Banks offering investing in Bitcoin

[komisariatku]

You're probably overthinking it but just a little bit. Banks care first and foremost about profit, and this is what has led them to offer bitcoin trading and even custody services. They have seen that there is interest and a growing market and they want to participate in the market. Secondarily, I think they have also realised that what they were worried about at the beginning, the fact that bitcoin is something they cannot control, many people buy it and hold it in centralised entities, and they have decided to be one of those entities because then it is under their control, and not that of the client.

Oh right, I forgot that banks can be a centralized service to collect bitcoins in their wallets. Furthermore, they can use bitcoins for their own benefit, can provide loans to other consumers. Or maybe this is the bank's preparation to collect bitcoins and in the future there may be a bitcoin lending system carried out by the bank

But what is certain, after the bank rejected bitcoin, bitcoin continues to grow and the community is getting bigger so that it has fantastic value. They have realized that there are huge advantages in bitcoin, so they decided to adopt bitcoin. Of course all for profit and money

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[Peanutswar]

Even though they want to adopt the use of the bitcoin at the end there's a cons on it the chance of getting centralized its now become useless the essence of the bitcoin being a decentralized. Else they will act you can buy a bitcoin to them without any restrictions with the transactions or transferring of asset.

If you are a large whale investor chance of getting KYC for suspicious activity of transactions.

[Zlantann]

You're probably overthinking it but just a little bit. Banks care first and foremost about profit, and this is what has led them to offer bitcoin trading and even custody services. They have seen that there is interest and a growing market and they want to participate in the market. Secondarily, I think they have also realised that what they were worried about at the beginning, the fact that bitcoin is something they cannot control, many people buy it and hold it in centralised entities, and they have decided to be one of those entities because then it is under their control, and not that of the client.

The Bitcoin market is expanding every day and many people especially the youth are using and investing in the sector. Many centralized exchanges are introducing different services to these crypto users thereby attracting them to use their platforms. Before now the banks were ignorant of the profitability of offering these custody services because they underrated the crypto sector. Now, it is clear that they are losing out on the lucrative deals or services they can offer in the crypto industry. They have now woken up to offer similar services that exchanges give so that they can compete with these exchanges and gain some part of the crypto market. It is obvious that they are not driven by the love of the sector but by profits through bank charges, tax, and trading. Some of these banks are aware of next year's Bitcoin halving and they might also have plans to take advantage of it.

[Litzki1990]

People are not responding to their campaigns so maybe they are now suggesting to invest in bitcoins. Maybe there are some banks that have decided to accept Bitcoin. That is, as people used to deposit money with them, now if they want, people can deposit bitcoins with them. In this, the bank may take some part of the interest of the bitcoins deposited with them. And the deposited bitcoins they can invest in different projects that's why different banks can make such decisions.  But such initiatives by banks may not be successful as people invest in Bitcoin for a period of time. So I don't think people are going to keep bitcoins in the bank aside from thinking about investing in bitcoins for a long time.

[avikz]

Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

What do you guys think, should banks even be in 'the game'?

Banks are already in this game! Either in a positive way or in a negative way! They are not staying out of the game.

In some countries where Bitcoin is a legal tender or at least has a legal framework available, Banks are automatically added to the game. On the other side, my bank sends me a monthly newsletter email that always mentions Bitcoin in a very negative way, without fail!

But we all understand one fact, Banks can't control Bitcoin or the network. They are just trying to get themselves integrated with the ecosystem and earn some brokerage income along the way. I do not see a serious consequence unless these banks are jumping into the Bitcoin market with a backup of trillion dollars.

[Rabata]

Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

What do you guys think, should banks even be in 'the game'?

When no one can control bitcoin there is no option but to authorize it. Moreover, in a competitive business, everyone will want to move forward and those who are ahead will be more profitable. If banks are allowed to invest in Bitcoin, they must have a long-term plan. The government will also want to collect revenue from the public in a reliable way. That task can be done well through banks. Although some banks are already working with Bitcoin, most of the world's banks are deprived of that facility. However, it is certain that if Bitcoin is widely spread through the banking sector then it is somewhat to be controlled but impossible to completely control of it.

[Venik]

Banks may be in the game, but it doesn't mean I'm gonna use them. I always kept my Bitcoin in OWNR wallet with other coins, and I will keep doing that. I don't think that you'll be actually holding your coins if you'd buy them in banks. It's not better, or maybe even worse than holding them on exchanges.

[PeRo]

Since they couldn't suppress Bitcoin

They actually very easily could. Just block all transactions from crypto exchanges and monitor p2p transfers. But what would they gain from fighting Bitcoin? Bitcoin is not taking away their business. People are not paying with Bitcoin in stores. People are not using Bitcoin for loans. It's more profitable to take their share of Bitcoin pie by processing Bitcoin-related transactions.

Some overly cautious banks were banning Bitcoin-related transactions because they were afraid of dirty money. But it was just their miscalculation.

Don't you think they would already suppress it when they were spreading anti Bitcoin propaganda? I don't think blocking exchanges would be that simple and p2p transfers can't be easily monitored and controlled (plus everyone would switch to them in the case of blocking exchanges).

I see that people have different thoughts on the matter. The reason I was sceptic about this move is because the bank was offering investing to a company. Since the company must take to account Bitcoin purchase and selling, it is easy for the government to tax it. Yes, you are taxed even if you are personally gaining as someone said in the thread(I don't want to spam quotes) but that could be more easily avoided than with a company investing money.

Publicity and availability for Bitcoin is good - as at least half of users stated, but I guess everything comes with a cost.

[Lorence.xD]

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

You're probably overthinking it but just a little bit. Banks care first and foremost about profit, and this is what has led them to offer bitcoin trading and even custody services. They have seen that there is interest and a growing market and they want to participate in the market. Secondarily, I think they have also realised that what they were worried about at the beginning, the fact that bitcoin is something they cannot control, many people buy it and hold it in centralised entities, and they have decided to be one of those entities because then it is under their control, and not that of the client.

Exactly, of course they opened this project to aim for profits and benefits for them. They are aware of the convenience and opportunities Bitcoin could give to any individual so they tried to be opened as possible and welcome it in to the game. But I think it won't be long for them to give up this case since it would be too hard for them to handle a decentralized system maybe only thing they could do about it is to add fees and interest for their own good.

[bettercrypto]

Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

What do you guys think, should banks even be in 'the game'?

If that's what banks do now, it has both good and bad effects based on my opinion. Of course this is a point for our crypto enthusiasts because crypto adoptions are spreading, so are you talking about the country anyway?

And what is not good about that is of course, if that is accepted by the banks, Bitcoin will appear no different from their fiat because they will also ask you for the same requirements as the old fiat, second it is also possible to be imposed by That's really a tax, not even directly from the government but the banks themselves can do it because they themselves are the ones who are taxed.

[flyingcarpet]

Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

What do you guys think, should banks even be in 'the game'?

From the very beginning, governments wanted to tax those who invested in bitcoin through banks. They are making arrangements for it. It is actually both useful and unhelpful for banks to make transactions with bitcoin. The useful thing is that governments accept bitcoin through banks. In this way, they officially acknowledge the existence of Bitcoin. The unnecessary thing is that we have to pay a certain fee to the banks when buying or selling bitcoin.

One of the goals of banks that want to invest in bitcoin is to want to control bitcoin. But I don't think they can take control by buying bitcoin. That's why I love Bitcoin.

[Sim_card]

The banks are accepting bitcoin transactions so that they can gain for taxing the people buying or selling bitcoin with their banks. This is a good development for bitcoin because it will be easy for people to buy bitcoin directly from their banks and it will also increase the rate of bitcoin adoption. There are some people who think that bitcoin is scam and if they hear the news that the banks are dealing on bitcoin,then these set of people will understand that bitcoin is not scam. The disadvantage of banks trading bitcoin is that you will not be in full custody of your coins which makes your bitcoin the banks own. Not your keys....Not your coins. You can also be tracked down by government if any huge transaction is made with bitcoin. Banks are trying to kill the privacy that bitcoin gives to its users when you buy from banks

[Z390]

Which bank are you referring to? If this is really happening why don't you show us a screenshot of your banking app that has it up where customers can buy Bitcoin? I do not find this easy to believe I am sorry for saying this.

and even if this is true we all know that bank are businessmen or the business entities that are here for making more money, so if anyone is buying crypto through Banks they should know that those banks are making money out of them one way or the other.

You need to ask yourself what are the banks benefiting from selling crypto to their own customers it doesn't make any sense, It is also very risky to buy crypto through banks because now they will know that you are into crypto investments yourself and even in future, if the government decide to start going after those that are investing in crypto it will be easier for them because believe me the banks will betray you easily.

[kotajikikox]

Whatever their reason is still having Bitcoin involved is still our priorities because this may add as adoption from banks in which once hated bitcoin that much but now they are extending their hands to have this or be out of the system in money distributing and contracting .

[Inwestour]

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

What do you guys think, should banks even be in 'the game'?

As much as we would not like it, banks will be in the game, they want to control bitcoin in the same way that they control fiat now. They will want to charge fees for payments, issue loans in bitcoin and carry out all the transactions from which they can earn. I did not see that the bank offered me to buy bitcoin through the banking application, but I think that this will happen in the future.

Then the banks will convince us to give and store our bitcoins to the bank, as they will guarantee us security, I have no doubt about it. But I will never give my bitcoins to the bank.

[Porfirii]

What do you guys think, should banks even be in 'the game'?

They are free to do what they want, and they have been doing worse things historically, so yes, let them offer Bitcoin services if they want: the fact is that these services are completely unnecessary for the clients and reflect the own interests of the banks, but if clients aren't willing to believe it, I'm sorry for them, but they have what they deserve.

A very different thing would be that Governments forced to use Bitcoin via banks, which would be an outrage to me, but this is a different question.

[Pandu Geddon]

because the Bank really cannot put pressure on holders and users of Bitcoin, maybe this method is enough to help collect taxes.
if what is done in a banking application, is it a form of cooperation with an exchange or do they own all the assets traded there? if that's the case isn't it almost the same as a centralized exchange, and it's very inconvenient for anyone investing.

[m2017]

Since they couldn't suppress Bitcoin, some banks are now endorsing investing in it. I remember seeing that I could buy and sell Bitcoin (and other cryptocurrencies if I remember correctly) straight from my business banking app when I was working on financials in some company a while ago. Now I wonder, do they just want to enter the market and profit off of it or are there some other intentions? Since they offer an exchange for business users, could it be possible that the system could be used so the government could actually tax Bitcoin by taxing the company investing in it trough the bank account?

Maybe I'm overthinking this, but when banks are involved with Bitcoin it always seems like an attempt of gaining some sort of control over it or push it to be more centralized in some way. And seeing more and more of them getting involved doesn't really comfort me.

What do you guys think, should banks even be in 'the game'?

In which bank and banking app did you see the opportunity to buy and sell bitcoin?

Any bank, as a commercial organization, first of all seeks to make a profit, and in the addition of a purchase / sale bitcoin service to clients, I see their desire to earn. First of all.

As for other intentions, such as taxing, gaining control, and pushing btc for more centralization, I believe that this is not within the competence and responsibility of the banking industry. But I don't rule out that regulators may oblige banks to do this.

I strongly believe that there is no place for banks between BTC-user and bitcoin.

[Emilywang]

Some traditional banks have started offering services related to cryptocurrencies, including Bitcoin. However, it's important to note that banking services related to Bitcoin can vary by country and institution

[Despairo]

Because it's a win-win situation.

It's a win for the banks because they can make more profit by ask additional fee.

It's a win for the government because they could control some Bitcoin which people willing to sell for them (through the banks).

It's a win for the holders because it would increase adoption by people who're still skeptics against Bitcoin and it increase an access for people who want to buy Bitcoin.