Best Online Bank account in order to Cashout Legally

[Bit08425]

hello guys, it's been a while. the crypto market is heating up right now, some of my Friends have already made some life-changing gains with Crypto and we're only at 1.78T total marketCap. we're in a Pre Alts Season right now.
anyways, I have a question for you. So I am planning on Cashing out soon. And I would like to know what is the Best and the Most CryptoFriendly Online Bank Available? I am living in Europe. I've been looking at Revolut Or Even N26. I've been thinking of Using my Binance Debit Card but I don't know yet if the funds are gonna be Stored inside or outside of the Exchange.

do you guys have any suggestion or intel on this topic?

 

[KJK]

You should forget about Revolut if you don't want your money blocked for months with no communication and no explanation from them.

 

[IlyMily]

You should forget about Revolut if you don't want your money blocked for months with no communication and no explanation from them.

+1, forget about Revolut, completely not crypto friendly.

 

[CaptK]

It all depends on the amount and you can cash out legally and pay the tax.

Your residency and Citizenship is the key part to fully be able to give an opinion

 

[JohnLocke]

For large amounts you want to tax where you live you can simply use kraken, never had a problem using them even with large amount (6 figures) amounts.

 

[Bit08425]

For large amounts you want to tax where you live you can simply use kraken, never had a problem using them even with large amount (6 figures) amounts.

Kraken is offering Online Banking solutions for its customers?

 

[bizniz]

The best advice is to keep away from online banks. Old fashioned bricks and mortar banks tend to be much more crypto tolerant.

 

[Bit08425]

The best advice is to keep away from online banks. Old fashioned bricks and mortar banks tend to be much more crypto tolerant.

well, most of my friends in the CryptoSpace are telling me the complete opposite. apparently TransferWise now Wise.com, became more tolerant, and is now accepting Money from regulated Exchange based in Europe and UK. Currently it is pretty hard to cash-out CryptoGains because this sector is relatively New and Unknown from the masses, but soon it will become the Norm for traditional banking and online banking to propose and Facilitate Crypto services to their customers. Otherwise they will soon disappear.

 

[Konstanz]

For crypto exchange I use SpectroCoin, they also have IBAN's (they issue it in your personal name) and card, so you really don't need a separate bank account.
For another purpose, I use Bankera account. They do accept payments from Kraken and other exchanges and no problems... even the support confirmed to me that they do accept.
I had huge problems with so-called old high street banks in my country. I had a couple of accounts closed. Also, it's a problem to open new accounts these days. When you go to the bank and open personal account - no questions asked - these days long gone. Now they ask me for salary proofs and other documents, just to open simple personal account.

 

[JohnLocke]

When you go to the bank and open personal account - no questions asked - these days long gone. Now they ask me for salary proofs and other documents, just to open simple personal account.

these days are over, sadly. For how long have you been using SpectroCoin ?

Personally using kraken to local business account works fine.

 

[Bit08425]

For crypto exchange I use SpectroCoin, they also have IBAN's (they issue it in your personal name) and card, so you really don't need a separate bank account.
For another purpose, I use Bankera account. They do accept payments from Kraken and other exchanges and no problems... even the support confirmed to me that they do accept.
I had huge problems with so-called old high street banks in my country. I had a couple of accounts closed. Also, it's a problem to open new accounts these days. When you go to the bank and open personal account - no questions asked - these days long gone. Now they ask me for salary proofs and other documents, just to open simple personal account.

Exactly. opening a Regular bank account in a traditional bank take forever. this is some solid infos. I will check Bankera and spectroCoin. thanks a lot.

 

[IlyMily]

these days are over, sadly. For how long have you been using SpectroCoin ?

Personally using kraken to local business account works fine.

i really want to know more about this, as Spectrocoin is just another name for Bankera which they seem to never open an account, just charging the non-refundable fee.

 

[Konstanz]

these days are over, sadly. For how long have you been using SpectroCoin ?

Personally using kraken to local business account works fine.

I use them a long time. I am not a day trader, just exchange up to 10 times a year.

 

[Konstanz]

i really want to know more about this, as Spectrocoin is just another name for Bankera which they seem to never open an account, just charging the non-refundable fee.

Well, for me they opened both corporate and personal accounts. As I understand they have many corporate applications and some applications can be rejected. Private accounts don't have application fees, just corporate accounts

 

[Archer7]

I am using N26 and I recently asked them if they are Crypto friendly and the answer was YES, they have no problem with you transferring your money to their bank. You take care of your tax personally.

 

[JohnLocke]

I am using N26 and I recently asked them if they are Crypto friendly and the answer was YES, they have no problem with you transferring your money to their bank. You take care of your tax personally.

N26 is personal account only as far as I remember isn't it or is it possible to open a business account with them?

 

[Bit08425]

N26 is personal account only as far as I remember isn't it or is it possible to open a business account with them?

Yes, it is possible. I've a business account with N26. but I am using it as a regular account for now, because it is currently impossible to switch account or to own both personal and professional account at the same time.

 

[Archer7]

N26 is personal account only as far as I remember isn't it or is it possible to open a business account with them?

Yes, you can have business account with them. Their customer service is amazing.

 

[Bratus]

Is Revolut still work? I saw on the Internet a lot of information that Revolut scam and froze all the money.

 

[Archer7]

Is Revolut still work? I saw on the Internet a lot of information that Revolut scam and froze all the money.

I don't think if it is true. You can buy/sell crypto directly on their app.