Well it is good for both sides they attracted a lot more customers and the crypto gets promoted by them.
So I think it is a win win situation for both parties but when it comes to their ICO I don't really think that the crypto enthusiast would really invest in it .
Crypto is known for being decentralized and banks creating their own ICO would be the other way around for me it seem's like they just want to make some centralized crypto to let them control it and be part of crypto industry.
Topic: A Bank in Liechtenstein Grew It’s Traffic by 900%, by Selling Cryptocurrencies - page 2. (Read 415 times)
June 12, 2019, 12:00:00 PM
June 12, 2019, 11:13:18 AM
The country has a bit the same mentality as Switzerland about money. So the fact that they sell such products is not so surprising.
The bank itself is surely more interested to attract new customers than the 'mass adoption". And talking about it, it doesn't help, people interested to buy such products via their bank are interested to "hold" only, not to use.
The bank itself is surely more interested to attract new customers than the 'mass adoption". And talking about it, it doesn't help, people interested to buy such products via their bank are interested to "hold" only, not to use.
June 12, 2019, 11:12:43 AM
It's cool that instead of fighting the future, some banks are supporting it and finding ways of making profits out of it. Crypto trading is indeed in high demand, and doing it through the bank makes it more official, which can be more comfortable for some people than using popular exchanges.
It seems like they are not only accepting cryptos but also providing ICO services to cater their funding needs! I have just visited the website of Bank Frick and it seems like they are offering a whole array of blockchain banking products including trading and custodian services.
https://www.bankfrick.li/en/blockchain-banking/crypto-structuring-services
Even though the bank is very small in size, but enough to make a major impact in the world of banking by setting a positive example! Kuddos to Bank Frick management!
I have mixed feelings about banks providing services for ICOs. If the bank is able to dive deeply into the project and make sure it's a legit one, then it's great, because it might be a way of throwing scam away from the market. If the bank is mainly focused on profits and is thus only checking whether minimum formal requirements are met by ICOs, it is supporting the market that makes a lot of people lose their money. https://www.bankfrick.li/en/blockchain-banking/crypto-structuring-services
Even though the bank is very small in size, but enough to make a major impact in the world of banking by setting a positive example! Kuddos to Bank Frick management!
June 12, 2019, 10:58:55 AM
Hmm, seems demand in high in Liechtenstein but for bank services, demand will always be because financial institute is something that we all of us use.
But to be fair, in some countries there isn't big demand in banks for cryptocurrencies, in country where I live, almost no one uses Bitcoin ATM. One man from this forum accepted bitcoin payments in his caffee and during two month, there was only one transaction which was almost donation.
In our country there are some Crypto atm but only few used it. I think the demand for crypto is indirect or uncertain on how crypto should be market to the public. But banks can play major role to explain how cryptocurrency works to their clients. But to be fair, in some countries there isn't big demand in banks for cryptocurrencies, in country where I live, almost no one uses Bitcoin ATM. One man from this forum accepted bitcoin payments in his caffee and during two month, there was only one transaction which was almost donation.
June 12, 2019, 09:31:08 AM
So a bank in Liechtenstein created their own trading platform. Alright. It's a good business move to say the least. I don't see anything special though? It's just a new trading platform and it just so happens that a bank started it. Technically probably no different than other legitimate and regulated trading platforms.
June 12, 2019, 09:29:10 AM
Due to the increased demand it is expected to see a growth in the bank sales and trading. Even small crypto exchanges can compete with the big traditional banking institutions in terms of providing financial services and profits.
June 12, 2019, 09:20:43 AM
I read this article 2 hours ago and I think it's a great use case for more companies to understand the value of accepting crypto.
I disagree. Accepting crypto only because it will give you some media coverage and some new clients, while making good business sense for the company in question, isn't exactly a "great use case" for bitcoin on the whole. We want to reach a point where companies want to accept crypto because it is cheaper, faster, easier, safer, etc., than accepting fiat.In terms of this bank specifically, I was concerned when I read this line in the article:
Quote
Furthermore, customers will not be required to have their own cryptocurrency wallet and will regularly receive reports on their cryptocurrency holdings from the bank.
It says customers will not be required to use their own wallet, but it doesn't say if customers can use their own wallet if they wish to. Trusting a third party institution, such as a bank, exchange, or web wallet, to hold your coins on your behalf has only ever turned out poorly, with such institutions being hacked, shutting down, disappearing, scamming, becoming insolvent, etc. Not your keys, not your bitcoin. 
June 12, 2019, 09:13:15 AM
Hmm, seems demand in high in Liechtenstein but for bank services, demand will always be because financial institute is something that we all of us use.
But to be fair, in some countries there isn't big demand in banks for cryptocurrencies, in country where I live, almost no one uses Bitcoin ATM. One man from this forum accepted bitcoin payments in his caffee and during two month, there was only one transaction which was almost donation.
But to be fair, in some countries there isn't big demand in banks for cryptocurrencies, in country where I live, almost no one uses Bitcoin ATM. One man from this forum accepted bitcoin payments in his caffee and during two month, there was only one transaction which was almost donation.
June 12, 2019, 08:59:06 AM
I read this article 2 hours ago and I think it's a great use case for more companies to understand the value of accepting crypto.
We are still in so early stage in this market and every time that a new website/company that decides to accept their site:
1. Gets a lot of media coverage
2. Get new clients.
Will be cool to see more use cases such as this in the near future
Link to the original Article:
https://blog.bitsofgold.net/a-bank-in-liechtenstein-grew-its-traffic-by-900-by-selling-cryptocurrencies/
We are still in so early stage in this market and every time that a new website/company that decides to accept their site:
1. Gets a lot of media coverage
2. Get new clients.
Will be cool to see more use cases such as this in the near future
Link to the original Article:
https://blog.bitsofgold.net/a-bank-in-liechtenstein-grew-its-traffic-by-900-by-selling-cryptocurrencies/
Have I got it right? Does the bank sell cryptocurrencies? This is something completely new!
June 12, 2019, 08:46:39 AM
I didn't know that, is a great news, i hope we can have more banks who will do this on long term and maybe this will help us to have mass adoption, but who know if banks will want to.
June 12, 2019, 08:43:44 AM
It seems like they are not only accepting cryptos but also providing ICO services to cater their funding needs! I have just visited the website of Bank Frick and it seems like they are offering a whole array of blockchain banking products including trading and custodian services.
https://www.bankfrick.li/en/blockchain-banking/crypto-structuring-services
Even though the bank is very small in size, but enough to make a major impact in the world of banking by setting a positive example! Kuddos to Bank Frick management!
https://www.bankfrick.li/en/blockchain-banking/crypto-structuring-services
Even though the bank is very small in size, but enough to make a major impact in the world of banking by setting a positive example! Kuddos to Bank Frick management!
June 12, 2019, 06:08:51 AM
I read this article 2 hours ago and I think it's a great use case for more companies to understand the value of accepting crypto.
We are still in so early stage in this market and every time that a new website/company that decides to accept their site:
1. Gets a lot of media coverage
2. Get new clients.
Will be cool to see more use cases such as this in the near future
Link to the original Article:
https://blog.bitsofgold.net/a-bank-in-liechtenstein-grew-its-traffic-by-900-by-selling-cryptocurrencies/
We are still in so early stage in this market and every time that a new website/company that decides to accept their site:
1. Gets a lot of media coverage
2. Get new clients.
Will be cool to see more use cases such as this in the near future
Link to the original Article:
https://blog.bitsofgold.net/a-bank-in-liechtenstein-grew-its-traffic-by-900-by-selling-cryptocurrencies/
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