Will banks One day accept Bitcoin deposit?

[Obiene12]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

[Nathrixxx]

It all depends from the country you're, some have once allowed for this before the government changed the regulations and ban the commercial banks from using crypto, dome do allow their banks to transact cryptocurrency, which all depends on the country and the regulations that their government are setting in place over the use of crypto, if banks do not accept the use of bitcoin, then this shows more clearly that it wasn't created for them, instead the people through p2p and not a third party organization before we can make use of bitcoin for any payment or transactions.

[dkbit98]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Why would you want to send your Bitcoin to a bank when Bitcoin was literally created to work without banks and third parties? 
Even if they start accepting Bitcoin they would not allow you to withdraw whenever you want, they would charge additional fees, they would force you to use their ''approved'' wallet, and other crap like that.

[Hazink]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Bank this, bank that, Bitcoin this, Bitcoin that. Banks in the near future can start accumulating Bitcoin for reserve, and if they start accepting that, then they will also have to make provision for alternatives which will allow Bitcoin deposits also. Some of them already allow direct buying of Bitcoin using their banking mobile app, if I’m correct.

But allowing the deposit of Bitcoin in a bank, to what purpose will that be? And why should such even be something to hope for, if I may ask? The banking sector is a business ground, and they will want to make a profit from everything, which means storing your Bitcoin with them; you are not only giving up access to it, but you will also have to pay for safekeeping something under their custody.

[Su-asa]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

This is already happening in most countries, like in my country you can make crypto transactions with your bank account which is why we mainly use P2P to our trade Bitcoin. However in some countries you can make transactions with your crypto without using p2p. Like in the El Salvador you can actually pay tax with crypto currency, so like I have said earlier that it's already happening right now.

[BitMaxz]

Bitcoin is not stable, and it is digital, and banks don't have control over it. Once the price of Bitcoin drops so much, it will affect banks. Banks wouldn't risk their reputation by holding people's BTC. Maybe they are going to accept money from buyers who deal with someone selling and buying BTC, but I believe they don't want to be involve with this deal because crypto is risky and not stable. Maybe for USDT or any stable coin they might accept, but not for Bitcoin.

However, maybe depends on the jurisdiction since someone above said there are some banks, but here in my country, they don't accept Bitcoin since it is not widely used yet here.

[Darker45]

It will happen, one day. Although it's kind of weird why somebody buys Bitcoin only to deposit it to a bank when it's basically designed to make you your own bank, yeah, I'm optimistic direct Bitcoin deposits will soon be accepted by banks. It's just a matter of time.

And it doesn't have to wait for world powers to accept Bitcoin as a medium of exchange. But if that's what you think what it takes for banks to finally accept direct Bitcoin deposit, then it's happening. Bitcoin is already accepted as a medium of exchange in some countries. Even in the US, Bitcoin is accepted as payment.

[philipma1957]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Why would you want to send your Bitcoin to a bank when Bitcoin was literally created to work without banks and third parties?  
Even if they start accepting Bitcoin they would not allow you to withdraw whenever you want, they would charge additional fees, they would force you to use their ''approved'' wallet, and other crap like that.

So let's say i have .

20k in my paypal bank fed Insured gets 3.8% interest almost breaks even with inflation

And 1500 in my paypal account  not insured.

Lastly 0.125 btc in my pay pal btc account. Grand total of  35000dollars .

Never spent any btc and stack it with buy the dip moves.

This means all the btc is 100% traceable kyc

And btc moons to 250k in two months I could simply sell that btc with zero issues of proof and pay tax easy easy.


And I also have 1 or 2 or 3 btc in a private wallet which is off the books more.

This is a reason for btc being held by a bank or bank style company [paypal]

[Catenaccio]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

It is wish and a wanted option for some people but with me, I don't want such convenient services from banks. With my time spent for learning about Bitcoin and my experience, I can have my own bank that is called as Bitcoin bank without need to use any other banks.

Why do I have to wish that commercial banks will provide such services while with them, I don't have any full control of my fund and my bitcoins?

Storing fund and let it under control by other parties is super risky and it is sort of unsmart practice especially we have another better solution that is accessible by everyone as it is open source and free.

Reminder: do not keep your money in online accounts.

Using banks and in the future, people willl face with bank runs then lose their money.

[X-ray]

Will only happen if there's regulation that allow and government is pushing for bitcoin adoption, otherwise the bank just gonna reserve exclusivity over the fiat cash in their system.

I really wish that one day banks can accept bitcoin deposit, basically integrating bitcoin into their system because it will make easier for everyone but we also know how careful against something new like crypto.

Probably if it does happen, only developed nation with high tech that are willing to embrace crypto will do that.

[Swordsoffreedom]

It is really confusing with the mindset of new investors these days, as they don't seem to take the time to learn or care about what the purpose of creating bitcoin is.

Bitcoin is a peer-to-peer currency, and Satoshi's purpose in creating it was to help us reduce our dependence on third parties like banks or centralized financial institutions. It gives us complete control over our money and assets, but now many want it to be integrated into banking.

It can be seen that the primary goal of most people when entering the market is profit, not decentralization or privacy, as many people claim.

[tottong]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

It depends on government policy, as banks in my country are generally supervised and government-owned companies.
This kind of question seems a bit odd to me, since Bitcoin wasn't created to be controlled by anyone, and we should be able to use wallets for storage, just as banks do for fiat currencies.
So, what's the importance of banks for Bitcoin? We can control every aspect of Bitcoin's journey, and you can buy and sell it faster than a typical bank.
Banks can make policy decisions regarding future reserve assets, and indirectly, banks already support deposits and withdrawals from exchanges even though they aren't directly affiliated with them.

[As-Soon-As]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Why would you send your deposited Bitcoin to a bank, because Bitcoin is designed to be uncontrollable by a third party. If you deposit your local currency in a bank, it is owned by a third party, but Bitcoin is designed in such a way that you own as much Bitcoin as you invest and keep for a long time. If your bank accepts Bitcoin, you will face a lot of trouble in withdrawing it, because you will have to pay a fee and go to the bank and use the mandatory wallet (the wallet that the bank will use) that will force you to use that wallet.
Why would you hand over your key to someone else, because if you deposit Bitcoin, the key is yours.

[LogitechMouse]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Even if they will accept Bitcoin deposits, I will still not deposit my Bitcoin on my bank account or whatever we want to call it.

This is the reason why Bitcoin was created in the first place. To remove banks and every third-party on every transactions, and they will include it on their system? I don't think that this will happen, but that doesn't mean that they will not integrate cryptocurrency into their system. Some banks already tried to add stablecoins, and that's the best that they can do. They will instead use stablecoins instead of Bitcoin.

Can we please stop asking these kind of questions. These banks will charge us more fees if they will do this. Are you willing to pay those additional fees?

[B-BossMan]

Yes, definitely, it might happen, but the government has to accept or adopt it first. When you take a look at some other countries, their government sees Bitcoin as a way of scamming their citizens, which it is not; it's just because the government has no interference or has no concern about your transactions. Your transactions are moving smoothly without any government authority, so in the nearest future they will come to realise the fact that the adoption will surprise them; however, I guess without government authority I don't think banks can make use of it as a medium of exchange.

[bitLeap]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Isn't the banking system always at odds with the lack of full control? Banks also comply with KYC & AML, so how can they verify the origin of these funds? Unless the bank uses a third party as an intermediary, which means they have to be prepared for bitcoin price volatility, transaction speed, security, and regulations.

[programmer3666]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

This your questionn would hav generally sound gud and acceptable on paper!!, iif we look at it from the angle of if banks start accepting Bitcoin deposits, it will kind of give more recognition and probably make life easier for people who don’t realy understand wallets or private keys to begin with... but if you calmly settle down your mind and think about it deeply!!! that was never the original intention of bitcoinBTC.. Look the whole reason Satoshi created it was so that we dont need middlemen like banks to hold or control our money ever again...

So yex some countries are already putting it into testing phase... take for instance ElSalvador, some banks and evenn the government now accept bitcoin as some form of payments, taxes and other services... if you also look at news updates that regularly pops up on X, Telgram & other social media platforms it sometimes highlight the fact that few banks in some Europian countries and the U.S are aready experimenting with Bitcoin custody services, especially for big investors who prefer the safe feeling of letting a bank hold it for them... but the of trut of the matter is once banks get involved it will no longer be pure Bitcoin anymore i can guarantee you... because they will definitely set rules,, also put limits, add extra charges and even most importantly they will likely take away your private keys... at that point you will know that you dont really own your Bitcoin!! the bank does.

from a personal angle though with my MSc background in Cyber Security Science.. i can say the whole idea of decentralization truly hits different when you see it put into practice.. through some case studies, I hav seen how dangerous it gets when central systems control everything,, one single point of failure can bring the whole structure down!. and in many developing countries, especially across Africa this isn’t just theory trust me! banks freeze accounts without warning, network outages leave people cut off and government policies can block access overnight... thatx why Bitcoin mod of design that almost completely cut out middlemen like banks is not just an abstract idea to me!! it feels like a real solution to problems we live with every day..

So based on ur statement will banks one day accept bitcoin deposits?? Yess!! most likely... but should we want that to happen??? i think that one depends entirely on you. Because if you value convenience more than freedom!! then banks will look attractive but if you believe in the original spirit of Bitcoin in self-custody and true financial independence then you will know it is better to hold your own keys and not let any bank turn Bitcoin back into just another account balance history or statements.....

[adaseb]

They might one day accept Bitcoin but its not going to be anytime soon and it might happen in developing countries but banks in the USA wont be doing it anytime soon.

There are some banks, usually investment ones which let you buy and sell bullion. So this is similar to bitcoin. It would actually be easier for a bank to implement Bitcoin trading then physical bullion. However bullion isnt as volatile as bitcoin so thats why its done.

So it is possible but I don't think its an issue for most. Its easy to sell your bitcoin for fiat and send that fiat to exchanges. Banks generally only accept currencies at the moment. It would complicate things to add digital assets.

[Zlantann]

Why would you want to send your Bitcoin to a bank when Bitcoin was literally created to work without banks and third parties? 
Even if they start accepting Bitcoin they would not allow you to withdraw whenever you want, they would charge additional fees, they would force you to use their ''approved'' wallet, and other crap like that.

Some individuals don't want to take full responsibility for the safety of their funds. They usually want to transfer the custody of funds centralized platform. I have heard from people that they prefer keeping crypto in banks because they can't keep seed phrases safe. Others are used to the bondage of using banks that they detest freedom.   

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

Banks can act like exchanges if the law allows them to operate that way. The US is a pacesetter in the global financial system. Other nations might follow suit if the US government empowers banks to engage in Bitcoin transactions.   

[BitGoba]

One day banks will accept Bitcoin as medium of exchange and accept deposits from bitcoiners. As soon as the world powers accept it as medium of exchange.

A medium of exchange is something people use to trade goods, services, or labor with one another , without the need for direct barter.

For example, in the early days of civilization, people practiced barter, which meant exchanging goods for other goods. If I had potatoes and you had eggs, we could trade with each other , but problems arise if you don’t need potatoes, or if we can’t agree on how many eggs are worth a certain amount of potatoes.

That’s why something universally accepted as valuable became necessary , so we wouldn’t always have to find someone who wanted exactly what we had to offer. This is where the concept of a medium of exchange comes in , something you can use to buy anything, because it is widely accepted.Throughout history, people have tried to use various forms of money as a medium of exchange . stones, shells, glass beads, whale teeth, Rai stones , until they eventually started using coins made of metals like gold and silver.Over time, people realized that metal coins were not ideal money because they were easy to counterfeit and difficult to verify. Some added other metals to coins to make fakes. It was also hard to carry and store metal coins.That’s why some people, mostly those involved in lending money and coin exchange, began offering services to store and verify metal coins. Anyone who deposited their metal with them received a paper certificate. This paper became a medium of exchange, while the metal remained with the custodians. This is how the first banks were formed.The word “bank” comes from the Italian word “banco,” which means a bench or table where money changers and moneylenders conducted their business.

So, banks were created because gold coin was not a good form of money. With Bitcoin, we don’t need banks. With Bitcoin, anyone can be their own bank because Bitcoin is a superior form of money. However, it is not excluded that under the Bitcoin standard there are Bitcoin banks ,no one can forbid anyone from opening a Bitcoin bank and offering Bitcoin custody services.