I found a bitcoin bank but want to check its validity.

lissandra

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Quote from: Straux on March 25, 2016, 09:43:52 PM

You don't need a bitcoin bank. To be honest, if you use a cold wallet or a trezor/Ledger wallet, it will be as safe as a bank.

Invest in bitmixer.io if you have the funds

This is probably the best advice.

Most people miss it too, since on their homepage its overlooked. They are always looking for investors.. so yeah better that then a new site.

But know their starting minimum is 100 btc.

Straux

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You don't need a bitcoin bank. To be honest, if you use a cold wallet or a trezor/Ledger wallet, it will be as safe as a bank.

Invest in bitmixer.io if you have the funds

RealPhotoshoper

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Quote from: sase007 on February 17, 2016, 08:31:42 PM

I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.

I want to know of only people who have used it or can offer advice on its validity.

look like nice and great site,but i dont think if they offer 12% interest on annual fixed amounts,then they will long life,maybe sometime the offers going down. i just suggest you to beware and keep deposite with small amount.

alyssa85

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12% interest falls into the Too Good To Be True category.

In order for someone to pay you interest, they need to be able to generate that money. Does their website say how they do it?

ashkanb

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i did some digging on them a few months ago but i don't remember much details.

all i remember is that bitbank, jua and bw.com are all affiliates of the CHBTC.com a big chinese exchange.
i have no clue to how safe and reliable they are but i've been keeping a bit of coins at my bw.com wallet which gives penny worth of interest daily.
it seems to be ok but its not worth the risk;
for a while now i've been considering moving what i have on bw to poloniex and lend it, just haven't had the time to look into it;

gentlemand

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Quote from: craked5 on February 23, 2016, 12:05:52 PM

Well the only fair and reliable bank here are the trading plateform with a margin funding service :p

Coinbase, Gemini and Itbit are the only exchanges as far as I know that insure your coins if they're hacked at their end. Funnily enough none of the margin sites are.

They do have an incentive not to disappear with your coins but hacks happens and you'll be relying on their goodwill and profitability to get them back. They're not risk free.

craked5

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Quote from: tiggytomb on February 23, 2016, 08:52:10 AM

Stay away, just like many other sites offering interest on your bitcoin they simply cannot do it and will at some point fold up and run away with your hard earned BTC

Well the only fair and reliable bank here are the trading plateform with a margin funding service :p

tiggytomb

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Stay away, just like many other sites offering interest on your bitcoin they simply cannot do it and will at some point fold up and run away with your hard earned BTC

Haswell

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Quote from: DropsOfJupiter on February 23, 2016, 04:59:29 AM

Quote from: sase007 on February 17, 2016, 08:31:42 PM

I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.

I want to know of only people who have used it or can offer advice on its validity.

The website is registered by a Chinese company based in Guang Dong, China.
Bank of China prohibits any banking or financial institutions from providing any Bitcoin related services. So to answer your question, this appears illegitimate.

There is no regulated bitcoin "bank" in the world. A bank has to be insured. If an entity calls it a bank, it is a scam.

craked5

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Quote from: mtnsaa on February 22, 2016, 06:52:28 PM

Dude, that's a complete scam and every other site like that it's a sure way to lose money, sooner or later, I would say sooner. If you want to get some interest out of your BTC stash I suggest lending it on Poloniex. I know having money on exchanges is not advisable but daily traders have to do it all the time. They are very reliable but I know, all exchanges are reliable until they are not.

Do you earn a decent amount with poloniex lending?

DropsOfJupiter

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Quote from: sase007 on February 17, 2016, 08:31:42 PM

I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.

I want to know of only people who have used it or can offer advice on its validity.

The website is registered by a Chinese company based in Guang Dong, China.
Bank of China prohibits any banking or financial institutions from providing any Bitcoin related services. So to answer your question, this appears illegitimate.

mtnsaa

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Dude, that's a complete scam and every other site like that it's a sure way to lose money, sooner or later, I would say sooner. If you want to get some interest out of your BTC stash I suggest lending it on Poloniex. I know having money on exchanges is not advisable but daily traders have to do it all the time. They are very reliable but I know, all exchanges are reliable until they are not.

gentlemand

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Welt Am Draht

Quote from: gregyoung14 on February 19, 2016, 08:38:14 AM

Really am tempted now to signup. Thanks for the note btw. Bitcoin banks are not needed, not now atleast.

So bitcoin banks aren't needed, but blatant ponzis are.

Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiggggggggggg ggggggggggggggggggghhhhhhhhhhhhhhhhhhhhttttttttttttttttttttt.

redsn0w

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#Free market

Quote from: craked5 on February 21, 2016, 08:30:15 PM

Quote from: redsn0w on February 21, 2016, 02:05:29 PM

This sticker is worth more than thousand of words :

Bitcoin bank Grin

?

What? Do you think it's stupid because btc was invented with the main purpose of no longer needing unreliable third party that keep sucking your possession while using your own money to grow their capital? Well, maybe :3

Yeah, exactly.... I don't need a bank when I have/own bitcoin Wink

.

craked5

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Quote from: redsn0w on February 21, 2016, 02:05:29 PM

This sticker is worth more than thousand of words :

Bitcoin bank Grin

?

What? Do you think it's stupid because btc was invented with the main purpose of no longer needing unreliable third party that keep sucking your possession while using your own money to grow their capital? Well, maybe :3

Supercrypt

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Quote from: EdenHazard on February 21, 2016, 09:40:22 AM

Quote from: sase007 on February 17, 2016, 08:31:42 PM

I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.

I want to know of only people who have used it or can offer advice on its validity.

its just a website,not like konvenstional banks,take a risk to invest on untrusted site is not my choice,need more than 2 years experience to make sure i'm invest in good and legit site.

Even if the website is working for 2 years, how can trust it to invest your money? Through online reviews? Online reviews are mainly fake and even images, proofs can be easily faked. It took me a long time to trust even PayPal when it's recognized by my bank and hence I would trust a bitcoin bank when bitcoins aren't themselves recognized.

redsn0w

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#Free market

This sticker is worth more than thousand of words :

Bitcoin bank Grin

?

elloco4ever

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Quote from: EdenHazard on February 21, 2016, 09:40:22 AM

Quote from: sase007 on February 17, 2016, 08:31:42 PM

I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.

I want to know of only people who have used it or can offer advice on its validity.

its just a website,not like konvenstional banks,take a risk to invest on untrusted site is not my choice,need more than 2 years experience to make sure i'm invest in good and legit site.

Yes dont take risk and make sure you dont invest on any untrusted entities and there are hell lot of scammers

erikalui

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Ponzi website. Nobody will offer 12% interest as that's an amount banks cannot afford and mostly HYIPs offer such a rate to get more customers. I wouldn't trust any online bank for my money (not even payment processors) and keep my money for a year. Had a bad experience with LR already.

EdenHazard

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Quote from: sase007 on February 17, 2016, 08:31:42 PM

I found a site bitbank.com while fiddling with domain names through boardom. It offers 12% interest on annual fixed amounts or 0.02% daily. Is this site a scam or leitimate.

I want to know of only people who have used it or can offer advice on its validity.

its just a website,not like konvenstional banks,take a risk to invest on untrusted site is not my choice,need more than 2 years experience to make sure i'm invest in good and legit site.

Topic: I found a bitcoin bank but want to check its validity. (Read 2174 times)