Best Bitcoin Banks, Rated and Reviewed for 2024

---

Where can you safely store your bitcoin?

Just as traditional banks give us secure access to our money – along with other financial services like ATM withdrawals, loans, and debit cards – crypto investors are increasingly looking at financial institutions that can do the same for bitcoin and crypto.

In this up-to-date guide, our editors have reviewed the best bitcoin- and crypto-friendly banks and financial institutions, along with our Bitcoin Market Journal rating for each, based on user reviews and reliability.

Here’s our summary of the best bitcoin banks, with individual reviews below.

---

Quontic

• Offered in:  US
• Launched in: 2009
• Current account fee: $0
• Credit rating: A+
• Customer reviews: 4.2
• Crypto friendliness: 3.5
• Our score: 4.0

Quontic is a US-based bank with a strong reputation for collaborating well with fintech companies in the crypto and blockchain space. In 2020, Quontic became the first FDIC-insured financial institution in the US to launch a bitcoin rewards debit card, which allows customers to earn 1.5% in bitcoin on eligible debit card purchases.

It also offers interest-bearing crypto accounts and various traditional banking services.

Good for: Customers looking to earn bitcoin rewards for everyday purchases.

---

Onyx by JP Morgan

• Offered in:  US
• Launched in: 2000
• Current account fee: $0
• Credit rating: A+
• Customer reviews: 1.5
• Crypto friendliness: 3.5
• Our score: 4.0

Onyx is JP Morgan’s very own blockchain platform that leverages smart contracts to facilitate transaction orders on its network. It is designed for blockchain-based accounts on the JPM Coin digital currency system.

In November 2023, JP Morgan began accepting programmable payments through Onyx. Clients can use the platform to create specific rules regarding when and how transactions are executed.

Good for: Those looking for more flexibility and security when executing transactions, making international payments, and trading securities.

---

Ally Bank

• Offered in:  US
• Launched in: 2009
• Current account fee: $0
• Credit rating: BBB-
• Customer reviews: 1.7
• Crypto friendliness: 2.5
• Our score: 3.5

Ally offers indirect exposure to crypto through stocks, trusts, and bitcoin futures. While it does not directly support the buying and selling of crypto, Ally allows customers to link their accounts to a FINRA-licensed cryptocurrency exchange to deposit and withdraw funds.

Additionally, Ally offers various digital tools to help customers  successfully manage their financial portfolios, including crypto investments. It even has a dedicated crypto section in the educational section of its website.

Good for: Those looking for a traditional bank that allows exposure to crypto markets.

---

Juno

• Offered in:  India, Singapore, the UK, and Canada
• Launched in: 2019
• Current account fee: $0
• Credit rating: Unrated
• Customer reviews: 4.0
• Crypto friendliness: 3.5
• Our score: 3.5

Juno is not a traditional bank, but a fintech company that has partnered with Evolve Bank and Trust, a technology-focused financial organization, to provide numerous banking services. This includes depositing, buying, selling, and withdrawing crypto to external wallets at no extra cost.

Users can also pay bills from their Juno account and access a fee-free network of over 80,000 ATMs. Juno currently supports 36 cryptocurrencies, including bitcoin, Ethereum, and Solana.

Good for: Customers looking to earn rewards on their cash and crypto. You can earn up to 5% for the first $25,000 deposited.

---

Wirex

• Offered in: UK & Europe
• Launched in: 2014
• Current account fee: Free
• Credit rating: Unrated
• Customer reviews: 3.4
• Crypto friendliness: 3.7
• Our score: 3.5

Wirex is a digital money provider and a crypto-friendly financial facility for trading cryptocurrencies situated in London, UK. While Wirex is not a traditional bank, it is an option for those who wish to trade modest amounts and have a way to move idle funds into a savings platform.

Wirex’s technology has allowed two million-plus users in 130 countries to conduct more than $2.5 billion in crypto and fiat currency exchanges since 2014. Wirex also offers interest-paying X-Accounts, which enable customers to earn up to 16% on their crypto and fiat deposits.

Good for: Wirex is a low-cost option for crypto investors, allowing them to purchase, swap, and send 20 fiat and cryptocurrencies with low fees, high limits, and no extra costs. Users can earn up to 16% APY via X-Accounts, with instant access to withdraw those funds when needed. Finally, the Wirex Visa Card is issued by Sutton Bank and offers up to $250,000 in FDIC insurance on prepaid card funds.

---

Monese

• Offered in: UK & Europe
• Launched in: 2013
• Current account fee: Free
• Credit rating: Unrated
• Customer reviews: 4.1
• Crypto friendliness: 4.0
• Our score: 4.0

Monese is a UK firm that provides alternatives to conventional banks by providing banking transactions and account services. The bank offers its services in the UK and 31 countries throughout the European Economic Area, and it offers accounts in Pounds sterling, Romanian leu, and Euros.

The Monese debit card functions similarly to any other debit card. Users can buy online, withdraw from ATMs worldwide, make in-store purchases, and utilize cashless transactions. In addition, users may use the platform to make top-ups, modify individual data, and check financial records.

Good for: Monese is great for those in Europe and the UK who seek a digital bank. It serves the people in the European area well as it deals with the Pound sterling, Romanian leu, and euros.

---

BankProv

• Offered in: US
• Launched in: 1828
• Current account fee: $0-$1000
• Credit rating: Unrated
• Customer reviews: 3.0
• Crypto friendliness: 3.5
• Our score: 3.5

BankProv, previously known as the Provident Bank, is the 10th oldest bank in the US. It has been around for nearly 200 years and has recently entered the crypto space. The bank primarily targets crypto companies by providing API banking solutions and crypto-backed loan services.  All USD deposits held at BankProv are 100% insured since BankProv is a member of the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).

Good for: BankProv may be a great option for blockchain companies that deal heavily in cryptocurrencies, as it is tailored to support their involvement in the space.

---

Cash App 

• Offered in: US, UK
• Launched in: 2013
• Current account fee: $0
• Credit rating: Unrated
• Customer reviews: 1.2
• Crypto friendliness: 3.5
• Our score: 3.0

Cash App is not a bank. Instead, it is a P2P payment app allowing customers to send, receive, and invest money quickly. Cash App is integrated with the Lightning Network, a Layer-2 protocol built on the bitcoin blockchain.

Cash App functions as a bitcoin wallet, allowing users to buy or sell BTC or check their BTC balances anytime. Cash App will also store the private keys for your bitcoin, allowing you instant access at any time.

Good For: Those looking for a hassle-free way to send and receive bitcoin quickly.

---

Revolut

• Offered in: UK
• Launched in: 2015
• Current account fee: Free plan | Premium- $9.99 | Metal- $16.90
• Credit rating: Unrated
• Customer reviews: 4.3
• Crypto friendliness: 3.0
• Our score: 3.0

Though Revolut is not a traditional bank, it does offer several banking services. With a Revolut account, you can get direct deposits, send and receive funds, earn interest on your savings, and even link all your bank accounts in one place for easy tracking and budgeting. You can set up joint accounts or sub-accounts, which is handy for those with partners. Revolut also offers trading in crypto, stocks, and precious metals.

Good for: Revolut is an excellent option for those looking to enter digital banking, mainly if currency exchange is an important feature. Frequent travelers can use fee-free currency exchange and local currency withdrawals of their Revolut balances.

---

BitcoinIRA

• Offered in: US
• Launched in: 2016
• Current account fee: 0.99%-4.99% of initial deposit
• Credit rating: Unrated
• Customer reviews: 4.5
• Crypto friendliness: 4.0
• Our score: 2.7

Though Revolut is not a traditional bank, it does offer several banking services. With a Revolut account, you can get direct deposits, send and receive funds, earn interest on your savings, and even link all your bank accounts in one place for easy tracking and budgeting. You can set up joint accounts or sub-accounts, which is handy for those with partners. Revolut also offers trading in crypto, stocks, and precious metals.

Good for: Revolut is an excellent option for those looking to enter digital banking, mainly if currency exchange is an important feature. Frequent travelers can use fee-free currency exchange and local currency withdrawals of their Revolut balances.

---

Our Top Picks

While plenty of banks advertise themselves as “crypto-friendly” (and you can expect many more to follow), we’ve researched the banks with a reliable track record and satisfied customers. Because they require banking licenses, these banks are not available in all jurisdictions. Our top picks are:

• For corporate US customers, BankProv and Quontic get high marks for supporting the banking needs of crypto companies.
• For UK and European customers, Monese has good customer reviews and an established track record.
• For customers in India, Singapore, and Canada, our top pick is Juno, which has good customer reviews.
• For US customers, BitcoinIRA has a strong reputation for being incredibly crypto-friendly

What Are Crypto Banks?

Crypto-friendly banks (or “bitcoin banks”) are modern, advanced financial institutions that recognize cryptocurrencies as a form of exchange or payment. They are friendly to crypto businesses and may offer custody or exchange services for bitcoin and cryptocurrencies.

Why are crypto-friendly banks so important? Many banks will shut down your account if you invest in crypto or run a blockchain business. Account closures usually come with little to no explanation for why the bank accounts were shut down (here we speak from experience).

A new generation of “crypto-friendly banks” combine regular banking services with a crypto-friendly attitude, but you should still exercise caution before opening an account. Banks must be licensed in your jurisdiction, so do your research, starting with our guide below.

Note: These may not be “banks” in the traditional sense, but financial providers offer services similar to conventional banks. In other words, don’t expect to walk into a local branch: with a few exceptions, crypto banks are online banks.

 

To learn more about investing in bitcoin and other digital currencies, subscribe to the Bitcoin Market Journal newsletter today!