Bitcoin Forum

A bank called Skandiabanken in Norway now supports Bitcoin. However you cannot purchase the Bitcoins through the bank, you'll be redirected to Coinbase in order to buy.

I don't have this bank myself, so I cannot test this. It seems like it's just linked to Coinbase and the bank does not store the coins on their servers.

This feature is in a beta phase, and the laws in Norway could cause conflicts. I think this is a huge step, and I hope this will soon be supported in more banks. This feature is mainly for investors, you cannot use it to pay bills and such.

Here's a link to the article translated to English:  https://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.no&sp=nmt4&tl=en&u=http://e24.no/privat/bitcoin/naa-faar-du-bitcoin-i-nettbanken-kan-ikke-fornekte-ny-teknologi/23996559&usg=ALkJrhjVd47hlRvCuPcMw4r7-8SKmywfYw (https://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.no&sp=nmt4&tl=en&u=http://e24.no/privat/bitcoin/naa-faar-du-bitcoin-i-nettbanken-kan-ikke-fornekte-ny-teknologi/23996559&usg=ALkJrhjVd47hlRvCuPcMw4r7-8SKmywfYw)

It looks more like this Skandia bank providing back-end services for Coinbase


That means that if you have an account in this bank as well as a Coinbase account, you can buy coins directly from your web wallet (in this case, Coinbase) with money in your bank account (and likely vice versa, though I'm not sure). As such this has nothing to do with Bitcoin, since Coinbase essentially operates as an online shop here selling you something (i.e. bitcoins) and debiting your bank account like what regular online shops are doing when you pay with your bank card (it was hard to decipher this Google translated piece)

I think this is huge step indeed, but I would be cautious because well all know that banks don't like bitcoin because of its de-centralized features that is why you can buy directly but to use an exchange. But why used banks anyway when you can just buy it thru local coins or exchanges like coinbase that they have pointed at? Well, I think we should monitor and how see things work out with this setup in Norway.

Good thing for the bitcoin holders there but there is really no doubt about this success of bitcoin in many country obviously the bitcoin is already spreading all over the globe really in the future bitcoin will be the mainstream currency.

Because some people are willing to give up privacy to win in comfort and to be able to cash out their earnings easier when they are trading, so to me it makes sense for this service to exist also banks only care about one thing earning money, so it makes sense at some point some are going to accept bitcoin.

Still good news. I don't know any other bank which offers similar services, it will certainly improve the way bitcoin can be purchased.
I hope that using your bank account means that additional external verification is no needed anymore and legal issues Coinbase might have will be handled by the bank.
This way of buying coins is way easier than using standard bitcoin exchange.

Wow, that's another good news coming from that end and gradually the penetration is  happening. What is next is for them to deploy all their infrastructure to support bitcoin rather than the referral that is currently being obtained and this can be replicated to other countries gradually.

The good news, this makes BTC prices stronger, we wait for other countries to legalize this currency. Wait for BTC prices next year. Maybe with 1 BTC can get 1 Ferrari. 8) 8)

Think we might have to wait a while to get to a stage where 1 bitcoin = 1 Ferrari.
For sure though this Norweigan bank even having anything to do with bitcoin is a positive thing.

1 bitcoin = 1 Ferrari. I love it! Any body with any vision for foresight can see its coming soon too!

I see this referral approach as being indispensable if Bitcoin integration with banks is going to make any headway, other than that, the books would be opened to regulation page and all the strict requirements that goes with it outlined and we would be back at 1. I found this  bank only exist online: Do we play the Ostrich with that because this is just a desirable step?

this is a good news & we are looking forward to acceptance from another bank soon also.

Is bitcoin support part of a worldwide de-dollarization campaign due to world leaders fearing the united states dollar being $20 trillion in debt could soon devalue its way into hyperinflation hell?

What happened to the world of only a few years ago where the news media told me deficits didn't matter?

It is a good development. At least, banking institutions are beginning to key into how they can integrate it into the banking system. Sure, for a start it won't be that easy but over time it will get better. Also, like you said, I hope the law will support it.

Wow it seems that bitcoin is really being adopted by more country,
Hope that we could see other country to accept bitcoin in the future.

If I understood correctly the news is that users instead of sending their money from the bank to Coinbase and wait a couple of days until they arrive they can directly connect the bank account with the Coinbase account and make the purchase instantly. It is a faster way to do it but users should also be more careful about their safety.

The really novelty, I do not know if we will see it soon, would be that a bank gave the option to make an deposit into your account in bitcoin and change it directly to local currency or do the process in reverse, I don´t know if we will see this over time.

Yeah, we've seen Japan accept it, Australia will from july 1st and I can see South Korea or some scandinavian country following their footsteps aswell. 2017 has been a great year for bitcoin so far. :D

Its coming and it will be beautiful! Wait for it....... ;)

A bank in Norway redirects you to coinbase and you think that it would make the price of bitcoin stronger. ::) If a country legalizes bitcoin then we will see new market place being created and more investors and thereby increase in price,i really hope that Ferrari's reputation wont go down because of bitcoin. :P

yes that s really a good news to hear about,  personally do no see or know about such banks but hope that with the passage of time we will also be able that our banks will also accept bitcoin and hope that we will be able to use bitcoin in our local shops also. but still it will take some time because bitcoin is still not so much introduce in our area.

This just sound a bit, meh. Local exchanges in our country allow us to buy bitcoins using our money from most banks here. This seem to be the setup with this bank you mentioned. What I'm curious is, is it the only bank there that allow this?

It really isn't like that. I looked into OP's linked and their new service looks like a web wallet that is centralized removing decentralization feature to bitcoin though it seems to be setup like how you mentioned it. The only difference is that the bank itself owns the online banking site which is like a bitcoin web wallet itself. This can be good for bitcoin though since it might make more banks from Norway adopt it and thus will boost price.

Indeed making a bank accept bitcoib is a huge step for the development of bitcoin. We all know that bank and bitcoin haveva big difference in some aspect but it may also help by the stock and holding processes. If bitcoin want total acceptance of bitcoin for the globalization legality may be a problem but ofcourse bitcoin iw decentalized so we do not want government to manipulate bitcoin because the transaction and the price/value is the best characteristic of bitcoin users reasons on supporting bitcoins development.

wow its a great idea , in other thread i have read that the eastern are already accepts bitcoin in their country as well, hoping that many countries will accept it too. and hoping that government will never put high taxes on it.

Although they are still on “testing the waters” stage, you have to commend them for taking bitcoin as an investment tool, given how such banks  and other financial institutions are still iffy and doubtful of bitcoin as an investment. They are being non-traditional and seeking for way to give them an edge and they must be thinking that bitcoin is that edge that they are looking for.

Clement...why Ferrari?

Very accurate when you call them bank support. With the information you give, this bank only links to coinbase and launches marketing systems to buy bitcoin for coinbase. This is only a form of bilateral cooperation.

News like this are going to be common soon. Japan had already started using BTC, I think the rest of the countries will also follow.  It may be be just btc too. Ether is also accepted by Microsoft so its going to be later accepted too. All these majors coins may later be accepted by banks.

That's so wonderful in sooner time and japan belongs to asia, a possibility to happen that neighboring countries will will also be adopting it in a right time. With regards to etherium that's also a positive thing together with bitcoin implementation. Banks have been transforming all currencies to be associated and certain charges is already acquired as part of the business services profit and comfort to life really brings good effect to people.

Definitely any bank involving themselves to one of the companies that are actively promoting and using bitcoin is a great thing.  This action may make banks curious about Coinbase transaction and then investigate to know bitcoin better.  Once they saw that bitcoin is one of the better ways to create profit, they can possibly use it in their investment system and might be a big thing for bitcoin.

Getting banks to use BTC is something really groundbreaking and it truly shows that BTC has developed and gone onto another level.As soon as the banks start massively using BTC into their activities we know that BTC is being massively adopted

That's a good news for the entire users because the circulation of bitcoin increases. Secondly the concern countrymen starts using bitcoin much more than the past. By the falling years we can get more such news, because after the acceptance from Japan more Countries have started to prioritize digital growth.

I agree with you but I hope the support will be fully backed by the Norwegian government and hopefully other European banks will follow up. It speaks well for all Bitcoin enthusiasts because our currency is gaining more grounds by the day.

European countries accepting Bitcoin would be nice thing and spread across the different continents which will dustribute the Bitcoin properly and to everyone else in different parts of the world. Seems like there will be a lot of countries to accept Bitcoin before the year ends.

I never bought anything at Coinbase, so bear with me

But as I understand it, in general you can buy bitcoins directly in your Coinbase wallet, and this shouldn't take a lot of time, just like you pay with your plastic card in an online shop when transactions are near instant. As I see it, purchasing bitcoins at Coinbase shouldn't be any different from purchasing any other goods in Internet. Regarding this Norwegian bank, I've seen some "banks" from that quarter of the world which are not genuine banks (in the way we think) but rather brokerage firms (despite the fact that they have the word bank in their name)

banks are essentially service provides with money. and since bitcoin is money and it is getting a lot of traction these days, it is obvious they want in on it. if they start accounts giving profit like what they do with fiat they can attract a lot of funds and then use those funds for whatever they use fiat funds for and make a lot of profit.
not to mention all other methods of making money like giving loans, credit cards, ...

Actually this is not good for bitcoin. They are implementing bitcoin and scratching the block chain technology and creating their own digital coin. First implementation already started by citi bank new York called Citi coin. These kind of move may find a equal range of currency may create among the people.

Japan has motivated other countries on making bitcoin legalized and now it is being followed by other countries.  I also heard XRP also will be accepted by few banks and it will really create a race among altcoins also. I think news like this will create an more healthy environment for bitcoins  and bitcoin volume and price will increase further with news like these.

Yes, accepting bitcoin is always a good news to every user who uses bitcoin and also bitcoin is being accepted by banks is the another reason makes me happy because till now there is no that directly supports bitcoin. But European countries make a forward step in accepting bitcoin this will boost to other sectors who are still not accepting bitcoin.

I don't think that it is "actually" not good for Bitcoin

First, they either "implement" Bitcoin (I guess you meant to say accept it) or create their own coin, since these two options seem to be mutually exclusive. Second, banks (as well as other government regulated entities) cannot create their own coin (read private money) since creating money substitutes (surrogates) is strictly prohibited in many if not all jurisdictions (some companies tried but were quickly made to abandon such efforts). And last (but not certainly not least), any such coin would actually contribute to Bitcoin popularity, not take from it. People will use the wannabe Bitcoin killer for some time and then switch to using good old Bitcoin

this is the reality that we have better option than this bank system to buy the bitcoin because we can buy Bitcoin through debit card credit card and direct p2p , without any risk .
So why we will go in this complicated way to buy and sell their Bitcoin with this complicated thing .
But surely this is a good step for the Bitcoin future because if the banks will be connected to the Bitcoin then of course the Government of that country will take the better action to add the Bitcoin and probably it may be possible that they can declare i bitcoin as a legal way of payment and investment .
Here I also things that after the Japan , the Norway will also declared Bitcoin as legal with some rule of  taxation system .

It is too early from next year although I think if Russia as declared confirms to accepts bitcoin as payment system in the year 2018 it will be a huge step for bitcoin. I am predicting the price of 1 Bitcoin near the 10000 dollars next year. This Norwegian bank is a leader in being the first bank I think to accept bitcoins , no problem if this feature is only for the investors in this moment, it will be available to the masses after it is tested with investors, that's how a bank operates. I only hope the laws in Norway do not cause conflict with this bank.

I've also heared that some banks are experimenting with Bitcoins or even offering some limited services connected to it it but to my opinion this are isolated cases and it will take long time if it ever happens to become normal thing that banks and traditional financial system to support Bitcoins

 Banks have always treated bitcoin as their main rival.But these developments shows that banks could no more avoid bitcoins as its importance is growing more day by day.So in order to survive,they have to adopt friendly approach with bitcoins.Thats the truth.

I'm afraid this is nowhere near the case

If you think that Russia is going to accept Bitcoin, you may have to think again. All they said (more specifically, what the Russian Ministry of Finance proposed) comes down to regulating Bitcoin as a sort of "financial product". As to me, this is a far cry from accepting Bitcoin as a payment system. Apart from that, if the Russian government starts keeping a close eye on something, it typically doesn't bode anything good for it. The bottom line is that you shouldn't be overly enthusiastic about these proposals

That is a very great news and I think the next step is that people in Norway are going to invest in Bitcoins since even their banks have placed their trust on it. But behind the scenes big people behind the banks are actually buying a large amount of bitcoin so they can have huge profits when the time comes. Just like what happened to Japan, the 3 largest banks in Japan have purchased a huge amount of bitcoin last year and the reason is that they are preparing for the adoption of bitcoin in their country.

When I saw this thread my heart leapt with joy and I knew gradually we are getting there. Bitcoin is gaining attention and grounds in different parts of the world. Countries are adopting and graciously now banks too so I'm happy over all for the recent successes we are chalking

Yep, and that's a good thing IMO. I think that bank in Norway is not alone in supporting Bitcoin nowadays. They just have no other choice if they want to be afloat in the future. Fortunately Bitcoin is illegal in a very few countries so mainly banks have no restriction to adopt BTC.

Such a good news for bitcoin. This is what i wish for bitcoin, a cooperation between bitcoin and also in banks and not replacing or dominating each other because bitcoin and bank is just in one page and that is all about money and that is why it is a good news for bitcoin by accepting bitcoin for an alternative on their bank.

Yes it is good news for growing of bitcoin because the bank starts adopt bitcoin and support bitcoin
 the bank that adopt bitcoin will become more growing up too,
they follow the new technology in internet, bitcoin and blockchain is something new
 the Banks will getting new costumers because of adopt bitcoin.

The amount of revenue coming to banks as a result of exchange activities from bitcoin to fiat and vice versa cannot be under estimated and I think thats what the bank in Norway is trying to exploit taking into consideration the dicey nature of the law around there and that is why they are not selling directly so they refer you just like they would refer any of their customer to any entrepreneur who has agreed to work with the bank without them being responsible but hopefully things will get sorted and there wont be for any unnecessary intermediaries.

This is good news for us who interested in bitcoin. I think another bank should follow them.In this way bank and bitcoin relationships so  much strong. People going to  bank know about bitcoin.Bank are generally work in money and bitcoin is money. So no problem of bitcoin work with bank.

That's a bold statement from the Norway bank, and this will lead support for more banks to adopt this kind of technology. But this bank has no branches and does transactions online does that raise any issue, or the fact coinbase.com will holds coins is valid. Though this is a welcome move, another thing that is worth thinking if the tax authorities of Norway demand details will the bank be forced to give? As we know Coinbase.com does not give details this is one issue which needs to be considered. Right now it's in beta phase, and it will be interesting to see how other banks react to this and will other banks follow suit.

Its sound good to know that more an more banks are supported by coinbase to purchase bitcoin. But the level of KYC policy coinbase have may cause problem for users later on and Norwegian government may impose tax on every purchase made through coinbase.

You should have also read the thread before:).
I's not a bank doing bitcoin operation.

They are just doing a partnership with coinbase.
The bank will still deal in fiat.

It's similar to the bitpay way of accepting bitcoin payments.

they are not really supporting bitcoin, they are supporting the idea of people using their bank to transfer money in and out of some service (it may very well be anything instead of coinbase) and the bank taking a lot of fees on the transactions they make!

The more banks adopt it the more regular people will. This creates more demand. More demand will increase prices. I just hope banks dont go crazy and try to mine and ruin btc, that is my fear.

Good to hear that news. Hope that more banks will join our force and help Bitcoin to become the greatest currency on the planet. I am so excited to see bitcoin replace dollar in the future

I am sure we are not going to see anything of such unless strict regulation first takes the center stage otherwise that would be like  preparing a feast for the criminally minded ones among us. The question begging for answer however is, whether a bank is indispensable for the survival of Bitcoin? My answer is a big NO!

I think the bank is not support for bitcoin because we will be redirected to coinbase in order buy bitcoin
we know about coinbase to buy and sell bitcoin, should the bank doesn't just redirect to coinbase
but they gives the service to buy and sell bitcoin on their bank, it is mean they are really support bitcoin
because on their bank there is fetures for comunity of bitcoin to buy and sell bitcoin and make easy to getting bitcoin.

Little by little Bitcoin is now being recognized as a tool by many banks. As the users of Bitcoin will rise, am sure that many other entities in the banking sector would take a look at Bitcoin and how they can be able to partnered with the cryptocurrency so as to facilitate better transactions and get more income as well. Banking is all about money...when they sense they can get income from something and it is legal then they will go for it.

Yes, when people understand that this is legal and can be earned with bitcoin, the number of users will increase significantly and the price will also rise very well.

I think the same thing about it where the banking system in the future will be eliminated with bitcoin

Banking system will not be eliminated by bitcoin because they will not allow this to happen and banking is one of the common money transaction that you can do and without banking they cannot control the flow of money which will lead them for a panic situation. I think bitcoin will be just partner by banking system and there will be no elimination.

Its going to become more and more common for banks to make partnerships with bitcoin companies as it gets more popular. I don't think banks currently see bitcoin as a real currency but rather as an investment product they can offer to clients who are interested in the cryptocurrency concept.

This Norwegian bank hasn't really done much by just redirecting to coinbase but its a first step and there will be more and more interesting partnerships coming out merging the established system with bitcoin.

Yes, bitcoin can become only a partner for the banking system, if it can survive numerous developments of competitors.

It's very rarely to see the banks collaborate with bitcoin company since they are only interested on technology behind bitcoin the blockchain not the bitcoin itself cause they think that bitcoin is such a competoitor for them. However it would help Norwegian to purchase bitcoin directly with their fiat. Btw how are fees applied when people buy bitcoin through this bank?

Nah, i don't think so they "the bank or even the government" will not adopt bitcoin as their official currency since they can't control it. The only thing that they can do is transform their traditional system to the new system using blockchain technology, as you can see the government and financial corporation in some countries are learning this technology.

That's good. But i doubt it will be good for bitcoin holders. Banks and bitcoin are against each other. But  that's interesting see the progress of that. I saw also an upcoming bank that will accept bitcoin. Its Polybius. Let's see if this project will catch interests of people. Good luck with this project.

Yes, basiccally the Banks doesn't like bitcoin because the bank is centralization
but all of us know bitcoin is decentralized,
 it will not be successful on my opinions even the bank on in Norway
can not do purchasing bitcoin on there, just get bitcoin on markets of digital coins.

Oh, cool. Ours is just an exchange, though it links to every major bank here. They're currently only working with btc and php thought I heard they're planning to include str.

Now that I thought of it, it would be cool to have an actual bank provide this service. Maybe there's a separate wallet in it for btc and fiat and you can send your trading profits to either and have that used to top up a cash card if you use one.

Great information for the BTC, a new currency acceptance, I am always interested in BTC and read almost new relevant information /

This is a good news that a bank do already recognize bitcoin but doesnt mean they do store it which is somehow useless at all if they do redirect users to coinbase and its just like all the same on purchasing directly to coinbase.Seems like they are just making partnership? What you think? I would rather choose to use my own bitcoin wallet than bothering on buying btc through banks.

This has been growing more and more. In a recent news got to know about Ireland's biggest bank had made tie up with several other banks to function based on a ethereum based blockchain technology for all its domestic payments. Soon can experience more and more similar acceptance from lot of banks.

And people will be using blockchain technology indirectly without even realizing it. That is the future of blockchain for technically incompetent people, they will use it in all walks of life without even being aware of it.

This comes as no surprise, many banks have started to do this. They obviously see the danger of loosing control of money flow and people going towards BTC. So the only way to get people to keep their cash with them is to support BTC. It really shows their weakness, for many years telling people to not touch it, and now saying ah yeh we support it, just keep it with us, which most people unfortunately will because they think its safer that way.

I used to think that bitcoins would stop at $ 1800, however, more and more countries were adopting bitcoin, which made it legal, and its value rapidly increased. And I believe it will go up even higher, this can be a good investment opportunity.

In the future all banks will offer Bitcoin accounts for there clients.

I'm not sure in that, in my opinion bitcoin users doesn't needs banks, bitcoin already have all functions that banks offers for fiat currencies. Maybe but only maybe banks can offer something unique to us, but I have no idea what that can be, it will be interesting to see what will they do about bitcoin, because in my opinion bitcoin is a big threat for banking system.

I'm not sure that bitcoin is a big threat now. In my opinion, bitcoin is an interesting startup now from the banks' point of view, they think that bitcoin can be a real competitor for the banks in the future. Banks are trying to develop a similar but centralized system for their own purposes, they won't use bitcoin directly. Maybe they will let the people buy and sell bitcoin like a commodity or make it easier to buy/sell bitcoin thru bank account, but they won't let bitcoin to get integrated into their systems.

And the best part is that we are past the middle of May so there is a lot of things that could happen in the rest of the year, and that could really make the price skyrocket even more than it has done in the past weeks and months.

That's what I'm thinking as well. When one company does something, other companies tends to do the same. I think it'll be the same with the banks. A lot of stuff could happen this year. Let's hope that the customers of the bank will like the feature and give positive feedback.

I would agree on diesik on that terms. It is much more likely on a oline shop platform and not much more on acceptance, I doubt thwt it was stated there that you can sell your btc to that bank right? But instead you can only purchase btc and only in the coin base

Banks in Norway have supported bitcoin may banks in other countries support as well.

Is there any bank in Indonesia that support bitcoin ?

Hmm, sounds like the common way of simply being able to link your bank account with coinbase the same way coinbase can be linked to other banks to fund a coinbase account or to sell BTC and directly get fiat deposited into the bank account.

Bitcoin is really improving the country. Many people earn bitcoin income. Bitcoin is a coin that the bank will accept.

Truth be told, this bank is simply out to cut its own cake out of something that is trending and full of potentials and not necessarily an acceptance, the two should never be mixed up. And acceptance sure cant work because it would be against the interest of the authorities that regulates the banks.

This is a good thing and make a bitcoin continue to be taken into account, many people thought the bank would make a bitcoin disappear, but I think banks and bitcoin can work together to make better world.

They cant really be mixed up and as you said they do really have different fields and knowing bitcoin it cant be regulated and I think we should not use the term support since its just being used and let you direct to coinbase which means its not totally an acceptance of bitcoin but its just a service which would somehow adds up some money for them.

This is the thing we look forward to all. Of course an integrated thing with other services can make bitcoin better. The bank will be more and more demand, will many people who use both services. And this will all impact on the rise in bitcoin prices.

Wow that's awesome!Hopefully we can also have a bank like that here in our country.That would be one of the signs that bitcoin is starting to conquer the whole world.

The two should never be mixed up because banks and bitcoin are different.
Only newbies or die hard government haters believed for more than a second bitcoin is going to replace banks..
How?

I want to take a loan, where do I go? To the shrine of satoshi and pray?

This is a good thing for all of the bitcoin users all over the globe and a good sign that bitcoin is spreading all over the world i guess it is starting in norway and probably in other country too where they will start accepting bitcoin this last month i heard japan accepting bitcoin as a currency too so good news for us whos a bitcoin holder.

Thats a great news.Usually banks treat bitcoin as their main rival as they would loose a major part of their revenue which they get from transaction fee.But due to the changing environment and market pressure,banks have to provide service which customers prefer.So they have started to change their attitude towards bitcoin.

Agree.
2017 is a good year for bitcoin.
There's a lot of great happenings lately.

You got the point! I hope you are right! I am loving how the price has risen more than $1000 in only a month’s time. I don’t know going back to the OP's statement how a bank can accept bitcoin though. With the price always changing and since nobody really knows what will happen to the currency it doesn’t really make sense for this to be going on. I don’t know maybe I’m missing something.

I never visited that part of the forum myself, but folks are saying that there is a whole board meant specifically for loaning out and thus taking loans in bitcoins. I for one wouldn't give you even a single satoshi (you don't look trustworthy to me) but someone may be willing to help alleviate your pains if you are seriously looking for that (not for free, of course). Though I have doubts that you really want to take a loan

Since otherwise you would have known where to ask (for a loan)

It was only an example, I guess, to indicate that Bitcoin needs to improve to really be used for lending and borrowing. Now, there are just a few guidlines to decide if someone is eligible for loan or not.  Lenders' risks are only covered with a few kinds of collaterals, mostly accounts (login details kept at escrows). If someone defaults the loan, lender can only sell the account. This works as long as the accounts are sellable because of signature campaigns (if someone is not patient enough to wait to get Full or Senior). Interest rates are higher than in the real life (because of the higher risk). If lenders can cover their risks somehow in a more efficient way, interests will drop, and it will also help lending and borrowing.

What you said is true, indeed

But you should not forget that banks are free to take as collateral whatever they might see appropriate since they know the identity of the person looking for a loan. Right now, loaning out bitcoins is a very risky business for banks (as has been explained numerous times) but banks are certainly not the only ones who can loan money. Some individuals are doing that in real life, and they make a living out of that. I guess they could loan bitcoins too if there was demand for Bitcoin loans

The European Union nations (or at least the majority of them) have been sympathetic to cryptos like Bitcoin till now, unlike the United States and certain Asian nations (such as China, Vietnam, and Thailand). Good for them... in these countries, the tax revenues will rise, and the unemployment will decrease in the near future.

Nice!
As time goes by, bitcoin was accepted in a lot of countries and I can say, this coin improves a lot. :)

That is good that many countries now adopt bitcoin as there additional on there currency. If all countries adopt bitcoin as a second currency i think bitcoin it will blow up and no one can stop it.

Yup, that is mean the corporations, government and other people had knew about the new technology of digital currency include the Banks so they has adopted bitcoins on their business, bitcoins is growing up right now in the future bitcoins will be the new gold and the altcoins will be the silver, they are good for investing in them​ especially invest in ethereum and bitcoins.

Your idea is interesting: "bitcoins will be the new gold and the altcoins will be the silver"
This makes sense, if you think about the limitations of current blockchain, bitcoin will be a kind of value holder thing like in the middle ages and alts like etherum, or any other alt that can speed up cheap low value transactions can act as the change in fiat.
In this case you will keep your bitcoins in offline/hw wallets and use alts for daily purchases and transaction with web wallets or mobile wallets. It will be possible that different kind of merchants will use different alts (different speed in transaction confirmation, needs faster for taxi and slower for a cafe or restaurant...)
Banks can join this ecosystem like a trusted part to help people keep their bitcoins safe (normal everyday people needs someone to trust and they don't have the knowledge to create secure offline wallets etc..)

It is not surprising that there are banks that accept bitcoins, even though through coinbase. Very good news, if this bank succeeds and gets a lot of profit, surely another bank will follow its steps to use bitcoin, we all hope so

With the support of many banks from the country, I hope later bitcoin really can be received in all countries in the world.

I think it's better to wait and watch how this experience works... The only reason I would use a bank service to store Bitcoins is if they pay interest and if there is any guarantee about it, like other centralized banks with fiat. Also, must see if the fees they will charge aren't so high.

I might had read it wrong but looks like just those bank is allowing people to buy and sell bitcoins from coinbase, soo there isnt nothing new, the exchanges where i do live does support all banks, i mean you can deposit anytime into their accounts and go purchase bitcoins. If the bank would trade directly it would be another question, but the law would go into the bank forcing it to close those service.

Yes the trend looks promising and I'm likewise hopeful for a global replication of this act from the Norwegian bank. It's laudable and I think Europe can chart a new course into cryptocurrency with Norway spearheading.

Yeah, in my country some store accept use Bitcoin to buy car, motobike, smartphone or buy coffee, although it only by personal. But I hope in future, Bitcoin can buy more than and become to digital cash important in the world's

No, you've read it right.
But you're part of the tiny 0.01% percent of users here that are actually reading.

There is no bank accepting bitcoin they just launch a service where you can buy bitcoins directly with your bank account from coinbase. That's all.

They do not offer bitcoin deposits they do not offer anything else.
Just like you can pay you energy bill directly now you can buy bitcoins.

But people like to blow stuff out of proportion.

It is still a news, bank that allow a service and support them to use their service is a news.  Other banks won't mind.  The fact that they are allowing coinbase to use their service is an indirect support to Bitcoin since, Coinbase have to declare where are those funds coming from. Unless you think coinbase is not declaring that the funds came from Bitcoin conversions.

This is good as more and more banks support bitcoin I will be able to travel better. I was actually planning to go to Norway and now I have a better reason to go there. I wonder do they have any bitcoin atm? It would be a good picture to take with one
I don't know if bitcoin atm are any good but at least it's a novelty item

It's good news that a bank is acknowledging bitcoin, however in practice redirecting to someone to coinbase for a purchase of bitcoin isn't really "supporting bitcoin". If they really supported bitcoin then they could add bitcoin banking options, and treat bitcoin like a foreign currency.

You can buy bitcoin with coinbase in the US, but are US banks supporting bitcoin? Think about it. They merely act as a money storing and transmitting service for people who trade bitcoin, nothing else. They can add coinbase api too to their website.

But I'm not trying to say that this is bad, it's good. However banks are something that bitcoin was created to rid of in the first place. We don't need the SEC or banks to acknowledge that bitcoin is good to have a successful blockchain.

I think thats for sure, as more countries recognizes the bitcoin as a legal payment aid. Also, this blockchain technology is something new that even remittance giant western union are utilizing its potential.

It really is not the bank itself but the coinbase who offer the service thru bank. They deposit through bank and coinbase will process. I'm hopeful that one day they will consider Bitcoin to be a part of their monetary system.

Wow,that is really a great news for bitcoin.
It will become more successful because
another country recognizes it.

I am sure there would many people in Norway who are and can be interested with Bitcoin and this move of this bank can help those people who are thinking of getting into the Bitcoin bandwagon. Though this bank may not be so big but this move can be on the news and can stimulate other banks to also offer or facilitate Bitcoin for their clients.

As we always predict here, soon there would be many establishments/institutions in the financial sector who will look at Bitcoin with serious eyes because primarily it is truly a profitable vehicle. We are now experiencing falling interest rates making depositors edgy as their money is earning almost nothing...and once they see Bitcoin they can be so amazed and excited.

s-banken, the former Scandicbank says today, 27.1.2018:


"Yes, but it's only a view of the stock in Coinbase

You can not exchange the crypto currency through us

It must be done in such a crypto exchange bank

Initially, it will only be possible to see this stock in the BETA bank."


so I guess nothing but PR

This is really a great news! I think legalizing and using bitcoin in banking system is the greatest way to create an idea that bitcoin really is secured and has a lot of benefits. Bitcoin is the most convenient way of saving and earning money at the same time. I hope there are more countries out there who will follow this step.

Norway is an advanced European country, and the fact that at least one of its banks supports bitcoin is great news. And although there is not much point in using the bank, if you have bitcoin, since it is enough to keep it on your wallet, this news will allow the crypto currency to stay more confident in the world, as it is increasingly recognized.

the around the bank industry world are trting to business of bitcoin.the norway bank related to bitcoin process that support to bitcoin are used to bank.the based distributed are banks and financial institutions of market.technolgy development of bitcoin to some banks invoved to systamatically process.the norway bank of good industry to btc. the market and price involved and supported to bitcoin based on norway banks to related of business

You have also to consider that both if you want to buy or if you want to sell Bitcoins, at some point you need an interface to FIAT, since nobody is born with a wallet full of Bitcoins. If bigger sums are involved, a bank is needed, since that's where the FIAT usually comes from of ends up. So welcome to Bitcoin-friendly banks, versus banks which would close your account if they find out you are getting money from cryptos.

I agree it is a huge step in banks workd, Japan, Norway more and more people understand importance of blockchain technology.

Certainly not all banks are controlled by a large banking lobby. There are bankers who want to squeeze through the users and the banking system. You may realize that the end is near. You need to borrow places in the new economy now.
Unfortunately, I can not say that this is a process, rather it is an exception to the rules.

This could be a huge step forward in easier accessing bitcoin. Even if It's just backend services to coinbase, it should make it easier for some people. And yes, we have to be careful and check it out. Banks are not exactly what we're waiting for. But if the Norwegian government does not object, it is a huge step forward for bitcoin.

It is good to see the News about  bitcoin every now and then. Bank in Norway now supports Bitcoin and we hope in future bitcoin is going to be only option. I wish other country also try to get the system.

It is a faster way to do it but users should also be more careful about their safety. And it is a good development.

There are good news and bad news but what prevailed today is the bad news as people are doing panic selling.
I am hoping that after this panic selling this positive news will be widely accepted to people so they have a good reason to buy, it's always time to hold
and just let this finish as for sure if bitcoin will not end, it will bounce back hard.

Norway is always the first country in innovation!All new technologies are here)I'm glad to hear so promising news)

Good to know. I wish other big banks would do this and support bitcoins and other platforms like alt coins as well. But I can't say something about the security and the fees that come with having your bitcoins stored in a real life bank. It's really up the owner to which route he will be taking his bitcoins.

At the very least, banking institutions are beginning to include how they can integrate it into the banking system. Of course, to start it will not be that easy but over time it will improve the news is that users instead send their money from the bank to Coinbase and wait a few days until they arrive they can directly link bank account with Coinbase account and make an instant purchase . This is the way it is

That’s good to know, I think bitcoin continues to become a true currency, this moves by Norway proves that banks and Bitcoin can co-exist. I think as bitcoin become the prime choice of currency for internet goers, banks and the government will recognize its value and will devise a plan for them to have a mutual relationship with each other. Bitcoin will continue to grow and there will people who will constantly support bitcoin.

Wonderful ! As Norwegian banks supports Bitcoin, So I think rest of progressive banks around the world will follow up. The Asian giant Japan and South Korea are following their footsteps as well. Rest of the countries where Bitcoin is fully prohibited , I hope they will also relax their law.

Good to hear news like this. Crypto exchangers partnering with a bank is a huge step indeed. Crypto people in Norway because it'll be much convenient for them to trade in Coinbase and when that happens there'll be more clients coming into that bank. I just hope that this partnership will be successful and won't have any problems with the government laws there. If other banks will see the advantage of this, I am sure others will follow.

This is why i believed that not all banking system is against bitcoin in which here in our country our Central Banks of the Philippines is very supported in Bitcoin and other digital currencies too. Instead of banning Bitcoin they just release a guide list on how not to become a victim of scam ICO and some investment sites that are using Bitcoin platform.

if the bank in norway supports bitcoin why can not we buy bitcoin there? why through coinbase? does the bank merely act as the transactions between world currencies and digital currencies?

That is a great news to know that there are now banks that accepting bitcoin because that is a sign that bitcoin is really getting some progress in the overall aspect that it is getting adopted and accepted in some of the banks in some countries and i hope that more and more banks and countries will be involved in the cryptocurrency for us to have a better coverage for our cryptocurrencies.

This is good news, now bitcoin has spread all over the world, with more countries that legalize bitcoin, will make bitcoin growing with its growing interest, hopefully bitcoin can be received in the country that is now still prohibit it.