You Can Now Keep Your Bitcoins In A Bank

[ioanbtc]

I also not preffer to hold bitcoin on bank, i don't have any reason to do, i hold my coins on hardware wallet for over 1 year and i don't have any problem, is better to hold bitcoin on wallet where you have private keys.

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[FlightyPouch]

I also not preffer to hold bitcoin on bank, i don't have any reason to do, i hold my coins on hardware wallet for over 1 year and i don't have any problem, is better to hold bitcoin on wallet where you have private keys.

Obviously. Despite bitcoin being one of the most secure program of this world, if you do not know how to take care of it, that is useless. A lot of hot wallets are hacked nowadays that is the reason most of the people nowadays use cold wallets to store their bitcoins and other crypto currencies. Keeping your bitcoins in the bank just destroy the reason of crypto currencies, it is decentralized and we don't need other people to keep it for us since we can do that part ourselves.

[doomistake]

I also not preffer to hold bitcoin on bank, i don't have any reason to do, i hold my coins on hardware wallet for over 1 year and i don't have any problem, is better to hold bitcoin on wallet where you have private keys.

Obviously. Despite bitcoin being one of the most secure program of this world, if you do not know how to take care of it, that is useless. A lot of hot wallets are hacked nowadays that is the reason most of the people nowadays use cold wallets to store their bitcoins and other crypto currencies. Keeping your bitcoins in the bank just destroy the reason of crypto currencies, it is decentralized and we don't need other people to keep it for us since we can do that part ourselves.

That is exactly what he said. I considered hard wallets as hot wallets, and there is no way that someone could hack your bitcoins when you are using that unless you're going to be careless on keeping your private key. I am also using hardware wallet and I've never encounter losing my bitcoins because of hackers. Maybe it could be possible to lose your bitcoins if those "hot wallets" that you were saying happens to be web wallets.

[huu78]

This is good news if they make innovations like this. In China, they have also started to adopt blockchain in their government. Whether it is like this or not.
I hope banks in other countries also accept crypto like Bitcoin is acceptable and in the sale of traded safely and transparent. They will droves to secure it at the bank as it is safer and more feasible.

[Eugenar]

On the one hand, this helps normalizing bitcoin. If people know that you can have bitcoins in a bank, they will think it is just as any other asset you can have there: stocks, funds, gold...and they will unlink it with ideas like Ponzi, fraud, etc.

On the other hand, none of us would deposit their bitcoins in the bank because it goes against the very purpose of it and you won’t have your private keys.

I’ll keep mine in my hardware wallet.

If we think of it deeply, what is the reason why we need to keep our bitcoin in a Bank? To keep in an outside party? None right? Because according to the white paper by the sole creator of bitcoin, it is in fact, PEER TO PEER where third parties such as banks are not needed. There are many assets that we can choose but choosing bitcoin to save in bank is a such a disrespect to the main characteristic that bitcoin has.

Well, my advise is for us to use hardware wallet and keep it in vaults so we can be our own bank.

[erickastella]

This is a very good news where bitcoin has been recognized by the bank, maybe the news is still confusing because of the lack of information, but the US community is very lucky because it can try to invest the Citibank even though the amount for a minimum investment of 100,000 USD but I think for nominally large investors like that it doesn't matter

[Flor1982]

If the banks could give me specific reasons and advantages of why should i deposit my Bitcoin in their care then maybe i will let them to keep my assets specially if they will offered me a higher interest every month but for now i feel more comfortable of keeping them myself as its looks like keeping it in the bank it will just deprive me of my decentralization privileged.

[meliodas]

I don't why would people do this. We should not keep our bitcoins in a bank because when you store it inside a bank, you fall under centralization because the bank can now take care of your bitcoin and they can use it to make more bitcoin and they can freeze your account whenever they want. Bitcoin is created to promote decentralization and banks are not necessary because we already got plenty of wallets for storing bitcoins.

[BennyK]

I have read some articles which state that there are some Banks in some countries which accept Bitcoin and some other well-known cryptocurrencies deposit. This is very innovative and a plus for the crypto enthusiasts in such countries. Here, the crypto merchants perform such functions. They allow the deposit of Bitcoin and instantly convert it to fiat using the current market price.

[Triffin]

I also not preffer to hold bitcoin on bank, i don't have any reason to do, i hold my coins on hardware wallet for over 1 year and i don't have any problem, is better to hold bitcoin on wallet where you have private keys.

Nobody wants to lose the anonymity and freedom they have by keeping bitcoin and other crypto currencies into wallets at any cost. If people start keeping bitcoin in banks, definitely banks are going to get all your sensitive information and you would also be paying taxes. It could be good option only for those who fear forgetting keys or they think banks will keep good care of their bitcoin.

[liuqi]

I also not preffer to hold bitcoin on bank, i don't have any reason to do, i hold my coins on hardware wallet for over 1 year and i don't have any problem, is better to hold bitcoin on wallet where you have private keys.

Nobody wants to lose the anonymity and freedom they have by keeping bitcoin and other crypto currencies into wallets at any cost. If people start keeping bitcoin in banks, definitely banks are going to get all your sensitive information and you would also be paying taxes. It could be good option only for those who fear forgetting keys or they think banks will keep good care of their bitcoin.

well said and I see many peoples are thinking that Bitcoin is going to the good part like adoption with banking but the factors getting accepted by the banker's seriously hai danger for the decentralized cryptocurrency market.
this announcement by Citibank was towards Bitcoin adoption around 2 years back I guess.
please don't believe such banking adoption and make yourself full on investing towards it and it will be a problem for you only.

[Sirait]

I still remember the slogan of Bitcoin is "Be your own Bank". so it's very inefficient and useful if we use the Bank to store our Bitcoin assets. Banks will definitely use our assets for their business interests.

I don't believe in the security of banks and private keys are very sensitive things.

[cutesgirl]

I also not preffer to hold bitcoin on bank, i don't have any reason to do, i hold my coins on hardware wallet for over 1 year and i don't have any problem, is better to hold bitcoin on wallet where you have private keys.

Nobody wants to lose the anonymity and freedom they have by keeping bitcoin and other crypto currencies into wallets at any cost. If people start keeping bitcoin in banks, definitely banks are going to get all your sensitive information and you would also be paying taxes. It could be good option only for those who fear forgetting keys or they think banks will keep good care of their bitcoin.

well said and I see many peoples are thinking that Bitcoin is going to the good part like adoption with banking but the factors getting accepted by the banker's seriously hai danger for the decentralized cryptocurrency market.
this announcement by Citibank was towards Bitcoin adoption around 2 years back I guess.
please don't believe such banking adoption and make yourself full on investing towards it and it will be a problem for you only.

Do not trust any more you can keep your bitcoin assets in the bank because very risk for bank make bitcoin saving replace with cash money, bank only focus with saving have the same value for several years later and bitcoin is not possible as saving in the bank, still not adoption for using bitcoin make bank never have chance if want to adopt bitcoin for saving money in the bank.

[yulionoo]

Yes, I think this is very exciting news for all crypto fans because of the new innovation and offerings. Even though it only serves high-level demographics, there is a minimum threshold for investment acceptance, I'm still sure that would be good news for cryptocurrency. because I think this is the development of a good digital asset receipt by Citigroup, and maybe people will trust more with the security of their digital assets.

[Kambal2000]

Do not trust any more you can keep your bitcoin assets in the bank because very risk for bank make bitcoin saving replace with cash money, bank only focus with saving have the same value for several years later and bitcoin is not possible as saving in the bank, still not adoption for using bitcoin make bank never have chance if want to adopt bitcoin for saving money in the bank.

Agree with all of you, I won't risk my cryptocurrency in saving it in bank, for sure they will offer small amount of interest, but with higher tax income and withdrawal fee, so I won't trust them my holdings as we can hold it in ourselves, so why will I entrust this to them, right? They are just after the money but it will be hard for you to withdraw it, they will question and it will take a lot of time, so let's not fall into this trap.

[Wintersoldier]

I still remember the slogan of Bitcoin is "Be your own Bank". so it's very inefficient and useful if we use the Bank to store our Bitcoin assets. Banks will definitely use our assets for their business interests.

I don't believe in the security of banks and private keys are very sensitive things.

Basically sooner or later we will realize how banks are helping the government as well as our economy in terms of financial aspects of utilizing money. But there's also allot of flaws that banks are not allowing us to see easily that they are doing. In this case, the combination of cryptocurrency and banks would be possible without incorporating bitcoin but in the creation of their own blockchain technology that will serve as the backbone of their own crypto. I can say, bitcoin will really not be associated directly with banks, banks doesn't want bitcoin either so the only way for banks to keep track of the financial innovation is to use blockchain technology.

[n0ne]

I still remember the slogan of Bitcoin is "Be your own Bank". so it's very inefficient and useful if we use the Bank to store our Bitcoin assets. Banks will definitely use our assets for their business interests.

I don't believe in the security of banks and private keys are very sensitive things.

Basically sooner or later we will realize how banks are helping the government as well as our economy in terms of financial aspects of utilizing money. But there's also allot of flaws that banks are not allowing us to see easily that they are doing. In this case, the combination of cryptocurrency and banks would be possible without incorporating bitcoin but in the creation of their own blockchain technology that will serve as the backbone of their own crypto. I can say, bitcoin will really not be associated directly with banks, banks doesn't want bitcoin either so the only way for banks to keep track of the financial innovation is to use blockchain technology.

It is true, banks are helpful in developing the economy of a country regardless the mistakes and lack on certain things. Banks are now trying to keep themselves updated to the growing demand, and as a part now bitcoin holding is possible through the banks. This is something a better news for people who believe on banking services rather than other forms of investments.

[Xxmodded]

I still remember the slogan of Bitcoin is "Be your own Bank". so it's very inefficient and useful if we use the Bank to store our Bitcoin assets. Banks will definitely use our assets for their business interests.

I don't believe in the security of banks and private keys are very sensitive things.

Basically sooner or later we will realize how banks are helping the government as well as our economy in terms of financial aspects of utilizing money. But there's also allot of flaws that banks are not allowing us to see easily that they are doing. In this case, the combination of cryptocurrency and banks would be possible without incorporating bitcoin but in the creation of their own blockchain technology that will serve as the backbone of their own crypto. I can say, bitcoin will really not be associated directly with banks, banks doesn't want bitcoin either so the only way for banks to keep track of the financial innovation is to use blockchain technology.

It is true, banks are helpful in developing the economy of a country regardless the mistakes and lack on certain things. Banks are now trying to keep themselves updated to the growing demand, and as a part now bitcoin holding is possible through the banks. This is something a better news for people who believe on banking services rather than other forms of investments.

Safe bitcoin not have in the bank just use offline ledger wallet you can safety for saving your bitcoin and altcoin, never doubt with how trusted and safety using offline ledger wallet for saving your bitcoin, you can save for ten years later as your future investment without paying fees each month than if you use bank as your destination for saving bitcoin, lately today still not support any bank want to accept saving bitcoin and altcoin.

[kuyaJ]

I still remember the slogan of Bitcoin is "Be your own Bank". so it's very inefficient and useful if we use the Bank to store our Bitcoin assets. Banks will definitely use our assets for their business interests.

I don't believe in the security of banks and private keys are very sensitive things.

Basically sooner or later we will realize how banks are helping the government as well as our economy in terms of financial aspects of utilizing money. But there's also allot of flaws that banks are not allowing us to see easily that they are doing. In this case, the combination of cryptocurrency and banks would be possible without incorporating bitcoin but in the creation of their own blockchain technology that will serve as the backbone of their own crypto. I can say, bitcoin will really not be associated directly with banks, banks doesn't want bitcoin either so the only way for banks to keep track of the financial innovation is to use blockchain technology.

It is true, banks are helpful in developing the economy of a country regardless the mistakes and lack on certain things. Banks are now trying to keep themselves updated to the growing demand, and as a part now bitcoin holding is possible through the banks. This is something a better news for people who believe on banking services rather than other forms of investments.

Safe bitcoin not have in the bank just use offline ledger wallet you can safety for saving your bitcoin and altcoin, never doubt with how trusted and safety using offline ledger wallet for saving your bitcoin, you can save for ten years later as your future investment without paying fees each month than if you use bank as your destination for saving bitcoin, lately today still not support any bank want to accept saving bitcoin and altcoin.

But there are some online wallet that are safety just input some recovery because it was too hard to recover if you havent any access on your account.

It is good to invest in bitcoin than bank but has a risky. But think that the bitcoin was still alive now and soon there are some demand will go as we want so do hold bitcoin.

[Daltonik]

Bloomberg reports that the largest bank in the Philippines, UnionBank, together with Swiss custodian Metaco and IBM, is going to add trading and storage of digital assets to the line of services for its customers. Cathy Casas, head of the UnionBank blockchain group, believes that it can be expected that over the next five years approximately 3-5% of Filipinos will be able to place cryptocurrency on their accounts.
So it is possible that UnionBank customers will soon have the opportunity to buy, accumulate and sell cryptocurrencies.

https://www.bloomberg.com/news/articles/2022-01-20/crypto-enthusiasm-prompts-philippine-bank-to-launch-trading