In today’s complex world, people need a simple way to do everything. For many years now, people have been able to use online exchanges to buy, trade and sell cryptocurrencies. However, these online exchanges have not always been the easiest to use, nor have they offered the best rates. In an effort to provide a more seamless experience for both buyers and sellers, Vast Bank has introduced crypto banking services. Now, customers can purchase and sell cryptocurrencies alongside their traditional checking account. Let's learn more about Vast Crypto Banking.
What is Vast Crypto Banking and Who Owns Vast Bank?
Vast Bank’s Crypto Banking is a new service that allows customers to buy, sell and exchange crypto directly from their bank account. The service is designed to give Vast Bank customers the convenience to manage their cryptocurrencies and bank deposits in one place while maintaining a safe and familiar banking experience. Customers can manage their crypto portfolios at any time, and from any location, through the Vast Bank Crypto Banking app.
Bitcoin, Ethereum, Cardano, Filecoin, Litecoin, Orchid, Algorand and Bitcoin Cash are eight cryptocurrencies now available for purchase directly from an FDIC-insured checking account if you are a customer of Vast Bank. In future, Vast Bank Crypto Banking services will provide more digital assets and financial services to customers.
Vast Bank is a family-owned financial institution based in Tulsa, Oklahoma and has been serving customers since 1982. The bank is 100% owned by the Biolchini family.
Is Vast Bank Safe?
Earlier this year, Vast bank became the first nationally chartered U.S. bank to offer its customers the ability to purchase and sell cryptocurrencies alongside a traditional checking account. It was a step in the right direction and we will see more banking/digital asset ventures in the future. However, one major concern is the safety of cryptocurrencies. Since cryptocurrencies are digital in nature, there are always concerns about hacking and loss of funds.
But, Vast Bank takes security very seriously. The bank has partnered with Coinbase to provide a more convenient and secure way for its customers to manage their digital assets. Crypto assets are protected through pooled insurance provided by Coinbase. So, you do not have to worry about your funds being lost or stolen. Moreover, Vast Bank is covered by the Federal Deposit Insurance Corporation (FDIC). Meaning, FDIC insurance coverage protects deposits in the event of a bank failure.
Evidently, Vast Crypto Banking is a game-changer and it could potentially become the new go-to place for cryptocurrency transactions. We’ll be sure to keep you up to date with any news that comes out regarding Vast Bank Crypto Banking.