First licensed crypto-BANK!

[cryptokingdom]

Establishing a cryptobank is good innovative in the financial world, I hope the transaction charge of the cryptobank will not be more than the traditional banking system we are running from because most of the cryptocurrency to fiat exchanging  platform charges even more than bank.

[fauzan Ichsan]

Establishing a cryptobank is good innovative in the financial world, I hope the transaction charge of the cryptobank will not be more than the traditional banking system we are running from because most of the cryptocurrency to fiat exchanging  platform charges even more than bank.

in essence all people want transactions that are fast and inexpensive and safe. many people with conditions like now they do not argue about fees, but there are also those who question it, depending on personal viewpoints

[MainIbem]

The conventional banks are restricted by so many regulations it is practically impossible to engage in crpto banking. Therefore the idea of crypto banking is a good one. It will be focused and not encumbered with that much regulations as the conventional banks.

[mazdafunsun]

The conventional banks are restricted by so many regulations it is practically impossible to engage in crpto banking.

Isnt this exactly why cryptobanking is not possible at this point of time? Because in order to do cryptobanking + FIAT you need licenses, but crypto would deny the license..?

[Steinway-Bobb]

The time will tell if this will be successful project or not. It's good thing that such bank has appeared but the fees are horrible. With some competition that might appear in the future hope this will change too. And let's see how users will accept this new concept.

[BaraxLo]

Hmmm, more like a token bank which will use its own token.
And the fees...god !!!!!...the feees !!!!

https://eqibank.com/fees/

Annual Fee:   Accounts <€5M Maintenance € 1’000
Wire Transfer Fee:   € 100

I hope there are quite a few of extra zeros in that table or it's some sort of Aprils Fools Halloween joke !

100 euros? Only for transferring fee? It is too high. I don't want to say that it is good in the part of cryptocurrency people but it does not mean that it will become assurance of price hiking. Well, I thought that banks never want crypto to exist so I assume also that this is a token bank. Well, a lot of ICO's I saw that are related in crypto banking which are scam.

Oh! You think bank really knows what they want? What they are just basically after is to keep trying as much as possible to want to at least keep milking those they can milk and as long as there is potential for profit when it comes to a new thing, I am sure they will always find a way to blend in.

We always know how banks have always operated for their own selfish reasons, so I see no doubt in seeing them trying to at least take advantage of some set of people who want to be a part of this space, but don't just know how to go about it and as long as they are benefiting from it, they will just shut up eventually. Have you not noticed that banks are the biggest hypocrites the world can ever have?

[davinchi]

EQIBank is definitely proud to get The first crypto-BANK license, I saw a lot of Cryptocurrency competition that was prestigious and getting hotter, and to be honest I wanted to know the end result of crypto competition in the future.

It seems to me like this is going to be the new trend we are going to be seeing very soon, considering how banks are beginning to find every single means to at least be a part of the cryptocurrency ecosystem and benefit from it.
It is not a bad idea, as this would generate some awareness at least, and even though I have never been a good fan of the bank, and now that there is an alternative with cryptocurrency with which I can easily be my own bank, they can go screw themselves.

Nonetheless, we need to accept that not everyone will be able to think or act the same way we do, and some will find it a bit hard to make some decisions on their own, and if banks decides to fill this gap, in as much as they know they will be gaining a lot from it, but still, it would help increase adoption the more in a way and won't restrict it to just the internet savvies.

[KalaiBTC]

A bitcoin bank is a contradiction in terms, since the blockchain is already a bank. In addition, in this operation there are many obscure points, so it seems to me a good and good scam. We'll see how it turns out.

Certainly no doubt it is a huge contradiction, considering the fact that as a cryptocurrency user, you are meant to be your own bank without the involvement of a third party, but we still have to realize that in as much as it could be easy for some of us, there is still a chance that some will really find it hard, so in that way, if banks want to be involved in the space, to at least service the latter, then I guess there is a lot of room for everyone and then a chance for the space to grow further.

However, at this stage, I really do not expect any smart person who is a tech savvy to obviously trust the banks over their own judgment to keep their funds for them.

[Schmidt Abrams]

crypto-banking is a good step towards creating public trust in crypto and this will encourage more investors and new users to join crypto, if this continues and the more new crypto banks emerge then we will know what the future of crypto will be

Yes, I agree with you, crypto- banking is a first step that will open a new world for cryptocurrency. hopefully there will be more crypto-bank in near future.

[stompix]

~

100 euros? Only for transferring fee? It is too high. I don't want to say that it is good in the part of cryptocurrency people but it does not mean that it will become assurance of price hiking. Well, I thought that banks never want crypto to exist so I assume also that this is a token bank. Well, a lot of ICO's I saw that are related in crypto banking which are scam.

Oh! You think bank really knows what they want? What they are just basically after is to keep trying as much as possible to want to at least keep milking those they can milk and as long as there is potential for profit when it comes to a new thing, I am sure they will always find a way to blend in.

We always know how banks have always operated for their own selfish reasons, so I see no doubt in seeing them trying to at least take advantage of some set of people who want to be a part of this space, but don't just know how to go about it and as long as they are benefiting from it, they will just shut up eventually. Have you not noticed that banks are the biggest hypocrites the world can ever have?

Yeah, banks have a simple plan. They want to make money, just like any damn business out there.
I doubt there is a single person here that is going to say, forget about money I will do it for free 8 hours a day, 30 days a month just because I feel like working for free brings me close to Walhalla.

Banks have investors, you can buy shares, even in those new shady crypto banks, you can buy their tokens, its business nothing special.
And what would be your plane once you're a shareholder? Not getting as many dividends as the bank can deliver?

Talking about being hypocrites.
I know a guy that was cursing the major oil company in our country day and night till he realizes that one investment fund he put about 10k down was having a big stock in that company, and most of his plan growth came from the exact guys he was screaming are making tons of money stealing from his pocket. Whenever I start talking about that subject he tries desperately to change the discussion ...probably if I continue doing this he will get out of that investment plan ...but the scent of money is too strong.

[Ryanbruc]

BTCANKING ON BTCITCOIN

"EQIBank acquired its banking license in September 2018 to become the world’s first licensed and regulated bank to provide customers with a single banking relationship for their entire national currency, crypto and digital asset ecosystems. Instead of having to form multiple relationships with separate financial institutions, customers can access a comprehensive suite of services including clearing and settlement, trading, custody, lending, and banking." Pulled from https://www.financemagnates.com/thought-leadership/eqibank-the-first-licensed-bank-for-crypto-national-currencies/

As I look around and try to find the next biggest trend in crypto, I came across a company called EQI. I've been in the space for roughly 4 years and have seen it start from ICO's to Airdrops, Exchanges, and now Oracles and crypto-banking. I've looked over this project for some time and they seem to have their s%$! together as far as compliance, team, and vision.

Being in America, I think this would suit those best as we have to deal with these centralized giants like Wells Fargo, Chase, Suntrust, etc taking our funds and the fact we don't even own the money that we think we do- it's just what we are "owed".  I believe this can be the next wave of crypto trends and I hope to see others follow in the same path. We need to eliminate the disease of big banks we have now that are taking our money! What are your thoughts on EQI and the current banking system? Are we nearing a solution to this epidemic?

https://i.imgur.com/uuoEB9y.jpg

What good reasons do you have that makes you think anyone would agree to make use of this Bank? 🤔And btw, no one ever said that their bank is owing them or whatever it is you’re trying to say. Bank is all about safety and everything they do is due to security reasons. I will rather have my money saved in banks than putting it online in a cryptocurrency bank. If tomorrow my bank mess up with me I know where to find them but not you people.

[Osarman]

Has EQIbank been established and is operating or still in the project? if it is not already operational, then there is one more project that has obtained a license before EQIbank, it is World Bit Bank, they obtained a license in February 2018. You can see it on the website https://wbb.io

They didn't obtain a banking license they've just obtained a license for running a web wallet and an exchange service.
Besides those are obtained in Estonia, and in Estonia, you can get a business up and running in a couple of hours online.

Ignoring the team, made out of guys that were running a fitness business in the past the whole roadmap is hilarious.

27.06.2018-01.09.2018
Acquisition of an existing bank in Europe;

01.09.2018-31.12.2018
ICO and raising 250 million € for acquisition of nine existing banks (scaling)

250 million for 9 banks? lols, Piraeus sold their crappy business with 100 000 clients in Serbia !!!!!! for 70 million and they want to buy 9 in the EU , US and Japan???

Let's see how this scam will end!

Most of these are exchanges pretending to be banks. There is nothing useful about them, so I don’t know why people are killing themselves over this matter. Blockchain is not meant to have any bank, if we get bank for Blockchain then it will be the same as the physical (original) banks we’re using, cause you won’t the complete control over your money and you can’t make transaction without them authorizing or without having them as the middleman. It’s clear that some people don’t even know anything about Cryptocurrency and that’s how they keep falling for scam.

[fly99]

This is a happy news that there will be more banks and cryptocurrencies in the future. Nowadays, because cryptocurrency has just begun, many targeted technologies cannot be popularized. But the future blockchain will change humanity.

[d1ceplayer]

At this point webpage is not working for me, i cant tell how legit they are but as far as i can tell from linkedin page, it seems far fetched- account opening in the end of 2018.
Since cryptos at large are not regualted yet, i dont see how this could be a legitmate venture, at least not now. Maybe they can do regualr finances while being crypto friendly..till regulation is in place.

Oh man it is so hard. People have put trust in bitcoin after contrasting services by bitcoin for so long eight years. Now, people start thinking of some investing or trading with bitcoin. So, these crypto banks wouldn’t be so easy. They need big effort to grasp the trust of users. They must make their foot hard in market and to develop enormous trust of users.

[Evil eye]

It is very good news for crypto traders and users. Some crypto bank are definitely need for online currency revolution. I think this bank will help every crypto traders and investors. I'm personally happy for established EQIBank. Everybody hope, in future many banks will work for cryptocurrency.

[TrumpD]

The thread topic should be changed from "First licensed crypto-BANK!" to "Another Centralized Crypto Entity" that may decide to hold on to your crypto assets whenever it pleases them, or maybe run away with them. Crypto banking is akin to scamming simples, and defeats the main principle behind crypto.

[tbterryboy]

The conventional banks are restricted by so many regulations it is practically impossible to engage in crpto banking. Therefore the idea of crypto banking is a good one. It will be focused and not encumbered with that much regulations as the conventional banks.

Well it is far more relief to invest and use the crypto side rather than using the bank. I do agree and detain this fact that banks have been exploiting all the costumers who use the services in the form of many hidden charges. In addition, they restrict you to use all the features and you might need to pay additional charge for having the benefits of that particular service. So in my opinion, since nothing like this exists in the crypto, it is far better to use crypto than Banks.

[Renaldi blackspadeteam]

Nonetheless, we need to accept that not everyone will be able to think or act the same way we do, and some will find it a bit hard to make some decisions on their own, and if banks decides to fill this gap, in as much as they know they will be gaining a lot from it, but still, it would help increase adoption the more in a way and won't restrict it to just the internet savvies.

I agree, I also think that every individual has his own opinion about crypto so I don't feel queer if someday there will be a difference of opinion about crypto in the future, maybe this is like a election vote, so if the opinion is much the most he wins

[Menawi12]

I think bitcoin created by satoshi because we can transfer without using third party like banks. I think many project like this and hopely the project will offering more feature than just a bank for cryptocurrency

[anthon.stephens]

I think bitcoin created by satoshi because we can transfer without using third party like banks. I think many project like this and hopely the project will offering more feature than just a bank for cryptocurrency

I agree. Just a crypto bank is not interesting. Need something more.