Does the bank glad to support cryptocurrency trade?

[sinkfish]

they are not glad. but they will adopting the technology to stay relevant.   

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[Fuhre]

in 2017 bitcoin recorded a record that became a hot potato around the world, so its phenomenal bitcoin until the banks and the government intervened. we all know that banks will never support bitcoin, because bitcoin offers such an easy system. a strong reason why governments and banks ban bitcoin, because they claim that bitcoin is not a valid means of exchange or means of payment to use. so, in my opinion until whenever the bank will never support virtual / digital currency like bitcoin. in fact there are still many reasons for this ban.

but i guess in future if we leave banks no choice maybe they will consider accepting to support cryptocurrency,we all know how crypto affecting them more depositors are going and transferring their funds inside crypto because of volatility and the privacy together with the freely feeling of having a full access and manage for your own money

could be, sir! Make sense also the statement you mean just now, sir! hopefully in the future, cryptocurrency Have got a chance to get / get Get along with bank and the government also approved it. I think, if such circumstances are likely, cryptocurrency (bitcoin) will be a great opportunity to become a global currency. we just need to believe in every cryptocurrency movement for now.

[darewaller]

in 2017 bitcoin recorded a record that became a hot potato around the world, so its phenomenal bitcoin until the banks and the government intervened. we all know that banks will never support bitcoin, because bitcoin offers such an easy system. a strong reason why governments and banks ban bitcoin, because they claim that bitcoin is not a valid means of exchange or means of payment to use. so, in my opinion until whenever the bank will never support virtual / digital currency like bitcoin. in fact there are still many reasons for this ban.

but i guess in future if we leave banks no choice maybe they will consider accepting to support cryptocurrency,we all know how crypto affecting them more depositors are going and transferring their funds inside crypto because of volatility and the privacy together with the freely feeling of having a full access and manage for your own money

could be, sir! Make sense also the statement you mean just now, sir! hopefully in the future, cryptocurrency Have got a chance to get / get Get along with bank and the government also approved it. I think, if such circumstances are likely, cryptocurrency (bitcoin) will be a great opportunity to become a global currency. we just need to believe in every cryptocurrency movement for now.

But definitely not in near future because banks and government just need to understand the advantages of using a crypto currency only after that we can expect them to adopt/support cryptocurrency trade. But I'm afraid they will not be ready to adopt crypto currency in any near future as of now because they are very much firm on continuing with fiats due to taxation kind of things.

Only after there would be a system which will be focusing no loss of taxation compared to the current system, we can expect government to come forward to adopt crypto-currency so that banks will start supporting crypto currency trade.

[denbagoes]

If they investigate more about what advantages there are in the crypto then surely they can agree on. This may be subject to their respective policies in the country.

[warrior333]

If they investigate more about what advantages there are in the crypto then surely they can agree on. This may be subject to their respective policies in the country.

Banks can not independently decide on the use of cryptocurrencies. Laws are binding on everyone. But banks have influence on many politicians, and so they can always lobby for their interests. It is not profitable for banks to support their competitors. Bankers can comply with the requirements of the law but voluntarily they will never recognize cryptocurrencies.

[whirlcoin]

The banks never support any kind of things related to the cryotocurrency field because crypto currency was found mainly to kill the third oart transaction which menas banks.But they can't do anything if we do the cryotocurrency trades in small amount because they have no clue that whr is that amount from but if we do it in bigger term they can freeze oit bank account for large flowing of money.

[Ewox]

I think the obvious reason would be is that the cryptocurrencies can’t be controlled. And I don’t think the bank will support the cryptocurrency trading because it is not regulated. They can’t track the records of transactions using the blockchain technology because of its anonymity; and you know how banks works they need information such as tax records and transactions too.

[Ridwan Fauzi]

In economy world there is no word 'glad or not glad' everything use strategy, politic and a chance. For me cryptocurrency (who have base on blockchain) and bank is an contradictory place. Bank will refuse cryptocurrency came, but human as a consumer will need cryptocurrency for make easy life.

But in fact we the user of cryptocurrency still need a bank now. Some country who ban cryptocurrency will need a bank for exchange coin to money physic. We can't enjoy our money without bank for now, it will be good if cryptocurrency and bank will be together for help us, and us will help bank and cryptocurrency exist.

[DonTsTop]

So many Banks for now are still not in supportive of Bitcoin because of its Deregulation purpose which devoid them the opportunity of interest Discounting on transactions, and basically because of its Decentralization simultaneously. However, Exchangers that are avoiding Wire transfer of various forms may have their different reasons for doing so. Probably because of unsafe Record keeping and many more. But the fact remains that few of them are still operating at that level.

[TUSHAR@1908]

Banks will never support cryptocurrency as it will directly affect the market capitalization of the Banks leading to decrease in their profits. Because of this reasons, only the Government are supporting the banks and banning Cryptocurrency as Banks are the most powerful economic generator of any Country.

[S4roZa]

Not all banks are happy and supportive with the existence of digital money / crypto money, for example in certain countries only banks support crypto money most countries forbid it when most people use the crypto money.

[lionheart89]

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

yes many banks are not happy with cryptocurrency because cryptocurrency gives no benefit to the bank, cryptocurrency can not be controlled. cryptocurrency is decentralized so it is impossible for the bank to support it.

[naidray]

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

You’re confusing some people, according to your headline the question was if the bank will gladly support Bitcoin, now you’re asking why many exchanges does not support wire transfer (if not all).

Well, when it comes to bank supporting cryptocurrency, I don’t really know if that is possible in anyway cause they both have difference. Bitcoin is just an asset and it’s not something that is being held in bank, you can only get it from the right source – Blockchain. So bank can’t support Bitcoin, but they can support exchangers that are into Bitcoin, cause every money you use to buy Bitcoin is being sent to the exchangers bank account.

For the next question on why most exchanges does not accept wire transfers, well, why would they accept wire transfer anyway? This is a business that has to do with online and you will have to do withdraw to the right source first, which is your wallet, before talking about taking it to banks.

[Ewinsane]

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

You’re confusing some people, according to your headline the question was if the bank will gladly support Bitcoin, now you’re asking why many exchanges does not support wire transfer (if not all).

Well, when it comes to bank supporting cryptocurrency, I don’t really know if that is possible in anyway cause they both have difference. Bitcoin is just an asset and it’s not something that is being held in bank, you can only get it from the right source – Blockchain. So bank can’t support Bitcoin, but they can support exchangers that are into Bitcoin, cause every money you use to buy Bitcoin is being sent to the exchangers bank account.

For the next question on why most exchanges does not accept wire transfers, well, why would they accept wire transfer anyway? This is a business that has to do with online and you will have to do withdraw to the right source first, which is your wallet, before talking about taking it to banks.

I really love the way you are explaining the things. But you helped me to understand the humiliating situation how banks or governments are facing. Still I expect governments to start thinking about adopting bitcoin for their people's day today life. I do believe in less than ten years we can see many countries will be adopting bitcoins as their official payment system.

[Anakcikal]

if I do not think all banks support cryptocurrency because for them cryptocurrency is a threat because they are not everyone believes anymore and in the digital world, the ambition of bitcoin and other cyrptocurrency to become the single currency in the world is brilliant: make the transaction process very easy, super efficient, and can negate the transaction costs that are often imposed by conventional banks.

[Jonsnowstark]

I dont think so. Banks are centralized. They hate cryptocurrency because it is decentralized. It cannot be controlled. They're against bitcoin and say that bitcoin is used for illegal activities because they think bitcoin is taking away the business that is helping them grow. As you can see with wire transfer, banks makes money out of every transaction and it usually takes to long to be confirmed. With cryptocurrency, its automatic. You dont have to wait long lines to transfer money oversease. That's why banks will never support cryptocurrency.

[Falmera]

As we know, not many exchanges will support the international wire transfer, what is the mainly reason in it?

I think banks will fear crypto currency. It is because if crypto will be used by many, it might make them close because there will be lesser people to invest in their bank. It is more secure and safe than their system. And also their transactions might take a longer time than that of crypto currency.

[Hendralam18]

Happy or not, The Bank must adopt cryptocurrency exchange or they will be left behind, the technology never wait us to changes, if the bank adopt cryptocurrency they will get the fees from exchange Bitcoin or any alternate cryptocurrency. This the new finance technology, for all human kind, for our freedom, for our prosperity.

[waqasniaz007]

The Zurich-based bank already offers crypto-asset management solutions which allow the purchase, trade, and holding of Bitcoin.

[richardsNY]

The Zurich-based bank already offers crypto-asset management solutions which allow the purchase, trade, and holding of Bitcoin.

Which bank exactly? I can't believe that financial institutions do that, so it has to be through a lower but seperate division of the bank. Goldman Sachs did so too for their clients, and various other major banks as well, so it's nothing really new. The regulatory framework doesn't yet allow them to get involved in crypto directly, so these 'proxies' are the only alternative for them. I don't know how long it will take before this becomes reality, but governments aren't that motivated to allow financial institutions to enter this market that easily, even not in a well develop country as Japan, and everyone by now knows their status in crypto terms.