The Best Bitcoin Banks of 2020

[Bitcasino.io Support]

Hey everybody

As Bitcoin has become a household name, more and more financial institutions have begun accepting Bitcoin and other cryptocurrencies to cater to crypto enthusiasts.
While Bitcoin was hard to access before, you can now manage them like normal fiat currencies in different Bitcoin-friendly banks.

Which Bitcoin-friendly banks should you know?

SEBA
WIREX
Bitwala
Fidor
LHV

Learn more & find out advantages of using Bitcoin banks: Top Bitcoin-friendly banks.

What is the best bank for your crypto?

Cheers,
Karl
Bitcasino.io

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[Tytanowy Janusz]

That's what i'm the most scared about. Banks accepting and storing bitcoin for you... All for the convenience of the end user. Great.

Banks were also storing gold and giving us piece of paper for our convenience (convertible back to gold anytime) Try to get your gold back now Impossible after 1970.

Second step after reaching enough customers? Those banks will implement their old school tricks - fractional reserve system and Bitcoin supply will grow to 200 mln (offchain supply in banks system) - https://bitcointalk.org/index.php?topic=5094088.msg49096584#msg49096584

The only good way of storing bitcoin is your own wallet. Otherwise, you are risking loosing money or harming bitcoin by allowing others to inflate it.

[AGD]

The best Bitcoin bank is .....

My own wallet 

[davis196]

I've never heard anything about the so called "Bitcoin-friendly banks" in your list.
The whole purpose of Bitcoin was to never use a bank again in your life.Now everyone is just talking about whether or not the banks will accept Bitcoin.Maybe that's why Satoshi left the BTC community-too many centralized third party solutions and services on top of the Bitcoin Core blockchain.

[shamimal93]

Honestly, I'm not completely familiar with the word bitcoin friendly bank.  I don't know if something like this is happening.  However, the purpose of creating Bitcoin was to transact it without a third party.  Now if bitcoin is transacted through banks then the main purpose of making bitcoin will be in vain.  So one of the best ways to save Bitcoin is through your own wallet.

[Distinctin]

I'm waiting for that moment in our country but as of now, I saw banks have less interest in crypto which makes the crypto users in our country have no choice but only to convert into fiat money. Maybe it needs another decades or two to wait before it encourages bank owners to accept Bitcoin deposits aside from fiat and some assets.

However, I don't think also that it is necessary for us to look at banks that allow us to store our crypto, hence we can still keep it in online and offline wallets, and much more accessible than keeping it in the bank.

[MiningBattalion]

Hey everybody

As Bitcoin has become a household name, more and more financial institutions have begun accepting Bitcoin and other cryptocurrencies to cater to crypto enthusiasts.
While Bitcoin was hard to access before, you can now manage them like normal fiat currencies in different Bitcoin-friendly banks.

Which Bitcoin-friendly banks should you know?

SEBA
WIREX
Bitwala
Fidor
LHV

Learn more & find out advantages of using Bitcoin banks: Top Bitcoin-friendly banks.

What is the best bank for your crypto?

Cheers,
Karl
Bitcasino.io

If the banks in my country had accepted the bitcoin for the transaction,it will be the happiest news for me.Because I can use my holding bitcoin for the money.Now I need to convert my bitcoin to my fiat and then only it will be tradeable.Once the bank accepted the bitcoin and other major cryptocurrency,it will eliminate my transaction fees.

[gentlemand]

I've heard enough horror stories about all of those joints to not wish to commit fully to any of them. It's inconceivable for anywhere to have 100% happy customers of course but my main experience is with Wirex and I wouldn't class them as a totally competent organisation.

I dabble with them but I would never run important parts of my life through them.

[royalfestus]

Though the anonymity of bitcoin is not an attractive feature any more, it could also be a disadvantage for security. In most cases all what we need to a wallet is the private keys, especially for those who demand sole custody of their asset. Giving banks your private keys looks even more dangerous to me. Any hack whatsoever makes you asset gone, which could not be traced or recover. It share most disadvantages of hard wallet, so one custody is still safer if you know how to keep it.

[Lucius]

I've never heard anything about the so called "Bitcoin-friendly banks" in your list.
The whole purpose of Bitcoin was to never use a bank again in your life.Now everyone is just talking about whether or not the banks will accept Bitcoin.Maybe that's why Satoshi left the BTC community-too many centralized third party solutions and services on top of the Bitcoin Core blockchain.

Well at least Wirex and Bitwala are pretty famous (at least to me personally) because they’ve been mentioned a lot on the forum over the past few years. Bitwala had a service that offered prepaid cards, but like many others was forced to suspend the service at a time when Visa and Mastercard decided to stop working with crypto related services. What I do know is that Bitwala today is a very serious service based in Germany, and provides services for anyone who wants to buy, trade with crypto or have a Mastercard card linked to their crypto account.

In September 2018, Bitwala raised 4 million Euro from venture capital investors Earlybird and Coparion, enabling them to proceed with their re-launch November 2018. In December 2018 Bitwala launched Europe's first regulated blockchain banking solution that enables users to manage both their Bitcoin and Euro deposits in one place with the safety and convenience of a German bank account. The bank account is hosted by the Berlin-based solarisBank.

I think it’s very illusory to expect that Bitcoin can change the way people look at finances in just 10+ years, it’s just too little time. Speculation as to why Satoshi disappeared is different, but I’m sure there was nothing in this sense in 2010 that would make him disappear, because that was the very beginning. In my opinion, perhaps the best reason for his disappearance (if it was voluntary) is that he wanted to avoid Bitcoin being in any way connected to just one man - he started the whole thing, but in order for BTC to be fully decentralized he left everything to others.

[avikz]

Which Bitcoin-friendly banks should you know?

SEBA
WIREX
Bitwala
Fidor
LHV

Does it mean people can keep cryptocurrencies in their own bank account if the accout belongs to any of these banks?? If yes, then it's a great news! I know many people would oppose to this thought. But I believe such things wil only help in increasing bitcoin adoption among the mass!

A common people is always afraid of doing something illegal. However, if they see banks are accepting cryptocurrencies, that would definitely make them interested about it! That's what matter at the end of the day!

[kryptqnick]

I think it's good that some banks are joining the market and trying to offer services to crypto users. I understand how such a bank would be very useful for, say, a business that accepts Bitcoin because many banks would not be willing to deal with businesses that have anything to do with cryptos. I think this can also be a good solution for people who want to try using Bitcoin, but prefer it when money is in the bank (it looks more trustworthy to them this way), so they might join the market thanks to such banks. And if there were a reputable crypto banks accepting customers from my country, I'd probably give it a try. However, banks undermine the whole point of Bitcoin because with Bitcoin one doesn't need such an intermediary to perform transactions.

[romero121]

Often used to see on some articles that bitcoin is accepted by specific bank, further we never get any information regarding the same. This way till date several banks have started to accept and store bitcoin. Same time more banks have restricted and stopped services for bitcoin associated businesses. As of now we can't make any conclusion on the list of banks working with bitcoin and the best from that list.

[The Cryptovator]

I don't know why, but I can't access your article from my browser. Even tried from the Tor browser but still, access denied. I was quite curious to read your article about Bitcoin bank.

What is the best bank for your crypto?

Sound like centralization, isn't that? Bank means a third-party organization, which wasn't the goal of bitcoin creation. Bitcoin slogan is "be your own bank". So the best bank for me, my own hardware wallet.

[so98nn]

That's what i'm the most scared about. Banks accepting and storing bitcoin for you... All for the convenience of the end user. Great.

Banks were also storing gold and giving us piece of paper for our convenience (convertible back to gold anytime) Try to get your gold back now Impossible after 1970.
[…]
The only good way of storing bitcoin is your own wallet. Otherwise, you are risking loosing money or harming bitcoin by allowing others to inflate it.

Somehow it’s true. Change is always good and here we see lot of upgrades in the bitcoin usage. The fact that these changes are being made to ease the use of it somehow indigestible due to the way they are portraying it. What I mean is, they are compromising the very nature of anonymity. If we had to the bitcoin into banks then man what’s wrong with the real money???

We can always have best of both worlds if real banking stays real, and well bitcoin stats bitcoin. Isn’t it ?

[CarnagexD]

Banking your cryptocurrencies defeats the very essence of having cryptocurrency in the first place, decentralized network puts into centralized network does not sound too well to me honestly. I don't wanna blame people for having bank or their currency though, they choose it because they see something else more than what  we see. However I don't suggest  letting your cryptocurrencies just sleep in another's arm!

[ChrisPop]

From the five listed in the OP I only know Wirex and Bitwala. I have heard that Wirex is in full expanding after they secured a partnership with Mastercard if I am not mistaken and now they are in the process of raising funds to further accelerate their growth.

I'd have to make some further research to come with an educated answer, though.

[suzanne5223]

That's what i'm the most scared about. Banks accepting and storing bitcoin for you... All for the convenience of the end user. Great.

Banks were also storing gold and giving us piece of paper for our convenience (convertible back to gold anytime) Try to get your gold back now Impossible after 1970.

Second step after reaching enough customers? Those banks will implement their old school tricks - fractional reserve system and Bitcoin supply will grow to 200 mln (offchain supply in banks system) - https://bitcointalk.org/index.php?topic=5094088.msg49096584#msg49096584

The only good way of storing bitcoin is your own wallet. Otherwise, you are risking loosing money or harming bitcoin by allowing others to inflate it.

First, if we want Bitcoin to be mainstream will need the institutions to come in and I think we need to be happy that the institutions now have some interest in Bitcoin which is a sign that the future is totally bright for cryptocurrency. Despite, their interest in Bitcoin we should always be prepared for issues that may arise cause the institutions can't do without their centralization ethnic and with cryptocurrency exchange like Kraken having the license to operate as banks things shouldn't be that bad.

[LFC_Bitcoin]

Worldwide, mass adoption is coming so banks have no choice but to allow & accept bitcoin use through their systems. It’s either join them or get left behind. Companies like Coinbase have been a helpful bridge from crypto to mainstream banking. Many crypto companies used to have trouble getting mainstream banks to accept their business but that isn’t the case any more.

[Yey09]

In crypto you can be your own bank. For what you need another one? You can combine your wallet and traditional bank without mixing it