Topic: German online bank uses Bitcoins to transfer loans (Read 567 times)
This should be looking as another step toward advance in cryptocurrencies market development. This bank will adopt bitcoin as a mode of transfer credits in the nearby future and we need this type of adoption in other to see growth in cryptocurrencies acceptability.
that is a great improvement and a future for bitcoin, I think this bank will get a lot of profits in its business, because the transaction will be more efficient
Germany has shown a lot of improvement after recognizing the Bitcoin and other crypto coins they took immediate actions and made it as payment mode which is faster and friction-less. About other countries they were not very responsive to the Bitcoin and some other crypto coins after accepting these coins as much Germany responding so this is a great improvement and other countries should also think about it.
Germany is a very pragmatic country. Before doing something, it will think 100 times) Therefore, I am sure that the decision was taken deliberately. And this is very pleasing. I hope Germany will become an example for other countries.
Of course the team of wise men that advise the government to formulate laws and policies would have thought about the possible impact of Bitcoin over the economic activities and only in case of revenue generation, it would have been allowed to be implemented. Like many of the European countries had already allowed it. But this technology, though beneficial in short run is ambiguous in long run and that is the reason China has declared a cold war about it. In the US some of the economists are also negating the fruits of Bitcoin in future so it would be very interesting to see that the future technology of Bitcoin unfolds.
This is great! I am sure that in the future, all banks will do online in transferring funds or loans.This is one of the benefits,bitcoin can give.It is efficient and less hassle.
This is what we expect, more and more state agencies are functioning Bitcoin as a transaction or buying and selling tool. And with news like this it will certainly make people who are skeptical about Bitcoin will be more convinced of Bitcoin. And I hope the development of Bitcoin will get even worse. More countries are using Bitcoin.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
It has a point really. With the help of banks, probably the popularity of bitcoin of other coins or maybe the cryptocurrency itself will boost. This is a good indication, a good example and a good thing to start with. But the thing here is, the essence of bitcoin being the digital currency without interactions from private administrations will be gone. But who knows, the positiveness will help to boost.
This is one reason why I have always believed this is the future and as long as that stays, the government simply cannot do anything much about it as this is global, and then we get to see some countries who are early adopters gradually benefiting a lot from it, all others will definitely in one way or the other, follow put.
This is the first step for the bank to use Bitcoin in the system. Gradually, Bitcoin will take on more important roles.
Glad to here there's some banks who accept bitcoin and believe in it. Now days bank are totally refused the bitcoin and cryptocurrency due to highly volatile.In that process, as time goes on, even banks will find a need to want to make use of it and then see the benefit they can derive from it as well, like we are currently seeing German online banks doing same. High volatility is something that will not last forever, as we have seen reduction in volatility to some extent over the years and as adoption keeps increasing, volatility will definitely be subsiding.
This is good news for Bitcoin. But I don't think it is only Germany. Other governments are doing this, but they are not open, such as Iran, Russia.
This is the first step for the bank to use Bitcoin in the system. Gradually, Bitcoin will take on more important roles.
It might possible German government are supporting bitcoin and want to see him on moon. I hope it can bring more investment in bitcoin and crypto currency and the price of bitcoin start raising again. Blockchain is very widely stepped in its development ! He is not a technology in one state or the enterprise he is truly world technology !
We should spread this news to our bitcoins lover and haters too. More you try to down bitcoin more it rise.The thing is we will gradually start seeing developments like this as we move on and government as well as banks will start seeing how they can tap into the space and be able to find cases in which they can make use of it effectively and improve the way things have been done in the past and German for now have seen the importance and benefits it brings in lending.
Well i am hoping this to take effect in my region as banks here are harder to get loans,but when bitcoin takes place and cryptocurrency become considerable.then maybe i would make some legitimate loans and have good transactions from bankings
Thinking how german governments trest bitcoin and all thr alternative coin?because in ours still banks and crypto i in war for the clients
Thinking how german governments trest bitcoin and all thr alternative coin?because in ours still banks and crypto i in war for the clients
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
It has a point really. With the help of banks, probably the popularity of bitcoin of other coins or maybe the cryptocurrency itself will boost. This is a good indication, a good example and a good thing to start with. But the thing here is, the essence of bitcoin being the digital currency without interactions from private administrations will be gone. But who knows, the positiveness will help to boost.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
It has a point really. With the help of banks, probably the popularity of bitcoin of other coins or maybe the cryptocurrency itself will boost. This is a good indication, a good example and a good thing to start with. But the thing here is, the essence of bitcoin being the digital currency without interactions from private administrations will be gone. But who knows, the positiveness will help to boost.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
It has a point really. With the help of banks, probably the popularity of bitcoin of other coins or maybe the cryptocurrency itself will boost. This is a good indication, a good example and a good thing to start with. But the thing here is, the essence of bitcoin being the digital currency without interactions from private administrations will be gone. But who knows, the positiveness will help to boost.
Blockchain is very widely stepped in its development ! He is not a technology in one state or the enterprise he is truly world technology !
We should spread this news to our bitcoins lover and haters too. More you try to down bitcoin more it rise. This is the first step for the bank to use Bitcoin in the system. Gradually, Bitcoin will take on more important roles.
Glad to here there's some banks who accept bitcoin and believe in it. Now days bank are totally refused the bitcoin and cryptocurrency due to highly volatile. 
really good when Germany bank have using bitcoin for giving loan to costumers, maybe could accepted by other companies using bitcoin as payment. more easy and fast transaction take time if using bitcoin as payment,
Yeah that is a good step from the development of bitcoin, I also hope that many banks in various countries follow the same thing or even better by accepting deposits and withdrawing using bitcoin, of course that will be a very good development for bitcoin itself and of course it can be profitable for both parties..
Germany has been open to crypto and this has made the fundamental basis for trading a few days ago so that the ripple price (XRP) rose to 60% and was able to briefly cap the ETH position which is ranked 2 on coinmarketcap
If bitcoin is not against the German regulations then such news should be expected.
The problem is that bitcoin can't survive with banks and since we can't change how bitcoin works, banks should change their rules to fit bitcoin and blockchain rules.
The problem is that bitcoin can't survive with banks and since we can't change how bitcoin works, banks should change their rules to fit bitcoin and blockchain rules.
Well it's awesome news because you can get a loan in everywhere because of that. It's a great way so people get their loan without any problem you dont need to go to their place to make a loan. So it's a great news.
A great step for adoption. I hope more banks follow suit.
Germany is a very pragmatic country. Before doing something, it will think 100 times) Therefore, I am sure that the decision was taken deliberately. And this is very pleasing. I hope Germany will become an example for other countries.
They are very professionals in handling things like this and I know Germany is a good country maybe this might gonna happen soon but it will happen for good. A great step to finally accept bitcoin by all major banks around the world, its a long process that’s why we need to be more patient. 
This is a good news for cryptos ; and many banks around the world will follow soon.
Banks and Bitcoin will go hand in hand in future I feel
Banks and Bitcoin will go hand in hand in future I feel
well, I think Germany is very open to do it. In other countries Banks see cryptos as their reveals but in this country they combine it. Which is very good to see that they unite not to have a competition but to have a good service to their people.Like other countries such as South korea, Japan and Germany hopefully, other countries could see it too, that Banks and cryptos can be great together.
Germany is a very pragmatic country. Before doing something, it will think 100 times) Therefore, I am sure that the decision was taken deliberately. And this is very pleasing. I hope Germany will become an example for other countries.
really good when Germany bank have using bitcoin for giving loan to costumers, maybe could accepted by other companies using bitcoin as payment. more easy and fast transaction take time if using bitcoin as payment,
This is the first step for the bank to use Bitcoin in the system. Gradually, Bitcoin will take on more important roles.
Blockchain is very widely stepped in its development ! He is not a technology in one state or the enterprise he is truly world technology !
I have been waiting for our region to do same thing,that banks will accept bitcoin not only for loan transfer but for all transctions that involves money
Is rather unfortunate that most of us don't understand the way revolution starts. It starts from one region and slowly creeps into another before engulfing the whole place that is open to it and in the case of cryptocurrency, it is going to touch the whole world.
I therefore believe that the world is gradually feeling a financial revolution coming, so whether bitcoin has been used by German banks for loan transfer or pay up loans, it will eventually be used for daily business financial transactions across.
that is a great improvement and a future for bitcoin, I think this bank will get a lot of profits in its business, because the transaction will be more efficient
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.If banks are going continuously this way,then for sure sooner we will be mainstreaming and may get the majority adaption for the future generations
I have been waiting for our region to do same thing,that banks will accept bitcoin not only for loan transfer but for all transctions that involves money
Germany is advance country in world and always adapting on technology. If banking start using cryptocurrency, i am believe banks can save a lot cost and make their bussiness more eficient. Transfer or make transaction using cryptocurrency much cheaper than banks always use and i am believe banks will adapting cryptocurrency for their bussiness
Oh! That is actually not something new since we all know how the normal system has gone rubble over the years. This obviously shows one thing, one way or the other, governments will have no choice than to realize that cryptocurrency is going to end up saving the day. This may be applicable to online banks in German only now, but it is definitely a very good start for the future and development of the crypto space as well as its usage for the value it brings and not just for speculative purposes.
Germany is advance country in world and always adapting on technology. If banking start using cryptocurrency, i am believe banks can save a lot cost and make their bussiness more eficient. Transfer or make transaction using cryptocurrency much cheaper than banks always use and i am believe banks will adapting cryptocurrency for their bussiness
Well, that simply shows the level at which banks will definitely be able to find a way to evolve alongside the use of cryptocurrencies as they tend to understand the value it brings over time as well as the comfort.Adapting to technology does not usually come all of a sudden, as it would take certain steps and gradual practices to do it right and it is a good thing to see German online banks coming up with stuffs like this and with this kind of news, it shows that over time, real life usage in terms of application of cryptocurrencies will increase.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"
This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
Germans banks are accepting bitcoins now soon world wide banks will move to bitcoin too and use it for their daily basis.Bitcoin has a bright future and we have to accept it. This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
well, if this is true, then Germany also recognizes the benefits of bitcoin, and blockchain technology. well, I just hope other countries also do that, so that they can support this development.
maybe no longer again, other country would follow germain policy.and when it happen we will see bitcoin could be implemented as general payment system.
well, if this is true, then Germany also recognizes the benefits of bitcoin, and blockchain technology. well, I just hope other countries also do that, so that they can support this development.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"
This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
More people use it more the it effects the market people now days are moving to bitcoin which increasing its potential. Good for bitcoin. This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future
i think this good news for germain bitcoin community.but unfortunately there is no effect to bitcoin price today.or maybe investors still worry if ETF rejected , so they postponed their investment.German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future
i think this good news for germain bitcoin community.but unfortunately there is no effect to bitcoin price today.or maybe investors still worry if ETF rejected , so they postponed their investment.
This is a very good news, but it also exposed the crisis of the original economic system. Perhaps the financial crisis is now preparing to sweep the world again. This is advantageous for cryptocurrencies.
Germany is advance country in world and always adapting on technology. If banking start using cryptocurrency, i am believe banks can save a lot cost and make their bussiness more eficient. Transfer or make transaction using cryptocurrency much cheaper than banks always use and i am believe banks will adapting cryptocurrency for their bussiness
They must have started recently, back in December it was so expensive and took so long that I think they would have rather used whatever the old method was 
. I believe we need to improve bitcoin insanely, the blockchain of bitcoin is slow and can't take the load and fame bitcoin is getting.
Right now at this day it looks fine but when those December people finally come back and the transaction count increases by tenfold like it did during December the blockchain couldn't handle all of that and got jammed which caused all kinds of problems for everyone. I think we should improve the blockchain at once before the word about normal day usage of bitcoin gets out so we can actually support that claim.
. I believe we need to improve bitcoin insanely, the blockchain of bitcoin is slow and can't take the load and fame bitcoin is getting.Right now at this day it looks fine but when those December people finally come back and the transaction count increases by tenfold like it did during December the blockchain couldn't handle all of that and got jammed which caused all kinds of problems for everyone. I think we should improve the blockchain at once before the word about normal day usage of bitcoin gets out so we can actually support that claim.
German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future
Well, that is a great news to the bitcoin or the entire cryptocurrency. I never thought that Germany adopts technology for having a service loan using bitcoin, I think that is a good decision since using blockchain technology is a great advantage when having fast and reliable transactions. Easy to have any clients worldwide using bitcoin but a little doubt on my mind how they process the collateral to their clients in the online system service loan. Indeed, this is a great news to us probably bitcoin will go up the high price.
German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future
Albrecht has established an online bank that allows clients to transfer loans worldwide with an excellent Bitcoin. this time we will have more cryptocurrency like a Bitcoin at a very low cost and that's a good idea for all the lenders. with the move to lend money worldwide with urgent process and at low prices on the amount to be paid. Great news
I have heard some good news about bitcoin, and this is one of them. I always hope that this good news has true facts without hoaxes. because now many companies and big countries are starting to receive bitcoin, hopefully with the spread of a lot of positive news it can make prices recover again, and even increase from the expected.
Many bitcoin loan based start ups had difficulties with lack of support in terms of collateral, background checks, creditchex and similar systems utilized by banks to streamline the loan process and make them more reliable. Looks like this small german bank has stepped in to fill the vacuum and it appears to be enjoying success.
Hopefully this will be an indication of future progress with crypto based loans and we'll see other start ups embrace this trend by offering greater support for this.
As crypto loans become more prevalent we could see better frameworks and solutions to issues which have plagued the industry in the past and so perhaps this is a sign progress will be made.
Another way to use crypto property of cheap and fast transactions without really adopting them. This story reminds me a lot of the one about IBM tranferring money between countries pretty much the same way with fiat being converted into btc, sent to destination point and then converted back into fiat. It's better than nothing, of course, but cryptos shpuld not be merely mediators. At the same time, though, I would've never took a loan in the amount fixed in a specific top cryptocurrency. They are extremely volatile and it might lead to one owing a catastrophic amount of money. I wonder why they're not adopting usdt, though. It could allow both fast transactions and a fairly stable price. Is it because of the lack of trust that every tether is actually backed up by one dollar? Hopefully this will be an indication of future progress with crypto based loans and we'll see other start ups embrace this trend by offering greater support for this.
As crypto loans become more prevalent we could see better frameworks and solutions to issues which have plagued the industry in the past and so perhaps this is a sign progress will be made.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"
This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
Great news first i thought using bitcoin in German is illegal but after haring the news i think its not that illegal. Banks are using bitcoin to transfer loans which is great contribute for bitcoins.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"
This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower
"-don't switch guys we are improving, give us a chance"
Germany is far more advanced in terms of banking and adoption of latest technology and the future of money transfer in crypo currencies is defined from German online banking
This is indeed a move in the right direction. If we can witness more real world use of cryptocurrencies definitely the price will appreciate as it would attract more investors to this space.
Yeah, we all know this real life cases is what has been lacking hugely in the cryptocurrency world and only if banks can see the advantages it brings even to them than focusing on some of the disadvantages that can easily be curbed, we won’t be getting some of these news.It is however good that this is already happening in some places which I want to believe some other countries can use as a case study of bitcoin usage in the loan market.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.it's amazing, because a big country like Germany uses the crypto for transactional tools, we should support it, and hopefully in other countries it has the resolve as did Germany to move forward and grow.
That would be possibly happen because Bitcoin os already appear in a small countries and of course it has already in the Germany. The people contributes good thing of bitcoin and they give their best without hesitation in doing it. The country is liv8ng forward to success because of the new trend business which is bitcoin.
Germany is already seeing the advantage this brings and hopefully other banks, as well as other countries will probably see the advantage that surrounds the real life usage of blockchain technology and the crypto market at large.
When it comes to issuing loans in bitcoin, the advantages cannot be overemphasised. Taking a look at the getting a loan from the bank in the same economy, aside from the exorbitant interest rate, the fees attached called management fee is something where that is deducted at source from the loan and also a drawn down of the first installment is even withheld in some case not to talk of the taxes and other charges that will arise from such single transaction. I can only imagine the struggle businesses go through sourcing funding abroad that the eventual funding that they get is always lower than reported investment.
The challenge I see here is the due diligence aspect in other to be sure that business owners make do with their promises of paying back. For those in Germany that won't be a problem but those outside the country that would need to be verified at a very expensive cost for consultants considering the cap of $50,000 at that. I see this arrangement as funding rather than loans because its more practicable than the latter.
The challenge I see here is the due diligence aspect in other to be sure that business owners make do with their promises of paying back. For those in Germany that won't be a problem but those outside the country that would need to be verified at a very expensive cost for consultants considering the cap of $50,000 at that. I see this arrangement as funding rather than loans because its more practicable than the latter.
This is awesome and nice that every i read some of article regarding cryptocurrency and banks i was amaze and greate because as we know and we think th some or mostly of banks qas afraid in cryptocurrency but now they are embracing amd accepting the new technology like cryptocurrency just like in my country that they are now embracing cryptocurrency.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.it's amazing, because a big country like Germany uses the crypto for transactional tools, we should support it, and hopefully in other countries it has the resolve as did Germany to move forward and grow.
That would be possibly happen because Bitcoin os already appear in a small countries and of course it has already in the Germany. The people contributes good thing of bitcoin and they give their best without hesitation in doing it. The country is liv8ng forward to success because of the new trend business which is bitcoin.
This is indeed a move in the right direction. If we can witness more real world use of cryptocurrencies definitely the price will appreciate as it would attract more investors to this space.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.it's amazing, because a big country like Germany uses the crypto for transactional tools, we should support it, and hopefully in other countries it has the resolve as did Germany to move forward and grow.
That would be possibly happen because Bitcoin os already appear in a small countries and of course it has already in the Germany. The people contributes good thing of bitcoin and they give their best without hesitation in doing it. The country is liv8ng forward to success because of the new trend business which is bitcoin.
The German bank is seeing a vision where most of the banks are still in death lock towards bitcoin the future of money transfer through bitcoin and blockchain so after Japan now Germany is on forefront
These is a Welcoming news to all the Bitcoin followers, investors, traders, and potential investors etc.etc. If this German Bank able to make a stand to accept Bitcoin as a legitimate digital transaction i have no wonder, some other Bank will follow the lead of the German Bank on this ventures. the global acceptance of crypto is really unstoppable globally, Bitcoin is all over the news, any price of Bitcoin on the market expect the market analyst on TV broadcast media forum or on other market discussion link on the treed.
reading your articles and opinions from you I feel relieved and feel there is a wide gate to see the future more open to modern economic technology, see the country open to crypto I feel there is a great opportunity and at least step we have been studying and learning there is legality for the future and of course we are more comfortable in working, my opinion in the future will be more and more countries in the world that opens wide on the progress of crypto, keep the spirit and success for all of us
This can be considered the most excitement of their country's head. And it can also be fun for some other countries. If banks simply support investors, then we have more opportunities to grow. In the future bitcoin will make the community great value. 
reading your articles and opinions from you I feel relieved and feel there is a wide gate to see the future more open to modern economic technology, see the country open to crypto I feel there is a great opportunity and at least step we have been studying and learning there is legality for the future and of course we are more comfortable in working, my opinion in the future will be more and more countries in the world that opens wide on the progress of crypto, keep the spirit and success for all of us
btc will be grow in the second year to 
Bitcoin has a lot more advantages if you're talking about global loans.
You're able to make substantial savings on time, making instant global loans something that can be achieved (I don't know if the online bank that is mentioned here is doing that, however) since bitcoin is instant, and a huge advantage compared to the slow money transfer process that happens with the traditional banks. You're also saving on fees for exchanging forex as a business.
However, if it's just locally within Germany or any other country, I doubt that there would be that much of a niche market that has a demand for bitcoin payments to make it work. As I said, I am not sure exactly what the business model is for this particular bank, but there are definitely many scenarios where bitcoin can be useful to fund global loans.
You're able to make substantial savings on time, making instant global loans something that can be achieved (I don't know if the online bank that is mentioned here is doing that, however) since bitcoin is instant, and a huge advantage compared to the slow money transfer process that happens with the traditional banks. You're also saving on fees for exchanging forex as a business.
However, if it's just locally within Germany or any other country, I doubt that there would be that much of a niche market that has a demand for bitcoin payments to make it work. As I said, I am not sure exactly what the business model is for this particular bank, but there are definitely many scenarios where bitcoin can be useful to fund global loans.
BTC is legal in Germany, and Bitbond Bank's use of BTC to transfer money will attract more customers to use their online transfer system!
This is a bold innovation. The combination of BTC and the banking system has greatly simplified the transfer costs!
This is a bold innovation. The combination of BTC and the banking system has greatly simplified the transfer costs!
This is the first time the bank has used BTC to transfer money!
The advantages of fast BTC transfer speed and low transfer cost are reasonably utilized by the bank!
More Banks will use BTC to transfer money in the future!
The advantages of fast BTC transfer speed and low transfer cost are reasonably utilized by the bank!
More Banks will use BTC to transfer money in the future!
I would rather see bitcoin being used by online banks than ripple, you don't need lightning fast transactions for loans. Alternatively, there is an altcoin called SURETLY which specialises in P2P loans. Great price on hitBTC now.
Amazing! This and still people keep crying that why crypto currency and government is not having good relations. And they keep panicking whether bitcoin will exist tomorrow or not!
Lolz. Your post really made me think about the whole concept one more time. I mean with the increasing demand all the government will have to get their hands on the crypto currencies and they will surely use for such banking methods.
Today this is the great example that stuff like loan can be working model and so as to rest of the transactions too. Great share mate!
Lolz. Your post really made me think about the whole concept one more time. I mean with the increasing demand all the government will have to get their hands on the crypto currencies and they will surely use for such banking methods.
Today this is the great example that stuff like loan can be working model and so as to rest of the transactions too. Great share mate!
germany bank is using bitcoin for remittances and they are designing crypto specific coins in the market Germany is becoming the example for the crypto world
if a bank that receives a bitcoin transaction is good news, at least in one bank it has many branches that can be utilized for bitcoin transactions. soon another bank will follow.
Sounds great to hear and by reading the article it kinda makes me feel sad i guess. Since in our country our banks are not that very supportive in the idea of crypto currency, but deep down inside each one of us are hoping that someday the banks will probably accept this kind of transactions and will be sure in handy, to think that this will really boom the usage and popularity of bitcoin including the benefits of one's user that may get.
The German bank is seeing a vision where most of the banks are still in death lock towards bitcoin the future of money transfer through bitcoin and blockchain so after Japan now Germany is on forefront
The reason why some banks are looking at using blockchain technology because of the transfer fee and faster transaction. It is good that the German bank is using bitcoin as it utilized it as a currency instead of an asset. I hope that other banks would consider this option as this would benefit many people and companies. There is no problem with the fluctuation of price as they immediately convert it to its fiat value. However, I would assume that the banks would plan to benefit from the cryptocurrencies by creating their own so that they can still control its flow.
It is very feasible if borrowing in the field of cryptocurrency is facilitated by the Government. Because it also supports the country's economy and people's welfare in the country
German being one among the top player in the world in terms of technology making use of bitcoin within the bank transactions will truly attract more people towards bitcoin. Another thing this will be kept as a reference, and more banking network might adopt bitcoin into their business.
How are they processing the collateral? In terms of fiat or bitcoin? I am not sure if bitcoin is the right crypto for collateral. There are a few stable cryptos which would be helpful for collateral,as their volatility won't affect anything (I am not talking about tether,chill). But nevertheless,this is great. Colleges are accepting bitcoin,hotels are and now banks. Only thing,not everyone is rich enough or is in the min to use their bitcoin for these purposes,they see bitcoin as an asset ( a fictitious intangible non-current asset) and not as a currency.
Quote
BERLIN (Reuters) - German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin.
Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,” Albrecht told Reuters TV in his office in Berlin’s fashionable neighborhood Prenzlauer Berg. “With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”
Clients hold the loans in digital tokens like Bitcoin only for seconds or minutes until they are exchanged back into the currency of the country where they wish to receive the funds, avoiding the crypto currencies fluctuating exchange rates.
Bitcoin has been used as collateral for loans, but never as a way of transferring credit in currency internationally.
Albrecht’s service has been growing in popularity among clients since he launched the company in 2013. His office employs 24 people from 12 countries who manage loans for 100 clients amounting to around $1 million each month.
Most clients are small business owners or freelance workers, Albrecht says. Loans are relatively small and don’t exceed 50,000 dollars. In 2016, Bitbond was officially licensed as a bank and has gained many investors since.
Adoption of Bitcoin has been rapid in Germany. It trails only the U.S., according to Bitnodes, which tracks the location of all the Bitcoin nodes that transmit data about new transactions.
https://www.reuters.com/article/us-germany-bitcoin/german-online-bank-uses-bitcoins-to-transfer-loans-idUSKBN1ID07Y
Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,” Albrecht told Reuters TV in his office in Berlin’s fashionable neighborhood Prenzlauer Berg. “With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”
Clients hold the loans in digital tokens like Bitcoin only for seconds or minutes until they are exchanged back into the currency of the country where they wish to receive the funds, avoiding the crypto currencies fluctuating exchange rates.
Bitcoin has been used as collateral for loans, but never as a way of transferring credit in currency internationally.
Albrecht’s service has been growing in popularity among clients since he launched the company in 2013. His office employs 24 people from 12 countries who manage loans for 100 clients amounting to around $1 million each month.
Most clients are small business owners or freelance workers, Albrecht says. Loans are relatively small and don’t exceed 50,000 dollars. In 2016, Bitbond was officially licensed as a bank and has gained many investors since.
Adoption of Bitcoin has been rapid in Germany. It trails only the U.S., according to Bitnodes, which tracks the location of all the Bitcoin nodes that transmit data about new transactions.
https://www.reuters.com/article/us-germany-bitcoin/german-online-bank-uses-bitcoins-to-transfer-loans-idUSKBN1ID07Y
One area bitcoin hasn't enjoyed much utilization is in loan markets. Many bitcoin loan based start ups had difficulties with lack of support in terms of collateral, background checks, creditchex and similar systems utilized by banks to streamline the loan process and make them more reliable. Looks like this small german bank has stepped in to fill the vacuum and it appears to be enjoying success.
Hopefully this will be an indication of future progress with crypto based loans and we'll see other start ups embrace this trend by offering greater support for this. It is possible their loan process carries a lot of scrutiny and it may be doubtful that crypto based loans will ever rival fiat loans in terms of convenience, rapid deployment or ease of use. As crypto loans become more prevalent we could see better frameworks and solutions to issues which have plagued the industry in the past and so perhaps this is a sign progress will be made.
I think that bitcoin loans make sense if it's cross border. If it's domestic, then it's more likely that fiat loans will still be used as long as the fiat banking system is still in existence, because it's just easier to sort out collateral, and the agreements f2f right now.
But the benefits of using bitcoin in funding international loans are obvious.
People with their economy in a state of collapse can get a loan this way from an online bank, using bitcoin as currency, if they are not able to get what they want from their banks. Plus, there is minimal fees and spreads compared foreign currency exchange, and settles instantly. The opportunities are really for the new companies to dig out right now.
I'm more surprised Bitbond was licensed as a bank lol. All the while I was reading the article, I was asking myself "How is this a bank?" But yeah, I suppose there are many different kinds with differing requirements depending on where you are.
Either way, I'm not surprised at all. Convenient cross-border transfers has always been one of Bitcoin's strongest use-cases, so it was only a matter of time until someone started something like this. Bitbond has already proven that it works, so I'd like to think it's also only a matter of time before the rest of the world follows. I hope they grow bigger and more successful.
Either way, I'm not surprised at all. Convenient cross-border transfers has always been one of Bitcoin's strongest use-cases, so it was only a matter of time until someone started something like this. Bitbond has already proven that it works, so I'd like to think it's also only a matter of time before the rest of the world follows. I hope they grow bigger and more successful.
I'm more amazed they are still around, they are no better than BTCJAM, and those
If I remember correctly one of the biggest default was around 10 000$, might be wrong because of the BTC/$ , and the guy was just trolling everybody showing that all the papers were fake..
It is good news, and it is proving that many banks are accepting Bitcoin around the world and used for payment and exchange transactions. You can imagine it being bought and sold continuously thanks to the big banks, which will help Bitcoin price go up very fast.
Great news, now in order to invest in bitcoin on the exchange, it is enough to take a Bank loan. And if the price falls, you can tell the Bank that there was a force majeure.
Other than that, these lending platforms eventually all seem to be doomed. I can't name up one lending platform that hasn't been hijacked by scammers, so I hope that Bitbond can be an exception here, but I'm not optimistic.
The difference in this case, which is a very important one, is that this isn't just one of the many services we have had in the same segment, but a professional financial service with all proper registrations and licenses. It's obviously not a guarantee that it won't become a scam circus later on, but due to regulatory pressure BitBond has to cut through all that nonsense and severely punish abusers.
What I like about this is that we have a whole ecosystem popping up working around Bitcoin, and that's exactly the utility value we want Bitcoin to have. Remember, this is just the beginning of everything, so there is plenty of more that we will be seeing in the forthcoming years. Bitcoin's network is by far the strongest and most secure network allowing these transactions to be conducted in the best possible way. Everything that contributes to Bitcoin's ecosystem and utility is more than welcome.
I'm more surprised Bitbond was licensed as a bank lol. All the while I was reading the article, I was asking myself "How is this a bank?" But yeah, I suppose there are many different kinds with differing requirements depending on where you are.
Either way, I'm not surprised at all. Convenient cross-border transfers has always been one of Bitcoin's strongest use-cases, so it was only a matter of time until someone started something like this. Bitbond has already proven that it works, so I'd like to think it's also only a matter of time before the rest of the world follows. I hope they grow bigger and more successful.
Either way, I'm not surprised at all. Convenient cross-border transfers has always been one of Bitcoin's strongest use-cases, so it was only a matter of time until someone started something like this. Bitbond has already proven that it works, so I'd like to think it's also only a matter of time before the rest of the world follows. I hope they grow bigger and more successful.
That is a good news. The more people using crypto currencies for their daily lives, the more people will demand for more crypto currency. The higher the demand the higher the price. This is a lesson for all of us, more and more people are being aware of crypto currencies now so we should hold on to our coins all the more.
This is the best news I've seen today. If a big country like Germany legitimize the special currency, it will play an exemplary role in the region and even in Europe as a whole. It is believed that banks in many European countries will soon be promoted, which is very beneficial to the development of the encrypted community.
if country not regulate bitcoin can big problem use bitcoin
No regulations means Bitcoin users enjoy more freedom, which is always good, so it's definitely not a problem at all. I would say that more regulations are the main problem rather than there not being any regulations.Germany has proven to be quite friendly towards crypto developments, which is why its regulations don't form that much of an obstacle. China's regulations however show the different (negative) side of them.
Other than that, these lending platforms eventually all seem to be doomed. I can't name up one lending platform that hasn't been hijacked by scammers, so I hope that Bitbond can be an exception here, but I'm not optimistic.
This is a good news for cryptos ; and many banks around the world will follow soon.
Banks and Bitcoin will go hand in hand in future I feel
Banks and Bitcoin will go hand in hand in future I feel
because in german bitcoin is already regulate
if country not regulate bitcoin can big problem use bitcoin
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.it's amazing, because a big country like Germany uses the crypto for transactional tools, we should support it, and hopefully in other countries it has the resolve as did Germany to move forward and grow.
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.
This is a good news for cryptos ; and many banks around the world will follow soon.
Banks and Bitcoin will go hand in hand in future I feel
Banks and Bitcoin will go hand in hand in future I feel
This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!
Quote
BERLIN (Reuters) - German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin.
Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,” Albrecht told Reuters TV in his office in Berlin’s fashionable neighborhood Prenzlauer Berg. “With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”
Clients hold the loans in digital tokens like Bitcoin only for seconds or minutes until they are exchanged back into the currency of the country where they wish to receive the funds, avoiding the crypto currencies fluctuating exchange rates.
Bitcoin has been used as collateral for loans, but never as a way of transferring credit in currency internationally.
Albrecht’s service has been growing in popularity among clients since he launched the company in 2013. His office employs 24 people from 12 countries who manage loans for 100 clients amounting to around $1 million each month.
Most clients are small business owners or freelance workers, Albrecht says. Loans are relatively small and don’t exceed 50,000 dollars. In 2016, Bitbond was officially licensed as a bank and has gained many investors since.
Adoption of Bitcoin has been rapid in Germany. It trails only the U.S., according to Bitnodes, which tracks the location of all the Bitcoin nodes that transmit data about new transactions.
https://www.reuters.com/article/us-germany-bitcoin/german-online-bank-uses-bitcoins-to-transfer-loans-idUSKBN1ID07Y
Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost.
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,” Albrecht told Reuters TV in his office in Berlin’s fashionable neighborhood Prenzlauer Berg. “With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”
Clients hold the loans in digital tokens like Bitcoin only for seconds or minutes until they are exchanged back into the currency of the country where they wish to receive the funds, avoiding the crypto currencies fluctuating exchange rates.
Bitcoin has been used as collateral for loans, but never as a way of transferring credit in currency internationally.
Albrecht’s service has been growing in popularity among clients since he launched the company in 2013. His office employs 24 people from 12 countries who manage loans for 100 clients amounting to around $1 million each month.
Most clients are small business owners or freelance workers, Albrecht says. Loans are relatively small and don’t exceed 50,000 dollars. In 2016, Bitbond was officially licensed as a bank and has gained many investors since.
Adoption of Bitcoin has been rapid in Germany. It trails only the U.S., according to Bitnodes, which tracks the location of all the Bitcoin nodes that transmit data about new transactions.
https://www.reuters.com/article/us-germany-bitcoin/german-online-bank-uses-bitcoins-to-transfer-loans-idUSKBN1ID07Y
One area bitcoin hasn't enjoyed much utilization is in loan markets. Many bitcoin loan based start ups had difficulties with lack of support in terms of collateral, background checks, creditchex and similar systems utilized by banks to streamline the loan process and make them more reliable. Looks like this small german bank has stepped in to fill the vacuum and it appears to be enjoying success.
Hopefully this will be an indication of future progress with crypto based loans and we'll see other start ups embrace this trend by offering greater support for this. It is possible their loan process carries a lot of scrutiny and it may be doubtful that crypto based loans will ever rival fiat loans in terms of convenience, rapid deployment or ease of use. As crypto loans become more prevalent we could see better frameworks and solutions to issues which have plagued the industry in the past and so perhaps this is a sign progress will be made.
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