Will banks ever offer bitcoin deposits? - page 42.

Phinoy

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Quote from: semes on April 26, 2018, 01:23:53 PM

I have read a news on this topic today. It's about some financial institutions working on crypto money investment in the US. I do not know the source of the news and the truth. But I think that in a very short period of time (within a few years), the banks will certainly be able to handle this. Otherwise it is not possible. There is an economic value in the middle. Bitcoin and some coins are already a big competitor to the banking sector. If the crypto money sector does not go to cooperate with the banks, we may not see the banking sector that we know today. Because many projects offer much more than banks promises, much simpler. All you need is internet and a PC.

I think some Bank's right now offer a bitcoin deposit it is because it already popular to the people I'm not talking about small once it is the big once even the government as will and it's already getting bigger in the market but sooner or later because it's big name at the market some banks will offer deposit.

Robertqueen2

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If the majority of countries worldwide accept Bitcoin as an international currency in the near future, central and big banks will not have a choice but to offer bitcoin deposits. Actually, traditional banks try to familiarize themselves with the blockchain tech in a way that enables them to dominate the world of cryptos so that they can take real procedures in accepting and offering bitcoin.

Kamal Zenda

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I don’t think that banks will ever offer deposit with Bitcoin because it acts as competition between bitcoin and banks .

assyla

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Quote from: shield132 on April 26, 2018, 10:20:04 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.

It can possibly happen. If banks will not hugged thr changes in world especially the cryptocurrency then banks may gone forever, so it can be a stepping stone to banks to make them lively again.

bbnt81

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They may accept, but in the future. And only when bitcoin becomes an international accepted currency. Its only virtual currency now and its not accepted globally.
We need the price to stay more stable and the market goes less crazy that people actually trust bitcoin.

salahfycl

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No banks would go for it there is no incentive at all for banks to “accept” bitcoin deposits. , you don’t need a bank to store Bitcoins.

hijabiyo

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We won't disclose the possibility that this might happen. If the banks would embrace bitcoin deposits then I think would take time to discuss. Then if it would be accepted it would give alot of volume for BTC.

korobitsyna96

newbie

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This is not profitable for banks, because then the interest in the services of this bank will be lost. Since nothing compares to mining.

jmvzlfyg

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I do not think banks will provide such services in the short term. Now the banking industry is very close to the encryption industry. They worry that bitcoin will take away their customers.

SemaVaflist

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I don’t think so, because the number one threat of the commercial banks here in the whole world are the cryptocurrencies.So its good to put in wallet and wait until the prices will rise and sell it in a reasonable price.

Haliburton

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Quote from: bstewart on July 08, 2018, 08:37:25 PM

Crypto was created as a means for the people to become independent from banks.

So no, I hope that crypto will not be offered as deposits in banks.

We are our own bank!!

Yes sir! I think that there would be no need for a bank to offer deposits in Bitcoin because of many various reasons. Like I said before, banks see Bitcoin as a threat, so it's very unlikely that they'll be able to adopt it as a form of payment for deposits, loans, or other services. Additionally, the high volatility of Bitcoin, could result in massive losses both for the bank and its customers. As such, the probability of a bank offering deposits with Bitcoin, becomes lower each day.

But, the bright side of all this is that you can be your own bank with Bitcoin. Since it's extremely secure, resilient, and rare by design, you can rest assured that your money will remain protected against external attacks for quite a long time (if you manage to follow the necessary precautionary measures). Therefore, in the future banks could cease to exist, or they would join in the revolution by adopting a centralized currency that makes use of blockchain technology. Grin

nagobinga

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I do not know but if I think it ever and the bank does not want to take a high risk to invest in bitcoin and now the price of 1 ETH will be very expensive for now.

Msworld83

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This can never happen because they are two different bodies that determine their way by same human,

Banks can't accept Bitcoin deposit most especially when it's volatile in nature and also risky to share with anyone your value in btc, this is why it has it own unique wallet to be saved in. But banks may also invest in btc might be another option but to save Bitcoin for a percentage return for the owner will not work.

bstewart

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Crypto was created as a means for the people to become independent from banks.

So no, I hope that crypto will not be offered as deposits in banks.

We are our own bank!!

pushups44

sr. member

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We need to quit using banks and instead use businesses that cater to our needs. So I agree that a shift in consciousness is needed. As a practical matter, once bitcoin is legitimized by regulators, I think banks will be forced to accept bitcoin as money.

Remainder

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We don't really know if bank offer bitcoin deposits but i think it is very possible to happen because bitcoin for me is also a currency, banks may open a new system for crypto that is separate on their old system just like a crypto exchange.

Ubay82

newbie

Activity: 196

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Looks like for now it still will not happen because BTC prices can not be predicted. Whether in the future will happen possibly yes, because at this time the government is still not fully Give it a full chance. But for the future like this will happen because at this time BTC already known by the layers of society

coinluisa

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Quote from: shield132 on April 26, 2018, 10:20:04 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.

I read to local in this forum some of bank accept a cash in bitcoin wallet through this bank so I think bank are aware how risky this bitcoin maybe someday they accept the changes in one country so there's possibility they accept bitcoin deposit in the future.

angrynerd88

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Hodlers Network

Yes it is possible,Because banks have threat that Bitcoin will replace the banks,Currently Bitcoin play a role of own bank there no hurdler of paper work or any delay from network people free from all hurdle and make transactions globally.In future Banks will offer the service to use Bitcoin as product or instrument to fulfill people needs and their survival as well.

Harrow30

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Quote from: shield132 on April 26, 2018, 10:20:04 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.

It will take banks with boldness to take this giant stride without batting an eyelid in this decision making. But I want to believe seriously that some few banks in my country are already into the cryptocurrency trades to make for themselves extra earnings. As far as they have background forex readings, cryptocurrency trading is also certain.

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