Do you think there should be a Crypto Bank?

[Kallisteiros]

At the very least, what I believe at is for the whole creyptocurrency market to have a one whole regulating body that will screen or completely remove illegal schemes and scams in the market.

Right, and let's call this regulating body the government. Are you kidding me? This is against all principles on which Bitcoin was built, which is to take power from financial institutions and governments and give it to ordinary citizens. You people are scared of a few scams and you run back to government daddy already, asking to regulate the hell out of everything crypto.

This is an open permissionless system. If you need to give someone the power to censor and roll back things, use fiat and banking system. Or EOS.

The key to eliminating scams is to get the whole community more educated and develop more security features, not centralizing the power in someone's hands.

[berezov_petro]

What do you think about crypto bank which hold all the reserves and give insurance of your crypto assets?

It would be nice when our crypto money was insured. But it seems to me that the crypto market is a decentralized system, so I definitely can not argue that such an idea will be popular in the crypto world.

[Grim149x]

I believe it's better than the traditional banks because of the transparency. And transparency is what gives it an edge and unfair advantage over the old ways.

[mrkimvanan1]

What do you think about crypto bank which hold all the reserves and give insurance of your crypto assets?

I also appreciate your comments. Bank holding crypto is 1 idea but to implement it is an extremely difficult thing there are so many new projects built on that idea, but I have yet to see any project feasible

[mrkimvanan1]

Centralized exchanges already behave like "crypto banks". Still they can't give you a guarantee that your funds are completely safu and won't be stolen via trojan getting your password from the exchange, exchange operators going dark and stealing your money, or hackers breaching the security of the exchange.

I agree with you. There are too many virus, trojan or many other problems to hack their own property

[Hatuferu]

What do you think about crypto bank which hold all the reserves and give insurance of your crypto assets?

It would be nice when our crypto money was insured. But it seems to me that the crypto market is a decentralized system, so I definitely can not argue that such an idea will be popular in the crypto world.

I think it would only be a waste of time and effort because we have our own bank already and that is our very own trusted wallet.We can be more secured of our own assets knowing we have the full control on it,and not just trusting it to any bank.And if we will adopt this idea,cryptos will lost its nature as a decentralized one knowing banks are only for centralized currencies.

[havoc1945]

Website    : https://mycryptobank.io
Twitter    : https://twitter.com/MyCryptoBank/
Facebook   : https://web.facebook.com/Mycryptobank
Whitepaper : https://mycryptobank.io/docs/MyCryptoBank-white-paper.pdf
Telegram   : https://t.me/MyCryptoBank
Reddit     : https://www.reddit.com/user/MyCryptoBank
Linkedin   : https://www.instagram.com/mycryptobank/
Medium     : https://medium.com/@news_87035
Youtube    : https://www.youtube.com/channel/UCEWn4UUSAX1xLQHKXkaBbuQ
ANN Thread : https://bitcointalk.org/index.php?topic=4484862
Bounty     : https://bitcointalk.org/index.php?topic=4662733.0

MyCryptoBank offers its clients a multifunctional platform of banking service, which
represents a hybrid system combining digital and traditional currencies. The use of digital
currencies makes operations faster and cheaper, while traditional currencies guarantee
practically all-round acceptance and validity. One account combination allows
clients simultaneously using advantages of both types of currencies.
The number of companies offering its services online increases while implementing IT-technologies
in daily life in the whole world. Finances, education, health, trade and entertainment
become actively digital in order to satisfy requirements of available clients and attract new ones.
MyCryptoBank will become a fully digital bank, accessible all over the world and at any moment.
It will make all functions of a typical bank but without any bank departments and front-offices
maximum relying on new digital technologies. This will allow MyCryptoBank to become one
of the most inexpensive banks in the world with very profitable level of cost-to-profit ratio.
In modern world states are divided into 2 camps: supporting cryptocurrencies and those institutions
trying to prohibit it due to threat to economy. And even in those cases, which are loyal
to cryptocurrencies, for example Estonia where the license permitting to work with cryptocurrencies
can be received, banks block client accounts, who anyway are related to cryptocurrencies.
And such a problem exists in many countries (Finnish Crypto Exchange Risks Collapse As Banks
Refuse To Do Business, Bank rejects Your Crypto Business? Go to Court, Dutch banks refuse
accounts for cryptocurrency businesses, Two Major Indian Crypto Exchanges Shuttered, Court
Orders Chilean Banks to Re-Open Crypto Exchange Accounts). Banks sabotage the process of its
implementation in everyday life, strongly disturbing the openings of such accounts for companies,
performing ICO, and also may block the account of such company at any moment. This creates
a big problem for the cryptocommunity, which would like to buy and sell cryptocurrencies,
accept and send funds in fiat money (money of different countries USD, EUR, RUB etc.) for token
purchase when performing ICO and further free transfer money all over the world without fear
of account blocking.
Multifunctional platform
of banking service
use BOTH currencies
in ONE account
All-round acceptance
Faster operations
Validity
Cheaper operations
5
MyCryptoBank is intended to solve this problem. It will become the first bank for cryptocommunity,
allowing clients to receive and send funds in cryptocurrencies and fiat money and also
exchange between cryptocurrencies and fiat money inside the bank. With MyCryptoBank it will
be possible to create deposits, receive loans and credits. The bank will create an infrastructure
which will allow setting acquiring and merchants for goods payment for companies and online
services. Clients will be able to receive bank cards and with the help of it they will take available
funds through any ATM in the world and also pay in shops, restaurants etc. For client convenience,
the bank plans to install ATM and crypto ATM, assisting in making operations on cryptocurrency
purchase and cash receipt with minimum fees. In the usual sense, it will be typical
bank with the whole range of services but loyal to cryptocurrencies and cryptocommunity. It will
give an undeniable advantage over other financial institutions, attract many clients and their
funds for creation of bank’s positive liquidity and allow supporting and developing all products
of MyCryptoBank.

[krassy]

Any Bank means an intermediary between you and your finances, they will take a commission for the security of your funds, but today there is no invulnerable product, so the crypto bank will be exposed to hacker attacks and other network vulnerabilities. The idea of a crypto Bank is useless now.

[auroboros]

A very interesting discussion about bank crypto, I also think like that, now a lot of projects with the aim as a bank crypto, but I think until now there is nothing good for it. Because it is very important especially for us the crypto trader, hopefully in the future there will be a really good bank crypto

[Mendozaa]

I think this is a bad idea, since the bank will have a huge number of tokens, hence the prices for them will be controlled than the bank

[Fedoracoins]

I think it's a very bad idea. One of the reasons I love cryptocurrency is decentralization. If there is a Bank means there will be no decentralization. I believe that cryptocurrency does not need any banks. I generally believe that in the near future cryptocurrency destroy banks. I hope it will happen very soon.

[paulscathedral]

Why not? We need to find a suitable offshore zone and establish some links with certain authorities. I hope that soon we will see a full-fledged crypto Bank, and we will be able to use its services. This would be a very significant step towards the integration of cryptocurrency into the real sector.

[pidobir]

It will be very convenient to take a crypto credit. To be honest, I do not know how to make a crypto Bank.

[Autocarnet]

I think it's a bad idea because the cryptocurrency is anonymous and you have to register with the Bank.

[Fulmand]

What do you think about crypto bank which hold all the reserves and give insurance of your crypto assets?

Not at all, decentralized environment is the key features why cryptocurrency is taking a great invasion in the economy and with the crypto bank I think we don't need it anymore for a safekeeping, there are many options to keep your coin intact, your choice is your responsibility.

[Last follen star]

I think the crypt does not need banks, except in exchange for fiat. Banks do not need a block, it's harder and slows down the work, in addition, the blockchain is needed only when you do not trust each other, but in this case there will be a bank and there is no sense in the blockchain.

[mostkey]

Well, there is some crypto bank projects but still didn't get enough attention.

I am unsure about crypto bank because one of the most important part of crypto = eliminating banks. So why create new ones?

Crypto is not to eliminate banks but people who will be more comfortable where to use as needed and comfort, crypto banks would be very good if indeed its usefulness is very good for the future in accordance with the wishes of people but I am sure it will not be as beautiful as the creators desires , not too bad for the innovation they create but it is not true to make it all, because we can defend it ourselves without having to have a third party, the smarter will choose the best, I really like it bit by bit will turn it off subtly.

[CoinCollect]

I think some exchanges are like cryptobank. It seems to me that if you create cryptobank, then cryptocurrencies will go from his idea. Remember how everyone shouted that Ripple is a centralized coin, and therefore it is bad and what happens if you create cryptobank. Although there are similar projects.

[waser12]

Insurance of crypto assets is a very important thing which is difficult to provide. I think that exchanges and crypto wallets should think about without third parties as crypto bank.

[mimienamphine]

Crypto bank is what the industry is waiting for. If we get a cryptocurrency bank,we will be able to spend cryptocurrency directly without changing it to fiat money and this will help mass adoption and regulate the high volatility of the cryptocurrency market.