Countries with banks to buy and sell cryptocurrencies - page 5.

bitgolden

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Quote from: mamahdedeh on January 30, 2020, 09:48:01 PM

Quote from: USBitcoinServices.Com on January 30, 2020, 06:51:34 PM

Quote from: imons on January 30, 2020, 01:50:12 AM

Quote from: sunsilk on January 29, 2020, 04:11:40 PM

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

Indeed Malta is like the center of cryptos, leading this industry in many ways, good for them and their citizens, being pro-crypto will bring them a lot of benefits and fast progress!

So do not be surprised if there are many projects in crypto with offices there, because indeed the government provides freedom in Malta. many people also say that this country is a paradise for cryptocurrency

Malta is a small nation with around 4.94 lacks population as per 2019 population count. This leads them to be more advanced and technical as the resources available in that specific nation are in good amount but the population to use them is much lower as compared to any other countries. This might have made Malta to start regulating the cryptocurrency transactions for the betterment of their population.

This has created a huge impact on the cryptocurrency projects and also we could see that places where cryptocurrencies are been circulated without any legal restrictions than the number of crypto related projects grown in such nation and the same is the case with Malta.

ReiMomo

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I was one of the people who got excited about this project. The first days where people are trying to address this idea were the days the Cryptocurrency industry was booming. People are getting excited to make it work in the real world. However, this one idea caused banks and the government to notice the potential disruption and threat to their businesses.

Since cryptocurrencies are generally decentralized, Bank has no chance to control or take advantage of the market. So they need to call the people who let them do business which is the government. They will be distrupted, the business and the taxation. Everything would make the wolves and lions angry.

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Quote from: USBitcoinServices.Com on January 30, 2020, 06:51:34 PM

Quote from: imons on January 30, 2020, 01:50:12 AM

Quote from: sunsilk on January 29, 2020, 04:11:40 PM

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

Indeed Malta is like the center of cryptos, leading this industry in many ways, good for them and their citizens, being pro-crypto will bring them a lot of benefits and fast progress!

So do not be surprised if there are many projects in crypto with offices there, because indeed the government provides freedom in Malta. many people also say that this country is a paradise for cryptocurrency

BuNga_cute

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Indeed, something like this is expected by the cryptocurrency community, banks can accept cryptocurrency transactions. Because of the
country with the bank receiving cryptocurrency transactions will make the economy stronger. Because cryptocurrency investors and bank
investors can help each other, hopefully it will continue to grow in countries where banks have begun to openly accept cryptocurrency
transactions. Thus growth can make cryptocurrency can also be increasingly rapid and may even become a global currency.

USBitcoinServices.Com

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Quote from: imons on January 30, 2020, 01:50:12 AM

Quote from: sunsilk on January 29, 2020, 04:11:40 PM

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

Indeed Malta is like the center of cryptos, leading this industry in many ways, good for them and their citizens, being pro-crypto will bring them a lot of benefits and fast progress!

bitcoinst

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To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.
It seems that the banks simply decided to stick their intermediary services here.

However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.

I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.

sunsilk

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Quote from: imons on January 30, 2020, 01:50:12 AM

Quote from: sunsilk on January 29, 2020, 04:11:40 PM

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

For the past years, they were always been in the news and I thought that it's something like that. Yeah, they're still far from that kind of adoption but still their status about crypto is better to be like that than nothing or negative.

When I've searched about exact thought of OP about Malta, it's really not that I have expected because as you have said they are still in the process. However, they probably are and will be going up to that point within the next months or up to a year.

Smitty Werben Man Jensen

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Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 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?

not many other countries besides Germany and Japan have the legality of cryptocurrencies, I am grateful that there are currently countries that trust Bitcoin, currently Bitcoin is still likely to be an asset rather than a currency

Slow death

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Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 PM

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

If I am correct, there is a difference between countries that let people use their debit cards to buy bitcoin because as in these countries there are no laws they simply allow people to do it Vs countries that legally allow people to buy bitcoin with cards of legally permitted banks. If my reasoning is correct it means that few countries have legally allowed commercial banks to accept that their customers buy bitcoin using their debit cards. I know Japan and Malta and the USA (I think)

romero121

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More and more countries are getting into cryptocurrency usage with regulations that needs to be followed. Banks are the one that experience a huge revenue loss out of the increasing cryptocurrency usage. Germany being a leader to technology driven industries coming forward with banks starting to buy and sell cryptocurrencies takes cryptocurrency to next level of growth.

This year marked to be a big year for cryptocurrency. As a part more countries have begun to accept cryptocurrency and create their own cryptocurrency.

imons

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Quote from: sunsilk on January 29, 2020, 04:11:40 PM

No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

It is a long process and Malta does not realize at this point how far ahead they went (compared to other countries) and what advantage they can gain with trading crypto.

breathlessz

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Quote from: USBitcoinServices.Com on January 29, 2020, 02:34:56 PM

Quote from: barbara44 on January 29, 2020, 10:08:10 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 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 am damn against this type of banks holding your crypto for you thing. They did it one time before with fiat and now they are literally holding less money in their vault than the money they say they can give out, just to give an example there are banks with 1to9 ratio where they can hold 100 dollars but give 900 dollar loans instead, we do not need that with bitcoin at all.

Think about it they will show your bank account with 1 bitcoin but they will have 0.1 bitcoin instead, is that something you would want to happen? Right now if everyone in the whole world with money on their bank accounts went and tried to withdraw it, eventually banks will not have enough money to give it, it is basically a big ponzi scheme, bitcoin can't be like that at all.

Sure! we the smart people do not need commercial banks, but non-techie people will need them, there are a lot of people that don't know how to manage digital money like cryptocurrencies. Banks will cover that necessity, and at the same time will promote crypto indirectly!

right, I think cryptocurrency does not have a dependency with banks, maybe in European countries banks do that for personal gain, given the number of bitcoiners. and banks certainly want to continue to exist and control the economy with changing times

sunsilk

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No one has mentioned Malta, we've been hearing the good news about that country that they are very open to cryptocurrencies. Binance did open an headquarters on that country because AFAIK, tax is there is free with some conditions.

But it's an example of a country who has a go signal for cryptocurrencies but don't want to issue or sell bitcoins directly. I guess for this matter, it's hard for another country to see such banks to buy and sell crypto's. Do we need them if we already have specific exchanges where we can trade?

USBitcoinServices.Com

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Quote from: barbara44 on January 29, 2020, 10:08:10 AM

Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 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 am damn against this type of banks holding your crypto for you thing. They did it one time before with fiat and now they are literally holding less money in their vault than the money they say they can give out, just to give an example there are banks with 1to9 ratio where they can hold 100 dollars but give 900 dollar loans instead, we do not need that with bitcoin at all.

Think about it they will show your bank account with 1 bitcoin but they will have 0.1 bitcoin instead, is that something you would want to happen? Right now if everyone in the whole world with money on their bank accounts went and tried to withdraw it, eventually banks will not have enough money to give it, it is basically a big ponzi scheme, bitcoin can't be like that at all.

Sure! we the smart people do not need commercial banks, but non-techie people will need them, there are a lot of people that don't know how to manage digital money like cryptocurrencies. Banks will cover that necessity, and at the same time will promote crypto indirectly!

Ozero

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Quote from: meto012 on January 29, 2020, 02:58:07 AM

Quote from: asus09 on January 29, 2020, 01:08:26 AM

Will be good way for bitcoin raise to higher price again, many bank look interested for accepting bitcoin and altcoin as their partner platform and become wonderful way how to make bitcoin become best and most popular payment digital currency in the world at the future, good working with bitcoin right now have update their way to be implement in real business.

I have a strong feeling that none banking system nor govs of any country wants to deal with uncontrollable and unknown bitcoin.
So they rather make up their own digital currency, maybe less secured and more centralized but more comfortable for them to work with it.
I don't see bitcoin as worldwide digital currency of the future honestly, but I really want it tho

State banks do not risk anything if they provide services for the exchange of cryptocurrencies in ordinary currency and take a certain percentage for this. The high volatility of the cryptocurrency will not in this case affect the profit of banks from the provision of such services. Therefore, it all depends on the laws in specific states. If legal and organizational problems are resolved, banks of any form of ownership will provide cryptocurrency exchange services. The provision of additional services will depend on their profitability.

Ryker1

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Well, BELARUS. One of the cryptocurrency-friendly country and I guess the number one. I still remember the days where cryptocurrency companies are trying to move to that country since the Belarusian government is also making projects in the crypto-space. I still remember them making a building exclusive only for cryptocurrency-based companies. Switzerland, one of the cryptocurrency-friendly country as well. I still remember that Libra is actually based in Switzerland, --they also have banks where you could do money-laundering. A dream country for money maniac, indeed!

barbara44

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Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 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 am damn against this type of banks holding your crypto for you thing. They did it one time before with fiat and now they are literally holding less money in their vault than the money they say they can give out, just to give an example there are banks with 1to9 ratio where they can hold 100 dollars but give 900 dollar loans instead, we do not need that with bitcoin at all.

Think about it they will show your bank account with 1 bitcoin but they will have 0.1 bitcoin instead, is that something you would want to happen? Right now if everyone in the whole world with money on their bank accounts went and tried to withdraw it, eventually banks will not have enough money to give it, it is basically a big ponzi scheme, bitcoin can't be like that at all.

Lucius

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Quote from: magneto on January 29, 2020, 06:08:02 AM

I really don't get the obsession that people seem to hold over traditional banks embracing bitcoin.

It is not difficult to conclude that people trust banks the most when it comes to their money, so if their bank offers Bitcoin as one of the services, then for most people this is a sign that Bitcoin is something positive because banks would otherwise not accept it. Personally, I don't see anything wrong with having anyone go to a bank and buy BTC, which is actually a lot easier than making a crypto exchange account, go through KYC and then deposit fiat via bank to exchange.

Confidence, security, practicality, and speed are in this case something that will definitely attract people. Some will certainly not agree with the big institutions going crypto business this way, but I would like to see some better alternative that leaves BTC completely decentralized, yet at the same time allowing for progress in adaptation.

The BTC sign-on banks, post offices or shopping malls may not be a distant future, but it is still something that governments must approve - while on the other hand, BTC has to become competitive with other forms of payment.

magneto

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Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 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 really don't get the obsession that people seem to hold over traditional banks embracing bitcoin.

As far as I know, commercial banks aren't the ones that are currently integrating BTC in their day to day practices. Rather, the only traditional institutions that are able to sell them as investment products are financial intermediaries as well as investment banks.

Commercial banks aren't exchanges anyway. They need not fill the role of a crypto exchange for crypto to succeed.

kro55

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Quote from: USBitcoinServices.Com on January 28, 2020, 05:58:10 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?

Not sure but I think South Korea, Switzerland and Slovenia are also in this list. There are very few countries that are embracing the crypto revolution rather then opposing it. In my country its still ban to buy and sell bitcoin and anyother currency.

Topic: Countries with banks to buy and sell cryptocurrencies - page 5. (Read 1615 times)