Consulting for opening a crypto-friendly bank account

Open a crypto-friendly bank account and receive your cryptocurrency earnings without hassle!

Opening a crypto-friendly bank account is not always that easy. Receiving money from a cryptocurrency transition can lead to the closure of your bank account, hence the importance of opening a crypto-friendly bank account. In the current landscape where cryptocurrencies are rapidly changing the financial sector, although few banks offer crypto-friendly accounts, there has been remarkable progress. By 2024, 74% of the largest banks globally, representing 37 of the top 50 in terms of assets under management, have begun to provide these accounts. This development has been facilitated by its connection to regulated cryptocurrency exchanges such as Binance and Coinbase, thus enabling an efficient flow of funds from traditional bank accounts to cryptocurrency trading and vice versa. Despite this integration, many of these banks still do not offer direct cryptocurrency trading services for the retail client segment.

In this context, the Panama law firm Caporaso & Partners presents itself as a reliable advisor for the opening of a crypto-friendly bank account. We offer a comprehensive service that includes a telephone consultation for a fee of 50 EUR, where specific needs are analyzed and guidance is provided on the best banking options. In addition, for those who require more detailed assistance, we provide an explanatory video and help in compiling the necessary forms for opening the account, at a cost of 300 EUR. This service is invaluable for those seeking step-by-step guidance in this complex process.

Our services are especially useful at a time when the popularity of cryptocurrencies is growing exponentially, driving businesses to adopt appropriate payment systems and transforming the relationship between banks and cryptocurrencies. Crypto-safe bank accounts are essential for handling transactions and services related to digital currencies, and offer the possibility of receiving money from cryptocurrency transactions.

 

To choose the best crypto-friendly bank account, it is essential to understand the customer’s specific needs, including cryptocurrency compatibility, fees and charges, and other factors such as security, ease of use, customer service, and the bank’s reputation. When opening an account, it is important to consider security and fraud protection, transaction fees, integration with cryptocurrency exchanges, and quality of customer service.

Neobanks, such as Revolut and Wirex, are seizing the opportunity left by more reluctant traditional banks, but they tend to operate exclusively with clients in Europe. In this sense, Panama is positioned as an outstanding option for global clients. Cryptocurrency-friendly banks are offering services that facilitate a seamless integration between the traditional and digital financial systems, representing a progressive shift in the banking sector.

If you are interested in exploring your options and finding the right crypto-friendly bank account for your situation, our team of experts is ready to advise you. With our telephone consultation and video tutorial, we will guide you through every step of the process, ensuring a smooth and safe transition into the digitized financial world.

 

Requirements for the remote opening of a cryptocurrency bank account in Panama

• Video interview with a bank advisor (scheduled in 24-48 hours)
• Copy of valid passport or identity card if Panamanian or resident.
• Selfie of your face
• Selfie with your ID next to your face
• Copy of utility bill (water, electricity, or telephone) showing your current address
• Evidence of income according to your economic activity (pay stub, income tax return or letter of employment).
• Cold Wallet or Deposit Address (screenshot)
• Exchange name you use and your ID number (screenshot)
• If you maintain a beneficiary of the account, please attach the identity document.

Complete and sign the following forms:

• Signature Registration
• Custody Agreement
• OnLine

In addition, please answer the following questions related to the account opening:

• What will you use the account for?
• What is the source of your income?
• How do you receive your income?
• If effective, how much and why? (cash deposits are not accepted by the bank)
• In addition to your country of residence, you will receive income from other countries, please expand which countries and what links you have with these countries.
• Who are the main recipients of your payments?
• Which ones are abroad? Please expand the countries of your payment recipients, if applicable.
• If you receive income from dividends or Other Investments: What is the source of your dividends? Private Company / Stock Market Investments
• What other investments do you have?
• What is your monthly P2P volume?
• What is your net income from P2P?

Account costs

• Initial deposit for the account is USD 200.00
• Visa Debit Card is USD 26.75 (annual)
• Fraud insurance USD 3.00 per month
• Security token for online banking transactions of USD 10.70 (annual).
• Exchange USDT to FIAT 2% (currently the account only allows exchange of USDT to USD, soon BTC to USD will be available.