Vast Crypto Banking Review

What is Vast Bank?

Vast Crypto Banking, offered by Vast Bank, is the first FDIC-insured U.S. bank to enable cryptocurrency transactions within its mobile app. This platform provides a secure and user-friendly way for customers to manage, store, and access 12 leading cryptocurrencies, including Bitcoin and Ethereum. With the assurance of FDIC insurance, Vast Bank enhances the safety of digital asset investments.

The standout feature of Vast Crypto Banking is the ability to earn a 0.30% Annual Percentage Yield (APY) on supported coins by buying, holding, or depositing within the app. This blend of traditional banking security with cryptocurrency functionality positions Vast Crypto Banking as a preferred choice for crypto investors, reflecting Vast Bank's commitment to innovation and customer needs.

Is Vast Bank Safe?

Vast Bank stands as a highly secure option for managing and earning yield on cryptocurrency assets, particularly due to its regulatory compliance and FDIC Insurance coverage of up to $250,000 per customer. As a nationally chartered U.S. Bank headquartered in Tulsa, Vast Bank adheres to stringent banking standards, further enhancing its credibility.

For locals in the USA seeking peace of mind in securing their crypto assets, Vast Bank's integration of traditional banking features, such as FDIC Insurance, with innovative cryptocurrency services makes it an extremely convenient and trustworthy option. The bank's 40-year history and commitment to customer care reflect its dedication to providing safe and reliable financial solutions.

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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.

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Does Vast Bank Offer USD Yields?

Yes, Vast Bank does offer yield on USD through their checking account. Specifically, they provide a 4.05% Annual Percentage Yield (APY) on the balance in their digital checking account. This interest rate is significantly higher than the national average, and customers can start earning interest with as little as $0.01 in the account. The APY may vary and is subject to change at Vast Bank's discretion. This offering aligns with Vast Bank's commitment to providing innovative and customer-centric financial solutions.

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Who Regulates Vast Bank?

Vast Bank is regulated by the State of Wyoming Division of Banking. As a licensed and registered financial institution, Vast Bank adheres to the rules, regulations, and oversight provided by this regulatory body. This ensures that the bank operates within the legal framework and maintains the standards required for financial institutions. Being regulated adds an additional layer of trust and security for the bank's customers, aligning with Vast Bank's commitment to transparency and integrity in its banking practices.

Final Thoughts

Vast Bank, a nationally chartered U.S. Bank, has emerged as a pioneering institution by integrating cryptocurrency transactions within its FDIC-insured mobile app. Offering a blend of traditional banking security with the innovation of cryptocurrency services, Vast Bank provides a trustworthy and convenient option for crypto investors. With features like a 0.30% APY on supported coins and a 4.05% APY on USD in digital checking accounts, the bank reflects a strong commitment to customer-centric solutions.

Regulated by the State of Wyoming Division of Banking and adhering to stringent standards, Vast Bank's 40-year history and transparent practices underscore its dedication to safety, reliability, and innovation in the financial landscape.