Topic: Will banks ever offer bitcoin deposits? - page 85. (Read 6383 times)

Easy to say.. Bank will not accepted bitcoin because it was a very high risk investment. Bank are hold peoples money. What will happen if bitcoin drop to the ground. Very sure bank will bankrup.

I hope they do on the soonest possible time. That would be the day bitcoin becomes mainstream. Bank employees would be trained to handle cryptocurrency transactions to non-techie people in a manner they would understand.

There are some projects that are trying to create cryptocurrency banks where the transactions/services are done in cryptocurrencies and with the help of blockchain technology. I think even before that traditional banks and other financial services will embrace these technologies and will provide investment instruments based on cryptocurrencies in general, not only bitcoins. This is inevitable!

Of course, they don't want to be behind from new development. Taking advantage for these might be their plan for the betterness of their services to the clients.  If they never accept this, it could possibly that their income will decrease.

Maybe when certain things in the market reaches a certain distinction
that crypto will come to be recognised and for banks to become interested
in. But with the rise and ever increasing popularity of Bitcoins, I believe
bitcoins will be the one or one of the primary currencies Banks will be able
to deposit in the near future. But then again it’s ambiguous volatile nature
will always be an issue, regulation might pave a way for banks and bitcoins
to coincide and allow future crypto bank deposits. We’ll just have to wait, hold
and see until things develop to Bitcoin’s advantage on this one.

That idea might came through someday that banks all over the world would accept bitcoin deposits according to the banks term and conditions, this might possibly happen in the future because some banks now accepts payments and transactions using bitcoin and other altcoins , this would come to reality.

In general, 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.

People don't want to be responsible for that. It's not for nothing that they prefer to use online wallet platforms. Soon every platform will offer people to 'securely' store their funds offline like what Xapo is doing.

It has become so popular, that Xapo holds $10 billion in Bitcoin in its vault. It's mind boggling that one service holds that many client funds, and that while it was heavily losing market share in its own core business activity.

I will never ever allow any central party to hold any of my coins. It just feels wrong and I wouldn't be able to sleep well thinking about all possible scenarios of what could potentially happen in case of a hack or inside theft.

From my opinion I know a time will come when bitcoin through blockchain can deposited in the bank..i strongly believe that.. There is more to blockchain than that which meets the eyes..

Yeah i think this will come. It might not come now, but in the future it will. Bitcoin has a part of the lives of many people. Seeing the demand for bitcoin increases rapidly, as a business institution, banks will fill that need and see that it is better to adopt it rather than go against it. Anyway, the technology of bitcoin is far beyond what banks can offer. So i think they'll probably fall into their own trap.

this will only be possible if we restructure the banking system or the bitcoins infrastructure. bitcoins is supposed to be anonymous and this will be a huge challenge for any bank because by the nature of their setup banks will need to know who is transferring or doing a particular transaction and what we refer to as KYC (know your customer) information. The privacy is what attracts a number of individuals who need this anonymous status and so even if banks were to eventually offer deposits we would need to furnish them with information thereby destroying the bitcoin one address to another without having to endure any question and answer session, so if this were to become possible then eighter side would have to make drastic changes which would remake/change the face of their institution.

That is very much possible in the future. However, banks have a full regulation in putting tax into deposits, then why would you still put your money in banks. Better hold your bitcoin and make it grow by yourself.

Might have already been said, but the Rabobank (Netherlands) has recently announced that they will be offering their own cryptowallet. It still in the preliminary steps (internal beta, to be precise) but it's definitely getting some traction. If you want more information you can read more about it over here:

https://www.cryptocoinsnieuws.nl/achtergrond/rabobank-komt-met-rabobit-een-cryptowallet-whut/
(It's in Dutch though, but I'm sure Google Translate will give you the general idea)

I think banks will eventually adopt it but its probably a ways off. In the mean time they will mostly be distrustful of crypto currency.

Are you talking about fiat based banks getting into Bitcoin? I.e., HSBC starting to accept bitcoin deposits?

Because there are already loads of bitcoin banks...every bitcoin exchange is a bank, accepting holdings, etc.


It's hard for bitcoin banking to be profitable in the same way that fiat banking is profitable...that's part of the reason why bitcoin was created, to move away from the traditional fiat banking system and their fractional lending process that is so profitable for them and so costly for us.

Banks earn money by lending out the deposits they have on hold from their customers. They charge interest on the loans that exceeds the interest they pay on the savings deposits. And lately banks have decided not to pay anything (i mean almost zero interest) on savings, yet they charge as much as they possibly can on lending. This is predatory.

It's hard for the same to be done with Bitcoin because transactions are final and there is little to no recourse if your bitcoin is stolen.

There are a few bitcoin exchanges that are paying interest on the deposits of their customers, which is appropriate to account for the risk the customers are accepting to leave their bitcoin with those exchanges. These exchanges make their money in another way, in some cases they are using a portion of the deposits to fund mining operations.


P.S. Freebitco.in is one of the BEST examples of how a bitcoin bank should be operated. Holding deposits and paying interest to depositors. They're better than Coinbase and every other Bitcoin exchange wallet company. They've been paying interest on deposits for over a year now, reliably, every single day...without fail.

That's why I would consider Bitcoin as an investment or so a bond, but in no way Bitcoin will be able to be a means of payment in the future. Perhaps because of this, many states do not dare to legalize this coin.

Due to the volatile nature of bitcoin it will be very hard for banks to come to terms with that because banks are always after their own profits and as such will never go into any service that is as risky as offering bitcoin banking. Bitcoin is hard to predict in terms of future price so at that the bank is almost blind and out of control.

Banks will not support crypto currency at all but it need to change soon if it happens it is very helpful for the development of the crypto currency and also the value of the bitcoin development.

I love depositing my fiat to the banks and they are making money with it but  its bitcoin.If we speaking kinda teoritally.. well, I guess it is possible sometimes.. maybe after all bitcoins would be mined.. and price could be more predictable.. but I'm sure banks will not offer for you very good conditions...
They will earn money for themselves first of all.

In the near future we expect a lot from bitcoin and i hope that bitcoin will be like our real money to used it like our real money. But if the banks can make a real deal agreement in terms of bitcoin that would be great. A law might still be needed to enact first before government gives approval to any bank that wanted to allow a bitcoin deposit. Once you put your bitcoins on bank, it no longer possess the decentralized characteristics. It becomes more like a centralized currency where you will lose full control of your coins. If you want to get fixed amount of profit per year from bank just stick with traditional currencies.