Bitcoin Forum

I mean the bank giving out some interest or making some loans.

Is there only wallet in BTC world?

If so, one more question...WHY?

You can lend or borrow bitcoin here. https://bitcointalk.org/index.php?board=65.0
Or, there are some other sites like BTCjam that allows you to do so.

There used to be but it crashed down. The Lending subforum is your best bet.

There used to be one named FlexCoin, but it got hacked.
A bank isn't really needed... You would be better off keeping your wallets with your bitcoins to yourself anyway.
Banks that hold a large amount of bitcoins would be more likely to be targeted and hacked.

I wouldnt get into that, majority are scams.

I mean think about it for a second, whats the collateral? for lending, its just acting like a actual bank, when the user cant pay up, then what?

And thats even finding "trust worthy users".

Thats why everyone that lends money here asks for altcoin collateral or others, or proper collateral. Thats why BTCJam is just rubbish.

I think it's more appropriate to ask "why a bank?" When it comes to Bitcoin, what extra services or security could a bank offer that is not an inherent part of Bitcoin itself?

The whole point of btc is to avoid banks.
Of course there is NOT any btc bank.
...

Lending people your btc is the best way to lose it. Might as well send it all to a ponzi. -_-

Sir, may I point out that you are highly incorrect there?
Sending to a ponzi is stupid. You send it to scammers. You might as well send it to me.

I think there is a bank related to btc which pays off interest just google it i can't remember the name clearly but i have read about it somewhere its sand(something).com  just google it !!

Be very careful about scams, there are sites that let you invest in them or other things, but I suggest you avoid that because you are either likely to be scammed or make so little on your investment it wont be worth your time. Plus, holding your own money in something like a cold wallet you own is the best way to avoid loosing your money to anything like scammers and hackers. Also, if something sounds too good to be true, it is too good to be true and either someone else is getting screwed (pyramid schemes) and/or you will get screwed.

As others have said, the lending subforum is your best bet.

There was a Bitcoin site that let you lend them money for a certain amount of time for a little bit of interest (more like a CD than a bank account), but I doubt they're still online. I would be cautious giving out money to anyone if you want to get it back, unless they can provide collateral worth more than the BTC you're giving out.

Collateral is the keyword here. No lending without insurance of getting your money's worth back!

+1

The main idea of Bitcoin is to avoid 3rd party trust issues.

Your Bitcoins should appreciate in value without the need for interest to keep up with inflation. (well that's the theory)

You have like an 80% chance of getting scammed, so you'd need to charge about 500% interest to come out ahead.

I think there is a novacoin bank.tough i dont know about its credibility.

It is against the idea of altcoins.

I'm sure there are some "banks" around. You basically send all your money and they falsely promise interest on that money, and you'll never be able to withdraw it again. No, this is not the point of bitcoins, be your own bank. :)

If there used to be a BTC bank and crashed down why there is no one more bank?

As far as I know there is no btc Bank right now but there was an attempt to run such kind of bank!

Because a bank isn't the point of bitcoins whatsoever. You're supposed to get as far away from
3rd parties handling your money as you can.
Keep it in your own wallet. :)

Because if you store a lot of something in a place, it's more likely it gets targeted, targeted to steal everything inside.
Trust me, you are better off storing your own coins.

If you really want some sort of interest or profit rate on your money
you're best off lending to private persons. But please be aware of the
risk. People tend to be dishonest when it comes to money.

no, banks for BTC at all !!!

Bitcoin is BYOB (Be Your Own Bank) by using your wallet to store your own coins securely.

I dont think there is any kind of BTC bank at all

yay for life again

How do I get started in this?

Thus, you guys meant "no", right?

IMHO, there is no need to have a bitcoin bank, when the most important feature of bitcoin is decentralization.

Bitcoin was created as an alternative to the greedy bankers. And now you want Banks which deals with BTC?

completely unreliable, better to use  exchange BTC-E

Here's some sites:
https://bitlendingclub.com/
https://www.bitbond.net/
https://btcjam.com/

Some yes but you shouldn't use one
Always control yr pin, that's the whole point

is any on this branch real use bitcone banks?

Don't ask for banks or we'll see them popping up in no time, ready to scam you. :D

True.
Why send your bitcoin to someone else and ask him/her to hold it for you, instead of holding the bitcoin yourself? :D

Exactly this. The great thing about bitcoin is we can be our own banks. We need to get away from our reliance on them.

Traditional banks wants your deposites and pays you interest because they can loan out money and charge higher interest. If there is no real demand for contracted loans in the current bitcoin environment, there is no market for a bitcoin bank.

To get some sort of interest. Altho all those interest / investment schemes are scams.

You get next to zero interest now anyway, but banks only make their money by lending it out at extortionate rates. We shouldnt support their loan sharking.

I dont think there is a btc bank..  :P

Isnt the purpose of btc to kill the banks from printing money. (decentralized currency)

bank of bitcoin is for lazy people, how want have deposits from mining btc

No I definitely agree, that's why I like bitcoin, the thought of a decentralized currency is just great. Banks aren't made to help people, they're there to make profit. :)

Why would there be a bank... Is it really that hard to secure your wallet with a password of sufficient entropy that you can remember? Not to mention, a conventional bank would ruin the anonymity part of Bitcoin and  much of the decentralization purpose.

Yes, i don't think that bitcoin needs bank. Some of people want to attach FIAT money, banking criterion for bitcoin...  ???

https://www.bitbond.net/
but why ?

Who would borrow bitcoins when they are available to buy everywhere? Seems like a good way to lose your money.

Why on earth would you want to trust a central server with your hard earned coins?

I know one BTC bank

https://bitcoinsand.com

It is created by the Li xiaolai, the NO.1 richest btc owner in china.

In my dream there will be a real BTC bank in not far away future

I really can't understand why people keep asking for a btc bank.  ???

You need to control you money by yourself. we don't need banks!

 did u find any btcbanks

+1. Never store your bitcoin on exchange or "btc bank", as it can go down anytime even if it is (was) the largest one. :)

Look what happens to online sites like Mt Gox, your best bet is to keep them yourself.

If BTC or any cryptos take off, of course banks will accept them! Just a matter of time.
The banks dont want to loose out.

But we don't need to have banks in bitcoin. I don't think many people will deposit their bitcoin in a bank, especially after all these hacks and scams.

I've heard of Bitcoin hedge funds which in some way act like banks with interest on deposits.

It would mean a lot of risk, Look at inputs.io

Wouldnt banks naturally trade with BTC if it becomes a valuable currency?
You cant gain interest with BTC either unless you consider its inflation as interest! lol

I'm sure banks would appear eventually.

And that was even run by a "trustworthy" (before the "so-called hack") person.

Isn't it already a valuable currency, or do you mean valid?


I'm sure they will spring up in some form at onepoint, but I don't see why we would need them.

there isnt really a bitcoin bank because that is your wallet. but there is something now called xapo that is a debit card with a bank and savings account for bitcoin tat when u go to store u swipe debit card and u spend your bitcoins but its traded to usd instantly at current price.

I belive there will be lost of Bitcoin banks. It's the money of future.

I guess you meant there will lots of bitcoin banks. :)

Unlike fiat, we can manage our bitcoin and make international transfers ourselves easily.
So, there is no incentive to put bitcoin in such "banks".

When bitcoin banks are involved, lost is more correct.

I'm in the "BTC was designed to bypass banks" boat. Seems odd to go looking for one now.

Banks have NO IDEA over the value of the coin (they can only guess), unlike FIAT money, for which they use guns and laws.

I know the islamic bank of bitcoin, they are giving loans for no fee.
BR,
Gondel

There was one in Canada called Flexcoin  but was closed by a hackers withdraw...

 http://www.thestar.com/business/2014/03/05/canadian_bitcoin_bank_collapses_after_hackers_steal_digital_currency.html

Its better to be your own bank

Copy coins to usb,  bury that drive in back yard for two years, dig it up vol-la interest paid.

 I can be BTC bank. Do you want I maintain your money?  :)

There is no market for a bitcoin bank because there is no real demand for contracted loans in the current bitcoin environment.

Nope, there is no BTC bank now.
I remember there was a pilot version of BTC bank or a usual bank that make some operations with BTC , but it has a fiasco