You Can Now Keep Your Bitcoins In A Bank - page 3.

kapalmabur

sr. member

Activity: 2002

Merit: 250

Quote from: asus09 on October 31, 2019, 04:04:38 AM

Quote from: ngano ba on October 09, 2018, 09:47:01 PM

It is good really if the banks are accepting the cryptocurrency ,so it will add the popularity of cryptos that it will be accepted by banks a deposit or any kind of bank transactions , it will add the goals of bitcoin and cryptos to be accepted by this finance institutions.

I am very happy if have bank support with bitcoin and we can save in the bank not only with money but also we can use bitcoin or altcoin as our saving assets, we do not worried with hacked wallet bitcoin account because we use very safety place for saving bitcoin in the bank, now looking for which one bank want to support using bitcoin and altcoin as our saving money or saving bitcoin and altcoin.

but not all BANKs in the country want to provide this service, as far as I know, only in Japan can provide this service because Bitcoin there is guaranteed by the government,
if all BANKS in the country are allowed, I'm sure the price of Bitcoin will also go up

asus09

sr. member

Activity: 1344

Merit: 270

Quote from: ngano ba on October 09, 2018, 09:47:01 PM

It is good really if the banks are accepting the cryptocurrency ,so it will add the popularity of cryptos that it will be accepted by banks a deposit or any kind of bank transactions , it will add the goals of bitcoin and cryptos to be accepted by this finance institutions.

I am very happy if have bank support with bitcoin and we can save in the bank not only with money but also we can use bitcoin or altcoin as our saving assets, we do not worried with hacked wallet bitcoin account because we use very safety place for saving bitcoin in the bank, now looking for which one bank want to support using bitcoin and altcoin as our saving money or saving bitcoin and altcoin.

Suslived

member

Activity: 252

Merit: 13

CryptoTalk.Org - Get Paid for every Post!

Quote from: Hydrogen on September 12, 2018, 03:19:17 AM

Summary: Citibank has created something they call a "digital asset receipt(DAR)" which could allow purchasers of bitcoin to have banks hold their coins. The details aren't clear. There isn't much information posted here about minimum purchasing amounts or who digital asset receipts will be marketed to. Its nice to see innovation and new offerings for crypto enthusiasts. Although I have a feeling these digital asset receipts might come bundled with $100,000 dollar minimum investments and cater only to high(er) end demographics.

I would guess some would opt for DAR's if they could provide insurance on bitcoins and crypto up to limited amounts.

Wow this is big news and am surprised it hasn't been sensationalised by news and media outlets. Citibank going into crypto and digital, no matter how "high" the target demographics are, is a huge thing because it recognizes the value of crypto.

Hopefully this further adds to the fire of the current bull run we are experiencing.

secretgirl

sr. member

Activity: 798

Merit: 250

BabelFish - FISH Token Sale at Sovryn

if this information is true, I would love to hear it all. and I think crypto fans will also be happy. in my opinion it is a good innovation that will make crypto more desirable by the public. even though receiving digital assets only served high-level demographics and I couldn't afford to invest 100k dollars, I'm still happy to hear that. maybe investors who have lots of money, will use it. and attract the attention of new investors who will join crypto. I think, that's all good news and will make the crypto future better.

EdvinZ

sr. member

Activity: 994

Merit: 260

I think that such a system of depositary receipts for Bitcoin will be good for investors, but it harms the very idea of Bitcoin as a means of payment. These Bitcoins that will be reserved for these depositary receipts will simply lie on the accounts of their owners and when people buy receipts from each other, no transactions will be made in the Bitcoin blockchain. Thus, Bitcoin will turn from digital money into just a valuable investment asset.

reality18

member

Activity: 938

Merit: 14

Earn more with Earn Network

Well, in my country, we don't have Banks which accept cryptocurrency deposits. However, there are cryptocurrency merchants which provide some Banking services like depositing and saving ones crypto assets in a created account which converts the digital asset right into fiat based on the current rate on the market. Here, the depositor receives no interest or decrease in value of asset or funds because it is not subjected to the market volatility any more since the assets are converted to fiat after depositing.

sirminesalot

sr. member

Activity: 1148

Merit: 252

Quote from: Irvinn on June 30, 2019, 02:19:56 PM

It seems to me that today banks cannot provide a real opportunity to save cryptocurrency for the user. Some banks lose their money from accounts that are hacked by hackers. The same situation will be from cryptocurrency. If your money or gold bars are in a bank safe, then here the bank is more likely to save these funds rather than cryptocurrency.

in the relationship between crypto currencies and banks there must be a negative and positive side to the relationship security issues are certainly safe for our investment assets but in my country the government has not fully recognized the crypto currency as the prevailing currency in its direct transactions is still prohibited by the government and I am sure that in the future crypto currencies will be able to work together with banks and governments

Renampun

sr. member

Activity: 2338

Merit: 365

Quote from: pinkpanther03 on August 21, 2019, 06:11:03 AM

I don't know if this is a good news to me, because according to my knowledge once we can keep bitcoin in the banking system it means
the bank company will going to have an access to your account wallet into bitcoin? therefore, they have in control to our balance, is it they can also able to freeze it too?

freeze the account, maybe the BANK has control of it but to have control over the account is like having a private key...
I don't think that's possible. actually, the concept offered by the BANK is not much different from where the Exchange, they have legal control over our account but do not have a private key account. I think this is very good.

nightxglow

sr. member

Activity: 700

Merit: 251

I don't really understand what it means, and how it works, but i think it's a great news? but some things i'm confused, if we save our cryptocurrency in the bank, does that mean we give them our private keys? or maybe we transfer our cryptocurrency for them? But for what, if we have our own wallet? Will it give us extra protection or maybe just some evidence of our cryptocurrency ownership? Well but i kinda like the fact that bank and cryptocurrency can work together because all these times, i only see people said banks are afraid of bitcoin, or bitcoin will destroy banks etc.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: pinkpanther03 on August 21, 2019, 06:11:03 AM

I don't know if this is a good news to me, because according to my knowledge once we can keep bitcoin in the banking system it means
the bank company will going to have an access to your account wallet into bitcoin? therefore, they have in control to our balance, is it they can also able to freeze it too?

There is no need to give your info or private keys . you can just send them your bitcoins to them like a normal transaction . they can do what they want once you already handed out your bitcoins but still this should be consider as a good news because banks are creating more possibilities to expand the use of our btc's .

Keeping our btc on a bank is more safe like what we do on our local currencies but this is only optional

pinkpanther03

hero member

Activity: 1092

Merit: 501

I don't know if this is a good news to me, because according to my knowledge once we can keep bitcoin in the banking system it means
the bank company will going to have an access to your account wallet into bitcoin? therefore, they have in control to our balance, is it they can also able to freeze it too?

HELLOFF

member

Activity: 602

Merit: 10

I never doubted that the banking system is adapting to the new market conditions and will use cryptocurrency for its own benefit. No wonder many banks tested blockchain in their systems. Today, statements are already ridiculous when they say that cryptocurrency can destroy the banking system. Now it’s very good to see how banks make good use of Bitcoin for their activities.

breathlessz

member

Activity: 770

Merit: 12

Trphy.io

Quote from: elisabetheva on August 19, 2019, 02:20:24 AM

Quote from: Hydrogen on September 12, 2018, 03:19:17 AM

-snip-

....

Summary: Citibank has created something they call a "digital asset receipt(DAR)" which could allow purchasers of bitcoin to have banks hold their coins. The details aren't clear. There isn't much information posted here about minimum purchasing amounts or who digital asset receipts will be marketed to. Its nice to see innovation and new offerings for crypto enthusiasts. Although I have a feeling these digital asset receipts might come bundled with $100,000 dollar minimum investments and cater only to high(er) end demographics.

I would guess some would opt for DAR's if they could provide insurance on bitcoins and crypto up to limited amounts.

Very big progress if it is true that Citibank will be able to accept bitcoin assets, because it is clearly safer to store and conduct transactions in a bank, because we know that many wallets are burglarized by people we don't want.
hopefully what you inform will be clearer in the future. hoping for progress

it would indeed be very helpful if there were banks offering their wallets for cryptocurrency. we will feel if our assets are large, it will be risky if we keep it ourselves, there is no guarantee of security. a little error can be fatal. but if at the bank, we get extra protection. on one hand, of course this is a development, that banks and cryptos can collaborate

elisabetheva

full member

Activity: 1708

Merit: 105

Quote from: Hydrogen on September 12, 2018, 03:19:17 AM

-snip-

....

Summary: Citibank has created something they call a "digital asset receipt(DAR)" which could allow purchasers of bitcoin to have banks hold their coins. The details aren't clear. There isn't much information posted here about minimum purchasing amounts or who digital asset receipts will be marketed to. Its nice to see innovation and new offerings for crypto enthusiasts. Although I have a feeling these digital asset receipts might come bundled with $100,000 dollar minimum investments and cater only to high(er) end demographics.

I would guess some would opt for DAR's if they could provide insurance on bitcoins and crypto up to limited amounts.

Very big progress if it is true that Citibank will be able to accept bitcoin assets, because it is clearly safer to store and conduct transactions in a bank, because we know that many wallets are burglarized by people we don't want.
hopefully what you inform will be clearer in the future. hoping for progress

Ozero

full member

Activity: 2142

Merit: 183

Quote from: butka on September 12, 2018, 03:40:06 AM

Quote from: Hydrogen on September 12, 2018, 03:19:17 AM

Summary: Citibank has created something they call a "digital asset receipt(DAR)" which could allow purchasers of bitcoin to have banks hold their coins.

So these DARs are going to be similar to ETFs. Same story, different package. The point is, you as an investor, don't want to be dealing with creating and saving your private keys. You want someone else to do that for you. Is it good or bad news for the Bitcoin ecosystem? Honestly I don't know. On the pros side, it may help pump new money in. But I tend to think it is not so good, as we get these weird financial constructions, where someone else keeps your bitcoins, not you in reality. Will these custodians be transparent and to what degree? Will they enable landing or other financial instruments on top of these DARs? Will it affect the underlying Bitcoin system, will it introduce a sort of inflation... a lot of unknowns...

If this is just ordinary storage in a cryptocurrency bank, then I don’t see much point in using such services. This may be needed by someone who has bought a lot of bitcoins and is going to keep them for years. Also, these services can be used in case of death of the cryptocurrency holder. Here it is entirely possible to provide for the transfer of cryptocurrency by inheritance. However, someone who is going to actively work with cryptocurrency, in my opinion, such services are not needed.
I thought that such banks at the same time take cryptocurrency for deposit storage with the payment of dividends. In this case, it would be much more interesting.

Spaffin

full member

Activity: 1316

Merit: 108

Quote from: slaman29 on July 04, 2019, 06:13:00 AM

Quote from: ?? on ??

I don't get it. What is it really? Bitcoin and crypto currencies banned or they're still not regulating it? As far as I know even if btc is banned in your country, as long as you are not transacting locally, there will be no problem and there is no way they can track your address since they will never know which is yours. Also, I will not be keeping my bitcoin in a Bank since that is not the reason why it is made.

There's nothing to get. Banned, or non regulated, it doesn't stop you or any user from using bitcoin, and that's the pure beauty of the whole thing. It's not about transacting locally, it's about selling it or buying it with money that can be traced to a local account. I can send and receive btc with anyone, banned or not, but if I start trading at an exchange or even in the case of US do p2p on a centralized platform like LBC, then I allow myself to get identified, and there's where the problem starts.

If you already have the opportunity to keep your Bitcoin in banks, you should stop informational speculation about the competition of Bitcoin and the banking system. In addition, the storage of Bitcoin in banks is already certain steps for the legalization of cryptocurrency in their respective countries. But it seems to me that this situation will not please cryptocurrency users, since an important aspect of cryptocurrency ownership was anonymity.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: ?? on ??

I don't get it. What is it really? Bitcoin and crypto currencies banned or they're still not regulating it? As far as I know even if btc is banned in your country, as long as you are not transacting locally, there will be no problem and there is no way they can track your address since they will never know which is yours. Also, I will not be keeping my bitcoin in a Bank since that is not the reason why it is made.

There's nothing to get. Banned, or non regulated, it doesn't stop you or any user from using bitcoin, and that's the pure beauty of the whole thing. It's not about transacting locally, it's about selling it or buying it with money that can be traced to a local account. I can send and receive btc with anyone, banned or not, but if I start trading at an exchange or even in the case of US do p2p on a centralized platform like LBC, then I allow myself to get identified, and there's where the problem starts.

finaleshot2016

legendary

Activity: 1736

Merit: 1007

Degen in the Space

It's a great platform for the bank but I'll stick to online wallets than a bank. The government has the ability to seize that money if they encounter a huge problem related to cryptocurrency. Online wallets are much safe, you can control and check it every day while in the bank, it's just the same. It's riskier than the usual thing.

I'm ok with the adaptation of the banks to bitcoin but the idea is shady when the government interferes.

Irvinn

full member

Activity: 966

Merit: 104

It seems to me that today banks cannot provide a real opportunity to save cryptocurrency for the user. Some banks lose their money from accounts that are hacked by hackers. The same situation will be from cryptocurrency. If your money or gold bars are in a bank safe, then here the bank is more likely to save these funds rather than cryptocurrency.

jpoker272727

legendary

Activity: 1137

Merit: 1000

This is new to me though i am an account holder with CITIBANK.
this is a good option to have, i just need to vconfirm it to my agent and if this is real. this is a good to have. a must to get.
Now i can see some movement from banks having crypto currency.

Topic: You Can Now Keep Your Bitcoins In A Bank - page 3. (Read 21703 times)