GBO’s crypto experts will assist you to open a crypto business account

 

We, at GBO, have built strong connections with banks that are able to offer the services that any business needs to integrate cryptocurrencies into their business model. We can partner with you and identify the most suitable banks, and establish a crypto-friendly business account.

 

The main service is to able to have incoming and outgoing transfers in crypto – crypto as means of payments from clients and to suppliers. its just another way of payment. Contact us below for more information.

With our professional services at your disposal, you will be able to locate reputable European banks in the countries where you need them for your Crypto in/out payments.

Find out how we can help you open a Crypto Business Bank Account

WhatsApp or Telegram us: +972504938469, email us: [email protected]

    Best Crypto exchanges for trading

    Name Country Support Steps to start trading Fees *
    1 Bitstamp United Kingdom 24/7 3 0.4%
    2 Coinbase.com Unites State 24/7 live 3 0.2%
    3 Coinsmart.com Canada 24/7 live 2 0.35%

    How crypto friendly banks work

    Crypto-friendly banks are financial institutions that offer services related to cryptocurrencies, such as allowing customers to buy, sell, and hold cryptocurrencies, or to use them for making payments and transactions. These banks may also offer features such as cryptocurrency wallets, exchange services, and support for conducting transactions with merchants who accept cryptocurrencies.

    To offer these services, crypto-friendly banks typically need to have the necessary infrastructure and partnerships in place. This may include integrating with cryptocurrency exchanges and payment processors, and complying with relevant regulations and guidelines.

    In addition to offering services related to cryptocurrencies, crypto-friendly banks may also provide traditional banking services such as checking and savings accounts, loans, and credit cards. Some crypto-friendly banks may be focused specifically on serving the needs of the cryptocurrency community, while others may offer cryptocurrency services as an additional feature to their traditional banking offerings.

    It’s worth noting that the availability of crypto-friendly banking services can vary depending on the country or region where the bank is located. Some countries may have more favorable regulations and attitudes towards cryptocurrencies, which may make it easier for banks to offer these types of services.

     

    Best bank to cash out crypto

    There are several options for cashing out cryptocurrency, and the best one for you will depend on your specific needs and circumstances. Here are a few options to consider:

    1. Cryptocurrency exchanges: Many cryptocurrency exchanges, such as Coinbase and Kraken, allow you to sell your cryptocurrency and withdraw the proceeds to your bank account.
    2. Peer-to-peer marketplaces: Peer-to-peer marketplaces, such as LocalBitcoins and Paxful, allow you to sell your cryptocurrency directly to buyers. You can then receive the payment in your bank account or through a payment service such as PayPal.
    3. Bitcoin ATMs: Some Bitcoin ATMs allow you to sell your cryptocurrency and withdraw cash from the machine. However, fees for using Bitcoin ATMs can be relatively high, so it’s important to compare the fees at different ATMs before making a decision.
    4. Traditional banks: Some traditional banks, such as Bank of America and Wells Fargo, allow you to sell your cryptocurrency and deposit the proceeds into your bank account. However, it’s important to note that not all traditional banks offer this service, so you will need to check with your specific bank to see if they support it.

    It’s important to carefully evaluate the fees, security, and reputation of any service you are considering using to cash out your cryptocurrency.

     

    What is a crypto friendly business bank account?

    The best crypto-friendly business account in a financial institution allows you to trade, swap and exchange cryptocurrencies themselves, and also to swap between crypto and fiat currencies seamlessly. This will allow dealings in cryptocurrencies in exactly the same way as you have dealt with ordinary hard currencies until now.

     

    After the introduction of Bitcoin in 2008, there was a phenomenal growth in private trading in the new cryptocurrencies. As the advantages of digital currencies began to filter through into the business world, it became more and more important for companies to be able to treat cryptocurrency transactions in the same way as they have been handling hard currency transactions, with full banking facilities that can accept, swap, transfer, exchange and store the new digital tokens in the same way as they have been handling dollars, euros, pounds and yen.

    Most of the traditional banks in Europe have been reluctant to open their accounts to crypto transactions for business customers, mostly because they are more restricted by the KYC/AML requirements (Know Your Customer/Anti-Money Laundering) that are universal inside the EU. That is why newer and more flexible Fintech (financial technology) institutions and Electronic Money Institutions (EMIs) have established an advantage and are attracting businesses to either switch over fully, or at least to channel their new digital business transactions through them.

     

    Finding the right EMI or Fintech bank that matches your own needs can take some time. That’s why using our services can save you effort and money, and reduce the risk of making the wrong choice. Talk to the experts here at GBO to quickly set your business on the right road to digital banking.

    Which are the best crypto friendly banks in europe?

    Choosing the right bank offering crypto friendly bank accounts suitable for your business involves many different features. The list below contains the most highly regarded crypto-friendly institutions and is a good place to start your selection.
    At the start of 2022, there were already 16 institutions in the EU that are satisfying the description of crypto-friendly banks for businesses, spread across seven countries. There were more before Brexit took the UK out of the union, and we list these separately.

    Best Crypto friendly business banks in Europe

    What to look for when selecting the best Crypto friendly bank accounts for business:

    Security must be a top priority when entrusting your company’s money to any bank. This is even more important for cryptocurrencies, since the degree of control and oversight is lower and the ability to track and reverse transactions does not match the conventional hard currency paths that are more entrenched in corporate banking. We always advise choosing a bank that has a solid history in the cryptocurrency world, without any major hacking incidents.

     

    Ease of use comes high on the list of required features. Full digital access on desktop and mobile devices, with user-friendly interfaces will make it easier to monitor and track crypto transactions.

     

    Right now, Bitcoin is the most popular and widely traded cryptocurrency, but it should not be the only one your bank can handle. When you decide to open an account with any crypto-friendly bank, look at the range of cryptocurrencies they support along with which fiat currencies are accepted. To be able to handle business from across the modern business world, you need to have maximum flexibility in handling both.

     

    Although you should take care to be charged fair and reasonable fees for the services, it’s not always a good idea to choose your crypto bank on this basis alone. We advise our customers to pay equal attention to all aspects of the bank’s services.

     

    Which is the best bank to cash out crypto?

    Choosing the best bank to use when you are looking to cash out your holdings of cryptocurrency assets depends on many specific details that relate to your own circumstances. When you are dealing with older and more established banks, you will probably be faced with difficulties or even flat refusal to handle any form of cryptocurrency transactions.

    At the other extreme, there are several services that will allow and encourage you to purchase cryptocurrencies, but you may then find that you cannot easily sell the assets and convert the proceeds into fiat currency that can be transferred back into your normal bank account.

    The best path in choosing the platform for cryptocurrency trading is to deal with an established financial institution that operates in a well-regulated environment such as the EU. There are now many established Electronic Money Institutions and Fintech service providers that work with both cryptocurrency and fiat currency, and that can provide the mechanism for movements of your funds between them.

     

    Learn how to cash out crypto to a business bank account.

    There are several different scenarios that depend on where the cryptocurrency is stored.

    For example, cryptos stored either on a crypto-to-crypto exchange or in a private wallet will first have to be transferred into an account on a licensed bank or EMI where you have set up a business account. From there, the cryptocurrency can be sold for cash and the funds are automatically credited into the account.

    If the assets are held in an eWallet, like the Coinbase or Ledger wallet, you can sell the crypto assets directly from the wallet. The proceeds of the sale can then be transferred directly into your linked business bank account.

    These exchanges charge transaction fees if there is a need to convert the currency from the sale into your bank’s own currency, you may not be getting the best exchange rate.

     

    Peer-to-peer (P2P) crypto exchanges provide a way for two crypto owners to swap assets at an agreed price. You can swap cryptocurrency for cash with another buyer in a bidding transaction. The transaction can take place in any nominated currency, and the proceeds are credited to an existing eWallet. From there, they can be transferred to your business account.

     

    In other cases, crypto coins or tokens that are already held in a business account on a crypto friendly bank institution can be sold directly on your behalf and the proceeds are credited directly into the account. For more information on these crypto-friendly business banks, see our table above.

    FAQ

     

    What banks allow crypto business accounts?

    The list of the best crypto-friendly banks is growing rapidly. Although most of the traditional banks are still stuck behind the wall, several are already allowing their business clients to transact with cryptocurrencies, and to exchange between fiat and digital currencies.

     

    Can you open a business account for crypto?

    Not all banks currently permit deposits, withdrawals or transactions in digital currencies. For your business to be able to handle these, you should either move over fully to a crypto-friendly bank, such as the ones we have identified in the table above, or else split your banking across the barrier by opening a secondary account at a crypto-friendly Fintech or EMI.

     

    Can an LLC open a crypto account?

    In general, to open a crypto corporate bank account, the same rules apply as for all banking. As long as the bank has the facilities to transact on your behalf, there should be no barrier to a Limited Liability Company (LLC) moving all or some of its banking over into a crypto business bank account. However, it may be necessary to check the corporation’s Articles of Association to see whether there are any restrictions that could prevent trading in other currencies such as crypto.

     

    Best Crypto business bank account

    Deciding which crypto-friendly banks for business offers you the best facilities can be difficult. You are well advised to engage with expert services from us. GBO has over a decade of experience in helping businesses negotiate with European banks and we can give you the right advice to help you make the proper decision in the shortest possible time.

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