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Topic: First licensed crypto-BANK! - page 2. (Read 11525 times)

newbie
Activity: 30
Merit: 0
November 08, 2018, 07:07:05 AM
#51
BTCANKING ON BTCITCOIN

"EQIBank acquired its banking license in September 2018 to become the world’s first licensed and regulated bank to provide customers with a single banking relationship for their entire national currency, crypto and digital asset ecosystems. Instead of having to form multiple relationships with separate financial institutions, customers can access a comprehensive suite of services including clearing and settlement, trading, custody, lending, and banking." Pulled from https://www.financemagnates.com/thought-leadership/eqibank-the-first-licensed-bank-for-crypto-national-currencies/

As I look around and try to find the next biggest trend in crypto, I came across a company called EQI. I've been in the space for roughly 4 years and have seen it start from ICO's to Airdrops, Exchanges, and now Oracles and crypto-banking. I've looked over this project for some time and they seem to have their s%$! together as far as compliance, team, and vision.

Being in America, I think this would suit those best as we have to deal with these centralized giants like Wells Fargo, Chase, Suntrust, etc taking our funds and the fact we don't even own the money that we think we do- it's just what we are "owed".  I believe this can be the next wave of crypto trends and I hope to see others follow in the same path. We need to eliminate the disease of big banks we have now that are taking our money! What are your thoughts on EQI and the current banking system? Are we nearing a solution to this epidemic?


What good reasons do you have that makes you think anyone would agree to make use of this Bank? 🤔And btw, no one ever said that their bank is owing them or whatever it is you’re trying to say. Bank is all about safety and everything they do is due to security reasons. I will rather have my money saved in banks than putting it online in a cryptocurrency bank. If tomorrow my bank mess up with me I know where to find them but not you people.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
November 07, 2018, 07:01:15 AM
#50
~

100 euros? Only for transferring fee? It is too high. I don't want to say that it is good in the part of cryptocurrency people but it does not mean that it will become assurance of price hiking. Well, I thought that banks never want crypto to exist so I assume also that this is a token bank. Well, a lot of ICO's I saw that are related in crypto banking which are scam.
Oh! You think bank really knows what they want? What they are just basically after is to keep trying as much as possible to want to at least keep milking those they can milk and as long as there is potential for profit when it comes to a new thing, I am sure they will always find a way to blend in.

We always know how banks have always operated for their own selfish reasons, so I see no doubt in seeing them trying to at least take advantage of some set of people who want to be a part of this space, but don't just know how to go about it and as long as they are benefiting from it, they will just shut up eventually. Have you not noticed that banks are the biggest hypocrites the world can ever have?

Yeah, banks have a simple plan. They want to make money, just like any damn business out there.
I doubt there is a single person here that is going to say, forget about money I will do it for free 8 hours a day, 30 days a month just because I feel like working for free brings me close to Walhalla.

Banks have investors, you can buy shares, even in those new shady crypto banks, you can buy their tokens, its business nothing special.
And what would be your plane once you're a shareholder? Not getting as many dividends as the bank can deliver?

Talking about being hypocrites.
I know a guy that was cursing the major oil company in our country day and night till he realizes that one investment fund he put about 10k down was having a big stock in that company, and most of his plan growth came from the exact guys he was screaming are making tons of money stealing from his pocket. Whenever I start talking about that subject he tries desperately to change the discussion ...probably if I continue doing this he will get out of that investment plan ...but the scent of money is too strong.
newbie
Activity: 31
Merit: 0
November 07, 2018, 06:22:01 AM
#49
crypto-banking is a good step towards creating public trust in crypto and this will encourage more investors and new users to join crypto, if this continues and the more new crypto banks emerge then we will know what the future of crypto will be
Yes, I agree with you, crypto- banking is a first step that will open a new world for cryptocurrency. hopefully there will be more crypto-bank in near future.
full member
Activity: 448
Merit: 102
November 07, 2018, 05:43:56 AM
#48
A bitcoin bank is a contradiction in terms, since the blockchain is already a bank. In addition, in this operation there are many obscure points, so it seems to me a good and good scam. We'll see how it turns out.
Certainly no doubt it is a huge contradiction, considering the fact that as a cryptocurrency user, you are meant to be your own bank without the involvement of a third party, but we still have to realize that in as much as it could be easy for some of us, there is still a chance that some will really find it hard, so in that way, if banks want to be involved in the space, to at least service the latter, then I guess there is a lot of room for everyone and then a chance for the space to grow further.

However, at this stage, I really do not expect any smart person who is a tech savvy to obviously trust the banks over their own judgment to keep their funds for them.
legendary
Activity: 2100
Merit: 1058
November 07, 2018, 04:35:45 AM
#47
EQIBank is definitely proud to get The first crypto-BANK license, I saw a lot of Cryptocurrency competition that was prestigious and getting hotter, and to be honest I wanted to know the end result of crypto competition in the future.
It seems to me like this is going to be the new trend we are going to be seeing very soon, considering how banks are beginning to find every single means to at least be a part of the cryptocurrency ecosystem and benefit from it.
It is not a bad idea, as this would generate some awareness at least, and even though I have never been a good fan of the bank, and now that there is an alternative with cryptocurrency with which I can easily be my own bank, they can go screw themselves.

Nonetheless, we need to accept that not everyone will be able to think or act the same way we do, and some will find it a bit hard to make some decisions on their own, and if banks decides to fill this gap, in as much as they know they will be gaining a lot from it, but still, it would help increase adoption the more in a way and won't restrict it to just the internet savvies.
hero member
Activity: 910
Merit: 512
November 07, 2018, 03:59:10 AM
#46
Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Quote
Annual Fee:   Accounts <€5M Maintenance € 1’000
Wire Transfer Fee:   € 100

I hope there are quite a few of extra zeros in that table or it's some sort of Aprils Fools Halloween joke !


100 euros? Only for transferring fee? It is too high. I don't want to say that it is good in the part of cryptocurrency people but it does not mean that it will become assurance of price hiking. Well, I thought that banks never want crypto to exist so I assume also that this is a token bank. Well, a lot of ICO's I saw that are related in crypto banking which are scam.
Oh! You think bank really knows what they want? What they are just basically after is to keep trying as much as possible to want to at least keep milking those they can milk and as long as there is potential for profit when it comes to a new thing, I am sure they will always find a way to blend in.

We always know how banks have always operated for their own selfish reasons, so I see no doubt in seeing them trying to at least take advantage of some set of people who want to be a part of this space, but don't just know how to go about it and as long as they are benefiting from it, they will just shut up eventually. Have you not noticed that banks are the biggest hypocrites the world can ever have?
newbie
Activity: 31
Merit: 0
November 06, 2018, 09:19:30 AM
#45
The time will tell if this will be successful project or not. It's good thing that such bank has appeared but the fees are horrible. With some competition that might appear in the future hope this will change too. And let's see how users will accept this new concept.
full member
Activity: 490
Merit: 123
November 06, 2018, 08:53:23 AM
#44
The conventional banks are restricted by so many regulations it is practically impossible to engage in crpto banking.

Isnt this exactly why cryptobanking is not possible at this point of time? Because in order to do cryptobanking + FIAT you need licenses, but crypto would deny the license..?

sr. member
Activity: 1316
Merit: 379
Catalog Websites
November 05, 2018, 11:17:52 AM
#43
The conventional banks are restricted by so many regulations it is practically impossible to engage in crpto banking. Therefore the idea of crypto banking is a good one. It will be focused and not encumbered with that much regulations as the conventional banks.
full member
Activity: 1246
Merit: 102
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
November 05, 2018, 10:53:27 AM
#42
Establishing a cryptobank is good innovative in the financial world, I hope the transaction charge of the cryptobank will not be more than the traditional banking system we are running from because most of the cryptocurrency to fiat exchanging  platform charges even more than bank.
in essence all people want transactions that are fast and inexpensive and safe. many people with conditions like now they do not argue about fees, but there are also those who question it, depending on personal viewpoints
member
Activity: 236
Merit: 10
November 05, 2018, 08:02:04 AM
#41
Establishing a cryptobank is good innovative in the financial world, I hope the transaction charge of the cryptobank will not be more than the traditional banking system we are running from because most of the cryptocurrency to fiat exchanging  platform charges even more than bank.
full member
Activity: 490
Merit: 123
November 05, 2018, 06:59:22 AM
#40
At this point webpage is not working for me, i cant tell how legit they are but as far as i can tell from linkedin page, it seems far fetched- account opening in the end of 2018.
Since cryptos at large are not regualted yet, i dont see how this could be a legitmate venture, at least not now. Maybe they can do regualr finances while being crypto friendly..till regulation is in place.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
November 05, 2018, 03:47:06 AM
#39
~
This is new news in my encyclopedia and before it, I had known that Venezuela is going to officially open a crypto bank for the revival of their economy that will help them tackle the challenges they have been facing in the form of hyperinflation and inflation. So this is not bad because ultimately it helps you transform things into a digital format and the more people use the banking facility, the more the demand for the coins will rise plus the knowledge about cryptocurrency will spread.

Seriously, what are you talking about?
Venezuela? Who mentioned Venezuela?

And it is not bad? it's 100$ fee for a transfer, do I have to spell it for you what it means?
It means increased cost of services > inflation!!!!!! , exactly the stuff you were so afraid of.

~
I am really hoping it is actually a Halloween joke. But if this is for real, and looking at the fees, that is pretty typical of banks. It is actually absurd to even see some people seeing this as a great innovation and then probably there is every chance that the banks already know that there are some people who do not actually understand any concept at all.

I'm turning day by day into a pessimist and when I read my posts I sometimes think I'm exaggerating stuff a bit but that's just till the next piece of news makes me think I'm right.

What have we done with cryptos to change the flawed system into something better? Almost nothing!
We have almost centralized currencies whose characteristics are determined by some team nobody elected, a lot of web wallets
 replacing banks with crappier security and 10x more exit scams and ICOs...no  need to add more here.

And those crappy services that have the nerve to come with a bunch of lies and astonishing fees are actually getting applauded by people here!!  It might be that they are only sig spammers who don't bother to read but still...

hero member
Activity: 952
Merit: 503
November 05, 2018, 01:59:21 AM
#38
Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Quote
Annual Fee:   Accounts <€5M Maintenance € 1’000
Wire Transfer Fee:   € 100

I hope there are quite a few of extra zeros in that table or it's some sort of Aprils Fools Halloween joke !


This is new news in my encyclopedia and before it, I had known that Venezuela is going to officially open a crypto bank for the revival of their economy that will help them tackle the challenges they have been facing in the form of hyperinflation and inflation. So this is not bad because ultimately it helps you transform things into a digital format and the more people use the banking facility, the more the demand for the coins will rise plus the knowledge about cryptocurrency will spread.
member
Activity: 505
Merit: 35
November 04, 2018, 07:07:06 PM
#37
Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Quote
Annual Fee:   Accounts <€5M Maintenance € 1’000
Wire Transfer Fee:   € 100

I hope there are quite a few of extra zeros in that table or it's some sort of Aprils Fools Halloween joke !


100 euros? Only for transferring fee? It is too high. I don't want to say that it is good in the part of cryptocurrency people but it does not mean that it will become assurance of price hiking. Well, I thought that banks never want crypto to exist so I assume also that this is a token bank. Well, a lot of ICO's I saw that are related in crypto banking which are scam.
member
Activity: 546
Merit: 33
Rasputin Party Mansion
November 04, 2018, 06:42:08 PM
#36
A bitcoin bank is a contradiction in terms, since the blockchain is already a bank. In addition, in this operation there are many obscure points, so it seems to me a good and good scam. We'll see how it turns out.
legendary
Activity: 3080
Merit: 1500
November 04, 2018, 12:44:13 PM
#35
Has EQIbank been established and is operating or still in the project? if it is not already operational, then there is one more project that has obtained a license before EQIbank, it is World Bit Bank, they obtained a license in February 2018. You can see it on the website https://wbb.io

I believe Eqibank is already licensed as per the claim on their website. However, I am unable to see any proof as such! On the other hand, I see WBB ICO is still running and the license number is mentioned in their website! While investigating further on the given license numbers, I see the WBB is not at all licensed as a Banking organization!

Instead they are licensed as a "virtual currency wallet service" and "Virtual currency exchange service", but not as as Banks! Check the below links,

https://mtr.mkm.ee/taotluse_tulemus/478892
https://mtr.mkm.ee/taotluse_tulemus/478888

So I doubt the legitimacy of the claim where they say that WBB is the "First Licensed Legal Cryptocurrency Bank"! There is difference in claim and reality!
sr. member
Activity: 798
Merit: 251
November 03, 2018, 08:31:59 AM
#34
no chance for this idea, banks and crypto can not work together, we need choose between them and take only one option  Embarrassed
legendary
Activity: 1176
Merit: 1024
November 03, 2018, 08:14:08 AM
#33
Not a chance! Do you know why I am in this business at the first place ?

To become my own bank, that is what bitcoin has promised me, to be my own bank. I do not like banks, I actually HATE banks and this is why I was interested in bitcoin early on as well, I have been around longer than most people because I was literally searching ways to live my life without having to worry about any banks.

Banks are deceitful and scammers and they will do anything and everything in their power to make even a single cent from you. Banks like HSBC is literally the reason why people are suffering today. They go out and make deals with drug dealers to make their money legit however at the same time they call you and tell you to pay your 1.13 dollar "debt". That is not a freaking debt thats chump change and if you do not pay (who cares about 1.13 dollars) than they will call every single family member telling them to tell you to pay.
I really do feel your pain bro, and I totally agree with you that banks have been a huge pain in our asses, but one way or the other, I still see them as a necessary evil. In as much as we may not like them, their policies or how they have done things over the years, they still basically serve a purpose and I do not think that purpose is something that can easily go away.

Moreover, what I am seeing here is more like a service which I believe will be channeled to some faction of people who really cannot do things on their own but would like to participate in the cryptocurrency space, and in that case, it is a mutual benefit, but apparently, no one is imposing anything on anyone, but we all know banks will never stop with their extortions one way or the other.
legendary
Activity: 3514
Merit: 1963
Leading Crypto Sports Betting & Casino Platform
November 03, 2018, 04:34:17 AM
#32
The massive fees that they are charging, will be the barrier to entry that Satoshi wanted to get rid of, when he created this technology. Satoshi did not want people to pay $500 to use Bitcoin, so why should we pay this to a centralized Bank?

The unprofessional website will also raise some eyebrows, when people visit the site for the fist time. We do not need another fly-by-night operation like this to use Bitcoin, because they are a dime a dozen these days.  Roll Eyes   

Give us a legit Bank that are not afraid to operate under presure from governments and who would be willing to open their doors to Crypto currency users, who wants to link their Bank to their Crypto exchange.   Wink
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