There are no fees for opening or maintaining a standard account. This means that you can perform everyday financial services with a Monzo account. You will be given a local UK bank account number and sort code, alongside a debit card issued by MasterCard. Monzo, like Revolut, is a mobile-only bank account that is available via an Android and iOS app. If you’re UK-based, you will like the fact that Monzo is authorized and regulated by the FCA, and most importantly, your GBP balances are covered by the FSCS up to the first £85,000. First and foremost, Monzo is a challenger bank that is only available to those residing in the UK. Next up on our list of the best crypto bank accounts for 2023 is Monzo. Monzo – One of the Best Crypto-Friendly Banks in the UK (FSCS Protection) Crypto investments are held by a third partyĢ.Furthermore, you will also need to pay a commission of 2.5% per slide, or 1.5% if you are a Revolut premium plan account holder. This will vary throughout the day depending on market volatility and trading volume. The main drawback with Revolut is that it charges hefty fees when buying and selling crypto.įor example, you will first need to cover the spread – which is essentially the mark-up that Revolut adds to the current exchange rate. Moreover, the minimum trade size buying crypto via the Revolut app is just $1. This covers over 30 leading crypto assets – including but not limited to Bitcoin, Ethereum, XRP, and Dogecoin. Second, and perhaps most pertinently, Revolut also allows you to buy crypto from within the app itself. And – providing that the crypto exchange in question is regulated, you can withdraw your cash proceeds back to your Revolut account. In terms of its relationship with crypto, this comes in two forms.įirst and foremost, you can use your Revolut account to buy cryptocurrency with ease. As a Revolut customer, you will also be offered a debit card that links to your account – and this can be used online, in-store, or at an ATM. Revolut is also great for cross-currency payments – as it offers industry-leading exchange rates. You will also be able to send and receive funds just like you would with a traditional bank account. By opening an account with Revolut, you will be able to add funds in your local currency. The bank also accepts customers from Europe, the UK, Australia, Singapore, Japan, and Switzerland. In terms of eligibility, Revolut is one of the few US-approved banks for crypto services. This digital-only bank operates via a mobile app that is fully optimized for both iOS and Android smartphones. Founded in 2015, Revolut is now one of the most popular challenger banks globally – with the provider now home to over 18 million personal accounts. We found that Revolut is the overall best crypto bank in the market right now. Revolut – Overall Best Crypto Bank (US-Friendly) We cover a variety of core metrics when discussing our list of top crypto bank providers – such as eligibility, supported currencies and crypto assets, whether interest accounts are offered, fees, and safety. In this section of our guide, we’ll compare the five best crypto bank accounts for 2023 through comprehensive reviews. Finally, Aqru is approved to offer crypto and fiat savings accounts by regulators in Lithuania.Ĭryptoassets are a highly volatile unregulated investment product. Fiat currency withdrawals can be made fee-free. The only fee that does come into play is when you make a crypto withdrawal – which stands at a flat charge of $20. When it comes to fees, there are no deductions from the aforementioned APYs that you get from an Aqru crypto interest account. Aqru utilizes multi-sig technology via Fireblocks, alongside a multi-layered insurance policy to protect your account against hacking. And, when electing to make a withdrawal, you can also cash out in fiat money should you wish. Therefore, you have the freedom of funding your account with US dollars, pounds, or euros and then converting the money to a crypto interest plan. Another stand-out feature of choosing Aqru is that you can also deposit fiat money via a bank transfer or debit/credit card. We also like the fact that your interest is paid daily at Aqru and you can view your balance in real-time by simply logging into your account. Not only does Aqru offer industry-leading APYs on its crypto savings accounts, but there are no lock-up terms to meet.Īnd as such, this means that you have the freedom to withdraw your digital currencies at any given time – 24/7. Stablecoins at Aqru pay an even higher rate of interest at 12% annually. Yields are very competitive, with Bitcoin and Ethereum attracting an APY of 7%. In a nutshell, Aqru offers an online platform and mobile app that allows you to earn interest on crypto deposits, making it one of the best crypto staking platforms out there.
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