After the U.S. presidential election, the crypto industry is entering a new bull market. As cryptocurrency increasingly becomes a part of personal financial planning, choosing the right type of bank account and services is crucial. This article outlines
Types of U.S. Bank Accounts
In the U.S., bank accounts mainly fall into two categories: Savings Accounts and Checking Accounts. Crypto investors should also pay attention to accounts that support digital payments and facilitate seamless transfers.
1. Savings Account
Purpose: Designed for long-term savings with interest accumulation.
Features:
Higher interest rates: Compared to checking accounts, savings accounts typically offer better annual percentage yields (APY), ideal for medium- to long-term savings.
Withdrawal limits: Up to six free withdrawals or transfers per month, with fees applied for additional transactions.
Limited withdrawal methods: Accessible through bank tellers, ATMs, or online transfers, making it less suitable for frequent expenses.
Ideal for: Those seeking to grow their funds without frequent withdrawals.
2. Checking Account
Purpose: Designed for daily spending and payments.
Features:
Low or no interest: Prioritizes convenience over interest returns.
Unlimited withdrawals: Funds can be accessed anytime, anywhere.
Diverse payment options: Typically includes:
Debit cards for purchases.
Personal checks for rent or other payments.
Support for electronic payments like Apple Pay or Google Pay.
Ideal for: Individuals with frequent daily expenses and the need for instant payment capabilities.
3.iSunOne USDT/USDC Account
With growing demand for crypto investments, licensed financial institutions in the U.S. now offer digital dollar accounts. iSunOne is a notable example.
Features:
Secure and advanced technology: Supports USDT-based transactions with global, fee-free transfers and instant settlements.
Global consumption card: The iSunOne Visa card is usable at Visa locations and e-commerce platforms like ChatGPT, Amazon, Rakuten, and Taobao Global.
Privacy protection and unrestricted withdrawals: Offers secure, large-scale bank transfers with better privacy protection than traditional accounts.
No upper limit on transfers: Allows for unlimited withdrawals without complex procedures.
Requirements for Opening an iSunOne Account
For individuals:
Personal ID: A photo of your passport or ID card (front side).
Personal photo: A photo of yourself holding the above ID card (mask-free and clear).
Proof of address: Documents such as property deeds, rental agreements, ID card (back side), bank statements (within 90 days), or utility bills (within 90 days).
For businesses:
Proof of existence: Documents such as a certificate of incorporation, business registration certificate, or articles of association.
Ownership structure: A list of major shareholders (holding over 25%) and board members.
Proof of address: Documents such as property deeds, office lease agreements, bank statements (within 90 days), or utility bills (within 90 days).
Comments