Countries with banks to buy and sell cryptocurrencies

[panganib999]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit. What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

Aside from Japan & Switzerland where cryptocurrency movement is really strong and expanding, I am expecting that South Korea can be the next one for this trend. Though we are generally wary about banks getting into cryptocurrency I am still considering this as a good news because this can help this industry spread to as many people as possible. We have to admit that people are still trusting banks (even if we might refuse this fact) and so banks can therefore be of big help to convince more people to invest with cryptocurrencies. Banks are for profits and generally they want to deal with anything where they can be making money and where there is clearly a good demand. They are seeing it with cryptocurrency. Let's see and watch developments on this thing and whether this trend can be catching up fire and spread to many other countries as well.

Yes, banks are a good thing to be in the crypto industry, even when we know they are centralized entities, they are a good tool for achieving mass adoption. They might not be there all the time, once people realize the power of decentralization, they might stop using commercial banks!

We all know that banks are very crucial when it comes to holding money. Being decentralized is more helpful for the people to adopt cryptocurrency in their daily lives. Mass adoption really needs to improve because with that, the demand in bitcoin will increase its price. Probably, if that happens, all holders will celebrate and banks will also benefit the people by means of fees and taxes. That's why some banks in a certain country allows it, because they know that cryptocurrency has a big factor to their economic state.

Singapore and Japan are countries where you can also buy and sell cryptocurrency. We all know that those two countries are well-developed countries and high in technology so it is not impossible for them to implement such cryptocurrency in their country. People already adopted cryptocurrency when it was first promoted by the government so it is easy for them to use it nowadays. They achieved mass adoption quickly because of using  their technology in promoting cryptocurrency and I read that most of the people there are mining bitcoin just like a normal crypto users. That's why their country is continuously developing from time to time, how I wish that we also have that same government who values their economy.

[Twentyonepaylots]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

buying and selling bitcoin and other crypto currency is not a problem in my country. You can buy and sell directly using your atm card, not only that there are many other option for buying in my country even using remitances.
I hope it will also work with other country since it all working to us.

where do you live? It seems like your country is very friendly to cryptocurrency, in my country cryptocurrency is still difficult to be used as a means of payment, but to be an asset the crypto currency is already registered with the government

Guess that's here in the Philippines. The government is fine with bitcoin and most cryptocurrencies to operate. It's just that we've been recently hit by a scam by on of our fellows which could possibly tarnish it's reputation to the general public. But as what I have mentioned, our government is fine with it. It's easily accesible on ours and some banks that are in the country partnered with bitcoin to manage your funds easier and faster than ever.

But if it's not Philippines then I would guess it's a country in the southeast asia. Regulations are surprisingly high in our region.

[USBitcoinServices.Com]

I was one of the people who got excited about this project. The first days where people are trying to address this idea were the days the Cryptocurrency industry was booming. People are getting excited to make it work in the real world. However, this one idea caused banks and the government to notice the potential disruption and threat to their businesses.

Since cryptocurrencies are generally decentralized, Bank has no chance to control or take advantage of the market. So they need to call the people who let them do business which is the government. They will be distrupted, the business and the taxation. Everything would make the wolves and lions angry.

Crypto was booming a few years ago and still growing every day, sometimes slow sometimes fast.
As many of us know the halving will occur this May 2020 and the price will go high as a result of halving, we don't know for sure when it will hit ATH, but history has shown that after 1 or 1 and a half year the price goes up. That event itself will make more people and governments to pay more attention and get engaged with blockchain.

[shield132]

I don't have list of countries where you can buy bitcoin via banks officially but this is what they do mostly: Some banks own electronic wallet companies (Similar of webmoney, yandex kiwi and etc) and in some countries there is no crypto regulation and such wallets can easily accept bitcoin and altcoin payments. When banks own those companies too, they can offer you all of bank services, their wallet just keeps exchange/hold feature, once you exchange btc into USD or local currency, you can withdraw that money with 0 commission on your bank's account instantly and then do whatever you want. Also terminals and ATMs of these bank's allows you to buy bitcoin with cash and withdraw bitcoins with your bank's card (converts btc into local currency automatically).

[tbterryboy]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

Yes you’re right. I have read news about it that they will soon start selling cryptocurrency to people. But I don’t know if they have started offering cryptocurrency for sale. According to the news there have been some who are against the idea. I am looking forward to other countries doing the same, they should start allowing people to buy and sell cryptocurrency using banks, that will be really cool and will help in the adoption.

Although before this time, I have seen a lot of e-banking platforms that have been allowing people to make use of cryptocurrency and even buy and sell it at anytime. Banks such as Wirex, located in the UK, has been doing that for long.

[Yatsan]

Here in the Philippines, the bitcoin is doing great here! We have a local bitcoin exchange that almost covers all of the needs of every user. You can buy prepaid load, pay bills, transfer to the bank, and many more. We are using it here, and our government approves it. Buying and selling of bitcoin at our local exchange which is coins.ph is also effortless! You can even buy bitcoin here using 7/11. Transferring to a bank is instant, and I think it's almost supported all of the banks here in the Philippines.

It's not a bank supporting crypto, but this local exchange of us is excellent, and I think it is giving all of its user needs.

[Bohxz M4p4gm4h4l25]

Here in the Philippines, the bitcoin is doing great here! We have a local bitcoin exchange that almost covers all of the needs of every user. You can buy prepaid load, pay bills, transfer to the bank, and many more. We are using it here, and our government approves it. Buying and selling of bitcoin at our local exchange which is coins.ph is also effortless! You can even buy bitcoin here using 7/11. Transferring to a bank is instant, and I think it's almost supported all of the banks here in the Philippines.

It's not a bank supporting crypto, but this local exchange of us is excellent, and I think it is giving all of its user needs.

This was right I don't think everything will be dependent on Banks. More often it is all about the value that our local exchanger gave to us. I don't think there are another exchanger here that can beat Coins.ph. This primarily one of the reason why it is widely accepted here because it was easy to access.
If these will be apply to other foreign exchanger wherein it covers all the basic needs of the people like paying bills and buying load bitcoin can easily be adopted.

[Ridwan Fauzi]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

That will be positive for other countries who still believe that cryptocurrency is something that should be avoided by its citizen. But, they should know the improvement against technology the citizen will quickly accept rather than wait for an advice from the government. That has happened in all country especially for those who still reluctant to accept the using of them.

As an example in my country, the government still not allowed to buy cryptocurrency with bank account, but do you know there are many platforms who provide to do these thing easily. Such as the developer A created a platform for intention to buy some stuff (such as wallet) so the people will be easy to buy everything through their smartphone.

But now, the platform has been accepting bitcoin and some altcoin to make a deposit and otherwise the use can easily buy bitcoin and some altcoin through the platform with a low fee. This is pointed out the government was wrong to keep their regulation. So, this time is the right time to allowed buying-selling cryptocurrency with their bank account because they will get profit as well.

[The Sceptical Chymist]

Though we are generally wary about banks getting into cryptocurrency I am still considering this as a good news because this can help this industry spread to as many people as possible.

I'd definitely be wary--if a bank sells you bitcoin, you can be sure they're tracking where you send it, just like Coinbase does.  And although they might not be able to determine who the recipient is or whether the coins were used for anything shady, who knows what the banks would do with that information.  On the other hand, if you have a bank account they can track everything you spend your money on anyway, so it's probably not that big a deal.

Personally I'd like to be able to purchase crypto for cash without having to resort to an exchange.  It was so nice when Circle was providing that service, even though that's just about the same as buying bitcoin from a bank.  I have a feeling that these kinds of services aren't going to become widespread in the US anytime soon, but we'll see how it works out in the countries where banks are starting to do this.

One thing I wonder is whether banks are going to keep bitcoin on hand or whether they're going to act as a third party, just buying it from wherever when a customer wants to buy it from them.  I don't think there's enough bitcoin in existence to allow banks to buy it in anticipation of customer orders, nor do I think they'd want to bear the risk of keeping a volatile asset like bitcoin on their books.

[jostorres]

I didn't know Philippines was like that when it comes to crypto, I wish there were more places like that in the whole world. If we had one company in every nation (one each, not one for all) that basically does exactly what you say you guys have, bitcoin would be adopted so much that we would be basically living in a crypto world.

I don't need to even spend it on everywhere, all we would need could be just bills and meals, that is literally it. If I can spend money on cafe's and movies and whatever in fiat I would be fine with that, as long as I can spend my crypto on paying the bills plus buying the grocery food stuff, that would be more than 50% of my all expenses covered in bitcoin. Giving people around the world chance to spend 50% of their expenses in bitcoin would increase adoption like crazy.

[o48o]

German is so far ahead from Finland in cryptos, which is funny because we are both EU countries and our approach should be at least somewhat similar on this. Bank that i am using just banned while ago their employees to invest in cryptocurrencies. This makes no sense what so ever because buying bitcoin is totally legal in here. I have been thinking of moving at least my address to some other country. I am just waiting to see how things are balancing out on other countries as well, because Finland used to be very crypto-friendly as well.

[Saisher]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

Philippines is one of them they allow people to buy Cryptocurrency though indirectly, they will have to deposit funds to their coins.ph account this is a local exchange, using bank that are their partners after you deposit you can buy Cryptocurrency and you can also sell your Cryptocurrency and withdraw it using your favorite local bank.

[Blackdeath]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

I know that US and Japan can now legally buy and sell cryptos at their commercial centralized banks because i heard that they already have bitcoin atm machines in both countries. I am also hoping mot only in those countries will crypto became legal because i really wanted for my country to legalize cryptocurrency, so that i will not have problems in converting my cryptos into fiat and vice versa.

[bitcoinst]

To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.
It seems that the banks simply decided to stick their intermediary services here.

However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.

I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.

[iv4n]

To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.
It seems that the banks simply decided to stick their intermediary services here.

However, this is an unambiguous plus, because due to the fact that the banks themselves will offer the purchase of bitcoin through their services, ordinary people can safely invest in bitcoin and cryptocurrencies.
In particular, in this way, banks increase the credibility of cryptocurrencies on the part of the general population.

I will not be surprised if in the future there will be deposits allowing you to buy bitcoin at a percentage or take on credit.
How this will be realized is of course a big question, but banks will certainly not lose their profits.

Bottom line is that banks and governments can't stop people from using bitcoins! Some tried to that, some are still trying, we read about that in news, but actually they are not doing anything significant.
In this way banks decided to take earn something from people who wish to buy trough them. Blockchain is making a revolution in the global economy. DAO (decentralized autonomous organization), DeFi (decentralized finance) are just some new things that blockchain is bringing on the table, it will be interesting to see what will banks do and how will they adapt on this. In one thing I am sure, not all of them will be able to adapt.

[vintages]

To be honest, I do not quite understand what is the illegality of buying cryptocurrency on ordinary exchanges.

There is no illegality there. I feel why most banks wants to implement bitcoin into their system is because they thinks they are missing out. Compare to now and when bitcoin started out, alot of people are moving away from saving in the bank to hodling their funds in cryptocurreny for the future. People want to have control of their funds; I mean, who wouldn't want to?
Since they can't beat or stop digital currency, particularly Bitcoin; they have to join it. It's for the best.
But also, let's hope they won't put too many restrictions on those who will be banking with their cryptocureny.

[redsun114]

Banks in Germany started to allow people to buy and sell cryptocurrencies this January 2020. I think other countries will do the same soon, Japan might be another country with such services. In the beginning, someone has to start something so others can follow suit.  

What are the other countries where anyone legally can buy/sell cryptos at commercial centralized banks?

Read this news like so many times and Every time I keep doing my research to see if any bank in Germany has already started offering cryptocurrency services, but it seems like none of them has taken up with that. I only see the same news about the new law that was implemented and it says that banks may start offering such services, so it’s probably a matter of choice and none of them has started yet. Maybe they are all waiting for who would do it first and when the first goes, others will follow.

It’s quite good that they have passed such a law, but banks should be fast with it and I look forward to other countries doing the same.

[FlightyPouch]

Philippines is one of them they allow people to buy Cryptocurrency though indirectly, they will have to deposit funds to their coins.ph account this is a local exchange, using bank that are their partners after you deposit you can buy Cryptocurrency and you can also sell your Cryptocurrency and withdraw it using your favorite local bank.

As you said, it is done indirectly since banks here in our country don't really let you buy bitcoin or any other crypto currencies directly. It is through an excxhange, coins.ph that is why we can transact or buy bitcoin. I don't know when will they consider buying or selling bitcoin or other crypto currencies since for now, I see that impossible to happen.

[TIDOVEE]

I have always thought banks will still be of useful advantage to cryptocurrency and to the fact that we may not need to have them totally eliminated for cryptocurrency, they can have a way of working hand in hand with each other to satisfy the users, China would have been my next suspected country but the coronavirus infection may take them little time to gain balance.

[iamsheikhadil]

I am not surprised to see European countries to legalize crypto. Japan was always expected. My eyes are on China. If it does the same, a tremendous pressure will be created on its competitors relating to bitcoin and crypto in general.