The ideal of crypto means not having to rely on banks and institutions. But the reality of the industry, at least today, is that many digital-asset companies need traditional finance firms to help provide customers with a reliable on-and-off ramp between their platforms and the world of hard currency. Therein lies a growing problem. What banks work with cryptocom The Bank of England (‘we’ or the ‘Bank’) collects personal data about you when you sign up to one of our newsletters. This information includes your name, email address and the details of the organisation you work for (if provided).

Ultimately, the choice between an individual bank account and a self-custodial crypto wallet depends on your specific needs and preferences. Banks provide a long-standing and regulated infrastructure for traditional finance, while self-custodial wallets offer greater control, privacy, and access to the world of cryptocurrencies. It's essential to consider the pros and cons of each option and assess which aligns better with your financial goals and risk tolerance. Regulatory drivers TransferWise does not support transfers to Bitcoin or any other cryptocurrency using their services, directly or indirectly. But you can send money from your balance with bank details to a platform that deals with Bitcoin or another cryptocurrency.