And What That Really Means
It is 2019 folks. And Bitcoin is 10 years old already. Despite the continuing polarization of opinion on whether or not big banks should be working with Bitcoin (or any similar digital currencies), the winds have slowly been shifting towards it. For now, there are several U.S. based banks that are currently extremely Bitcoin-friendly.
Let’s Start With The List
These banks provide cryptocurrency friendly services for the public, offering various services that facilitate BTC trading and are not afraid to work with crypto assets. Though many Bitcoin experts will tell you that financiers will work with BTC once they receive legal status, these banks are ahead of the curve and by so doing, they are leading the trend.
Ally bank is user convenient and exclusively online with 24/7 customer support. They boast both good comment from clients and great plans for banking, already giving them sway in trust with crypto owners.
After their rebrand in 2010, the owners went further than their banking counterparts to be leaders in cooperation with the cryptocurrency industry. Banking clients can buy coins with their debit cards and link their accounts to Coinbase profiles. While credit cards are also allowed, there are fees involved.
USAA bank is a Coinbase partnered bank allowing users to use their mobile app to check their bitcoin balances and invest in the crypto exchange. It supports Bitcoin and was the first major bank to make investments in the online trading platform. Because your Coinbase account is directly linked with your bank account, it makes for a unique and direct user experience that could be considered invaluable, allowing you to monitor transactions more closely, check balances, and purchase crypto assets easier.
Simple Bank is a U.S. based bank that works freely with various crypto exchanges and large transactions. They offer users the ability to sell and buy cryptocurrencies any time and operate entirely online without any actual branches. Using the platform, you can access your account, make transactions, and run it on gadgets. Although you can freely trade 24/7, it is important to note that it is only available to U.S. citizens.
The Future Of Bitcoin Banking
Change is slow but this tech is maturing, as is public opinion and government attitudes towards it. With states and countries imposing regulations to protect users and encourage growth, and Wallstreet publishing terms of value for it, there is a rising notion that digital currencies may be around to stay.
Banks have continued to digitize services, some are even incorporating blockchain technology services to streamline their banking services. As more people become interested in purchasing digital currency and the online campaigning to renew interest continues, the whole market will become less mistrusted, more understood, and hopefully more stable- although Bitcoin has had a steady rise in value over the last 10 years despite its bubble and bust market cycle.
If the tides continue changing for the world of cryptocurrency, it can be easy to conclude that more banks will eventually become friendly to Bitcoin.