Will banks ever offer bitcoin deposits?

[Giftedcrypt]

From my opinion I know a time will come when bitcoin through blockchain can deposited in the bank..i strongly believe that.. There is more to blockchain than that which meets the eyes..

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[BitHodler]

Better hold your bitcoin and make it grow by yourself.

People don't want to be responsible for that. It's not for nothing that they prefer to use online wallet platforms. Soon every platform will offer people to 'securely' store their funds offline like what Xapo is doing.

It has become so popular, that Xapo holds $10 billion in Bitcoin in its vault. It's mind boggling that one service holds that many client funds, and that while it was heavily losing market share in its own core business activity.

I will never ever allow any central party to hold any of my coins. It just feels wrong and I wouldn't be able to sleep well thinking about all possible scenarios of what could potentially happen in case of a hack or inside theft.

[arguelles84]

In general, the idea of deposits in bitcoins looks interesting enough for the participants of the Japanese and world market to meet her with open arms. Nevertheless, some experts have expressed doubts about the operation of mechanisms for accumulating interest. Indeed, bitcoin is different from fiat money, hence, it needs other mechanisms.

[ngano ba]

That idea might came through someday that banks all over the world would accept bitcoin deposits according to the banks term and conditions, this might possibly happen in the future because some banks now accepts payments and transactions using bitcoin and other altcoins , this would come to reality.

[fritzbird]

Maybe when certain things in the market reaches a certain distinction
that crypto will come to be recognised and for banks to become interested
in. But with the rise and ever increasing popularity of Bitcoins, I believe
bitcoins will be the one or one of the primary currencies Banks will be able
to deposit in the near future. But then again it’s ambiguous volatile nature
will always be an issue, regulation might pave a way for banks and bitcoins
to coincide and allow future crypto bank deposits. We’ll just have to wait, hold
and see until things develop to Bitcoin’s advantage on this one.

[Lpim01]

That idea might came through someday that banks all over the world would accept bitcoin deposits according to the banks term and conditions, this might possibly happen in the future because some banks now accepts payments and transactions using bitcoin and other altcoins , this would come to reality.

Of course, they don't want to be behind from new development. Taking advantage for these might be their plan for the betterness of their services to the clients.  If they never accept this, it could possibly that their income will decrease.

[vnck25]

There are some projects that are trying to create cryptocurrency banks where the transactions/services are done in cryptocurrencies and with the help of blockchain technology. I think even before that traditional banks and other financial services will embrace these technologies and will provide investment instruments based on cryptocurrencies in general, not only bitcoins. This is inevitable!

[elygil2022]

I hope they do on the soonest possible time. That would be the day bitcoin becomes mainstream. Bank employees would be trained to handle cryptocurrency transactions to non-techie people in a manner they would understand.

[bxipp]

I hope they do on the soonest possible time. That would be the day bitcoin becomes mainstream. Bank employees would be trained to handle cryptocurrency transactions to non-techie people in a manner they would understand.

Easy to say.. Bank will not accepted bitcoin because it was a very high risk investment. Bank are hold peoples money. What will happen if bitcoin drop to the ground. Very sure bank will bankrup.

[a_t_e_e_b]

it might be possible in future when bitcoin and altcoins become properly accepted all over the then banks may accept coins as a deposit

[gabmen]

I hope they do on the soonest possible time. That would be the day bitcoin becomes mainstream. Bank employees would be trained to handle cryptocurrency transactions to non-techie people in a manner they would understand.

Easy to say.. Bank will not accepted bitcoin because it was a very high risk investment. Bank are hold peoples money. What will happen if bitcoin drop to the ground. Very sure bank will bankrup.

Right. You can hope they do but they won't. Cryptocurrencies are a threat to bankers and the banking industry. Notice how some banks disallow even debit card transactions when it's for crypto? They'll make sure they keep holding your money.

[mikki14]

For me, bitcoin holders don't need banks at all. It's like finally having a decentralized money system and wanting to go back to a centralized one. I think bank is for fiat and our cryptocurrency should be under our protection. And if ever they will offer something like that, for sure it won't be that eeasy to withdraw all your money. Banks have been unfair for a long time. It's like giving them another opportunity to earn from our hardworks.

[ambisyon]

In my humble opinion, I think banks for now will not open bitcoin deposits since they haven't yet adopted how to handle deposits using a digital currency. However, in the near future since cryptocurrencies are becoming more popular nowadays, then banks should developed a way to address this kind of option to serve the people in handling their bitcoin deposits.

[Dudeperfect]

To be honest, considering the price volatility I don't think that banks will take such kind of risk anywhere in near future unless it is legalised in the eyes of law. Bitcoin is a part of the highly volatile market and even 1% price fluctuation might affect the whole cash flow of banks so I don't think banks are going to accept Bitcoin as of now. On the other hand, banks are trying to implement blockchain technology in order to optimise their traditional infrastructure, so they might come up with their own coin but again it will depend on the legal status of cryptocurrencies.

[crisnel26]

this will only be possible if we restructure the banking system or the bitcoins infrastructure. bitcoins is supposed to be anonymous and this will be a huge challenge for any bank because by the nature of their setup banks will need to know who is transferring or doing a particular transaction and what we refer to as KYC (know your customer) information. The privacy is what attracts a number of individuals who need this anonymous status and so even if banks were to eventually offer deposits we would need to furnish them with information thereby destroying the bitcoin one address to another without having to endure any question and answer session, so if this were to become possible then eighter side would have to make drastic changes which would remake/change the face of their institution.

Eventually, I think that Bitcoin will be allowed by banks for deposit transactions. Bank owners are smart enough to know that they might lose if they compete against a system that is being known worldwide. Somehow, they will find a method in order to make the banks and cryptocurrencies become a part of each other.

[Ankhesenamun]

Perhaps such a scenario takes place, but very soon. First, the government should accept bitcoin as a currency, and then we can talk about the interest of banks in it.

[jpespa]

Because of high volatility of bitcoin I don't think that it will be good for banks. Imagine you have invested 1BTC = $8000 in bank and before the end of the year the price of bitcoin dramatically decreased to $6500, it may not look good for you since you are expecting an interest equivalent to the value at the time you have deposited you bitcoin.

[DAVETUN]

As the space is evolving sure there is a high possibility of this, but more importantly is to have cryptocurrency bank, where Bitcoin  will be available as a means of transaction, against altcoin and fiat. The world has no choice than to embrace the change of the moment,digital currency is the way to go.

[Xising]

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

I don't think so mate. Actually, based on what I read, recently, there are so many banks that are already accepting cryptocurrency transactions, if not, are already starting to venture in the market to test it out for future changes to be implemented geared to actually include cryptocurrency-based business in their current system. I say that because I know that banks are business entities, therefore, it would be more common for them to arrive at a point where they would embrace this market rather than closed their doors to it.

[bitctrimor1]

We all know how risky bitcoin is. Let's imagine the most riskiest money deposit situation.
What do you think guys, will this moment ever come and banks decide to offer us Bitcoin deposits (e.g. fixed profit on 1 year deposit and etc).
This can be very, very profitable for banks if they make correct decisions.
P.S I don't mean freebitco.in's offer of holds on their wallet. I mean if official banks ever offer us this service.

For me, they will, but I qualify it by saying that it may take a long time. Banks are very cautious with the investments or business they invest in or follow through. Therefore, since this market is just too volatile and too unpredictable, I don't think banks would even consider it right now because the money that they actually use is not their own money, but the money of their investors and depositors. So, if thye would jeopardize the money of their customers, it would not help their business nor their image.