Will banks ever offer bitcoin deposits? - page 77.

Haliburton

full member

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Liberated Forever. Domesticated Never.

Maybe, if Bitcoin becomes regulated and recognized as a legit currency, then banks could start offering Bitcoin deposits to customers. If they allow this to happen, then it would further boost the confidence and trust from people in the mainstream world into using Bitcoin as they'll be able to deposit Bitcoins into a bank for additional security and reliability.

Imagine being able to earn interests on a Bitcoin savings account provided by a bank. Or even get a checking account with a debit card that would allow you to use your Bitcoin funds from your bank account. The possibilities would be endless and if banks start to offer Bitcoin deposits, it could make a connection between fiat and crypto.

But, it is up to the governments to determine the level of regulations necessary for this to happen. If no action is taken to make this a reality, then I guess that fiat would be the only option on a bank for quite a long time.

Domanity

newbie

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it's possible, to keep up with the times and technologically advanced and modern ones, it may be done by a bank to keep them out of date. but is it possible, I think it will be difficult to happen. but it also depends on government policy. and if the bank has received Bitcoin deposits, that means Bitcoin is already official in the country.

Emran4567

newbie

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It is a dream of sky sky. If everyone is allowed to deposit the bank then everyone will be benefited. I believe this will be beneficial to the government and the bank. This will be easy for investors who work for them.

Omega Weapon

hero member

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Merit: 501

Quote from: EasyTutor on May 25, 2018, 10:30:49 PM

The day will eventually come where banks offer bitcoin. This could be super profitable for banks, especially if they give/receive deposits at the right time. Crypto will become the new wave of currency and the banks will have to catch on or get lost in the dust.

Banks are in serious trouble in one hand they cannot ignore bitcoin any further but if they offer bitcoin deposits it is basically like recognizing they cannot fight bitcoin any longer and they are accepting their defeat so I really do not think that we are going to see such a thing so soon, bitcoin needs to become a lot bigger and banks need to try more stuff against bitcoin.

jpnl0002

member

Activity: 308

Merit: 10

The traditional banking is filled with rules and regulations that most citizens are not comfortable with and that has lead to the massive usage of bitcoin and the banks are beginning to loose out on customers and that alone will make the banks to incoorperate the use of bitcoins in their banking activities in order for them to still remain in business.

prismatica007

newbie

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it would be something strange but at the same time novel, it would give the opportunity that our daily life would adapt to the new technological progress with the btc.

Ethan Argu

jr. member

Activity: 340

Merit: 1

We all know bank is not safe. Why ? Some news now a days bank can be hacked. If they offer for deposit. I refuse it. Bank is not safe so i stay in wallet it will safe no one can control in thier. Unlike banks they have manipulated with central bank.

yesyes18

member

Activity: 546

Merit: 12

That's a very nice proposition by you. It'll be giid for banks to do so, it could be a professional way of HODLing your coins. Anyways banks are working in conjunction with country to follow regulations and hence it it becomes difficult for them establishing such initiatives. I bet you that many banks would want to trade BTC as.

septyadf1

jr. member

Activity: 110

Merit: 3

Currently no banks accept Bitcoins in its form. They trade/transact in government backed fiat currencies only.
Although Bitcoin is a legal payment tender in some countries. Your traditional banks do not directly deal with Bitcoin. There might be some intermediary who convert Bitcoin to local currency and vice versa.
Secondly Bitcoins is against the concept of centralised authority in charge of your money. If you need a bank to park your money, you do not need Bitcoin.

aderupoko

newbie

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am not so sure of that,,though it has a good potential in the market,,,doesn't means that bank will offer its deposit

QuickS22

newbie

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The volatility in the market of crypto currency will decrease with time. The fact is that the market is still young. Over time, deposits in Bitcoins may appear.

KeithHopkin

jr. member

Activity: 91

Merit: 5

The idea of deposits in bitcoins looks interesting enough for the participants of the Japanese and world market to meet her with open arms. Nevertheless, some experts have expressed doubts about the operation of mechanisms for accumulating interest. Indeed, bitcoin is different from fiat money, hence, it needs other mechanisms.

franklin hoses

newbie

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Well then it would end in the same cycle which it wanted to change the monopoly of banks over currency regulations

Memenya

member

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Merit: 10

Quote from: seattlenonsmoker on May 21, 2018, 04:06:00 PM

recently the Japanese company Coincheck announced the first interest-bearing accounts in Japan in bitcoins. Despite the fact that in general the project looks quite attractive and can promote the distribution of bitcoin among the population, there are certain problems associated with the mechanisms for making profit from such deposits.

But the problem bank will not think that easy to adopt bitcoin as deposit since the fluctuation is very high.
They will not put their customer in high risk so i dont think any of bank will try to accept bitcoin as deposit. If retail market accept bitcoin, maybe it has bigger opportunity since its own by a person not government.

Maveric99

newbie

Activity: 144

Merit: 0

Many companies are now adopting this kind of technology and making a profit from the beginning. of course the bank already knows such things but the bank can not accept the thing that does not materialize to become assurance held like an asset. someday the bank will realize the huge potential and benefits offered by Bitcoin and cryptocurrency, it is only a matter of time before the majority of them can join the trend, so let's hope so.

jhache

full member

Activity: 518

Merit: 100

Why would you deposit your bitcoins in bank accounts? When the reason it was created was to free us from the banks and make us our own banks. Also why would you increase your risk and give your bitcoins to a third party when you can secure your Bitcoins yourself by storing them in cold storage.

Troysen

member

Activity: 476

Merit: 10

For Now, the banks will never offer Bitcoin deposits, they are against Bitcoin in every way possible as the coins threaten their existence and operations.Bitcoins address a number of factors like tax free deposits, fast transactions.open ledger through the blockchain among others, that the Banks don offer, However, with time, i believe Banks will have option but to adopt Bitcoin deposits as the currency will have taken over the Financial technology sector

elbimbo012

full member

Activity: 476

Merit: 108

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 seems like lendng? you will deposit your vitcoin to tuem and gain certain interest ehile they will use your bitcoin for some trafing sctivity to gain profit also. will this may a good i dea and i think this will not come to far for reality this may possible and with investors worldwide this can create huge profit for any bank who will try this service.

onrise

sr. member

Activity: 1512

Merit: 316

Quote from: EasyTutor on May 25, 2018, 10:30:49 PM

The day will eventually come where banks offer bitcoin. This could be super profitable for banks, especially if they give/receive deposits at the right time. Crypto will become the new wave of currency and the banks will have to catch on or get lost in the dust.

It will vary from country to country depending upon their banking and country policy. Also if they find that it can hurt the banking system or can disrupt it then I think it will not be allowed to involved in banking functions or bank will not deal in such things.

Fafabol

member

Activity: 267

Merit: 11

In the future,some banks also offers to deposit bitcoins because just like other currencies,cryptos has a great value and maybe a market share in other countries which they decided to legalized like their monetary.However,these banks must offered more security feautures that make their clients comfortable.and felt secured.

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