Note, there are referral links below, so I am declining payout for this post
There are lots of ways to purchase crypto. Unfortunately, there are only a small number of banks who are willing to play ball (ACH, debit Visa, etc.)with companies tied to cryptocurrencies.
One bank that I found that has yet to deny a crypto-related transaction is Navy Federal Credit Union.
https://www.navyfederal.org/membership/become-a-member/ not a referral link
To get an account, you need to have a family member who is a present or former member of the military, though I am not sure how this is enforced. I am former Air Force, so no issue for me.
I have successfully used Navy Federal Credit Union for all of the services below, and more (most are referral links).
- Coinbase
- CashApp
- BlockFi
- Crypto.com App
- Voyager
- Splinterlands (via Paypal)
- Abra
It's surprising to me that something called Navy Federal Credit Union would have such a liberal policy on crypto banking, but it's good to know there are some banks out there who let you do whatever you want with your money. If you are eligible for an account, I highly recommend them.
Are there any banks you have found that make transacting with crypto companies easy? Please let me know in the comments.
Posted Using LeoFinance
Nice support for America's credit unions @joshman! 👍
I have been a member of one since I was a boy and think they are the "no brainer" option for any of us who want to steer clear of the big banks. Local banks are okay, but like small farms and small mining operations (I have experience with both ...), they are going "the way of the dinosaur" and steadily being bought out ...
While we are members of a huge credit union out West, with easy links to all of the crypto resources we have needed thus far, we are also members of Navy Federal Credit Union, as well, with two of our children serving in the Navy, so it was any easy choice to make for us!
Hard to beat "shared services" transfers between them, with no fees involved!
Credit unions are the best kept secret!
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So surprised about the restrictions in the US. I'd recommend keeping your crypto in non custodial wallet services also if aren't already. The reason for this is because you want to have custody over your crypto at all time as opposed to handing them over to strange companies registered in even stranger extra territorial jurisdictional geographic locations?