Pro Crypto Banks & Those to AVOID!! 😑

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⏰ Time Stamps ⏰

1:53 Cryptos Problem With Banks
3:41 Why Do You Need A Crypto Friendly Bank?
5:19 Country Bans & Banking Restrictions
7:31 Chime Bank
9:25 Fidor bank
10:39 LHV Bank
13:00 Revolut
15:59 Banks To Avoid When Buying Crypto
16:55 Hint & Tips To Avoid Bank Freezes
18:42 The Latest Crypto Banking Updates
20:36 Final Thoughts

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🏦 Open A Crypto Friendly Account 🏦

β–Ί Revolut Account πŸ‘‰ https://www.revolut.com/our-pricing-plans
β–Ί πŸ‡ΊπŸ‡Έ Chime Bank: https://www.chime.com
β–Ί πŸ‡©πŸ‡ͺ Fidor Bank: https://www.fidor.de
β–Ί 🌍 LHV Bank: https://www.lhv.ee/en

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πŸ“ Overview πŸ“

The internet is littered with horror stories of regular people like me and you buying cryptocurrency and having their bank account shut down. So, which banks are crypto friendly and which countries completely ban buying crypto with a bank account? I go through all that and more in this video.

πŸ¦Ήβ€β™‚οΈ Banks Are The Real Criminals πŸ¦Ήβ€β™‚οΈ

Why do banks take issue with people buying crypto? Well, they often use the excuse that crypto might be used for criminal activity and money laundering. That’s a bit rich given that the likes of Danske Bank got caught laundering $234 billion. Also, it’s not as if USD and Euros aren’t used by criminals.

🏧 Why Get A Crypto Friendly Account? 🏧

Many people on the internet have reported banks randomly freezing or shutting down their accounts for merely buying Bitcoin on Coinbase. So, getting a backup crypto friendly account might be a good idea.

🌍 Country Bans & Banking Restrictions 🌍

The following countries have outright banned crypto: Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal and Pakistan.

Countries with varying levels of banking restrictions: Russia, Saudi Arabia, Jordan, Iran, Bangladesh, China, Taiwan, Cambodia, Indonesia and Vietnam.

4️⃣ Chime Bank 4️⃣

This online bank serves US customers only and you can manage all your banking through the Chime banking app. You can also get your hands on a physical Visa card, absolutely free of charge.

So how is this bank crypto friendly? Well, they have a direct integration with the crypto marketplace Paxful, which is a marketplace allowing people to buy and sell crypto.

πŸ₯‰ Fidor Bank πŸ₯‰

This digital only bank serves the German market. They actually work in partnership with the Kraken and Bitcoin.de exchanges, with integration for near instant Fidor-to-Fidor deposits and withdrawals.

The bank has also historically actively sought business from ICOs and crypto exchanges.

πŸ₯ˆ LHV Bank πŸ₯ˆ

This banking option is only really worthwhile if you are an entrepreneur or crypto highroller. If that’s you, then the good news is that you don’t have to be an Estonian citizen to bank here and can open up an account with an Estonian e-residency card.

They bank Coinbase so this means that they are happy dealing with cryptocurrency.

πŸ₯‡ Revolut πŸ₯‡

This is a digital only banking app that also allows you to link a Visa card to your account. Revolut have established a reputation for low fees, flexibility and progressiveness.

All that is showcased in their account creation progress. All you need to do is download the app, register and take a photo of yourself and your valid ID.

One cool feature of the Revolut app is that you can hold 29 different currencies and you can actually buy or sell cryptos like Bitcoin, XRP, Ethereum, Litecoin and BCH.

However, there is one downside, you cannot withdraw your crypto from the app. So, if you want to hold your coins, then you’re going to have to use Revolut to buy Bitcoin on the likes of Coinbase.

πŸ›‘ Banks To Avoid πŸ›‘

From my research, it seems that TD Bank, Bank of America, Citigroup and PNC Bank are all ones to avoid if you are wanting to buy crypto.

For those based in the UK, you should know that Lloyds, Nationwide and Virgin Money have all banned crypto credit card purchases.

πŸ“° Banking News + Tips & Tricks πŸ“°

I’m afraid you’re going to have to watch the video for those pearls of wisdom.

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πŸ“œ Disclaimer πŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#crypto #bitcoin #btc #banks #revolut #trading

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