How to Open an Account with Crypto Bank? (Beginners Guide)13 min read

If you’re just starting with cryptocurrency and digital assets the idea of setting up an account with a crypto bank might feel overwhelming. However, we are here to guide you through each step making it straightforward for you to grasp. 

After going through this guide you’ll have an understanding of how to begin your journey, with banking, in a secure and uncomplicated manner.

How Do I Start a Crypto Bank?

Not all banks are currently equipped to handle cryptocurrencies. There are trailblazers known as “crypto friendly banks” that specialize in digital assets. 

One popular choice, among newcomers is The Guardian Bank, an established institution since 2005 that was among the traditional banks to embrace cryptocurrencies.

Getting started with a bank account is quite simple. Just visit their website. Select the “Open an Account” option. You’ll then complete an application with your contact and identification details. 

The bank employs top notch security measures and encryption to verify your identity online. Once your application is approved they will email you the login credentials, for your cryptocurrency bank account.

How Does a Beginner Start in Cryptocurrency?

Now that your crypto friendly banking account is ready to go, it’s time to make your first crypto purchase. I recommend starting small at first just to get comfortable with the process. 

You can fund your new The Guardian Bank account by connecting your regular bank account or doing a wire transfer. Then on the bank platform, search for the cryptocurrency you want like Bitcoin (BTC) or Ethereum (ETH).

Enter the amount you’d like to purchase in your local currency or crypto, and the bank will instantly buy it from their marketplace at the going rate. 

The coins will be securely stored in your new crypto account. From there, you can hold them as an investment, spend them directly with merchants that accept crypto, or transfer funds to other crypto friendly accounts. 

Taking that first step of opening an account and making a small purchase is the best way to get your feet wet in the crypto world.

What is the Best Crypto Account for Beginners?

When it comes to choosing the best crypto friendly bank to start your journey, The Guardian Bank really is one of the top options available globally. 

Here are a few key reasons why:

Security – As a licensed and regulated bank, The Guardian Bank uses advanced security protocols to keep your funds safe from hackers or theft. Your crypto is stored offline in cold storage for maximum protection.

Ease of Use – Their website and mobile app have super simple and intuitive interfaces that even total beginners can navigate with ease. No complex trading features or settings to overwhelm newcomers.

Fees – The bank has very low transaction fees, and they don’t charge monthly account maintenance or inactivity penalties like some other providers. You’ll save more of your money.

Support – Their customer service is available 24/7 via phone, email, or live chat to answer any questions you might have as a newbie. Getting help is only a message away.

Currencies – In addition to the major cryptocurrencies, the bank supports over 50 different digital assets to give beginners more options to explore the market.

The Guardian Bank really is one of the most user-friendly and well-rounded choices for starting your crypto journey with an easy-to-use crypto friendly bank account.

How  Can I Make Transactions By Opening An Account With Crypto Bank?

Once you’ve opened a crypto friendly bank account and purchased some of your first digital assets, you’ll likely want to know how to make transactions with them. 

Thankfully, The Guardian Bank makes it very straightforward to pay for things or send funds to others.

The easiest way is to directly pay merchants that accept cryptocurrency as a payment method. Just like using your regular debit card, you can shop on participating sites and the amount will be deducted from your crypto balance. 

Under the “Payments” section of your bank account, enter the recipient’s address or QR code and the amount you want to send.

You can also transfer cryptocurrency between your own crypto accounts instantly for free. Or send funds to a friend’s crypto friendly bank account with just their email address. International transfers arrive within minutes, so it’s perfect for sending money globally with low fees.

Businesses also love crypto payments because they save on credit card transaction fees. So whether you’re paying a friend back or your local coffee shop, The Guardian Bank empowers you to easily use your digital assets for spending.

Can Businesses Open Accounts with Crypto Bank Services?

One of the great things about crypto banking is that it’s accessible for both personal and commercial use. 

Enterprises large and small can take advantage of the many benefits of accepting cryptocurrency payments through service providers like The Guardian Bank.

For businesses, opening a business crypto account is very similar to a personal account. The application asks for some additional details like your company name, address, and business structure. The bank also performs more thorough verification for commercial clients.

Once approved, your business will gain all the same great features as an individual crypto friendly account. 

You can receive crypto payments from customers, hold balances in multiple digital asset banking, and even take out business loans using your crypto as collateral. Integrating cryptocurrency is a smart way for companies to reach new customers and markets worldwide.

The Guardian Bank also provides invoicing tools, accounting integrations, and transaction reporting to help businesses seamlessly manage their crypto operations. So whether you’re a small startup or enterprise, the bank has you covered for all your crypto banking needs.

How to Carry Out Transactions with Online Crypto Bank?

Now that you’ve set up your friendly bank account, with The Guardian Bank it’s time to get familiar with how to actually make use of it! Conducting transactions on their platform is really straightforward and user friendly even if you’re just starting out.

The first thing you’ll always do is log in to your account either on the website or through the app. 

Once you’re in head over to the “Payments” section where you can check out your balances of both traditional currencies. Here are some key transaction options available;

Buying Crypto

Search for the cryptocurrency you’re interested in and input the amount and the bank will purchase it instantly at the prevailing rate from their marketplace.

Selling Crypto

Pick the cryptocurrency from your balances that you wish to sell and enter the amount. The bank will convert it back into your currency.

Sending / Requesting

To transfer crypto to another account or wallet provide the recipient’s details along with the desired amount. If you need someone to send funds to you they can pay directly into your bank address.

Payments

Utilize your holdings to make payments at online or physical stores that accept cryptocurrencies by scanning QR codes.

Transfers

Swiftly move funds between your accounts at no cost or send them to bank accounts globally typically processed within one business day.

I hope this complete guide has helped explain everything you need to know to get started with crypto banking through a service like The Guardian Bank. 

Opening your first crypto-friendly bank account is an important step to take advantage of the emerging digital asset economy. 

If you have any other questions as you begin your crypto journey, please feel free to reach out. I’m always around to answer questions from fellow newcomers. The world of cryptocurrency is big but also very exciting. 

By starting small with a crypto bank account, you now have everything you need to confidently take your first steps forward. I wish you all the best in your future crypto adventures!