Five most common private cryptobanking questions answered

Since receiving numerous questions about cryptocurrencies and especially crypto Private Banking we thought that it would be useful to grasp this subject as well in our Coinmotion blog. Coinmotion has been providing people with access to cryptocurrency services since 2012, and has several years of experience in the industry.

What is the idea behind Coinmotion crypto Private Banking?

Coinmotion Private Banking is for individuals who are looking to invest a bit more of their wealth into cryptocurrencies. I myself had to do plenty of research to the cryptocurrency market when I was starting to get interested about the industry around 4 years ago. Information was not so plentiful as it is today and most information was only in English. I personally struggled to find suitable sparring partners to discuss the phenomenon and the cryptocurrency market. We are working to provide our customers with this option of having someone to talk to in order to share ideas and knowledge.

You can find more information about the service from our Private cryptobanking introduction article.

What kind of services are there for Private banking clients

With Private banking you have the possibility of going through your personal situation and market situation with a dedicated Account Manager, gain access to Private Banking insights & market reports and have other perks from us and our associates such as dedicated cryptocurrency tax company services. In addition we are working to add more benefits on our platform and our Private Banking clients will have the privilege in the future to be the first to utilize our new services. On top of these, just to mention a few of our other services, we also provide our client with possibilities for OTC trading, interest accounts for gaining interest for your crypto and a monthly saving feature.

Is Coinmotion regulated somehow?

Coinmotion is a regulated Virtual Currency Service Provider and a Licensed Payment Institution by the Finnish Financial Supervisory Authority (FIN-FSA) offering its services across EEA-countries. We were among the first companies in Europe to have both licenses and are really focused on being a reliable and trustworthy partner in the cryptocurrency sector.

How does the interest account work?

With the Coinmotion interest account you are able to earn interest on your cryptocurrencies. Even though regular banks don’t really pay interest on your euros, you can earn several percentages of interest for you cryptos. Through our partner, Tesseract Investment, you are able to loan your crypto to the market and earn interest. Loans are short term 1 to 30 day loan agreements, and withdrawals from the interest account takes a maximum of 30 days. We will be adding more markets later on to boost the interest rates even higher. To find out more about the risks and the function of the service, take a look at our introduction of the interest account service.

How is Coinmotion a unique service provider

We firmly believe that with a such a new industry born in a relatively short time period investors and clients alike will look for an in-depth, individual service combined with a trustworthy partner. Since the explosive growth of the market and dedicated cryptocurrency apps, customer numbers globally have surged but we aim to also offer a more personalized service while having high priority for security. Especially investors focused on traditional markets may need help in understanding and capitalizing the cryptocurrency market and avoid potential fraudsters in the industry. Our focus is to help customers familiarize themselves with cryptocurrencies and to be a reliable partner along the way.

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The author has worked 10 years in the banking industry working mainly as a professional investment manager before joining our company. Currently he is working with the development of asset management services within Coinmotion.

Writer Sami Kriikkula

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