Bank of Crypto?

[danielchris]

If they're taking chances of centralize crypto, then there will be full hope launches of crypto bank l think  so.

[ven7net]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

I believe that the emergence of a bank for cryptocurrencies is more likely, since the governments of all countries do not like this whole idea with anonymity. And since the crypto community wants cryptocurrencies to be recognized in the world, then they will have to play by the rules of the powerful. On the other hand, the heads of state understand that there can be cryptocurrencies and they themselves can strive to create crypto banks in order to maintain control.

[imstillthebest]

Maybe it can happen but it is impossible right now in my view. l know There are a lot of Bank, which accepted crypto and want to creat their own crypto. But we are not talking about that, we are talking about Bank of Crypto.

i think both are the same  . if the standard banks can accept crypto then how much more the dedicated crypto banks  ?

but i think dedicate crypto banks are more optimized only for crypto use . for example we can deposit and withdrew crypto easily on atm's  with or without card needed and thier security is also good versus on the regular banks that only have a normal security   . 

[uray]

Maybe it can happen but it is impossible right now in my view. l know There are a lot of Bank, which accepted crypto and want to creat their own crypto. But we are not talking about that, we are talking about Bank of Crypto.

Is there a lot of banks that accept crypto currency  , which banks are you talking about and i am in this market for a long time and following all the news and i am not aware of banks that are already accepting any crypto currency, some banks are planning to implement blockchain and it is not a surprise and they might even create their centralized cryptocurrency in the future.

[NeironixNV]

Does it not seem to you that the cryptocurrency bank destroys the entire cryptocurrency plan, because one of the leading ideas of the cryptocurrency (bitcoin) is to get away from central control so that everyone has control over their funds, and not a third party. Then what is the point of this when your funds will again be under the control of a crypto bank, which may not return your bitcoins or other cryptocurrency to you.

[Abiky]

I find it funny though. The idea of cryptocurrency was to phase out these physical banks and their shady financial dealings. Now we are looking at creating a bank for cryptocurrency. Epic!

I know right? But I just came up with the idea, since many newcomers into cryptocurrency often find themselves troubled with securing their own digital funds against hacks or theft. A cryptocurrency-based financial institution, would prove to become useful in securing people's crypto funds over the long term. This would be mostly suitable for newcomers into crypto than experienced crypto users. People who are aware how crypto works and how to use it, won't need to resort to such services at all. A hardware wallet or even a paper wallet would be more than enough for an individual to become his/her own bank.

Even if a "Bank of Crypto" never becomes a reality, newcomers into crypto can easily resort to other means. The rising world of "De-Fi" (Decentralized Finance), provides many services that are similar to those of traditional banks of today. If dApps provide ease-of-use and user-friendliness, they could easily be adopted by newcomers into crypto. Otherwise, we'll continue to see diminished adoption of crypto and Blockchain technology because of their complexity and riskiness.

Nonetheless, it's best for most of us to secure our own cryptocurrency whenever it's possible. With proper education, people can become their own bank instead of needing one for themselves. Traditional banks will continue to provide services with Fiat currency, while crypto will provide decentralized finance to the world. Time will tell us what will be the fate of a crypto banking solution as we know it. Just my thoughts

[RussiaUkraineTranslation]

If you aren't storing your crypto on a hardware wallet I think Coinbase and ecxx are the safest options. Coinbase is insured and ecxx has never been hacked, is regulated in Singapore, and uses ledger vault.

[tiang_tower]

If you aren't storing your crypto on a hardware wallet I think Coinbase and ecxx are the safest options. Coinbase is insured and ecxx has never been hacked, is regulated in Singapore, and uses ledger vault.

So far I have never used Coinbase and ecxx to store my crypto assets, so if Coinbase and ecxx are really safe and highly recommended, it is very necessary to try, and I will also use them.

[huige007]

If you aren't storing your crypto on a hardware wallet I think Coinbase and ecxx are the safest options. Coinbase is insured and ecxx has never been hacked, is regulated in Singapore, and uses ledger vault.

So far I have never used Coinbase and ecxx to store my crypto assets, so if Coinbase and ecxx are really safe and highly recommended, it is very necessary to try, and I will also use them.

Coinbase is at first position now but this keeps on changing. However, the exchange has remain among the top for years and is one of the oldest. It has some good features and for a new comer, this is the right place to start playing with crypto currencies. The fee is also a low one. Apart from that, it gives good options when it comes to making payments.  You can use bank transfer, bank wire, credit and debit cards.

[Abiky]

Coinbase is at first position now but this keeps on changing. However, the exchange has remain among the top for years and is one of the oldest. It has some good features and for a new comer, this is the right place to start playing with crypto currencies. The fee is also a low one. Apart from that, it gives good options when it comes to making payments.  You can use bank transfer, bank wire, credit and debit cards.

Coinbase is a good service, which often resembles a bank. With features such as a "Vault" and "Staking", you could secure your crypto funds and earn some money along the way just like you'd do with ordinary Fiat. It's the best thing there is for newcomers to make use of crypto without any technical knowledge whatsoever. What I don't like about Coinbase is the high fees compared to other prominent crypto exchanges like Binance and Bittrex. But it's one of easiest crypto platforms available in the mainstream world. The new "staking" feature allows people to earn more money with their crypto holdings like a bank's savings account. I've been staking Tezos at Coinbase and have obtained great results with it.

Nonetheless, I believe that there may be no need for a "Bank of Crypto" as centralized exchanges serve the same purpose as a traditional bank. We've already seen this with both Coinbase and Binance where they provide services (like lending, staking, vaults, etc) similar to those of ordinary financial institutions. Eventually, governments may require these exchange to comply with Bank regulations in order to keep providing their services to their customers. At least, newcomers into crypto will have an easier and reliable way to get started with crypto without any technical knowledge. Once they're experienced enough, they could resort to hardware wallets or "De-Fi" apps in order to become a bank of their own. All in all, a "Bank of Crypto" is only optional for the crypto industry since Blockchain technology enables anyone to become a bank with no counterparty risk. Just my thoughts

[JahriMeayer]

That will not happen because cryptocurrency does not have strong support from the state and government, it is only limited to legal use and the price of this unstable crypto does not meet the bank's requirements in my opinion

[Diamond_Darrell]

That will not happen because cryptocurrency does not have strong support from the state and government, it is only limited to legal use and the price of this unstable crypto does not meet the bank's requirements in my opinion

Why do you think so? You can make a bank for mere mortals and see all their transactions without much effort, without the help of special services and fiscal authorities, directly. Such a bank cannot be hacked or robbed, and citizens’s funds can be marked and tracked.

[Abiky]

That will not happen because cryptocurrency does not have strong support from the state and government, it is only limited to legal use and the price of this unstable crypto does not meet the bank's requirements in my opinion

Exactly. The probability of a crypto bank becoming a reality seems bleak nowadays. After all, there are some centralized exchanges which provide the same financial services as mainstream banks (like Binance and Coinbase). The idea of a "Bank of Crypto" would allow newcomers into crypto to properly secure their money without any technical expertise. Experienced crypto users will continue to secure their money as they're already doing by being their own bank (via the use of paper wallets, hardware wallets, etc). With so many important things about crypto to keep in mind today (such as scalability and privacy), a crypto bank is something optional that would prove to boost mainstream adoption if it ever becomes a reality.

Considering that crypto's main flaw is unstable prices across the market, I doubt that Banks would want to adopt cryptocurrencies anytime soon. Only stablecoins (like Tether, TrueUSD, and Binance USD) have a better chance of becoming adopted by worldwide banks than ordinary cryptocurrencies because of their stable prices across the market. Hence, crypto bank or not, the entire Blockchain industry will be here to stay for many years to come. Just my thoughts

[salty]

The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

That's exactly what newcomers would never use such a service in a bank for.A bank and cryptocurrencies is a nightmare for crypto enthusiasts. But still, cryptocurrencies are moving towards regulation, so most likely assets such as cryptocurrencies will appear in banks soon.

[huu78]

If the crypto bank is there as well as more crypto managed and its ecosystem maintained by them. But blockchain is decentralized and transparent if there is a crypto bank is just the technology they are useless.
Even better is not his bank but some are managing the ecosystem to be awake well from scammers and scammers that can be meshed with chapters and put in jail.

[pishite]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

Banks do not want to leave and already want to switch from fiat currency to cryptocurrencies, but why should I give them my coins if I can store them in a cold or hardware wallet.
Moreover, nobody can take them from me.
And if the Banks cease to exist then I will lose my savings.

[btc-facebook]

If the crypto bank is there as well as more crypto managed and its ecosystem maintained by them. But blockchain is decentralized and transparent if there is a crypto bank is just the technology they are useless.
Even better is not his bank but some are managing the ecosystem to be awake well from scammers and scammers that can be meshed with chapters and put in jail.

yeah right, cryptocurrency is famous for decentralization and is also transparent so if there is a crypto bank, cryptocurrency is not much different from FIAT banks. and will become useless.
because basically, every person who owns a wallet is the bank itself, so there is no need for a cryptocurrency bank.

[Longthi_4823_Love]

Crypto bank is an extremely good and secure cryptocurrency protection repository. If we are more careful, we can find intermediary liability transactions.

[Nguyenthanh2391]

At present, electronic money bank is not an absolute safe place and has gained a lot of trust from people. The government should strictly manage and put more stringent regulations.

[superstrength]

Yes, not everyone agrees with this because it defeats so many of the purposes of cryptocurrency and blockchain technology. The idea of a bank that provides cryptocurrency services has not been fully implemented as expected and currently only proves the ability for mwois people to participate in cryptocurrencies.