Will banks One day accept Bitcoin deposit?

[Nahl]

I will tell the situation in my country that bitcoin had good status because recently my government has just make some policies to protect bitcoin users and i think this is bright move because although bitcoin still hasn't admitted globally and some people are still doubt about it but at least my government have concern to develop of bitcoin

About the question would bank will accept bitcoin someday and if we see the movement of my government i am quite confident in the next few years the bank will starting to build the facilities to bitcoin users to accept deposit and withdraw for bitcoin but if we talking about how potential bitcoin will became an the currency i think it's quite hard because as i said before although the government is very welcome to cryptocurrency but they will never considers bitcoin as the currency but bitcoin is more likely like an asset which can be save for the future purposes

[FortuneFollower]

I will tell the situation in my country that bitcoin had good status because recently my government has just make some policies to protect bitcoin users and i think this is bright move because although bitcoin still hasn't admitted globally and some people are still doubt about it but at least my government have concern to develop of bitcoin

About the question would bank will accept bitcoin someday and if we see the movement of my government i am quite confident in the next few years the bank will starting to build the facilities to bitcoin users to accept deposit and withdraw for bitcoin but if we talking about how potential bitcoin will became an the currency i think it's quite hard because as i said before although the government is very welcome to cryptocurrency but they will never considers bitcoin as the currency but bitcoin is more likely like an asset which can be save for the future purposes

They will probably allow it to be used, but to be turned back to fiat while doing so, which denies BTC its purpose...

[purple_sparkles]

I will tell the situation in my country that bitcoin had good status because recently my government has just make some policies to protect bitcoin users and i think this is bright move because although bitcoin still hasn't admitted globally and some people are still doubt about it but at least my government have concern to develop of bitcoin

About the question would bank will accept bitcoin someday and if we see the movement of my government i am quite confident in the next few years the bank will starting to build the facilities to bitcoin users to accept deposit and withdraw for bitcoin but if we talking about how potential bitcoin will became an the currency i think it's quite hard because as i said before although the government is very welcome to cryptocurrency but they will never considers bitcoin as the currency but bitcoin is more likely like an asset which can be save for the future purposes

They will probably allow it to be used, but to be turned back to fiat while doing so, which denies BTC its purpose...

Right now, digital technologies are developing very quickly, and it’s quite possible that in the near future we’ll already be hearing about the ability to open cryptocurrency accounts in banks. More likely, however, banks will charge fees for this service. I doubt that banks will start offering deposits in bitcoin anytime soon, since it’s still too risky for them. And even if such an option appears, there’s a chance we won’t be able to access those funds as quickly as we’d like, for example, if we want to sell at a favorable rate.

[shield132]

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.

Because people do not use Bitcoin for its purpose. I love pre-2017 Bitcoin when the price was low, transaction fees were almost non-existent, when there were no KYC requirements available, when you could mine Bitcoin at home even without a free electricity, when you could trade Bitcoin without a hassle. Today Bitcoin is a commercial business and almost everyone acquires it for this purpose, to make more money. People will send Bitcoin to bank account to earn interest on their Bitcoin deposits. Today people don't use Bitcoin to escape the bank but to make money, so this doesn't surprise me anymore.

[avp2306]

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.

Because people do not use Bitcoin for its purpose. I love pre-2017 Bitcoin when the price was low, transaction fees were almost non-existent, when there were no KYC requirements available, when you could mine Bitcoin at home even without a free electricity, when you could trade Bitcoin without a hassle. Today Bitcoin is a commercial business and almost everyone acquires it for this purpose, to make more money. People will send Bitcoin to bank account to earn interest on their Bitcoin deposits. Today people don't use Bitcoin to escape the bank but to make money, so this doesn't surprise me anymore.

Bitcoin actually have the same issue at that year since network fees surge read this https://www.cnbc.com/2017/12/19/big-transactions-fees-are-a-problem-for-bitcoin.html

That's why I'm not surprised if Bitcoin price fee surge when bull run came or there's something it bother its network since it will just fade out. Right now fees is so cheap base on mempool https://mempool.space/



So with this everything looks fine even if you want to transact Bitcoin from time to time. Bitcoin is slowly been accepted on some banks and there's good chance that they do full adoption then include this option if people want to deposit their Bitcoin in their institution in future.

[knowngunman]

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.

Perhaps, you want banks to start functioning like CEXs where you can freely deposit your coins and face unnecessary challenges when you want to withdraw. Even if Bitcoin is globally recognised as a medium of exchange, there's no point depositing your coin in a bank.

There are CEXs to that for you instead but it comes with consequences. The only role banks can play is allowing Bitcoin to fiat swap and vice versa. Talking about deposits involved giving them unreserved access to your coins and it's not ideal.

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.

I think insufficient knowledge about the whole system of Bitcoin and its operations is the reason behind opinion like the one in Op. I don't know why people intentionally want to drag Bitcoin and bank together when they are meant to be independent.

[fikrett]

Because people do not use Bitcoin for its purpose. I love pre-2017 Bitcoin when the price was low, transaction fees were almost non-existent, when there were no KYC requirements available, when you could mine Bitcoin at home even without a free electricity, when you could trade Bitcoin without a hassle. Today Bitcoin is a commercial business and almost everyone acquires it for this purpose, to make more money. People will send Bitcoin to bank account to earn interest on their Bitcoin deposits. Today people don't use Bitcoin to escape the bank but to make money, so this doesn't surprise me anymore.

Profit smokes people's heads off, just like with anything related to it.

Banks are just there for the opportunity too, and it's our choice to give them such with our BTC.

[peter0425]

I will tell the situation in my country that bitcoin had good status because recently my government has just make some policies to protect bitcoin users and i think this is bright move because although bitcoin still hasn't admitted globally and some people are still doubt about it but at least my government have concern to develop of bitcoin

In order for bitcoin to be accepted globally, it has to be accepted by countries. One at a time each. I also think that it starts small. If the people from your country uses bitcoin a lot, it will later on reach the authorities and they would see the effects of bitcoin to their countries.

About the question would bank will accept bitcoin someday and if we see the movement of my government i am quite confident in the next few years the bank will starting to build the facilities to bitcoin users to accept deposit and withdraw for bitcoin

In a few years, bitcoin would be so in demand that banks will have no choice but to accept unless they want to be left behind.

[hero_the_bossman]

In a few years, bitcoin would be so in demand that banks will have no choice but to accept unless they want to be left behind.

They would be fine, they would just lose a big chunk of profit that is around the corner.

[Synchronice]

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.

Sure that day will come soon. There is a massive adoption of Bitcoin in the world. US states start to create Bitcoin strategic reserves, several countries already allow their banks to hold a Bitcoin reserves and many more plan to do that in the near future. There are also many other events planned. In the end, this is inevitable. Bitcoin is the place where money is, so, banks will definitely accept Bitcoin deposits one day because they'll have Bitcoin reserves and because of the competition, why won't they accept Bitcoin deposits if the law allows them to give away loans in Bitcoin? They can also be trading with Bitcoins behind the scenes and making money from the pump & dump.

[melinoe]

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.

Sure that day will come soon. There is a massive adoption of Bitcoin in the world. US states start to create Bitcoin strategic reserves, several countries already allow their banks to hold a Bitcoin reserves and many more plan to do that in the near future. There are also many other events planned. In the end, this is inevitable. Bitcoin is the place where money is, so, banks will definitely accept Bitcoin deposits one day because they'll have Bitcoin reserves and because of the competition, why won't they accept Bitcoin deposits if the law allows them to give away loans in Bitcoin? They can also be trading with Bitcoins behind the scenes and making money from the pump & dump.

I think in the future to come there will be no pump and dumps on BTC, imo, because to move it for such profits would be a task of in itself.

Truly, everybody takes notice of BTC, and that's great: now we only wait for real action to take place.

[HONDACD125]

It will depend on whether Bitcoin is legal or illegal in a country. When Bitcoin becomes legal in a country, the government of that country will completely change the country's policies and transaction methods, then the bank will automatically allow Bitcoin to be deposited. Since so far, no country except El Salvador has declared Bitcoin as legal tender, there is no rule for depositing it in the bank. However, I do not know how advanced other countries are, but in my country, there has been no positive agreement from the government on the subject of Bitcoin so far and it is not possible to say for sure whether it will come in the future.

Banks won't just start accepting Bitcoin to be deposited or stored in accounts if the government legalizes Bitcoin in the country, because it's not that simple, and the banks are also not in favour of Bitcoin because they know it's an alternative to them. I also wonder why people would deposit their Bitcoin in the bank when they can store it on their own using non-custodial wallets, where only they will have access to it and only they will know how much money they have in Bitcoin. Depositing your Bitcoin in a bank makes no sense because then you should simply use fiat.

Bitcoin provides us with decentralization, which means that we won't have any third-party involved in our asset holdings or any of our financial transactions done through Bitcoin, but if we use a banking channel even for our Bitcoin storage or making Bitcoin transactions, then what's the point of using Bitcoin? I don't like this idea at all, and I wonder if people would like it, but then again, there are ETFs that people are using for their Bitcoin investmenst, so yeah, anything is possible in this world.

[Bastketsrus]

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.

You're right, it really comes down to government stance and regulations. Banks were never the target users of Bitcoin anyway—it’s more about giving individuals the freedom to transact directly without relying on centralized intermediaries.

[Tungbulu]

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.

That would literally go against the core values of Bitcoin, which are decentralization, anonymity and privacy. that means that you will no longer have full control of your money. I think things are just better off this way. I don't even like the idea of the government getting involved in Bitcoin, let alone banks. Banks have no business with Bitcoin since they're controlled by a centralized body.

[Wake Up]

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.

That would literally go against the core values of Bitcoin, which are decentralization, anonymity and privacy. that means that you will no longer have full control of your money. I think things are just better off this way. I don't even like the idea of the government getting involved in Bitcoin, let alone banks. Banks have no business with Bitcoin since they're controlled by a centralized body.

Bitcoin, as a concept, is a creation that opposes banking. Remember Satoshi's hidden message. I, too, am against banks being so involved in the system. Today, we see banks heavily involved in money transfers and cryptocurrencies. I am against banks ever directly conducting cryptocurrency transactions. That would be completely contrary to Bitcoin's core idea.

[melinoe]

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.

That would literally go against the core values of Bitcoin, which are decentralization, anonymity and privacy. that means that you will no longer have full control of your money. I think things are just better off this way. I don't even like the idea of the government getting involved in Bitcoin, let alone banks. Banks have no business with Bitcoin since they're controlled by a centralized body.

Bitcoin, as a concept, is a creation that opposes banking. Remember Satoshi's hidden message. I, too, am against banks being so involved in the system. Today, we see banks heavily involved in money transfers and cryptocurrencies. I am against banks ever directly conducting cryptocurrency transactions. That would be completely contrary to Bitcoin's core idea.

Fortunately or not, banks still can do it if they want to - and they sure do want to capitalize on the process while also giving all the custody to themselves while doing it..

[Tungbulu]

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.

That would literally go against the core values of Bitcoin, which are decentralization, anonymity and privacy. that means that you will no ✂️✂️✂️✂️

Bitcoin, as a concept, is a creation that opposes banking. Remember Satoshi's hidden message. I, too, am against banks being so involved in the system. Today, we see banks heavily involved in money transfers and cryptocurrencies. I am against banks ever directly conducting cryptocurrency transactions. That would be completely contrary to Bitcoin's core idea.

Inasmuch as some people might argue that bank involvement in crypto could potentially bring stability and legitimacy to the crypto market, it doesn't change the fact that banks appear to be a threat and goes against everything that Bitcoin stands for. Satoshi's vision for Bitcoin wasn't for Bitcoin to have any interaction with banks but to create a peer to peer system that operates independently of central financial institutions and banks.

[Orpichukwu]

Right now, digital technologies are developing very quickly, and it’s quite possible that in the near future we’ll already be hearing about the ability to open cryptocurrency accounts in banks. More likely, however, banks will charge fees for this service. I doubt that banks will start offering deposits in bitcoin anytime soon, since it’s still too risky for them. And even if such an option appears, there’s a chance we won’t be able to access those funds as quickly as we’d like, for example, if we want to sell at a favorable rate.

The banking sector have already started diving in little by little, especially those online and digital banking platforms like PayPal, Cash App and other money transmitters which are also under the same banking laws. Later the traditional banking system will join the train, but their fee will always be their major target more than the security of the investors, and we can also see things like detectorship controlling when the owner of the coin can make use of it, when they can withdraw and when they can't, and where they can send to as well.

[JiiBs]

Right now, digital technologies are developing very quickly, and it’s quite possible that in the near future we’ll already be hearing about the ability to open cryptocurrency accounts in banks. More likely, however, banks will charge fees for this service. I doubt that banks will start offering deposits in bitcoin anytime soon, since it’s still too risky for them. And even if such an option appears, there’s a chance we won’t be able to access those funds as quickly as we’d like, for example, if we want to sell at a favorable rate.

Banks not accepting Bitcoin at this time is more of the stands of the central banks than it would be commercial banks. No one wants to second class their currency while making Bitcoin look as though it’s a superior currency even when it is.

Banks would someday find means to custody people’s seeds and coins for several purposes ranging from loans to trading with hopes of making profits from it. It’s a business established for the purpose of profit making.

My point of wonder would be, the individuals that would see having their Bitcoins with banks for a good or better safe keep.

[Abiky]

Bitcoin, as a concept, is a creation that opposes banking. Remember Satoshi's hidden message. I, too, am against banks being so involved in the system. Today, we see banks heavily involved in money transfers and cryptocurrencies. I am against banks ever directly conducting cryptocurrency transactions. That would be completely contrary to Bitcoin's core idea.

As much as we want Bitcoin to be "free" from middleman, there's nothing we can do to stop centralized entities from getting involved in it. After all, it's a free market. Centralized exchanges started to dominate the market from the very beginning, and now banks and "Wall Street" are getting in the game.

What's important is that most of Bitcoin's circulating supply ends in the hands of the people. As long as this is the case, we should have nothing to worry about. Fortunately, entities hold less than 1% (sort of) of the circulating supply. I hope that number stays low forever. Otherwise, it would be the end of an era. All good things must come to an end, right?