You can buy crypto by exchange with those who hold it. You don't need a bank just to meet someone who owned crypto and give them cash.
Always remember never sent money until you're 100% satisfied.
Get reviews before exchange money online since there are many scammers here and waiting for your money to be scammed.
Topic: Without banks, is it possible to move physical currencies to Crypto? (Read 913 times)
February 16, 2021, 12:18:59 AM
February 12, 2021, 08:21:32 AM
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The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?
The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?
Do you understand the history of physical currencies?
Banks are absolutely inevitable as long as you use physical currency, if crypto wins this war completely. You will not ask how to convert it because physical money is no longer used.
I will not call this a war, but a transition to more sophisticated and efficient technology. In fact, banks can also adopt blockchain technology.
If you use crypto then banks are inevitable as well. We just call them exchanges at the moment. Just as you don't carry your life savings around in your wallet, most people would rather leave their crypto in an exchange where they can't lose/forget their private keys. As long as it is insured then that is the exchanges problem. Whether it is Binance or the blockchain arm of Barclays, it will all be the same thing. Don't some exchanges offer interest?
February 12, 2021, 05:37:00 AM
We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.
It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
In my Country our Local wallet supports any exchange transfer , also it stands as exchange but with limited currency accepted so at any chances we can transfer Fiat into crypto everytime as long as we are capable of transaction fees.It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
Or you can have crypto here in forum from trusted members so there is no need to go through banking services.
February 12, 2021, 04:49:36 AM
It is possible but the only way I know that fiat can be moved to crypto is buying the wallet that contains a fixed amount from a person. Applications that make fiat into an electronic money is an acceptable move too, applications that do that in my country doesn't need to be involved in banks like remittance centers. Some applications that I can think of is coins.ph, Gcash mobile wallet, Paymaya and Paypal. But in my experience P2P is the best because there isn't a lot of transaction fees involved.
November 15, 2020, 08:37:28 AM
Of course. Using e-wallets and digital wallets.
Even e-wallets and digital wallets needs to be backed up by bank accounts, right? Even with some of the stablecoins such as Tether (USDT) and USDC, the backup funds are being held in various bank accounts. You can reduce the interaction or interlinking with the banks, but in the end it is impossible to completely remove them. The only other option is to use physical cash. But it is neither safe, nor practical.
November 15, 2020, 06:47:48 AM
Of course. Using e-wallets and digital wallets.
November 14, 2020, 09:32:16 PM
...is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
To exchange physical currency or FIAT into cryptocurrency without going through a bank, there must be a physical merchant who directly serves the transaction. It was the only way I could think of when absolutely no bank was involved in the transaction. What is certain is that as long as our fiat currency does not become a number on the smartphone screen, we will avoid bank lines.We cannot say that e-wallets are not connected to the banking network, to deposit e-wallet balances, 95% + people will definitely use the banking system. If you feel you don't own a bank, then the e-wallet company you are using will at least use the banking system.
November 14, 2020, 06:36:07 PM
We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.
It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
I don't know in your country but in ours moving crypto Is easy as ABC It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
we can Buy or purchase Crypto using our local wallet..HOW?
just buying load in 711 stores or those money transfer branches and after loading fiat we can just easily convert to bitcoin or Ethereum,ripple pr bitcoin cash.
then after converting then we will choose in which exchange we wanted to trade and how much we wanted to invest.
but it is very strict abount currencies that coming from gambling sites,things that bannable or locking of account.
November 14, 2020, 04:48:20 PM
Removing banks is at first turning bank holders' psychology into creating instead of getting rich. Whatever: USD, EUR, JPY, RUB, Golden coins, Bitcoins, ethereum... There is a problem with peoples lust for money, it doesn't matter which currency is on top of the day. So, bitcoin alone will never bring liberation from banks. Only mass psychological changes can reorganise current financial system. All other tools and currencies will just change the main players.
November 12, 2020, 07:56:42 PM
We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.
It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
Indeed, in some countries ATMs have also been implemented so that we can get money with bitcoin, there are also several shops that provide payments with bitcoin. Hopefully other countries will also implement the same payment system as bitcoin so that bitcoin can become a growing volume that can make it an alternative payment method besides the payment method currently applied by various countries, of course this is not something that cannot be done in the future.
Yes, some shops/convenience stores like 7-11 are accepting the btc transaction via 3rd party service provider.
And that means, you don't need your bank account to purchase crypto.
The number of merchants or local crypto websites is also increasing, so the purchase of btc or crypto is really now getting more reachable.
November 12, 2020, 06:17:24 PM
We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.
It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
Indeed, in some countries ATMs have also been implemented so that we can get money with bitcoin, there are also several shops that provide payments with bitcoin. Hopefully other countries will also implement the same payment system as bitcoin so that bitcoin can become a growing volume that can make it an alternative payment method besides the payment method currently applied by various countries, of course this is not something that cannot be done in the future.
Yes that's true but the challenge over here is something to do with adoption of such technologies in densely populated Asian nation's which is a big market for crypto but apart from Singapore crypto is still taboo for government of ther asian nations which will make it difficult for such technologies to be implemented without any hassle in these nations.
November 12, 2020, 06:01:28 PM
We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.
It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
Indeed, in some countries ATMs have also been implemented so that we can get money with bitcoin, there are also several shops that provide payments with bitcoin. Hopefully other countries will also implement the same payment system as bitcoin so that bitcoin can become a growing volume that can make it an alternative payment method besides the payment method currently applied by various countries, of course this is not something that cannot be done in the future.
November 12, 2020, 05:42:49 PM
To be frank, this looks like a tough question because it is hard to bypass the bank, in one way or the other, you might pass through the bank. However, I think the easiest way is to look for a local crypto exchange in your location or country, you meet with the person in charge, send your cash to him and get your Bitcoin. But one of the shortcomings is, what is chances of meeting a local exchange with a physical shop and can you trust the person not to come after you, maybe to steal from you, taking into consideration that Bitcoin is very valuable.
This aspect of making crypto easily accessible is what made small online peer-to-peer exchanges to spring up, in this case, the online platform will link you with a seller, wherein they act as a intermediary, so you can see Indirectly, you are still going through the bank.
This aspect of making crypto easily accessible is what made small online peer-to-peer exchanges to spring up, in this case, the online platform will link you with a seller, wherein they act as a intermediary, so you can see Indirectly, you are still going through the bank.
November 12, 2020, 04:48:32 PM
From the best of my knowledge, you can't move physical currencies to crypto without going through the bank. How do you even buy crypto? Isn't it with money? I mean the local currency... And how do you get the local currency ready to buy crypto, don't you have to do a deposit or something with the bank? 
Like what others said, you can buy bitcoin through e-wallets such as coins.ph, paypal and much more. And yes we buy bitcoins with money, I know that banks is one of the producers of our money yet it is possible to move physical currencies to cryptocurrency without it but that doesn't mean that we are banishing banks from our life. The question asked is tranferring fiat into cryptocurrency which is really possible, but it also requires transaction fees like what other banks do.
Nope. You got an incomplete version of the question asked. The OP asked if it's possible without going through the bank. And to me, I still see the answer as a big 'NO'. You talked about PayPal. How do you get money into your PayPal account? Isn't it the deposit you made from the bank? ¯\_(ツ)_/¯. One way or the other, the bank is just init.
November 12, 2020, 03:09:54 PM
From the best of my knowledge, you can't move physical currencies to crypto without going through the bank. How do you even buy crypto? Isn't it with money? I mean the local currency... And how do you get the local currency ready to buy crypto, don't you have to do a deposit or something with the bank?
Like what others said, you can buy bitcoin through e-wallets such as coins.ph, paypal and much more. And yes we buy bitcoins with money, I know that banks is one of the producers of our money yet it is possible to move physical currencies to cryptocurrency without it but that doesn't mean that we are banishing banks from our life. The question asked is tranferring fiat into cryptocurrency which is really possible, but it also requires transaction fees like what other banks do.
November 08, 2020, 07:52:29 PM
Earlier we had the access to move physical currencies to bitcoin through localbitcoins. Later for regulatory needs it has been taken away. In this process one can't stay anonymous, this is possible on in-person trade. The buyer and seller agrees to meet at a place and exchange bitcoin for cash. This has got limitations. This is how banks usage was eliminated, and now scenario has changed with each and every transaction getting associated with banks.
November 08, 2020, 07:21:59 PM
From the best of my knowledge, you can't move physical currencies to crypto without going through the bank. How do you even buy crypto? Isn't it with money? I mean the local currency... And how do you get the local currency ready to buy crypto, don't you have to do a deposit or something with the bank?
November 08, 2020, 03:55:56 PM
It will always depend to the available resources of your country because if you cannot transfer to a certain cryto exchange without
using a bank account then it is not possible to move your physical currencies to crypto.
But in the other hand, the same to what other has replied to you it is possible as long as the crypto exchange will accept remittances
coming from the different remittances that is also available to your country. I am not so sure if there are other ways aside from remittances.
using a bank account then it is not possible to move your physical currencies to crypto.
But in the other hand, the same to what other has replied to you it is possible as long as the crypto exchange will accept remittances
coming from the different remittances that is also available to your country. I am not so sure if there are other ways aside from remittances.
Remittances depend greatly on banks for functionalities, so it still doesn't invalidate banking sector in the Crypto sphere if we look it from the perspective of "Cryptocurrencies replacing the central banks". But I am 100% sure there are exchanges working tirelessly to fix this up, in a manner in which you can deposit physical cash directly to exchanges for trading. Perhaps opening of physical branches like banks...
November 08, 2020, 02:15:39 PM
We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.
It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?
November 08, 2020, 01:11:01 PM
It will always depend to the available resources of your country because if you cannot transfer to a certain cryto exchange without
using a bank account then it is not possible to move your physical currencies to crypto.
But in the other hand, the same to what other has replied to you it is possible as long as the crypto exchange will accept remittances
coming from the different remittances that is also available to your country. I am not so sure if there are other ways aside from remittances.
using a bank account then it is not possible to move your physical currencies to crypto.
But in the other hand, the same to what other has replied to you it is possible as long as the crypto exchange will accept remittances
coming from the different remittances that is also available to your country. I am not so sure if there are other ways aside from remittances.
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