Banks offering investing in Bitcoin

[Ever-young]

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.

Holding the coin is not the issue here, what matters is privacy protection. The bank will allow you use their service to purchase Bitcoin and you can still be able to withdraw it down to your personal wallet, but the wallet in which you transfer the coin to will be taken note of, which they might track every single movement of that coin to the last spending of it.

Those who do not care about privacy might want to use it, it might sound safer for them more than using P2P service since they could easily have any authority to hold for failed transaction and their funds could easily be reverse back to them. If the charges are low then they might be able to convince lot of people in using their service.

[1715027125]

1715027125

[1715027125]

1715027125

[1715027125]

1715027125

[1715027125]

1715027125

[1715027125]

1715027125

[1715027125]

1715027125

[retreat]

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'?

As far as I know, the banking operations are limited to providing financial services to its customers. For investments, they usually offer services on different platforms, but usually in one group. I don't know how the regulations are in your country, so that your bank can offer Bitcoin investment services directly from their application. Because as we know that banks and bitcoins are 2 things that are quite contradictory and most banks around the world are against the adoption of bitcoins and it is quite surprising that your bank offers Bitcoin investment services which are not their domain.

[Z-tight]

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 .

Banks being involved in BTC is not a priority, i don't even think it is possible to buy BTC from any bank and in my previous post in this thread i asked the op if the offer he saw was to purchase BTC on an exchange or crypto platform directly with your bank cards or bank app, that is possible and it isn't a new thing, but banks can't sell BTC to you or buy it from you, it is not part of their responsibility and i don't think it ever will. The way i think banks can be involved with BTC in the future is through offering to store people's keys for them in their vaults as they do with gold, though this is something i would never do, because "not your keys is not your coins".

[PeRo]

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.

I don't have a screenshot because, as I stated - I was working at a company and had authorization to access their bank account including the e-bank app from my work phone. It's not a secret, the bank in question is from Lithuania, I can't remember the exact name of it right now as it was a few years ago.

I do currently own a business and have an account in a Magyar bank, but they do not offer such exchanges/investments in Bitcoin.
I'm also presuming most of the forums members are from the US, I don't know if these services are a thing there, but these banks are clearly offering this in Europe.

snip

As far as I know, the banking operations are limited to providing financial services to its customers. For investments, they usually offer services on different platforms, but usually in one group. I don't know how the regulations are in your country, so that your bank can offer Bitcoin investment services directly from their application. Because as we know that banks and bitcoins are 2 things that are quite contradictory and most banks around the world are against the adoption of bitcoins and it is quite surprising that your bank offers Bitcoin investment services which are not their domain.

The thing is, the bank isn't in my state (as the company isn't), so I don't really know the regulations. Maybe they were using some exchange powered by themselves or some associate, who knows. I'm sure they just want to get more money in any way possible.

[Minhxx]

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 my opinion, if banks get into the bitcoin market they will want to control it optimally to make them profitable. The big Fed is targeting crypto by imposing alt coins as securities. I don't want big banks to enter this market, they will manipulate the crypto market price

[benalexis12]

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.

Here in our country I have not seen any bank that allows you to buy bitcoin from them. Because all I know is that you will make a transaction from the exchange using p2p to the bank we have here. That's all I know, and the merchants on the exchange will accept what we sell Bitcoin like Binance. But not directly to the bank, as far as I know, that's what has been happening so far.

But if this will happen to some of the banks here, I could consider as one of the good sign for bitcion adoptions anyway.

[Ojima-ojo]

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?

This depend on your country because we still have some countries who have total ban on bitcoin and the CBN hace placed a banned on banks involvement in bitcoin, this have been on for a while now and most central bank are against the adoption of bitcoin because their could not control it and since their can not control amor manipulate bitcoin market the now end up with several santioned and restrictions.

But even at that their are not able to supress the penetration of bitcoin to the peiple and that is why we have increased in the number of Bitcoin adoption globally.

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 have been the secret investor in bitcoin and most banks around the world have positive mindsets toward bitcoin but restrictions placed on them by the central banks have limited their involvement in Bitcoin.


Some time ago we heard several banks getting involved in cryptocurrency transactions, but then the trouble is that, will the government through the central bank allow such development, and at what point can we truly say that bank/decentralized assets (bitcoin) have become homogenized to meet the global economic standard.

[Franctoshi]

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 tax Bitcoin by taxing the company investing in it through 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 comfort me.

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

The best approach I do think that Banks and other financial institutions should follow is to find a means of leveraging this technology or tapping into the system to offer Bitcoin-related services, and If things progress and the Government did not place a ban on Bitcoin globally, There may come a time when people may choose to buy almost everything using Bitcoin, when most businesses are accepting Bitcoin as a means of payment, then the use of local fiat currency for transactions will be on the decline, Thereby resulting to Banks losing customers and money in this case.

[Yatsan]

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 tax Bitcoin by taxing the company investing in it through 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 comfort me.

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

The best approach I do think that Banks and other financial institutions should follow is to find a means of leveraging this technology or tapping into the system, and If things progress and the Government did not place a ban on Bitcoin globally, There may come a time when people may choose to buy almost everything using Bitcoin, when most businesses are accepting Bitcoin as a means of payment, then the use of local fiat currency for transactions will be on the decline, Thereby resulting to Banks losing customers and money in this case.

Won't be easy as it sounds. Banks are after adoption of this technology because of profit. When it comes on governments, then that's taxation. But's that is how things really work, as we all know.

Banks are now adapting to this blockchain by means of a third party wallet as they offer to potential investors. Ofcourse engaging to their platforms would cost you more than the usual because it is their servicd which is being paid. On my end, I'd more engage with centralized exchanges than banks solely. But looking at the birghter side, more institutions would be interested as well towards this industry.

[bayu7adi]

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.

Adoption will expand, but the primary function of decentralization will fade away with full control remaining in the hands of banks. It's as if the banks will act as custodial service providers. The original asset owners will only receive numerical values in their account books, while the banks can utilize their customers' funds for other purposes, such as providing loans and creating money.

That is indeed not incorrect, as until now, society has solely relied on the government and banks for their financial needs. Hence, it is extremely challenging to detach the attribute of "centralized" from every financial requirement they have.

[Faisal2202]

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'?

Ok, I get it that your bank allows you to buy Bitcoin and ALTS straight from your banking app which in my POV is very useful like you can easily, and quickly buy BTC with your fiat but where are you going to store that bought BTC?. Will you store bought BTC using Bank app on the same baking app? Because doing that means, you are no longer own the currency as you do not own the keys and I think you have better idea about it.

And about banks being in the game, I found no other issue than storing the assets on the same app and the record of that transaction on the app. Because this will eliminates the basic and most fundamental aim of BTC origin: which is anonymity, and once we lost it what benefit remain there in using it.

We should value the technology and in my opinion banks should set some boundaries if they want to join the game, and the boundaries are set on the factors that could not affect the value and aim of BTC origin.

[Agbe]

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 involving in crypto is a good idea. Banks will be like an exchange platform to buy and sell Cryptocurrency. But they will be extremely under the control of the government. So dealing with banks should be extremely be careful. Bank is a business firm so anything they do must strictly to business. So the intention of them doing such transaction is for business purposes. And nothing more to that.

[rachael9385]

What is your nationality? What bank do you use for transactions or savings? With the knowledge I have I confidently Belive that no bank will allow you to invest on bitcoin with their site, because many bank users have been band for doing bitcoin transaction, so I don't Belive that people can invest in Bitcoin from their bank site, but the question is WERE CAN WE STORE THE BITCOIN IF WE INVEST DIRECTLY FROM OUR BANK SITE?, if bank want to involve in crypto currency exchange or investments they need the approval of the government and I believe that it will be a very difficult task because the government think that crypto currency involves scam.

[BD Crypto]

What is your nationality? What bank do you use for transactions or savings? With the knowledge I have I confidently Belive that no bank will allow you to invest on bitcoin with their site, because many bank users have been band for doing bitcoin transaction, so I don't Belive that people can invest in Bitcoin from their bank app, but the question is WERE CAN WE STORE THE BITCOIN IF WE INVEST DIRECTLY FROM OUR BANK APP?,

The Answer of your question is "Yes". You are just investing from your Bank app to buy Bitcoin and you aren't holding it in banks wallet.

I agree with you and I don't know why OP didn't clarify it with us by providing his nationality and Bank name. I saw in every country where Bitcoin is illegal, Banks don't offer investing in Bitcoin. But if it really happens then it's a milestone for Bank users as they are also supporting the Virtual Currency. And it's quite impossible to implement tax regulations on the Bitcoin users as op thought about it.

[tjtonmoy]

Some of us think that bank involvement in the crypto industry will be a good thing. Because they think that it may bring more stability to the crypto world. People will get more flexible assets to invest in crypto. But maybe they have some intention behind it. Yes, most likely to centralized Bitcoin with an indirect approach. Bitcoin is decentralized and no one has control over it. So others in power will try to take control of it to make it centralized. Or as you said, they are trying to put a tax on it to make profits/gains. Everyone wants to get a piece of it. So when they were unable to defeat Bitcoin, they joined it. Cryptocurrency has gained a lot of popularity in the past few years. Now it is not possible to suppress it and they know it too. So, they have joined it. As the saying goes, "If you can't defeat them, join them". A perfect example of that. LOL.

[Mr.suevie]

It appears that the bank is likely interested in profiting from Bitcoin trading using fiat currency. When you purchase Bitcoin with fiat, the bank will levy charges, and the same applies when you sell it. However, it's unlikely that the bank itself is assuming the risks associated with Bitcoin's volatility. Instead, they may choose to partner or integrate with a cryptocurrency exchange to mitigate these risks. Additionally, if Bitcoin trading is legal in your country, the government may impose taxes on such transactions.

Thats same thing that is actually trying to happen in my own country, though its much expected since there was a change of government because the previous government actually put a ban to crypto whereas this new government seem to approach it with a nicer view and plans on putting taxes to bitcoin transaction and before ever they would do that, they would need to uplift the ban that was impose by the previous government on bitcoin restricting users to transact bitcoin directly with your fiat banks.

[summonerrk]

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'?

The fact is that banks are powerful corporations with their own staff of IT specialists who are looking for additional ways to make money for the bank. And of course, at the time of the appearance of bitcoin, it was considered as such an opportunity. And I am sure that large (not those banks that are local) namely huge world banks invested in bitcoin without a public announcement. Money rules the world and there is no need to think that corporations should report their actions. They can often act covertly in their own interests. It can be compared with Binance, which often acts covertly, and then only in the courts information about their actions becomes widely known.

[Wimex]

I think the banks are in the game but in another way… the banks implemented the CBDC (Central Bank Digital Currency). For the simple fact that he couldn't control Bitcoin, hence the idea of these core virtual currencies. Regarding what you said about

do they just want to enter the market and profit off of it or are there some other intentions?

It seems curious to me because they could be used but maybe not in the way you think... since governments would use BTC as a payment method for trading actions that they do not want to disclose... Or well, it may be that I just want to try one way or another another to control Bitcoin… with results that are not positive at all. I would like you to share with us that banking application that you mention, the ones I know do not give me the BTC option, it intrigues me a bit.

[Popkon6]

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 the banks agree to buy Bitcoin I think more investors will help accumulate the numbers. Because Bitcoin is not controlled by any owner or authority the only one who buys it (will own that piece of Bitcoin). So this change in bitcoin future is great because banks have created attention to bitcoin which is a plus point. Later on, Bitcoin futures will be dictated by the bank authorities as the number of investors increases and the Bitcoin price continues to peak overnight.

[Vaskiy]

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 the banks agree to buy Bitcoin I think more investors will help accumulate the numbers. Because Bitcoin is not controlled by any owner or authority the only one who buys it (will own that piece of Bitcoin). So this change in bitcoin future is great because banks have created attention to bitcoin which is a plus point. Later on, Bitcoin futures will be dictated by the bank authorities as the number of investors increases and the Bitcoin price continues to peak overnight.

The best thing on such move will be the common man's involvement with bitcoin. Most of the time people doesn't trust something new, but it have big trust upon banks, I'm not sure on what basis is this happening. When bitcoin can be bought through banks surely it'll reach more people and they'll start investing. People who aren't much educated find this difficult to spend online. Banks helps them have a place where they can request help in person which isn't possible while using an exchange service.