With the value of cryptocurrencies (like bitcoin) skyrocketing of late, more and more people are realizing how important it is to get on board the crypto bus ASAP.
At the same time, not everyone fully understands how cryptocurrencies work and how you are supposed to buy, sell, or hold them – and most aren’t sure of what cryptocurrency banks are or why they are so important.
Let’s dig a little deeper and explore exactly what crypto– and a crypto bank– really is!
What is a Crypto Bank and How Do They Work?
For starters, it’s easiest to think of a cryptocurrency bank as a financial institution similar to traditional banks – but built exclusively in the digital landscape, almost always on the back of blockchain (the underlying technology that made bitcoin possible in the first place).
In addition to providing individuals and organizations with an opportunity to deposit and hold their cryptocurrency outside of traditional exchanges (while enjoying more privacy, protection, and security at the same time), a lot of the same services “brick and mortar” banks offer are available through crypto banks, too.
Lending and borrowing, great interest rates and easy transacting between accounts are just some of the services provided by the best cryptocurrency banks.
Choosing the Right Crypto Bank is Critical
While some folks get unnerved by the idea of investing their crypto in a space where regulation isn’t the norm, the most effective crypto banks blend a healthy dose of security with basic banking principles and guidelines supported by regulatory departments like the SEC.
And things are getting even safer.
There’s a lot of action worldwide to build new banking regulations that deal specifically with cryptocurrencies, especially bitcoin – the crypto most consider to be the “digital gold standard” right now.
On top of that, a lot of innovative entrepreneurs are finding ways to make cryptocurrency feel a little more tangible without attracting the same kinds of problems that fiat currencies struggle with (the very reasons bitcoin and other crypto options were created in the first place).
It’s still incredibly important that you find the right cryptocurrency bank to do business with, though.
Doing your own research and due diligence, verifying that the cryptocurrency bank you’ve chosen has a solid reputation and enough security features in place to protect you, and asking around to find out which crypto banks are worth their salt are all great ways to inform your decision on the right crypto bank to go with.
Here’s Why So Many People Choose BitLeague for Their Crypto Banking Needs
If you’d like a jumpstart on finding the right cryptocurrency bank, you may want to take a look at everything BitLeague brings to the table.
As one of the most popular banking operations in the crypto space, there are a lot of reasons to move forward with us as your new crypto banking platform. The three biggest reasons most people swing our direction, though, are simple.
We’re fee-free. We have eliminated ALL fees for buying or selling bitcoin. We don’t believe you should have to pay for your own money, so we don’t make you. Simple as that!
We don’t do minimums. Deposit what you have, no matter how much or little. We’ll make sure your funds are well taken care of.
Cashing out is simple. Not only do we make it easy to access your bitcoin whenever you want – but we also make it easy to turn your bitcoin into cold, hard cash.
While other banking platforms in the space take forever to move your crypto, BitLeague is one of a handful of cryptocurrency banking options that guarantees you’ll get your cash fast– often in as little as 24 hours! Plus, with our BTC-backed loan system, you can get cash even faster, and not save your bitcoin cashouts for a rainy day.
When you want the best cryptocurrency back in the market, BitLeague should be your #1 choice. Sign up for a free account today, and see if we’re right for you!