Bitcoin cryptocurrency banks needed.

[conected]

We DO NOT need centralized Banks to secure our bitcoins, but we need more Bitcoin friendly banks to convert our bitcoins to Fiat currencies and visa versa, when we want to do that. The Banking system are trying their best to sabotage Crypto currency clients, by closing their Bank accounts, when they figure out that clients use their Bank accounts for Crypto currency conversion.

We need some Banks to go against this global trend and to help those clients that got burnt by their local Banks. 

- Yes, we really need banks that offer services like converting crypto and bitcoin into cash and vice versa because the service that banks offer will be safe and reliable, even the cost of conversion will be quite cheap. But unfortunately, most banks do not offer similar services, what they do is as you say, constantly control our account and if they find evidence relating to buying and selling bitcoin and crypto, they will terminate our activities with the account and report it to the government, Bitcoin users do not need such banks, which is a disadvantage for them

[richminded]

I do use bank already when i don't know cryptocurrency like i really save some money there like for me this brings so much convenience in saving and in different transaction with low fees then even with regulator like government so if some create or develop wallet for bitcoin like that i think that's good but the price is really volatile so for me government will not allow that like they want assurance,Moreover that's possible if you can think then someone can really create or develop like that

That's must be regulated, its hard for a cryptocurrency to create its own bank because there is no regulations right now. Its true that bank is there before, I also using it until now but since cryptocurrency is way better, it can be a good idea to create a one place where you can put your coins easily and with a high security. We have more years to go, maybe in the future some developers will try to create their own bank.

[senin]

Bitcoin is decentralized and anonymous in its transactions. The creation of Bitcoin banks will mean that the crypto bankers will know the people behind each transaction thereby breaching that anonymous feature of Bitcoin. Bitcoin needs more merchants where it can easily be converted to fiat and vice versa rather than Bitcoin banks which comes with a whole idea of centralization.

Now many exchanges require the provision of our confidential data. Therefore, the problem with cryptocurrency banks is not that. I don’t understand a little why we need to keep cryptocurrency or information about it in such banks. In order to transfer it by inheritance in case of our sudden death or receive dividends from their storage?
However, I see no harm to the cryptocurrency of the existence of such banks. If it will be profitable for them, then let them work. Who does not like these banks, he will not use their services. This is a voluntary matter.

[Jimmymark]

The sound bitcoinbank sound much better then hsb@ so I can see the market need this service. Soon someone will do, probably one if the large high street names. But now I am asking my self would I just use my bitcoin bank card to get flat currency from a cash machine.

Still if anyone want to comment then please leave one. Love to hear your views.

Thanks

[malikusama]

Why I supposed is because not all cryptocurrency uses can store there cryptocurrency safely and need support.

What type of support do crypto users need? I can't understand your point.
Cryptocurrency is much safer than fiat, totally encrypted and decentralized, no one can even smell your cryptos if you have maintained your security.

Most important factor here is if you have a lot of cryptocurrency and store on a ledge or pc what would happen if something goes wrong. Like the Canadian cryptocurrency exchange where the owner dead and investors lost there crypto because he was the only one with access to the legal.
 If this was stored in a bank and was in control of cryptocurrency bank manager then this would have been avoided.

There is difference between a exchange holding cryptos and an individual holding his/her assets.
The cryptocurrency exchange you have stated was centralized, and it was management's fault to not take preventive measures earlier to avoid these consequences.

[BitHodler]

But if the banks it's like one place to save the coins, I think we don't need those banks because we already have many wallets.

It all comes down to the features they offer. If you as whatever bank offer people interest and insured balances, they'll hop over to your service without thinking. What legal entity within crypto offers that now?

We have seen how unregulated platforms have attempted to do so, and it turned out to be quite lucrative on paper, but after a while people painfully understood that they made a mistake putting faith in an unregulated entity.

Xapo and Coinbase offer custody solutions already, but not based on interest, so for now they only serve very wealthy Bitcoiners--the moment they dig into that they'll experience a massive adoption boost from legacy investors too.

To add, Coinbase might become a bank itself since it is working on a banking license.

[izanagi narukami]

When any currency place into bank, they are not decentralized anymore.
Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.

Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !

[Wingzcrypto2018]

In the first place I don't trust any bank. But sometimes due to it is part of the requirements I am oblige to get a bank account to be qualify in the transaction I need in the business. But there are other banks now that are adopting the system of crypto currency, like unionbank if I not mistaken anyway.

[Beerwizzard]

When any currency place into bank, they are not decentralized anymore.

Banking service is centralized, bitcoin can't become centralized if you send it to the bank.

Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.

Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !

People love crypto because it brings them money. Prove to them that BTC will sure never grow and cryptocurrencies won't be so interesting. Decentralization is just one of the features of bitcoin.
Banks can help to secure the money of its users and provide some more benefits as they do with fiat bank cards.

[Ayiranorea]

When any currency place into bank, they are not decentralized anymore.

Banking service is centralized, bitcoin can't become centralized if you send it to the bank.

Remember that people like crypto because it has something special that not have on any currency before and IMO decentralized , currency.

Let say if the bank accept bitcoin, I can say that goverment able control bitcoin supply !

People love crypto because it brings them money. Prove to them that BTC will sure never grow and cryptocurrencies won't be so interesting. Decentralization is just one of the features of bitcoin.
Banks can help to secure the money of its users and provide some more benefits as they do with fiat bank cards.

When one depend on banking for holding our funds, it goes out of decentralization. When we expect services from banks for our funds, they mutually take control of our funds. This way banks weren't required, by now banks are in need of cryptocurrency to make them strong and we're in need of banks to reach the common people.

[Dapper]

What is needed are more banks that have bulletproof relationships with crypto exchanges and won't suddenly close the accounts of crypto exchanges.

[Ridwan Fauzi]

I am one of them that support cryptocurrency banks.
Why I supposed is because not all cryptocurrency uses can store there cryptocurrency safely and need support.
Most people don’t know about cryptocurrency wallets or have never used cryptocurrency but want to know more.

Most people who doesn't know about wallet cryptocurrency are ordinary people who are new to cryptocurrency and they haven't interested yet to buy it, but if they have understood about cryptocurrency and they intend to buy cryptocurrency then I believe wallet is one important factor they should know. Like you have money but you don't know about a pocket book, it is really strange for me.

Most important factor here is if you have a lot of cryptocurrency and store on a ledge or pc what would happen if something goes wrong. Like the Canadian cryptocurrency exchange where the owner dead and investors lost there crypto because he was the only one with access to the legal.
 If this was stored in a bank and was in control of cryptocurrency bank manager then this would have been avoided.

Something goes wrong will also come to bank without you knowing it. Is there any guarantee from the banks that makes me sure the assets that I have are safe? I guess not, they have a gap also for things that are not desirable. Cryptocurrency has taught me to be myself, as much as possible I try hard to dodge some parties to manage my asset.

[Netnox]

Makes no sense. One of the factors that motivated Satoshi was the idea of creating a currency that can be kept outside the control of the banks. And the advantage with BTC is that you can store the currency on your own. You don't need a bank account for that purpose. And for trading, you have thousands of crypto-exchanges out there, both regulated and unregulated.

[Pab]

I don't care about crypto currencies banks
Bitcoin appear to be banks alternative
However i very much support idea of Fintech services
I want minimum possible KYC .easy low cost both way crypto/fiat exchange ,cards and my personal data protected by blockchain

[Tylev]

While it is rather difficult to say whether we need a cryptocurrency bank or not. Everything will ultimately determine demand. We must first see what services and how these banks will provide. Such banks should begin their work and prove the necessity and convenience of the services provided. If services are in demand, then such banks will exist, and if not, they will go bankrupt. These are the laws of business and market.

[Jimmymark]

Voting has ended.
Thank you for adding your replys

[danherbias07]

And that is why you need back ups.

We also want to change the banking system since it is operated only for their purpose and not for the public.
If you could see names at mutual funds and equities you will find out that mostly they are banks and corporations only.

They get richer from our money and they even take more when we are using loans.
Is that fair?
Then just .01 percent annually will go back to you once you keep your money to them.
Yes you are safe but for what expense?
To make the poor dead with starvation?

[iqlimasyadiqa]

I am one of them that support cryptocurrency banks.
Why I supposed is because not all cryptocurrency uses can store there cryptocurrency safely and need support.
Most people don’t know about cryptocurrency wallets or have never used cryptocurrency but want to know more.

Most important factor here is if you have a lot of cryptocurrency and store on a ledge or pc what would happen if something goes wrong. Like the Canadian cryptocurrency exchange where the owner dead and investors lost there crypto because he was the only one with access to the legal.
 If this was stored in a bank and was in control of cryptocurrency bank manager then this would have been avoided.

I have made a quick poll to see what members say. Please leave a reply if you have any idea how this will work.

Thank you for reading

of course the bank will be needed someday. Banks must be able to guarantee that the digital currency we have is safe. even if it can be fully applied and eliminate the fiat system, the bank is a must !! later digital currency banks will have the same role as conventional banks, digital currency banks can provide loans and credit installments. this is the bank's main function and I am sure that over time this can all be realized.

[0t3p0t]

They would have to be insured but the entire point was that it was a system where there was no trust needed. You don't need to trust a bank to keep it safe.

Exactly. Here in this cryptocurrency world, banks are useless as we ourselves has the full control of our funds by just using online or hardware wallets. I don't support cryptocurrency banks they are just some sort of a joke in this industry. We don't need something like cryptocurrency banks as this kind of asset is in a decentralized form which we don't need entities or middleman or whoever that has to take care of our funds.

[Beerwizzard]

They would have to be insured but the entire point was that it was a system where there was no trust needed. You don't need to trust a bank to keep it safe.

Exactly. Here in this cryptocurrency world, banks are useless as we ourselves has the full control of our funds by just using online or hardware wallets. I don't support cryptocurrency banks they are just some sort of a joke in this industry. We don't need something like cryptocurrency banks as this kind of asset is in a decentralized form which we don't need entities or middleman or whoever that has to take care of our funds.

You can keep your cash in your pocket and you can bring it to bank, fund your card. That would help you to make online purchases and ensure that in case of scam your money would be given back to you. They are not taking your "freedom" but only help you to use your money safer. Currently, bitcoin is lacking the same features.
In general discussion bitcoin is opposing central banks, not commercial ones.