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Business Banking Advantages with a Crypto Friendly Bank12 min read

Business Banking Advantages with a Crypto Friendly Bank12 min read

Reading Time: 5 minutes

Business banking now offers crypto friendly bank advantages to its users in digital banking. With the increasing adoption of cryptocurrency businesses are increasingly realizing the advantages of collaborating with a bank that’s open to crypto. The ability to access both banking services and cryptocurrency capabilities offers benefits, for companies regardless of their size.

Why is It Important for Businesses to Work with a Crypto Friendly Bank?

In today’s paced business world it’s crucial to be able to accept cryptocurrency payments as it opens up new opportunities. Many customers prefer using digital currencies, like Bitcoin and Ethereum for their online purchases. 

By incorporating the ability to seamlessly receive payments through a cryptocurrency bank account your business can stay relevant and competitive in the current market.

Moreover by partnering with a bank that understands the world of cryptocurrencies you can tap into the growing economy. As more vendors embrace assets as a means of payment for goods and services businesses can leverage their crypto friendly bank accounts to make international or cross border payments at lower fees compared to traditional wire transfers. This can lead to long term savings on transaction costs.

What are the Advantages of Crypto Banking?

One of the advantages of working with a bank that’s supportive of cryptocurrencies is the ease of converting between traditional currencies, like USD and EUR as well as popular digital currencies. 

Numerous banks that cater to assets offer conversion services right within their banking platform. This convenience allows businesses to seamlessly accept cryptocurrency payments and have them deposited as currency into their business checking account.

In addition, friendly banks provide companies with options for managing liquidity and facilitating low cost global payments. Digital assets generally have transaction fees compared to wire transfers or credit cards. 

By converting fiat currency to cryptocurrency through their bank account businesses can save money on every payment before sending it abroad.

Leading crypto banks also offer banking and accounting features that streamline financial management. Many provide reporting tools that track both cryptocurrency and fiat transactions in one place. This integrated view of a company’s operations makes bookkeeping and tax filing more efficient.

crypto friendly bank

How Can Businesses Benefit from Cryptocurrency?

While accepting crypto payments is an obvious way businesses leverage cryptocurrency, there are other advantages as well. Companies can use their crypto account to pay international banking vendors that accept digital assets. This avoids the high fees associated with cross-border wire transfers and opens up new global supplier options.

Businesses can also benefit from the investment potential of cryptocurrencies. By depositing a portion of profits in digital assets through their crypto friendly bank account, companies gain exposure to an entirely new asset class. This diversifies investment holdings and provides opportunities for growth. Some crypto banks even offer competitive interest rates by depositing certain cryptocurrencies in earning accounts.

The decentralized nature of cryptocurrency networks also allows for new types of business models and revenue streams. Companies can build applications, marketplaces, or services based on blockchain technologies. 

Having a financial partner that understands this emerging space is important for supporting crypto-native ventures.

Why is Crypto Better than Traditional Banking?

While traditional banks still play an important role, cryptocurrency provides some advantages over the existing financial system. Digital assets operate on decentralized networks not controlled by any single entity. This independence from central authorities means transactions cannot be blocked politically or financially like we’ve seen with certain payment processors.

Crypto transactions also typically confirm much faster than legacy electronic payment networks. Sending funds across borders with Bitcoin or other cryptocurrencies takes minutes versus days with a wire transfer. The immutable public record of transactions further adds transparency lacking in traditional banking.

Additionally, many cryptocurrencies were designed to have a fixed supply schedule and are not inflationary like government-issued fiat currencies. For businesses and individuals seeking to preserve purchasing power, digital assets can act as a long-term store of value better than holding cash reserves in bank accounts.

What is the Difference Between a Bank and a Crypto Bank?

The main distinction is that crypto banks provide services for both cryptocurrencies and traditional fiat currencies within a single financial platform. 

Customers have access to standard banking features like checking and savings accounts, lending, and payment processing – but these can all be managed directly alongside cryptocurrency holdings and transactions.

Traditional banks only work with government-issued fiat currencies and generally do not allow direct use of or trading in cryptocurrencies. Crypto banks fill this gap by combining the benefits of modern financial technology with blockchain-based digital assets. They effectively bridge the gap between traditional banking and the emerging crypto economy with online banking accounts.

Some key differences are that crypto-friendly bank accounts have specialized technology to securely store private keys to customer cryptocurrency wallets. 

Crypto banks also provide instant conversion between major cryptocurrencies and fiat currencies directly within their banking interfaces.

crypto friendly bank

What Transactions Can be Done with a Crypto Friendly Bank?

The best crypto friendly bank on the market, The Guardian Bank, allows businesses to perform a wide range of transactions both in cryptocurrencies and traditional fiat currencies through a single account. Customers have the ability to:

  • Deposit and withdraw fiat currencies through wire transfers and debit/credit cards
  • Deposit and withdraw over 50 major cryptocurrencies directly to the platform
  • Instantly convert between cryptocurrencies and fiat at competitive exchange rates
  • Make fast crypto and fiat payments globally with just a recipient’s address or account details
  • Receive crypto and fiat payments from customers or business partners
  • Access robust online banking tools to track all financial activity in one place
  • Earn interest by depositing certain cryptocurrencies in flexible earning accounts
  • Leverage advanced API and software developer tools for building customized solutions

With the best digital bank like The Guardian Bank, businesses have everything they need to seamlessly work with both traditional currencies and digital assets.

Best Digital Crypto Friendly Bank for Beginners

For businesses just getting started with cryptocurrency, one of the top options is The Guardian Bank. As a fully regulated offshore digital bank, it provides all the standard banking services along with advanced crypto capabilities.

Some key benefits The Guardian Bank offers for beginners include:

  • User-friendly web and mobile banking interfaces that are intuitive to navigate
  • Low minimum deposit requirements to open a business account
  • No monthly account fees and competitive exchange rates
  • 24/7 live chat and phone support from financial experts
  • Secure cold storage and military-grade encryption of digital assets
  • Educational resources like articles and webinars on cryptocurrency
  • Ability to test transactions with small deposit amounts before going all in

By partnering with a trusted crypto friendly bank like The Guardian Bank, businesses of any size can dip their toes into the digital asset space safely and start enjoying the advantages of crypto banking. The dedicated crypto banking experts provide guidance every step of the way.

As the world continues transitioning towards a more digital economy, having access to both traditional banking services and cryptocurrency capabilities will become increasingly important for businesses. Partnering with the best offshore bank like The Guardian Bank provides numerous advantages and opportunities that can help companies gain a competitive edge. The advanced features and global infrastructure of top crypto banks allow seamless acceptance and use of digital assets.