Bitcoin Forum

It is quite a good news to hear that Bitcoin which is the father of all cryptos, is now being patronized and accepted by the US banks. Customers of hundreds of banks in the U.S. will soon be able to buy, hold and sell bitcoin through their existing accounts which was made possible by the  partnership between fintech giant Fidelity National Information Services (FIS) and the New York Digital Investment Group (NYDIG).

From report, it had be noted that banks used to steer clear of bitcoin but they are now asking about providing crypto investment services because they can see their customers moving money out of their bank accounts to crypto exchanges.

FIS will handle the link to lenders while NYDIG, not banks, will take care of bitcoin custody and trade execution, the publication noted https://news.bitcoin.com/hundreds

Bitcoin.com is a website to scam people with Bitcoin Cash. News about Bitcoin on Bitcoin.com is not reliable.

Not all banks have same policies to accept or restrict cryptocurrency trades. You need to read policies and rules of the bank you are using.

Bank rules. State rules. National rules.

Why can you say that? is there any proof? As long as it supports bitcoin policy to grow I feel good. Because I  know that there are currently two positions. Supports and rejects bitcoin.

Whether it's just strategy or pure hatred. But the news at bitcoin.com is at least positive news that can lead to a positive opinion on bitcoin.

Bitcoin.com was created for Bitcoin Cash. Bitcoin Cash team tried to say their cash is real Bitcoin.

This is encouraging and we hope that other countries borrow leave from the US banks and grant bitcoin the freedom that we have all longed for that have been delayed for too long now

The solution proposed by NYDIG, partnering with Fidelity National Information Services (a fintech), integrates with the each adhering bank’s current ecosystem, making it seamless for the customer to purchase or sell bitcoin from his usual banking environment, in a manner similar to what Paypal does.

The bank does not really provide the customer custody over the bitcoins, but rather acts as an intermediary, that facilitates using the customer’s bank account to buy/sell bitcoin, whilst the custody is undertaken by NYDIG.

The bank’s game is logically to get their cut on every purchase/sell out of commissions, which each bank that deploys the solution will determine, likely varying somewhat between one bank and another. It suits people that want access to bitcoin as an investment (or believing it to be), not as a means of payment (as far as I’ve made out from reading the story and watching a cnbc video on the matter), and who are incapable of being their own bank. Believe it or not, I’d assume that the majority of the population has these limitations, and that is who the banks are after for their cut.