Crypto-friendly digital banks

Best mobile banks for crypto trading

The recent (yet another) "boom" of cryptocurrency trading expanded the audience for blockchain technology beyond the usual "early adopters" and "innovators" towards a more mainstream audience. The impact of this new group of investors on the crypto market is hard to overestimate. Naturally, it was only a matter of time (and a ton of regulatory restrictions) before retail banks embraced the idea of allowing their customers to invest funds into certain coins or even crypto-funds similar to what ETFs are to stocks. Of course, the pioneers in this field were not the traditional "brick and mortar" banks, but rather their smaller, younger and digital-native counterparts. What's the best bank in Europe to choose if you want to get in on the Bitcoin, Etherium or even Dogecoin craze? Let's find out.

Warning! Investment is never without risk. You may lose your investment due to market risks involved.

Cryptos are the talk of the decade in the financial world for sure

How does banking with cryptos work?

There are multiple "levels" of crypto-friendliness all the banks can be divided into. We assume that a borderline level is your traditional bank: gets suspicious when you transfer money in and out of exchanges and other crypto-related platforms. You might get transactions blocked, you might require to submit documents pertaining to your exchange and, in some cases, tax authorities might also be involved. That's the baseline and every step above that can be safely considered an upgrade. We can then lump the key factors as follows:

  • Built-in integration: obviously, the best way to go is to have an ability to trade cryptos straight from your bank app. It's a pretty rare option, and even if you're a lucky user of one of these neobanks that provides it, you can still find yourself disappointed as the coin selection in these products is usually pretty mediocre.
  • An ability to cash in and out of exchanges without any hassle: for example, Wise recently stated that "you can send money to your balances with bank details from a platform that deals with Bitcoin or another cryptocurrency — as long as the platform is regulated and/or supervised in the EU or UK". Revolut, on the other hand, only recently reversed their position on transactions with exchanges and now claims to accept up to €50k per day in withdrawals from exchanges.
  • Powerful OpenAPI: better API means easier integrations, which, in turn means that not only can you automate your trading using your bank's and the platform of choice's APIs, but it also means you can expect "out-of-the-box" integrations to work better as well. Of course, PSD2 helps quite a lot with third party integrations.

Our selection: The most crypto-friendly mobile banks

bunq

An up-and-coming Dutch neobank that focuses on ethical investment options, giving their users an option to choose how their money get invested. bunq also planted over 2 million trees as part of their green initiative. Powerful Open API and colorful cards - what's not to like?

HQ: Amsterdam, NL
Founded in: 2,015
Users: 5'400'000+
Deposit protection: Up to €100'000
Website: bunq.com
Personal plans: ✔️
Starting at €2.99 per month
 
Business plans: ✔️
Starting at €4.99 per month
Currencies: EUR, USD, GBP, BGN, PLN + 10
Shared accounts: ✔️
Student accounts:
Support: Chat, email
Sign-up bonus: 30 days free trial
HQ: Amsterdam, NL
Founded in: 2,015
Users: 5'400'000+
Deposit protection: Up to €100'000
Support: Chat, email
Sign-up bonus: 30 days free trial
Website: bunq.com
Personal plans: ✔️
Starting at €2.99 per month
Business plans: ✔️
Starting at €4.99 per month
Shared accounts: ✔️
Student accounts:
Currencies: EUR, USD, GBP, BGN, PLN + 10

Who says business banking can't be flashy? NL's latest fintech unicorn, Amsterdam-based bunq is not only pushing for ethical investment practices by allowing users to choose how their funds get invested, but also planting over 2 million trees as part of their "Become CO2-neutral in 2 years!" initiative. This innovative challenger bank provides tech-savvy entrepreneurs with a powerful open API that lets you automate most of the routine day-to-day operations while features like invoice scanning, batch payments and auto-VAT can save you an astonishing amount of time. With sleek iOS and Android apps, and a (pretty basic) desktop app, bunq has everything you'll ever need for comfortable and hassle-free banking.

  • Plus sign  Automatic payment categorization & Spending insights
  • Plus sign  Open API and powerful integrations out-of-the-box
  • Plus sign  Personalized payment links for easy payment collection
  • Plus sign  Spend in foreign currency at a low cost
  • Plus sign  Three physical & 25 virtual cards included
  • Minus sign  Desktop app is very basic and lacks features
  • Minus sign  Products launch so quick, sometimes they lack polish
  • Minus sign  No cheque deposit options nor overdraft available

Vivid

  • Cashback rewards
  • Metal crypto card
  • Multiple sub-accounts
  • Shared accounts
  • Automatic savings

Vivid is an up-and-coming financial "one-stop-shop" app: payments and transfers, an interest on your current account, 3000+ ETFs & stocks from companies all over the world along with 50+ cryptocurrencies on top of and an ability to store funds in over 40 currencies.

  • HQ: Berlin, Germany
  • Users: > 145'000
  • Founded in: 2,019
  • Stocks & ETFs: ✔️
  • Cryptocurrencies: ✔️
  • Metals: ✔️
  • Card available: ✔️

The Vivid app blends its investment feature seamlessly with everyday banking. You can create a Pocket for investments in Stock or Crypto along side of other Pockets which are essentially bank accounts with unique IBANs. Buying shares or ETFs is at the moment fee-free with Vivid even for its standard free plan, aside from a 0.5% mark-up on currency exchanges. Vivid also has a Stock Rewards feature where you can get Cashback from card payments in the form of fractional stock of your choice - which is in our opinion a pretty smart feature and can really grow your assets without much effort. All in all, Vivid is a pretty new Germany-based player but also already offers a good product for any consumers interested to dip in some stocks or crypto. With its practically fee-free offering - which could change as its customer base grows - it is a pretty good time to give the app a go!


Trading cryptocurrencies is not usually looked at favorably by the banks


Wirex

  • Cashback up to 2%
  • Fee-free FX
  • Wirex Token
  • Regulated & Protected
  • Up to 16% on deposits

Wirex is a simple-to-use platform offering cryptocurrency trading, cashback on purchases in crypto and no fees on fiat currency exchange on top. Wirex also offers very impressive annual return on various assets in a "hassle-free" fashion.

  • HQ: London, UK
  • Users: > 3'100'000
  • Founded in: 2,014
  • Stocks & ETFs:
  • Cryptocurrencies: ✔️
  • Metals:
  • Card available: ✔️

Wirex is a worldwide digital payment platform and regulated institution. Wirex’s mission is to bridge the gap between conventional and cryptocurrencies and bring the "cashless" future closer!

  • Plus sign  Zero exchange rate: up to 3% savings compared to the competition
  • Plus sign  "Cryptoback" up to 2% in WXT on card payments in-store or online
  • Plus sign  Free ATM withdrawals up to SG$400 per month and no spending limits
  • Plus sign  No monthly fees!
  • Minus sign  Wirex is not yet a full banking license holder
  • Minus sign  Hardly a downside, but Wirex is registered in Singapore, not Europe

Is it easy to trade cryptos with digital banks?

Trading cryptos has honestly never been easier. Even if there are a few hoops to jump through, these can usually be resolved within hours. If you're already a customer of one of the digital banks, make sure to casually ask the customer support representative what the policies surrounding cryptocurrency trading and transferring funds to and from digital exchanges are. Chances are, that question can save you a headache of having funds "blocked" by your bank's payment investigation department for days or even weeks just because an automated system decided your transaction looks suspicious.

Investing in cryptos is very risky, but can bring a significant return

The other important thing to consider is your local authorities' stance on cryptos. You can find out if you need to declare funds on exchanges or in wallets, by searching this information online. Knowing the regulatory framework will definitely come in handy, and you absolutely need to be aware of it if you plan on dealing with cryptocurrencies!

Warning! Investment is never without risk. You may lose your investment due to market risks involved.

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