Summary: Vast Crypto Banking is the first FDIC Insured US Bank that allows customers to natively buy, sell and hold cryptocurrencies through their mobile app. It is a safe and easy way for cryptocurrency investors to store and earn yield on their assets.
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Vast Bank Review
Vast Crypto Banking is the first FDIC Insured US Bank that allows customers to natively buy, sell and hold cryptocurrencies through their mobile app. It is a safe and easy way for cryptocurrency investors to store and earn yield on their assets.
The Vast Crypto Banking platform currently offers 12 cryptocurrencies which includes Bitcoin, Ethereum, Cardano, Chainlink, Cosmos and many others. When you buy and hold, or deposit one of the supported coins on the Vast Bank app, you automatically start earning a 0.30% APY on your assets.
Is Vast Bank Safe?
Vast Bank is arguably the safest way to hold and earn yield on your cryptocurrency assets due to the fact that they are regulated and have FDIC Insurance for up to $250,000 per customer. They are a nationally chartered US Bank that are based in Tulsa, which makes Vast Bank an extremely convenient option for locals in the USA that are looking for peace of mind when it comes to securing their crypto assets.
Vast Bank Fees
Vast Bank currently charge a 1% trading fee when you buy or sell one of the 12 cryptocurrencies listed on their platform. While this is slightly cheaper than Coinbase, it is significantly more expensive than other options in the United States like eToro.
Vast Bank vs Coinbase
Many crypto native investors consider Vast Bank to be a major competitor to Coinbase when it comes to custody and yield earning opportunities on cryptocurrencies. However, when you dig into the data you will find that this is untrue and that Coinbase is the superior platform based on most metrics.
Importantly, the highest yield on your cryptocurrency you can earn via Vast Bank is 0.3% which is incredibly small. Coinbase currently offers up to 7% interest on stablecoins like USDC, which puts the Vast Bank product offering to shame on a relative basis.