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

[Mate2237]

The bank should not concern about where the funds are coming from and their's is to serve the clients or the customers of the bank and not to investigate the client private transaction. And letting the bank to know that you holding bitcoin or cryptocurrency is not a bad thing and all depends on the country. If you are in a country that loves cryptocurrency then you are free to tell the bank that you are a cryptocurrency investor. But whereby the country you living in does not accept bitcoin or ban bitcoin then you don't have to expose yourself to anyone to avoid unnecessary embarrassment or harassment.

Stay clear and safe avoid those those who hate bitcoin.

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[Lanatsa]

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".

One of the things that i dont really like to happen and never ever intend to store up huge amounts in bank account in a shock manner. The amount only 8000-10000 USD would already make those kind of alarm
or alerts on which it is likely that your bank account would be locked. Good thing for you that they have unlocked your bank account on just telling being a BTC investor because here in our country
they wont really be accepting out such reason or simply they would really be looking for more. If you do fail on complying those things or being asked then you would really be at great trouble.
This is why whenever i have made out some transactions or passing up some amounts specially bigger ones then i do really divide into smaller parts and would be deposited into various bank accounts
on smaller divisions so that it wont really be triggering their bank deposit threshold. So far im doing just fine as of this moment or having no issues i should say.

[eye-con]

The bank should not concern about where the funds are coming from and their's is to serve the clients or the customers of the bank and not to investigate the client private transaction. And letting the bank to know that you holding bitcoin or cryptocurrency is not a bad thing and all depends on the country. If you are in a country that loves cryptocurrency then you are free to tell the bank that you are a cryptocurrency investor. But whereby the country you living in does not accept bitcoin or ban bitcoin then you don't have to expose yourself to anyone to avoid unnecessary embarrassment or harassment.

Stay clear and safe avoid those those who hate bitcoin.

The bank has concerns regarding the source of the funds of all their clients. They are subject to regulations by the country and, as you mentioned, this could vary depending on the country. If Bitcoin is not approved by the country, there is a high likelihood that the funds may be put on hold as the authorities have the power to do so.

[Mate2237]

The bank has concerns regarding the source of the funds of all their clients. They are subject to regulations by the country and, as you mentioned, this could vary depending on the country. If Bitcoin is not approved by the country, there is a high likelihood that the funds may be put on hold as the authorities have the power to do so.

I have made it very clear that all depends on the country and if the country is a cryptocurrency friendly or not. There was a time when Bitcoin was banned in my country, and as the op said the f you go the bank to lay a complain about the issue you were facing in the account and you be given a form to fill and in the form there was a a place or a column to fill that if you are involved in cryptocurrency or not and that was when Bitcoin was banned but now that column has nothing to do with the people again since Bitcoin has been unban in the country. But before then, nobody ticked that place but people ticket because bankers are looking for where to buy Bitcoin p2p in a cheaper rate.

Telling people that you are investing investing in cryptocurrency is not a bad thing because I see nothing wrong for that since cryptocurrency is not a criminal activity.

[oktana]

As far as Bitcoin isn’t illegal in your country then I don’t think you did anything wrong. The bank will definitely want to know the source of your money just to be sure what they are doing. If I were you, I’d tell her that it’s confidential and I can’t just say it out loud, or it she seems like someone that will perceive it as rudely, I will tell her to get a pen and paper so I write it for confidential reasons.

And as for them monitoring your account, I don’t think you should be scared as long as your money is clean and it isn’t some embezzlement but just payments or profits from hoarding crypto.

[Mrbluntzy]

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.

Mr sokani, you are right. Official doccumt needs to be filled with appropriate information and based on what I think, OP, did not do well to share his crypto information with the customer care representative. I don't agree that OP is just a Bitcoin investor because, to invest in Bitcoin, OP need some money and he can't have some money unless he may have a job he is doing to earn money. If he had a job, he would have just told the bank representative that he is an employee.

No matter the position that someone hold, never disclose your Bitcoin information to them. Even if it's the president of your country. Don't trust people with your coins.

[EarnOnVictor]

-snip-
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".

You are the one taking this far, it's never a big deal to me, rich people are everywhere and dealing with Bitcoin doesn't automatically make you richer than those who are not dealing with it. And if you must know, investment has been for so long, and dealing with crypto investment is an honour this time as this is the money-making avenue of this age that is not only easy but measurable with the stock and another honourable aspect of the financial market of old (the tradition).

Where I can say you fucked up is the fact that I could tell you did not have so much confidence being a Bitcoin investor but you need to change that. If you are good with what you do and your dealings are legit, bro, spit it out proudly. I must say that you are better than most of those bankers, so be proud of it whether for security concerns or not, you can't be a target just like that because you are not showing your worth there. Only that you can be better discrete next time so that private discussion and information do not leak outside the parties discussing it. There are ways you can achieve that without those around you aside from the bank official knowing.

Besides, was the question necessary? Yes, of course, you are doing an account upgrade which is also a KYC, they need to know everything about you including the source of income.

I believe what I wrote above has already answered the remaining question.

[reagansimms]

The first question that banks often ask when a transaction value exceeds the bank account capacity is "what do you do for a living?" This question is very realistic and usually they ask for transaction data as a condition to strengthen your argument. Funds stored in bank accounts are not completely safe, especially when cases like yours are handled by greedy bank officers.

But don't worry, friend, all your personal data will be safe and the bank will not target you outside of working hours. You are not the only person involved in large transactions at the bank, as long as there are very few cases of loss of account balance and the safety of people making large transactions at the bank is still maintained, you will be safe and far from danger. Next time try making regular withdrawals at different times and days, this method will prevent suspicion in every transaction you make.

[$weetne$$]

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 Bitcoin isn't illegal in your country, you gave the right answer because you might have made the customer care staff a potential investor as he'll be thinking about it all day and might start researching to become a Bitcoin investor too as bankers aren't making big money anymore and looking at you being an Investors of Bitcoin and making such a big amount of money that got your account to need an upgrade. I think what you should be concerned about are those that were standing at your back because they can be more dangerous than the bank staff. The bank staff was only doing his job and he can't leave the bank to track you home but the other customers that might have overheard your conversation might be dangerous. The banks need to know what you're doing because they are a centralized system that monitor everybody they're providing service to.

[Lida93]

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.

You don't just get it or maybe you haven't found yourself under such circumstance where your bank make demands for these informations from you as part of a KYC process for your account limits. I once had same experience June last year, a new account I just opened with one of the local banks and the first deposit I made into the account was beyond the deposit limit of which I never knew at first till days later I had a need to make withdrawal only to discover I couldn't.

To cut long story short, was told the account was blocked because I filled in the account opening form a a student and for students the limit has exceeded with the amount of money I deposited so I had to do upgrade as a businessman man or worker. I filled businessman and next question was "what's your business name and business registration number" etc etc.

I guess these were the kind of further questions op was avoiding that made him to just reveal he's a bitcoin investor. Moreover, if the country laws are not against bitcoin then he is not anyway in harm's way, only that next time he should rethink before answering.

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.

May be that for him not to have a repeat of this supposed mistake that's why he brought it here to the community to know what people thought about it could be like.

[Minor Miner]

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 Bitcoin isn't illegal in your country, you gave the right answer because you might have made the customer care staff a potential investor as he'll be thinking about it all day and might start researching to become a Bitcoin investor too as bankers aren't making big money anymore and looking at you being an Investors of Bitcoin and making such a big amount of money that got your account to need an upgrade. I think what you should be concerned about are those that were standing at your back because they can be more dangerous than the bank staff. The bank staff was only doing his job and he can't leave the bank to track you home but the other customers that might have overheard your conversation might be dangerous. The banks need to know what you're doing because they are a centralized system that monitor everybody they're providing service to.

But bragging to others that you're investing in bitcoin puts your privacy at risk and even puts you in danger.
You are wrong, bank employees do not need to follow you, they have all the information including your home address and they even know how much money you have. That means you're in more danger than you think.

Even though bitcoin is not illegal in your country, revealing yourself as a bitcoin investor to strangers is not recommended and should not be done. Furthermore, bitcoin has become popular and if it is not illegal in your country, I think many people would have known about it without your introduction.

[avp2306]

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 Bitcoin isn't illegal in your country, you gave the right answer because you might have made the customer care staff a potential investor as he'll be thinking about it all day and might start researching to become a Bitcoin investor too as bankers aren't making big money anymore and looking at you being an Investors of Bitcoin and making such a big amount of money that got your account to need an upgrade. I think what you should be concerned about are those that were standing at your back because they can be more dangerous than the bank staff. The bank staff was only doing his job and he can't leave the bank to track you home but the other customers that might have overheard your conversation might be dangerous. The banks need to know what you're doing because they are a centralized system that monitor everybody they're providing service to.

But bragging to others that you're investing in bitcoin puts your privacy at risk and even puts you in danger.
You are wrong, bank employees do not need to follow you, they have all the information including your home address and they even know how much money you have. That means you're in more danger than you think.

Even though bitcoin is not illegal in your country, revealing yourself as a bitcoin investor to strangers is not recommended and should not be done. Furthermore, bitcoin has become popular and if it is not illegal in your country, I think many people would have known about it without your introduction.

Especially that bitcoin  or crypto investment is famous on your country then for sure there's a lot of people there will be curious to know about your investment made.

That's why its important for us not to brag anything since it cannot bring any beneficial returns to us and we might just open ourselves to any legal sanctions especially if our government is strictly prohibiting us to use or transact crypto into their jurisdiction.

Much better to silent all of things we had since we don't need to expose anything and we just remain silent on our crypto achievement so that we can avoid any crypto related problems.

[milewilda]

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 Bitcoin isn't illegal in your country, you gave the right answer because you might have made the customer care staff a potential investor as he'll be thinking about it all day and might start researching to become a Bitcoin investor too as bankers aren't making big money anymore and looking at you being an Investors of Bitcoin and making such a big amount of money that got your account to need an upgrade. I think what you should be concerned about are those that were standing at your back because they can be more dangerous than the bank staff. The bank staff was only doing his job and he can't leave the bank to track you home but the other customers that might have overheard your conversation might be dangerous. The banks need to know what you're doing because they are a centralized system that monitor everybody they're providing service to.

But bragging to others that you're investing in bitcoin puts your privacy at risk and even puts you in danger.
You are wrong, bank employees do not need to follow you, they have all the information including your home address and they even know how much money you have. That means you're in more danger than you think.

Even though bitcoin is not illegal in your country, revealing yourself as a bitcoin investor to strangers is not recommended and should not be done. Furthermore, bitcoin has become popular and if it is not illegal in your country, I think many people would have known about it without your introduction.

As much as possible you should really be that low key if you are really that minding about your security and privacy. If you've seen that you could really make out some reasons like having some offline
business on which you could be able to point on then make use of it so that you wont really be able to expose yourself as a Bitcoin or crypto investor. This is why im really doing my very best to establish
or create some business or any investment on which it would be able to reflect out my current earnings in crypto so that in the time that i would be making some big transactions then i wont really be
having any problems about these type of questions since you do have a valid business on which you can be able to make yourself that tell them on.

[Crypt0Gore]

With the present state of my local currency depreciating almost every day, the government are now trying to blame p2p traders on Binance exchange for this issue, talking about money laundering and others, I think it will be safer if I don't let my bank knows about my involvement with Bitcoin and crypto, situations will be different depending on each countries.

In a corrupted country anything is bound to happen, it's better to keep your mouth shut about BTC and crypto, you can expose yourself to criminals and also the bad eyes in the government, they are always everywhere, even in the so called banks.

I don't know about you but I have all the rights to keep my BTC invest away from any public eye, we can never say what's coming especially in a country like mine, where they believe that the exposure to crypto and BTC is why the Fiat currency is going down, which I find so hard to believe.

[Baki202]

The bank should not concern about where the funds are coming from and their's is to serve the clients or the customers of the bank and not to investigate the client private transaction. And letting the bank to know that you holding bitcoin or cryptocurrency is not a bad thing and all depends on the country. If you are in a country that loves cryptocurrency then you are free to tell the bank that you are a cryptocurrency investor. But whereby the country you living in does not accept bitcoin or ban bitcoin then you don't have to expose yourself to anyone to avoid unnecessary embarrassment or harassment.

Stay clear and safe avoid those those who hate bitcoin.

At some point in Nigeria, they were having issues with those who invested in Bitcoin and even blocked their accounts, and I don't even see the reason why the bank should be blocking people's accounts, maybe due to the ill-will of the government. but now that it is becoming legal, the bank will not accept it, and I know some bankers will even have an interest in Bitcoin. The bank sees Bitcoin as a competition, which is why they are trying to get rid of it at all costs. The biggest problem is that you run Bitcoin involving the bank for countries that have accepted it as a legal tender. If in any country Bitcoin is banned, then you will have a big problem with its usage, but if it is not banned, then it makes using it much easier. and you will be free from all kinds of challenges.

[Mate2237]

The bank should not concern about where the funds are coming from and their's is to serve the clients or the customers of the bank and not to investigate the client private transaction. And letting the bank to know that you holding bitcoin or cryptocurrency is not a bad thing and all depends on the country. If you are in a country that loves cryptocurrency then you are free to tell the bank that you are a cryptocurrency investor. But whereby the country you living in does not accept bitcoin or ban bitcoin then you don't have to expose yourself to anyone to avoid unnecessary embarrassment or harassment.

Stay clear and safe avoid those those who hate bitcoin.

At some point in Nigeria, they were having issues with those who invested in Bitcoin and even blocked their accounts, and I don't even see the reason why the bank should be blocking people's accounts, maybe due to the ill-will of the government. but now that it is becoming legal, the bank will not accept it, and I know some bankers will even have an interest in Bitcoin. The bank sees Bitcoin as a competition, which is why they are trying to get rid of it at all costs. The biggest problem is that you run Bitcoin involving the bank for countries that have accepted it as a legal tender. If in any country Bitcoin is banned, then you will have a big problem with its usage, but if it is not banned, then it makes using it much easier. and you will be free from all kinds of challenges.

If you understand my previous post you would notice that I made mentioned of all that. And when Nigerian Government instructed the Central Bank of Nigeria CBN to stopped anything that is related not cryptocurrency in the country, and CBN activated policy and implemented it so all the banks in the country implemented it so if anyone was found using cryptocurrency then the account would be blocked but even at that if you settled with the bank managers they would instruct you what to do to transfer the funds to another account for you to withdraw. I have encountered such issue in one of the banks in Nigeria. And yes money many people fall into victim of this and that was why when you use cryptocurrency exchange platforms for p2p transaction the buyers would warned you that you should not mention anything concerning cryptocurrency in the transaction process.

But that has been settled, so now that the CBN has lifted up the ban all those nonsense has stopped. I know of a bank managers and cashiers who are into cryptocurrency businesses now.

[yazher]

I know how it feels and in my case, I ended up telling him another source of income which is not believable since no one in the world will ever believe that such a job will make money that huge. this is when I got a huge amount of payment from bounties way back then, and I applied for a bank account which they didn't accept because I didn't have enough information and documents to back up my statements. I ended up using another alternative which I don't want to mention because of high risk. The only reason I had when I decided not to disclose the source of money was too many questions from the bank manager and I ended up rejected by them.

[goldkingcoiner]

How safe is it telling the people who want to control your finances and your life about your ungovernable, secret, unregulatable money? That is really a dumb idea. Do not tell ANYONE about your Bitcoin, where it is, how much you own or anything like that.

The government is not your friend and the banks are not your friends. Anything they do serves them and them alone, not you.

Only share financial information with the people that you trust most, in your life. If anything. And even then I would recommend against it, if it can be helped.

[pawanjain]

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".

Did you just say BTC is illegal in your country ? If yes, then I would like to know which country you are from because I don't know any country bitcoin is banned.
May be it's not legal yet but that doesn't mean it's illegal. If it were illegal in your country then I would surely avoid telling the banks that I invest in bitcoin.
On the contrary, if bitcoin is just not legal yet but not illegal too then it depends on the bank where they are crypto friendly or not.
If the bank is crypto friendly then I can go ahead letting them know that I invest in stocks, bonds, crypto etc... so that they can get an idea what I invest into.
You can easily find out on google whether your bank is crypto friendly or not and you should have done your homework before going to the bank.

[eye-con]

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Telling people that you are investing investing in cryptocurrency is not a bad thing because I see nothing wrong for that since cryptocurrency is not a criminal activity.

The people you are pointing to, is it a regular person you know or someone in your circle? It's not a bad thing to talk about your cryptocurrency investments with others, but it can be risky. By sharing this information, you could potentially put yourself in danger if someone overhears your conversation or knows about your holdings. This is not to say that people you know would intentionally harm you, but it's important to be cautious about who you share this information with.