The integration of digital currencies into traditional banking services has been a hot topic of discussion for years now. Most banks, even those ranked top in terms of innovation and technological advancements have dismissed digital currencies as mere industry disruptors. While most banks see altcoins and bitcoins as a threat to their progress, some US banks have added some services that support the use of bitcoins. Let’s have a look at the best bitcoin banks you can count on to successfully make bitcoin transactions.
- The USAA Bank
USAA is a Texas-based bank that ranks top among the best USA banks that receive the highest number of deposits per year. At the beginning of the year, they announced to enter into a partnership with Coinbase. For those who don’t know, Coinbase is the top-rated bitcoin exchange website that allows for quick bitcoin cashouts. It provides a simple platform where you can initiate the bitcoin selling process and have them sell the bitcoins on your behalf. Their partnership with USAA makes it possible for you to receive your money into your USAA bank account after the bitcoins are sold. It allows you to check your bitcoin balance via the bank’s mobile app.
- Bank Of America
This is another US bank that has added bitcoin exchanges to their banking services. Being the second biggest US-based bank, Bank of America has joined others to streamline the process of making bitcoin payments. The bank allows you to deposit and cash out bitcoins more than $20,000. Unfortunately, it currently doesn’t allow bitcoin transactions. However, it allows you to buy bitcoins using your bank-issued credit cards. Those making bitcoin deposits are also allowed to make bank transfers and debit cards.
- Simple Bank
The simple bank ranks top in terms of the most bitcoin banks in America. This is because it has cooperated with the majority of Bitcoin exchange platforms and allows you to directly buy and sell bitcoins. It’s quite different from other banks in that it is not based offline. Those who have accounts with this bank are often provided with Visa debit cards that they can use to make transactions. They also have access to internet-based banking systems and a mobile app that can be accessed via iOS and Android mobile devices.
- Goldman Sachs
Although Goldman Sachs is yet to fully adopt Bitcoin transactions, plans are underway and it is likely to offer the most bitcoin friendliest services ever. The plans underway are to initiate the world’s biggest trading operation along the Wall Street Bank. It previously announced its plans to initiate an altcoin trading desk by the end of 2018. Stay cool and wait. Soon, you may be able to transact directly from a physical desk from one of Goldman bank’s branches.
Of late, it has become easier than ever before to make bitcoin transactions. With so many US bank initiating bitcoin trading operations, soon, we may even be able to deposit bitcoins directly into our bank accounts. The banks outlined above are not the only bitcoin banks in America. Based on your needs, you have to choose your preferred bank that offers the kind of services you are searching for.