Saving bitcoins

[Itchyworm]

No banks for bitcoins is available by this time.Just an bitcoin wallet and when comes to deposit rate there is no minimum deposit rate

[uneng]

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?

Hello, we don't have any online bank in bitcoin. Or if you like you can try Xapo, Coinbase to entrust your bitcoin to them, because they are both bitcoin bank style, which also both centralized. but the disadvantages is once you didn't meet their requirements, they can closed your account anytime. That's all what I know about it, just correct me if someone find that I am wrong. Thanks

There is haobtc also, a chinese wallet paying interest, it's the feature more similar to a bank that I found here. They look to be a trusted business and they are in the mining sector also, just saw positive reviews about them.
But don't expect to earn much interest from it, it's just better than nothing, as your money in another wallets isn't growing.

[Vikingr]

No banks for bitcoins is available by this time.Just an bitcoin wallet and when comes to deposit rate there is no minimum deposit rate

You are right if someone is looking for a bitcoin bank then for them nowadays there is only one type of banks for bitcoin and that is online wallets in which they can store their bitcoins like banks but they will not get the profit what the fiat banks are giving.

[crairezx20]

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?

Hello, we don't have any online bank in bitcoin. Or if you like you can try Xapo, Coinbase to entrust your bitcoin to them, because they are both bitcoin bank style, which also both centralized. but the disadvantages is once you didn't meet their requirements, they can closed your account anytime. That's all what I know about it, just correct me if someone find that I am wrong. Thanks

There is haobtc also, a chinese wallet paying interest, it's the feature more similar to a bank that I found here. They look to be a trusted business and they are in the mining sector also, just saw positive reviews about them.
But don't expect to earn much interest from it, it's just better than nothing, as your money in another wallets isn't growing.

For me i don't trust those online bank's if there is no proof of their licence online or they had a business certificate locally that they had a bitcoin bank online..
Like coinbase they have many issue if the price is going to increase the support of coinbase are the same as support of yobit. i heard many issue about their service.

Also in Xapo in my own experience i have my wallet there and never open again due to their security reason i cant log in because the sms verification never fix in my side never receive any verification in my number or even in email..  So if you really want to save your bitcoins better to think twice and look for most people use.. like now i am now using electrum even i am paying for fee for every transaction it is more safe than online wallet..

[Clement Kaliyar]

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?

Hello, we don't have any online bank in bitcoin. Or if you like you can try Xapo, Coinbase to entrust your bitcoin to them, because they are both bitcoin bank style, which also both centralized. but the disadvantages is once you didn't meet their requirements, they can closed your account anytime. That's all what I know about it, just correct me if someone find that I am wrong. Thanks

I never thought we have to have some requirements to open an account with Xapo or coinbase as i am using their service for a long time and i never had an issue with them till now,can you explain what you really meant by it.For me Bank means a financial institute that accepts deposit from the public and creates credit but i am not sure how that will fit in with the above service.

[richardsNY]

No banks for bitcoins is available by this time.Just an bitcoin wallet and when comes to deposit rate there is no minimum deposit rate

You are right if someone is looking for a bitcoin bank then for them nowadays there is only one type of banks for bitcoin and that is online wallets in which they can store their bitcoins like banks but they will not get the profit what the fiat banks are giving.

If you look at certain exchanges, then they allow you to store your coins in return for a certain interest rate. I don't see why at some point wallet services can't do the exact same thing. But then again, no service will just hand you over interest without them putting your stored coins to work in one way or another. It requires you to thoroughly check their TOS in order to know what the actual risks are.

[blackhawkeye1912]

Saving of bitcoin may lead one to profit or loss it can not be predicted because its rate is changing and may increase or decrease. But saving for future is good thing so saving of bitcoins is good.  

save bitcoin will not make you lose, because you will avoid scam and losses. for storing bitcoin will certainly benefit, because the future will be bright and certainly bitcoin already guaranteed price will be higher than now

Yup as we are seeing that the price of bitcoin getting higher and higher so its a smart investment to make as price will be much higher in future so its good to save as many bitcoins as possible as it has a potential to give us returns beyond our imagination.

yes i also think so that holding bitcoin in the present time will be more beneficial in future. i think it is very easy to buy bitcoin right now. because the price of bitcoin is currently very low and i think every one at least  can afford bitcoin to buy a little amount of bitcoin. and then holding it for a long time can give a good profit.

agreed, holding was a big factr to anyone here in bitcoin world. It is like you are saving money in your own storage  wallet which as time goes by your capital getting had interest depemding on the volume market that will get in into bitcoin.

[Blackdeath]

That's a good question.  Due to the design of bitcoin, it is a bit difficult to "loan" them (remember that banking is effectively a loan where the bank pays you interest).

Now, that's more on the theoretical side of things.  In practice, a major problem with loans in Bitcoin are the volatile price.  If the price rises suddenly, it could become more difficult to pay back interest; or alternatively if the price takes a heavy drop, the investor may lose money as what he is paid is less valuable now than it was at initial investment.

why is it difficult? it is the same as lending money. when someone files for a loan, bank reviews their application takes a collateral and gives the loan and then takes it back on intervals.
and price is no matter, because they lend bitcoin and receive bitcoin. and this can only happen in the future when mass adoption happened and price is already high and stable.

it is like lending USD and then USD price going down versus another currency!! that has no effect on how lending goes.

Bitcoins are not fiat, and therefore, can not be continuously printed.  Because of this, no one can guarantee to indefinitely keep paying out interest on loaned coins.  A horribly exaggerated example, just to make a point, is that if I somehow had 20,000,000 bitcoins in a bank, they could never pay me more than 1,000,000 total in interest just because of the limited supply.

bad example. if someone has 20 mil coins it means bitcoin is dead since 1 person controls all the supply and nobody takes a loan

Good points, BTCLovingDude.  I'm not sure I follow what you mean with regards to the USD price being less than another currency.  If you loan USD and are getting paid back in USD, I'm afraid I can't see where the "other currency" comes into play.  In my example, I meant a "pure" bitcoin loan where you loan X bitcoins and get Y coins back at regular intervals in interest, without translating to another currency.

As for part 2, guilty as charged.  That is a bad example indeed.  It was hyperbole to make my point.  If there are only 21 million bitcoins in existece, and we're not continually printing them up, we can't guarantee interest back on investments indefinitely.  Of course, short term investments should work just fine.

It's a good idea. Must work hard in able to save bitcoins. Bitcoins is such a beautiful idea kind of new currency. With bitcoin it has many advantages. If you start saving now in the future the value of it will be raise and if you already have many in the future you will be a millionaire. And it's because of your hardwork and patience. You'll be able to sustain you everyday need and probably in the future you'll able to buy all the things that you want. But remember if you saving bitcoin, don't forget to make a bussiness or investing it so that even if your using it still it earns and double. Goodluck to all who wish to save bitcoins.

[kidoseagle0312]

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?

I have a question for you, what is reason for you to save your own bitcoin in bank? Since you know that you are a bitcoin enthusiast, where you are the one who can keep your own password and the private keys to your bitcoin. Isn't is a kind of stupidity to give your own private key in the banks. And for you able to know we don't have any online bank who accepted bitcoin nowadays.

[MintCondition]

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?

I have a question for you, what is reason for you to save your own bitcoin in bank? Since you know that you are a bitcoin enthusiast, where you are the one who can keep your own password and the private keys to your bitcoin. Isn't is a kind of stupidity to give your own private key in the banks. And for you able to know we don't have any online bank who accepted bitcoin nowadays.

there's no need for bank , it will not be needed for bitcoin wallets alone can do bank works, wallets alone can transfer and protect our bitcoin Without any charges or with minimal charges only. So we better find more secured and trusted wallet that can protect and ensure that our bitcoin will be safe . Ensure also our transactions with convenience. Better invest bitcoin t store in wallet  than storing in bank.

[Gembul]

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?

I have a question for you, what is reason for you to save your own bitcoin in bank? Since you know that you are a bitcoin enthusiast, where you are the one who can keep your own password and the private keys to your bitcoin. Isn't is a kind of stupidity to give your own private key in the banks. And for you able to know we don't have any online bank who accepted bitcoin nowadays.

OP might think that if we save bitcoin in the bank would like save fiat in the bank and we can earn interest on it. But as we know now, there is no bank that accepts bitcoin, but if any I personally would be happy if the store bitcoin in the wallet that I've had. Why should involve the bank if we can keep our own bitcoin, on the other hand we are also investing. Although the number of our bitcoin will not increase, but if the price of bitcoin up then we can benefit if sold it. Thank you

[dihari]

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?

It is really good question to discuss here and I hope we will get the answer soon. As I know there is no bitcoin bank has been built right now in the world. Bitcoin is not as same as dollar, but talk about saving all kind of money will be have each interest its self depend on many factors like inflation, central bank interest rate, supply and demand, and many more.
I really don't have ideas with this question, but soon in the future when bitcoin has it bank, I am pretty sure we will back to this thread.

[Blitzboy]

"Saving bitcoin in banks"? Well, that doesn't sound right, compares to what I know about bitcoin. I haven't seen or heard about any banks that offiacially accept bitcoin in their bank system, so how would you do this when bitcoin is not banks' favour? You can save your bitcoin in all kinds of wallet, you know

[batang_bitcoin]

"Saving bitcoin in banks"? Well, that doesn't sound right, compares to what I know about bitcoin. I haven't seen or heard about any banks that offiacially accept bitcoin in their bank system, so how would you do this when bitcoin is not banks' favour? You can save your bitcoin in all kinds of wallet, you know

As far as I know there are just banks that are still planning to do so. But with the implementation there is zero for it. Still I do believe also in the future that there will be banks that will be able to accept bitcoins from their depositors and will manage to adopt bitcoin for their services. As of now, our wallets are good to be called as our banks.

[kidoseagle0312]

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?

Your plan is not going to be happen because dude, at the present there is no online bank that accepting bitcoin so far. What's the essence of saving your bitcoin in the bank outlet, it's a kind of move of stupidity. You can save bitcoin without any assistance of any bank, your the who can take manage your own bitcoin and save it and keeping it your private key and phrase password.

[BitHodler]

"Saving bitcoin in banks"? Well, that doesn't sound right, compares to what I know about bitcoin. I haven't seen or heard about any banks that offiacially accept bitcoin in their bank system, so how would you do this when bitcoin is not banks' favour? You can save your bitcoin in all kinds of wallet, you know

As far as I know there are just banks that are still planning to do so. But with the implementation there is zero for it. Still I do believe also in the future that there will be banks that will be able to accept bitcoins from their depositors and will manage to adopt bitcoin for their services. As of now, our wallets are good to be called as our banks.

Can you point me towards one or more banks that are "planning" to accept Bitcoin in one way or another?

I find it very hard to believe that banks are seriously even considering to implement Bitcoin alongside their regular activities.

What I can see become reality is that one of the current existing wallet services/exchanges start offering bank related features. We're definitely not far away from this to happen.

In some cases this has already become somewhat of a reality, but so far none of the exchanges or wallet services have put all features into one place.

[Ayiranorea]

Saving of bitcoin is simpler and possible with the use of different bitcoin wallets available. Something good with it is the bitcoin being in our own hands. We can profit with the price difference taking place often without making investment.

[cryp24x]

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?

Your plan is not going to be happen because dude, at the present there is no online bank that accepting bitcoin so far. What's the essence of saving your bitcoin in the bank outlet, it's a kind of move of stupidity. You can save bitcoin without any assistance of any bank, your the who can take manage your own bitcoin and save it and keeping it your private key and phrase password.

It seems you have not read a bank that is accepting Bitcoin since 2016, I do not know if they are still accepting the Digital currency but I have articles that stated it is accepting Bitcoin.  Here are the articles that tells about this bank that accept Bitcoin.  Take note even though the bank is small ,it  is a fully licensed international Bank.

https://bitcoinmagazine.com/articles/global-digital-bank-wb-starts-accepting-bitcoin-deposits-1466103194/
https://www.entrepreneur.com/article/278501

[YuginKadoya]

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?

I don't think bitcoin would need a saving right now and even if fiat money and bitcoin are both currencies there are a lot of different things in both of them compare to bitcoin fiat money can be store in a solid vault and would wither when time passes but bitcoin don't have any that is why bitcoin doesn't need a bank to be stored and be save by it, I think the one that need saving are fiat currencies because of the value of bitcoin right now many people would want to but Bitcoin.

[Dudeperfect]

"Saving bitcoin in banks"? Well, that doesn't sound right, compares to what I know about bitcoin. I haven't seen or heard about any banks that offiacially accept bitcoin in their bank system, so how would you do this when bitcoin is not banks' favour? You can save your bitcoin in all kinds of wallet, you know

It doesn't sound good because it is against the core values of bitcoin. Bitcoin is a decentralised crypto currency which should remain free from any third party interference. Sender and receiver should be whole and sole authorities to involve in the transaction. I am not against bank or some institutions wishing to provide services against deposited funds but it should not be the main wallet to hold bitcoins.