Bitcoin Forum

FinTech banks are disrupting traditional banks, but what if you want to move your money into a cryptocurrency asset? If you sweep your funds into a cryptocurrency account, what cryptocurrency are you going to use to hold your funds?

Well I'm actually holding bitcoin for long, alongside gold and a few stocks in the local stock market scene. This might not be an ideal setup, but right now I am 50% bitcoin, 20% gold, 20% savings and 10% local stocks. I have increased my bitcoin holdings over time after profiting off of it, and basically just reinvesting it again and again until I make a decent stash. It worked well for the last 4 or so years that I am dealing with bitcoin, and sure enough it would be for the years to come.

There is no such thing as a Fintech Bank. There is even no clear statement about what is fintech and every project have its own understanding of that word.
Also in general fintech is not about cryptocurrencies. For example almost every big bank have a big IT team that is working on different things related to Big Data, which is also considered as fintech.
Pretty soon banks would be just another IT compsnies but nothing tells us that they gonna start using cryptocurrencies.

There are fintech who let buy crypto, but not let withdraw the crypto and must to hold there and can sell for higher when drop, but i don't know which big banks is against crypto.

We are talking about own funds here, therefore, it should be obvious what crypto are we going to use. And not just that, crypto isn't only the option we have.

Banks in the future will surely be modernized, adopting financial technology ideas. However, some third world countries will still use the traditional way of the banking system as modernizing requires pre-requisites before implementing. It will take time and the economic situation of a certain country matters.

Anyways, I don't see this as big banks going against crypto. The title is misleading to the content of the main post.

Majority of the users will have bitcoin as the major holding on their cryptocurrency portfolio. Big banks were getting things done through blockchain, and majority were into testing. Possibly every banking service render will adopt the technology as they've found people moving towards cryptocurrency from traditional banking. Banks have faced big loss, as large volume transactions have taken place much through cryptocurrency which is the reason for banks making opposition statements against cryptocurrencies.

I would still use Bitcoin I have been using it for a long time now ,
And Banks against crypto isn't new actually it has been around for a while if I am not mistaken it has been that way since crypto has been created.
And if I am not mistaken back in 2015-2016 there was an issue like this in the Philippines where the crypto user's bank account would be frozen and they need to clarify some things about it.

Sure they will.Because they loosing money because of cryptos. Earlier there was only 2 way make money without do any hard word.Saving in bank with low interest and invest in stock market.But decade ago cryptos invented.After that new competitor came to world.Competitor with high benefits.So people always go after high benefits.So the people choosed cryptos.Do you like your investors going after another one. Thats what happened here.So why don't they again cryptos?

Well in case i am moving all my funds into cryptocurrencies i would decide to hold most of them in Ethereum and do a little bit of bitcoin because anytime bitcoin rises slightly the price of Ethereum jumps up real high lol.

That antagonist move is possible because people have found another way to hold their money and not give it to banks to do business with. Like what is happening between china and usa on trade, citizens find bitcoin safer to hold their money to themselves.Obviously, it is with these investors money that banks survive with.

If for example I want to move my assets in the form of a cryptocurrency, maybe in the percentage of 80% it will be in the form of bitcoin then 15% in the form of Ethereum and the rest is another Altcoin. At least that was what i'm think about moving funds. Indeed it looks very risky, but i will take it anyway.

I would like to store my money in Bitcoin no doubt on that. Bitcoin is not just an investment to make it is much more on the potential it has, if we invest in Bitcoin today and then it will enhance its potential then tomorrow or in the near future we are going to see what it actually get on also considering the fact that many services, organizations, and individuals are trying to stop cryptocurrency from spreading in the world but let them do whatever they want as I think cryptocurrency is the next big thing in the picture.

Big banks need to change their minds fast, otherwise they will crash, as people are already migrating to digital new banks much more friendly to crypto currency than the old ones.
I like that saying: never put all your eggs on the same basket. That is a good thought to remember when you want to invest your money. I see no reason to invest only in btc, although the biggest part of the crypto budget must be on it.
It's better to check what are the up trend altcoins and share a percentage of your budget with them.

If I have to hold my funds, I'm sorry to say but there is no coin to solve this problem
BTC, at least for today is my investment
I know there are some stable coins, like Tether for example, but I only trust to hold my position for a few days, not to have all my money

We really need a stable coin, but a coin we can really trust

I am sure that right now banks are watching the many developments in the world of cryptocurrency and they are already thinking how they can join the digital revolution. Soon we are witnessing bank-sponsored cryptocurrency (which many can call as pseudo) which they can use in their own ecosystem.

As for cryptocurrency, it will always be bitcoin for me though I am also into Eth and XRP. There are actually good coins right now with bigger potential for growth. Sometimes it is just a matter of preference and some analysis.

I will use bitcoin, I don't want to wake and see that my has vanished together with any CEO. As a safe rule and for security sake, I will use the bitcoin to store my money. In 2017, I move my money from the bank and converted it to bitcoin and only left petty cash there.

I also doubt the profess of most banks against cryptocurrency, they are all involved in cryptocurrency and are involved in this accumulation. I dont have any source but have seen some leading role in the banking sector talk in public on their believe in the space and its ability to improve transaction.

Fin tech banks don't exist, at least not yet. But the fact is that banks are changing their business and services due to new modern technologies and cryptocurrencies are part of it. I think that banks are not against Bitcoin or other cryptocurrencies but they measure everything through risk and profit since they are highly regulated industry and Bitcoin is still too big risk for them both in legal and financial way. But with time this will change and financial industry will embrace cryptocurrency, I'm sure of that.

Blockchain technology and its underlying crypto currency is disrupting various sectors of the economy and the banks will not be left behind. Although it might take some time for our traditional banks to fully align with blockchain technology but it will happen. On the issue of what crypto would I choose to hold if I am to convert my fiat to crypto , I would go for a 50-50 situation. 50% into Btc and 50% in fiat.

Banks are going against cryptocurrency because they've known its potential in the future so if they just do nothing against it then they will be gone. The time will come that cryptocurrency will be use more than banks or it may merge as online banking is already there.

Modernization is inevitable no matter how big industries try stop it, it's just a matter of who are willing to adjust and adopt.

bitcoin and bitswift

I store half of my money in bitcoin. I guess I believe. I have the usual altcoins (the ones you find in coinpayments) I sometimes rent mining power from rentmyrig and mine newer coins then sell them to increase my stock of the other coins I have. Then smaller amounts of "secondary" alt coins. Most with short lifespan or sometimes quitely in hte background with a low capital but a very long duration of existance. Those would be my favourite coins.


They natural enemies like the rabbit and the fox. Both want the same things and the traditional fiat is feeling shaky in the presence of a better high tech technology.

The perpsective banks and the users of cryptocurrencies are different. The bank will have an assume cryptocurrency is not safe either to be use as payment system and surely to be use as an asset. Because they know, if this system (fintech) grow up and be use by all people on this world then their function will be dissapear. In the fintech such as cryptocurrency we don't need a third party to save our money or to make every transaction and also for some exchange we don't need our personal identity when we make an account but in bank tradisional we need these thing and actually I was surfeit again it. I'm crypto user and since 2015 I have been holding bitcoin and I ever to move my all money on bank account to bitcoin. It was easy to mave it although my government has banned it.

Why did you decide that Fin Tech banks will destroy traditional banks? This will never happen. With the advent and even widespread use of cryptocurrencies, traditional banks will not only not disappear, but will not experience much discomfort. In addition, it should be borne in mind that state banks are under the direct protection of the state. The state will destroy anyone who encroaches on the normal operation of the banking system.

As cryptocurrencies takes over the world little by little, more and more people are switching and moving their assets to it.  Most people prefer bitcoin, as well as I, if I were to move my assets from banks. Banks offer low interests and it can be controlled that gives people reason not to trust it which is the opposite of bitcoin. Another thing,  bitcoin has the biggest potential to grow in the market. Another coin that I would to invest in is ethereum. 

I guess you must have read alot about ICO that make mention of FIntech Bank. All I need to say is that,despite there are broad knowledge regarding financial institutions, there are still no stable and perfect understanding of what many ICO term as Fintech. Many traditional banks are now part of smaller financial institutions that many are calling Fintech. To answer you question, I do not think anybody who intend to hold his/her saving in cryptocurrency go for any other coin except Bitcoin. The research has shown that most crypto traders hold bitcoin as the highest part of the portfolio. as you can see some people here on the thread stated they hold Bitcoin.

Well this is not something unexpected. Obviously banks will have a problem with crypto's as people will start investing their money in cryptos and not in banks... This will cause the banks to have less production of source of income. Also banks try to put down cryptos by showing people drawbacks and people tend to believe it as well.. But in the end all that matters is people somehow show their trust on cryptos again and its prices rise up

I did not understand how you correlate banks with the IT companies  ??? , banks will be there forever and nothing is going to stop that, we will have both these facilities in the future, bitcoin is not meant to replace banks  ;).

It is not entirely true as none of the banks have published any data or i have not seen any data from any banks making that claim that they had their losses due to the advent of cryptocurrency, your statement might be true in the future when major traders shift over to bitcoin when they are doing international trades and that is not the situation now as bitcoin is still in its infant situation.

Yes i think it should be in BTC . Because if i see from first to last of BTC market i think my mind obviously support here for investment. I could not find any alternative that can give me profit like this. In near future i think it will be most topest ever in the world economy.

By sweeping I think you are implying buying into an asset? in that case I will choose any of the stable coins first.. well maybe except tether  ::) ::) andI only wish when I started people told me about stable coins first, that way I would have saved so much of my money that got lost in swinging asset value.

and remember thet JPM Coin exists, JP morgan is not the first bank in us with its own crypto but do you see any fud or hype about it? know why? because they're actually using the crypto for its tech benefit and not based on hyped value. More and more banks will follow the same path as the industry matures.

It is not just that. It is also the ability to be paid and knows you will be getting paid because the transaction cannot be reversed. It makes working online easy and if you normally get paid with paypal you can talk to the people you do work for and get them to pay you in bitcoin instead of whatever way they would normally use. In this way bitcoin empowers us. I just love how easy it all is and no need for banking things or long waits.
The trading and investing side of things that are also profitable and I agree I too cannot see any alternative. I don't want to and I don't need to. I have chosen to live the crypto life and I will never turn back. xD

All the things that can banks do will be done just to stop cryptocurrency on manipulation of the world currency.
Though, BANKS will never succeed and sooner or later they will adopt the new currency and go with the flow!

Sooner or later, the big banks will have no better option than to fully implement blockchain into their tech base as its sweeping all spheres of life

It will already happens since bitcoin is the rivalry of banks. We already change our system of investment and probably, many banks are looking for another way to destruct bitcoin. They want bitcoin to destroy because of their benefits. However, I am thinking that bank is also concern about investors because we don't know what is the goodness of our investment and savings in cryptocurrency.

I think majority will say bitcoin here. It is so far the best performing asset, yes, you heard it right. It has gain more than gold and oil, https://www.ccn.com/surging-bitcoin-2019-best-asset-globally. Maybe there are a few who will go for privacy coins, for obvious reasons.

do you even have to ask?
we don't have any cryptocurrency that is reliable other than bitcoin. so the choice is very simple since we only have one option. the others are either so unreliable and unsafe that we can't trust them. for example ethereum is not immutable and it is centralized, or they are doomed to fail because of their design decisions like having unlimited supply, having gigantic blockchain size that prevents regular users from running a full node,...

it is strange that you are coming up with a new term called "FinTech banks" which doesn't even exist! but as for the big banks and their going against bitcoin is not a new thing. they have always felt threatened by bitcoin because it is out of their control, unlike fiat that they fully control and is their survival. so they have gone against it so that they could at least slow down its mass adoption and their demise.
but it won't last like this. eventually they will realize their defeat and see  that they have no other option but to adopt bitcoin themselves and start changing their structure in order to survive longer or become obsolete if they don't.

I think Im gonna use Bitcoin if ever I transfer my fund.mostly I think they gonna choose to use bitcoin because it is trusted that your fund is secure.well as I always said it is easy to use base on my experience.

It is true that bitcoin is the only reliable coin in the entire market and none of the people who invested in bitcoin will not end up in a loss until they do some foolish shit and start selling when the market goes down and bitcoin is the only coin you can trust in the long term, but i have a difference in opinion when it comes to every Jack and Harry running a full node, if someone is planning to run a full node they have to upgrade to the minimum standards required and it is my opinion regarding that as majority of the users are here to invest in it and use the platform and not to run the full node, it is a honorable position if someone wants to run a full node to help the network become decentralized  :).

Traditional banks are earning their money from maintaining people's card transactions (acquiring). This is why they are happy to provide credit cards with 0% loan.
All of them have their huge IT teams that are gathering data from their clients (both companies and private users) to increase their profit. Even all those AML things they do is nothing more than an algorithm that is looking for deviations. Almost all their activities is a pure IT stuff. What else is not clear?

If I keep money in the bank, then the bank will give me the interest. But the bank will give my money as a loan to anyone else without asking me. That does not bitcoin. There are limited withdrawals and deposits in the bank. But there is no bitcoin that I can withdraw as much as I want. And Bitcoin Security is more than the bank. For which I will keep the money in Bitcoin.!!!!!!!

Indeed it is a 3rd party with there own interests on the first place and gaining profits over there customers back. Sure they will fight bitcoin where they can. 

Look this:

https://coinmarketcap.com/all/views/all

we have 2225 altcoins, to answer your question, I would ask another question: how many shitcoins are you seeing? I can answer that question, it's more than 80% of shitcoins, so it's not very difficult to choose which crypto is better. In my opinion, bitcoin is the best option

I dont suggest you to put all your money on cryptocurrency we all know how volatile it is, but if Im going to suggest you Bitcoin is the best.

As I said above it is not a good idea to put all your money on crypto, you dont know when emergency come to your life that you will need to get the money, what if the price at the time you need money crashed.

Haha do you bitcoin is not volatile? Every decentralized cryptocurrencies are volatile in nature, that is what gives the profit for all the traders so we need to utilize that and should not worry about it.

Never think about banks they not worth to stay strong for long years. Soon bitcoin and other cryptos will capture its market.

well if you ask me what crypto i will hold for long term i will hold bitcoin with over 50% and few percentage of eth and last for the different token.

An easy answer. It will always be bitcoin as my first pick and maybe newbies should also think this way.

You could diversify afterwards. There is no need to be in rush.
Reasearch and think of another crypto currency where you want your funds.

ETH is my next option after BTC. But still, a larger proportion will be at BTC. No doubt about that.

I like what @dothebeats did, investing more in crypto will seems to profitable at this time than of real assets. It is just to open up our mind and be very resourceful of anything we can do to generate money as a source.

Yeah, investing in crypto is risk and we know it since before but somehow we need to be along the risk cause that's the only we can make this things right. Choosing the right coin will be a best solution for not losing our funds and I'm preferred to put my money into top 10 altcoins rather than of seeking into cheap coins.

there are many ways to move assets from bank to crypto.  I prefer to buy with a voucher.  then convert in the local exchange.  or you can use PayPal services and others.  I prefer to save assets on BTC or ETH.  both are my top choices.

Do I only think that between the title and the contents of this post is not connected?
However, in essence, there are now many people who have diverted their funds to cryptocurrency and banks in the world cannot block it. Maybe there will be many banks that oppose, but can they really stop it? I don't think so, or it's hard to do that. Many people think that saving money in the form of cryptocurrency will be more profitable than in the bank and there are many more benefits that can be obtained.

Banks can't fight crypto forever , they will go with the trend eventually and right now they are trying to control crypto space !

yes.  traditional banks will be defeated by a decentralized system.  the bank will die.  to convert fiat for crypto is our problem today.  Application services are also limited.  but maybe in some countries you can use bitcoin ATMs.  or we can use other services such as Luno or Coinbase.  in my opinion BTC and ETH are the best investment places until today.

No fintech banks will disrupting traditional bank . but, when i want sweep my funds into cryptocurrency, Of course i will sweep into Bitcoin and hold it for along time without doubt anything.

To me it is not so much of a risk but more of a matter of getting on board. I believe very strongly and just know that the bitcoin I hold today will be worth much much more in years from now. I want a good life for myself in the future and that is why I keep most of my crypto currency in bitcoin.

For long term investment I'll agree to move my money into BTC but I'll also add ETH  80% for bitcoin and 20% for ethereum, the wait will be
fruitful when another bull will bring everything high, progress and more adoptions will make your investment to grow more while holding this
two specific coins, another year or two for me will be the time frame to see this.

this topic is already exist in economics and what's worse is that you just copy pasted it. link: https://bitcointalk.org/index.php?topic=5151905.msg51384404#msg51384404
Mod will most likely delete this thread.

There is no limit in bitcoin, that's what makes bitcoin always survive from the attacks of big banks. You can withdraw whatever money you want to use Bitcoin, while in banks there are limits to spending and attracting. I think that's also what makes banks hate bitcoin, by the way the bitcoin system will always win in compared to centralization from bank

It's either they adopt and join it or continue be against it. But as long as the money is flowing in to crypto's that will encourage them to get into it. They just can't miss the part of being with one big industry because it can also help their industry grow.

I won't argue on what's more profitable and not but I'll be sure with what I'm investing and can't miss both ends. In short, real assets + crypto combination is an ideal investment.

I will definitely use Bitcoin for long term purposes but i dont think banks are against crypto since there are no official statement of them about the issue. Traditional banka seems odd but i know that banks and crypto will get along together in the future since they are both particular with currency and investment.

I really don't think i would want to swap all my fiat currency into crypto for the very obvious reason of volatility, yes crypto is given back power to the people to be able to have control of their assets but there are still lots of work to do to bring it to the level where everyone will feel comfortable to store their values with,
I think if at all i will consider this, then i will be chosen one among the stable coin in the market, i can't afford to get my emotions up when btc goes into bearish mode ::)

i also don't like banks in general, they give almost no interest in money, although they use them to invest them, in fact they make you pay even for the smallest service,banks are against the crypto because they steal potential customers if you want to switch to crypto i would recommend bitcoin or some stablecoin...

In my opinion, everything is logical. The bank gives you interest on deposits precisely because it uses your money and shares its profit from the work of this money. As for Bitcoin, its price cannot grow all the time. The time will come when it will no longer increase. Banks will always work and pay dividends on deposits.
Large banks will oppose cryptocurrency until it is legalized by the states. After that, they will adapt to the new conditions.

No matter what the situation surrounding the cryptocurrency sector could be, bitcoin will surely be my primary focus when it comes to my portfolio. There are lot of banks which have been going against cryptocurrency for a long time but still cryptocurrency is still proofing strong with wide market cap and more adoption globally. I see no reason why banks should be against cryptocurrency rather they should be looking for alternative means to allow crypto coin be among users assets holding and daily transactions utilisation

I don’t see any connection of the Title to the question it’s irrelevant lol
I am 100% sure that it was bitcoin who must I invest to hold,for the safest and secure investing,though many will try to steal our coin so we must be ready from hacking and scammers for they are part of his community since then,and specially this growing market,those damn scammers and hackers are circling the forum to find victims

Bank is a business, where there is money banks are there too. In my opinion banks will never be against crypto, they’re not just ready to introduce it to their clients due to its lil bit complicated. Time will come that most major banks might offer crypto savings account for their clients in the future.

I think it has become natural for many banks to oppose crypto currencies. This bank's opposition because the bank feels threatened by the presence of crypto currencies. Banks as controlling fiat currencies have competitors in taking people's hearts. But if indeed the crypto currency is more profitable then there is no harm in us switching to crypto currency because that is our right. We can choose crypto currency coins for our investment fields. I advise you to invest in btc or eth. Both coins are the most potential coins at the moment and can provide real benefits. I hesitate to invest in other coins because in essence the crypto currency market is controlled by these two coins.

well i would choose coins that have a high liquidity such as eth, bitcoin and ltc. But if your purpose to only hold and you are afraid with the fluctuation tether might be a good option to consider

Ether, Ripple or Bitcoins is the cryptocurrency I will convert all my funds into in case I am left with an option to move my money from fiat to crypto. With these cryptocurrency, no matter the bear market , they will sooner or later bounces back.

The fluctuations among those coins are reasons of the volatility of the general cryptocurrency world. Your suggested coins are good but for Tether, am not just interested to invest in it. Bitcoins and Ethereum are my major coins which i believe can yield more profits after a longtime.

To provide most liquidity and stable value, I think stablecoins is the best choice for that.  It is like preserving the value of our money on the long run since fiat currency is subject to inflation and value depreciation.  If we want a bank like crypto asset, PoS coins best suited for that.

Fiat will be always needed. It will be a big mistake to start working with the cryptocurrency only and give up traditional money. The best choice is to combine both. Actually, the banks will be also needed in the future.

These are two opposing financial storage centers so there will be a sort of competition in these two games. I leave the rest to every individual on this earth to choose their side as we all have what we want and don'ts. It's very normal to see this big sides this way and we can choose where we want at any point in time.

We should not go against the banks due to obvious reasons. BTC and altcoins are not enough to fully replace a current banking system. It will be a big mistake to think like BTC transaction can handle all worldwide transactions. There is no mass adoption yet.

They could work together with cryptocurrenies but they refuse to just out of fear of not understanding what it can do or will do to their financial system with the way it is currently running at the present.
Banks are of the old system where they only rely on tested and true methods of doing things. Nothing else and no other way until they test it make it true themselves. But what comes along with the blockchain if they decide to use it for their everyday banking operations is cryptocurrency which they see as a threat to their current banking system as a whole.
Or they just simply dont want to spend the time or money to convert their entire system to accept cryptocurrencies for payments and savings.
Who knows really. ???

For me, big banks moving against crypto is no longer news and I'm not surprised at all at their efforts to cripple crypto, for them, the overwhelming successes of cryptocurrences means a loss for the banks as money that could have been invested in the banking sector, could easily end up finding its way into the crypto space, thereby denying the banks of the revenue they could have obtained from such transaction.

I see a lot of people here that ask how are banks against crypto if they are using blockchain technology. Well, this are two different things and they should not be mingled. Bitcoin is a cryptocurrency that's working on blockchain. Big banks like Bank of America or Bank of China are already using Blockchain but this doesn't mean they are using cryptocurrencies.

Regarding to the OP, I didn't saw any big banks going against crypto. The bank you have mentioned is pretty small and even if it goes against crypto its not going to have any affect against it. Banks have not shown much interest in cryptocurrencies but they've also didn't announced to be against them.

It's the end users itself can justify where to place their trust using this two opposite sides, there's always negative approach coming from different
sides but when you already knew how things works, you can also consider both to work together on your own ways, money you earned from crypto
can be converted and store inside your bank and vice versa.

They are facing a big problem going against crypto as they cannot stop crypto, they have been trying that's why people panic and with FUD it makes the price of bitcoin to fall down, some even said that crypto or bitcoin is a bubble, but where are they now? it's a big slap in their face as bitcoin when dump still recovered and now poising to return to its ATH price.

This because the users had already withdraw their money from the banks investing in bitcoin and other investment scheme. Here in the Philippines, the banks had complaining on investment scheme which is KAPA investment company that promise to give 30% profit in just one month. This sounds like Ponzi but but many of the banks began to worried because huge money flows held by KAPA and only few of the savings left for them to hold. 

No one goes against banks, here it is stated about the big banks going against cryptocurrencies. Banks will always charge high on each and every transactions as well tries to keep the user funds under their control. At times on need of the user it wasn't able to withdraw, and the same has made people to go much on bitcoin. This has caused a big revenue loss to the big banks and it is the reason for big banks going against cryptocurrency.

No one is doing anything against the banks in this market, I agree. (Except Ripple, they are constantly trying to work with banks.) But many cryptocurrencies are inherently working against banks. In other words, what some projects want to achieve is interfering with the working area of banks.

I think that the banking system will lose if it fully opposes cryptocurrency.  Smithy is raising owners of large banks who lose influence on their customers, and also they lose a significant portion of the profits that remain in the pockets or wallets of users of cryptocurrency.  But they will have to accept the fact that the real financial system of the world will exist in tandem with a cryptocurrency market.