Bitcoin Banks

In this year 2021 hundreds of banks across America are starting to accept bitcoins for investment. Bitcoin is growing and becoming more and more popular over time and now it has become difficult for banks to ignore.

“What we’re doing is making it simple for average Americans and businesses to be able to buy bitcoin through their existing banking relationships,” Sells said. “If I’m using my mobile app to do all my banking, I can now buy, sell and hold bitcoin.”

“It’s not just the banks thinking their customers want bitcoin, they’re saying ‘We need to do this because we see the data,’” said Yan Zhao president of NYDIG.

In March, Morgan Stanley was the first among banks to offer bitcoin funds to its clients, CNBC reported last month. Goldman Sachs quickly made an announcement of its own, and JPMorgan is reportedly looking for its own product in conjunction with NYDIG.

“Most people can’t invest in things institutional investors can invest in,” Zhao said. “With bitcoin available at your bank to buy for as little as $1, you now have an attractive asset that anyone can buy for any amount. We think this is very important for economic empowerment”.

Banks will determine how much they will charge their customers for bitcoin trades and will retain most of that fee income, according to Sells.

Let’s now list some banks that already accept Bitcoin

Chime Bank

Founded in 2013 by entrepreneurs Chris Britt and Ryan King, Chime Bank is headquartered in San Francisco, California. Chime is a mobile-only bank that claims to receive your payment two days in advance. In addition to the speed and ease of service, you can now also use Chime to buy bitcoins

USAA Bank

The United Services Automobile Association is a Fortune 500 group of diversified financial services companies based in San Antonio. USAA allows Coinbase users to check their bitcoin balances in their apps and have invested in the exchange.

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Post Written and created by Bruno Costa