What banks do accept bitcoin?

Damon Douglas

Damon Douglas, Bitcoin Investor/Trader (2016-present)

Répondu il y a 74w

Wow! I can see why there are so many answers that are probably not answering the question in the way in which you asked. I can see how there can many interpretations as to the way that you worded it. Are you really trying to find out which banks are Bitcoin friendly?

First of all, you all that have answered so far gave some really good insight on Bitcoin, but that does not answer the author’s question (If I am understanding the question correctly). I know that this is an old post, but I am sure that someone else will still have this same question. In that case, I will give my best attempt to answer the question that was asked.

I think that the people that have so far answered your question didn’t realize at the time of posting their answers didn’t realize that banks are actually allergic to Bitcoin. What do I mean by that? Well… Before you do any kind of serious trading or transactions with Bitcoin, you must first have some things in place. For instance, you must have an anti money laundering agreement in place. People think that profits from Bitcoin is tax free. The IRS doesn’t see it that way. Bitcoin profits are taxed as capital gains. So if you’re going to do any kind of significant volume using a bank as a middle man, you have to have things in order, or else, they will shut your account down and you may even see a negative balance. Bank of America is notorious for shutting down accounts!

To get a good idea about which banks are most Bitcoin friendly, I suggest that you visit Bitcoin News, Blockchain News, Prices, Charts & Analysis - CoinDesk and inquire within the community. I also recommend Paxful and their website is: Achetez bitcoin instantanément where there are over 300 ways to trade Bitcoin, including cash deposit directly to the seller’s bank account.

I hope this helps! Just keep in mind it’s going to be more so about that anti money laundering paperwork than it really is about the bank itself.

Amy Valdez

Amy Valdez, Cryptocurrency and Credit Score Analyst

Répondu il y a 22w

Many cryptocurrency enthusiasts are more than happy to escape the world of fiat, however, being able to successfully transition from using fiat currencies to dealing purely in cryptos will take time and an entirely new banking infrastructure.well it depends on the country but If you're based in a country that still treats cryptos with suspicion then there's the real possibility that your account may be closed as a result of purchasing your favorite coin thereafter.

Despite this fact, many choose to solider on and make use of both centralized and decentralized exchanges to purchase and trade cryptos while running the risk of retribution from their banking services provider. Fortunately, advances in the world of fintech have produced a number of banking projects that look set to step in and provide cryptocurrency friendly services for the entire community. Here are five of the best.

Fidor Bank

Le premier est Fidor Bank, a digital bank founded in Germany in 2009 that seeks to modernize banking by providing users with digital options tailored to their needs. The bank promises to enable users to be able to send money to friends via their email address or mobile number and provide a host of banking options including saving bonds and crowdfunding investments.

The Fidor Smart Current Account comes with the option of a digital or physical Mastercard and can be applied for online in minutes. Fidor boasts around 100,000 clients and more than 300,000 community members in its native Germany but is planning to expand its customer base in the UK and throughout Europe. Fidor have made all the right noises regarding their support for cryptocurrencies and have teamed up with Kraken in order to provide a fully functioning banque de crypto-monnaie.

Changer de banque

Changement plans to completely revolutionize banking through a three-pronged attack. Firstly, they plan to offer a crypto wallet that can be used to store & send cryptocurrencies, whilst also offering a cryptocurrency spending card that also earns rewards by paying with Change Tokens. Change also seeks to outdo traditional banks by operating a marketplace that aggregates the best ways to invest, insure or lend and provides these services from a single interface & wallet. Individuals onboarded to the Change platform can benefit from getting all their financial services from a single source with Change acting as an "AppStore" for the best performing specialized financial service companies.

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Change Bank users can choose to invest in a diversified stock portfolio or real estate, finance loans, or sign travel insurance. This can all be done from one interface with complete transparency and zero delay. For the more business minded, Change has partnered with the e-Residency project provided by the government of Estonia, this project allows entrepreneurs to start up and run digital businesses registered in Estonia without having to visit the country. Change will also be available to an estimated 10 million e-Residents.

Change Bank is currently conducting a vente symbolique that concludes on the 16th of October.

Worldcore

Lancé en 2015, Worldcore started out by offering multi-currency accounts and later added prepaid debit and virtual cards to its list of services. The Czech based bank has grown in importance and is now the number one payment institution in the country. Worldcore is continuing to branch out and after onboarding via an ID verification process, any account holder has access to all the financial services they offer. Clients are able to:

  • Accept bank payments directly to a Worldcore account;
  • Buy, sell or pay for any services or goods from their Worldcore account balance;
  • Load their Worldcore account with any supported e-currencies and withdraw funds in US Dollars or Euros to any bank account or any Visa/Mastercard/UnionPay in the world at low fees;
  • Make free internal payments to any Worldcore account holder;
  • Order any number of Worldcore prepaid debit cards to convert account balances into cash at ATMs worldwide.

In addition to these services Worldcore is also focused on providing solutions for the crypto community, and their PayAnyCard can be loaded with cryptos enabling the easy spending of digital currencies. Worldcore also provide their Ultimate MasterCard and Virtual Debit Card and provide support for over 10 currencies when conducting transactions. The Czech company offer a whole host of banking solutions for both individuals and businesses and are focused on providing a comprehensive set of banking services with additional features aimed at the crypto community already in the pipeline.

Worldcore is conducting a token sale that starts on the the 14th of October.

Bankera

Bankera est une fourchette opérationnelle de SpectroCoin, the UK based Bitcoin exchange that boasts more than 300k users and has issued more than 50k Bitcoin debit cards. Bankera is aiming to build a fully comprehensive digital bank and plans to provide payment accounts with personal IBAN, debit cards, interbank foreign exchange rates and payment processing. Bankera will supplement these services with support for both traditional fiat currencies and cryptocurrencies such as Bitcoin, Ethereum, DASH, NEM, and a number of ERC20 compliant tokens.

Bankera also aim to offer loans and deposits that allow its clients to obtain interest rates on their holdings or to borrow at a preferable rate. Bankera will also offer to take cryptoassets as collaterals for loans. In addition, all Bankera clients will be able to benefit from higher interest rates due to proprietary information about borrowers' cash flow, as most loans will be given to business clients who use the payment processing solution. A range of investments will also be provided and these will consist of low-cost investment products such as equity traded funds, crypto-funds, and roboadvisory solutions for wealth management. Due to local regulations, Bankera services are not available to citizens of the United States of America.

Bankera launched its pre-ICO on the 28th of August 2017.

Monaize

Monaize seeks to cater to freelancers, entrepreneurs, and small enterprises in France and the UK by providing business facilities that have previously been denied to cryptocurrency investors. Monaize is a 100% mobile e-banking platform that users interface via a sleek mobile app. Monaize aims to offer a straightforward service that lets users:

  1. Open a business bank account with an IBAN number, and a Monaize Business Mastercard that allows up to £10 000 per day in card purchases and up to £1 000 per month in cash withdrawals.
  2. Take out professional insurance: Public liability insurance adapted to the specific needs of the business.
  3. Obtain a payment system via mPOS, SMS/E-mail, on site widgets for E-commerce.
  4. Access crowd-lending solutions in order to finance their business.
  5. Conduct their banking through an efficient mobile application.
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To open a UK account you need to be a Director in a British company and reside in the UK. You will be asked for the following information:

  • Company name and registration number.
  • Passport belonging to a company director.
  • Proof of address belonging to a company director.

Monaize has an ICO planned for next month and the token sale will take place on 10th November 2017.

So as i earlier said it depends on the country and government regulations of your country..thanks

Rohan Kulkarni

Rohan Kulkarni, Support technique

Répondu il y a 21w

What banks do accept bitcoin?

If you need a bank to manage your money, there isn’t any base to owning bitcoin. The first agenda of bitcoin and cryptocurrencies were to abolish the intermediary authority like banks, payment gateways, and the government tax regulations. But, if you are talking about banks that can transfer your bitcoin in some currency then there are many such banks.

You do realize that banks cannot keep their hands off cryptocurrency world, a world that is growing rapidly and is a revolution in itself. Yet, many countries have stated bitcoin as an illegal means of transactions. Countries like India has seen a rapid increase in illegal transactions and crime rates since the day bitcoins came in action. So, RBI (Reserve Bank of India) has warned the bitcoin community to give up their practice. Where many traders gave up instantly, fearing the consequences associated with RBI ultimatum, there are still many traders out there taking risks for they understand the profit they can have with bitcoins which is nothing compared to the risks taken against the government.

Talking in respect of global acceptance, there are many banks and bank ATMs that convert bitcoins into any country’s currency and vice versa. You can check the detailed banks and acceptance procedures on BTCMonk- a website for tracking, exchanging, converting, mining, and trading of cryptocurrencies.

Puneet Gupta

Puneet Gupta, Explorateur de Blockchain | Digital Marketer | Mentor de démarrage

Répondu il y a 29w · L'auteur dispose de réponses 814 et de vues de réponses 1.6m

Currently no banks accept Bitcoins in its form. They trade/transact in government backed fiat currencies only.

Although Bitcoin is a legal payment tender in some countries. Your traditional banks do not directly deal with Bitcoin. There might be some intermediary who convert Bitcoin to local currency and vice versa.

Secondly Bitcoins is against the concept of centralised authority in charge of your money. If you need a bank to park your money, you do not need Bitcoin.

Ajay Bhardwaj

Ajay Bhardwaj

Répondu il y a 23w · L'auteur dispose de réponses 121 et de vues de réponses 165k

Bitcoin’s Acceptance by Financial Institutions

Cryptocurrency is making it to the headlines of newspapers, news websites every day. It has jolted the world of business and finance and even the aftershocks it bears are quite rich in magnitude. How did it get here is a question which has many answers, but how the picture of future will be affected by the renowned term Bitcoin is yet to be answered.

What banks do accept bitcoin?

Bitcoin may be nerve wrecking, a reality too hard to digest, but it sure is exciting and keeping the whole world hyped up as it throws small tantrums every now and then. Cryptocurrency news today various organization in the finance and tech world are playing the role of keen witnesses in this entire bitcoin story, they are waiting for the best moment when the huge snowball of bitcoin engulfs them as well. The agencies are taking a more calculated approach towards it, so here are some facts on how the giants of this industry are taking Bitcoin and how their choices will reshape the future;

Bancaire

Banks will be not deliberately missing out on this severe transformation, which is a whole shift of paradigm. The technology we are discussing has a financial inclination, but it has a disruptive side to it as well, and keeping these realities makes it more difficult for banking sector to ignore the shift that has been taking place so close to them. Banking on the other side has always been reluctant and less amenable to the changes that take place around. This industry takes more calculated steps towards any probable change and simultaneously keeps a backlash path clean. Banking sector despite of being all rigid will have to accept and evolve bitcoin and cryptocurrency, as the society will soon be craving for this change.

Si vous voulez en savoir plus sur cliquez sur cryptocurrency 101 guidelines

Dan Foye

Dan Foye, Baccalauréat en sciences: étudiant en génie

Répondu il y a 173w

I am not sure that I understand your question. Also, I am not sure that you understand how Bitcoin works.

But, I will go ahead and make some comments, in hopes of helping to answer your question and to increase your understanding:

1) Any bank that has safe deposit boxes could "accept bitcoin" into a safe deposit box, as what makes bitcoin able to be controlled and "possessed" is the ability to maintain the secret key to a wallet address. So, whether the key is printed on a physical medium ("paper wallet") or on a USB memory stick or other form of digital storage, the secret key could be stored in a bank's safe deposit box (for what is called "cold storage" ie offline storage).

2) There are businesses that exist in order to facilitate the purchase of bitcoin with fiat currencies. To my knowledge, the main two are Circle and Coinbase. These organizations are registered with all the pertinent regulatory financial authorities in the United States.

I think what you are wondering is if any "run-of-the-mill" banks will take someone's bitcoin and store it for them. The idea of Bitcoin is that it was created as an alternative to traditional banking systems. So while there have been and will hopefully continue to be progress made with the integration of Bitcoin and other cryptocurrencies into the more traditional financial system, it is not something that is universally accepted at this time (and there are probably those in both camps that are vehemently opposed to the integration).

In my opinion, it is inevitable that the financial systems in place today will (eventually) become better equipped to handle and process transactions, exchanges, and storage of digital/cryptographic currencies. However, we are very much still in the early stages of this technology, so there are going to be obstacles and stumbles along the way.

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