep track of your Bitcoin wallet on Coinbase. All your devices are seamlessly integrated with USAA’s mobile application. The app provides all the functionality of the web portal while being easy to use.
JPMorgan Chase
JPMorgan Chase was the first US bank to develop its own cryptocurrency and blockchain technology for sending payments overseas. Chase’s cryptocurrency offerings have been expanded to include six crypto funds for its wealth management clients, as well as integration with major exchanges like Coinbase.
The company once charged fees for crypto transactions, but it reversed course amid a class-action lawsuit by refunding 95% of those fees and adding a coding category for crypto.
As JPMorgan Chase continues to offer more crypto opportunities for its customers, it has emerged as one of the most successful crypto firms.
Fidor
Since 2014, Fidor has emerged as a favorite among crypto enthusiasts. At the moment, Fidor operates only inside Germany as a digital-only bank. However, due to their undeniable crypto-friendliness, they deserve to be mentioned. Additionally, Fidor is easy to set up and charges are reasonable. Fees at Fidor are €5 a month, but you can offset these fees if you make more than 10 transactions per month.
In 2014, Fidor partnered with a German exchange called Bitcoin.de. With this partnership, customers were able to buy cryptocurrencies within seconds after depositing funds. Today, they also have a partnership with Kraken and are Kraken’s funding provider, so those living in Germany who use Kraken will find this bank a natural choice. The fact that they have direct partnerships with crypto exchanges means that they are unlikely to suddenly freeze your crypto transactions.
