There’s no doubt cryptocurrencies have redefined how we look at money, offering a new way to conduct transactions, store wealth, and even earn profits passively. Cryptocurrencies became a democratic beacon of hope for the people that allowed those who dared the opportunity to make something of themselves.
Soon enough, enthusiasts and visionaries in the industry saw fit to merge the best qualities of traditional banking systems with revolutionary technology in the cryptocurrency world. This brought about the age of Crypto Banks, which represents a successful mix between traditional banking systems and cryptocurrency technology.
It aims to provide users with the convenience and security of traditional banking while leveraging the benefits of cryptocurrencies.
With the advent of these game-changing FinTech marvels came the sudden increase in the numbers of malicious actors who are hoping to use the golden age of cryptocurrencies and crypto banking as a means to steal, hack, and take advantage of people’s vulnerabilities for their own financial gain.
So, with the real danger that these hackers and scammers possess, the question has to be asked: How do I choose the right cryptocurrency wallet app for my own banking needs?
Why You Should Choose a Crypto Wallet App
Crypto wallet apps aren’t just glorified digital satchels to store your crypto treasures. These essential platforms act as your first and final line of defense against other people gaining access to your cryptocurrencies.
Choosing the best cryptocurrency wallet for your needs enables you to bank and invest in cryptocurrencies without worrying about every single move you make in the crypto industry. This might not sound like a lot to many, but as with time, having peace of mind is always a priceless benefit, especially in a worrisome industry like the cryptocurrency world.
Having a reliable crypto banking wallet takes this benefit iceberg to new levels, as not only are you looking at a safe cryptocurrency wallet, but you’re also on the hunt for the perfect crypto banking app that would suit your needs, would give you perks, and would elevate your cryptocurrency experience to another world.
So, choosing your cryptocurrency wallet app might just look like a cakewalk, but multiple things at play might make you second-guess, which is always a good thing anyway since it ensures that you’re meticulously looking for that perfect crypto banking app that would suit all your needs.
In any case, to make the journey a little easier for you, we’ve listed down things that you should look out for in a crypto bank app, having these things pre-existent in a crypto bank app ensures that you’re getting your money’s worth through and through, so don’t sideline these features and benefits!
Choosing the Best Crypto Bank App
With numerous crypto bank apps available in the market, it’s essential to choose the one that best suits your banking needs. Here are some factors to consider when selecting a crypto wallet:
1. Accessibility
Accessibility is an essential aspect that you should look for in a prospective cryptocurrency wallet, finding one that allows you to intuitively bank, store, and use cryptocurrency features is a must if you want your crypto experience to be desirable. As such, you should always look for a crypto bank app that offers a clean and easy-to-navigate interface.
Having a crypto bank that doesn’t leave you puzzled and confused about where things are and how things work gives you the indispensable benefit of convenience, allowing you to access, use, and get off as fast as possible.
2. Security Features
There’s one primary reason why you’re looking for a crypto wallet app, and that’s security. Thus, you must spare no time and research when looking for the most secure cryptocurrency wallet in the space.
The security of your crypto assets should be your top priority. This is why you should ensure that the crypto bank app you choose implements robust security measures such as multi-factor authentication, blockchain integration, and transparent transaction histories, as well as KYC-AML implementation to make sure that you and only you can get a hold of your funds while it’s within your wallet’s care.
3. Supported Currencies
Different crypto bank apps support various cryptocurrencies. Make sure that the app you select supports the cryptocurrencies you intend to use or invest in. It’s a massive added benefit if you’re with a cryptocurrency bank that’s cross-chain, allowing you to use multiple currencies on the go without having to access another app in the process.
Additionally, since we’re dealing with crypto and fiat currencies, having a swap ramp that streamlines your conversion process will always be a welcome perk that would keep your cryptocurrency journey simple, fast, and convenient, so be sure to look out for cryptocurrency bank apps that offer these features.
4. Integration with DeFi Platforms
Choose a crypto bank app that offers more than just safekeeping for your cryptocurrencies and fiat, in an industry where you can pretty much gain profit from anything, choose a wallet that integrates with DeFi technology.
5. Customer Support and Reputation
Consider the reputation and customer support of the crypto bank app provider. Look for reviews and feedback from existing users to ensure that the app has a track record of reliable and responsive customer support.
Choosing the best cryptocurrency wallets out there through word of mouth, as well as online reviews from reputable sources like TrustPilot or unbiased YouTube video reviews will always be a perfect source for information when looking for the best crypto wallet for your banking needs.
Scallop: The Future of Crypto Banking
While you’re on the lookout for that cryptocurrency wallet that would suit all your fiat and crypto banking needs, you should consider Scallop, the first and leading cryptocurrency banking wallet app that offers more than just wallet safekeeping.
With Scallop, all ticks and boxes for crypto bank features you should look for are crossed out, and with even more offerings to give you, but don’t take our word for it, just take a look at what Scallop can give their customers currently:
1. Global Financial Capability
Scallop is primarily accessible in the EU, but don’t fret as you’re able to enjoy its benefits wherever you are! Simply sign up and follow the KYC instructions, and Scallop will grant you the chance to open your International Bank Account Number (IBAN) which you can gain access to and even fund straight away.
2. Airtight Security
Security is the least of your worries with the Scallop Crypto Bank App! Blockchain integration, KYC-AML features, 2FA (Two-Factor Authentication) to make sure that you’re the only one able to access your funds while it’s inside your wallet, and even a two-way fund insurance of up to $100 million for when things go south is just some of the things that you would enjoy while you’re in Scallop’s care.
When they say they take security to a different level, they mean it!
3. Holistic Currency Offerings
Scallop means business with their currency capabilities. Apart from having the widest collection of supported currencies out there, Scallop also offers these:
Cross-Currency Banking allows you to bank and pay using either crypto or fiat for everything.
Scallop Ramp so you don’t have to visit different apps and subject yourself to security risks just to convert your fiat into crypto or vice versa.
Scallop Card which is a full-fledged crypto card that you can use just like any other credit/debit card! Fund it with crypto or fiat and use it to pay for products and services on the go.
As you can see, Scallop doesn’t spare costs when pushing for the best crypto services, which makes it the top choice for every crypto banking enthusiast out there.
4. DeFi Integration
Looking to earn more while you’re crypto banking? Scallop has your back. Through its official utility token $SCLP, you can earn passive dividends through staking and yield farming.
Now you can profit from the comfort of your own home, passively might I add, while your funds are as secure as they can be.
5. Reputation
Reputation isn’t a problem with Scallop, with millions of supporters around the world, and a revolutionary project that’s backed by the financial geniuses in the European Continent, Scallop’s reputation shines gold against the competition, making it anybody’s prime choice when looking for that perfect cryptocurrency banking app to start their crypto journey with.
Final Thoughts
Thanks to Crypto Banking, investors are offered a secure, user-friendly, and innovative platform for managing digital assets. When choosing a crypto bank app, consider factors such as user interface, security features, supported currencies, integration with DeFi platforms, customer support, and reputation. And for that matter, consider Scallop your first choice crypto bank app.