Topic: Italian Bank offers Bitcoin Wallet Integration in their Online Platform. (Read 296 times)
March 31, 2020, 08:40:55 AM
It is very interesting that the integration of bitcoin into the banking sector occurs at a time when many markets are closed due to coronavirus. This is very good news when we read about the integration of bitcoin into the real sector. And those banks that will do this first will get an advantage over the rest.
March 31, 2020, 04:20:49 AM
In this trying times Bitcoin should be most convenient to use given the fact that it doesn't require physical transaction and could possibly one of the reasons of transferring of infectious diseases and with the worsening of the economy people and the government should protect their citizens wealth in case the pandemic disease takes time to get solve.
Bitcoin is one of the choice but sadly, using bitcoin in everyday transaction is so hassle, it's transaction speed is so slow! and the fee Is quite not practical for micro-transaction. 
March 31, 2020, 03:18:08 AM
In this trying times Bitcoin should be most convenient to use given the fact that it doesn't require physical transaction and could possibly one of the reasons of transferring of infectious diseases and with the worsening of the economy people and the government should protect their citizens wealth in case the pandemic disease takes time to get solve.
Bitcoin is one of the choice but sadly, using bitcoin in everyday transaction is so hassle, it's transaction speed is so slow! and the fee Is quite not practical for micro-transaction. Using bitcoin for large transaction is okay but for canned transaction t's not. using cryptocurrency might not be usable for normal people in their everyday life so still, in this pandemic people are still using fiat considering that t's not hassle. Sadly, people want fast transaction and that's it. 
March 30, 2020, 08:37:39 AM
In this trying times Bitcoin should be most convenient to use given the fact that it doesn't require physical transaction and could possibly one of the reasons of transferring of infectious diseases and with the worsening of the economy people and the government should protect their citizens wealth in case the pandemic disease takes time to get solve.
March 30, 2020, 08:00:22 AM
A little bit of update on the supported functions.
For the moment you cannot RECEIVE bitcoin on your Hype ACCOUNT, but you can only send to BTC addresses.
I guess this has to do with KYC/AML regulations.
This function is going to be implemented in the coming months.
Very curious on how this will be implemented, and which practices will they be using.
Will they pass the Giacomo Zucco's acid test?
A Treatise On Bitcoin And Privacy Part 1: A Match Made In The Whitepaper
For the moment you cannot RECEIVE bitcoin on your Hype ACCOUNT, but you can only send to BTC addresses.
I guess this has to do with KYC/AML regulations.
This function is going to be implemented in the coming months.
Very curious on how this will be implemented, and which practices will they be using.
Will they pass the Giacomo Zucco's acid test?
A Treatise On Bitcoin And Privacy Part 1: A Match Made In The Whitepaper
March 21, 2020, 11:33:03 PM
It will be interesting to see if they start feeling any pressure from other banks due to FATF travel rule which is supposed to apply to cryptocurrency transactions too, that would spell the end transferring bitcoins without limitations through banks like these.
FATF recommendations come down to ensuring that the user is identified if the transaction amount exceeds one thousand euros. In my opinion, in this case, each user of the services offered is a client of the bank and the bank has enough data to identify its customers. Therefore, there is no need for any additional restrictions. The beginning is very interesting. I hope that banks will soon switch to services in other types of cryptocurrencies, since payments in bitcoins are not always convenient due to the high cost of the transaction.Yeah but what if the user sends the bitcoins to some address belonging to someone who's not a customer at this bank?
I hope they won't be pressured to introduce restrictions where the user can transfer their bitcoins.
March 21, 2020, 04:37:03 AM
We've always needed serious stuff, not vapourware stuff that won't materialize, not promises that bitcoin will do that and that and save humankind or anything else.
[...]
What we need is [...] easy ways to buy stuff with BTC, easy ways to buy BTC to send and store,
[...]
Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!
I dare to say that THIS is exactly what I think as an easy way to buy and use your coins.
What is better than a complete integration of Bitcoin in your mobile banking app?
@stompix I’ll second that as bitcoin is a currency and it should be used like a currency, and I believe that the EU shall try and implement this once the virus starts to slow down.
Holy hellening! THis is amazing news! Who would have thought, that in midst of a globally spread pandemic, something like this would happen. This might genuinely help the people in Italy who are having issues with sending or receiving money.
And please, please try to make this global, oh what I would do to trade, and exchange bitcoin within my bank account itself. oh.
And please, please try to make this global, oh what I would do to trade, and exchange bitcoin within my bank account itself. oh.
@pugman indeed this news is like finding a pool of water in the sand, considering we’re only hearing bad news constantly from Italy and I too would love to use an app where my banking and bitcoin wallet is integrated.
March 21, 2020, 03:49:43 AM
First important news: these are real bitcoins
I'm truly impressed! It's quite a leap from what banks were telling about Bitcoin some years ago.
I don't know how big the fees are, but I think that's worth it for many (which don't know what Binance, Bitstamp, Coinbase are).
We've always needed serious stuff, not vapourware stuff that won't materialize, not promises that bitcoin will do that and that and save humankind or anything else.
[...]
What we need is [...] easy ways to buy stuff with BTC, easy ways to buy BTC to send and store,
[...]
Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!
I dare to say that THIS is exactly what I think as an easy way to buy and use your coins. [...]
What we need is [...] easy ways to buy stuff with BTC, easy ways to buy BTC to send and store,
[...]
Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!
What is better than a complete integration of Bitcoin in your mobile banking app?
Indeed. Well said, both of you.
March 21, 2020, 03:34:56 AM
I just like how the bank looks like, it’s just very simple and the design isn’t clustered like most bank apps you will see, just a minimum design and cool at the same time. 1.2 millions clients is not a small number, at least half of those that are using that app that are not into cryptocurrency would develop interest as time goes on and they will try to purchase and see how it works.
Also, maybe when they try it out for the first time they will start gaining interest in it. This is still new, if the government should approve the bigger banks, they might start integrating Bitcoin wallets and offering the services as well. New German law that was passed around February was said to allow such.
Also, maybe when they try it out for the first time they will start gaining interest in it. This is still new, if the government should approve the bigger banks, they might start integrating Bitcoin wallets and offering the services as well. New German law that was passed around February was said to allow such.
March 21, 2020, 02:45:31 AM
It will be interesting to see if they start feeling any pressure from other banks due to FATF travel rule which is supposed to apply to cryptocurrency transactions too, that would spell the end transferring bitcoins without limitations through banks like these.
FATF recommendations come down to ensuring that the user is identified if the transaction amount exceeds one thousand euros. In my opinion, in this case, each user of the services offered is a client of the bank and the bank has enough data to identify its customers. Therefore, there is no need for any additional restrictions. The beginning is very interesting. I hope that banks will soon switch to services in other types of cryptocurrencies, since payments in bitcoins are not always convenient due to the high cost of the transaction. 
March 20, 2020, 11:25:50 PM
Another milesrone for cryptocurrency industry, I hope that when this pandemic is over we can further innovate this application. This is a very good start-up for people to trust the efficiency of cryptocurrency.
March 20, 2020, 05:54:10 PM
Holy hellening! THis is amazing news! Who would have thought, that in midst of a globally spread pandemic, something like this would happen. This might genuinely help the people in Italy who are having issues with sending or receiving money.
Thank you @vincenzo, thank you for bringing in change in this time of need. If I may suggest, try gamifying the whole experience, as in run some sort of an Online giveaway, or drop in some amount of bitcoin to your Hype users, it will be really helpful for the people in need, and will also help you gain some 'traction.
And please, please try to make this global, oh what I would do to trade, and exchange bitcoin within my bank account itself. oh.
Thank you @vincenzo, thank you for bringing in change in this time of need. If I may suggest, try gamifying the whole experience, as in run some sort of an Online giveaway, or drop in some amount of bitcoin to your Hype users, it will be really helpful for the people in need, and will also help you gain some 'traction.
And please, please try to make this global, oh what I would do to trade, and exchange bitcoin within my bank account itself. oh.
March 20, 2020, 05:08:39 PM
We've always needed serious stuff, not vapourware stuff that won't materialize, not promises that bitcoin will do that and that and save humankind or anything else.
[...]
What we need is [...] easy ways to buy stuff with BTC, easy ways to buy BTC to send and store,
[...]
Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!
I dare to say that THIS is exactly what I think as an easy way to buy and use your coins.
What is better than a complete integration of Bitcoin in your mobile banking app?
March 20, 2020, 04:09:36 PM
~
Unfortunately I have to agree with you on this.
We just gave seamless and true access to Bitcoin to over 1 Million people in Italy, and I believe we just wrote a piece of crypto History. Still, the news went almost unnoticed.
Well, who cares. I'm ecstatic that we're moving forward in the right direction, and helping to spread mass adoption of cryptocurrencies.
Yeah, after all, who cares!!!!
I'm well passed the stage where I think the hype is good for anything else than a small bump in price.
We've always needed serious stuff, not vapourware stuff that won't materialize, not promises that bitcoin will do that and that and save humankind or anything else.
What we need is not thousands of tweets but real-world usage, easy ways to buy stuff with BTC, easy ways to buy BTC to send and store, real growth based on usage and accessibility. Without this, we won't be living long on empty promises and hype.
Anyhow, congratulations on achieving this, I hope the rest of the EU block follows!!!
March 20, 2020, 02:33:49 PM
Corporate Banks are the ones who produce the majority of finance. If their business is gone, economic problems may persist, I guess.
Corporate banks are those called commercial banks. These banks are those really assigned to assist the people interns of servicing and loans. They are between the government and the people. Over the world therefore, the government do support them to be alive because of their role and so, the Italian government won't allow them to be isolated from their role whether in fiat or digital business.
March 20, 2020, 01:59:28 PM
There goes my question on how would it be possible for the the technically-challenged people to utilize bitcoin in times of need in Italy. Though it may have sprouted on the toughest of times, it still is a great help and a move towards the right direction which is a way most traditional banks are scared to take. I just hope that the Italian government would not take this as a challenge against the traditional banking industry but rather see it as a different avenue and a novel approach in banking and finance.
With regards to the security, I'm sure this is well thought out, and that the wallet provider will be held liable should hacks arise and target the wallets. If that's the case, it should eliminate a layer of doubt about the saying 'not your keys, not your coin' which is still relevant to remembwr these days.
With regards to the security, I'm sure this is well thought out, and that the wallet provider will be held liable should hacks arise and target the wallets. If that's the case, it should eliminate a layer of doubt about the saying 'not your keys, not your coin' which is still relevant to remembwr these days.
March 20, 2020, 01:41:42 PM
Really good news for those who want to buy BTC in a very simple way without having to have any technical knowledge, because I assume the whole technical matter/security of the wallet is the responsibility of the bank. Does this mean that the user does not really have any control over his private keys, nor can he make a personal backup? As I said, the idea is not bad at all, on the contrary, but some do not look favorably on such a combination of banks and crypto, if we take into account our famous saying "not your private keys, not your coins".
I understand what you say. As @fillippone mentioned, I invite you to read the 3-series posts of the Conio custody solution, which where I extensively speak about our architecture and the reasons behind it:
Custody at Conio — part 1: https://medium.com/conio/custody-at-conio-part-1-ddbe81a106ce
Custody at Conio — part 2: https://medium.com/conio/custody-at-conio-part-2-21e976f86384
Custody at Conio — part 3: https://medium.com/conio/custody-at-conio-part-3-623292bc9222
Part 1 addresses our multi-signature approach, which has now also in the integration with Hype.
March 20, 2020, 01:31:35 PM
We made the official announcement yesterday.
Here's an article by Decrypt: https://decrypt.co/23034/italian-bank-releases-bitcoin-wallet-despite-coronavirus
Unfortunately I have to agree with you on this.
We just gave seamless and true access to Bitcoin to over 1 Million people in Italy, and I believe we just wrote a piece of crypto History. Still, the news went almost unnoticed.
Well, who cares. I'm ecstatic that we're moving forward in the right direction, and helping to spread mass adoption of cryptocurrencies.
Here's an article by Decrypt: https://decrypt.co/23034/italian-bank-releases-bitcoin-wallet-despite-coronavirus
Well, this is one of the things that pisses me off every damn time.
As a fellow European, I'm amazed at how people tend to ignore things that happen in largest economic zone or in the 4th, 5th, 7th and 8th country by GDP
As a fellow European, I'm amazed at how people tend to ignore things that happen in largest economic zone or in the 4th, 5th, 7th and 8th country by GDP
Unfortunately I have to agree with you on this.
We just gave seamless and true access to Bitcoin to over 1 Million people in Italy, and I believe we just wrote a piece of crypto History. Still, the news went almost unnoticed.
Well, who cares. I'm ecstatic that we're moving forward in the right direction, and helping to spread mass adoption of cryptocurrencies.
March 20, 2020, 08:51:01 AM
I believe this is the very first time that a bank (especially a retail one) offers such a service to their customers.
Unfortunately it's only in Italy for now, but it paves the road for integration of crypto services in other banks worldwide.
The Italy is suffering and people above 80 are left to die , the world is getting worse because many countries are hiding the cases with Corona Virus because they don't want the people to panic and the other countries make fun of them . Unfortunately it's only in Italy for now, but it paves the road for integration of crypto services in other banks worldwide.
So Italy needs all the help they can get . Bitcoins are doing what they can for the people and banks have come to realize this . I think all countries should do that one way or the other so that they will be able to give people more power and they don't have to rush to the banks anymore.
March 20, 2020, 08:22:49 AM
IMO, I'm afraid the Italian Government would notice this disruption. Unless the founders behind the start-up bank are powerful enough to control the government. Doing these kinds of moves are scary for traditional banks. Their businesses are being disrupted big time by cryptocurrency.
Corporate Banks are the ones who produce the majority of finance. If their business is gone, economic problems may persist, I guess.
Corporate Banks are the ones who produce the majority of finance. If their business is gone, economic problems may persist, I guess.
Jump to: