The Best Bank Account for Crypto Exchange

Once you’re ready to proceed with sourcing the best bank account for crypto exchange, GBO is here to assist. In Slovakia, full banking compliance is required for locals and foreigners alike. Current and corporate bank accounts are available. The best bank account crypto exchange depends upon your specific company’s requirements.

We are ready to discuss various bank account options with you. In Slovakia, current accounts are ideally suited to natural persons, even non-resident accounts. Corporate accounts are also available. We will walk you through the banking account procedures to ensure the best fit.

In Estonia, there are many crypto-friendly banks that will be happy to partner with your crypto exchange company. Estonian regulators have paved the way for smooth processing of cryptocurrency licensing. As a professional consultancy, we have an established history with reputable European banks across the board.

Crypto-friendly Estonian banks may be limited in number, but we can certainly point you in the right direction to get set up with the best bank account for crypto exchange and business operations

GBO Corporate Services consultants are waiting to hear from you. Contact us to schedule an appointment for your crypto company.

Best Bank Account for Crypto Trading

The best bank account for crypto trading is a combination of personal preferences, functionality, features, and processing capabilities. There are many crypto-friendly banks with full service operations available to crypto exchanges and crypto companies. GBO Corporate Services is adept at matching crypto trading companies and banks to ensure the best possible fit.

We deal with banking-related matters on a daily basis, with our own crypto-related business operations across Europe. We can point you in the right direction to ensure reliable transactions processing, low costs, and credibility. Many high-end banks already allow crypto-related transactions to be processed, including Barclays, Simple Bank, Allied Bank, Wirex, Change Bank, Goldman Sachs, and many local banking institutions in countries like Estonia, and Slovakia.

Some of the banks your crypto company will deal with are virtual banks, while others offer land-based operations too. The best bank account for crypto trading is one which gives you the most bang for your buck. Licensing is sacrosanct; we don’t work with banks that are not fully licensed to offer banking services to crypto trading companies.

For more information on bank accounts for crypto trading, contact a GBO customer service representative. We are standing by to take your calls.

Crypto Friendly Banks Europe for Cryptocurrency company

Europe is revered as a hub for crypto licensing and regulation, and the attendant blockchain-based technology infrastructures. GBO Corporate Services has been operational in Europe for many years. We know the industry, and the key players. The best crypto-friendly banks in Europe are receptive to introducing cryptocurrency into day-to-day operations.

Once AML and KYC measures have been accounted for, your crypto company can partner with forward-oriented European banks. Major digital banks certainly exist, but there are notable alternatives such as Wirex.

Generally, the following crypto-friendly banks in Europe will provide the services needed for crypto exchange companies:

• Mercuryo in Estonia
• Orounda in the UK
• Swissquote in Switzerland
• SEBA in Switzerland
• Solarisbank in Germany
• Sparkasse in Germany
• Agribank in Malta
• Bank Frick in Liechtenstein
• Mister Tango in Lithuania

This is certainly not an exhaustive list, since there are many local banks that we work with.

Cryptocurrency bank account

A cryptocurrency bank account refers to the use of an account with a banking or financial service provider to manage digital currencies. Since 2008, there has been wild growth of interest in cryptocurrency banking. It has become extremely popular because anyone wanting to buy, sell and trade cryptocurrencies can now do so with just an internet connection.

GBO has been on the cutting edge of the cryptocurrency revolution. We are advising hundreds of corporate customers through every step of the way to add cryptocurrency handling into their financial structure.

Some of the key concepts that must be understood are:

• Cryptocurrency – they are money tokens circulated using cryptographic techniques without the involvement of a monetary authority or central bank. People can buy, sell or trade them securely. A cryptocurrency (or “crypto”) is traded outside of the conventional financial infrastructure.
• Cryptocurrency exchange – also known in some jurisdictions as digital currency exchange (DCE), allows customers to trade cryptocurrencies or digital currencies for other assets, such as fiat currency or other cryptocurrencies. Users can bid for, offer, purchase, and sell their cryptocurrencies using cryptocurrency wallets
• Crypto bank account – many digital banks and EMIs allow customers to control their cryptocurrency assets precisely as they do fiat currencies.
• Crypto wallet – is a digital account that enables the purchase, storage and spending of cryptocurrency assets.

GBO Corporate Services is leading the way as the premier facilitator of cryptocurrency services for companies looking for guidance in processing cryptocurrency transactions through the fiduciary banking system.

Crypto bank account for crypto business

Crypto bank accounts may be necessary for multiple purposes, including:

• Investment in cryptocurrency

Cryptocurrency investment has become a significant component of digital finance. Since the first full cryptocurrency launch in 2008, many billions of dollars have been invested for both short-term and long-term holdings. As further growth in the scope and function of digital currencies is likely, there is a strong demand for digital banking services offering the same facilities as merchant banks now do for conventional business

• Trading cryptocurrency on exchanges

Billions of transactions are conducted each day in cryptocurrencies. A cryptocurrency exchange (also called a digital currency exchange) is a digital platform that allows customers to trade between conventional fiat money and cryptocurrencies and swap between different digital currencies. A cryptocurrency exchange can take a commission fee on each transaction or make the market with a spread between buy and sell prices, taking the difference as its fee.

Exchanges can transfer cryptocurrency to and from a customer’s personal cryptocurrency wallet. The denomination of funds kept in accounts may be fiat or digital currency.

• B2B transactions

Some companies are now allowing for the movement of funds between themselves and suppliers, corporate customers and service providers to be in cryptocurrencies. They need to set up a bank account for crypto business either within their existing finance infrastructure or on a crypto-friendly bank.

• B2C transactions

Companies transacting business on the Internet can now allow for payment for goods and services in digital currencies directly from their customers’ crypto wallets.

Crypto wallet for business

When companies start to transact B2B and B2C business, they will have to set up one or more crypto wallets for business integrated with their bank account so that crypto business is integrated with their financial systems and payment processing platforms. If their regular corporate banks do not offer such a service. In that case, it will be necessary to open separate crypto wallets for business in a crypto-friendly bank that provides integrated facilities for cryptocurrency and allows them to integrate their online banking portal.

What are the different types of Crypto Wallets?

Software wallets (also called online, mobile, desktop, and hot wallets) allow customers to manage their digital assets online. These wallets use cryptographic keys stored on a device with secure access to the Internet. Software wallets provide more flexibility but may be more vulnerable to hacking than cold wallets.

Cold wallets (also known as hardware wallets) are stored on a physical device that does not access the Internet. They are more secure, but less convenient.

Hosted wallets are stored on a secure third-party web server. They represent a digital record of crypto assets and can be linked to the user’s account. They are, like hot wallets, more convenient for use but generally more vulnerable to hacking. An alternative to a hosted wallet is the decentralized wallet that doesn’t require a third-party service to transact or store the cryptocurrency. This reduces the security risks associated with hosted wallets.

Crypto-friendly Business Account

A crypto-friendly business account in a financial institution allows you to trade, swap and exchange cryptocurrencies. This allows you to deal with cryptocurrency transactions in the same way as you deal with ordinary hard currencies.

GBO has strong connections with crypto-friendly business banks that will be happy to partner with your company and establish a crypto-friendly business account. We can pave the way for the smooth introduction of cryptocurrency banking for you. As a professional consultancy, we have established a solid relationship with reputable European banks in the countries at the forefront of digital currency banking.