Topic: Will banks ever offer bitcoin deposits? - page 10. (Read 6383 times)
Well i think that could be happen in the future. Banks sooner or later should be adapt with bitcoin [ hoping that if the government already legalized bitcoin in to the country ] pretty sure that will win solution for the bitcoin holder and the banks. But the chances of that to happen is very small. Since on observation there are still many against in bitcoin
Nature of bitcoin value is very much volatile. Some time it reached to the high price of $20000 but now hovering @ around 6k. So if the bank accepts it as deposit; what will be the base amount on which the bank will be offering interest. It is very difficult task.
There is another problem; suppose I go to the bank with one btc fixed deposit in December 2017 when the price was very high. Bank accepts it a fixed deposit but at the time of payment the price of btc falls to 6000. Then what will be the amount which the bank will be repaying.
though the solution to this may be ; the Bank pays interest on the average price of the bitcoin during the year. Also bank repays one btc for one btc.
There is another problem; suppose I go to the bank with one btc fixed deposit in December 2017 when the price was very high. Bank accepts it a fixed deposit but at the time of payment the price of btc falls to 6000. Then what will be the amount which the bank will be repaying.
though the solution to this may be ; the Bank pays interest on the average price of the bitcoin during the year. Also bank repays one btc for one btc.
Volatility is what kills Bitcoin, in my own opinion, since it cannot be used as a stable currency for payments. It's quite hard or nearly impossible for a Bank to simply offer Bitcoin deposits to its customers, since the risk is too high. They could easily lose a lot of money within a short time frame if Bitcoin prices fall, making this a bad idea for them.
Maybe, in the future, it could not be Bitcoin but instead a digital currency pegged to a stable fiat currency. Such digital currency could be Tether, DAI, or even Stronghold Dollars (Stellar/Lumens). They're ideal for bank deposits because they're stable and do not fluctuate widely in price unlike Bitcoin. In addition, they have all the benefits of cryptocurrencies such as security, transparency or privacy, and even borderless payments.
Therefore, Bitcoin is highly risky for Banks to adopt them, which is why I think that they would adopt stable digital currencies more than volatile ones like the former.
We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
Some banks already in Europe already accepting bitcoin deposits through credit cards designed for bitcoin or other crypto currencies that you can spend or withdraw them into cash. Mostly banks in Canada , America and germany also accepting bitcoin. I think banks used only for banking bitcoins that are for exchanges matter. I think it so risky for the banks to consider it as deposits because of volatility. However, it will depends somehow upon their policies.
High Availability The bank will apply blockchain technology for its outstanding advantages, and they will produce a bank's own electronic currency. The currency they can manage is the value of that electronic currency.
not banks, but soon what the author wrote about can become a reality. in September we all learn the truth
This is possible. but in my own opinion other monetary currency will not allow bitcoin to be deposited in the bank
The power of cryptocurrencies is causing more and more major players to take notice.
The power of cryptocurrencies is causing more and more major players to take notice.
banks can offer and work with bitcoin if someone take the sole responsibility of price falling.
yes, we offer deposits who people came up banks and will recognize the offer for bitcoin and for that maybe will still have an idea to deposit or not, people will let know deposits if will come in the banks.
Looking at how technological advancement keeps increasing as days pass by, there is a possibility that some banks will some day allow their customers to deposit their bitcoin. Some banks are trying to adopt into the new technological advancement like the blockchain technology. They are thinking of using blockchain to keep their records and datas....
We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
I don't think that banks will offer bitcoin deposits since banks was handle by governments , Governments hate bitcoin a lot to the point that they are planning to kill bitcoin by banning them in their country. If ever that there is a chance , it will took a long time. What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.
I think it is not will happen because it's very risky but if bitcoin has been received all over the world and has a steady increase and decrease in prices then that banks will offer bitcoin deposits can happen.
I think that this is unlikely because the importance of banks in this is completely absent! Moreover, I think that banks simply will not want to take such a risk, because the price can collapse any day.
I believe with time they will, because it will benefit them too.
Of course in the near future bank will offering feautures like bitcoin becausr of the popularity of bitcoin in the modern technology and because of vesatile of bitcoin it will use all over tbe world
I think the banks will profit most if such a situation was possible as they can always trade with your deposits, possibly increasing the quantity while your own deposit in the bank remains a fixed amount.
Cryptocurrency is the future no doubt. I believe banks would offer such plan in the future only when Cryptocurrency at large goes mainstream. This is the only way banks can offer that
This is possible, because banks need to increase their business in the near future, and in the near future they will offer bitcoin. Because the bank also invests in bitcoin for better profit. This will contribute to their income if they offer bitcoin, but it will take a chance.
maybe later we will find it, but it takes a very long time to wait for it, and it seems like many also choose to keep their coins in their personal wallet because they don't want to face a binding regulation from the bank ..
the entirety is viable, however this could take a few years, because we see bitcoins for 10 years already, but there are no members of the family with banks right now, it's far simplest to hope that the governments of all nations will legalize the cryptocurrency and then the banks will start cooperating.
It really was very profitable for the owners of banks. This is an excellent asset, which in the near future will show excellent growth.
It is possible maybe, as long as they would get profit why not ? it is a business so maybe banks will adapt on it, but this is just my theory tho.
Jump to: