How safe is it letting the bank know that you are a BTC Investor?

[Husires]

The nature of the BTC P2P transaction will be determined. If it is a transaction once every several weeks or months, it is better to do it with a person from your country, and to repeat the transaction with the same person instead of other people. If you are asked, you can answer that he is a friend or has friendly dealings with him, and it is better to write it in a notice. Transfer: Transfer to a friend or for study.

But if you want to manage an activity where your account receives thousands of dollars from several accounts around the world on a weekly or even daily basis, it is best to make sure that there is a license to do business, otherwise your account may be frozen on charges of money laundering.

[arwin100]

If you tell it here on my country that you are dealing multiple transaction with bitcoins using their platform then provably you will be at messed since your bank would provably closed your account since they might found you doing some illegal things and ask where the source of funds came from.

So much better if you are dealing with crypto better be silent and don't tell anyone especially those bank employees so that you will not get any question also you can still use their services. So hopefully people would listen to what people's opinion regarding on this topic since its risky to discuss anything about it and also we don't need to brag that we earn on crypto just to flex that we are doing good with it since our safety will always matter the most so better stay low key on everything.

[serveria.com]

Few days ago, I made a BTC P2P transaction with my wallet exchange, the value of the fund was above my bank accounts capacity which got my bank account temporarily blocked.
So I went to the bank to sort it out and they said I would have to do an account Update and Upgrading.
I was asked to provide some personal documents for the procession so that my account can be upgrade to accumulate as much bigger value of funds hence the upgrade is done.
I provided all that required but while on the process, the customer care banking official asked me what I do for a living and I told her I am an investor and she asked to know what I invests on. I paused in a moment and  thought twice if I should say BTC investor or something else because I thought about my safety first since they have access to my bank account and they could easily get me in track if they wanted.
Besides, there were other customers who stood behind and with all ears which I was extremely security conscious to myself because my country isn't safe not because BTC is illegal but in the fact that they believes anyone dealing with BTC is a total wealthy man.
We all know that basically anyone who is not into BTC but knows about its potentials would say BTC is an investment platform specifically for the rich people.

Finally, I told the the official that I am a BTC investor and it was written down behind the bank form I filled for mtge upgrade request. After on, my conscience wasn't at rest because I was wondering i have attracted the bank from monitoring my banks transactions.

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

This is absolutely normal, the banks are following requirements which are being enforced by the government. KYC, source of funds stuff like that.

As to disclosing the fact that you are a BTC investor, I guess it's up to you. I would have kept it secret I'd just say I'm trading stocks or something like that (at least I'd try but perhaps they would ask for proof). Anyway, if you feel they're asking too many sensitive questions, why don't you change your bank?

[jcojci]

You don't need to say you are a BTC investor because that will make the officer ask many questions. You can mention that you work on some side jobs that can give you more income. You can also say that you are trying to make money from the internet and say you are a freelancer on a site offering services to help others. I think it can give a satisfactory answer to the bank officer, and he/she will not ask about other things.

But if that all happens, you can only calm your feelings. You don't need to worry about anything and always keep your Bitcoin wallet in a safe place.

[m2017]

"How safe is it letting the bank know that you are a BTC Investor?" - The fewer people or organizations that know about your btc investment, the more peace of mind you will have.

Few days ago, I made a BTC P2P transaction with my wallet exchange, the value of the fund was above my bank accounts capacity which got my bank account temporarily blocked.

Do you still continue to trust banks?

I provided all that required but while on the process, the customer care banking official asked me what I do for a living

What the hell is their business? Do you like counting down to the bank? They have placed too much power on themselves.

and I told her I am an investor and she asked to know what I invests on. I paused in a moment and  thought twice if I should say BTC investor or something else because I thought about my safety first since they have access to my bank account and they could easily get me in track if they wanted.

You should have thought twice three times and kept silent about your investments.

Besides, there were other customers who stood behind and with all ears which I was extremely security conscious to myself because my country isn't safe not because BTC is illegal but in the fact that they believes anyone dealing with BTC is a total wealthy man.

It turns out very interesting. This is a question of banks’ ability to preserve confidential information of their clients. Why the hell do they ask questions about personal data in front of strangers?

Finally, I told the the official that I am a BTC investor and it was written down behind the bank form I filled for mtge upgrade request. After on, my conscience wasn't at rest because I was wondering i have attracted the bank from monitoring my banks transactions.

Your conscience will become silent only after you stop being serviced by this bank and close your account with them (opening it in another, if necessary). Even this is not a 100% guarantee, because banks share information with each other and information (about your btc investments) may already be distributed between them (or reported to the regulator).

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

F*ck, yeah!

[KiaKia]

As for me, I think it's wrong to tell them that you are a BTC investor, and by the way, I could remember clearly that this same thing happened to me before, I went to the bank and they asked me this same question, I told them I plan to keep that private, and I walk away, they solve the account and upgraded it.

Since that time I always make sure that the money I convert from crypto into Fiat is limited, the amount that's not too alarming, and also I ended up going to another bank entirely, abandoning the old one, today things have changed, if your account is limited you can increase the limit yourself, by going into the account app settings and providing some information using your debit card or credit card.

Some will ask for extra important details too, if the amount is up to $20,000 I believe, but all in all, it's better to keep it away from banks, it's their duty though, but not all humans that works in a bank can be trusted, even bank workers can be criminals in disguise, they can hunt you down secretly.

[SamReomo]

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

Yes, the bank officials question was a valid one, they ask such questions in order to know that why a customer needs to spend a lot of money and they need that information in order to upgrade the accounts. You haven't done anything wrong by letting her know that you're a BTC investor because now everyone especially the educated ones know and understand BTC and they also know that many people invest in it so they won't do anything that would harm your account or anything else.

They only wanted to know such information in order to upgrade your account nothing else. I don't think that they will take any action against you or they will monitor your account. Now they understand that you can be a valuable customer so they won't bother you anytime. In fact, you don't have to worry by thinking that they will consider you wealthy because you invest in Bitcoin, there are many account holders who might invest millions on stocks and who might be customers of that bank, so just chill and relax.

[spiker777]

Few days ago, I made a BTC P2P transaction with my wallet exchange, the value of the fund was above my bank accounts capacity which got my bank account temporarily blocked.
So I went to the bank to sort it out and they said I would have to do an account Update and Upgrading.
I was asked to provide some personal documents for the procession so that my account can be upgrade to accumulate as much bigger value of funds hence the upgrade is done.
I provided all that required but while on the process, the customer care banking official asked me what I do for a living and I told her I am an investor and she asked to know what I invests on. I paused in a moment and  thought twice if I should say BTC investor or something else because I thought about my safety first since they have access to my bank account and they could easily get me in track if they wanted.
Besides, there were other customers who stood behind and with all ears which I was extremely security conscious to myself because my country isn't safe not because BTC is illegal but in the fact that they believes anyone dealing with BTC is a total wealthy man.
We all know that basically anyone who is not into BTC but knows about its potentials would say BTC is an investment platform specifically for the rich people.

Finally, I told the the official that I am a BTC investor and it was written down behind the bank form I filled for mtge upgrade request. After on, my conscience wasn't at rest because I was wondering i have attracted the bank from monitoring my banks transactions.

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

Well, that depends on the regulatory laws on crypto in your country. if cryptocurrency is legal and trading cryptocurrency is allowed in your country then i think that is fine. but if crypto is not legal then you definitely made a mistake.
I think you should've told them about a backup source of income instead of revealing your Bitcoin identity, if I were in your place I would avoid telling them about Bitcoin trading, because we don't know what might their personal opinion be and how will that effect your bank account in future,

[Smack That Ace]

Bitcoin investor is not an occupation and the customer care representative needs to input the right information into the system, so that's what prompted the question. There are many things you could have written on the form like student, businessman, civil servant etc, but why BTC investor? Which to me looks like a show off.

So I think you really screwed up, you're supposed to keep your crypto dealings discreet and exposing yourself in this manner is not good. The banking staff may not harm you but with this kind of mentality, you may repeat same mistake elsewhere.

I also do not support disclosing that we are investors in banks or any other organization. But I guess OP wasn't prepared for that question and forced him to tell the truth, not that he was bragging. Because if you say you are a student or a worker, how can you receive an unusually large amount of money transferred to your account? That also wouldn't make sense and would make the bank more suspicious of you.

I'm also thinking about this because after the bull season ends, many people will cash out to their bank accounts to ensure profits. I think owning multiple bank accounts and cashing out multiple small orders would be a solution.

[Natsuu]

Bitcoin investor is not an occupation and the customer care representative needs to input the right information into the system, so that's what prompted the question. There are many things you could have written on the form like student, businessman, civil servant etc, but why BTC investor? Which to me looks like a show off.

So I think you really screwed up, you're supposed to keep your crypto dealings discreet and exposing yourself in this manner is not good. The banking staff may not harm you but with this kind of mentality, you may repeat same mistake elsewhere.

Yeah. He might have overshot it a bit by saying BTC investor when it could have just gone with something like investor or businessman or just not mention it at all to keep it low-key. Keeping your crypto dealings on the down-low is generally a good idea to avoid unnecessary attention or potential security risks. If you're feeling uneasy, maybe have a research on how banks in your country deal with it. In my country, its quite complicated

[Wapfika]

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

The answer depends on the policy of your bank towards crypto. Most of the banks follows the country law towards crypto so if your country is totally against Bitcoin then expect that banks will do the same.

In my country during the early days of Bitcoin. Bank usually freeze account of users that involves on crypto trading since bank account has a specific use that user declares upon opening an account while crypto is new that time which is not in the scope for bank use. But right now bank already adapts on the use of crypto that’s why there’s no issue anymore if your account is connected with crypto trading.

[Nrcewker]

It depends on the rules that the government has imposed on Bitcoins in your country. Like in my country, Bitcoins aren’t legal and neither legal also. As government cannot control the Bitcoins, hence they haven’t made it legal. Moreover they have also imposed 30% tax on each crypto transactions in your country. Now if I was in your situation, then I wouldn’t have let anyone know that I am an investor in Bitcoins. Moreover you also said about this to your bank officials. I don’t know about the consequences, but yes you should always keep the investments private only.

[joeperry]

That's actually a good question. I am curious too If we are allowed to tell it to the bank that our source of income came from cryptocurrency, I was trying to open up an account and of course they will ask you where does your source of income came from and most of the time I would tell them that it came from an online freelance job and they are paying me US dollars but in reality I am earning cryptocurrency.

Now I am curious what if I told them that it came from cryptocurrency would they be able to let me open an account or they would let me open an account but they will monitor all my transaction? Well to be safe I think we should not just tell them that we are related to cryptocurrency to avoid complications not unless the cryptocurrency is legal in your jurisdiction so you better check first if it is legal or not.

[Abdulzuruku01]

Few days ago, I made a BTC P2P transaction with my wallet exchange, the value of the fund was above my bank accounts capacity which got my bank account temporarily blocked.
So I went to the bank to sort it out and they said I would have to do an account Update and Upgrading.
I was asked to provide some personal documents for the procession so that my account can be upgrade to accumulate as much bigger value of funds hence the upgrade is done.
I provided all that required but while on the process, the customer care banking official asked me what I do for a living and I told her I am an investor and she asked to know what I invests on. I paused in a moment and  thought twice if I should say BTC investor or something else because I thought about my safety first since they have access to my bank account and they could easily get me in track if they wanted.
Besides, there were other customers who stood behind and with all ears which I was extremely security conscious to myself because my country isn't safe not because BTC is illegal but in the fact that they believes anyone dealing with BTC is a total wealthy man.
We all know that basically anyone who is not into BTC but knows about its potentials would say BTC is an investment platform specifically for the rich people.

Finally, I told the the official that I am a BTC investor and it was written down behind the bank form I filled for mtge upgrade request. After on, my conscience wasn't at rest because I was wondering i have attracted the bank from monitoring my banks transactions.

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

Since you are afraid, you shouldn't have given the bank this information. Besides, investing in bitcoin is not an occupation, so I'm wondering how they agreed with you on that point. There are many very profitable jobs you can give the bank to protect your capital, like farming, fashion design, real estate, and construction, and many more. The bank can't follow you to verify these jobs, they only want to know the true source of your income so they can have it in their records.

Depending on the government policy, and I believe it is legal, which is why they let you go free; otherwise, they should to have taken the appropriate action against you there.

[Yatsan]

Actually it is fine letting your bank know about being an investor as long as they don't have restrictions of it; some banks are fine with it 'coz they are still getting profit from the transactions given that your wallet is under their banking institution. Actually I have a friend of mine whose money in a bank was questioned by the bank itself. That money is from crypto investments and since amounts in blockchain is not taxable. They asked him to send supporting documents if he wants to keep his account but fortunately he chose to move to other bank instead and it turned out to be a better option. At the end of the day, we are just clients of them and we have to comply with their rules. We always have options in every situation in the first place which makes no sense to push things. This industry is still young and adoption still is in progress.

[Odohu]

Bitcoin investor is not an occupation and the customer care representative needs to input the right information into the system, so that's what prompted the question. There are many things you could have written on the form like student, businessman, civil servant etc, but why BTC investor? Which to me looks like a show off.

It is just obvious that the bank officer is a little not experienced in that interrogation else she would have asked you the source of the funds you invested in Bitcoin. You cannot answer an investor without a source of funds because you need money to perform an investment.

Calling himself a Bitcoin investor was funny and a unprofessional and he really ignored several risks in that response. In some countries, such answers will draw so much attention to his account and activities. There was a time such response will lead to outright  closure of the account in my country. Then you just to mention Bitcoin or cryptocurrecy in the comments of ant financial transaction and your account is doomed.

[Rufsilf]

I think it makes sense that the bank would want to make sure they are not suspicious of you, which is why they are asking you about your income source based on how much money you have. To make sure they are not aiding any unlawful activity, like money laundering, or any other terrible things that someone has been committing, I believe they should take that action. Considering that you are an investor and that trading or investing in cryptocurrencies is the primary source of your income, I think it is appropriate for the bank to request information about your occupation in order to comply with the regulations.
Thinking about how comfortable you are sharing this information and if you trust your bank to manage it properly are important factors to take into account, I think.

[kenpachiofficial]

It is often safe to disclose your Bitcoin investments to your bank, but you should be informed of the laws in your country and the policy of your bank regarding cryptocurrencies. It's best to check in advance as certain banks can have particular guidelines or limitations. When providing your bank with such information, you should, in my opinion, also take into account the possible effects on your taxes and financial profile.

[umbara ardian]

Banks can get nosy when they see a sudden dump of cash into your account, especially if it's like finding a wad of bills on the sidewalk and BAM! It's in your bank. They gotta make sure it's legit, you know? Think of it like them being the bouncers at a fancy club, checking IDs to keep things squeaky clean.

Now, Bitcoin can be a bit of a grey area for some governments. If your country's still scratching its head about crypto, telling your bank you're a Bitcoin baller might raise eyebrows. Maybe stick to saying you invested in real estate or, like, a killer potato farm if they ask.

If the government throws a shade-fest on Bitcoin and says "no thanks" to crypto accounts, yours might be on the chopping block. So, spread your crypto love around different banks, don't let one account get overloaded with cash, and avoid looking like a walking ATM.

[Ndabagi01]

Finally, I told the the official that I am a BTC investor and it was written down behind the bank form I filled for mtge upgrade request. After on, my conscience wasn't at rest because I was wondering i have attracted the bank from monitoring my banks transactions.

Question please: was the official question on me necessary? And was it wrong of me letting her know that I am a BTC investor? My conscience just keep saying "Hello man, you fucked up talking about BTC out there".

If I were in your shoes, I would not have told them that I am a bitcoin investor; instead, I would have told them something else that would not make them feel otherwise, especially given the people there and how insecure the country can be if you disclose your true source of income, which some people believe only fraudulent people do. If you told them you were a businessman, I doubt they would have inquired further about the nature of your business; it would be an intrusion into your privacy, which is not appropriate. A customer service representative in the bank should have a limit to the extent of questions they ask their customers, since your account did not violate any bank rules or connected to any fraudulent activity.