Countries with banks to buy and sell cryptocurrencies - page 2.

FanEagle

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Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

Are you sure of what you’re saying? The news I saw never said that any bank in Germany is buying and selling Bitcoin or any cryptocurrency, rather the news was that a new law was passed and according to the federal banks may be allowed to buy and sell cryptocurrency. And of course I’m hoping to see them start doing that, but none of them have started doing because I checked if there was any bank that has already started selling and buying Bitcoin from their customers and there was none. I’m looking forward to other countries doing the same.

Someone once said it’s going to be China, but I don’t believe that. Any country with plans to release its own cryptocurrency wouldn’t tell banks to be buying and selling Bitcoin, because they would want their own cryptocurrency to be the one issued out by the banks.

Spider A4

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Quote from: judaspriest on February 02, 2020, 03:00:14 PM

Quote from: Kupid002 on February 01, 2020, 09:28:34 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

buying and selling bitcoin and other crypto currency is not a problem in my country. You can buy and sell directly using your atm card, not only that there are many other option for buying in my country even using remitances.
I hope it will also work with other country since it all working to us.

where do you live? It seems like your country is very friendly to cryptocurrency, in my country cryptocurrency is still difficult to be used as a means of payment, but to be an asset the crypto currency is already registered with the government Wink

What do you mean cryptocurrencies registered in your country? if register that means legalized crypto from government than why it's troubled to use as a payment and other way to pay, where the prohibition to use? in my country buy and sell is legalize by using atm,VISA card and may ways to pay for buy.

FlightyPouch

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Quote from: blckhawk on February 13, 2020, 07:31:50 AM

Some even don't have any regulation at all, and does not restrict using and buying cryptocurrencies.

Adoption of Germany is quite expectable since they are early to adopt digital currency to eliminate paper cash money. More cities in Germany have most of their population use digital payment systems (but still fiat).

Yes at my place as well there is no proper regulation about crypto but we are able to use it for buying and selling goods from the market. People love to store the coin in crypto instead of keeping in banks because crypto gives them huge profit while keeping money in banks give no actual profit and money will remain as it is that's why better all country accept the worth of crypto.

I think that is good since more and more people will be accepting it and will be wanting to use it as a payment method. If that will also happen in our country, government might put an additional way to secure the safety of its citizen. Banks might even accept it in the future.

adzino

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Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

I think you are a bit confused. The government/bank is not buying or selling crypto currencies. They are just allowing their clients to make crypto purchases online. If I remember, some banks at different countries were blocking transactions that involved crypto currencies. Where did you get this news from? Post a link over here so I can clarify.
Crypto currencies and banks don't go with each other. If banks started to sell crypto currencies, they will end up strictly regulating the currency which in turn will cause people to lose their financial freedom.

Chrystora123

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Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

snip..

The Domino Effect will occur.. where when a country innovates and then succeeds, other countries will follow in the footsteps of that country. IMO.. China, Japan, South Korea, Singapore, and Russia will most likely follow Germany in the future before other countries in the world

erikalui

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Quote from: beerlover on February 14, 2020, 11:48:57 AM

Nobody is afraid of banks going into crypto? I mean looking at the financial world right now, banks are the reason why we are not doing that well right now. They are using everyone's money to make more money, that is literally stealing. I do not have 100% control over what my money is doing right now for example, it is at a bank which is putting it on some stocks and making profits whereas I am said that I can withdraw whenever I want.

Well, that is not reality is it? If all the money was withdraw, how could they pay us all? They would have to at least sell all their investments which would crash the economy. We already gave banks too much power with fiat, I really hope the same won't happen with crypto, if we let them do whatever they want, they will ruin crypto market as well.

Feel the same of giving someone else the control over my funds and they will be applying so many verification barriers to know where each input is coming from. On withdrawals also restrictions would apply. It would be worse than giving exchanges control over our money. I fear if a person chooses to withdraw his entire balance, it would be a case like shares or mutual funds where you get less than what you stored/deposited. Else they would suffer huge loses and stop offering crypto services.

beerlover

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Nobody is afraid of banks going into crypto? I mean looking at the financial world right now, banks are the reason why we are not doing that well right now. They are using everyone's money to make more money, that is literally stealing. I do not have 100% control over what my money is doing right now for example, it is at a bank which is putting it on some stocks and making profits whereas I am said that I can withdraw whenever I want.

Well, that is not reality is it? If all the money was withdraw, how could they pay us all? They would have to at least sell all their investments which would crash the economy. We already gave banks too much power with fiat, I really hope the same won't happen with crypto, if we let them do whatever they want, they will ruin crypto market as well.

erikalui

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Quote from: USBitcoinServices.Com on February 12, 2020, 03:00:14 PM

If banks hold crypto of their users, it will be similar to the online crypto exchanges we know already nothing different, the only difference will be that these commercial FIAT banks will help to spread crypto faster to the non-crypto average person, meaning more value for bitcoin and cryptos.

And we all know what happened when users held their money on crypto exchanges as most got hacked while only few reimbursed the money. If banks also get hacked, there's no point as banks should have the upmost security. I don't see anything positive here as the moment we invest in banks, they circulate our money and give out loans etc. and put restrictions of holding a minimum balance. Thinking about everything, it's not looking good.

Apes

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Bank in Other countries are still not interested in following Germany's Bank steps, because in other country cryptocurrency are still limited in distribution and in daily life use. they will say this step is uneffective, and does not provide significant benefits for bank.
and for the user will prioritize to buy or sell in tranding center because of the more actual market prices, the possibility of buying crypto at the bank would be their last choice.

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Quote from: Williams_Leo on February 13, 2020, 10:53:46 AM

Quote from: Google+ on February 13, 2020, 06:11:29 AM

Quote from: rodskee on February 13, 2020, 02:20:03 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized

in asia specifically in Philippines there are Banks with Cryptocurrency ATM's in which you can Purchase numbers of crypto.

but Banks that Buying and Selling Crypto?that would be cool to see,imagine they are offering safe service(of course without scams like online )and this is one good moves from Government of Germany as they are one of the adopters of Bitcoin and Cryptocurrencies like Japan and other countries.

well, I think a lot of bitcoin atm has been circulating so that many people will find it easier to make cryptocurrency withdrawals but it is unfortunate that currently there are still few who can accept payments using bitcoin and they are still unsure of bitcoin sellers because some countries are still concerned about regulations regarding the use of bitcoin.

Crypto in the past was a potential threat to the government, although the perspective from the government was better with it but the restraint is obvious, so a country that allows banks to buy and sell crypto, I would feel a lot of doubt here if I were a resident of that country. Besides, we should keep in mind that many topics discuss the bank and government's permission to trade crypto but over time, that information seems to be removed, it is best to use trusted exchanges to buy and sell crypto

Keeping buying or trading cryptos at centralized exchanges won't help that much to bring 100% crypto tx and make finance totally decentralized, but in the beginning has to be in this way, maybe in the future, there will be more people using only decentralized exchanges.

plast555

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Quote from: rodskee on February 13, 2020, 02:20:03 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized

in asia specifically in Philippines there are Banks with Cryptocurrency ATM's in which you can Purchase numbers of crypto.

but Banks that Buying and Selling Crypto?that would be cool to see,imagine they are offering safe service(of course without scams like online )and this is one good moves from Government of Germany as they are one of the adopters of Bitcoin and Cryptocurrencies like Japan and other countries.

It's good to see banks offering such crypto services to the people, unlike some countries where banks are banned to provide services to the crypto industries. It's been adopted in the Philippines because of the remittance because cryptos are very cheap for making transfers where traditional means cost a lot for the remittance. This move will be useful for those people a lot

posi

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Quote from: rodskee on February 13, 2020, 02:20:03 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized

in asia specifically in the Philippines there are Banks with Cryptocurrency ATM's in which you can Purchase numbers of crypto.

but Banks that Buying and Selling Crypto?that would be cool to see,imagine they are offering safe service(of course without scams like online )and this is one good moves from Government of Germany as they are one of the adopters of Bitcoin and Cryptocurrencies like Japan and other countries.

There's no doubt about what you said about the Philippine because they prove themselves to be business-oriented in every angle of new innovative technology and business but there are some countries (Japan, Belarus, Malta, Swiss, Gibraltar, Slovenia etc) which the Philippines is totally behind them in the crypto-friendly and bank integration of crypto buy and sell procedure.

Williams_Leo

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Quote from: Google+ on February 13, 2020, 06:11:29 AM

Quote from: rodskee on February 13, 2020, 02:20:03 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized

in asia specifically in Philippines there are Banks with Cryptocurrency ATM's in which you can Purchase numbers of crypto.

but Banks that Buying and Selling Crypto?that would be cool to see,imagine they are offering safe service(of course without scams like online )and this is one good moves from Government of Germany as they are one of the adopters of Bitcoin and Cryptocurrencies like Japan and other countries.

well, I think a lot of bitcoin atm has been circulating so that many people will find it easier to make cryptocurrency withdrawals but it is unfortunate that currently there are still few who can accept payments using bitcoin and they are still unsure of bitcoin sellers because some countries are still concerned about regulations regarding the use of bitcoin.

Crypto in the past was a potential threat to the government, although the perspective from the government was better with it but the restraint is obvious, so a country that allows banks to buy and sell crypto, I would feel a lot of doubt here if I were a resident of that country. Besides, we should keep in mind that many topics discuss the bank and government's permission to trade crypto but over time, that information seems to be removed, it is best to use trusted exchanges to buy and sell crypto

Subbir

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If all countries, including banks launch cryptocurrency buying and selling cryptocurrencies the cryptocurrency will improve and therefore the demand for Bitcoin will increase. In my opinion not just Japan but the UK China and Malaysia will help it spread among the people to enhance their economy and industry Bitcoin does tons of excellent work and without it the crypto market is going to be at its peak when the whole world is spread.

blckhawk

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Some even don't have any regulation at all, and does not restrict using and buying cryptocurrencies.

Adoption of Germany is quite expectable since they are early to adopt digital currency to eliminate paper cash money. More cities in Germany have most of their population use digital payment systems (but still fiat).

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Quote from: rodskee on February 13, 2020, 02:20:03 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized

in asia specifically in Philippines there are Banks with Cryptocurrency ATM's in which you can Purchase numbers of crypto.

but Banks that Buying and Selling Crypto?that would be cool to see,imagine they are offering safe service(of course without scams like online )and this is one good moves from Government of Germany as they are one of the adopters of Bitcoin and Cryptocurrencies like Japan and other countries.

well, I think a lot of bitcoin atm has been circulating so that many people will find it easier to make cryptocurrency withdrawals but it is unfortunate that currently there are still few who can accept payments using bitcoin and they are still unsure of bitcoin sellers because some countries are still concerned about regulations regarding the use of bitcoin.

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Quote from: USBitcoinServices.Com on February 12, 2020, 03:00:14 PM

If banks hold crypto of their users,

You understand what we are talking about here, right? It is no different than Fiat and not sure if that is what Satoshi wanted to happen but probably thought that was inevitable in the end.

Quote

it will be similar to the online crypto exchanges we know already nothing different,

Specially the CEXs which store people's data and give it to the governments to evaluate. Banks of course do that and it will make it even more easier.

Quote

the only difference will be that these commercial FIAT banks will help to spread crypto faster to the non-crypto average person, meaning more value for bitcoin and cryptos.

That is a good thing. We will see a lot of new blood entering crypto and that means more market movements and rising stock prices of these banks. Soon enough other countries will be forced to follow suit.

If this trend continues the good effect is that bitcoin will become more popular than those country-represented shitcoins.

rodskee

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Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized

in asia specifically in Philippines there are Banks with Cryptocurrency ATM's in which you can Purchase numbers of crypto.

but Banks that Buying and Selling Crypto?that would be cool to see,imagine they are offering safe service(of course without scams like online )and this is one good moves from Government of Germany as they are one of the adopters of Bitcoin and Cryptocurrencies like Japan and other countries.

Tylev

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Quote from: USBitcoinServices.Com on January 28, 2020, 10:55:44 PM

Quote from: CryptoBry on January 28, 2020, 10:49:58 PM

Quote from: USBitcoinServices.Com on January 28, 2020, 06:58:10 PM

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit. What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

Aside from Japan & Switzerland where cryptocurrency movement is really strong and expanding, I am expecting that South Korea can be the next one for this trend. Though we are generally wary about banks getting into cryptocurrency I am still considering this as a good news because this can help this industry spread to as many people as possible. We have to admit that people are still trusting banks (even if we might refuse this fact) and so banks can therefore be of big help to convince more people to invest with cryptocurrencies. Banks are for profits and generally they want to deal with anything where they can be making money and where there is clearly a good demand. They are seeing it with cryptocurrency. Let's see and watch developments on this thing and whether this trend can be catching up fire and spread to many other countries as well.

Yes, banks are a good thing to be in the crypto industry, even when we know they are centralized entities, they are a good tool for achieving mass adoption. They might not be there all the time, once people realize the power of decentralization, they might stop using commercial banks!

The participation of banks in the provision of services for the exchange of cryptocurrency into ordinary currency is inevitable and will have only a positive side for cryptocurrency. The appearance of such an exchange in banks will simplify the purchase and sale of cryptocurrency and at the same time increase interest in it, because this will mean a serious attitude towards it from the state.
However, it should be noted that people will not stop using the services of state and commercial banks, since banks perform much more specific functions than cryptocurrency.

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Quote from: erikalui on February 09, 2020, 01:51:29 PM

I read this article after reading this thread: https://www.coinspeaker.com/germany-law-banks-cryptocurrency/

I am not sure how it works as if banks hold crypto on behalf of their clients, what happens if a hack takes place which is the most common thing for any exchange these days. Also, can't find any information about the interest rates and other services like deposits etc.

If banks hold crypto of their users, it will be similar to the online crypto exchanges we know already nothing different, the only difference will be that these commercial FIAT banks will help to spread crypto faster to the non-crypto average person, meaning more value for bitcoin and cryptos.

Topic: Countries with banks to buy and sell cryptocurrencies - page 2. (Read 1606 times)