[19-04-2018] Barclays Explores Cryptocurrency Trading Interest

Hammond ltd

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Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

it's all about money, my friend. now they feel that more revenue can be generated with exploration of crypto and started to pay attention

Universal pics

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Quote from: jjacob on April 20, 2018, 12:37:13 AM

Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

Let me tell you something - if a bank smells money in any field, they will soon come around to doing business. They may warn you about the dangers of cryptocurrencies but if you are hell bent on dealing with them, there is good money to be made from selling cryptocurrencies to you. Sooner or later, one bank will enter the field and that will set off a stampede.

this is true. ideas and concerns stop for the when the opportunity to grab miney occur

BitHodler

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Quote from: richardsNY on April 20, 2018, 12:31:34 PM

I even asked why others have had their accounts closed, but they couldn't give me an answer on specific cases.

It might be related to the trigger points banks have. Banks have different types of trigger points each representing a certain category that could be fraud, suspicious activity, tax report triggers and so forth

Banks never share any information concerning their customers in such a fashion, so I'm not surprised they didn't say anything about it, and I'm glad they didn't, because they should value individual privacy.

Quote from: richardsNY on April 20, 2018, 12:31:34 PM

I even called the bank once to ask whether or not I'm at risk as well, because if so I would move to another bank, but they said everything is perfectly fine as long as you remain operating within their policies.

I think that sums up pretty nicely what I was referring to when talking about trigger points. It's smart for people to first read through the terms of their bank, especially before conducting transactions involving higher amounts.

richardsNY

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Quote from: IconFirm on April 20, 2018, 11:51:52 AM

Then you're one of the lucky ones. I've read many reports of them closing accounts for crypto trading - here's just a few examples:

I think banks are very selective when it comes to doing their job and closing or freezing accounts. I have seen various complaints pop up about people having problems with their bank accounts due to crypto activities in my country, while I am using that bank as well, but never have had anything to complain about. I even called the bank once to ask whether or not I'm at risk as well, because if so I would move to another bank, but they said everything is perfectly fine as long as you remain operating within their policies. I even asked why others have had their accounts closed, but they couldn't give me an answer on specific cases. It's very weird for sure, but as long as we somewhat depend on them, not much will change....

IconFirm

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Always ask questions. #StandWithHongKong

Then you're one of the lucky ones. I've read many reports of them closing accounts for crypto trading - here's just a few examples:

https://www.telegraph.co.uk/finance/personalfinance/investing/11537972/Barclays-closed-down-my-bank-account-after-Bitcoin-trade.html

https://bitcointalksearch.org/topic/barclays-closing-bank-accounts-related-to-bitcoin-364293

https://bitcointalk.org/index.php?topic=364293.20

A backup plan is wise.....

Kprawn

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Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

I have to disagree with you. I used Barclays with my local exchange and have been doing this for years. I even approached

them before this and they did not close my account. They have a problem with money laundering, so if you cannot show

where the money came from, then you will be in a spot of bother. I have several Bank accounts with different Banking groups

as a backup plan. Wink

IconFirm

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Always ask questions. #StandWithHongKong

Quote from: 1Referee on April 20, 2018, 08:26:12 AM

Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

Realistic scenario/theory; banks try to cut down on future competition by making doing business impossible for exchanges, and then they themselves will launch 'fully legalized' exchanges to take over there where regular exchanges are no longer able to seek for banking services. It's definitely a nasty practice, but a very effective way to for banks tho prevent regular exchanges from fully utilizing their first mover advantage.

Banks have never been shy of these nasty practices, all to eliminate competitors with iron fist, and I am quite sure that my theory will be very close to the reality at some later point in the future. At that point you'll also see how they enable people to miraculously buy crypto with credit again. It's money they are after, money that they think belongs to them, greedy bastards that they are. One answer to this, and one word; DEX.

Exactly. Or Bisq.

I don't & never will trust centralized exchanges - especially ones owned/run by any bank. Decentralize everything.

SlipMart

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Quote from: 1Referee on April 20, 2018, 08:26:12 AM

Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

Realistic scenario/theory; banks try to cut down on future competition by making doing business impossible for exchanges, and then they themselves will launch 'fully legalized' exchanges to take over there where regular exchanges are no longer able to seek for banking services. It's definitely a nasty practice, but a very effective way to for banks tho prevent regular exchanges from fully utilizing their first mover advantage.

Banks have never been shy of these nasty practices, all to eliminate competitors with iron fist, and I am quite sure that my theory will be very close to the reality at some later point in the future. At that point you'll also see how they enable people to miraculously buy crypto with credit again. It's money they are after, money that they think belongs to them, greedy bastards that they are. One answer to this, and one word; DEX.

I see this this happening in the future

1Referee

legendary

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Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

Realistic scenario/theory; banks try to cut down on future competition by making doing business impossible for exchanges, and then they themselves will launch 'fully legalized' exchanges to take over there where regular exchanges are no longer able to seek for banking services. It's definitely a nasty practice, but a very effective way to for banks tho prevent regular exchanges from fully utilizing their first mover advantage.

Banks have never been shy of these nasty practices, all to eliminate competitors with iron fist, and I am quite sure that my theory will be very close to the reality at some later point in the future. At that point you'll also see how they enable people to miraculously buy crypto with credit again. It's money they are after, money that they think belongs to them, greedy bastards that they are. One answer to this, and one word; DEX.

bitzamp.com

jr. member

Activity: 140

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Quote from: jjacob on April 20, 2018, 12:37:13 AM

Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

Let me tell you something - if a bank smells money in any field, they will soon come around to doing business. They may warn you about the dangers of cryptocurrencies but if you are hell bent on dealing with them, there is good money to be made from selling cryptocurrencies to you. Sooner or later, one bank will enter the field and that will set off a stampede.

That is a fact..We can see what happened with Ripple.

jjacob

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★Nitrogensports.eu★

Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

Let me tell you something - if a bank smells money in any field, they will soon come around to doing business. They may warn you about the dangers of cryptocurrencies but if you are hell bent on dealing with them, there is good money to be made from selling cryptocurrencies to you. Sooner or later, one bank will enter the field and that will set off a stampede.

bitzamp.com

jr. member

Activity: 140

Merit: 1

Quote from: IconFirm on April 19, 2018, 11:48:43 AM

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

You can verify the News sir

IconFirm

hero member

Activity: 1438

Merit: 574

Always ask questions. #StandWithHongKong

I don't believe this & hope it's not true.

Barclays are infamous for closing the accounts of crypto traders for no reason.

I wouldn't trust any exchange they're involved in, or any other bank for that matter.

bitzamp.com

jr. member

Activity: 140

Merit: 1

Barclays Explores Cryptocurrency Trading Interest From Crypto Trading Desk
Barclays Plc has been assessing customer interest in the British bank from the cryptocurrency trading desk, potentially joining Goldman Sachs Group Inc. as a pioneer in a new business on Wall Street, according to people with knowledge of the subject.

This is the first cryptocurrency trading platform launched by a European investment bank. The bank is still

Read More: https://bitzamp.com/barclays-explores-cryptocurrency-trading-interest-from-crypto-trading-desk/

Topic: [19-04-2018] Barclays Explores Cryptocurrency Trading Interest (Read 141 times)