The Canadian Bank Creates a Storage for Cryptocurrency.

[Thadeous]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

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[wxa7115]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

And exactly how is this a positive news? This is just a bank doing bank things, trying to deceive people into thinking they are necessary by offering a service no owner of cryptocurrency has any need for. We are our own bank, that is the spirit of bitcoin and until people embrace it the bitcoin revolution is not going to be complete, why are you going to give your coins to someone else? So they can pull more frauds on us, no thank you.

[pooya87]

it is a positive news in a sense that it shows they are bitcoin friendly and they are on the way to adopt bitcoin and possibly other cryptocurrencies too.
but it is a dumb service and i don't know who would want to use it. a "bitcoin bank" as the hundreds of topics so far in the past years kept asking about is here! but i still don't know who in their right minds would want to store something they can easily and securely store themselves, in a bank?!

[phd2d]

That is a great news for who haven't capacity manage their cryptocurrency.
In the future, bank is mean your own. I always find the way how to storage my cryptocurrency and not depend on anything.

[troglobait]

any news not related to the ban is a priori positive. Although for me any news is positive, this is popularity. It is growing, even negative news is increasing it. And it's good in the future!

litter if it is not clearly written, it's a translator)

[derigop]

That is a very good news to everyone who uses cryptocurrency. It will help all the people in the canada to store cryptocurrency and also it will help you too to use them easily. It will be secured too

[supermine]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

But why we need banks to store our crypto currencies?

Actually this is against the crypto currencies,because the main reason of crypto currency invention is making transaction without any third party help.But now they are banks involving here so they want to control our money that is what they are doing for centuries now they are coming to the crypto currencies too.

We can store our crypto currencies safely without anyone's help and we just have to store our private keys safely.So people don't want any banks to store our crypto currencies.

[shainasaz]

Its a positive news and it is great news for those crypto investors beyond the negative feedback from some of the bank but we thankful for the Canadian Bank that they will create a crypto storage in the midle of the year but not only the Canadian bank will do that expected another Bank again will be followed to created storage in cryptocurrency.

[Hagmonar]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

But why we need banks to store our crypto currencies?

Actually this is against the crypto currencies,because the main reason of crypto currency invention is making transaction without without any third party help.But now they are banks involving here so they want to control our money that is what they are doing for centuries now they are coming to the crypto currencies too.

We can store our crypto currencies safely without anyone's help and we just have to store our private keys safely.So people don't want any banks to store our crypto currencies.

I agree with you i think we dont realy need a bank just to hold our money and when the times that we badly needed our money it takes a long time to withdraw our own money just like today when the banks holding our money. If the banks holding our money they are always asking us a lot of requirements. Thats a big hussle for us we are the owner of that money and we freely use our own money. Unlike crypto currency we have our own wallet just like a bank and we can freely use our money any time that we like.

[Usafstar]

Yes it is true that the Canadian banks creates storage of the crypto currency and we know that the big investors have store a good reserve of this crypto. All the other banks also storing crypto But they are not saying this to the public now the bitcoin price is rising and it is good to buy the bitcoin currency i would love to make a strategy for the altcoin and bitcoin if we have all this then we can become the rich in the future in the crypto currency.

[SuperD007]

Hmmm

Personally, even if I had a sh*t ton of BTC worth a fortune. I wouldn't use a service like this... but off course each to their own.

I think the service would apply to people who have heavily invested in crypto but have not actually taken to the time to understand how it all works and also people who are purely in it for the money and don't really care much about create social change on a global level.

My personal opinion is that we should be using crypto to destabilize and emancipate ourselves from the global banking system. When you understand how the banking system actually works then you come to realize what a colossal scam it is.

Emancipate yourself from banking slavery!

[LegGekkouga]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

I think this is a positive news because this ambank is showing that crypto can be reliable and can be used because unlike other people say bitcoin is NOT a scam.

[Patatas]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

This is NOT a positive news.This is what I fear the most happening to the Crypto-World.Worst part is,dumb-fucks are going to fall for it.Bunch of average minded pricks.

And exactly how is this a positive news? This is just a bank doing bank things, trying to deceive people into thinking they are necessary by offering a service no owner of cryptocurrency has any need for. We are our own bank, that is the spirit of bitcoin and until people embrace it the bitcoin revolution is not going to be complete, why are you going to give your coins to someone else? So they can pull more frauds on us, no thank you.

You're correct my friend,we need 'moar' people like you.

it is a positive news in a sense that it shows they are bitcoin friendly and they are on the way to adopt bitcoin and possibly other cryptocurrencies too.

No No just no! Bitcoin and Banks if ever are mentioned in the same sentence,assume that it isn't a good news.

[maman09]

More positive crypto news from VersaBank Inc, who announced the intention to make digital storage for cryptocurrencies by June 2018 for worldwide customers: The Canadian Bank Creates a Storage for Cryptocurrency.

And exactly how is this a positive news? This is just a bank doing bank things, trying to deceive people into thinking they are necessary by offering a service no owner of cryptocurrency has any need for. We are our own bank, that is the spirit of bitcoin and until people embrace it the bitcoin revolution is not going to be complete, why are you going to give your coins to someone else? So they can pull more frauds on us, no thank you.

I think what you say is true. yes i fully agree
we are own bank and do not require bank deposit. this is the basis of crypto, transact without any third party.

[Ozero]

I do not quite understand why such a bank is needed at all and how it will work. It will be backup copies of the necessary data, passwords, keys, etc., or what? Is it worth it to trust someone else, even if this other seems to be not accessing your data. We know that nothing is impossible, if someone asks to gain access to certain information. In addition, according to the decision of the judiciary, I think banks should provide such information to state authorities, and this is dangerous. It is better to store this information yourself.

[Kakmakr]

What part of a centralized, government controlled entity, storing people's bitcoins is good news to you? What do you think, can go wrong in a scenario like this? The questions will always be :

1. What information are they sharing with the government.
2. Can they lock you out of their system?
3. Will they always support this or will they change their mind later?
4. How secure is centralized services? <A lot of Banks have been hacked before>

These are just some of the questioins that you need to ask, before you use these services.

[franky1]

all they are offering is a encrypted webspace to store private keys

but if you have your private key wrote down on paper, you dont need the service.

some will say its to protect you incase you lose the paper.. my reply is but where are you going to store the password to access the banks webspace, oh yea paper... same risk

as for the risks of typing the private key into a browser, there are risks of people having viruses(keyboard loggers, browser extension trojans) so its much safer to have a paper wallet than some online storage that some hacker can snoop on via your keyboard taps.

after all jennifer lawrences nudes were real safe in apples cloud(sarcasm) which even the FBI couldnt hack.. wait, i remember seeing her pics.....hmm.

but oh well, with thousands of people thinking that putting funds into a co-signed address with a second party(LN) is bitcoins way forward. i guess you might aswell put your private keys online. afterall, versabank promise they are only asking to hold your private key and not co-sign your funds or blackmail the funds by denying a co-sign

[warningsigns]

I would consider it a positive step if they were to allow full banking services linked to stored bitcoin assets. By that I mean fully functioning Visa and MasterCard debit cards, interbank fiat transfers debited from the real time market value of stored bitcoins, ATM and teller-assisted fiat withdrawals from bitcoin accounts... things like that might change the banking landscape for the better.

As it stands now, the access cards industry (Visa and MasterCard notably) are stubbornly clamping down on anything linking their brands to digital currencies, mainly on compliance grounds. This uncertainty is unhealthy for the crypto consumer. The clampdown is effective because these card brands are dominant players in the payment processing industry. Even if a competitor brand were to be introduced, survival will be challenging. That’s because ATMs and merchants recognize established brands only. Introducing a new card brand like BitCard for example will require a major overhaul of acquirer banking systems and I’m very sure Visa and MasterCard will fight it tooth and nail. They already lost and continue to lose heavily to the global expansion of China’s UnionPay.

https://www.pymnts.com/news/payment-methods/2017/chinas-unionpay-leads-in-global-card-market-over-mastercard-and-visa/

[franky1]

I would consider it a positive step if they were to allow full banking services linked to stored bitcoin assets. By that I mean fully functioning Visa and MasterCard debit cards, interbank fiat transfers debited from the real time market value of stored bitcoins, ATM and teller-assisted fiat withdrawals from bitcoin accounts... things like that might change the banking landscape for the better.

As it stands now, the access cards industry (Visa and MasterCard notably) are stubbornly clamping down on anything linking their brands to digital currencies, mainly on compliance grounds. This uncertainty is unhealthy for the crypto consumer. The clampdown is effective because these card brands are dominant players in the payment processing industry. Even if a competitor brand were to be introduced, survival will be challenging. That’s because ATMs and merchants recognize established brands only. Introducing a new card brand like BitCard for example will require a major overhaul of acquirer banking systems and I’m very sure Visa and MasterCard will fight it tooth and nail. They already lost and continue to lose heavily to the global expansion of China’s UnionPay.

visa/mastercard hate their CREDITCARD customers using it for bitcoin, because the majority of them do the chargeback scam to get free bitcoin.
also by thinking that banks should offer a service to manage accounts defeats the whole purpose of bitcoin.
but goodluck if you really think that banking rules are good for bitcoin. im guessing your ideology is not economic freedom but 'look ma its legit, buy some to push the price up. so i can sell back to fiat and live a richer fiat life'

[eance]

This is misleading. This is not really a Canadian bank. It’s just a company using this weird name.. lol