In recent years, there has been a significant increase in the popularity of cryptocurrencies. As more and more individuals worldwide embrace digital assets founded on blockchain technology, the crypto ecosystem continues to expand.
Alongside this expanding user base comes a growing need for integrating this technology into our everyday lives. This is where cryptocurrency banks play a vital role in meeting this demand.
If you also want to use cryptocurrencies with traditional fiat currency seamlessly, search for banks or platforms that simplify this process. You have come to the right place. Here, we will explore some of the top cryptocurrency bank portfolios for virtual banking.
Plasbit is a Poland-based cryptocurrency bank that started its operations in 2020 and, since then, has gained the trust of more than 100k people. It offers many services, including crypto debit cards, wire transfers, and secure crypto wallets.
They offer prepaid crypto cards that come in physical and virtual forms and are easily manageable due to their 24/7 connectivity with your wallet.
Wire transfers allow you to send money online in more than 130 countries, and the best part is that your Plasbit account is SIPC protected. This means you get guaranteed security of funds up to $250k in a brokerage account.
The platform supports most cryptos, including Bitcoin, Ethereum, and XRP. Other than that PlasBit also offers features like crypto history, mining, and tax calculators in its widgets. In a nutshell, Plasbit is an all-rounder when it comes to convenience, security, and accessibility.
Revolut is a financial institution based in the UK and has recently expanded into cryptocurrencies. It has a user-friendly mobile app which makes crypto banking super convenient. Moreover, the support for over 30 tokens and 100 currencies allows users to trade crypto directly from their accounts.
Revolut’s no-fee policy for trading up to $200k per month also sets it apart as one of the top choices in the best Cryptocurrency bank portfolio list. However, its customer service is comparatively not above par.
Ally Bank is a well-established banking platform that has recognized the potential of crypto. Having an account in this bank means you can easily link it to other exchanges, including Coinbase and Gemini.
This integration destroys all the barriers between traditional banking and crypto and provides a more optimized experience. Moreover, you can pair other platforms that support crypto, like PayPal.
So, it is one of the best cryptocurrency bank portfolio options to store your digital assets. However, the platform still doesn’t support crypto transactions, and you can only trade in USD.
When discussing a standout portfolio in cryptocurrency banking, it is impossible to ignore Binance. As the largest crypto exchange platform globally, Binance effortlessly handles enormous transactions worth billions of dollars daily.
Users of this platform enjoy a wide range of services, including lending options, staking opportunities, and seamless trading experiences alongside reliable storage facilities.
It is important to mention their recent partnership with Visa, which allows for the issuance of cryptocurrency debit cards that can be used by their users all over the world. While many revere the services offered by this prestigious platform, its reputation has been put at risk due to ongoing legal disputes that SEC instigates. The future path for this influential entity remains uncertain.
Suppose you are interested in cryptocurrencies and wish to incorporate them into your daily life. Then opting for cryptocurrency banks is an ideal choice. These platforms offer numerous advantages beyond straightforward digital wallets crucial for crypto enthusiasts.
Usually, it proves to be valuable for many people’s crypto portfolios. However, the correct answer depends on your preference. Typically, virtual banking will be helpful for you.
It lets you access your account anytime, anywhere, as long as you are connected to the internet. It means you can always stay on your toes and hunt like an apex predator when you spot an opportunity in the market.
When choosing the best cryptocurrency bank portfolio, complete your due diligence and check everything you can. It comes down to multiple factors, and the right selection is vital since these platforms will hold your valuable digital assets. So, we’ve gathered a few factors that might help you decide.
Check if the bank supports the crypto tokens you hold or plan to invest in. The greater the number of supported cryptocurrencies, the more investment options you have.
Have a look at the features offered by the bank. Check if they provide secure storage, crypto cards, staking, or access to DeFi (Decentralized Finance) protocols. Some platforms even provide you with essential tools that may not sound interesting but drastically improve the overall experience.
Security should be at the top of your list when choosing the best cryptocurrency bank portfolio. Research the bank’s security technology, such as encryption, cold storage, and multi-factor authentication. Additionally, check if the bank has been the victim of a security breach in the past; this will let you know whether their security claims stand true or are as hollow as a drum.
A thorough look at their customer service will tell you a lot. A helpful customer support team will always put you first as they represent the platform. They will talk to you respectfully and try their best to resolve your issues quickly.
But responsive support isn’t enough unless it is helpful too. The representatives should solve your issues and clear up confusion. It will help you to get the answer or solution quicker.
Reviews either make or break the deal whenever a prospect is about to make a decision. Be sure to get reviews from friends and family using the platform you wish to choose or check for reviews and videos online. It will separate the best cryptocurrency bank portfolio from merely good ones and clarify your decision making.
Diversifying your portfolio means dividing your capital into small chunks and investing your money into multiple projects rather than just one. It’s like the “don’t put all your eggs in one basket” analogy. So, keep multiple crypto coins in your digital wallet. Below are a few reasons why diversification is essential:
Financial markets, especially crypto, are known for extreme volatility. One day you are on the moon; the next, you are in trenches, no pun intended. By diversifying your portfolio, you can reduce the effect of a single cryptocurrency’s dump on your account. If one crypto dumps due to bad fundamental news, other tokens in your portfolio may pump and offset your loss.
To fully comprehend the diverse nature of blockchain technologies in the cryptocurrency realm. One must recognize that each digital currency operates on its blockchain platform to serve a particular purpose.
Embracing diversification within one’s investment portfolio provides exposure across different crypto projects and facilitates active involvement in their respective journeys toward achievement.
Consequently, if multiple cryptocurrencies align harmoniously with one’s perspective, adopting a diversified approach becomes a means of concurrently supporting them all.
The crypto market tends to change quickly. Trends come and go. If you are not quick, you end up missing out on the opportunity. However, if you follow the law of portfolio diversification and divide your capital into different currencies, you have a higher chance of making the most out of market trends.
For instance, we recently saw a boom in all the AI-based cryptocurrency projects like FET, AGIX, OCEAN, etc., because of the hype around AI being the future.
Traders that had diversified their portfolios and had some money invested in these projects were the ones who experienced gains that outperformed the overall market by a huge margin and went home with their bags filled.
All the cryptocurrency bank portfolio options mentioned above have their pros and cons. In the end, everything is up to you and your personal preferences. Some people may want low fees, while others require extra layers of security.
However, approaching this ranking from a general perspective, We recommend Plasbit because it offers better services topped with valuable widgets that help you make a well-informed financial decision. On the other hand, many like opting for Revolut or Ally Bank due to their well-established reputation. Eventually, many go with Binance since it is a dominating figure in the crypto world.
Since the final decision is yours, remember the factors we mentioned. And yeah, Happy Crypto Banking!