5 Best Crypto-Friendly Banks for Safe Investments

Overview — Juno (ex OnJune) isn’t one of your typical banks for crypto, but it works just as well. That’s mainly because Juno isn’t a bank but a fintech company that offers numerous banking services through its partnership with Evolve Bank & Trust. 

Features — What makes Juno stand out from the competition is that you can buy and sell crypto with no fees, receive your paycheck in crypto, and get a high cashback (10%) on crypto spending. 

You can also earn a 3% (on BTC and ETH) and a 6% (on USDC) yearly bonus on crypto for depositing or buying cryptocurrencies, which makes Juno stand in line with top-notch crypto-friendly banks in the USA. 

On a negative note, Juno currently supports only eight cryptocurrencies (BTC, ETH, USDC, Polygon USDC, AVAX, Chainlink, AAVE, and UNI).

Plans — You can choose between two types of checking accounts — Basic Checking and Metal Checking. 

The former offers a 1.20% bonus on balances up to $5,000 and a 5% cashback on spending up to $500. With the latter, you get 5% cashback on spending up to $3,000 and a 1.20% bonus on balances up to $50,000. 

However, to be eligible for the Metal checking account, you must set up a monthly deposit of over $500.

You’ll get a physical debit card with both plans. There’s no minimum balance, and you don’t have to pay monthly or overdraft fees. However, you’ll have to pay the incoming wire fees ($1.50) and the wire return fees ($5.00). 

Unlike some other cryptocurrency banks, such as BankProv, that’s designed exclusively for businesses, Juno’s checking account allows only personal use. Additionally, Juno doesn’t offer savings accounts.

Overview — Next in our crypto-friendly banks‘ reviews is Chase. This is a bank that offers numerous personal and business banking services, as well as credit and home loans, checking and savings accounts, investing services, and auto financing.

Chase was the first bank in the US to create its own crypto (JPM Coin) for instant payments. But Chase doesn’t offer crypto trading. 

Still, users can link their bank accounts to Coinbase, Gemini, and other major exchange platforms to buy and sell crypto. This option makes Chase one of the best banks for cryptocurrency exchange integration.

Features —  Chase recently partnered with a crypto company, NYDIG, in order to launch a special Bitcoin fund designed for its wealth management clients. 

They can access six crypto funds:

• Bitcoin Cash Trust
• Grayscale Bitcoin Trust
• Ethereum Trust
• Ethereum Classic Trust
• Osprey Bitcoin Trust
• NYDIG (this fund is only available to private banking clients)

As mentioned above, Chase is one of the most popular Coinbase–friendly banks. To buy/sell crypto or transfer your money, you simply need to link your Chase bank account with Coinbase. 

Finally, Chase’s most remarkable feature lies in its broad range of accounts that come with a zero opening deposit.

Plans — You can choose between various business and personal checking accounts, such as the Chase Bank college checking account and two savings accounts.

Chase also offers seven different cashback Visa credit cards that can earn you anywhere between 1% and 5% cashback (depending on the card).

Overview — Next on our crypto banks list, we have a London-based company, Wirex, which is available in more than 100 countries. 

In 2022, Wirex became available to US citizens (except those in New York and Hawaii), enabling them to trade, hold, and buy crypto coins using the Wirex Visa card. 

Wirex offers a high number of currencies. It supports nine fiat currencies, 44 cryptocurrencies, and eight stablecoins. 

You can also use your non-custodial mobile wallet for NFTs, DeFi, and accessing decentralized apps.

Features — Wirex’s most noteworthy features are its crypto Visa and Mastercard cards. 

The cards allow you to trade crypto, move your funds from one account to another, and earn up to 8% cryptoback with every purchase. Rewards come in the form of a Wirex X-Points token, which you can convert to crypto. 

While you won’t have to pay any annual fees to maintain the cards, crypto top-ups have a 1.49% fee.

The company also offers its own Wirex Wallet. 

Another key feature that makes Wirex one of the best banks for crypto trading is the lightning speed of money transfers and exchanges and their sheer simplicity. They occur almost instantly, and you don’t have to pay withdrawal or deposit fees when sending crypto to or from your account.

Plans — You can choose between three plans: 

• Standard ($0)
• Premium (€9.99 (about $10.14) a month)
• Elite (€29.99 (about $30.45) a month) 

All three plans include a free cryptocurrency wallet, free Wirex card, unlimited live exchange rates, unlimited access to OTC crypto exchange rates, unlimited cryptocurrency external transfers, and free ATM withdrawals of up to €400 (about $406.16) per month.

An important difference between free and paid accounts is that the Standard cryptocurrency bank account and the Elite cryptocurrency account get you higher cashback. For example, cryptoback for in-store and online shopping with the Standard plan amounts to 0.5% and reaches 1% and 2% with Premium and Elite plans, respectively.

Premium plan and Elite plan also give you higher annual savings bonuses on your WXT balance — 4% and 12%, respectively.

Overview — If you ever looked for crypto–friendly banks in the United States, you probably stumbled upon BankProv, a bank tailored specifically for businesses involved in digital currency services. 

From exchange services to other crypto-related investments, BankProv has everything you need to support your business’s involvement in the digital currency space. 

And because BankProv understands that the world of crypto can be volatile, it offers flexible account options that let you transact in both USD and cryptocurrency. 

Features — BankProv is a good crypto-friendly bank that provides a comprehensive range of cash management services and crypto-backed lending alternatives. Businesses may obtain crypto-based loans to finance their operations. However, rather than collateralizing the loan with real estate or stock, they can use Bitcoin.

The bank’s lending options include:  

• Commercial lending
• Small business lending
• Search fund lending
• Sponsor finance
• International lending
• Warehouse lending
• Alternative energy lending
• Specialty lending

In addition, the bank’s business services include:

• Business banking
• Cash management
• Payroll processing

To use these services, you must open a crypto bank account on BankProv. The process is pretty simple. You just need to provide your personal and business information, social security number, and driver’s license or passport.

Plans — There are five different plans you can use: 

• Classic Business
• Small Business
• Commercial
• ProvX
• ProvX+

The monthly fees range from $0 to $1,000, depending on the plan.

While you can open your account for free, you’ll still need to pay incoming and outgoing wire fees ($10 for incoming wires, $25 for outgoing domestic transfers, and $35 for outgoing international transfers).

Overview — Ally bank is a crypto-friendly company tailored specifically for US clients. 

Though Ally doesn’t offer crypto trading, you can use it for investing in crypto funds (e.g., GBTC or OBTV) and crypto futures (BITO), as well as companies that work with crypto (e.g., PayPal or Coinbase). 

You get to connect your Ally debit or credit card account to Coinbase and use it to buy crypto and tokens. 

Besides that, Ally Bank is also great for trading mutual funds, ETFs, CDs, agency and municipal bonds, and options.

Features — Unlike many other crypto–friendly banks in the US, Ally offers competitive fees and commissions when it comes to trading options (you’ll have to pay only $0.50 per contract). 

Ally also offers a relatively high 0.50% interest rate on cash, and you can transfer up to $250,000 to your bank account daily. 

Ally allows you to trade 52 currency pairs but, unfortunately, doesn’t offer trading futures.

Plans — Ally offers three types of accounts: 

• Savings accounts ($0)
• Checking accounts ($0)
• Money market accounts ($0)

All three accounts are FDIC-insured, they allow you to earn interest, and they have ATM access. However, Ally’s savings account doesn’t come with a debit card.