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

lissandra

sr. member

Activity: 434

Merit: 250

Quote from: Straux on March 25, 2016, 08:43:52 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

sr. member

Activity: 412

Merit: 251

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

legendary

Activity: 1050

Merit: 1001

Quote from: sase007 on February 17, 2016, 07:31:42 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

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

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

full member

Activity: 222

Merit: 100

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

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: craked5 on February 23, 2016, 11:05:52 AM

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

hero member

Activity: 840

Merit: 529

Quote from: tiggytomb on February 23, 2016, 07:52:10 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

legendary

Activity: 1848

Merit: 1000

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

full member

Activity: 137

Merit: 100

★YoBit.Net★ 350+ Coins Exchange & Dice

Quote from: DropsOfJupiter on February 23, 2016, 03:59:29 AM

Quote from: sase007 on February 17, 2016, 07:31:42 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

hero member

Activity: 840

Merit: 529

Quote from: mtnsaa on February 22, 2016, 05:52:28 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

member

Activity: 113

Merit: 10

Quote from: sase007 on February 17, 2016, 07:31:42 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

legendary

Activity: 1568

Merit: 1000

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

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: gregyoung14 on February 19, 2016, 07:38:14 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

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: craked5 on February 21, 2016, 07:30:15 PM

Quote from: redsn0w on February 21, 2016, 01:05:29 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

hero member

Activity: 840

Merit: 529

Quote from: redsn0w on February 21, 2016, 01:05:29 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

legendary

Activity: 1554

Merit: 1054

Quote from: EdenHazard on February 21, 2016, 08:40:22 AM

Quote from: sase007 on February 17, 2016, 07:31:42 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

legendary

Activity: 1778

Merit: 1043

#Free market

This sticker is worth more than thousand of words :

Bitcoin bank Grin

?

elloco4ever

sr. member

Activity: 623

Merit: 262

Quote from: EdenHazard on February 21, 2016, 08:40:22 AM

Quote from: sase007 on February 17, 2016, 07:31:42 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

legendary

Activity: 2632

Merit: 1094

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

legendary

Activity: 2674

Merit: 1048

Quote from: sase007 on February 17, 2016, 07:31:42 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.

gregyoung14

full member

Activity: 238

Merit: 100

Quote from: Lutzow on February 19, 2016, 07:24:31 AM

Quote from: ranochigo on February 19, 2016, 07:15:32 AM

Quote from: Kalamsid on February 19, 2016, 07:09:10 AM

Quote from: gentlemand on February 18, 2016, 09:47:04 PM

bitcoin + bank = scam pretty much without fail. Stick interest levels like that on top then it's in the goddamn bag.

For the time being, the "bitcoin banks" are not regulated, so they are mostly scams. In the future, we will have proper banks.

"Bitcoin Banks" are either a ponzi scheme or scam which is pretty much the same. Banks based on Bitcoins are very hard to regulate and it is hard for them to lend out without the extremely high chances of borrowers defaulting. This would only change if those banks are allowed to have secure loans. They would still not be called a bank, they would be called lenders.

Bitcoin itself is a bank, there is no need for a service to act as a bank.

Any bitcoin doubler can run a virtual bank and give you interest . Invest at your own risk, bitcoin bank is not needed for now.

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

Lutzow

hero member

Activity: 728

Merit: 500

Quote from: ranochigo on February 19, 2016, 07:15:32 AM

Quote from: Kalamsid on February 19, 2016, 07:09:10 AM

Quote from: gentlemand on February 18, 2016, 09:47:04 PM

bitcoin + bank = scam pretty much without fail. Stick interest levels like that on top then it's in the goddamn bag.

For the time being, the "bitcoin banks" are not regulated, so they are mostly scams. In the future, we will have proper banks.

"Bitcoin Banks" are either a ponzi scheme or scam which is pretty much the same. Banks based on Bitcoins are very hard to regulate and it is hard for them to lend out without the extremely high chances of borrowers defaulting. This would only change if those banks are allowed to have secure loans. They would still not be called a bank, they would be called lenders.

Bitcoin itself is a bank, there is no need for a service to act as a bank.

Any bitcoin doubler can run a virtual bank and give you interest . Invest at your own risk, bitcoin bank is not needed for now.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: Kalamsid on February 19, 2016, 07:09:10 AM

Quote from: gentlemand on February 18, 2016, 09:47:04 PM

bitcoin + bank = scam pretty much without fail. Stick interest levels like that on top then it's in the goddamn bag.

For the time being, the "bitcoin banks" are not regulated, so they are mostly scams. In the future, we will have proper banks.

"Bitcoin Banks" are either a ponzi scheme or scam which is pretty much the same. Banks based on Bitcoins are very hard to regulate and it is hard for them to lend out without the extremely high chances of borrowers defaulting. This would only change if those banks are allowed to have secure loans. They would still not be called a bank, they would be called lenders.

Bitcoin itself is a bank, there is no need for a service to act as a bank.

craked5

hero member

Activity: 840

Merit: 529

Quote from: Kalamsid on February 19, 2016, 07:09:10 AM

Quote from: gentlemand on February 18, 2016, 09:47:04 PM

bitcoin + bank = scam pretty much without fail. Stick interest levels like that on top then it's in the goddamn bag.

For the time being, the "bitcoin banks" are not regulated, so they are mostly scams. In the future, we will have proper banks.

BUT WHY??

Why do people want to have banks this much?? Why would you need it? Oo

Kalamsid

newbie

Activity: 66

Merit: 0

Quote from: gentlemand on February 18, 2016, 09:47:04 PM

bitcoin + bank = scam pretty much without fail. Stick interest levels like that on top then it's in the goddamn bag.

For the time being, the "bitcoin banks" are not regulated, so they are mostly scams. In the future, we will have proper banks.

craked5

hero member

Activity: 840

Merit: 529

Quote from: -XXIII- on February 18, 2016, 02:14:13 PM

I don't know if I would trust this. Is the "+220,000.00BTC" raised with "+51,000" investors information that should be publicly available? I don't know, but a company that started mid-2015 that raised over 90millionUSD without anyone knowing is a little suspicious to me.

Didn't see that xD

That's impossible. If that was the case that would have been known here already Wink

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

I think they're faking the stats mentioned on their website ,the collected and distributed amounts.If you look at their support and contacts section,they haven't registered themselves as a legal company to suffice the methods mentioned on the webpage.I'm not saying they're cheating or scamming people but they don't have a solid proof why we should trust them.For now I would ask you invest a small amount like very small and see they work,get to know how much they pay back based on your daily intrests .ask other investors on the same site of their experience.

ctlaltdefeat

sr. member

Activity: 464

Merit: 250

Quote from: mocacinno on February 18, 2016, 05:20:27 AM

https://bitcointalksearch.org/topic/chinese-bitcoin-site-jua-just-acquired-new-domain-name-bitbankcom-985419

Apperantly, it's rumored to be owned by JUA. I've heared mixed things about them.
Personally, i wouldn't use their service (to much risk of a scam/ponzi), but i guess in the end it's up to you.

I just checked the site, and see several features like interest that they offer reasonable enough, can't see any sign of scam there.
But well according to your thread that you mentioned above , i guess they are scam .
Very unfortunate their domain are really good but used for bad things .

Cyaren

sr. member

Activity: 294

Merit: 250

Most bitcoin banks are either not worth it for the hassle or ponzi schemes. I suggest you invest in P2P lending, much higher returns.

Herbert2020

legendary

Activity: 1946

Merit: 1137

even if it were not a total scam i would have suggested you to stay away from these type of services. because if they have not planned on scamming ahead, they will turn to scam sooner or later and you will be left without a satoshi and nowhere to go.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

bitcoin + bank = scam pretty much without fail. Stick interest levels like that on top then it's in the goddamn bag.

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

Most users has quoted the particular site to be a scam. So before getting into it be very cautious. I too personally have never come across such a site. Some one might enter into it searching for bitcoin as the words have close relation.

-XXIII-

member

Activity: 112

Merit: 10

I don't know if I would trust this. Is the "+220,000.00BTC" raised with "+51,000" investors information that should be publicly available? I don't know, but a company that started mid-2015 that raised over 90millionUSD without anyone knowing is a little suspicious to me.

HeroCat

hero member

Activity: 658

Merit: 500

It sounds like scam site, there are a lot of many BTC scam sites everywhere. It is very hard to say is it BTC site, which offer profit or scam. Wink

InceptionCoin

member

Activity: 108

Merit: 10

Quote from: Amph on February 18, 2016, 02:40:49 AM

it's not among these, but it can be one of those under different name https://bitcointalksearch.org/topic/edu-bitcoin-related-scam-websites-928263

so i would avoid it like the plague

Thank you, nice list.

Quote from: craked5 on February 18, 2016, 05:12:27 AM

It's a scam. I don't know what it is and I don't care, anything giving you out 12% of interest on btc is a scam.

Well Poloniex lending service with 70% atm and 20% average profit is not scam. I mean there are risks of insolvency, however you know the source of profits: traders, so at least its not a Ponzi scheme.
Bitfinex lending service is much safer(you even can see on which specificially BTCaddress your funds are, because they store it separately), but there much smaller rates: from 11% to 25% annually.

craked5

hero member

Activity: 840

Merit: 529

Quote from: twister on February 18, 2016, 05:28:07 AM

The question you have to ask yourself, can I trust this company to not do an exit scam when it has enough funds? The answer to that would be "No, you cannot", sending money to such sites is almost same as handing money to a stranger of which you know nothing about.

The question you have to ask to yourself is also "do i need a bank" and the answer is clearly no ^^

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: sase007 on February 17, 2016, 07:31:42 PM

It offers 12% interest on annual fixed amounts or 0.02% daily.

You may be able to get more than that with rather small effort on Poloniex lending area. And it feels more legit too.

twister

hero member

Activity: 672

Merit: 502

The question you have to ask yourself, can I trust this company to not do an exit scam when it has enough funds? The answer to that would be "No, you cannot", sending money to such sites is almost same as handing money to a stranger of which you know nothing about.

mocacinno

legendary

Activity: 3514

Merit: 5123

https://merel.mobi => buy facemasks with BTC/LTC

https://bitcointalksearch.org/topic/chinese-bitcoin-site-jua-just-acquired-new-domain-name-bitbankcom-985419

Apperantly, it's rumored to be owned by JUA. I've heared mixed things about them.
Personally, i wouldn't use their service (to much risk of a scam/ponzi), but i guess in the end it's up to you.

craked5

hero member

Activity: 840

Merit: 529

It's a scam. I don't know what it is and I don't care, anything giving you out 12% of interest on btc is a scam.

Amph

legendary

Activity: 3248

Merit: 1070

it's not among these, but it can be one of those under different name https://bitcointalksearch.org/topic/edu-bitcoin-related-scam-websites-928263

so i would avoid it like the plague

onepix

full member

Activity: 171

Merit: 100

I haven't used the site but it sounds like a scam, did they tell you how they plan to generate 12% annually?

sase007

sr. member

Activity: 364

Merit: 250

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.

Topic: I found a bitcoin bank but want to check its validity. (Read 2191 times)