German online bank uses Bitcoins to transfer loans

[darkangel11]

“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"

This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower 
"-don't switch guys we are improving, give us a chance"

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[taxmanmt5]

“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"

This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower 
"-don't switch guys we are improving, give us a chance"

Great news first i thought using bitcoin in German is illegal but after haring the news i think its not that illegal. Banks are using bitcoin to transfer loans which is great contribute for bitcoins.

[kryptqnick]

Many bitcoin loan based start ups had difficulties with lack of support in terms of collateral, background checks, creditchex and similar systems utilized by banks to streamline the loan process and make them more reliable. Looks like this small german bank has stepped in to fill the vacuum and it appears to be enjoying success.

Hopefully this will be an indication of future progress with crypto based loans and we'll see other start ups embrace this trend by offering greater support for this.
As crypto loans become more prevalent we could see better frameworks and solutions to issues which have plagued the industry in the past and so perhaps this is a sign progress will be made.

Another way to use crypto property of cheap and fast transactions without really adopting them. This story reminds me a lot of the one about IBM tranferring money between countries pretty much the same way with fiat being converted into btc, sent to destination point and then converted back into fiat. It's better than nothing, of course, but cryptos shpuld not be merely mediators. At the same time, though, I would've never took a loan in the amount fixed in a specific top cryptocurrency. They are extremely volatile and it might lead to one owing a catastrophic amount of money. I wonder why they're not adopting usdt, though. It could allow both fast transactions and a fairly stable price. Is it because of the lack of trust that every tether is actually backed up by one dollar?

[mostcrack]

I have heard some good news about bitcoin, and this is one of them. I always hope that this good news has true facts without hoaxes. because now many companies and big countries are starting to receive bitcoin, hopefully with the spread of a lot of positive news it can make prices recover again, and even increase from the expected.

[ronics]

Albrecht has established an online bank that allows clients to transfer loans worldwide with an excellent Bitcoin. this time we will have more cryptocurrency like a Bitcoin at a very low cost and that's a good idea for all the lenders. with the move to lend money worldwide with urgent process and at low prices on the amount to be paid. Great news

[Bitfling]

German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future

[sheenshane]

German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future

Well, that is a great news to the bitcoin or the entire cryptocurrency. I never thought that Germany adopts technology for having a service loan using bitcoin, I think that is a good decision since using blockchain technology is a great advantage when having fast and reliable transactions. Easy to have any clients worldwide using bitcoin but a little doubt on my mind how they process the collateral to their clients in the online system service loan. Indeed, this is a great news to us probably bitcoin will go up the high price.

[el kaka22]

They must have started recently, back in December it was so expensive and took so long that I think they would have rather used whatever the old method was . I believe we need to improve bitcoin insanely, the blockchain of bitcoin is slow and can't take the load and fame bitcoin is getting.

Right now at this day it looks fine but when those December people finally come back and the transaction count increases by tenfold like it did during December the blockchain couldn't handle all of that and got jammed which caused all kinds of problems for everyone. I think we should improve the blockchain at once before the word about normal day usage of bitcoin gets out so we can actually support that claim.

[andika2018]

Germany is advance country in world and always adapting on technology. If banking start using cryptocurrency, i am believe banks can save a lot cost and make their bussiness more eficient. Transfer or make transaction using cryptocurrency much cheaper than banks always use and i am believe banks will adapting cryptocurrency for their bussiness

[Iwillgotothemoon]

This is a very good news, but it also exposed the crisis of the original economic system. Perhaps the financial crisis is now preparing to sweep the world again. This is advantageous for cryptocurrencies.

[Helpme_please]

German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future

i think this good news for germain bitcoin community.but unfortunately there is no effect to bitcoin price today.or maybe investors still worry if ETF rejected , so they postponed their investment.

[wahyu wida]

German already approve bitcoin as payment and i think its not surprise when germany banks start using bitcoin for their purpose. Bitcoin mass adoption will be wide spread when others country following germany step and it will happen in near future

i think this good news for germain bitcoin community.but unfortunately there is no effect to bitcoin price today.or maybe investors still worry if ETF rejected , so they postponed their investment.

maybe the effect is not immediately visible, but with the good news gradually German people will use bitcoin. more and more people need it then they can see later the development. especially if followed by other countries, of course results will be more visible

[jjohnathn]

“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"

This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower 
"-don't switch guys we are improving, give us a chance"

More people use it more the it effects the market people now days are moving to bitcoin which increasing its potential. Good for bitcoin.

[BigBos]

well, if this is true, then Germany also recognizes the benefits of bitcoin, and blockchain technology. well, I just hope other countries also do that, so that they can support this development.

[boyz97]

well, if this is true, then Germany also recognizes the benefits of bitcoin, and blockchain technology. well, I just hope other countries also do that, so that they can support this development.

maybe no longer again, other country would follow germain policy.and when it happen we will see bitcoin could be implemented as general payment system.

[centimentalking]

“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,"

This is the main reason why BTC is much better and will eventually take over the current banking system. There's a reason why banks are researching blockchain right now. They're looking for a way to integrate it into their outdated systems to improve them. To have something to show when their clients become familiar with cryptos and start comparing pros and cons. They will then at least be able to say that their system isn't 100% slower and more expensive than BTC, it's only 10% slower 
"-don't switch guys we are improving, give us a chance"

Germans banks are accepting bitcoins now soon world wide banks will move to bitcoin too and use it for their daily basis.Bitcoin has a bright future and we have to accept it.

[rickadone]

Germany is advance country in world and always adapting on technology. If banking start using cryptocurrency, i am believe banks can save a lot cost and make their bussiness more eficient. Transfer or make transaction using cryptocurrency much cheaper than banks always use and i am believe banks will adapting cryptocurrency for their bussiness

Well, that simply shows the level at which banks will definitely be able to find a way to evolve alongside the use of cryptocurrencies as they tend to understand the value it brings over time as well as the comfort.

Adapting to technology does not usually come all of a sudden, as it would take certain steps and gradual practices to do it right and it is a good thing to see German online banks coming up with stuffs like this and with this kind of news, it shows that over time, real life usage in terms of application of cryptocurrencies will increase.

[upsidedown75]

Germany is advance country in world and always adapting on technology. If banking start using cryptocurrency, i am believe banks can save a lot cost and make their bussiness more eficient. Transfer or make transaction using cryptocurrency much cheaper than banks always use and i am believe banks will adapting cryptocurrency for their bussiness

Oh! That is actually not something new since we all know how the normal system has gone rubble over the years. This obviously shows one thing, one way or the other, governments will have no choice than to realize that cryptocurrency is going to end up saving the day.

This may be applicable to online banks in German only now, but it is definitely a very good start for the future and development of the crypto space as well as its usage for the value it brings and not just for speculative purposes.

[carlisle1]

This is awesome, if the major countries will go on for the cryptocurrencies, I think that smaller countries will follow their examples fast!

That's indeed great news, Germany has been pro Bitcoins ever since the cryptocurrency emerged and now they are bringing in new services that will make the cryptos expand even more.

If banks are going continuously this way,then for sure sooner we will be mainstreaming and may get the majority adaption for the future generations

I have been waiting for our region to do same thing,that banks will accept bitcoin not only for loan transfer but for all transctions that involves money

[fortuner]

that is a great improvement and a future for bitcoin, I think this bank will get a lot of profits in its business, because the transaction will be more efficient