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Author Topic: Banking with your bitcoin  (Read 1110 times)
jb26
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September 04, 2017, 03:49:00 PM
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Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

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September 09, 2017, 08:46:34 AM
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Actually the Bitcoin wiki says bitcoin is compatible and will be used for and by modern banks.
Like it or not, it actually makes sense to use modern banks with bitcoin for the same reasons we use them with fiat. Lending is a huge and important part of the economy, and some users really don't want to worry about security. You can "be your own bank" with USD Cash but most let banks worry about keeping their money safe. This will almost assuredly continue.

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September 09, 2017, 09:02:20 AM
 #3

It can surely happen with other banks because there are banks that are stubborn enough to accept bitcoin, and I had experience making transaction on banks with my bitcoin wallet but only in the converting bitcoin to fiat, but the think is the idea of making bank accepts bitcoin is a possibility and if that happens I think we don't need to convert anymore bitcoin with fiat and we can surely have a transaction over bitcoins directly. 

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September 09, 2017, 09:23:20 AM
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I think it's impossible, and I do not think we need to use a modern bank to store bitcoin, because bitcoin has its own bank to store bitcoin that is a wallet address, I think with our wallet is enough to store bitcoin, so I think the modern bank is enough for the tool to exchange bitcoin with physical currency, I think that's it

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September 09, 2017, 09:33:20 AM
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Banks wont accept bitcoin as their deposits and why would they? Bitcoin was developed for removing banks and to make a peer-to-peer transaction system. Also bitcoin kind of violates the rule that banks have which is to know where the money comes from so banks will never go for it. Plus,I heard banks are paying media to talk utter bullshit about bitcoin so that people will deposit money in banks and not in bitcoin. Such standards will one day make sure that the entire banking system will go down the drain.


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September 09, 2017, 09:48:25 AM
 #6

If any banks had a <expletive> clue (and a desire not to become extinct), they'd already be lining up to win your business in being the holder of your coins/millibits.

I'm not saying I'd be a customer necessarily, but on the whole people don't want responsibility for their own decisions and would see it as a sensible move.  [opportunity with neon lights and bells on it!  hello? anybody here? nope, no banks, they want to keep the model as it is].

The banks could make a sh1t ton as they transitioned out of the old to the new, maybe give you 10% pa, rather than 0% on fiat.  Grandma would like that.
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September 09, 2017, 10:12:19 AM
 #7

i would say maybe in couple of years, but not necessarily with bitcoin.
Xe.com added the bitcoin in its application, that would show a first step in accepting cryptocurrencies.
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September 09, 2017, 10:17:11 AM
 #8

as of now you can buy bitcoin in different bank, believe it or not bitcoin is so popular and bank see more potentials on it so there are banks that accept bitcoin deposit in you wallet address. If am not mistake Visa are accepting bitcoin deposit. also WB21 digital bank also accept bitcoin deposit Ref: https://www.business.com/articles/digital-bank-wb21-is-accepting-bitcoin-deposits/

also you can check news about bank accepting bitcoin in BITCOIN NEWS, Blockchain News and Coindesk.

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September 09, 2017, 10:23:35 AM
 #9

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?


Here we can withdraw bitcoins into your bank acc. But it goes through a company and they put it on your acc. It means they are 3rd party only. I do not know if it's bad and it affects my transaction. And I'm looking at what you can and you will not have any issues here so I think it can happen in other countries

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September 09, 2017, 10:31:06 AM
 #10

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

Well there are some banks who are allowing Bitcoin trade and accepting it, but not all will do one of the main reasons they won't accept is cause they can't risk being unlisted cause Bitcoin is not accepted as a legal currency. Even if your bank starts accepting it be careful if they are authorised, cause there are hardly any bank that can accept it.

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September 09, 2017, 10:44:21 AM
 #11

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

Well there are some banks who are allowing Bitcoin trade and accepting it, but not all will do one of the main reasons they won't accept is cause they can't risk being unlisted cause Bitcoin is not accepted as a legal currency. Even if your bank starts accepting it be careful if they are authorised, cause there are hardly any bank that can accept it.
Name me one Bank that takes bitcoins. It seems to me that at this time banks do not. The maximum that banks can be the intermediary between you and the exchanger you are changing the bitcoins to Fiat. Banks will never get a license to use bitcoins.

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September 09, 2017, 11:00:08 AM
 #12

It is likely that some will accept and some will not. The reason for the bank is your security and comfort. It's good we keep bitcoin in the wallet, if necessary use enough. Be careful in making transactions that you do not yet know. I also still need to learn a lot about transactions.  Smiley Smiley
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September 09, 2017, 11:58:09 AM
 #13

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

I don't know why you would want to do that. First it wouldn't be a deposit, it would be just an exchange so if payments are accepted in bitcoin, you don't really need to exchange them for fiat. If you want to exchange them for fiat, then using an exchange or services like neteller, payza, and who knows paypal, will be more than enough I guess. For bitcoins to be deposit in banks, then they would have to create a wallet themselves, and I don't see any advantages in that.

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September 09, 2017, 12:07:07 PM
 #14

How can i convert my bitcoin to cash..which exchange can i do that very easily
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September 09, 2017, 12:11:30 PM
 #15

With the advancement in technology, bitcoin became the cryptocurrency and get the value of legal currency in many countries like Japan and U.S.A. so yes we can use Bitcoin for our banking purpose, and we can transfer bitcoin to our banks thorough various bitcoin wallets.

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September 09, 2017, 12:14:54 PM
 #16

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

bitcoin is virtual curency, digital curency, with fluctuative price
without regulation, and not control anything country, so bank can't accepted direct deposit bitcoin

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September 09, 2017, 12:22:22 PM
 #17

The day that we will see the banks accepting Bitcoin (so using it), will mean they finally accept that the traditional banking system as we know is not so good as they claim since years. It will need a drastic change in their minds and not just for the sake of "yeah we can make money with it" A reboot of the system may be an opportunity to do it, but it may also need the biggest crisis than 2008 and others

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September 09, 2017, 12:28:57 PM
 #18

Well there are some banks who are allowing Bitcoin trade and accepting it, but not all will do one of the main reasons they won't accept is cause they can't risk being unlisted cause Bitcoin is not accepted as a legal currency. Even if your bank starts accepting it be careful if they are authorised, cause there are hardly any bank that can accept it.

Here we can withdraw bitcoins into your bank acc. But it goes through a company and they put it on your acc. It means they are 3rd party only. I do not know if it's bad and it affects my transaction. And I'm looking at what you can and you will not have any issues here so I think it can happen in other countries

How about you two name those "banks".
People are starting to lose common sense, they mistake banks with exchanges, they think that withdrawing money from bitstamp means a bank is accepting coins, having a bitcoin atm means there is a bank behind it and more and more stupid things like this.

as of now you can buy bitcoin in different bank, believe it or not bitcoin is so popular and bank see more potentials on it so there are banks that accept bitcoin deposit in you wallet address. If am not mistake Visa are accepting bitcoin deposit. also WB21 digital bank also accept bitcoin deposit Ref: https://www.business.com/articles/digital-bank-wb21-is-accepting-bitcoin-deposits/

also you can check news about bank accepting bitcoin in BITCOIN NEWS, Blockchain News and Coindesk.

Read the article?
https://www.wb21.com/WBPressRelease14.06.16/

 
Quote
As soon as they send bitcoin to our address, we credit the
value in the currency the customer has selected to their checking account. 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 roll-out and improve customers fund
depositing experience.”


There is no bank that is accepting BTC right now.
And sincerely I don't see any reason why they should and why I would even think of depositing my coins there.

Why? Really. Name one reason I should send my coins from my encrypted wallet to an entity which can simply say, we need to lock them down.

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September 09, 2017, 12:35:25 PM
 #19

Banking and bitcoin are pretty much not synonymous. Never does banking come to one's mind when you think about Bitcoin. Its just not happening because of the decentralized nature of Bitcoin. It does not allow banking staff to control it, and it won't let banks profit off of it, the banks won't be able to use it to get any business going. I think that pretty much covers it.
It isn't happening.

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September 09, 2017, 12:43:52 PM
 #20

Is it possible that banks would accept bitcoin as your deposits directly from your bitcoin wallet? Or they will ban it because of internet security reasons?

We're you dropped on your head or something ? You don't need a bank since you are the bank. The power is in your hands and you own your money. What you saying is you want to give the power back to the banks and you don't want to own your own Bitcoin. Dude you know the bank can freeze your assets. Your bitcoin wallet can never be frozen since it's on your control. I'm sorry bit if this is the kinda crap you going to be posting please stop. Sell all your Bitcoin for fair and leave. I know this is rude but what so you expect you being ridiculous and you not thinking.

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