Will banks One day accept Bitcoin deposit?

[goldkingcoiner]

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.

Well they do not accept other kinds of deposits like valuable gems and metals.

Sure, they might store it for you, for a price, but they do not automatically convert it into value currency which you can use to buy things. You would have to sell the thing first.

Same with Bitcoin.

Now if it was a legal currency, then that might have interesting implications... We would have to look at El Salvador banks...

Although as someone here already mentioned, why would you put a decentralised, non-custodial currency into the hands of a third party?
You are basically going against the reason why Bitcoin was created if you do that.

[Fiasem20]

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.

Gradually the world has started accepting bitcoin as a medium of exchange,even traditional banking systems are becoming friendly towards bitcoin transaction as most banks around the globe are considering to work hand in hand with bitcoin.But the primarily reason bitcoin came into existence is to eliminate a third party in a transaction,so as an enthusiast wouldn’t you consider prioritizing your own financial freedom?depositing your bitcoin to the bank is just like relying on a third party to have control over your bitcoin.

[GiftedMAN]

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.

Gradually the world has started accepting bitcoin as a medium of exchange,even traditional banking systems are becoming friendly towards bitcoin transaction as most banks around the globe are considering to work hand in hand with bitcoin.But the primarily reason bitcoin came into existence is to eliminate a third party in a transaction,so as an enthusiast wouldn’t you consider prioritizing your own financial freedom?depositing your bitcoin to the bank is just like relying on a third party to have control over your bitcoin.

That’s correct, the purpose of bitcoin is to give individuals direct control over their own financial information and transactions without any foreign interference or third parties. Which is why it’s important as a bitcoiner to prioritize self custody, because that’s the original purpose for the creation of Bitcoin.
But however, the involvement of banks in the system still wouldn’t completely eliminate the role that bitcoin plays in the life of its users. As long as there’s awareness then there shouldn’t be any issues, if a person decides to give up their full control by depositing their bitcoin in a bank, then it should be a conscious choice and not because of ignorance.

[Antona]

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.

Gradually the world has started accepting bitcoin as a medium of exchange,even traditional banking systems are becoming friendly towards bitcoin transaction as most banks around the globe are considering to work hand in hand with bitcoin.But the primarily reason bitcoin came into existence is to eliminate a third party in a transaction,so as an enthusiast wouldn’t you consider prioritizing your own financial freedom?depositing your bitcoin to the bank is just like relying on a third party to have control over your bitcoin.

That’s correct, the purpose of bitcoin is to give individuals direct control over their own financial information and transactions without any foreign interference or third parties. Which is why it’s important as a bitcoiner to prioritize self custody, because that’s the original purpose for the creation of Bitcoin.
But however, the involvement of banks in the system still wouldn’t completely eliminate the role that bitcoin plays in the life of its users. As long as there’s awareness then there shouldn’t be any issues, if a person decides to give up their full control by depositing their bitcoin in a bank, then it should be a conscious choice and not because of ignorance.

Well said the "conscious choice" part is critical the system wins when people give up control out of ignorance, not after weighing the pros and cons as long as the knowledge and ability to self custody exists the power is still with the individual

[Pauldesaints]

If banks accept Bitcoin or not is non of my business because Bitcoin is not primarily for bank deposit it's a decentralised exchange.

[Tinubu]

Of course....even most banks now currently do accept Bitcoin deposits..banks like:
...JPM
...Goldman Sachs..e.t.c (so it's already happening)

But the odd thing... Bitcoin itself was created so that people wouldn't need the banks (Bitcoin contradicts the commercial Banks).. because you are in Total control of your Bitcoin account....so asking "if the banks will one day accept Bitcoin" is kinda wrong🙄 because most banks are already accepting Bitcoin...but rather..the question should be "will Bitcoin owners want to work with the banks"..... because looking at the features of Bitcoin (it was actually designed to contradict the banks)

So probably the banks will offer to hold your Bitcoin (like a safe box)...and trust me,many people will use it.. because they can rely more on the banks..than themselves...but that's not how Bitcoin was originally created to work...

[Peanutswar]

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.

Seems its not quite far because some of the banks right now are supported the use of the cryptocurrency most of the banks as of now with my country are now offering the services of the crypto investment, but of course such as limited feature, considering the deposit, withdrawal and also having a wallet to their platform. So now its not new if the banks will now support the use of the bitcoin as a mode of payment with their services because its part of their features, just the thing is how they will a head from those real exchange because they are convenient in terms of transactional base compared with the exchanges.

[BlackHatCoiner]

One day? Probably, yes. Isn't centralized exchanges the same as banks anyways, more or less? Binance allows you to take loans, it allows to transact, it gives you a debit card for Point-of-Sale payments. And it obviously accepts depositing bitcoin and doing whatever the hell you want with it.

Traditional banks would rather use it as collateral, because it's the apex predator asset which checks everything from the "collateral list". It's only a matter of time until they realize it. Will they accept it to transact as currency? Doubt it, but over the long term, I don't see why not.

[Judith87403]

Such an outcome is possible, yet it may arrive with trade offs. Banks may one day approve and accept Bitcoin the moment regulation is clear and demand become strong, likely giving charge and services of payment instead of true deposits. International acceptance as a means of transaction can legitimize Bitcoin more, yet the main worth of Bitcoin stays independent of commercial banks. Even though banks may join in, the purpose of Bitcoin as without permission, self custodial funds do not have to be forgotten

[Abiky]

One day? Probably, yes. Isn't centralized exchanges the same as banks anyways, more or less? Binance allows you to take loans, it allows to transact, it gives you a debit card for Point-of-Sale payments. And it obviously accepts depositing bitcoin and doing whatever the hell you want with it.

Traditional banks would rather use it as collateral, because it's the apex predator asset which checks everything from the "collateral list". It's only a matter of time until they realize it. Will they accept it to transact as currency? Doubt it, but over the long term, I don't see why not.

No. Centralized exchanges are not financial institutions per-se. They're far less regulated than banks themselves. It's this reason why many investors prefer to convert their crypto directly to Fiat instead of a stablecoin or leaving them on an exchange. Imagine once banks start accepting BTC as collateral. It will be huge.

I think the US already gave the "green light" for banks to start providing BTC custody services to their customers under President Donald Trump's leadership. We will soon live in a world were banks will start adding BTC instead of Gold to their reserves. While banks and "Wall Street's" involvement in Bitcoin helps spur mainstream adoption worldwide, it's in no way beneficial towards its decentralized and egalitarian (as in distribution of the circulating supply) nature. These powerful entities might buy most (if not all) of the BTC, forcing everyone to comply with KYC just to "own a piece of the pie". But that's another subject. For now, banks' embracement of Bitcoin is minimal. I hope it stays that way for a very long time.

[fuguebtc]

While banks and "Wall Street's" involvement in Bitcoin helps spur mainstream adoption worldwide, it's in no way beneficial towards its decentralized and egalitarian (as in distribution of the circulating supply) nature. These powerful entities might buy most (if not all) of the BTC, forcing everyone to comply with KYC just to "own a piece of the pie". But that's another subject. For now, banks' embracement of Bitcoin is minimal. I hope it stays that way for a very long time.

Everything has a price, and that's the price we have to pay for Bitcoin to become popular and adopted globally. More importantly, even if we don't like it, there's no way to prevent banks and centralized institutions from interfering in the market. Bitcoin is an open market for everyone, and they are the ones in power, we cannot stop them. So, what we need to do is find ways to adapt to all changes instead of complaining, because complaining won't change anything.

[X-ray]

While banks and "Wall Street's" involvement in Bitcoin helps spur mainstream adoption worldwide, it's in no way beneficial towards its decentralized and egalitarian (as in distribution of the circulating supply) nature. These powerful entities might buy most (if not all) of the BTC, forcing everyone to comply with KYC just to "own a piece of the pie". But that's another subject. For now, banks' embracement of Bitcoin is minimal. I hope it stays that way for a very long time.

Everything has a price, and that's the price we have to pay for Bitcoin to become popular and adopted globally. More importantly, even if we don't like it, there's no way to prevent banks and centralized institutions from interfering in the market. Bitcoin is an open market for everyone, and they are the ones in power, we cannot stop them. So, what we need to do is find ways to adapt to all changes instead of complaining, because complaining won't change anything.

With bitcoin it all comes down to choice. Don't want KYC? just self custody, don't want exchange fee? just P2P transaction with other. It's that simple.

The most important thing here is that the blockchain itself is decentralized, no centralized entity can mess up with the ledger. Things like bitcoin bank and so on are completely optional that I don't even think it's any problem to the current decentralization.

[Mahiyammahi]

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 treat Bitcoin either as an asset or as a currency, and both approaches are possible. If we compare it with gold, banks can store gold in their vaults and allow customers to withdraw it whenever they want. A similar model could exist for Bitcoin as well.
If Bitcoin is treated as a currency, banks could support it as an alternative or independent currency. For example, banks might allow Bitcoin deposits as an alternative coin, and people could trade it among themselves through P2P transactions.

However, if you’re talking about Bitcoin being directly tradable with fiat currency, that mainly depends on the country and its regulations. Even with growing adoption, we are still far from that reality today. That said, I believe this is something that will eventually happen in the near future.