Will banks ever offer bitcoin deposits? - page 38.

Tylev

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Quote from: shield132 on April 26, 2018, 11:20:04 AM

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.

No, this situation can not be in nature. Banks will never take bitcoin for deposit storage under payment of guaranteed interest. For banks, bitcoin is too risky and too volatile in price to do it. Banks will never take such a risk. For them, there is always a business model with a much lower risk level.

mdrakibul

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Every business find to new way to earn more and more profit. Bitcoin and bank is competitor of each other. It possible but not like near future. We know on how the banks are doing well in making money.

*kimcil*

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Today many emerging companies adopt this kind of technology and make a profit from the beginning. Maybe someday the bank will realize the huge potential and benefits offered by Bitcoin and cryptocurrency, it's only a matter of time before the majority of them can join the trend, so let's hope so.

AVAMONEY

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At first it may look gimmicky or as a novelty but after a while banks will realize we acquire more customers this way I don't think that traditional banks will deal with bitcoin but we shall see other services that can offer some kind of deposits in bitcoin or any other cryptocurrency. if in case the country supports the blockchain and cryptocurrency system that allows the sale of bitcoin they will offer bitcoin deposit even though it is risky because they are not afraid to offer it because it is supported by the government of the country

shackleford

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Quote from: shield132 on April 26, 2018, 11:20:04 AM

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.

Your thought is worthy of attention of many. Indeed, if banks cannot earn on bitcoin transactions and taxes, then they can earn on borrowing at interest in bitcoins. I think there is a good parallel to this idea. In 2-3 years I am sure we will hear about this possibility in everyday life.

Schwabac

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I really doubt that we are ever going to see it happening, most of the times, we are seeing that banks and bitcoins are totally the opposite, and i am more than confident in that we are never going to see them offering bitcoin deposits or withdrawals

Strange9

newbie

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I don't think it will happen within near future, but it is possible

IamKnowledge

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These days many investment companies allow their clients to invest in bitcoin to earn interest. Most peer to peer group and ponzi schemes such MMM also allow for bitcoin investments. I believe banks will also get on board and start something with bitcoins especially if bitcoin gains more ground and control the market. You know how these bankers are interested in many high profits.

Sampson7

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Seems to be possible because A lot of companies now are adopting this kind of technology and making profit since from the very start. Maybe someday banks will realize the big potential and profit that the Bitcoin and cryptocurrency offers, its just a matter of time before majority of them may join the trend so lets hope so. There is a possibility

Karie_Legend

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In some countries might say it by turning Bitcoin into real money in the bank. Maybe so.

syntac

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If the bank has found a way to profit from the bitcoin deposit from the customer, it is not impossible that the bank will offer to its customers for bitcoin deposits. All banks will certainly adapt to the technology if necessary.

rajkr

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It will vary amongs countries but I don't find such type of deposit in INDIA as there all policies has been anty crypto.

Nevsky

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★Bitvest.io★ Play Plinko or Invest!

Quote from: marcbitcoins on July 13, 2018, 12:04:16 AM

Quote from: shield132 on April 26, 2018, 11:20:04 AM

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.

This is possible specially JP Morgan is now supporting Bitcoin but i think the banks should completely shift from fiat currency banking system to Bitcoin banking system because of Bitcoin is centralize while fiat is not. Anyway banks are used to digital transactions so they could easily adapt to the new system but for now they are just partner with the local exchanges in which we could only use their withdrawal facilities not the deposit services.

Indeed, JP Morgan and several other well-known institutions support the technology of Blockchain. Recently I read that the billionaire and businessman Steven Cohen decided to invest in crypto-currencies. So the news is favorable, but there is not even a smell of a reversal of the trend. Sooner or later the growth of the cryptocurrency will take place. However, I am afraid of banks that are trying to monopolize a young and growing market.

Huntsman82

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Quote from: Ryshelrayne on July 13, 2018, 04:37:48 AM

Not in the near future. Right now banks are making a lot of money from you with little risk. But if bitcoin becomes more acceptable means of transaction then the banks will have no choice but to adapt.

The banks will surely adapt and probably became the exchanges in the future but they will not win in this war with crypto.

Assface16678

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★Bitvest.io★ Play Plinko or Invest!

Quote from: shield132 on April 26, 2018, 11:20:04 AM

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.

Soon enough bank will realize how profitable bitcoin is. As well as they need to adapt in changes in our society, as for now the bitcoin was just starting to spread and made its name, soon enough more people will use bitcoin as a medium in doing transaction. Therefore bank need to go with the flow in able for them not to get bankrupt. Bitcoin will be with us in the future.

aolin118

newbie

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at present, in my country,no bitcoin deposits provided,

bellator66

newbie

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I heard there are many banks that have started receiving bitcoin in the Philippines. With bitcoin becoming increasingly popular and mainstream, banks sooner or later will have no choice but to accept and adapt to these changes in order to remain relevant. As far as I know many banks have started accepting bitcoins. So by itself we can save in the bank like a regular currency.

Usafstar

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As we know that bitcoin is risky and we can just use bitcoin for making payments but when the banks offer bitcoin deposits then bitcoin can be grow because the large usage and deposits will be held in banks while many online transfer will shift through banks.

Malek3

newbie

Activity: 36

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It could have happened if the bank could develop his project to start receiving digital currencies and can receive the technology used is certain the bank will be able to do that. It is better if you use the deposit system transparently.The time will come when bitcoin is developed to a stage average person understand it and banks see it as means to boost their profits.

nussy

newbie

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It will be amazing for banks to adopt bitcoin as a means of deposits. Time like this will surely come I believe when banks will accept bitcoin for either cash deposits or fixed deposits.

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