Bitcoin Forum

Hey ,

Has anyone talked about or tried creating a legitimate bitcoin bank?  I'd love to be able to lend my bitcoin to a bank and generate interest for myself  :)

there are exchanges that essentially fulfill that already, you don't really gain interest because it doesn't work the same way fiat currency does sitting in your bank account. i recall a few websites may offer low interest rates for holding your bitcoin but it doesn't seem to hold much purpose since bitcoins volatility makes it a horrible choice to gain interest on.

Their is they called P2P cryptobank but i dont know is this a savings btc bank or related to your inquiry. If you really like something that fiat bank will do then we should wait that  digital currencies will take over fiat currencies in which the banks can easily to shift from fiat to digital currencies because they are already used to digital transactions too but for the main time we will just rely on wallet.

Gold and diamond are understandable because their price increases with time without doubt, but if you think about the idea of giving your Bitcoins to a bank it will shatter down very easily since the value of Bitcoins isn't fixed and revolves ... Also it is what makes people scared to invest in something like that.. soon enough the bank won't be able to function.
Also instead of buying ..their own Bitcoins idk why will they ask from others.. Because if they really are interested in .. something like that...their first step would be to buy Bitcoins themselves.

I don't really see the need for it yet. Denominating loans in crypto doesn't really make sense at this stage due to the volatility. However over time as we start to see more stablecoins it may start to make sense

There are already available banks for bitcoin, they are called wallet. These wallets has program for that. Aside from generating interest, you can also do trading. Its like all in one bank for bitcoin. Go and find legitimate wallet for bitcoin and try to discover and learn there processes and features.

You do realize banks are regulated by their country of origin, right? Do you know of a country that people would trust which would allow a bank to pass regulatory approval and not use their local fiat?

Exchanges are the closest thing you will ever see to a bank (except they don’t make loans) and you can’t trust them.

A want what?

The answer is simple.   What is needed is a bulletproof exchange.... and better yet about a dozen of them across a dozen countries.

it goes against bitcoin's purpose if you ask me!
when bitcoin was created, it was meant to be in a way that you don't need a bank anymore or any centralized service like that. you do everything yourself. make new coins, hold coins, spend them, receive them,... now to go back and create a bank that we cut out of this system of payment is not only weird but also against the nature of it.

I think wallet is a bank in the world of crypto, the wallet function is the same as a bank in the real world, this is my opinion, maybe there will be a special bank crypto, but I am more comfortable to store my coin in the wallet, (the wallet is trusted in our country)

I think there are already some online Bitcoin banks but I don't know if they are legit and reputable because I never tried any of them and I think Bitcoin bank is not a good idea and useless, it doesn't make any difference in storing your Bitcoin in an online wallet/exchange. And why would you use a Bitcoin bank if can secure your Bitcoins and serve as a bank by yourself. If you are looking for a platform that allows you to lend your Bitcoin, there are exchanges that already allows you to do that, like poloniex and bitfinex, just do some research on how to do it.

I am pretty sure that Bankera are already doing this although they do have their own coin to service this. You can also deposit Bitcoin, Ethereum etc and they are using Spectrocoin as their exchange

It's funny how people want a bitcoin bank when bitcoin was meant to be the opposite of banks

From a theoritical point of view its impossible and nonsense,First of all you need to define fundamental aspects of blockchain structure,because this question is not serious..
I have doubt that you don't understand what is bank.Why do you need bitcoin bank when you have the most secure offline wallets to keep your funds?  Bank is a financial institution wich is created by license and they are implementing entrepreneurial activities wich are oriented on money,they have their central administrator wich controls personal information about all bank users,Just imagine,its not cheap and there is no anonimity when you use bank service.if it was possible there would be need to creat legislative basis for this.but all we know that bitcoin has different goals...

there is some news that I hear that many developers are discussing about crypto banks, there may be some that have been realized. but only in some countries, it still has not flooded the whole world because many countries still have not legalized cryptocurrency :D

There are some projects trying to create p2p lending. Maybe you can call this Bitcoin Bank.

Meanwhile, Poloniex exchange has this feature for you to lend your Bitcoin and some altcoins to earn interests.