Topic: First major bank has embraced bitcoin adding it to their services (Read 1107 times)
The interest is a good thing as long as they are adding and not subtracting from bitcoin and sometimes I worry that some of these big companies are going to attempt to railroad or hijack the coin.
Am I missing something here. You tell them your Coinbase password so that they can access your account. They then let you see your balance, but they don't let you do anything with your Bitcoins. If I'm right, are people really stupid enough to fall for trhis?
Trust me there are more than enough stupid people out there who would fall for this.
Am I missing something here. You tell them your Coinbase password so that they can access your account. They then let you see your balance, but they don't let you do anything with your Bitcoins. If I'm right, are people really stupid enough to fall for trhis?
I guess this is a step for Bitcoin in a way but then again, this is Coinbase. It's basically the PayPal of Bitcoin wallets.
So this automotive shenanaghans of a bank is owned by coinbase? So we will see coinbase to be the official bitcoin institution if you want to have to do anything with bitcoin you will have to go thru them.
I guess this is a step for Bitcoin in a way but then again, this is Coinbase. It's basically the PayPal of Bitcoin wallets.
It will be a major improvement and success of the bitcoin if it is started to run and supported by the banks, with tha more people will trust on it and will rely on it for a longer time.
Doubt that banks will put any effort into embracing bitcoin as it is their rival, and a strong one. This looks to me not like a bank , but just another
merchant/service taking btc and dumping straight on for cash. But none the less, its always nice to see progress being made, even the small one.
When you just look at past 2 years or so, disregarding the price, bitcoin has made a large progress on spreading amung people and services, just a matter of
time when it will be the most dominant online form of payment.
Here's the article:
http://bravenewcoin.com/news/retail-bank-integrates-bitcoin-service/
USAA = United Services Automobile Association
i think It's only useful to people who would trust online wallets. Does these mean both of these companies now have access to your private keys or only coinbase. http://bravenewcoin.com/news/retail-bank-integrates-bitcoin-service/
Quote
Following a four month pilot program, USAA members can now view the balance of their Coinbase account, alongside the rest of their USAA accounts and financial services.
The financial services group made a major investment in Coinbase, during the US$75 million Series C fundraising round in January 2015, alongside The New York Stock Exchange and BBVA Ventures.
In order for USAA customers to add their Coinbase account, they only need to go to their accounts summary page, add the account, and sign into Coinbase. From there onwards, Coinbase wallet and vault balances will show up inside of their USAA online and mobile accounts, underneath the “My Accounts Summary” page.
The financial services group made a major investment in Coinbase, during the US$75 million Series C fundraising round in January 2015, alongside The New York Stock Exchange and BBVA Ventures.
In order for USAA customers to add their Coinbase account, they only need to go to their accounts summary page, add the account, and sign into Coinbase. From there onwards, Coinbase wallet and vault balances will show up inside of their USAA online and mobile accounts, underneath the “My Accounts Summary” page.
USAA = United Services Automobile Association
March 18, 2016, 11:00:08 AM
It will be a major improvement and success of the bitcoin if it is started to run and supported by the banks, with tha more people will trust on it and will rely on it for a longer time.
March 18, 2016, 10:59:55 AM
any kind of positive publicity that bitcoin can get is good. i am sick and tired of all the media calling bitcoin criminal's money.
Yup.
Ten million respectable US automobile association members using BTC helps make it mainstream. The more "normal" people using BTC the better.
March 18, 2016, 10:57:03 AM
From the article it seems whatever services they are integrating bitcoin with is via coinbase. Meh.
Yes, they are giving their services through Coinbase. So in reality its just an extension to the coinbase.
You cannot say that bank has introduced dealing with bitcoin directly.
They're not going to deal directly with Bitcoin for a simple reason, banks are the pillars of modern society, that means global economy would crumble without them. They're not going to implement an element as unpredictable as Bitcoin into their otherwise orderly system without some insurance. Coinbase acts as the accountable entity for Bitcoin.
March 18, 2016, 10:54:57 AM
i say it is an awesome news no matter what.
any kind of positive publicity that bitcoin can get is good. i am sick and tired of all the media calling bitcoin criminal's money.
any kind of positive publicity that bitcoin can get is good. i am sick and tired of all the media calling bitcoin criminal's money.
March 18, 2016, 10:46:28 AM
From the article it seems whatever services they are integrating bitcoin with is via coinbase. Meh.
Yes, they are giving their services through Coinbase. So in reality its just an extension to the coinbase.
You cannot say that bank has introduced dealing with bitcoin directly.
Newsflash - most ordinary people don't want the hassle of wallets on their computer, making sure it doesn't get stolen, retrieving the wallet after the computer crashes, etc.
It's like email - adoption didn't happen till people were able to use third party services like AOL or Yahoo. No-one wanted to buy a domain, set up hosting, use an email connected to that domain, etc etc.
Coinbase is how BTC will go mainstream if it does at all.
March 18, 2016, 10:43:58 AM
I was hoping to open the article and see a "major" bank but I have never heard of this bank. Relatively good news since they can view coinbase next to usd account but I would still like to see a bigger well known bank do this.
March 18, 2016, 10:30:26 AM
this is not a bank and they hold nothing.
it's tiers payment processor and VIRTUAL wallet on coinbase partner.
it's tiers payment processor and VIRTUAL wallet on coinbase partner.
whatever it is, it is not a small financial firm
according to Wikipedia At the end of 2014, USAA had 10.7 million members. and also they are offering offering banking, investing, and insurance.
and here is the official announcement from USSA
https://communities.usaa.com/t5/USAA-News/Bitcoin-Users-View-Your-Coinbase-Account-Alongside-Bank-Account/ba-p/85976?SearchRanking=1&SearchLinkPhrase=bitcoin
Well, they still not one of the major banking groups, like Barclays ..... 10 million people using Coinbase to access their services is hardly something to get exited about, but it's a start and a move in the
right direction. I cannot understand why banks wants to develop their own Blockchains, if they can simply accept Bitcoin. Bitcoin is already widely accepted and they do not need to invest millions into
marketing a new "service" ....because the private ledgers they are developing is actually just a service, not a brand new innovation developed by them.
March 18, 2016, 10:16:58 AM
From the article it seems whatever services they are integrating bitcoin with is via coinbase. Meh.
Yes, they are giving their services through Coinbase. So in reality its just an extension to the coinbase.
You cannot say that bank has introduced dealing with bitcoin directly.
March 18, 2016, 10:13:59 AM
this is not a bank and they hold nothing.
it's tiers payment processor and VIRTUAL wallet on coinbase partner.
it's tiers payment processor and VIRTUAL wallet on coinbase partner.
whatever it is, it is not a small financial firm
according to Wikipedia At the end of 2014, USAA had 10.7 million members. and also they are offering offering banking, investing, and insurance.
and here is the official announcement from USSA
https://communities.usaa.com/t5/USAA-News/Bitcoin-Users-View-Your-Coinbase-Account-Alongside-Bank-Account/ba-p/85976?SearchRanking=1&SearchLinkPhrase=bitcoin
March 18, 2016, 09:45:44 AM
From the article it seems whatever services they are integrating bitcoin with is via coinbase. Meh.
Coinbase make it easy to convert fiat into BTC. Adoption won't happen unless people are people are able to do that...
March 17, 2016, 07:47:12 PM
Here's the article:
http://bravenewcoin.com/news/retail-bank-integrates-bitcoin-service/
USAA = United Services Automobile Association
good news,its only can view balance account from coinbase wallet?http://bravenewcoin.com/news/retail-bank-integrates-bitcoin-service/
Quote
Following a four month pilot program, USAA members can now view the balance of their Coinbase account, alongside the rest of their USAA accounts and financial services.
The financial services group made a major investment in Coinbase, during the US$75 million Series C fundraising round in January 2015, alongside The New York Stock Exchange and BBVA Ventures.
In order for USAA customers to add their Coinbase account, they only need to go to their accounts summary page, add the account, and sign into Coinbase. From there onwards, Coinbase wallet and vault balances will show up inside of their USAA online and mobile accounts, underneath the “My Accounts Summary” page.
The financial services group made a major investment in Coinbase, during the US$75 million Series C fundraising round in January 2015, alongside The New York Stock Exchange and BBVA Ventures.
In order for USAA customers to add their Coinbase account, they only need to go to their accounts summary page, add the account, and sign into Coinbase. From there onwards, Coinbase wallet and vault balances will show up inside of their USAA online and mobile accounts, underneath the “My Accounts Summary” page.
USAA = United Services Automobile Association
i hope sometime some banks will adding bitcoins as major services,not part of their services,but this is good move
March 17, 2016, 07:24:03 PM
The banks is dealing with bitcoin the same way microsoft is doing with a company between the client and the product,in this case the bank is allowing you to invest on your way and allow you to moove your fiat with coinbase ,well similiar projects will be followed,better they allow then try to hit or kill bitcoin.
March 17, 2016, 06:52:18 PM
this is not a bank and they hold nothing.
it's tiers payment processor and VIRTUAL wallet on coinbase partner.
it's tiers payment processor and VIRTUAL wallet on coinbase partner.
Jump to: