The first bitcoin bank!

[FanatMonet]

If we talk about legal way to transfer BTC into cash in large quantities , that s going to be a problem since AML laws are more less the same in any developed country. If we talk about securely saving your BTC, that s OK, but there re already so many different options.

All in all, what is that bank going to do?

The transfer of BTC into the currency is more or less developed in North America, Western Europe and Australia with Japan. But for Latin America, Africa and other less developed countries this can be a big problem

[deisik]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

I have commented many times about bitcoin in my posts, It really bad for bitcoin;'s future. For short term price may take to moon. Banks accepts bitcoin means they will reserve right to control the transaction and control it. Fees and charges would same like bank in future. Example, now we are able to send the bitcoin to any part of the world with the same mining fees but in future it will depends upon the location. Due to this Paypal, moneygram, International exchanges will retain their business easily in the market. Hoping everything should go good in future.

I don't really see how that could be bad for Bitcoin's future

People are hellbent on confusing regular banks with Bitcoin "banks". In fact, Bitcoin "banks" have been there for ages, any decent web wallet can be rightfully called a Bitcoin bank. Regular banks operate with fiat, and you have to use them for any significant amount of money, whether you like it (them) or not. It is not the case with web wallets (or Bitcoin banks, if you please). No one is forcing you to use them, so there is absolutely no reason to think that such banks would bode ill for Bitcoin or threaten its future. This is the principal distinction you fail to make

[asyakashi]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

I feel comfortable with the blockchain-based financial system. A new breakthrough for financial transactions without involving third parties (banks). And this is an advance in the banking world.
Is not this a setback. I disagree with the digital bank

[Pettuh4]

The sound of Bitcoin bank brings to mind centralization and the ability of the powers that be to control our finances so I have never supported the idea of a Bitcoin bank besides, every Bitcoin wallet is more or less lijebyour own bank so why do we need another bank to protect your bank?

[bitcoin199]

Interesting, that bank is an actual bank, correct? I mean using the depositers funds through profit-based system? if not it won't add much to the current stage, we are easily able to send TX's through wallets (which act as our banks), if they don't offer profit on BTC deposits then it's nothing new, and better yet, offer loans through BTC.

[7788bitcoin]

To me this is just another business organization accepting bitcoin as a payment. The underlying mode of transaction is still fiat- unless they allow bitcoin deposit directly into bitcoin accounts.

Coinbase doesn't pay interest for any deposit, and does not use you coin for investment, so to me it is just a "warehouse" for your coin.

[Baby Dragon]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

I think some bank accept bitcoin for some reason and it will help the people who use it that they can deposit there bitcoin in that bank. In the near future all banks in the world will accept bitcoin as deposit of their costumer to get more funds. Having bitcoin is a good idea for us.

[emezh10]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

In my opinion this is totally bad news for me , because I am also a Bitcoin trader and making deals in the Bitcoin to buy and sell daily for the fiat ( USD and local money ) .
But if the Bitcoin bank will start then surely most of the persons will use Bitcoin bank and that will be results into the lake of the customers for me and finally this will steal my job of Bitcoin trading . So I don't like it , but idea of Bitcoin bank is good .
Here also another traders in the Bitcoin field , will also leave Thier job of trading .

If there a bitcoin bank it will help the people who use it and they can deposit there bitcoin instantly it will help the bank to get more funds. In coming future all bank in this world will accept bitcoin as deposit of there costumer. Having bitcoin bank will help all the people to keep there bitcoin safe and secure. I think no ones will try to stealth in that bank.Lastly, i think some bank accept bitcoin for some reason.

[krisnt80]

Guys someone had reported this owner at scam acusation soo i would think twice before deposit any satoshis at this banks, i dont like to have my bitcoin into a bank, as a trader a bank supporting bitcoin will need legalization and as i know banks doesnt support bitcoin, atleast not directly, soo open your eyes and read all about the company you looking at, and quest your self do we need centralization ?

[NoNetwork]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

I think it is good because the bitcoin are being accepted by these banks, but I think having a account on that bank where you send bitcoin makes you not anonymous. Making it easy for them to know where you make your profit and where you use it.

[mrcash02]

Guys someone had reported this owner at scam acusation soo i would think twice before deposit any satoshis at this banks, i dont like to have my bitcoin into a bank, as a trader a bank supporting bitcoin will need legalization and as i know banks doesnt support bitcoin, atleast not directly, soo open your eyes and read all about the company you looking at, and quest your self do we need centralization ?

I have seen about it too. Found on this site: https://ftalphaville.ft.com/2016/10/18/2177180/the-founder-of-digital-bank-wb21-was-previously-sued-for-allegedly-stealing-millions-of-dollars/

I don't know if this site is trustful, but I believe they wouldn't fake an article about the founder of this digital bank, WB21. Article from last year.

[mike1183]

Excellent news, finally a bank not just slightly cooperating with an exchange but one showing completely acceptance and cooperation with BTC which is impressive completely. People in the EU should really make use of this one, companies and individuals alike IMO.

[ScorpionKing]

Didn't understand something even after reading the article, will the accounts be in BTC "i.e balance: x BTC" or will it cooperate and integrate BTC merchants and transfer balances to fiat immediately... Curious too if they offer some interest on BTC deposits/accounts.

[franklin9]

Like it, But:

- is this a real bank? I mean does it exist actually or just virtually, does it have multiple branches, offices, sites etc...
- how will they handle accounts? do deposits come to your personal address etc...
- does it offer interest? otherwise it's just a less comfortable wallet than Electrum and Multibit.

[pearlmen]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

I feel its a good news after all simply because it still promotes the acceptability of bitcoin to other spheres of the society which will even make someone somewhere try to find out one thing or the other about bitcoin. However, I will want to read their terms and condition very well as it relates to the volatility of bitcoin before concluding whether its the right service to use at this point or its not another way to make some people richer that they already are.

[qiwoman2]

I believe it is a good idea because it will help increase the Bitcoin market cap as more and more non techy lay people will want to get a piece of the Bitocin pie. If all the ordinary folks started a savings account in Bitcoin can you imagine what that will do to the Bitcoin price? 

[bohr]

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

According to this article it states that Digital bank WB21 announced that it has added Bitcoin as a method for its customers to transfer and deposit funds to their checking accounts. WB21 customers can now send Bitcoin to make real time account deposits in any of the 18 currencies supported by the bank.

This is the first time we will be having a bitcoin digital bank and as of now they are located at California, Switzerland and Hongkong.

Is this a good news or bad news, whats your say?

Exchanges are very much like banks now so to me this is not a great development but for the average person this could lead them to use the bank to store their bitcoin and to me this is a mistake since we need to be the only ones in possession of our private key because if we don’t then we don’t have any coins.

[deisik]

Like it, But:

- is this a real bank? I mean does it exist actually or just virtually, does it have multiple branches, offices, sites etc...
- how will they handle accounts? do deposits come to your personal address etc...
- does it offer interest? otherwise it's just a less comfortable wallet than Electrum and Multibit.

Checking accounts typically don't offer interest

Even in respect to fiat, though some banks do pay interest on your debit card balance if you make a certain total of purchases during, say, a month. Regarding virtual versus real, some genuine banks may still operate mostly online. I am myself a client of such a bank which has only one central office, no branches, no subsidiaries or remote offices. In all other respects, it just a regular bank which has a banking license issued by the Central bank. The bank discussed here seems to be registered in three countries, though I can't say how well it matches the notion of a regular bank in those jurisdictions

[posternat]

I hope this ain‘t real. I am a trader so this is bad thing in my part, for sure people will prefer to use bank for their transaction, especially those who buy big quantity of bitcoin especially now that the value is gettig higher and higher so it is more risky to buy coin to a strangers like me but we will lose our opportunity to earn.

[stompix]

http://theheureka.com/wb21-founder-has-history-of-fraud

I lost count. How many to-date posters on this thread, along with the OP and the media source, didn't do ONE GODDAMN BIT OF INVESTIGATION related to this story?

I'll wait, you fuckin morons!  

Nope , nobody gives a damn about what is posted after the first post.
Just read the title post two lines of nothing and get paid for a signature campaign.

Not only is the article outdated , the bank shady... but it is not even a bank :

“As soon as they send Bitcoin to our address, we credit the value in the currency the customer has selected to their checking account,” added Gastauer. “The funds are instantly available on the account and can be sent out by wire transfers or spent with a WB21 debit card. The process to convert Bitcoin into cash on a bank account is the fastest I am aware of. For us, the acceptance of Bitcoin is a great way to support our global rollout and improve customers’ fund-depositing experience.”

ps.
are we the only ones on this forum that read the dates? )))))