Quote
First crypto Bank in the world
Fail, only someone not unterstanding crypto would come up such nonsense. 
Topic: First crypto Bank in the world - page 2. (Read 389 times)
What is the point since bank is third party to hold your coins and bitcoin concept is financial freedom without third parties involved 
Personally I do not agree with the establishment of a cryptocurrency bank even though it is in my country, the reason is that it cannot be completely controlled by the legal owner, so if we deposit crypto into the bank (save money) then they will charge interest per month. this of course will be very detrimental to its users.
This is not a good solution, especially for India which is still vulnerable from a security perspective and also facilities that do not guarantee 100% security. it's better to hold your crypto freely in your control, even if there's a loss it won't hurt a lot of people. Imagine if it was stored in a crypto bank, of course if there was a theft, for example 1 bitcoin per person, would the bank easily return it, while crypto banks in India were still in the experimental stage.
highly not recommended for any reason.
This is not a good solution, especially for India which is still vulnerable from a security perspective and also facilities that do not guarantee 100% security. it's better to hold your crypto freely in your control, even if there's a loss it won't hurt a lot of people. Imagine if it was stored in a crypto bank, of course if there was a theft, for example 1 bitcoin per person, would the bank easily return it, while crypto banks in India were still in the experimental stage.
highly not recommended for any reason.
Most of us are aware that the cryptocurrency market is really progressing in India despite the regulatory uncertainty. And right now the Indians has planned to or has already launched the first cryptocurrency Bank in India at the city of Jaipur
Unicas (The name of the Bank) is a joint venture between the financial services companies Cahsaa and United Multistate Credit Cooperative Society. In an official announcement Cashaa mentioned that Unicas is the very first Crypto bank in the world to open a physical branch and will be able to execute Crypto transactions and local currency through the same account. In addition to that will also provide the same services as local Bank such as buying and selling of Crypto assets and insurance of loans; isn't that great 😁. And also mentioned to expand it services across 14 branches by January 2020 and planning to accelerate the expansion of Unicas to open 100 branch by the end of 2022
Having a crypto bank is a welcomed development because it will be very easy to transact with bitcoin in India both purchasing and selling, but in order aspect of it if I may ask what is going to be the major function of btc bank since we have some exchange platforms where we can buy and sell btc which is existing now such as Binance, but I'm not condemning the fact that bitcoin or crypto bank is bad, but the differentiation between the bank and Binance we know as exchange for long period. Unicas (The name of the Bank) is a joint venture between the financial services companies Cahsaa and United Multistate Credit Cooperative Society. In an official announcement Cashaa mentioned that Unicas is the very first Crypto bank in the world to open a physical branch and will be able to execute Crypto transactions and local currency through the same account. In addition to that will also provide the same services as local Bank such as buying and selling of Crypto assets and insurance of loans; isn't that great 😁. And also mentioned to expand it services across 14 branches by January 2020 and planning to accelerate the expansion of Unicas to open 100 branch by the end of 2022
Most of us are aware that the cryptocurrency market is really progressing in India despite the regulatory uncertainty. And right now the Indians has planned to or has already launched the first cryptocurrency Bank in India at the city of Jaipur
Unicas (The name of the Bank) is a joint venture between the financial services companies Cahsaa and United Multistate Credit Cooperative Society. In an official announcement Cashaa mentioned that Unicas is the very first Crypto bank in the world to open a physical branch and will be able to execute Crypto transactions and local currency through the same account. In addition to that will also provide the same services as local Bank such as buying and selling of Crypto assets and insurance of loans; isn't that great . And also mentioned to expand it services across 14 branches by January 2020 and planning to accelerate the expansion of Unicas to open 100 branch by the end of 2022
What a great news to the crypto world most especially to the Indians
Source: https://www.financemagnates.com/cryptocurrency/news/worlds-first-physical-cryptocurrency-bank-opens-in-india/
Unicas (The name of the Bank) is a joint venture between the financial services companies Cahsaa and United Multistate Credit Cooperative Society. In an official announcement Cashaa mentioned that Unicas is the very first Crypto bank in the world to open a physical branch and will be able to execute Crypto transactions and local currency through the same account. In addition to that will also provide the same services as local Bank such as buying and selling of Crypto assets and insurance of loans; isn't that great . And also mentioned to expand it services across 14 branches by January 2020 and planning to accelerate the expansion of Unicas to open 100 branch by the end of 2022
What a great news to the crypto world most especially to the Indians
Source: https://www.financemagnates.com/cryptocurrency/news/worlds-first-physical-cryptocurrency-bank-opens-in-india/
I've a double thought on this news.
1. It's one of its kind in the crypto world. This means they would reap the benefits of first mover advantage, if there would be any. They'll also experiment for others.
2. I am eager to know how they plan to operate and what's their cutting edge business model that make them different from the traditional fiat banks.
Great indeed to have the first crypto bank.
Ccrypto Bank is a much-needed one for the purpose of better spreading about the cryptocurrency. India being a big market, anything successful within India will yield good profit as well as help in widening of the market. Right now the service is being opened in a partnered manner. More banking services have already begun to operate only with cryptocurrency.
I read a tweet of recent about the how India is pursuing an aggressive digital economy strategy. I believe they will soon become like China in terms of digital Inclusion.
This crypto bank will depeen the digital Inclusion and financial inclusion in this country. With the population of India, it may become a leading digital technology nations in the nearest future.
[moderator's note: consecutive posts merged]
Ccrypto Bank is a much-needed one for the purpose of better spreading about the cryptocurrency. India being a big market, anything successful within India will yield good profit as well as help in widening of the market. Right now the service is being opened in a partnered manner. More banking services have already begun to operate only with cryptocurrency.
I think the concept of the Crypto Bank is not new, In fact, many platforms are already claiming that they are the first one. But my point is are they needed? for me it is not because it's a concept of Centralization, and we are talking cryptocurrencies like Bitcoin, etc. which is promoting decentralization so that it does not make sense to me. The Industry just needs a bridge but not a bank with a centralized function. But thats only my opinion and I'm not an expert about it.
The thread's title is misleading and sounds like a typical ICO lol.
Anyway, while this is good for Indian crypto community and adoption as a whole, I just don't know how long their government still being capricious about their regulation of cryptocurrency on the country.
Anyway, while this is good for Indian crypto community and adoption as a whole, I just don't know how long their government still being capricious about their regulation of cryptocurrency on the country.
Every time I read something about Cashaa, I remember the news that they were hacked in a fairly simple way - so everything that has to do with them seems unprofessional to me in a way. As for the crypto bank, I'm not thrilled with the idea - because every user should be their own bank if we want real decentralization. On the other hand, India is a huge market, and I am not at all surprised by such initiatives.
However they set up their business, I hope they won’t keep their clients ’funds in hot wallets and anything like that.
Cashaa hacked. 336 BTC Stolen.
However they set up their business, I hope they won’t keep their clients ’funds in hot wallets and anything like that.
Cashaa hacked. 336 BTC Stolen.
Banks to be established and accept or adapt this technology won't be a problem. But there's one thing I'm concerned with; will it be used by investors knowing that there are wallets in which we could store our holdings with and exchangers to sell some amount. Indeed it would be a bit of a hassle but fees would be for sure, lower compared to bank transactions which would include taxation (more likely) since it would be under a government. This I think would matter more than establishment of Bitcoin banks. Same thing goes with third party networks which are now accepting or are planning to accept cryptocurrencies as a mode of payment. But if this would be patronised by the users, I am thinking of an advantage banks will offer in order to catch their interest.
Most of us are aware that the cryptocurrency market is really progressing in India despite the regulatory uncertainty. And right now the Indians has planned to or has already launched the first cryptocurrency Bank in India at the city of Jaipur
Unicas (The name of the Bank) is a joint venture between the financial services companies Cahsaa and United Multistate Credit Cooperative Society. In an official announcement Cashaa mentioned that Unicas is the very first Crypto bank in the world to open a physical branch and will be able to execute Crypto transactions and local currency through the same account. In addition to that will also provide the same services as local Bank such as buying and selling of Crypto assets and insurance of loans; isn't that great 😁. And also mentioned to expand it services across 14 branches by January 2020 and planning to accelerate the expansion of Unicas to open 100 branch by the end of 2022😁
What a great news to the crypto world most especially to the Indians
Source: https://www.financemagnates.com/cryptocurrency/news/worlds-first-physical-cryptocurrency-bank-opens-in-india/
Unicas (The name of the Bank) is a joint venture between the financial services companies Cahsaa and United Multistate Credit Cooperative Society. In an official announcement Cashaa mentioned that Unicas is the very first Crypto bank in the world to open a physical branch and will be able to execute Crypto transactions and local currency through the same account. In addition to that will also provide the same services as local Bank such as buying and selling of Crypto assets and insurance of loans; isn't that great 😁. And also mentioned to expand it services across 14 branches by January 2020 and planning to accelerate the expansion of Unicas to open 100 branch by the end of 2022😁
What a great news to the crypto world most especially to the Indians
Source: https://www.financemagnates.com/cryptocurrency/news/worlds-first-physical-cryptocurrency-bank-opens-in-india/
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