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bettercrypto
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June 07, 2017, 10:35:10 PM |
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By storing bitcoins in a bank, you're really destroying the whole purpose of bitcoins. Suddenly the bank has full control over all the bitcoins you have. There are very few banks that supports bitcoin. I only know about one, which is a bank in Norway. Currently this bank simply connects to coinbase and uses that to buy/sell and store bitcoins. I don't know wether this bank has control of the bitcoins stored here.
I agree why let others store you precious bitcoin for you and pay them to have control of your bitcoin stash when you can do it yourself through different back up method that can make sure that your bitcoin is safely back up and saved. |
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GreenBits
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Activity: 1148
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June 07, 2017, 10:52:25 PM |
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By storing bitcoins in a bank, you're really destroying the whole purpose of bitcoins. Suddenly the bank has full control over all the bitcoins you have. There are very few banks that supports bitcoin. I only know about one, which is a bank in Norway. Currently this bank simply connects to coinbase and uses that to buy/sell and store bitcoins. I don't know wether this bank has control of the bitcoins stored here.
Unless the account is going to yield interest, there is little incentive to store bitcoin with someone else, the security risk unless they offer insurance isn't worth it. It kind of defeats the basic purpose of storing bitcoin, which is that it rewards you for holding (its deflationary), and you don't have to pay a bank a service fee for that feature. ' It is a defect of fiat that it disappears slowly over time.' Thus, it's logical to have more motivation to save bitcoin than fiat. |
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KesoNie
Copper Member
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Merit: 270
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June 08, 2017, 02:39:45 AM
Last edit: June 08, 2017, 04:08:04 PM by KesoNie |
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Saving bitcoins is the best in coins. ph it is an app which serves as a wallet of the bitcoin. with the coins.ph your bitcoin is safe and it is proven to be legit and it is not a scam. Saving bitcoins is useful because there will be times that the value of the bitcoin will increase.
saving bitcoin is the best way to increase the number of your bitcoin, but i think those people who will invest bitcoin for a long time it it will be more profitable. to me i am going to hold bitcoin for a long time may be i safe it for next 5 years, and i am sure that after 5 years it will surely give me good profit. It is good to save bitcoins for a long term investment. Sometimes you may tempt to withdraw it or get it now. But we need to save for the future use and for the future of our family. earning bitcoin for me is an alternative way to earn some extra money that I can buy for my family and it will be a guide to provide the needs of ours. |
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canvan
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June 08, 2017, 03:19:55 AM |
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The whole idea about bitcoins is to avoid using a bank. You shouldnt really want to take bitcoins that you own and then put them into some one elses trust. There arent any banks that do what i think your looking for but there have been companys that usually end up scamming you for your bitcoins. If you want to earn a percentage of the bitcoins you own then the current best way is just to buy and hold. You wont earn more btc this way but you more than likely will earn more fiat for every btc you own.
The whole idea about bitcoins is freedom to use it however you want, perhaps for you that means avoid using a bank but for a lot of people maybe even the majority would be interested in using banks for this. As much as you may hate banks they serve a purpose which is beneficial to most people (home mortgages are a typical example). |
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ASHLIUSZ
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June 08, 2017, 03:23:59 AM |
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Whether you save in terms of fiat or gold or bitcoin doesn't matter. Saving is always a good thing to make us move forward to reach next levels of living. If bitcoin is preferred for the saving them one could get an better profiting which is not possible with other forms of saving where the value will be same from the day we begin, whereas with bitcoin based on the variation we might get doubled or tripled in our savings.
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chichan13
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June 08, 2017, 03:24:42 AM |
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Sorry. Theres no bank which is actually accepting bitcoin. Banks are against bitcoin. And i guess theres no bank will accept bitcoin. You only have to get bitcoin wallet. This will act as your own bank. Hardware wallet, web wallet, and lots of kinds of wallet are available. But you can exchange bitcoin to cash and deposit it directly to your bank account. The rate is depending on exchange because every exchange have diiferent rate.
Saving bitcoin is a nice idea for us but there no bank will accept bitcoin, But then you can use your online wallet to keep your bitcoin safe and secure. Having bitcoin will help you in gain much income in some easy way like in trading and investing. |
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qwertyup23
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June 08, 2017, 04:04:26 AM |
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If ever I have a bitcoin, I will definitely convert it and withdraw it in a bank and use it for a long-term investment plan. No matter how high or low the prices of these coins are, I'll withdraw it right away and not hoard them.
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Meraki
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June 08, 2017, 04:12:56 AM |
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You can cash-in/out at banks but they actually won't keep your bitcoins. With bitcoins you are somehow your own bank. You just keep your coins in your wallet and it's up to you if you would sell or buy more depending on the price changes. Considering how the price is steadily increasing I suggest just hold. Maybe deposit a set amount from your paycheck to your wallet and just live off the "profits". Of course only buy with money you can afford to lose. Better be more prudent with your hard-earned money.
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zulkarnaen
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June 08, 2017, 05:02:08 AM |
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Whether you save in terms of fiat or gold or bitcoin doesn't matter. Saving is always a good thing to make us move forward to reach next levels of living. If bitcoin is preferred for the saving them one could get an better profiting which is not possible with other forms of saving where the value will be same from the day we begin, whereas with bitcoin based on the variation we might get doubled or tripled in our savings.
Of course there are many advantages gained with bitcoin, even with the bitcoin hold on the wallet is an investment that can certainly be profitable if we sell it at the time of price rises. |
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Remainder
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June 08, 2017, 05:23:48 AM |
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For me I save my bitcoin online like in bittrex.com because if I want to trade it with other alt-coin then it is easy for me to do so without paying higher transaction fee.
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sobsitesearch
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June 08, 2017, 05:28:24 AM |
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Whether you save in terms of fiat or gold or bitcoin doesn't matter. Saving is always a good thing to make us move forward to reach next levels of living. If bitcoin is preferred for the saving them one could get an better profiting which is not possible with other forms of saving where the value will be same from the day we begin, whereas with bitcoin based on the variation we might get doubled or tripled in our savings.
Of course there are many advantages gained with bitcoin, even with the bitcoin hold on the wallet is an investment that can certainly be profitable if we sell it at the time of price rises. Agree with you, that is why i am continuous collecting bitcoin as many as i can to save it for my future and future of my family, Those users who are investing money in bitcoin they are one who are getting much higher profit because of continuous increasing the value. |
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DayVid_GI_DEV
Newbie
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Activity: 41
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June 08, 2017, 05:35:25 AM |
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With a savings account at a credit union, one can earn a very small percentage of interest. The price of bitcoin is constantly fluctuating. I'm seriously considering closing my savings account, and converting the fiat into bitcoin to save. There are some friends and family who wouldn't recommend this decision.
Are there any members here in this forum who WOULD NOT turn their savings account into bitcoin? What are some of the other risks besides bitcoin (or any other altcoin) completely crashing?
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Magkirap
Sr. Member
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Activity: 896
Merit: 267
★Bitvest.io★ Play Plinko or Invest!
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June 08, 2017, 12:31:13 PM |
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If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
Saving bitcoin is nice to all bitcoin users. Saving bitcoin will help you to sustain your need in the future. I think there’s some bank that accepts bitcoin as deposit of their client or costumer. But some bitcoin users use online wallet to keep their money safe and secure. |
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FiiNALiZE
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June 08, 2017, 04:31:54 PM |
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So far there is no bank that lets you save your bitcoins. The HaoBTC wallet allows you to receive income if you let your Bitcoin stored there, but I do not know exactly the rate hike.
There’s a thing on YoBit called an “Invest Box” or something similar to it and that allows people to put a small portion of Bitcoin into it and the Invest Box will gather some interest per day because of the money being deposited in that portion of the website. I think that it’s a good system though I won’t try it out because the payout is really low compared to the risk of just putting the money in a regular Bitcoin address and holding it long term. |
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tittensor
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June 08, 2017, 05:29:41 PM |
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If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
Its sad to say but there are no bitcoin banks existing online. If you want to earn then just hold your bitcoins in your wallet and wait for an inflation. That way you will get more profit out of your investment. The only way to save in banks is to convert your bitcoin into fiat currency and then deposit it on banks. But holding bitcoin is much profitable than savings on bank. Agree , the only way to save in banks is to convert your bitcoin to real money and deposit to your passbook or ATM . I would like to you say hold your bitcoin you can get a lot of profit from it. Bitcoin gives you a good interest than bank. Think properly don't think rushly . I not hope Bitcoin can saving in Banks, it can do that, Bitcoin is look like as Dollar or Gold? No no no, Satoshi not hope that, he want Bitcoin can change old system payment and replace it, not become to like a common property. |
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DayVid_GI_DEV
Newbie
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Activity: 41
Merit: 0
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June 08, 2017, 11:54:24 PM |
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For me, one of the important highlights of bitcoin is being able to go around the banks. Sort of cutting out the middle man if you will. Most big banks are corrupt anyway.
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Palider
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June 09, 2017, 06:05:50 AM |
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i think bitcoin is created so that we can transact anonymously. for now there is no bitcoin bank that you can used. in some news. by 2030, bitcoin will go up to 500k per bitcoin.
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syarifudin
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June 09, 2017, 06:11:19 AM |
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Saving bitcoin is a good and effective investment because it can be profitable if bitcoin prices go up and can sell it.
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Scorpion
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June 09, 2017, 06:14:31 AM |
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I want to buy up as much BTC as I can and save it til the year 2045. Just a weird little goal I have.
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Pattart
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June 09, 2017, 06:16:10 AM |
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i think bitcoin is created so that we can transact anonymously. for now there is no bitcoin bank that you can used. in some news. by 2030, bitcoin will go up to 500k per bitcoin.
Lol I dare to make sure that the news is just a hoax news and just a mere speculation of bitcoin users. The price would not be possible to reach $ 500k, I think that opinion is too much. There is currently no bitcoin bank |
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