You Can Now Keep Your Bitcoins In A Bank

[FlightyPouch]

I would never agree to give my bitcoins to the bank. Bitcoin was conceived as an independent currency and in order to make people independent. And here they offer intermediaries in the form of a bank. No, thanks. But I'm a bank to myself.

That is right. We don't need other people, third parties to hold our crypto currencies, Bitcoin is a deventralized crypto currency, as most of the people say it, Bitcoin is a free currency. Instead of letting other people to manage our currencies, we should be the one doing it since we can do it by ourselves. I am not saying that we should not use the bank, I am saying that in terms of crypto currencies, we don't need a bank.

[sidkz]

the great news is still developing. We’ve got to the banks, then probably the wages will be charged in the cryptocurrency, this world recognition would have happened sooner, and legalization all over the world

[iv4n]

I would never agree to give my bitcoins to the bank. Bitcoin was conceived as an independent currency and in order to make people independent. And here they offer intermediaries in the form of a bank. No, thanks. But I'm a bank to myself.

That is right. We don't need other people, third parties to hold our crypto currencies, Bitcoin is a deventralized crypto currency, as most of the people say it, Bitcoin is a free currency. Instead of letting other people to manage our currencies, we should be the one doing it since we can do it by ourselves. I am not saying that we should not use the bank, I am saying that in terms of crypto currencies, we don't need a bank.

Amin! Why would anyone even think about holding bitcoins or some other alt in the bank when the best coins, decentralized coins have their own wallets, hardware wallets, staking wallets, its something each of us can set up at home. Bitcoin slogan was "be your own bank" in the beginning when I joined, I will stay my own bank, I like that much more.

[Dondont]

this I believe will make a lot of contra among the enthusiasts, instead of actually supporting it instead this is a progress from crypto being pulled back by the rules of the Central Bank. so entrusting our assets to them is not the best solution. And one of the worst experiences is, if you are a bag holder you have to pay monthly wages to save your own assets?

[Akoldi_ibk]

For the sake of bitcoin gaining more adoption and for the fact that banks don't want to be left behind in this current wave of bitcoin revolution, I think it is a good thing. However, it will be more appropriate if the bank is merely in for investment rather than making itself a BTC custodian because the later is not needed.

[whirlcoin]

For the sake of bitcoin gaining more adoption and for the fact that banks don't want to be left behind in this current wave of bitcoin revolution, I think it is a good thing. However, it will be more appropriate if the bank is merely in for investment rather than making itself a BTC custodian because the later is not needed.

. I think keeping our investment in online wallet will be more safer than putting your investment and your bank are connecting cryptocurrency to a bank will be not a good idea because if your wallet that we are using it will be more safer than a bank we can only access it by using the private keys that's why I am saying this

[USBitcoinServices.Com]

It's really a great news that such giants like Citi pioneers facilitating such purchases and holdings withing their bank.

However keep in mind that trusting banksters to hold your crypto for you is exactly the opposite to what bitcoin was meant to achieve.

Indeed, it is better to use traditional bank services only for a small amount of crypto, because those businesses are still centralized. The new trend will be soon decentralized exchanges like BISQ and others working hard to develop the software.

[munareal]

How different is it from you keeping it in your own wallet? Am sure there will be charges for the service rendered. Banks do not do things for free . With your own wallet, you do not need a minimum investment  and you are in control

[ipanks]

But I don't want to keep my bitcoin in a bank because I am sure the banks will take a benefit to get the tax of me and they will make a high fee for saving bitcoin in their bank. I prefer to keep my bitcoin in hardware wallet than the banks still because I know that the banks will investigate my sources to know where I got the bitcoin. Besides that, I don't use the banks for any purposes except to save the money, and withdraw the money and make some investment with the bank investment programs.

[Indai24]

But I don't want to keep my bitcoin in a bank because I am sure the banks will take a benefit to get the tax of me and they will make a high fee for saving bitcoin in their bank. I prefer to keep my bitcoin in hardware wallet than the banks still because I know that the banks will investigate my sources to know where I got the bitcoin. Besides that, I don't use the banks for any purposes except to save the money, and withdraw the money and make some investment with the bank investment programs.

Aside from that, mostly banks will put a hold on your money specially if it's coming from bitcoin because they thought that it's fraud and that it needs to undergo verification or clearing process longer than usual.

[santiPOGI]

If that's true it will become a great news to all crypto enthusiast in the entire world. But as far as I know bank was a centralized based system we all knew also that this are type of regulated business industry right? Well I think that's could be realistic due to we also have one bank here accepting crypto as mode payment if you want to open an account to their bank.

[GrayFullbuster]

Yeah it is a good thing because there are now banks who appreciates bitcoins but I do not prefer to store my bitcoin in banks because I know that storing bitcoin in my bitcoin wallet is more safe than storing in bank. We are not sure if the banks can really secured our bitcoins.

[Naida_BR]

For the sake of bitcoin gaining more adoption and for the fact that banks don't want to be left behind in this current wave of bitcoin revolution, I think it is a good thing. However, it will be more appropriate if the bank is merely in for investment rather than making itself a BTC custodian because the later is not needed.

. I think keeping our investment in online wallet will be more safer than putting your investment and your bank are connecting cryptocurrency to a bank will be not a good idea because if your wallet that we are using it will be more safer than a bank we can only access it by using the private keys that's why I am saying this

Additionally, Banks may require a KYC and this is opposite to the decentralized system we want. And we should also not ignore the fact that banks operate only 5 days a week. Cryptocurrency markets are open every day so this would be a regulation and maybe a "violation" to the free/open system that we want to build.

[Betwrong]

Only banks in some countries accept bitcoin as storage. This is good news because, with the receipt of bitcoin in the bank, the data of the bitcoin users can be known by the government so that the tax rules and others are clear.

It is not good news. What is the point of storing them in a bank? For letting them accumulate amounts of bitcoins and lend them, create debt and continue their vicious economic cycle?
We are against this system. Bitcoin gives you a decentralized option that lets you control your money in an efficient way without needing any bank or 3rd party to rely on them.

No one is forcing you personally to keep your Bitcoin in a bank, so it can't be a bad news for you because you still can keep your coins without relying on a 3rd party. But it's a very good news for crypto community overall because it will attract new adopters who otherwise would never go into crypto. Maybe with time they will understand that it's better to not rely on a bank, and then they will withdraw their coins and will keep them by themselves. But without this first step, making a bank holding BTC for you, they would never even think of acquiring crypto, because it's too foreign for them and therefore frightening.

[erikoy]

When many bank have accepted for saving money at the bank it will be more positive news and hope bitcoin price could be growing up, we need more support from all of investor and bank for accepted bitcoin and make bitcoin price will be growing up later.

Hopefully that will do but for now I do not see many of them probably promoting bitcoins because there are technical problems when it comes to storing bitcoin offline or online? As we all know that the crypto exchange were still vulnerable with hi jacking attacks like for example the ETC attack to which almost 200,000 USD of ETC was taken out by the hackers. Probably this is the struggle now for the banks in keeping crypto.

[marcelocoin]

if the bank has FGC, a fund that guarantees the loss of capital and fair, but the banks supporting the bitcoin and a rare thing to look at!

[JRoa]

Many more banks are now becoming interested to blockchain technology because of its characteristics. As you said there is now a bank that can keep our bitcoins. We can say that there are improvements in that situation because banks are now starting to adopt it.

[goaldigger]

This is a good start for a bank and cryptocurrency partnership. Why do you need to choose one between banks and crypto if they can function together?. They are on the same financial boat also and can bring progress to the economy if they work together. Nice one citibank.

[cahbagus555]

I do not believe in the bank and when I store at the bank the bitcoin assets that I have will be known by the bank and it is very terrible and when you save in the bank then you cannot grow the bitcoin that you have, I better use it for trading not just keep quiet .

We are using bitcoins because we want to avoid the banks and you are giving us suggestion to use the bank. That's not the bitcoin users who want banks again. We are getting rid of banks through bitcoins as we are not happy with the current strict rules of the banks.

Like or not, we need something and trade with others using fiat money because government not regulating and prohibiting bitcoin in merchant. I think its good idea if banks accept bitcoin deposit

[creeps]

Yeah it is a good thing because there are now banks who appreciates bitcoins but I do not prefer to store my bitcoin in banks because I know that storing bitcoin in my bitcoin wallet is more safe than storing in bank. We are not sure if the banks can really secured our bitcoins.

Its too risky to trust the banks because they can freeze your account if bitcoin has been banned to your place. I know this is a good move by the banks but its your choice whether to use banks or not. Maybe in the future if there’s already a mass adoption, I will start to trust the bank again, and put my precious bitcoin there.