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Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why? :)

Still dreaming looking one day have bank crypto in my country, cryptocurrency still illegal transaction in my country just allowed as investment but illegal for transaction payment, maybe hope bank crypto in my country just dreaming while you sleep.

There are already the concepts of a bank solely based on cryptocoins. Some of them are regulated ones. They takes crypto as deposit and provides loans in crypto. Some of them even provides cards to do your daily transactions. NEXO, Clesius, Crypto.com, Blockfi, etc. There are also decentralized solutions like compound.finance.

Yes, that's against to the purpose of crypto for decentralization although some altcoins are actually open to this idea and be governed by the authoritative agency. I still see this as an idea that's hard to execute but I think some countries or company are looking to this already.
But once this has been established, I don't fully say that they will be secured as the banks today are also being attacked by hackers.

there are a few actual banks of crypto if you think about it
the most well known one would be Coinbase ;)
CryptoCapital is another i have heard of that seems to be established but ive never used them myself

Bank of Crypto are real and they have a multiple benefit over the traditional banks.
They being universal, would maintain a similar interest strategy around the world and controlling interest rate and economy. People in low interest economies would get high interest on their deposit while people in high interest economies would get low interest loans.
They would be a medium for investors from developed countries to invest in rapidly growing economies around the world.

Well, there are already crypto banks around, or at least they are claiming to be. In fact, in Switzerland crypto banks Sygnum and SEBA are already approved by the authorities. Read here: https://www.swissinfo.ch/eng/licenses-awarded_-world-s-first--crypto-banks--game-changer--for-switzerland/45187400, https://cointelegraph.com/news/swiss-crypto-banks-receive-licenses-from-financial-regulator. I guess Bitwala is also offering crypto banking services.

In principle, it is ironic to start a crypto bank when in fact crypto in itself is a response somehow to the banking system and industry, which we consider greedy and an unnecessary third party. Crypto owners can actually keep their own coins safe without crypto banks. We have hardware wallets, for example.

Some exchanges are already offering lock in period with a fixed return which is like time deposit in banks. Is Binance the only exchange that offers fund security to its clients? Although we don't know how deep is there security funds currently but sure it cannot cover all the amount yet. But a good start by Binance. Blockfi also offers crypto time deposits and loans with collateral. These are just few of the companies that are starting to venture like what banks do.

I think the hardest for a crypto bank is how to get an insurance from companies. Maybe this is doable but expensive and with low maximum. In the future this may become easy to achieve as we are turning to become more dependent on internet.     

 

I don't think there is a need for a crypto bank if it's just to secure assets. Just buy a stable coin and keep it in a very safe place such as a hardware wallet. I think this is very efficient rather than having to save in a crypto bank. We have to pay storage fees, and do other administrative actions, troublesome.
Even if there is a future, it seems like there aren't many people who will glance at the crypto bank.

Will a bank of cryptocurrency be appearing soon? I don't think so and the answer to that is because it would be hard to get something like this approved by the government or regulators. And yes, this very idea is defeating the very essence of cryptocurrency. However, if there is really a big demand for this service then there is a big chance that an entrepreneur can take the risks and offer this same service to the targeted market. But I am sure it would not be easy and maybe it may not worthy at the end. The concern here is protecting the digital assets but there are now many ways we can do that without transferring the assets to a middleman which is actually also a risky thing to do...what if the bank can be hacked or if there is an inside job or maybe if it will go bankrupt? Assuming that I have a good hoard of Bitcoin, I prefer to store them in a hardware or cold wallet instead, just making sure that I have the keys with me hidden somewhere safe.

I don't think it's hard to store and protect cryptocurrencies as long as you had taken the correct measures like

• Create an air-gapped laptop as your storage
• Buy a Hardware Wallet (Ledger, Trezor, etc.)

For sure, there are additional ways to create a secure wallet, but I don't think it's necessary to have a middleman again. Unless it's for escrow, making sure about the transaction or something. That's the critical part for me, to have trust with the one you are transacting with. I'm one of those people who don't see this as a necessary part of the cryptocurrency space. Just like you said, it defeats the purpose.

Of course, it's a nice concept to maintain the quality and security to this platform, but the institutional format always not brings a good result to this platform, When people don't like to go the conventional bank for investing or depositing their money then how they could go to the crypto bank? it may see the light of hope if the crypto bank will be based on the fully online system because most of the countries are not giving any legal permission to run this system, so the crypto bank may face various types of barriers, on the context of the store and protect, I think Coinbase is doing well, and also some wallets are working regarding this issue.

The term Bank of Crypto is ambiguous because cryptocurrency was created to eliminate the role of third parties such as banks. I don't think Bank of Crypto is needed because everyone can have a wallet freely and securely

We do not know how such a bank will be accepted by the community. Nowadays, if we consider the growth of the security problem, it can be useful but, I assure you, including myself, those who do not agree will not be less. Actually I have seen something like you are looking for. Check out World Bit Bank (https://wbb.io). As I remember, they wanted to establish a decentralized system that provided us with the services offered by banks today. I have seen the project last year, and I am unaware of how they are going on right now.

a bank of crypto is not needed for cryptocurrency users, especially banks of crypto that are managed by the government, this will only hurt the asset owner, why? because there will definitely be taxes to be paid, because the government can freely supervise the owner of the crypto, that's why I disagree.
if indeed the bank of crypto is managed by the private sector then maybe it can be thought of, but why should there be a bank of crypto if someone can save it in a safer place?
but whatever it is we do not know what happens in the future because there is always a new possibility in the world of cryptocurrency.

I think this is impossible to happen because all we know that government is against to crypto. So how can we build a crypto bank? And if there will be a crypto bank the real use and essens of crypto will not be applied which is quick and no hassle. All we know that bank transaction is too slow and if we talk bank it is not 100% secured because many banks are now reachable by scam and fraud.

But wouldn't it be against the concept of crypto currency if these crypto bank thing is controlled by authority or government official's involvement? I feel if this happens then they will slowly start dominating the crypto world one by one and not sure where this will lead us. I have seen someone tried opening bitcoin ATM in and he got arrested for the same.

Crypto is partly designed to counter the concept of bank, of middleman, or of third party and so I think it is not a good idea. Crypto is very personal in that you are holding what you truly own. This will be put into waste with the idea of creating a crypto bank. A crypto bank will make a decentralized currency centralized with a central storage of coins with a central caretaker, whom we could not trust to safe-keep our coins. Instead of cryptocurrency imitating the old system, let the old system imitate crypto.

Yes, Bitwala offers crypto banking services too.
There are more crypto bank services out there which are Wirex, Revolut, Bankera, Ally Bank, Simple Bank and many more.
in principle this might look ironic but we can not help it since keeping the coin safe requires technical skills and we can not learn it all in a few days.
but with crypto bank service, we can be at ease storing our money inside of it without afraid of a hacker or gets phished.

I think a cryptocurrency bank is a bad idea. decentralization will be absent 100 percent. think about this: the bank will be able to do anything with your cryptocurrency at any time.

That's certainly true, mate. But even if some exchanges are offering crypto financial services, they're not considered as "Banks" by governments worldwide. I believe that these exchanges would need to face certain regulatory hurdles in order to be classified as "Banks" in the future. The trend of DeFi (decentralized finance) is rising like never before, giving people the opportunity for them to be their own bank. If successful, then there would be no need for a "Bank of Crypto". Well-known centralized banks of today, are much more comfortable handling Fiat currency than anything else. They'll be quite skeptic about crypto, since it's still largely unregulated. Not to mention, crypto prices are extremely volatile while Fiat is relatively stable.

But who knows? Maybe someday we'll see "National Banks" accepting crypto for deposits and withdrawals, increasing its adoption within the mainstream world like never before. These banks could serve as custodians of an individual's crypto funds, taking care of security and other responsibilities. This would be very convenient for newcomers into crypto with no experience or knowledge in the field. But for crypto enthusiasts, being their own bank it's the way to go. Just my opinion :)

Haven't you ever read the slogan on the blockchain webpage? "Blockchain is your own Bank" so we don't need that. What we need now is infrastructure to facilitate the use of cryptocurrency in the real world such as payment cards. Maybe this will be better than making a cryptocurrency bank.

What is so hard in storing and protecting cryptocurrency here now that we still need the middlemen that we are trying to eliminate and I see this your post as conspiracy with banks to still continue to elevate and promote middlemen in pour transaction. We have wallets that are much secured and not so difficult for people to get and use, and if we are to even look at what a middleman should be involved here, it is the aspect of educating people on the use of cryptocurrency and the wallet.

People get hacked and scammed easily of their cryptocurrency because they actually have little knowledge of how to use them, and you know that people are very lazy when it comes to further research on how to make use of some of the wallet and which wallet is best secured for people to use without having to start thinking of keeping it with third party called banks again.

There was already an attempt to create such a bank, while the attempt failed. There are too many permissions and agreements that are currently unrealistic to obtain (look, for example, on the Libra project - they also cannot get regulatory approvals).
The project was called Polybius (now renamed Osom). The topic in the English section of the forum has been deleted, there is a topic in the Russian locale: https://bitcointalk.org/index.php?topic=1907106.0

Considering the fact there will be a middle-man in crypto bank destroys crypto purpose. Although it has certain benefits I just do not think that it will work the way we imagined even it is been highly regulated by government. Big companies was once been hacked by random intelligent people although it looks like not penetratable though, and crypto could only be use within the technology itself that is why they are also prone into hacking, either way hackers could make their way to penetrate our security in a manner of greed.

@OP, nothing of such can happen, which it will result into a lot of issues.
The question I asked myself was that, "who are those that will be in charge?" Is it government that want to centralize crypyocurrency? Is it a group of people or individuals that will at anytime come to tell you that their system has been hacked? Hese and many more are why it might not work.

Indeed, its like losing its real intention and desires. Also, don't you think that if it finally happens government will not take advantage on it? of course they won't allow it unless they are gaining some benefits from it. Governments have different way of thinking so are we but most of them are only thinking for their own benefits, I just don't think that it will turn out good but it seems possible particularly these days that everything involves technology. Well despite of that I think i'll just support it, its still crypto and I do believe that they will not establish something that isn't worth it.

I think there are only few people who will only store their cryptocurrency in banks because most people will rather store all of their crypto in their own crypto wallet. Storing in banks is not 100% safe, that is why keeping all of your crypto is still the safest way especially if you are using a hardware wallet, after all cryptocurrency is not like fiat that it is good to store it at the bank.

I think need of crypto bank for a just securing your crypto assets is not a good idea. Crytocurrencies have many trusted secured crypto wallets hardware wallet and software wallets both and these wallets are secured with private key which noone knows other than the owner of that wallet. If such high security cannot keep our cryto assets secure than how can we trust on banks. Can't banks software/wallet be hacked by hackers? Crypto banks will only charge the fee for keeping your assets but they cannot provide you better security guarantee.

Having a trusted third-party to store your crypto is beneficial to newbies and for some who are lazy enough to study on how to secure their tokens. i am not against it but if you are here on this space long enough then you should know by now how important it is to have full control on the coins you are holding.

If there will be financial institution for cryptocurrency, then it would be regulated and not decentralized. It will not be the cryptocurrency that we know. Though it can reduce the scams in the market since it is regulated, it is also more prone to abuse of power over its customers. Personally, I believe that it will not be good idea but if there will be a way in which crypto is still decentralized but somewhat regulated and can be still anonymous, it will be perfect.

bank of crypto turned out to be already there and many have given answers related to it in one page ,I think too many banking companies that undermine customers and secure will only be my own responsibility in a personal wallet not giving full responsibility to others actually attracts attention but I prefer to be in the anonymous category for crypto and manage all assets is more profitable for me

If it is a physical bank for cryptocurrency as a whole, it SHOULD covers all of cryptocurrecny. What I mean in here is they should have all ERC-20 tokens and bitcoin. I just don't know if those coins that are private should be included or those coins that aren't listed in exchange should be since many people are hodling those. And where should this bank starts?

That's right, and CoinBase is the best for this field. Moreover, CoinBase has been around a long time, if I'm not mistaken since 2012. With strong products and collaboration, CoinBase has quite a lot of users. Moreover, it is very real use for real life, one of which is in collaboration with several companies adding bitcoin payment processing services to traditional payment companies.

I am also not in favor of crypto banks. Crypto banks sound cool but the problem is that this strategy can reveal some information about holders. Nobody wants to show his crypto currencies and holdings to others. One of the reasons why bitcoin and altcoins get attention of investors is anonymity. Due to this, people are able to keep bankers and government away from what totally and solely belongs to them.

Crypto bank for the reason of unable to protect is not making any sense. If you decide that you will start making use of cryptocurrency then you should be ready to handle it yourself and take the risks, oh and by the way, who even said that people can't protect their coins? There are hardware wallets like Trezor and Nano and you can as well save up your 12 word phrase and store it in several places to make sure it's safe. You can write it down on paper and keep it, and also save it other places where it is safe.

Even wallets like Coinbase are already safe and they offer services like banks; they have a Coinbase VISA debit card which you can use to spend your bitcoin anywhere whether online or ATMs worldwide. Their wallet is secured and they have a cold storage. There are platforms that lets you use your crypto assets to take loan online such as Nexo. So, I don't see the need to be talking about any other thing.

A crypto bank will attract more number of new people to adopt cryptocurrencies, I agree. But, I doubt that governments from all over the globe will come forward for the reason of familiarizing cryptos; I mean some governments are already against cryptos whereas most governments are yet to unveil their stand against cryptos. Only in a crypto friendly government, we can expect a regulated crypto bank to function like you mentioned; it may take decade of time, I am afraid.

Moreover, there could be a chances for regulated crypto banks for the purpose of earning interests for your capital. Again you need legal status for cryptos 8).

an idea or a breakthrough from a system improvement must still be a mistake and with deficiencies in a system there will definitely be an improvement and in my opinion the existence of a bank is a breakthrough that is needed later but for now it cannot yet occur and is still contrary to the bank system and crypto currency economy system

I don't know, but we don't need a third party for P2P transactions, we usually do transactions through third parties, that's the benefit of traditional banks. In this case we can also secure our own wallet, as you said we don't need a bank just to secure the wallet. Maybe if there is a system of deposits and bank loans can be created, but loans and deposits in crypto must be accompanied by information and letters.

Hardware wallets is quite enough for securing crypto assets.
after all the "anonymous" wallet is more secure than we have to register our identity to the banks. Maybe our identity will leak out and many bad guys will targeting us and it might be more dangerous.

Meaning of banks is
https://www.investopedia.com/terms/b/bank.asp

With that meaning, Crypto banks will make crypto a centralization, if the bank give access to PK then the wallet (have access to the PK) is enough to store our crypto assets.

It would be wiser if we as owners of the cryptos are responsible for what we have, compared to leaving it to the Bank to save it because it will be the same as giving other parties access to our assets.

I believe there are already several projects that are aiming to launch their own bank of crypto with credit card, loans and much other features of centralised banks. As soon as BTC will cost around 100k, we will see a bunch of crypto banks.

This could be interesting only when government is coming up with such plans. If private players come into such message, people wont believe them. For this, regulations should also be full force. This will keep scammers away from this field totally.

Agree. It would only serve its purpose for newcomers into crypto, as they're not used to properly securing their funds against hacks or theft. For experienced crypto users, this is highly unnecessary. After all, crypto allows people to be their own bank. I'm sure that if a "Bank of Crypto" becomes a reality in the future, many people will solicit its services in mass. But I believe that the new crypto-centric financial institution would have to face a lot of regulatory hurdles in order to provide its services worldwide.

Despite this, there's a lot of applications within the world of "De-Fi" (Decentralized Finance) which work just like an ordinary bank. For example, we got "Compound.Finance" and "MakerDAO" which allow users to either lend or earn interest from their funds. But of course, these dApps are not suitable for non tech-savvy people. Which is why, sometimes a centralized solution (like the aforementioned "Bank of Crypto") is best in order to bring ease-of-use for people in the mainstream world.

Nonetheless, time will tell us what will be the outcome of a Bank which accepts crypto for deposits/withdrawals. As Blockchain technology becomes adopted by governments more thoroughly, new business ventures could emerge in the not-so-distant future. No matter if a "Bank of Crypto" is launched or not, at least Bitcoin has fulfilled its purpose of transforming our economy for the better. Just my opinion :)

It might be an good idea as it promotes crypto adoption...

Bear in mind that when people choose to trust crypto bank to store their crypto, they have the consent to do so.

It's their choice whether to give up the control, so I still think the purpose of crypto still remain.

it is very difficult to realize a crypto bank. At present some countries are still unclear about cryptocurrency rules. Because Cryptocurrency is very volatile so it will be very risky. To secure crypto assets, you can use hardware wallets such as Ledger, Trezor, keepkey, archos and many others. Bankc Crypto is still difficult to apply at this time.

There's no banks for crypto because it's just a transparent currency wherein not the same with fiat that has a real figure. And it's impossible to happen even in the future because you know crypto currency are not illegal in other country ,so even some of the countries accepted it there's no way they will make a banks just for it.  Because it's still can cause bad things in the community in my own opinion.

There are already so called cryptocurrency banks actually, both online and physical. Although the idea of a bank for cryptocurrency is ironic because cryptocurrency is basically created with the design to counter the banking system, it cannot be avoided because many physical banks are now joining the community, and have in fact made necessary changes already to make themselves open for the crypto development. In addition to this, there are also apps, sites, and crypto products that are offering services similar to that of the banks.

Everything can be happen , until this time I'am just see Projects MONACO or now crypto.com
This wallet available debit card support digital asset cryptocurrency.

On the other hand, even if we do everything for cryptocurrency to become the worlds currency, banks will not surrender, they have already established so many branch all over the world, and they are big already. What we can do right now is to choose the crypto depending on us, and not considering how banks will react. If all of us will choose crypto, there's no way banks can interfere.

If there is a proper cryptocurrency bank, it will conflict with the decentralized nature of cryptocurrencies, because the bank itself is a centralized organization. So having a cryptocurrency bank is not realistic.

Cryptocurrency does not need a "bank" if you will going to ask me. I personally believe that it will defeat the purpose of decentralization of cryptocurrency if there will be a "Bank of Crypto". I do not also fully trust the government with anything with numbers because I experienced it first hand how dirty do some of its official works. Nevertheless, I believe that the use of block chain tech will help our society grow more.

I also have the same opinion the two things are very contradictory so I think it would be bad if it happened because the crypto and the bank are not in line will create confusion. so crypto will remain decentralized without the help of any bank

I don't really think there will ever be any bank of crypto, it's crystal clear that it opposes the original purpose of crypto in the first place. Banks stand as middleman hence the p2p transactions in crypto will be a failure and also will you be trusting the bank with your private keys? That's way risky in my opinion.

If the government will have bank of crypto as planned, its only to see how much people have move their wealth to crypto and tax them. They will probably not let you physically get into this bank unless you have fully paid your tax and that means they will have to learn your wallet addresses.  Imagine sending a ransom money to let you login to you wallet and this will recur every year.   

therefore, crypto banks should not exist because they can eliminate the decentralized nature of crypto, and banks are third parties and they are certainly an institution that needs finance to pay for existing workers. just imagine if they make a fee every month in the form of a percentage of crypto, surely it will benefit them

We already see that banks are adopting this technology. Bakkt or Revolut are good example that this is happening.
And why this is the future? People are too lazy to care about their finance so they will put their crypto into a bank, there will be protected, insured, so everything will be very tempting, but we know, that it is not a good solution.

indeed not necessary. even the function of the exchange is enough to replace the role of the bank. if there is it will only add transaction fees and taxes for crypto owners in the bank. like our money in the bank with transactions that require costs every time we make a transaction. now it seems that the banking system is completely controlled by the role of the exchange which is very helpful.

but if there is a crypto bank then there will be a set in it and I think is inversely proportional to the decentralized nature of crypto. so think again about your expectations, because I think crypto would be better if it remained alone without institutions

Its up to a user though. I don't think it will help me however to sleep at night knowing my coins are in the bank where they can access it. Its not going to be safe for your coin to be there, anyone can just send your coins to a wallet and God knows who can identify the owner so its lose forever. Its ironic that Satoshi meant bitcoin to be out of the central authority are being sent to a ban where the money that is suppose to be pass on for your sons and daughters can possibly disappear because they can just decide what to do with it.

Indeed, people who are experienced in crypto do not need a crypto bank to store its assets. But if all the countries have crypto banks I think both old and newcomers will also store their assets in the Crypto bank. There are now crypto banks though not all countries have them, crypto banks like Bitwala and Spot9 which are set by the federal financial Germany. Many investors keep their assets there.

crypto world actually does not need something like a bank, is it not enough with a wallet?
and of course every exchanger has a purse in the form of a wallet. And prepare a storage area that already has an external wallet which is very guaranteed for security.
We see a lot of cases of digital asset escapees that occur in an exchanger, and whether it will not happen also to the Bank?
the answer is Very potential

Not at all. We have centralized exchanges which dominate the crypto trading industry. Yet, this hasn't resulted in a conflict with the decentralized nature of cryptocurrencies. This is true, because we have various alternatives for trading cryptocurrency. Decentralized solutions like DEXs and atomic swaps, are there in order to make crypto land a better place. If a "Bank of Crypto" emerges in the future, I wouldn't worry much about affecting crypto's decentralization since people will always have the choice of sending/receiving crypto their own way. The bank would prove to be useful for newcomers into cryptocurrency who don't know how Blockchain technology works. It would take care of securing people's crypto funds against hacks or theft. On the other hand, experienced users (like me) would simply use Bitcoin or other cryptocurrencies without the need for a bank.

Nonetheless, a Bank of Crypto would be something optional as it's not necessary for crypto to survive. Of course, this would bring massive adoption within the mainstream world if it becomes a reality. But most people often prefer to deal with crypto transactions themselves for true censorship-resistance. Just my thoughts ;D

Crypto currency is decentralized in which very highly secured but to be more specific crypto bank is somehow not decentralized though it depends the features that they will provide due to the fact of many users here in crypto currency community as many users want to know in detailed about it. As my own thoughts much better to be secured by our own hardware wallet rather that to be secured by anyone else. Likewise, I don't think it will be supported by many users as well as by those investors here in crypto currency community.

Having a bank of crypto will defeat the original goal of cryptocurrency.  I dont think people might want to welcome the idea

But it is not crypto exchanges alone that get hacked, banks also face similar charges. Just that when a customer loses money saved in the bank, the government pays him back but money lost to crypto exchanges are more likely not to be paid back

in my opinion the concept of a crypto bank will be in conflict with a decentralized crypto. I think to secure coins we don't need a bank. because we can improve our wallet security system. and there is also a hardware wallet that we can use to store our coins. as long as we keep the password and the key well. then our assets will be safe. and in my opinion storing our crypto in a token bank also has not guaranteed that our coins will be safe from hackers.

That's certainly true, mate. While Banks are centralized, they serve as an ideal solution for securing one's funds. I believe that a new financial institution that would accept crypto, would attract lots of newcomers in this emerging industry. On the other hand, experienced users will use crypto their own way via hardware wallets or other means. After all, crypto is meant to allow people to be their own bank. We'll have to see if governments are willing to allow Banks to offer crypto services to its customers. Adoption will depend on how governments open up their regulatory stance for Banks to take this wild journey of crypto and Blockchain technology.

Even if we never see a "Bank of Crypto" in the future, we can still depend on many financial services which are completely decentralized. The world of DeFi (Decentralized Finance) is advancing at a fast pace where people can borrow and even lend their money to other users without the need for middlemen. If these services manage to bring ease-of-use, anyone can easily join the world of crypto without any technical knowledge whatsoever.

Nonetheless, time will tell us what will be the outcome of a "Crypto Bank" in the future. There's still regulatory uncertainty, so it may be too early to tell whenever this will be a successful venture in the long run or not. Just my opinion :)

If we were suddenly to start a bank of Cryptocurrencies where you have to get someone's approval to withdraw your own money, then why was Cryptocurrencies introduced in the first place if we could just continue what we were doing with Banks before Cryptocurrencies were invented, this idea doesn't make any sense to me at all because it totally defeats the fundamentals of decentralisation that Blockchain is built upon.

I don't think that it will happen soon, the government doesn't support cryptocurrencies because it has no tax, they will not get any advantages from cryptocurrencies so that take cryptocurrency as one of their competitors. If the only the government will support crypto many people especially big investors will surely invest and enter cryptocurrencies in the future.

I dint even think that banks can secure our own cryptocurrency as much as we can secure it ourselves because that is the only way that I see banks coming in with the promise of securing our crypto. There is no need to actually have bank since we already have our own wallet as our bank, and even the exchanges that are good at it still will not be able to guarantee full security for their users who have kept money in their wallet.
 
Banks are just trying to stay relevant because of the fees they do charge which I think with this decentralized coin, it will be impossible for them to cope. If banks are being created for cryptocurrency again, I just see it as waste and an irrelevant project which makes no much sense to me. The time for banks is beginning to get outdated.

As for using banks as the third party in our crypto or a financial institution to hold our crypto is a fine matter. If it is regulated by the government then we can assure that our crypto is safe even if it is public or private banks. However, more of crypto users will still prefer holding their own funds in a cold/hardware wallet just to make sure that its own safety.

It may be a waste for you if banks will be built in crypto, but I think there are some crypto users that are approved of this discussion. I think if banks have been implemented in crypto, we do have our own choice if we are going to use it or not. There are hardware wallets that we can use, so it is our choice.

Personally, I believe that the creation of a crypto bank for all holders of cryptocurrency. This is just an awesome idea. And then there will be a great chance to keep your coins safe. But at the moment I think that this will not happen soon. Since to create a crypto bank you need large capital investments. And not every investor wants to risk his capital. Since any business needs guarantees. And I want to say that the creation of a crypto bank will not benefit everyone. Since this can affect the blockchain system itself. But he will hope that in the distant future a crypto bank will exist.

I find it funny though. The idea of cryptocurrency was to phase out these physical banks and their shady financial dealings. Now we are looking at creating a bank for cryptocurrency. Epic!

It's a good idea actually to have a banks  for crypto currency because in fact the value is too high  than real fiat so there should be a banks so that those who have big amount can ensure their capital is totally safe .  .  ,but unfortunately  there's still more against about it including those who work in the government even though they all knows that there's a good future with crypto currency they always declined it.  It's very unfair you know.!

it the opposite of the purpose of crypto but it is not really bad idea this can help new to bitcoin to feel safer
but having a bank for crypto has a high risk to be targeted by hacker similar what always happens in some exchange

I have seen a project that designed the concept of crypto bank. But we have not seen the clarity of the project. If I'm not mistaken, the name of the project is MyCryptoBank. Maybe you can see about the concept of this project.

I haven't heard news about this project for a long time, but Africunia Bank is one of the crypto banks and is still active with some of the plans they had set when the project was built, I think crypto banks will be in the future, because private banks in my country recently held a contest for blockchain technology developers and applications that are good for them.

You have a nice idea but I don't think the industry is ready for it. There are many crypto projects working on creating a decentralised banking ecosystem powered by blockchain but most of them are still struggling maybe because of trust which is the result of an unregulated industry.

I don't think that this is because of not being ready. It is because it is unnecessary.
Why? We do have our own wallet, hardware wallet, etc. The banking system does not have any place for crypto, they are just a waste of time. Crypto users prefer to keep their own crypto than to use services such as banking system.

If they're taking chances of centralize crypto, then there will be full hope launches of crypto bank l think  so.

I believe that the emergence of a bank for cryptocurrencies is more likely, since the governments of all countries do not like this whole idea with anonymity. And since the crypto community wants cryptocurrencies to be recognized in the world, then they will have to play by the rules of the powerful. On the other hand, the heads of state understand that there can be cryptocurrencies and they themselves can strive to create crypto banks in order to maintain control.

i think both are the same  . if the standard banks can accept crypto then how much more the dedicated crypto banks  ?

but i think dedicate crypto banks are more optimized only for crypto use . for example we can deposit and withdrew crypto easily on atm's  with or without card needed and thier security is also good versus on the regular banks that only have a normal security   . 

Is there a lot of banks that accept crypto currency  :o, which banks are you talking about and i am in this market for a long time and following all the news and i am not aware of banks that are already accepting any crypto currency, some banks are planning to implement blockchain and it is not a surprise and they might even create their centralized cryptocurrency in the future.

Does it not seem to you that the cryptocurrency bank destroys the entire cryptocurrency plan, because one of the leading ideas of the cryptocurrency (bitcoin) is to get away from central control so that everyone has control over their funds, and not a third party. Then what is the point of this when your funds will again be under the control of a crypto bank, which may not return your bitcoins or other cryptocurrency to you.

I know right? But I just came up with the idea, since many newcomers into cryptocurrency often find themselves troubled with securing their own digital funds against hacks or theft. A cryptocurrency-based financial institution, would prove to become useful in securing people's crypto funds over the long term. This would be mostly suitable for newcomers into crypto than experienced crypto users. People who are aware how crypto works and how to use it, won't need to resort to such services at all. A hardware wallet or even a paper wallet would be more than enough for an individual to become his/her own bank.

Even if a "Bank of Crypto" never becomes a reality, newcomers into crypto can easily resort to other means. The rising world of "De-Fi" (Decentralized Finance), provides many services that are similar to those of traditional banks of today. If dApps provide ease-of-use and user-friendliness, they could easily be adopted by newcomers into crypto. Otherwise, we'll continue to see diminished adoption of crypto and Blockchain technology because of their complexity and riskiness.

Nonetheless, it's best for most of us to secure our own cryptocurrency whenever it's possible. With proper education, people can become their own bank instead of needing one for themselves. Traditional banks will continue to provide services with Fiat currency, while crypto will provide decentralized finance to the world. Time will tell us what will be the fate of a crypto banking solution as we know it. Just my thoughts ;D

If you aren't storing your crypto on a hardware wallet I think Coinbase and ecxx are the safest options. Coinbase is insured and ecxx has never been hacked, is regulated in Singapore, and uses ledger vault.

So far I have never used Coinbase and ecxx to store my crypto assets, so if Coinbase and ecxx are really safe and highly recommended, it is very necessary to try, and I will also use them.

Coinbase is at first position now but this keeps on changing. However, the exchange has remain among the top for years and is one of the oldest. It has some good features and for a new comer, this is the right place to start playing with crypto currencies. The fee is also a low one. Apart from that, it gives good options when it comes to making payments.  You can use bank transfer, bank wire, credit and debit cards.

Coinbase is a good service, which often resembles a bank. With features such as a "Vault" and "Staking", you could secure your crypto funds and earn some money along the way just like you'd do with ordinary Fiat. It's the best thing there is for newcomers to make use of crypto without any technical knowledge whatsoever. What I don't like about Coinbase is the high fees compared to other prominent crypto exchanges like Binance and Bittrex. But it's one of easiest crypto platforms available in the mainstream world. The new "staking" feature allows people to earn more money with their crypto holdings like a bank's savings account. I've been staking Tezos at Coinbase and have obtained great results with it.

Nonetheless, I believe that there may be no need for a "Bank of Crypto" as centralized exchanges serve the same purpose as a traditional bank. We've already seen this with both Coinbase and Binance where they provide services (like lending, staking, vaults, etc) similar to those of ordinary financial institutions. Eventually, governments may require these exchange to comply with Bank regulations in order to keep providing their services to their customers. At least, newcomers into crypto will have an easier and reliable way to get started with crypto without any technical knowledge. Once they're experienced enough, they could resort to hardware wallets or "De-Fi" apps in order to become a bank of their own. All in all, a "Bank of Crypto" is only optional for the crypto industry since Blockchain technology enables anyone to become a bank with no counterparty risk. Just my thoughts ;D

That will not happen because cryptocurrency does not have strong support from the state and government, it is only limited to legal use and the price of this unstable crypto does not meet the bank's requirements in my opinion

Why do you think so? You can make a bank for mere mortals and see all their transactions without much effort, without the help of special services and fiscal authorities, directly. Such a bank cannot be hacked or robbed, and citizens’s funds can be marked and tracked.

Exactly. The probability of a crypto bank becoming a reality seems bleak nowadays. After all, there are some centralized exchanges which provide the same financial services as mainstream banks (like Binance and Coinbase). The idea of a "Bank of Crypto" would allow newcomers into crypto to properly secure their money without any technical expertise. Experienced crypto users will continue to secure their money as they're already doing by being their own bank (via the use of paper wallets, hardware wallets, etc). With so many important things about crypto to keep in mind today (such as scalability and privacy), a crypto bank is something optional that would prove to boost mainstream adoption if it ever becomes a reality.

Considering that crypto's main flaw is unstable prices across the market, I doubt that Banks would want to adopt cryptocurrencies anytime soon. Only stablecoins (like Tether, TrueUSD, and Binance USD) have a better chance of becoming adopted by worldwide banks than ordinary cryptocurrencies because of their stable prices across the market. Hence, crypto bank or not, the entire Blockchain industry will be here to stay for many years to come. Just my thoughts ;D

That's exactly what newcomers would never use such a service in a bank for.A bank and cryptocurrencies is a nightmare for crypto enthusiasts. But still, cryptocurrencies are moving towards regulation, so most likely assets such as cryptocurrencies will appear in banks soon.

If the crypto bank is there as well as more crypto managed and its ecosystem maintained by them. But blockchain is decentralized and transparent if there is a crypto bank is just the technology they are useless.
Even better is not his bank but some are managing the ecosystem to be awake well from scammers and scammers that can be meshed with chapters and put in jail.

Banks do not want to leave and already want to switch from fiat currency to cryptocurrencies, but why should I give them my coins if I can store them in a cold or hardware wallet.
Moreover, nobody can take them from me.
And if the Banks cease to exist then I will lose my savings.

yeah right, cryptocurrency is famous for decentralization and is also transparent so if there is a crypto bank, cryptocurrency is not much different from FIAT banks. and will become useless.
because basically, every person who owns a wallet is the bank itself, so there is no need for a cryptocurrency bank.

Crypto bank is an extremely good and secure cryptocurrency protection repository. If we are more careful, we can find intermediary liability transactions.

At present, electronic money bank is not an absolute safe place and has gained a lot of trust from people. The government should strictly manage and put more stringent regulations.

Yes, not everyone agrees with this because it defeats so many of the purposes of cryptocurrency and blockchain technology. The idea of a bank that provides cryptocurrency services has not been fully implemented as expected and currently only proves the ability for mwois people to participate in cryptocurrencies.

Personally, I believe that a place to store cryptocurrency is very profitable and in demand on the cryptocurrency market. Since any user will be able to purchase any coin in the cryptocurrency bank. And at the same time at an affordable price. And also the bank receives its commission from sales. I think that many investors are already considering cryptocurrency development options with a cryptocurrency bank. I believe that in the future, cryptocurrency will occupy a leading position in the field of payment and financial transactions around the world.

It does indeed defeats the purpose, however, there's market for everyone. Maybe crypto bank will be more convenient for some or could protect funds better that an individual or company. Plus, having multisig and insurance would greatly improve this use case. That's where I could put my VEO that's for sure.

What do you mean ? what is asked in this topic is about crypto of bank, not the crypto bank you describe, to better understand the question, try reading it again on the main page so you can know and not be wrong in answering it.

Decentralization is the centre of Blockchain and Cryptocurrency. Though, there are risk associated to safeguard crypto assets but proper education of crypto assets holders reduces the risk of losing ones assets in crypto-world. My major problem of Cryptos is the high volatility, dumping, fake projects (scam) etc. If all these can be address. Hiring, consulting a professional or education improves security. 

What's wrong with storing crypo in your own wallet with your own private keys? I am a normal user but I'm not demanding for a crypto bank. I think holding itself is already very profitable. Why ask someone to keep your bitcoin for you, and then actually pay them to do it, or earn a few percentage of interest? If you're gambling for sure, go ahead but if it's your life savings? Please learn your lessons and keep your own money the way crypto meant for you to!

your coin = your responsibility

TBH crypto Bank can lead to centralize and it is opposite with crypto is. So, it can change the whole crypto and make people doubt with crypto
if you wanna safe your money, using hardware wallet is the best thing you should do. buy like Nano Ledger or trezor
Those are good choice which well-known hardware cryptocurrency wallet

Many DeFi startups already offer similar services to traditional banks and what you are referring to in terms of securing customers assets is custody solutions and this area including blockchain payment processing is still under development with a major project like Libra potentially offering some of these solutions

Don't people go to Bitcoin to escape the banks? Now I don't think banking will be popular again. Also blockchain with classical banking does not match much. We're going to the new world where everything is in the approval of mathematics!

I think companies like NEXO are almost like Crypto banks and they give loans and you can get a bank SEPA or wire to your bank account when you take out the loan. They also give you interest if you hold stable coins on their site and also they are bringing out a debit card. This is a company that is good for people like my Wife who are working full time in crypto and earn mainly Bitcoin for a living. She says it is better than a bank because you can make money by having an account and holding your stablecoins there, but in the bank we earn hardly anything, yet the banks use our money to make huge profits year in year out, while we lose our fiat value due to inflation.

Banks are always looking to take advantage of the next trend in finance. Ever since Blockchain technology came into inception, Banks have shown an interest to adopt Bitcoin's underlying technology for their own benefit. We may not be able to see a "Bank of Crypto" in the future, but we'll definitely be able to see central bank digital currencies (CBDC) soon. Several countries like China, and France, have already announced that they'll be launching their own digital currencies based on Blockchain technology. This means that one way or another, crypto (government-backed, of course) will be adopted by worldwide Banks. They won't be going anywhere as long as they're able to live off fees from their customers. With the adoption of Blockchain technology, they'll be able to win more than they're willing to lose.

In the decentralized world of crypto, people will continue to use digital assets like Bitcoin and Ethereum their own way. Nowadays, there are methods to secure one's crypto funds such as Hardware Wallets, Paper Wallets, and even Multi-signature addresses. With this, an average person can become his/her own bank without the need for a middleman. In the future, the battle will be between the worlds of centralized finance and decentralized finance. With proper education about how crypto and Blockchain technology works, having a "Bank of Crypto" would be entirely unnecessary. But if we ever see a "Bank of Crypto", then people would be able to use crypto easily without the need to worry about hacks or theft. Just my opinion :)

Storing your coins in your own wallet and with your private key is the proper way of keeping coins in crypto so why will you need a bank when wallets functions like bank for individuals. You are suppose to work link a bank yourself, independent from any centralized control why act like you have a Stockholm syndrome like loving the banks. They will take your coins from you and you will have to pay them, how is that making sense?

I believe that the emergence of a crypto bank is a very real possibility and most likely it will be realized in the near future. Why? Well, strictly speaking, it is unlikely that someone from the powers that be would have allowed to have non-regulated assets, well, this simply cannot be. In other matters, everything that happened a few years ago and now it is pulling more and more people into the crypto sphere, and in order to increase this flow, you need to bring cryptocurrencies to a higher level, namely, give them free use and offer to store it in a centralized bank. All this looks like a kind of plan that is being realized before our eyes right now. So most likely it's time to take off the pink glasses and think about what to do when the crypto jars appear.

It is this problem with the lack of the necessary preparation of the population and business for digital technologies that the taklimakan platform solves. Now you can take training courses or use the recommendations of experienced traders to conduct crypto investments. And with an increase in the level of knowledge, the society will be more ready to start working with cryptocurrencies and blockchain, then the central bank will only have to issue its coins faster, so as not to lag behind requests

That's also a correct answer because it is also do it by your owm bank account and saves your money without any problem by storing it in your wallet.

There are already attempts to create such banks, and I am sure that such banks will appear in the future.
The big question is how much they will be successful, however, I personally do not believe that the banking system will be able to adapt and get along with the cryptocurrency market.
I see this as parasitic coexistence, but not as a symbiosis.

It is actually better for everyone here earning crypto since they have started. It should be implemented in different countries where there are lots of users are using cryptocurrency. Because instead of bank of fiat that can accept also cryptocurrency, I agree that why we can have our own bank in which we can invest or we can withdraw our crypto. The idea is that it should be famous first because as far as I know there are ATM machines now in different countries wherein they can withdraw or buy bitcoin.

In my opinion, cryptocurrency was created initially to eliminate or reduce the role of banks or central banks as middlemen in every transaction we make, so it becomes absurd when crypto banks are deemed necessary. We already have a private key and are also free to trade easily and I don't think crypto banks are needed except for exchangers

this is not in accordance with the main philosophy of crypto. A bank is a service to save money and also loan money without increasing value. if crypto becomes like that, I think it won't be good. because crypto has an investment value that makes it possible to get profits.

One thing for sure, is that crypto and Blockchain tech has attracted the likes of governments and central banks worldwide. Their huge interest in these emergent technologies, might lead them to devise their own financial solutions that are frictionless, and cheaper to operate than the existent financial system of today. No one knows what will happen in the future as the crypto industry is completely unpredictable. Rest assured that if a crypto bank becomes a reality in the future, it'll become subject to the same regulations as the traditional banks of today. Newcomers into crypto will find it much easier to store their money in a crypto bank, than doing so themselves. After all, the responsibility of securing crypto funds is passed to the "Bank" (middleman) instead of the end user. For us, crypto veterans, it's best to be our own bank in every way possible. Using existing wallet solutions like Hardware wallets and Paper wallets, you can secure your crypto funds against malicious actors in cyberspace.

Time will tell us, if we ever get to see a "Bank of Crypto" operate within the mainstream world. If that never comes true, there's no need for newcomers to worry about securing their crypto funds, and requesting banking services as the world of "Decentralized Finance" (DeFi) is growing right before our very eyes. Ethereum and other smart-contract-based cryptocurrencies provide many decentralized services (like lending and borrowing) that are common within banks of today. Crypto bank or not, the entire crypto industry will continue to grow in popularity for years to come. Just my thoughts ;D

This goes against everything that crypto stands for pretty much. But I can understand it from the point of security, safety and freedom of mind. I think they only advantage of a crypto bank is that people
can use it and have the responsibility passed onto the bank. So if they missend crypto to the wrong address or want to take things back. I think this is what most people fear about crypto and a guess a crypto bank tries to find a solution to these fears. I must admit I get shaky when making transactions. Maybe one day they will have some sort of gateway sort of like an escrow that holds your crypto so a bank can check it is right and then they release it.

It is different from fiat currencies, where cryptocurrency makes it possible to invest, but the increase in crypto is due to the greater number of requests, and many countries have not legalized it. but if all countries have legalized it, are the fluctuations still the way they are today?

I think a bank of crypto can exist and compete with ordinary banks. The only question is the regulation of such banks by states. Not all countries approve of cryptocurrency.
But cryptocurrency was created as an independent, free currency, so this will contradict its purpose.

Hmm, is possible but is gonna take time to come to manifestation it will be more than decade because there are some barriers that will affect it successful implementation.
1. Since it's not generally acceptable fully in a whole country talks Less of the world
2. The goal is still in blueprints and it takes forever for his implementation to come through.
And many more