[2020-03-20] Private Italian Bank Enables Bitcoin Trading To Its 1.2 Million...

[bL4nkcode]

Private Italian Bank Enables Bitcoin Trading To Its 1.2 Million Customers

The latest Bitcoin adoption news came from one of the oldest Italian banks – Banca Sella. The bank launched a Bitcoin trading service conducted on its platform called Hype. The beta testing should be done within the next few days, and the service will be online for all customers.

Source: CryptoPotato

First, they ignore you, then they laugh at you, then, what they joined you..

[LeGaulois]

The neobank (hype.it) just partnered with another platform Conio.com so it's like a middleman. Better than nothing but we're still far to see the banks managing by themselves keys, wallets, etc.

1% for every purchase and sale, wow! compared to the 0.20% average we are used to seeing... The Bitcoin adoption has a high price

[bbc.reporter]

Looks like rushed product/service since most likely they're trying to take advantage of COVID-19, i hope their customer service/support will be helpful (especially to new Bitcoiner) since many company's customer service/support become worse due to COVID-19.

Agreed. The skeptical me is thinking that this might be one of many exit mechanisms created for the wealthy and the dirty money to escape capital controls from their country.

[Harlot]

First, they ignore you, then they laugh at you, then, what they joined you..

You can't really generalize banks on the negative opinion of some banks in the crypto industry. I know that banks such as Wells Fargo, Bank of America, and JP Morgan have some negative things to say about Bitcoin but it's only their opinion and they are not speaking for the other banking companies we have, just by searching Banca Sella in Google you will see that they don't have any reported news about them having negative views to Bitcoin. As for the news their opening of such service is really timely especially if you think that a lot of people are now pushing for a lot of none contact activities so maybe Italians have a decent chance on being open to such crypto trading as well as the usage of Bitcoin in there daily transactions.

[NeuroticFish]

The latest Bitcoin adoption news came from one of the oldest Italian banks – Banca Sella.

It may worth mentioning that this info was already posted 2020-03-18, just not in press 

[bbc.reporter]

Also, why is there a need to treat this similar to a religion? The bank did not join anything. The bank only enabled trading for their customers. We will never see the bank rally like religious fanatics hehehe.

Good news for bitcoin, however.

[cr1776]

Looks like rushed product/service since most likely they're trying to take advantage of COVID-19, i hope their customer service/support will be helpful (especially to new Bitcoiner) since many company's customer service/support become worse due to COVID-19.

Agreed. The skeptical me is thinking that this might be one of many exit mechanisms created for the wealthy and the dirty money to escape capital controls from their country.

Giving people the power to escape capital controls is a good thing so that when the powerful and elite screw things up and then attempt to force everyone else to pay for it, there is an escape hatch. 

Politicians like to have mandates and controls without thinking of the consequences.  Things like requiring banks to issue loans to non qualified borrowers etc. Cyprus with its disastrous haircuts to accounts about 7 years ago etc.

[hugeblack]

I don't think the main goal of this service is to embrace Blockchain technology as they claim "by introducing the young and intelligent people who are increasingly expecting access" but trying to take advantage of the consequences of COVID-19 by keeping more cache in their vaults.

They allow buying, selling currencies, and services via a third party and thus attract more currencies.

I don’t know how people who can trust a third party offer a wallet?

[malevolent]

The neobank (hype.it) just partnered with another platform Conio.com so it's like a middleman. Better than nothing but we're still far to see the banks managing by themselves keys, wallets, etc.

1% for every purchase and sale, wow! compared to the 0.20% average we are used to seeing... The Bitcoin adoption has a high price

That's high compared to a normal exchange, but compared to Coinbase where tons (millions?) of people paid 1.5-4% or more to buy or sell bitcoins, it's not that much to pay for convenience. If we want global adoption it must be easy for people to exchange fiat money for BTC. Exchanges tend to be worse than banks with onerous and time-consuming KYC and verification, and similar nonsense, the less friction there is, the better.

[bbc.reporter]

Looks like rushed product/service since most likely they're trying to take advantage of COVID-19, i hope their customer service/support will be helpful (especially to new Bitcoiner) since many company's customer service/support become worse due to COVID-19.

Agreed. The skeptical me is thinking that this might be one of many exit mechanisms created for the wealthy and the dirty money to escape capital controls from their country.

Giving people the power to escape capital controls is a good thing so that when the powerful and elite screw things up and then attempt to force everyone else to pay for it, there is an escape hatch. 

Politicians like to have mandates and controls without thinking of the consequences.  Things like requiring banks to issue loans to non qualified borrowers etc. Cyprus with its disastrous haircuts to accounts about 7 years ago etc.

Agreed, that is good. However, it is not really for the people. It is for the bank's wealthy friends, criminal syndicates and politicians. Everyone should always be skeptical of the banks. They are not there for you. They are part of the mechanism to control you.