Cryptocurrency-friendly Banks and Online Banking Options

The last article has received over 100 likes. Now, let’s start the 9th part of the 100% anti-freeze and safe withdrawal method in the cryptocurrency circle: Cryptocurrency-friendly banks

Crypto-friendly means wire transfer of US dollars from cryptocurrency exchanges (such as Kraken, which was taught in the previous tutorial) to banks. The banks have a clear policy to support and not reject and do not control risks.

Currently, Kraken wire transfers to Hong Kong Zhongan, which I have always used and is very safe. As long as it is not a fast in and out, Standard Chartered and HSBC rarely have risk control. The rare risk control reason is not the problem of the exchange, but your problem. The actual test shows that the funds are credited within 24 hours.

In addition, the following two online banks (you can apply for it at home with the full set of mainland KYC) are also crypto-friendly:

1. iFast (ifastgb.com iFAST Global, a licensed bank in the UK. When opening an account, they ask if you are doing currency business in the inquiry form. It seems that they are attracting new users in the currency circle. There is no annual fee, which is suitable for small accounts)

2. Xapo (xapobank.com Gibraltar licensed bank. Its institutional business was previously acquired by Coinbase. This one is more convenient, equivalent to a currency exchange + bank, and even Kraken can be saved. The disadvantage is that the annual fee is US$150, and you need to deposit US$4,000 to waive the annual fee, which is not suitable for small accounts)

Neither of these two requires VPN application. If you need it, start early. These channels may close the gates after being exposed, and when there are too many people and pressure from the outside world. In fact, there are several niche ones. I will give you the day when the above two are closed.

In addition to banks, Schwab.com, the largest online brokerage in the United States, is also a good choice. Kraken can be transferred directly to Schwab, and mainland KYC can be applied for. Schwab used to be able to apply for a debit card to withdraw cash from domestic ATMs without loss, $1,000 per day, but it was forced to stop last year. It's a pity.

Some friends also like to use WISE for transfer, and I will talk about this when I have the chance.

Okay, this post has 100 likes, and the 10th update: Can u cards be used? What are the risks?

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