Where to open a bank account for Crypto business

[lite]

Wirex is launching/has launched(for some users?) crypto friendly bank based in UK, you could sign up for that.
You can also open a bank account with mistertango[1].
Have a look at these threads[2][3], they have list of some crypto friendly banks. please do as much research as you can before opening a bank account.


[1] https://bitcointalk.org/index.php?topic=1972805.0
[2] https://bitcointalk.org/index.php?topic=264679.0
[3] https://bitcointalk.org/index.php?topic=189917.0

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[debuni]

If you are looking mostly to convert crypto in FIAT, I would suggest you to open a Ltd in Bulgaria (EU member state). It's known for 10% Corporate taxes and banks don't mind to GET money from crypto's. There are few local companies who can deliver you fiat into your bank account within few hours or you could USE Kraken SEPA withdraws.

[MMA]

It all depends on your country of Jurisdiction. I live not far from you in Cyprus and the tax laws are quite healthy here and our thoughts are the same to open a limited company here. Check out what the capital gains tax or corporation tax is in your country and what banks facilitate a business bank account, then once you open a business bank account and get your accounts audited, you should have no problems with the rest. Good luck in your endeavor.  

Every country has different saying and perception when it comes to cryptocurrency, and just like here in our jurisdiction they are not really in favor yet and they are not tolerating or suggesting to invest on it but they are not closing the door but with that we cannot open a saving account and we will state that our source of income is crypto.

I made 5 different trips to 4 different banks today.

2 problems, Bank of America, Wells Fargo don't allow crypto. I was nearly done at BoA and they shot me down after the word cryptocurrency was thrown around. Second problem was my business partner is out of town, and some banks (Chase, Wells Fargo) require both parties to be present.

Finally had success at the nearby Credit Union, after having to make a trip home to correct some stupid documentation.

Q: What is the nature of my business?
A: Cloud Computational Computing. I own computers and servers, and i rent out their horsepower. It is quite technical...

Banks don't like crypto...my adivce use that approach and go to a local Credit Union. Plus there are no fees! should have started here.

That is right to say that currently most of the banks are not accepting bitcoin for saving, or for any other purpose, may be still some places are there specially in such places where bitcoin is currently have legal status, there may some banks who have started accepting bitcoin but still in most of the banking such facilities are not available in current time and hope that as time pass banks will also start accepting bitcoin for saving and other purposes.

[platgroup]

Give us some support and we will help:

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[jaocoincrypto18]

Yes, so the banks here are very old fashioned and strict.
I'm looking to create a company bank account in a different country that is more positively posed towards cryptocurrencies.
For example, I've heard that Switzerland and Gibraltar are good for this. But I'd rather hear it from someone with experience, that has gone through the process already, and knows where it's recommended to open a business account.

I don't have the experience but there are lot of countries that their Central banks are supporting the crypto currencies like Japan, USA, Germany, France and many more. If you could visit these countries as legal businessman then maybe you are welcome to use their banks because I do not know what is the policy for money laundering which is the most common issue of most of the countries. You are a foreign to a certain nation then for sure it is not that easy to use their banks for the foreigners because of money laundering law.

[muratdur]

You can start from my ether wallet I think that this is most secure platform that we have right now on the market

[babysweetTiger0401]

Hi,

We are a small business, registered in Israel that does Crypto trading on exchanges.
We need to start moving some of the revenue back into FIAT in order to pay salaries etc.
From your experience, where should we create a bank account for this?

Thanks,
Michael

Well, there are few banks now that accepting or they connect into digital or crypto currency. Like here in my country one of the Asian nations, we had here that is very much opened into crypto or blockchain technology which is very favor to crypto enthusiast here including me of course. But I don't know in the other nations.

[izanagi narukami]

When bank able to accept bitcoin , it means that bitcoin are being control. Of course it breaks cryptocurrency paradigm !
So I think it will difficult to find bank that accept crypto business except the government really concern about crypto and they make some regulation about it !

[savioroshan]

Nowadays many crypto firms prefer Cayman Islands. I have seen many ICOs registered in Cayman Islands.
https://www.careyolsen.com/sites/default/files/CO_CAY_Blockchain-and-Cryptocurrency-Regulation-2019-1st-Edition_10-18.pdf
Check this link. I hope you will get some idea about Cayman Islands cryptocurrency regulation if you read this article.

[apityeh71]

I think this is depend on the regulation of crypto in each country,  in my country Indonesia Bitcoin and others crypto already get regulation to trade so all Bank supported withdrawal from crypto to fiat.

[BigBos]

I have never heard information about a bank that supports crypto business. well, I think it is still difficult to support, because basically it does not guarantee and remains risky. sometimes banks only support clear, profitable systems. but maybe some local exchangers can function like banks in this matter.

[Whosdaddy]

Malta has been one of the most forward thinking crypto countries in the world for a while not and Ukraine has no crypto tax until 2030 which is a long way later. So you can start with any bank in one of those countries no matter where you are located, they do not require you to be a citizen to open a bank, you can just go there and open a bank even if you are a foreigner.

Also, Germany has good laws on crypto as well and allows you to open banks there. So, your Israeli banks could help you out if you can find one but if you can't find one in Israel you can look for other banks in foreign countries and when you open a bank in one of those countries you will get a debit and credit card which will allow you to spend your money in that bank while you are in isreal as well.

[hridoyb]

Hi,

We are a small business, registered in Israel that does Crypto trading on exchanges.
We need to start moving some of the revenue back into FIAT in order to pay salaries etc.
From your experience, where should we create a bank account for this?

Thanks,
Michael

Crypto market not totally legal all over the world.Some country totally ban bitcoin or crypto and also they ad money laundering case so first know your country situation that legal or illegal crypto.From my experience, our country totally ban bitcoin and crypto and we are usually buy sell bitcoin in some local market so search on google and hope you find more information about it

[fuzebase]

We can help to open business or international business bank account for Crypto Company.

Start your Money Exchange  here :👉 https://fuzebase.com/

[usekevin]

When bank able to accept bitcoin , it means that bitcoin are being control. Of course it breaks cryptocurrency paradigm !
So I think it will difficult to find bank that accept crypto business except the government really concern about crypto and they make some regulation about it !

Why should you are searching for the bank which accepting the bitcoin.Now paypal accept of bitcoin,so you do two things.You can do the transaction with paypal by using your bank account.Then you can use that paypal money to inverse on bitcoin.So the need of account which accept transaction of bitcoin is not merely needed.

[Mahanton]

When bank able to accept bitcoin , it means that bitcoin are being control. Of course it breaks cryptocurrency paradigm !
So I think it will difficult to find bank that accept crypto business except the government really concern about crypto and they make some regulation about it !

Why should you are searching for the bank which accepting the bitcoin.Now paypal accept of bitcoin,so you do two things.You can do the transaction with paypal by using your bank account.Then you can use that paypal money to inverse on bitcoin.So the need of account which accept transaction of bitcoin is not merely needed.

To assume that they had asked out this question when paypal havent still accepted or adopted Bitcoin so its expected that now that Paypal is already accepting BTC then that do really solves the issue.
Always consider out on the time that they do make such query and if those times that they can able to see some option then they wont bother on asking out the public.
You can actually make one but wont be directly making up conversions which means you do simply need to convert to fiat first before making any deposits.