The post Check out these 12 best Bitcoin & Crypto friendly banks 2020 appeared first on Go Cryptowise.
Some of us have first hand experienced who banks have shown their policies and views of this new age of digital currencies, Bitcoin and cryptocurrencies.
With stories about banks denying business for crypto companies, or refusing new customers due to past crypto activities or just blocking purchases of cryptocurrencies online.
Are they scared? Are they trying to protect themselves? Are they trying to protect their customers? There is a lot to be asked and explore further. But what we can also do is to focus on the good examples.
And promote the crypto and Bitcoin friendly banks that are willing to go against the tide.
I know the saying goes in the crypto space that you are your own bank when it comes to dealing with cryptocurrencies. And that might be the case completely in a few years. But we can see that there a new digital banks that are pushing hard to let crypto and Bitcoin in.
We have many German and Europeans Bitcoin and cryptocurrency friendly banks on this list. And two U.S crypto friendly banks in Simple and USAA.
The 12 Bitcoin and crypto friendly banks of 2020
1 ) Revolut
Now this is not a traditional bank per se, but they do offer banking services and they are challenging the traditional school of banks around the world.
This fintech company (Revolut) was launched back in 2015, it has its headquarters in London, England. And they like others, Klarna, Monzo are doing their best to shake some life in this very traditional space. And how can you best do that?
Well for once offer really good products, such as help customers save on hefty fees, such as when spending or withdrawing money abroad, get a very useful app with full control of all your spendings, budgeting and payments, and onboarding new customers in only minutes.
Things that are all common sense and widely common in any industry beyond banking.
But obviously Revolut has also shown that they are supporting cryptocurrencies. Where its customers can buy, exchange and track their crypto portfolio in one easy to use app.
2 ) SEBA Bank
This is a Swiss bank that was granted a banking license in August 2019 and launched their services officially in November 2019 (press release).
This Zug-based bank will let customers (both enterprises and retail investors) invest, manage and trade cryptocurrencies. And it makes sense that Swiss banks yet again show their affinity for leading the bank race.
And SEBA are showing themselves to be a crypto friendly bank that is not afraid of these new digital currencies.
3 ) Wirex
Spend your cryptocurrencies with Wirex VISA card
Now Wirex is not your traditional bank really. But they offer much of the services that you use your bank for. That is your daily shopping, monthly budgeting or investing (in cryptocurrencies).
And you can do all of this from one single mobile app.
The app is available for iOS and Android (sign up here to get started and download it).
So you still probably need a bank account to get your salary to, but after that, you can use Wirex if you prefer.
There are benefits to Wirex that most banks lack. It is very nice and easy to use the app. With perfect control of your spendings, your finance will get easier to manage.
But the biggest thing for why Wirex is so great is that you can spend your cryptocurrencies using Wirex at any shop that accepts VISA cards!
That means you can use your Bitcoin or Ether to buy coffee, clothes, cinema tickets and so on!
So on a list of the most crypto friendly banks, I think Wirex most definitely deserves to fill one of the spots. It’s not a traditional bank, but it has the features that you want from a modern one!
4 ) Bitwala
Here comes another German bank showing the rest of the world why Germany will take a leading position in this digital and blockchain transformation.
Bitwala offers customers a full German bank account, as in getting your salary coming in here and transacting as with any other traditional bank.
5 ) Fidor
This German bank aims to make it crystal clear that they are not afraid of cryptocurrencies. In fact, “Fidor speaks crypto and understands your business”.
This German bank has launched a Crypto-currency-as-a-Service offering to its customers (learn more here).
Where you can start trading, investing in cryptocurrencies, and also engage in ICOs.
Fidor is a German online bank that started in 2009 and you can get a feel that they are born digital, and modern in their approach.
Including offering cryptocurrency services, but also with fully integrated IoT integration, smart mobile applications for both private and business customers.
6 ) LHV
Another country together with Germany that has shown to be leading the pack of crypto friendly countries, namely Estonia. And in Estonia, there is a bank that stands as a frontrunner, which is LHV.
LHV is, for example, serving Coinbase with banking services in the nearby region of baltic and Scandinavian countries (learn more about their relationship).
Additionally LHV has been one of the first banks that has its own in-house crypto teams, actively working on their current and future crypto offerings.
It is also one of the backers behind Cuber app, a digital payment app with full fiat and cryptocurrency support.
What not many people know is that LHV went so far, and early for crypto that they launched their own stable coin back in 2014 (learn more about it). Which was a digital form for the Euro that was used in their Cuber app (Medium article about it).
7 ) N26
This is a German-based new digital bank, but it has a European banking license so open for all EU citizens. N26 is part of this new wave of digital banks that are focusing on delivering great user experience.
They know that customers aren’t loyal unless you can give them value for their money.
And for most that mean a great UX and experience when interacting with your bank, its app and anything else banking related.
Now N26 is not at this time have built-in support for buying and selling cryptocurrencies or have a cryptocurrency wallet, but there have been talks about the addition of just that in the near future.
And so far they have not at any point shown that they are blocking cryptocurrency purchases or in other ways stopping customers to deal with Bitcoin and other cryptocurrencies.
- Learn more about that on Reddit
8 ) SYGNUM
This is another Swiss bank with affiliations in Singapore that has realised that the future is not in blocking cryptocurrencies but in promoting it and making it easier for customers to buy, sell and manage their cryptocurrencies.
Exactly how their support for cryptocurrencies will be shaped is not 100% clear yet.
But we can read on their website that Sygnum will offer tokenisation solutions. So that securities can be tokenised and digitised.
This could be used for raising capital, but of course for managing these assets more easily in new digital ways.
9 ) ING
Now this is an older Dutch and multinational bank with offices around the world that by many reports are not shying away from crypto.
According to Reuters ING is deveöoping a way for their customers to safely store digital assets.
This service has not yet launched, but it shows that they are actively working on ways to help their crypto interested customers. And for ING to stay relevant.
ING “Sees increasing opportunities with regard to digital assets on both asset backed and native security tokens”
The bank said in a written statement to Reuters
10 ) Bankera
Where you can use Bitcoin as collateral when you take out loans in fiat currencies.
Part of the Bankera network of financial products we can also find SpectroCoin. Which is a cryptocurrency exchange, tailored for instant-purchases, and they have also launched a crypto pre-paid VISA card.
And then they have another exchange which is slightly more traditional-looking for normal retailor crypto to crypto trading (Bankera exchange).
And at the heart of all this lies BNK – the Bankera token.
11 ) USAA
This American bank is one of the few that looks to be more positively aligned towards these new digital currencies (cryptocurrencies).
That makes it possible for USAA bank account holders to view their wallet balances at USAA also (learn more how it works here).
It might not look pretty, and they lack some of the now common features that are available on online banks seen on this list.
But with the other benefits that come with it, USAA is a traditional old school bank, and it is available for U.S customers. And it seems like one of the few U.S crypto friendly banks that we can find.
12 ) Ziglu
Upcoming bank from Starling co-founder Ziglu is the “cool home for your money”. And that money is not only traditional Fiat currencies, but also cryptocurrencies.
This is a new bank that has yet to been launched. It will by the launch of the report sometimes in 2020. And it is headed by Mark Hipperson a co-founder of Starling Bank, that left them in 2016 to move on to this new company, Ziglu.
In Ziglu you will be able to buy, sell and hold all types of currencies in one place. With easy to use features and UX this soon to be launched bank is expecting to make its launch sometimes in Q1 2020.
The not so crypto friendly banks
I wanted to highlight some of the known examples where banks have shown their true colours and opinions of what they think about Bitcoin and cryptocurrencies.
1 ) Nordea forbids its employees to buy cryptocurrencies
That meant that no one working for Nordea could spend their own private money on Bitcoin, or cryptocurrencies. This obviously grabbed the headlines as it was seen as a move that went beyond the bank’s supposedly control over its employees.
The CEO of Nordea bank Casper von Koskull expressed his views on Bitcoin and cryptocurrencies to Bloomberg news and talked about ‘Bitcoin’s links to criminal activities’.
This ban on cryptocurrencies was later on appealed but the nordic bank actually, later on, won that appeal in a Danish court.
2 ) Wells Fargo bans cryptocurrency
This major US bank not only stopped credit card cryptocurrency payments but actually debit card payments. It is a big thing that a major bank in the US like Wells Fargo bans cryptocurrency investments.
That meant that the US bank stopped customers from buying legal cryptocurrencies with money they had (in most cases) earned in salaries.
This move became clear last year when many Wells Fargo customers noticed that their cryptocurrency purchases were not going through.
And after reaching out to Wells Fargo on Twitter a representative from the bank confirmed that Wells Fargo is not allowing transactions involving cryptocurrency (Yahoo article about it).
It is very clear that with this move that they are not favours of the rise of cryptocurrencies, and the potential threat it could have on the way they make money today.
I hope you enjoyed this article about the top Bitcoin and crypto friendly banks across the world.
There are many in Europe that I could find. A few in the US and Asia.
If you have names of other banks that are showing their support for Bitcoin and cryptocurrencies then please let us know!
If you have any questions then leave a comment below and we will get back to you.
Otherwise please share this article and help the crypto adoption!
Other popular guides:
- Guide to buying BTC without an ID
- The top crypto exchanges
- How to buy crypto with a bank card
- A guide to cryptocurrency markets
- Guide to buying Cardano
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor of Bitcoin and other cryptocurrencies. I’ve been around the space for a good few years, learning how it all works and to be a part of this engaging community.
Now it’s time for me to share my experience with others. I am also a business and product developer so I know first-hand what it takes to create a successful product, brand and customer experience.
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The post Check out these 12 best Bitcoin & Crypto friendly banks 2020 appeared first on Go Cryptowise.
TikTok Avoids US Shutdown as Oracle, Walmart Swoop In
TikTok will live to see another day in the United States. President Trump has approved a deal between TikTok owner ByteDance, Oracle and Walmart, which averts the ban that was to take effect on Sept. 20. The ban, which would have prevented all downloads of the app in U.S. app stores, has now been postponed […]
The post TikTok Avoids US Shutdown as Oracle, Walmart Swoop In appeared first on BeInCrypto.
TikTok will live to see another day in the United States.
President Trump has approved a deal between TikTok owner ByteDance, Oracle and Walmart, which averts the ban that was to take effect on Sept. 20. The ban, which would have prevented all downloads of the app in U.S. app stores, has now been postponed by one week.
In a statement, the Commerce Department indicated that the restrictions are now slated to come into effect at 11.59 p.m. on Sept. 27. According to a CNN report, the deal maintains ByteDance as TikTok’s majority shareholder, with Oracle and Walmart cumulatively controlling 20 percent of the company.
Ownership and Data Access Issues
According to a Bloomberg report, ByteDance is seeking a $60 billion TikTok Global valuation, with the app’s U.S. operations alone valued at over $50 billion. This would mean that Walmart would pay $4.5 billion for its proposed 7.5 percent stake and Oracle would pay $7.5 billion for its prospective 12.5 percent stake.
The report further reveals that the deal’s final valuation and payment structures have not been agreed on yet because negotiations regarding equity structure and data security are still ongoing. Both Beijing and Washington are yet to fully agree on what parties get access to what part of TikTok’s valuable proprietary technology, such as recommendation algorithms.
According to Bloomberg, Chinese authorities are said to be in favor of the current deal because ByteDance maintains an overwhelming majority stake. This apparently was what gave Oracle the advantage over Microsoft, which offered to buy out TikTok Global in its entirety.
The deal would see Walmart CEO Doug McMillon take a seat on the five-member board of TikTok Global, which controls the app’s activities in the U.S. and around the world, excluding China. According to Bloomberg, VC firms Sequoia Capital and General Atlantic could also build equity positions in the company as part of the deal.
In a statement from TikTok quoted by CNN, the company said:
“We will also maintain and expand TikTok Global’s headquarters in the US, while bringing 25,000 jobs across the country.”
TikTok To Migrate From AWS to Oracle Cloud
The deal will also see TikTok move from Amazon Web Services (AWS), its current hosting provider, to Oracle Cloud. In a statement quoted by CNN, Oracle CEO Safra Catz said:
“As a part of this agreement, TikTok will run on the Oracle Cloud and Oracle will become a minority investor in TikTok Global. Oracle will quickly deploy, rapidly scale, and operate TikTok systems in the Oracle Cloud. We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world. This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders.”
According to CNN sources, Oracle will get full access to TikTok’s source code and app updates in order to ensure that there are no back doors for the Chinese state to harvest data or spy on the app’s 100 million+ American users.
Is Bitcoin really on Ethereum ? Will either proponents softfork BTC to ETH?
Bitcoin and Ethereum have long been the two most-popular cryptocurrencies in the market. While Bitcoin has remained top of the charts, for most of the time, Ethereum has been the cryptocurrency following it. This, despite the fact that a number of altcoins have taken a jab at ETH’s position over the years. Spoiler – None have survived for long.
Due to ETH’s persistence, the community is also massive. Hence, it is obvious that communities would compare each others’ coins, network effects, etc. It is no surprise then that the debate/fight between BTC and ETH is also a longstanding one.
In today’s debate, the topic of contention is simple, mundane, yet unclear – whether Bitcoin is on Ethereum or not. Although the debate in question had seemingly diverted away from the topic at press time, the same was reignited by Peter McCormack’s latest tweet.
There is no Bitcoin on Ethereum.
— Peter McCormack (@PeterMcCormack) September 19, 2020
Now, McCormack has long claimed to have a mind open enough to understand and learn about other altcoins, despite being a Bitcoin proponent himself. While many have attacked him for his tweet, it does make sense because, obviously, Bitcoin is not on Ethereum. Neither of them exists on each other’s, but on their own, separate blockchains.
Before we get into the debate, it should be known that Bitcoin, as an ERC token, ergo on the ETH blockchain, has been on the rise lately. For argument’s sake, the total number of Bitcoin on Ethereum, as of press time, was worth $1 billion aka 106k BTC.
Although the total BTC locked on ETH has exceeded 100k, there are different tokens like WBTC, rBTC, hBTC, tBTC, etc. and each token varies in build and construction. The common argument that can be made here is that none of the Bitcoins are really on ETH because, in fact, they are just IoUs.
Bitcoin developer Luke DashJr, however, was one of the many to disagree, after he tweeted,
“I don’t agree. Bitcoins can be on Ethereum in the same way they’re on exchanges, Liquid. etc”
Ethereum folks were quick to pitch in to, with many happy about Bitcoin finally finding its way to the Ethereum blockchain.
Fuck microstrategy, Ethereum is the world’s largest purchaser of BTC https://t.co/SYyRTpIhsl
— DavidHoffman.eth 🏴 (@TrustlessState) September 15, 2020
Interestingly, while a majority of the Bitcoin and Ethereum communities were arguing about what is right and what is the right terminology, Vitalik Buterin, Founder of Ethereum, came forward to discuss a far-fetched idea. An idea where miners could, in the near future, soft fork Bitcoin and “reject withdrawals from Bitcoin-side addresses that do not have valid corresponding initiation orders on the Ethereum side.”
Needless to say, this was the latest cannon fire in the ongoing battle between Bitcoin and Ethereum.
Ripple price falls to $0.244, what’s next?
Ripple price follows the market trend to falling to $0.244 low. Analyst expects a drop to $0.21 mark before another rise. Mixed market sentiment and bearish market are main contributing factors. The Ripple price line fell bearish after testing the Exponential Moving Average (EMA) on the 20th of September. The price slipped below the $0.244 […]
- Ripple price follows the market trend to falling to $0.244 low.
- Analyst expects a drop to $0.21 mark before another rise.
- Mixed market sentiment and bearish market are main contributing factors.
The Ripple price line fell bearish after testing the Exponential Moving Average (EMA) on the 20th of September. The price slipped below the $0.244 mark by the evening. The market is expected to rise, and Ripple price with it.
1-Day Ripple price analysis
The price approached the day’s high of $0.254 US Dollars by noon on the 19th of September. The cryptocurrency traded at $0.24596 US Dollars on Bitstamp, at the time of writing. Whereas, the day’s low was observed at the $0.243 mark.
XRPUSD technical indicators
The Trading View analyst Ronin is of the opinion that the cryptocurrency is currently undergoing a wave trading pattern. Per the crypto analyst, the price will now fall towards the $0.21 level to complete the 5th wave of this trade.
Currently, the cryptocurrency appears to be testing the EMA marked in orange. The technical indicator may cause the cryptocurrency to be pushed back and fall towards the $0.21 support level. Per the chart above, the cryptocurrency’s trade volume has been decreased ever since the start of September.
The Relative Strength Index (RSI) stands near 45.00, which means that the technical indicator is in a neutral zone. The Moving Average Convergence Divergence (MACD) line appears to be moving above the signal line, while the Histogram is decreasing in the positive region.
What’s next for Ripple?
The Trading View analyst Saeed believes that the XRP price will see an uptrend towards the $0.28 resistance, which will then be followed by a price fall towards the $0.21 mark.
Per the analysis, the cryptocurrency trades inside a falling wedge pattern. The XRP price fell below an ascending trend line marked in the chart above. The recent accumulation above the $0.24 level may allow the cryptocurrency to rise towards the ascending trendline. For this ascension, the XRPUSD pair will have to break above the falling wedge pattern and test the rising trend line. The analyst believes that the resistance will be strong enough to cause the cryptocurrency to fall down towards the $0.21 support level.
What to expect from the XRP price?
The Trading View analyst Vince Prince has stated that the XRPUSD trading pair is under an overall bearish bias while it trades inside of an ascending channel.
The cryptocurrency recently made its way towards the back-up-cluster near the lower ascending trendline of the trading channel. Per the analyst, the XRPUSD pair has bounced from this cluster, which means that the cryptocurrency will now make its way across the midpoint of the ascending channel and towards the upper ascending trendline. If the cryptocurrency, at any point, breaks below the ascending channel, the price will fall in the bearish zone. This is why the cluster region is important for XRP to hold.
If Ripple closed above the 400-Day EMA (green), the price will have more room to move towards the upside and test the upper trendline. However, the ascending channel may eventually result in a bear flag for Ripple, which means that the cryptocurrency is still in a bearish bias. For now, the XRPUSD pair is expected to test the higher levels if it holds the $0.248 support.
Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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