Without banks, is it possible to move physical currencies to Crypto?

[Josefjix]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

[bL4nkcode]

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes, we called them e-wallets or some say digital wallets. Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets. Others use remittances to transfer funds to crypto exchange, at least at coins.ph and any local exchange based on my country it's possible.

Btw this topic doesn't belong to the services board, bitcoin discussion or service discussion suits this one.

[noorman0]

There is no other way, you have to find a crypto holder in your closest environment so you can buy it with physical currencies or items that you might sell. Basically, crypto transfer activities also require fees as miner's rewards. If your reason is to avoid any fees, it is not possible.

_snip_ Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets.

How do I top up my e-wallet balance for the first time?

[Josefjix]

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes, we called them e-wallets or some say digital wallets. Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets. Others use remittances to transfer funds to crypto exchange, at least at coins.ph and any local exchange based on my country it's possible.

Btw this topic doesn't belong to the services board, bitcoin discussion or service discussion suits this one.

Alright, this banks charges actually trended in my country yesterday for debiting customers heavily for what they call Stamp duty and there is no mass adaption of cryptocurrencies here yet.

This is almost $7 which is not possible for you to save your physical currencies in crypto.

[noormcs5]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Most of the bitcoin user including me like to keep the funds in bitcoin to avoid the unnecessary bank charges on fiat money.
If you want to convert your fiat in to crypto, you can have a deal with anyone in your area in person. You give him cash and in return he send you bitcoins on your wallet.
Another option is that you convert your money from bank to bitcoins by sending the money through bank to the person with whom you are buying the bitcoins. Normally banks do not charge money for withdrawal of money if the money is under certain limits (Daily withdrawal limit). However it depends upon your country rules and regulations.

P.S Please move this thread to bitcoin discussion. Thanks

[Josefjix]

There is no other way, you have to find a crypto holder in your closest environment so you can buy it with physical currencies or items that you might sell. Basically, crypto transfer activities also require fees as miner's rewards. If your reason is to avoid any fees, it is not possible.

Thee main question is not to entirely avoid transaction fees. The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?

Beside, you must Definitely pay for every transaction happening on the blockchain network which is very certain.

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Most of the bitcoin user including me like to keep the funds in bitcoin to avoid the unnecessary bank charges on fiat money.
If you want to convert your fiat in to crypto, you can have a deal with anyone in your area in person. You give him cash and in return he send you bitcoins on your wallet.
Another option is that you convert your money from bank to bitcoins by sending the money through bank to the person with whom you are buying the bitcoins. Normally banks do not charge money for withdrawal of money if the money is under certain limits (Daily withdrawal limit). However it depends upon your country rules and regulations.

P.S Please move this thread to bitcoin discussion. Thanks

Thanks for this explicit explanation. I've moved it to the right section.

[moderator's note: consecutive posts merged]

[noorman0]

_snip_
The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?

Do you understand the history of physical currencies?
Banks are absolutely inevitable as long as you use physical currency, if crypto wins this war completely. You will not ask how to convert it because physical money is no longer used.
I will not call this a war, but a transition to more sophisticated and efficient technology. In fact, banks can also adopt blockchain technology.

[Woodie]

Of course, you could choose to use use a bitcoin ATM which you can use to buy your crypto using fiat(physical currency) or you can find a trader in your area via peer to peer platforms like localbitcoins.com which also offers plenty of  other options including your local payment systems.

[FatFork]

Banks are absolutely inevitable as long as you use physical currency, if crypto wins this war completely. You will not ask how to convert it because physical money is no longer used.
I will not call this a war, but a transition to more sophisticated and efficient technology. In fact, banks can also adopt blockchain technology.

Of course, banks will adopt blockchain technology over time. But even if (when) we transition to more advanced and efficient technology I doubt we will completely kick the banking institution out of the system. Banks will, as always, find their niche - savings, lending, financial management ...

[Josefjix]

Of course, you could choose to use use a bitcoin ATM which you can use to buy your crypto using fiat(physical currency) or you can find a trader in your area via peer to peer platforms like localbitcoins.com which also offers plenty of  other options including your local payment systems.

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

[Woodie]

Of course, you could choose to use use a bitcoin ATM which you can use to buy your crypto using fiat(physical currency) or you can find a trader in your area via peer to peer platforms like localbitcoins.com which also offers plenty of  other options including your local payment systems.

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

I guess not   you will be left with the option to meet your traders in-person which others have pointed to be risky just opt to meet in public places.

[FatFork]

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

Well, you can also meet with the seller physically and exchange currencies ‘live’. To avoid the possibility of robbery, it is best to meet in public places like coffee shops, office building lobbies, airports, subway stations, etc.

[joniboini]

Yes, we called them e-wallets or some say digital wallets. Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets. Others use remittances to transfer funds to crypto exchange, at least at coins.ph and any local exchange based on my country it's possible.

I think these e-wallets are extension of banks though. They're essentially keeping the money for you just like banks, and still need bank connection to works. I like to call them 'mobile bank'.

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

Technically not possible, but that's just because the options we have are limited right now. If people start accepting digital currencies such as USDT maybe you don't have to use your bank account at all. Or you can do face to face deal as mentioned, but this would be so limited and impractical to do.

[Josefjix]

Yes, we called them e-wallets or some say digital wallets. Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets. Others use remittances to transfer funds to crypto exchange, at least at coins.ph and any local exchange based on my country it's possible.

I think these e-wallets are extension of banks though. They're essentially keeping the money for you just like banks, and still need bank connection to works. I like to call them 'mobile bank'.

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

Technically not possible, but that's just because the options we have are limited right now. If people start accepting digital currencies such as USDT maybe you don't have to use your bank account at all. Or you can do face to face deal as mentioned, but this would be so limited and impractical to do.

Finally someone who understands my point is here. It means technically Banks can't be defeated Permanently,  because even if physical transaction is to be carried out in exchange for digital asset like Bitcoin and other cryptocurrencies, you still need a banking note( physical Money).

 So we still need to develop more blockchain networks that would completely eliminate the banking sector.

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

Well, you can also meet with the seller physically and exchange currencies ‘live’. To avoid the possibility of robbery, it is best to meet in public places like coffee shops, office building lobbies, airports, subway stations, etc.

The physical note is still from the bank. So, we are not still defeating the bank industry.

[moderator's note: consecutive posts merged]

[Mttewndew]

To purchase cryptocurrency, you need a digital fiat. Digital fiat inevitably goes through bank accounts and is stored on them. No matter how you want to avoid this, the bank will be involved in the process.

However, you can just give fiat to some person who has a certain amount of cryptocurrency, who in turn will transfer this very cryptocurrency to you in the right amount. The bank will still be involved here, but these will be two parallel processes that are virtually unrelated to each other.

[noorman0]

Finally someone who understands my point is here. It means technically Banks can't be defeated Permanently,  because even if physical transaction is to be carried out in exchange for digital asset like Bitcoin and other cryptocurrencies, you still need a banking note( physical Money).

So we still need to develop more blockchain networks that would completely eliminate the banking sector.

You are right. However, the state will protect the banks that issue fiat. Countries in the world will not let fiat currencies as their country's identity be replaced. If you call this a war, this is the same as fighting the country itself.

After all, why do you only want to get crypto with fiat? If you want to have crypto without going through a bank, you can start accepting crypto as part of the payment for services and sales of your goods (if it is not contrary to the laws in your country). It can also be applied by people all over the world to gradually want to eliminate the role of banks from life. Of course this is not instant but it is effective in reducing dependence on fiat currencies until it is no longer needed.

[Findingnemo]

We doesn't need banks for crypto transactions to be carried out, only we need fiat of banks for conversion so we have the blockchain technology but still we don't have merchants to accept cryptos that is why people keep converting their money into fiat for their usage.

[Josefjix]

Finally someone who understands my point is here. It means technically Banks can't be defeated Permanently,  because even if physical transaction is to be carried out in exchange for digital asset like Bitcoin and other cryptocurrencies, you still need a banking note( physical Money).

So we still need to develop more blockchain networks that would completely eliminate the banking sector.

You are right. However, the state will protect the banks that issue fiat. Countries in the world will not let fiat currencies as their country's identity be replaced. If you call this a war, this is the same as fighting the country itself.

After all, why do you only want to get crypto with fiat? If you want to have crypto without going through a bank, you can start accepting crypto as part of the payment for services and sales of your goods (if it is not contrary to the laws in your country). It can also be applied by people all over the world to gradually want to eliminate the role of banks from life. Of course this is not instant but it is effective in reducing dependence on fiat currencies until it is no longer needed.

I have learnt a lot from you today. It is good thing to start accepting payments through cryptocurrencies. There is no financial freedom as far as the USD is used as a tool in international marketing. Cases where just a $100 is worth N39000 in my country.

As long as crypto adoption is here, there is no limit to financial freedom, it is almost more secured than Banking with banks. I wanted offer a service for a client staying in the states, he literally didn't know how to use Bitcoin. I tried to explain to him it actually proved abortive.

We doesn't need banks for crypto transactions to be carried out, only we need fiat of banks for conversion so we have the blockchain technology but still we don't have merchants to accept cryptos that is why people keep converting their money into fiat for their usage.

Thanks for this great  quota input.

[moderator's note: consecutive posts merged]

[maydna]

Why cryptocurrency should defeat the bank if we can use the bank together, if crypto can work with the bank, that would be the perfect match between the physical money and digital money because people can choose what payment system they want to use. Besides that, I think not all people in the world will always want to use digital money or cryptocurrency. Imagine that person who doesn't know cryptocurrency or digital payment or e-wallets, and they will not use the other payment system except physical money or fiat.

But if you want to move your physical currencies, you still need the third party, whether it is a bank, local seller, or online seller, or whatever it is the name. Because physical money and digital money is different, but they work in the same concept. And whether you use the third party services, you need to pay the fee which will differ between each other.

[FatFork]

Why cryptocurrency should defeat the bank if we can use the bank together, if crypto can work with the bank, that would be the perfect match between the physical money and digital money because people can choose what payment system they want to use. Besides that, I think not all people in the world will always want to use digital money or cryptocurrency. Imagine that person who doesn't know cryptocurrency or digital payment or e-wallets, and they will not use the other payment system except physical money or fiat.

But if you want to move your physical currencies, you still need the third party, whether it is a bank, local seller, or online seller, or whatever it is the name. Because physical money and digital money is different, but they work in the same concept. And whether you use the third party services, you need to pay the fee which will differ between each other.

Finally someone with common sense. Banking institutions have been around since the first currencies were invented in some form or another. Maybe even before that as some form of protobanks.

OP, I don't know where you got the idea that we have to defeat the banking industry. If you do not want to deal with bank notes then simply do not accept fiat currency as a means of payment for goods or services you offer in the market. It's as simple as that!

[Mulann2]

Finally someone who understands my point is here. It means technically Banks can't be defeated Permanently,  because even if physical transaction is to be carried out in exchange for digital asset like Bitcoin and other cryptocurrencies, you still need a banking note( physical Money).

So we still need to develop more blockchain networks that would completely eliminate the banking sector.

You are right. However, the state will protect the banks that issue fiat. Countries in the world will not let fiat currencies as their country's identity be replaced. If you call this a war, this is the same as fighting the country itself.

After all, why do you only want to get crypto with fiat? If you want to have crypto without going through a bank, you can start accepting crypto as part of the payment for services and sales of your goods (if it is not contrary to the laws in your country). It can also be applied by people all over the world to gradually want to eliminate the role of banks from life. Of course this is not instant but it is effective in reducing dependence on fiat currencies until it is no longer needed.

I have learnt a lot from you today. It is good thing to start accepting payments through cryptocurrencies. There is no financial freedom as far as the USD is used as a tool in international marketing. Cases where just a $100 is worth N39000 in my country.

As long as crypto adoption is here, there is no limit to financial freedom, it is almost more secured than Banking with banks. I wanted offer a service for a client staying in the states, he literally didn't know how to use Bitcoin. I tried to explain to him it actually proved abortive.

Yeah after accepting payment through crypto you will still look for local exchanger to exchange to naira because as far as crypto acceptance is concerned only few merchants online can accept it, buying things from your local stores will require spending bank note (naira) which you can't do away with,
Probably if the naira was not devalued to this point by your government, $100 will equal N100. Between I don't know what is so bad in bank that everyone is against it, crypto is not free too with all the scams involved.

[YOSHIE]

is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

No, all crypto users "(must require a bank)" crypto and banknotes are among the fewest circulating at present, the most swollen electronic money and the most circulating worldwide.

For this reason:

For crypto users and physical money, if conducting transactions in general, he must be involved and play a role in the Bank and also the government concerned, the aim is that the relevant government and the Bank, can find out the exchange rate and how many transactions occur at the crypto exchange every day, in each country.
in this case to make it possible for the Bank, to find out information in transactions that are carried out by crypto users every day, so in this case the Bank is the initial step you have to find, can not pass through the bank, after that you have crypto / coins, just can do crypto transactions to crypto, for example: Bitcoin you do transactions with Bitcoin, without being involved with the Bank, it is called anonymous characteristics, or Bitcoin to the Bitcoin wallet and so on.

[Josefjix]

Finally someone who understands my point is here. It means technically Banks can't be defeated Permanently,  because even if physical transaction is to be carried out in exchange for digital asset like Bitcoin and other cryptocurrencies, you still need a banking note( physical Money).

So we still need to develop more blockchain networks that would completely eliminate the banking sector.

You are right. However, the state will protect the banks that issue fiat. Countries in the world will not let fiat currencies as their country's identity be replaced. If you call this a war, this is the same as fighting the country itself.

After all, why do you only want to get crypto with fiat? If you want to have crypto without going through a bank, you can start accepting crypto as part of the payment for services and sales of your goods (if it is not contrary to the laws in your country). It can also be applied by people all over the world to gradually want to eliminate the role of banks from life. Of course this is not instant but it is effective in reducing dependence on fiat currencies until it is no longer needed.

I have learnt a lot from you today. It is good thing to start accepting payments through cryptocurrencies. There is no financial freedom as far as the USD is used as a tool in international marketing. Cases where just a $100 is worth N39000 in my country.

As long as crypto adoption is here, there is no limit to financial freedom, it is almost more secured than Banking with banks. I wanted offer a service for a client staying in the states, he literally didn't know how to use Bitcoin. I tried to explain to him it actually proved abortive.

Yeah after accepting payment through crypto you will still look for local exchanger to exchange to naira because as far as crypto acceptance is concerned only few merchants online can accept it, buying things from your local stores will require spending bank note (naira) which you can't do away with,
Probably if the naira was not devalued to this point by your government, $100 will equal N100. Between I don't know what is so bad in bank that everyone is against it, crypto is not free too with all the scams involved.

Bank itself is a a scam.

[Kakmakr]

Oh yes... there are many ways to do that.... You can buy bitcoins from other people in face-to-face trades or over the Internet through a escrow service with other payment methods. (PayPal or trades for other goods or services)

You can also use Bitcoin vending machines, but they are hard to find these days. People are using Bitcoin ATM's lately and they have a bunch of KYC/AML requirements.

Why do you want to do it this way?

[Mulann2]

Finally someone who understands my point is here. It means technically Banks can't be defeated Permanently,  because even if physical transaction is to be carried out in exchange for digital asset like Bitcoin and other cryptocurrencies, you still need a banking note( physical Money).

So we still need to develop more blockchain networks that would completely eliminate the banking sector.

You are right. However, the state will protect the banks that issue fiat. Countries in the world will not let fiat currencies as their country's identity be replaced. If you call this a war, this is the same as fighting the country itself.

After all, why do you only want to get crypto with fiat? If you want to have crypto without going through a bank, you can start accepting crypto as part of the payment for services and sales of your goods (if it is not contrary to the laws in your country). It can also be applied by people all over the world to gradually want to eliminate the role of banks from life. Of course this is not instant but it is effective in reducing dependence on fiat currencies until it is no longer needed.

I have learnt a lot from you today. It is good thing to start accepting payments through cryptocurrencies. There is no financial freedom as far as the USD is used as a tool in international marketing. Cases where just a $100 is worth N39000 in my country.

As long as crypto adoption is here, there is no limit to financial freedom, it is almost more secured than Banking with banks. I wanted offer a service for a client staying in the states, he literally didn't know how to use Bitcoin. I tried to explain to him it actually proved abortive.

Yeah after accepting payment through crypto you will still look for local exchanger to exchange to naira because as far as crypto acceptance is concerned only few merchants online can accept it, buying things from your local stores will require spending bank note (naira) which you can't do away with,
Probably if the naira was not devalued to this point by your government, $100 will equal N100. Between I don't know what is so bad in bank that everyone is against it, crypto is not free too with all the scams involved.

Bank itself is a a scam.

Lol! Look around you, no matter how hard you try to sing the praise of crypto you can't change the fact that it involves the biggest scams ever known but it doesn't stop you from fantasizing about it,
banks have been in existence from generations, I bet the scams that have occurred in crypto within few years of existence can not be compared,
I am sure all your few naira notes are still in your bank account, don't denial it, between eliminating bank is a dream that may never come true so don't get your hopes up.

[Oasisman]

What I'm insinuating on is this; if the localbitcoins.com offers me a platform to buy Bitcoin directly I still need a bank OTP to be fully accessible and a Banking ATM. Got my question now?

Well, you can also meet with the seller physically and exchange currencies ‘live’. To avoid the possibility of robbery, it is best to meet in public places like coffee shops, office building lobbies, airports, subway stations, etc.

The physical note is still from the bank. So, we are not still defeating the bank industry.

In this case, there's no other way to completely eliminate the banking industry when you buy Bitcoin.
Bitcoin's value is equivalent to USD, and USD is a bank printed notes, and people will always opt to use fiat currency to buy essential goods, because Bitcoin hasn't been widely accepted globally as a payment method.

When a merchant accepts Bitcoin as a payment they will charge you with exact amount of Bitcoin equivalent to its USD price, not with the exact price in Bitcoin form.
Therefore Bitcoin's value is still dependent on USD, and again USD is a printed note by the bank. So, to relate and address your question, there is no way to by-pass the banks when you transact using crypto.

[FatFork]

Bank itself is a a scam.

Now you are making accusations without any evidence and I think we cannot generalize like that. While some banks may be fraudulent we cannot explicitly claim that banking systems are not useful and largely necessary in modern society.

[Josefjix]

Bank itself is a a scam.

Now you are making accusations without any evidence and I think we cannot generalize like that. While some banks may be fraudulent we cannot explicitly claim that banking systems are not useful and largely necessary in modern society.

It is all assumption and accusations, I could have said "some banks are ripping off of their customers".

[FatFork]

Bank itself is a a scam.

Now you are making accusations without any evidence and I think we cannot generalize like that. While some banks may be fraudulent we cannot explicitly claim that banking systems are not useful and largely necessary in modern society.

It is all assumption and accusations, I could have said "some banks are ripping off of their customers".

That is probably true and we are all aware of it. Explore the concept of ethical banking if you are interested.

[btc78]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

It is always possible because we have Electronic wallets in which allows us to Send our Fiat directly to Crypto exchanges.

Mind telling us from which country you from?because there are different availability depends from where we are.

In our Country it is very easy because we can just load up our wallet in 7/11 branches and convert it to bitcoin or other alts and can be directly use for exchange .

Anyway there is other posts above that you can follow from your side,so Welcome to Crypto world and Goodluck.

[Josefjix]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

It is always possible because we have Electronic wallets in which allows us to Send our Fiat directly to Crypto exchanges.

Mind telling us from which country you from?because there are different availability depends from where we are.

In our Country it is very easy because we can just load up our wallet in 7/11 branches and convert it to bitcoin or other alts and can be directly use for exchange .

Anyway there is other posts above that you can follow from your side,so Welcome to Crypto world and Goodluck.

I'm from  Nigeria.

[FatFork]

I'm from  Nigeria.

I hope you don't have a royal bloodline.

[Josefjix]

I'm from  Nigeria.

I hope you don't have a royal bloodline.

Lmao. What does this mean?

[LogitechMouse]

There are some apps that will allow you to convert your Physical currencies to crypto. It is like you will deposit your currency to that app and then it can be converted into crypto.

I don't think that some of these apps are related to banks so technically speaking, it is still possible. I don't use banks for a long time already either in withdrawing or depositing (especially this I don't want to deposit money in banks instead I'm more in investing it).

[gamer4156]

The bank is a government approved institution. Here a bank must be subject to VAT by the government of the country under which the bank is located. Due to which the charges of the banks go much later during the transaction of money. It covers the banking system of all countries. You can convert your cash into any online currency if you wish. The most trusted bitcoin, etherium, Bitcoin Cash etc. You can buy the currency you need from those who buy and sell Dollars if you want.

[davis196]

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes, we called them e-wallets or some say digital wallets. Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets. Others use remittances to transfer funds to crypto exchange, at least at coins.ph and any local exchange based on my country it's possible.

Btw this topic doesn't belong to the services board, bitcoin discussion or service discussion suits this one.

Yes,but you still need  bank account to fund and verify the e-wallet.
I remember that Paxful and Localbitcoins were offering Westen Union to BTC trades.
Other way I can think of is just buying some giftcard(Amazon,eBay,Google or Steam) and selling the giftcard for BTC on Paxful.The fees are awful,but at least you don't use a bank account for buying BTC.
In most cases,buying BTC without a bank account is more difficult and expensive,compared to buying BTC with credit/debit card or bank account,so it's not worth the effort.

[MCobian]

I can't think of a way to move physical currency to crypto without involving the bank. Because after all we really need the role of the bank.
Why in this case we have to get rid of banks, I prefer the idea of using banks and cryptocurrency side by side. Because it is a win-win solution,
what's more, my country's rules are difficult to conduct financial transactions without involving banks.

[hatshepsut93]

There are Bitcoin ATM's that allow you to buy coins for cash. I once saw an exchange that allowed customers to come to their office and trade for cash. Then there are many non-bank payment methods, even something like PayPal, but effectively they are centralized middlemen with many of the downsides of the banks - KYC, limits and other regulations, potential account freezes, etc.

There's also p2p trading, but it can be risky because there's always a chance you'll get robbed instead, there's plenty examples of it.

[bL4nkcode]

Yes,but you still need  bank account to fund and verify the e-wallet.

Well, at least here, no, verifying e-wallets doesn't required a bank account like what paypal do, though KYC is required.
And like what I said you can even buy bitcoin here using remittance but of course, partnered with a local exchange commonly used here in PH, coins.ph. A downside is their price is way too high compared to other local exchanges though the convenience is there. I'm referring to Gcash and Paymaya for e-wallets.

[Mpamaegbu]

The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?

I don't know of any war existing between them. I know both work hand in hand. While one is a concept (crypto), the other is a technology behind the concept (blockchain). Invariably, they work together.

OP, I am of the opinion that such isn't possible in the real sense of it. Even when you do e-wallet transfer, how are you going to spend the money? Remember that a lot of people don't know what Bitcoin is, let alone how to accept and use it. Also, there are countries with poor internet access or none at all. So, how are those ones going to work in a situation without banks?

[sayulita]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

You can always do a Meetup with people who deal in bitcoin and then five them cash and buy bitcoins from them or you can go to forums like this one and ask people to do physical trades with them and tell them what you want and discuss the terms and conditions first before initiating the trade. Also there is always a risk of getting scammed in these trades also so always ask for an escrow that you both trust, it can be hard to find in first trade but it will be worth it to do so.

[Bitstar_coin]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

You can always do a Meetup with people who deal in bitcoin and then five them cash and buy bitcoins from them or you can go to forums like this one and ask people to do physical trades with them and tell them what you want and discuss the terms and conditions first before initiating the trade. Also there is always a risk of getting scammed in these trades also so always ask for an escrow that you both trust, it can be hard to find in first trade but it will be worth it to do so.

I don't think a face to face meet up with people you don't know to trade is a good option especially Ina country where security is not their strongest point, I wouldn't recommend that at all, instead better use bank to transact regardless of the fees, you can't trust physical contact with people, you can get robbed in the process, looking for a trusted escrow can also be a problem.

[stiffbud]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

You can always do a Meetup with people who deal in bitcoin and then five them cash and buy bitcoins from them or you can go to forums like this one and ask people to do physical trades with them and tell them what you want and discuss the terms and conditions first before initiating the trade. Also there is always a risk of getting scammed in these trades also so always ask for an escrow that you both trust, it can be hard to find in first trade but it will be worth it to do so.

I don't think a face to face meet up with people you don't know to trade is a good option especially Ina country where security is not their strongest point, I wouldn't recommend that at all, instead better use bank to transact regardless of the fees, you can't trust physical contact with people, you can get robbed in the process, looking for a trusted escrow can also be a problem.

I also agree with you but in the process of using the banks there are high chances of your account getting blocked by the bank, there were many instances in which the account of the user was blocked by the bank and they didn't give any reason for doing so. This threatens many people who are also doing transactions in bitcoin. I like to do person to person trades with the people on the exchanges because then the bank won't disable my account because they will think that I am just sending the money to another person through my bank account.

[Anonylz]

It is very hard to move funds in crypto without the banks involved, doing a person to person trade like was suggested by a member above could be a sure way but possess a high risk, imagine if you are buying 2 or 5 btc worth, you are literally carrying a huge sum of money in your wallet which is very risky,  and you have to trust the buyer or seller enough to agree to such trade, otherwise, one party can easily set the other up with bad guys to rob him, bank is still a better and safest option imo.

[Fainjusly60]

You can do this if you trade in cash or sell some products to buy cryptocurrencies, it is profitable and you may be able to achieve more profits if you ignore the taxes that may be imposed on you.
Banks facilitate things and methods vary from country to country, but some countries, and by using your bank account, you can buy cryptocurrencies easily and in less than 24 hours.
it is up to buy but it possible.

[noorman0]

I also agree with you but in the process of using the banks there are high chances of your account getting blocked by the bank, there were many instances in which the account of the user was blocked by the bank and they didn't give any reason for doing so. This threatens many people who are also doing transactions in bitcoin.

Can you give an example case? I have never heard that a local bank can block someone's account without a reason. Every customer has legal protection. Local banks won't be as easy to block as exchanges or other anonymous services because they are in different jurisdictions and you probably won't sue them for financial reasons.

I like to do person to person trades with the people on the exchanges because then the bank won't disable my account because they will think that I am just sending the money to another person through my bank account.

Your reason contains a contradiction with your first statement. As far as you think, why would the bank block the customer's account to buy crypto while the bank considers the customer to only send money to other people like you said? If the bank can track the intention of sending money, then your account can also be blocked.

[Twentyonepaylots]

There are some apps that will allow you to convert your Physical currencies to crypto. It is like you will deposit your currency to that app and then it can be converted into crypto.

Yep, there are wallets that is ready to serve as your wallet where you can just convert fiat into crypto, vice versa. I have a wallet called coins.ph, this is the most trusted wallet in our country where you can buy load, bills and do a bank transfer with a wide variety of banks. It looks really cool for an application to have these features but, I personally don't use crypto to buy or pay anything on the internet, as much as possible I want it to be done using fiat. Anyone with me?

I don't think that some of these apps are related to banks so technically speaking, it is still possible. I don't use banks for a long time already either in withdrawing or depositing (especially this I don't want to deposit money in banks instead I'm more in investing it).

I think it still depends in the country if they are open with cryptocurrencies, all this should be tracked by the central bank of course. I have my bank and an online wallet for cryptocurrencies, we would not know what's going to be needed, so I have both of 'em.

[hahay]

It's possible and still can be done, if you have friends then that can also be the main solution I guess, because even if you use any of the services available at least it will go through the bank even if it's done digitally. So, when you have a friend who holds crypto, you can get it by exchanging it for physical money and I think it will also be difficult if the transaction is large.

[Ryker1]

Well, that is possible, --you can buy or sell crypto without any bank transaction.
As they say on the first page of this thread that e-wallet are now very common or let say mobile bank wallet. because you can buy crypto through your app and pay into any remittance centers that available tied up service on the e-wallet app. Another option is bitcoin ATM, you can buy bitcoin through ATM without any banks involved. Indeed, this what they called, buying crypto in an anonymous way.

[Cointikka]

Yes, it is possible..

There are two possible ways.

1. Over the counter transactions
2. P2P payment.

localcrypto and localbitcoin website provides both these services. When Indian Banks banned crypto transactions, local crypto exchanges provided P2P services to all their users.

[htsy585]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

It is very much possible to get into cryptocurrency without the involvement of banks. Here in African, we have lots of merchants and businessmen who accepts raw cash in return for Bitcoin or other major cryptocurrency for a relatively small charges that seems insignificant especially when you are to purchase little amount of crypto. I'm sure the merchants will one way or the other go through bank to get back into crypto but that's left to them

[fiulpro]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes ofcourse , if you do the payment in cash and receive Bitcoins through any seller instantly , you can very easily do that , but at the same time you have to understand that you need to be very careful with it since, it takes some time for the Bitcoins to be transferred from the sender to the receiver and therefore it would mean you will have to wait for a while .

There are actually options like this on various sites , eg. Local Bitcoins !

You can even make a local community , like the people you know who do trade Bitcoins and other cryptocurrencies , friends , family members etc , make a group with them and you guys can literally buy/sell sometimes without needing any middle man , you will save up money of the fee and also might help others to know more about Bitcoins.

You can even sell services and ask for the payment in Bitcoins , this way you are indirectly getting paid in cryptocurrencies.

When all of this fails you can try softwares which blends your addresses , this way you cannot actually track the Bitcoins to any particular wallet . So considering you wanna play safe , you can even do that .

[Gaaara]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

There are some digital wallets that has a feature that let you deposit physical currencies then you can convert it after, some offers it free while others has a conversion free rate. I don't know why but some has an issue regarding e-wallet or online wallets but some of them are actually quite nice and offers some features that other wallet doesn't.

[Rengga Jati]

Thee main question is not to entirely avoid transaction fees. The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?

It may be different for each country where there are rules and regulations that we cannot avoid. As in my country, the crypto is legal to be a digital asset only, but not for payment. In this case, it relates to the involvement of banks in the crypto world is still high. We can say that they still have big power because backed by the government. But it may be different if the country has legalized crypto as asset and also payment. The government may give space to crypto to grow very well.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

For now yes, there are some ways of converting our fiat to crypto without passing banks directly. Although it will always pass the bank account at the end.
Nowadays, besides fiat by banks and also the crypto world, there are also some choices of e-wallets or digital money. It is a cashless transaction. However, it may seem like not passing the banks., but in fact, it is still the involvement of banks when transferring.

So, it means that for now, it is  still very difficult to separate with banks

[bitbunnny]

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes it is possible, also for your anonymity you may check on local bitcoins. that can be executed with a peer-peer transaction and just to avoid any unnecessary charges.

I don't think that he asked for that. You ecplained the option to exchange Bitcoin in private, without any third party, although in case of localbitcoins that might as well be very risky. O think that he asked how to transfer fiat funds on exchanges without using bank.account or credit card. I don't think that there is the way to escape the banks this way or the other because of quite strict rules and laws on finances and financial services in almost every country.

[Sebas.tian]

Apart from those suggesting e-wallets, on table payment agents can also be another means you can buy your favourite cryptocurrency without getting the Banks involve. You just have to do the cash withdrawal from the Bank and head to nearby On table payment to obtain your desire cryptocurrency. As rightly said, e-wallets can be a good medium for this purpose than other means. I have always been a fan of on table payment and e-wallets.

[Traderbtcc]

The main question is not to entirely avoid transaction fees. The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?

Although we can move our physical money to Crypto exchanges via peer to peer with someone, or buying from a friend who wants to sell, or  you can move it through online e-wallets.
But I don't see any reason for crypto to fight against the banking sector , instead of fighting why can't they Co-exist together, it will be a perfect match the physical money and the digital money, and as long as you exchange your crypto to fiat in order to get something in your local area, the banking sector will always exist.

[stadus]

As long as there are businesses who are willing to bridge the transaction, it's even possible with remittance centers and other payment system, but of course with a charge as that's the nature of the business. It's not always bank to crypto exchanges and vice versa, we already have a lot of platforms now that are willing to adopt with crypto market.

[serjent05]

Most of the bitcoin user including me like to keep the funds in bitcoin to avoid the unnecessary bank charges on fiat money.
If you want to convert your fiat in to crypto, you can have a deal with anyone in your area in person. You give him cash and in return he send you bitcoins on your wallet.
Another option is that you convert your money from bank to bitcoins by sending the money through bank to the person with whom you are buying the bitcoins. Normally banks do not charge money for withdrawal of money if the money is under certain limits (Daily withdrawal limit). However it depends upon your country rules and regulations.

P.S Please move this thread to bitcoin discussion. Thanks

Third-party services like financial services platform help.  We can top up fiat currency to our e-wallet and buy Bitcoin with the help of their services.  Many local third party services are profiting from this service.  With the help of some local store (e.g. 7 eleven) and remittance services, we are able to top up fiat to the e-wallet provided by that service and buy Bitcoin. These third-party services also enable us to convert Bitcoin to fiat money without banks.

Coins.ph and rebit.ph are some of the local third party financial service platforms in my country that enable us to transact with Bitcoin even without a bank.

[Vatimins]

     Talking about physical currencies, which is fiat; the money we use in a day to day basis buying or exchanging for all the needs and wants that we consumers have or whatever you wanna call it, makes you/us already connected to banks since we use the money they release. But going with your logic, it is indeed possible. The only thing is though, is that while possible, the process will truly be painstakingly long. Wether you use the e-wallets that some mentioned or by meeting up with people you may or may barely know which is risky, you cannot exchange huge amounts in one go. You will still have to do it slowly and break the expected amount by bits because if not, you will be found out by the banks or government obviously and we can only expect bad things to happen after being found out by the government or banks that you are converting huge amounts of fiat into crypto. Specially in countries that hate even the thought of crypto currencies. Plus the problem that the prices may have probably changed dozens of times already going up or down by the time you finish converting your planned amount. This is just my point of view

[Emitdama]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

That depends on what you mean. You said cash and cash is physical money that you hold in your hands or physical wallets.
If you have some physical cash and you would like to move them into your cryptocurrency, then you will have to look for local exchanges that will accept the cash from you and then fund your cryptocurrency wallet with an equivalent amount.

But if you’re referring to fiat money that you have in your bank account, then you can just make use of an exchange/cryptocurrency wallet that will allow you to fund your account using your debit cards. Once you make the payment the gets sent to your wallet. BitPay allows people to fund their Bitcoin wallet using Visa or MasterCard cards.

[XCANA]

It is difficult to eliminate the relationship between banks and crypto when converting to both. There may be no way to separate the two, but you can avoid large transaction costs by using the services of a third party when deposit or withdrawing.

The thread isn't talking about the relationship between the two but means of moving funds that is: fiats to obtain cryptocurrency in the process. Personally, I used to buy my cryptocurrency through the online wallets and this method is the best method for me. I will encourage many others to try this medium for their safety. Also, there are physical vendors who buy or sell cryptocurrency without knowing their identities, accepting physical fiats for exchange in cryptocurrency.

[stiffbud]

I also agree with you but in the process of using the banks there are high chances of your account getting blocked by the bank, there were many instances in which the account of the user was blocked by the bank and they didn't give any reason for doing so. This threatens many people who are also doing transactions in bitcoin.

Can you give an example case? I have never heard that a local bank can block someone's account without a reason. Every customer has legal protection. Local banks won't be as easy to block as exchanges or other anonymous services because they are in different jurisdictions and you probably won't sue them for financial reasons.

I like to do person to person trades with the people on the exchanges because then the bank won't disable my account because they will think that I am just sending the money to another person through my bank account.

Your reason contains a contradiction with your first statement. As far as you think, why would the bank block the customer's account to buy crypto while the bank considers the customer to only send money to other people like you said? If the bank can track the intention of sending money, then your account can also be blocked.

Here is the link of the news article stating that the accounts were blocked by two banks and one resumed the services while other refused to do so.

https://news.bitcoin.com/banks-freeze-companys-accounts-after-owner-traded-on-localbitcoins/

So this surely shows us how banks are targeting people who are transacting in bitcoins and other cryptocurrencies. Isn't it the abuse of power that the banks are doing and showing us that who is still the boss. Even though the owner of the bank account did a p2p trade after which his bank accounts were frozen, but in ideal conditions there wouldn't be any way to filter a person doing a p2p trade for buying or selling bitcoins from other persons, is there any!!!???

[Debonaire217]

Individual transactions concerning the exchange between bitcoin and fiat are already considered a way to move funds from physical currencies to crypto.

But with bulk conversion, definitely, banks are a more efficient way to do it, I'm not saying it's impossible, people could exchange fiats to bitcoin even with huge volume physically, but imagine, if there's no bank, there will be no PayPal, or any financial institution that will make the conversion possible online.

[boissonnea]

You can do this without needing a bank, it's P2P cash money.
Any person anywhere in the world is want bitcoin and has equal value in money or
products that you can exchange currencies without the need for a broker bank.
you can deal using p2p sites that offer too many bitcoin to cash exchange without banks.

[pankowri]

I don't think so because each currency has their own characteristics and facilities to use. I also agree those who said that why would bank omitted? Bank is most important via for some work that can't be done in other ways perfectly. It will be great if physical and digital currencies used together then people can use by their choice and needs.

[n0ne]

As of now we've got more number of digital wallets, but these wallets can't be loaded without the integrated function of banks. So, the possibility to move physical currencies to crypto without the bank isn't possible. In the past localbitcoins had an option to make two persons meet at some specific location and exchange cash for bitcoin. Now that service too is stopped.

[Bitstar_coin]

You can do this without needing a bank, it's P2P cash money.
Any person anywhere in the world is want bitcoin and has equal value in money or
products that you can exchange currencies without the need for a broker bank.
you can deal using p2p sites that offer too many bitcoin to cash exchange without banks.

when that person ia within your location it is easy, but have thought of those outside your location? we are not even talking about the huge risk involve in carrying physical cash around, as much as we hate the idea of using the bank and wanting to boycott them they still plays a very significant role in our daily transactions, p2p has limitations and can't be rely upon for safety reasons.

[claire_lovely]

With P2P exchanges, banks aren't a required part of the transaction. Users can simply trade fiat directly to cryptocurrency.

[larus]

There are several good p2p exchanges in the internet. Use them to convert your cash into crypto

[shoreno]

I don't think so because each currency has their own characteristics and facilities to use.

i agree . if without banks we dont have a fiat but there are banks so we have a fiat and fiat has thier own characteristic like they have a certain value , they have physical form , they can be accepted or legal on many places , etc . so many ways to buy a crypto using a fiat or with the help of bank . on the other hand , crypto has also have thier own characteristics and that is they are digital and measured in units , we dont really need a bank if we have a crypto because we can spend the crypto right away

[LimLims]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes it's possible.
Many crypto wallets have this feature, where you can buy cryptos directly from FIAT money.
Else you can also buy from person to person, with local trades.
You can also give a look to paxful and Localbitcoins.com
Their you can find plenty of way to convert your FIAT or physical currencies to crypto.
Hope you understand and got some information from this OP.

[gabbie2010]

You can do this without needing a bank, it's P2P cash money.
Any person anywhere in the world is want bitcoin and has equal value in money or
products that you can exchange currencies without the need for a broker bank.
you can deal using p2p sites that offer too many bitcoin to cash exchange without banks.

A bank must be involved else how to do you transfer fund between P2P? definitely the bank will serve as middleman or third party that will facilitate the transfer of fiat from the account of the buyer to the seller while the latter sends equivalent value of the crypto to the buyer, irrespective of whether its P2P sites or not, except if you want to take the physical cash to the seller which is absolutely impossible considering the distance between them.

[mezzaluna]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

In a perfect scenario that would be possible but in most countries today, its highly unlikely. Banks are still playing a big role in this kind of system and having no banks would produce chaos since that would make developers or people who are within software development that is knowledgeable about Cryptocurrencies can make a scenario in which they can control the money over the Internet since money will come thru them first because there are no trusted banks.

[TedMosby]

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

of course, why not.
I saw many people only used a centralized digital wallet to store their money.
mostly young people who are using crypto but still under 18. I usually saw people like this in crypto groups on facebook.
well, actually it is undirectly passing the bank from the digital wallet company.

I can easily top up my digital wallet from a convenience store/mini market. and then send my money from the digital wallet to the exchange (or p2p exchange).

also, you can try to find people in your area. should be easy to find it in crypto groups on facebook.

[Swopon]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Most of the bitcoin users including me like to keep the funds in bitcoin to avoid the unnecessary bank charges on fiat money.
If you want to convert your fiat into crypto, you can have a deal with anyone in your area in person. You give him cash and in return, he sends you bitcoins on your wallet.
Another option is that you convert your money from bank to bitcoins by sending the money through the bank to the person with whom you are buying the bitcoins. Normally banks do not charge money for withdrawal of money if the money is under certain limits (Daily withdrawal limit). However, it depends on your country's rules and regulations.

P.S Please move this thread to bitcoin discussion. Thanks

Well said. I am from a third world country and our economy is not so big. There have many problems. Here, people deposit their money to the bank for prospective but sometimes banks went out with all capital. This is the most irritating thing for this area. Government rules and regulations are not strict enough to catch that culprit.

OP says about digital wallet or e-wallet. Yes, it is continuing in some countries through mobile banking. So it can be changed the bank funds to a digital wallet and people can use it for any sectors with minimum fees. Then physical currencies can be converted to crypto and the deal should be done via communication through Internet.

[w0lf0.]

There are various possibilities if you want to acquire cryptocurrences without going through central banks, for example my first bitcoin purchase was through a private user on localbitcoins.com, there are also various wallets that allow you to change fiat to crypto inside, a other choice can also be the various p2p exchanges which are interesting and allow you to maintain a certain privacy, good luck

[dificanovi]

as I know there is no other way, we have to send physical currency through a bank. if you go through another application to send physical money to crypto currency, of course we still have to deposit via bank.
If in an urgent case you want to deposit into bankless cryptocurrencies then you have to find someone who has ETH or Bitcoin to transfer to your crypto wallet after which you give him physical money.

[Dedewahyu]

it is possible that you do bitcoin transactions without using a bank, you can do P2P or buy them from your close friends with cash
if you use e-wallets, e-wallets also in my opinion are banks whose names are disguised
or you can also directly use bitcoin for payments at several online shops that accept bitcoin, it's simpler in my opinion without having to use a bank

[ololajulo]

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

Yes, we called them e-wallets or some say digital wallets. Even without a bank account, you can transfer fiat to crypto exchange that accepts deposits from these e-wallets. Others use remittances to transfer funds to crypto exchange, at least at coins.ph and any local exchange based on my country it's possible.

Btw this topic doesn't belong to the services board, bitcoin discussion or service discussion suits this one.

I dont think any of the processes you mentioned will elude the use of bank account. Most fiat transaction on-line will require bank account, If I dont know any you can help but Fiat lately is not built for transfer online without the use of bank. Remittance and other measure are even more risky than the banks, OTC can cater for the absence of bank if one can present cash but that is not also safe.

[bL4nkcode]

I dont think any of the processes you mentioned will elude the use of bank account. Most fiat transaction on-line will require bank account, If I dont know any you can help but Fiat lately is not built for transfer online without the use of bank. Remittance and other measure are even more risky than the banks, OTC can cater for the absence of bank if one can present cash but that is not also safe.

Wrong, seems like you knew much better than what other people are experiencing here.

As I said, it doesn't require you to link a bank account. Yet, you can transfer from this e-wallet to banks, withdraw to a remitance, deposit to a local stock exchange's platform, deposit to crypto exchange, pay bills and many more and that's vice versa. For more info you can search Gcash.

How do I top up my e-wallet balance for the first time?

Late respond, but let me answer that, here you can top up the e-wallet using hundred of remitances available here, using other e-wallets, 7-Eleven, also with mc/visa and banks but it's not necessary that bank acct is linked to the account or have the same info on the e-wallet's account.

[BlackFor3st]

It will always depend to the available resources of your country because if you cannot transfer to a certain cryto exchange without
using a bank account then it is not possible to move your physical currencies to crypto.

But in the other hand, the same to what other has replied to you it is possible as long as the crypto exchange will accept remittances
coming from the different remittances that is also available to your country. I am not so sure if there are other ways aside from remittances.

[Sebas.tian]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.

Just to second what you have said, finding a secure e-wallet seem to me a big deal because most of them in the market are just scam e-wallets. Sometime last year, a friend of mine used an e-wallet for send of funds on google play store and  eventually the funds went into the ashed and the file case still pending in court, don't trust these scam e-wallets.

[Josefjix]

It will always depend to the available resources of your country because if you cannot transfer to a certain cryto exchange without
using a bank account then it is not possible to move your physical currencies to crypto.

But in the other hand, the same to what other has replied to you it is possible as long as the crypto exchange will accept remittances
coming from the different remittances that is also available to your country. I am not so sure if there are other ways aside from remittances.

Remittances depend greatly on banks for functionalities, so it still doesn't invalidate banking sector in the Crypto sphere if we look it from the perspective of "Cryptocurrencies replacing the central banks". But I am 100% sure there are exchanges working tirelessly to fix this up, in a manner in which you can deposit physical cash directly to exchanges for trading. Perhaps opening of physical branches like banks...

[Chris Barth]

From the best of my knowledge, you can't move physical currencies to crypto without going through the bank. How do you even buy crypto? Isn't it with money? I mean the local currency... And how do you get the local currency ready to buy crypto, don't you have to do a deposit or something with the bank?

[Vaskiy]

Earlier we had the access to move physical currencies to bitcoin through localbitcoins. Later for regulatory needs it has been taken away. In this process one can't stay anonymous, this is possible on in-person trade. The buyer and seller agrees to meet at a place and exchange bitcoin for cash. This has got limitations. This is how banks usage was eliminated, and now scenario has changed with each and every transaction getting associated with banks.

[Darkelf11]

From the best of my knowledge, you can't move physical currencies to crypto without going through the bank. How do you even buy crypto? Isn't it with money? I mean the local currency... And how do you get the local currency ready to buy crypto, don't you have to do a deposit or something with the bank?

Like what others said, you can buy bitcoin through e-wallets such as coins.ph, paypal and much more. And yes we buy bitcoins with money, I know that banks is one of the producers of our money yet it is possible to move physical currencies to cryptocurrency without it but that doesn't mean that we are banishing banks from our life. The question asked is tranferring fiat into cryptocurrency which is really possible, but it also requires transaction fees like what other banks do.

[Chris Barth]

From the best of my knowledge, you can't move physical currencies to crypto without going through the bank. How do you even buy crypto? Isn't it with money? I mean the local currency... And how do you get the local currency ready to buy crypto, don't you have to do a deposit or something with the bank?

Like what others said, you can buy bitcoin through e-wallets such as coins.ph, paypal and much more. And yes we buy bitcoins with money, I know that banks is one of the producers of our money yet it is possible to move physical currencies to cryptocurrency without it but that doesn't mean that we are banishing banks from our life. The question asked is tranferring fiat into cryptocurrency which is really possible, but it also requires transaction fees like what other banks do.

Nope. You got an incomplete version of the question asked. The OP asked if it's possible without going through the bank. And to me, I still see the answer as a big 'NO'. You talked about PayPal. How do you get money into your PayPal account? Isn't it the deposit you made from the bank? ¯\_(ツ)_/¯. One way or the other, the bank is just init.

[aemma]

To be frank, this looks like a tough question because it is hard to bypass the bank, in one way or the other, you might pass through the bank. However, I think the easiest way is to look for a local crypto exchange in your location or country, you meet with the person in charge, send your cash to him and get your Bitcoin. But one of the shortcomings is, what is chances of meeting a local exchange with a physical shop and can you trust the person not to come after you, maybe to steal from you, taking into consideration that Bitcoin is very valuable.
This aspect of making crypto easily accessible is what made small online peer-to-peer exchanges to spring up, in this case, the online platform will link you with a seller, wherein they act as a intermediary, so you can see Indirectly, you are still going through the bank.

[fauzan123]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.

Indeed, in some countries ATMs have also been implemented so that we can get money with bitcoin, there are also several shops that provide payments with bitcoin. Hopefully other countries will also implement the same payment system as bitcoin so that bitcoin can become a growing volume that can make it an alternative payment method besides the payment method currently applied by various countries, of course this is not something that cannot be done in the future.

[qualitywork]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.

Indeed, in some countries ATMs have also been implemented so that we can get money with bitcoin, there are also several shops that provide payments with bitcoin. Hopefully other countries will also implement the same payment system as bitcoin so that bitcoin can become a growing volume that can make it an alternative payment method besides the payment method currently applied by various countries, of course this is not something that cannot be done in the future.

Yes that's true but the challenge over here is something to do with adoption of such technologies in densely populated Asian nation's which is a big market for crypto but apart from Singapore crypto is still taboo for government of ther asian nations which will make it difficult for such technologies to be implemented without any hassle in these nations.

[TimeTeller]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

In the present we have many e wallet that accpeting bitcoin not only the banks. We can now sell and buy bitcoin using the e wallet unlike in the past it very limited and its hard to finde trusted e wallet. The money transactions for now is easy and we have many choices.

Indeed, in some countries ATMs have also been implemented so that we can get money with bitcoin, there are also several shops that provide payments with bitcoin. Hopefully other countries will also implement the same payment system as bitcoin so that bitcoin can become a growing volume that can make it an alternative payment method besides the payment method currently applied by various countries, of course this is not something that cannot be done in the future.

Yes, some shops/convenience stores like 7-11 are accepting the btc transaction via 3rd party service provider.
And that means, you don't need your bank account to purchase crypto.
The number of merchants or local crypto websites is also increasing, so the purchase of btc or crypto is really now getting more reachable.

[senya-com]

Removing banks is at first turning bank holders' psychology into creating instead of getting rich. Whatever: USD, EUR, JPY, RUB, Golden coins, Bitcoins, ethereum... There is a problem with peoples lust for money, it doesn't matter which currency is on top of the day. So, bitcoin alone will never bring liberation from banks. Only mass psychological changes can reorganise current financial system. All other tools and currencies will just change the main players.

[carlisle1]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

I don't know in your country but in ours moving crypto Is easy as ABC 

we can Buy or purchase Crypto using our local wallet..HOW?

just buying load in 711 stores or those money transfer branches and after loading fiat we can just easily convert to bitcoin or Ethereum,ripple pr bitcoin cash.

then after converting then we will choose in which exchange we wanted to trade and how much we wanted to invest.

but it is very strict abount currencies that coming from gambling sites,things that bannable or locking of account.

[bayu7adi]

...is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

To exchange physical currency or FIAT into cryptocurrency without going through a bank, there must be a physical merchant who directly serves the transaction. It was the only way I could think of when absolutely no bank was involved in the transaction. What is certain is that as long as our fiat currency does not become a number on the smartphone screen, we will avoid bank lines.
We cannot say that e-wallets are not connected to the banking network, to deposit e-wallet balances, 95% + people will definitely use the banking system. If you feel you don't own a bank, then the e-wallet company you are using will at least use the banking system.

[lifeforcepools]

Of course. Using e-wallets and digital wallets.

[bryant.coleman]

Of course. Using e-wallets and digital wallets.

Even e-wallets and digital wallets needs to be backed up by bank accounts, right? Even with some of the stablecoins such as Tether (USDT) and USDC, the backup funds are being held in various bank accounts. You can reduce the interaction or interlinking with the banks, but in the end it is impossible to completely remove them. The only other option is to use physical cash. But it is neither safe, nor practical.

[Lorence.xD]

It is possible but the only way I know that fiat can be moved to crypto is buying the wallet that contains a fixed amount from a person. Applications that make fiat into an electronic money is an acceptable move too, applications that do that in my country doesn't need to be involved in banks like remittance centers. Some applications that I can think of is coins.ph, Gcash mobile wallet, Paymaya and Paypal. But in my experience P2P is the best because there isn't a lot of transaction fees involved.

[rodskee]

We have seen numerous times people complain about unsolicited charges by banks which is not almost possible in cryptocurrencies if you're to save your money on Bitcoin or any other valuable cryptocurrency.

It begs me to ask this question; is it possible for one to move physical currencies to Crypto exchanges without passing through the Bank?

In my Country our Local wallet supports any exchange transfer , also it stands as exchange but with limited currency accepted so at any chances we can transfer Fiat into crypto everytime as long as we are capable of transaction fees.

Or you can have crypto here in  forum from trusted members so there is no need to go through banking services.

[thirdprize]

_snip_
The war behind crypto and blockchain mainly is to eliminate the banking sector. If the war is won, How do we then move our physical currencies to Crypto exchanges?

Do you understand the history of physical currencies?
Banks are absolutely inevitable as long as you use physical currency, if crypto wins this war completely. You will not ask how to convert it because physical money is no longer used.
I will not call this a war, but a transition to more sophisticated and efficient technology. In fact, banks can also adopt blockchain technology.

If you use crypto then banks are inevitable as well.  We just call them exchanges at the moment.  Just as you don't carry your life savings around in your wallet, most people would rather leave their crypto in an exchange where they can't lose/forget their private keys.  As long as it is insured then that is the exchanges problem.  Whether it is Binance or the blockchain arm of Barclays, it will all be the same thing.  Don't some exchanges offer interest?

[SmokerFace]

You can buy crypto by exchange with those who hold it. You don't need a bank just to meet someone who owned crypto and give them cash.

Always remember never sent money until you're 100% satisfied.
Get reviews before exchange money online since there are many scammers here and waiting for your money to be scammed.