8 BEST Crypto Friendly Banks in USA (2024)

Crypto-friendly banks, embracing cryptocurrencies for monetary transactions, enable customers to access lower fees for exchanges between cryptos and traditional currencies. These banks integrate both cryptocurrency and conventional banking operations.

Based on our research, here’s our list of BEST Crypto Friendly Banks in the USA

6) BankProv

7) Juno

8) Ally

Binance, a leading cryptocurrency exchange, offers comprehensive financial services similar to traditional banks, including loans, credit cards, and fixed deposits. It features a Binance Visa Card, enabling purchases at 60 million merchants globally with cryptocurrencies. This platform excels in providing a digital wallet for trading over 150 cryptocurrencies, catering to various trading experience levels. To get started, a valid ID document, such as a driver's license or passport, is required.

Features:

• Binance ensures stable returns on StableCoins investments.
• Offers both fixed-term and open-ended savings options.
• Enables borrowers to use their cryptocurrency as collateral for loans through Binance.
• Provides competitive transaction fees and interest rates, minimizing slippage and additional charges.
• Hosts a variety of trading platforms tailored to traders with varying levels of expertise.
• Key Offerings: Diverse trading platforms are available to suit traders from novice to expert levels.
• Documentation Requirement: A valid identification document is necessary for account verification.

Pros:

• Features peer-to-peer (P2P) trading functionality.
• Offers round-the-clock customer support.
• Presents both basic and advanced interfaces for a range of trading activities.

Cons:

• It may present a learning curve for those new to cryptocurrency trading.

Revolut, a versatile financial super app, offers a range of services including a prepaid debit card, crypto exchanges, remittances, and P2P transfers. Available in the United States, European Economic Area, Australia, Singapore, Switzerland, Japan, and the United Kingdom, it focuses on seamless money management through Revolut Vaults and Analytics, early salary access, travel benefits, and even Revolut <18 for younger users. A Social Security Number is required for US users.

Features:

• Engage in cryptocurrency trading without any commission fees for monthly transactions up to $200,000.
• Access over 30 different cryptocurrencies for investment using any fiat currency of your choice.
• Effortlessly accumulate crypto savings by rounding up your card transactions to the nearest whole number.
• Stay informed and in control with instant notifications, price alerts, and automated currency exchanges.
• Benefit from extensive multi-currency support, accommodating up to 30 different currencies.
• Utilize Revolut's personal and business prepaid debit cards to seamlessly spend from your account funds.
• Keep abreast of the financial markets with daily updates and trend analyses.

Pros:

• User-friendly interface, making navigation and operation straightforward.
• Integrated cryptocurrency exchange feature for convenient digital asset trading.
• Compatibility with international money transfer systems like SWIFT and SEPA.

Cons:

• Possible temporary freezing of customer accounts for security verifications or concerns.

Wirex, based in the UK, revolutionizes digital and traditional currency transactions by enabling users to send, receive, exchange, and spend a variety of currencies effortlessly. This crypto-friendly banking platform integrates a Mastercard feature, allowing seamless real-time spending of 21 cryptocurrencies and traditional currencies, with just a valid government ID and photo required for setup.

Features:

• Wirexapp offers a versatile platform for handling both cryptocurrencies (such as Bitcoin, Litecoin, and Ripple) and fiat currencies (including GBP, USD, and EUR).
• The platform supports funding your account through various methods, including credit cards, debit cards, and bank transfers.
• Provides a seamless service for exchanging between cryptocurrencies and traditional currencies at real-time market rates.
• Core Offerings: Includes an integrated cryptocurrency exchange for user convenience.

Pros:

• Wirexapp facilitates the transfer of a wide range of digital currencies, enhancing financial flexibility.
• Offers users the freedom to engage in global transactions without the limitations of geographical boundaries, opening a world of unrestricted international payments.

Cons:

• A limitation of Wirexapp is its non-universal acceptance, as it is not recognized at certain vendors and locations.

Robinhood, a pioneering platform in the US, offers a specialized cryptocurrency trading service with a built-in wallet and exchange. Focusing primarily on facilitating the storage and trading of major cryptocurrencies like BTC, ETH, and XRP, it caters exclusively to the financial and business sectors. To utilize its services, a valid national ID or US passport is required.

Features:

• Robinhood stands out as an exceptionally affordable cryptocurrency exchange, boasting the most competitive fees in the market.
• It offers the flexibility of no minimum investment requirement.
• Seamlessly integrates stock trading with cryptocurrency options.
• Allows for the purchase of fractional shares, enhancing accessibility.
• Facilitates automatic reinvestment of dividends.
• Provides complimentary ATM withdrawals.
• Simplifies the account opening process, requiring minimal initial investment.

Pros:

• Offers a user-friendly interface, enhancing user experience.
• Features a smooth, integrated cryptocurrency exchange within the platform.
• Gains credibility and trust through support from well-known investors.

Cons:

• Details regarding the specifics of its banking services remain somewhat vague.

Bitcoin IRA, an innovative financial service firm from Texas, USA, specializes in integrating banking, insurance, and real estate services with cryptocurrency. Seamlessly connected with Coinbase, it offers a unique platform for tracking Bitcoin wallets and monitoring transactions without monthly fees. This versatile service simplifies bill payments and money transfers, all in a single, user-friendly interface.

Features:

• Enhance your retirement savings with a tax-advantaged IRA tailored for growth.
• Experience a suite of advanced tools, including real-time price monitoring, comprehensive portfolio analytics, and in-depth chart evaluations.
• Trade securely with robust SSL encryption for all transactions.
• Enjoy the flexibility of trading cryptocurrencies at your convenience from any location.
• Benefit from round-the-clock live customer assistance and specialized email support.
• Versatile payment options are available, encompassing traditional fiat deposits, PayPal, seamless bank transfers, and the use of credit/debit cards.

Pros:

• Utilize a specialized crypto bank to efficiently manage your Bitcoin holdings on Coinbase.
• Recognized for its reliability and reputation, this bank stands out in the cryptocurrency trading sector.
• Withdraw without commission fees at over 60,000 ATMs across the country.

Cons:

• The platform may present challenges in terms of ease of use and user-friendliness.

6) BankProv

BankProv, the 10th oldest bank in the United States, stands as a pioneering institution in the crypto-friendly banking sector, providing comprehensive USD banking services tailored for cryptocurrency enterprises. As a member of both FDIC and DIF, it assures fully-insured USD deposits. Its offerings include USD accounts specifically designed for crypto companies, innovative API banking solutions, and secure cash vault services for Bitcoin ATM operators. Essential documentation for accessing these services includes a Social Security number and a driver's license or passport.

Features:

• Complete insurance for all USD deposits
• Diverse payment options are available
• Client-to-client transfers around the clock via the ProvXchange network
• Customized account setup experience
• Accessible on multiple platforms: Web, iOS, and Android
• Business Orientation: Comprehensive USD banking services tailored for cryptocurrency enterprises

Pros:

• Specialized in cryptocurrency banking and financing
• A variety of packages designed to meet the needs of different individuals and commercial entities

Cons:

• Absence of Annual Percentage Yield (APY) on savings below $50,000

7) Juno

Juno, an innovative United States-based Neo-banking platform, revolutionizes full-service USD banking solutions for cryptocurrency enthusiasts. Offering a unique blend of traditional banking and crypto trading, it enables users to effortlessly sell, buy, and store popular cryptocurrencies like BTC, ETH, Polygon, and USDC. This all-in-one crypto-friendly checking account, accessible with a driver's license, passport, or legal identification, aims to accelerate financial goals with its seamless integration of bank accounts and debit cards.

Features:

• Zero requirement for maintaining a minimum balance.
• Ability to engage in cryptocurrency transactions, including buying, selling, and holding, with an entry point as low as $1.
• Assurance of FDIC insurance up to $250,000 on USD balances through Evolve Bank & Trust.
• Offers quick and cost-effective international money transfers.
• Exempts users from ACH fees, with a nominal $1 charge for expedited outgoing ACH transfers.
• Provides an annual bonus rate of 1.20% on deposits, applicable up to $5,000 for basic account holders and up to $50,000 for metal account users.
• Delivers exceptional customer service support.
• Enables users to receive their paychecks in cryptocurrency through direct deposit arrangements.
• Immediate issuance of a virtual card upon account setup.
• Comprehensive mobile application support for both iOS and Android platforms.

Pros:

• The metal debit card allows transactions in both fiat and cryptocurrency at global Mastercard venues, offering up to 10% cashback.
• Instantaneous transfer of funds to your Juno account following the sale of cryptocurrencies.
• Completely free of transaction fees for users.

Cons:

• Currently only provides personal account options, lacking corporate or joint account services.

8) Ally

Ally is a U.S.-based, crypto-friendly bank tailored for cryptocurrency enthusiasts, offering 24/7 banking services. It facilitates the buying and selling of cryptocurrencies through platforms like Coinbase, enabling users to leverage credit for acquiring Bitcoin and other digital currencies from various exchanges.

Features:

• No Overdraft Fees: Unlike other financial institutions that levy charges for overdrawing, Ally offers the benefit of no overdraft fees on both its checking and savings accounts.
• Absence of Monthly Maintenance Fees: Many banks implement a monthly service charge, but Ally sets itself apart by eliminating monthly maintenance fees for its checking and savings accounts.
• No Minimum Balance Penalty: While other banks might penalize for maintaining a low balance, Ally ensures that its checking account holders are not burdened with low balance fees.
• Free ACH Transfers: In contrast to some banks that impose fees for ACH transactions, Ally allows complimentary standard and expedited ACH transfers for both savings and checking account holders.

Pros:

• Seamless Integration with Coinbase: Ally stands out for its smooth compatibility with the Coinbase platform.
• Fee-Free and No Minimum Deposit Requirement: The bank distinguishes itself with the absence of monthly charges and no minimum deposit obligations.
• Attractive Interest Earnings: Ally offers a competitive annual interest rate of up to 2.75% on investments, enhancing the growth potential of your funds.

Cons:

• Limited Accessibility: One notable limitation of this crypto-supportive bank is its exclusive availability to U.S. citizens only.