Questions tagged [banks]

A place that holds your currency and keeps it safe.

Filter by
Sorted by
Tagged with
14
votes
10answers
467k views

How can I sell bitcoins and transfer the funds to my bank account?

A friend of mine gave me two bitcoins which I now want to sell. I don't understand the process which would enable me send the funds generated to my bank account.
0
votes
1answer
308 views

Is it safe to store seed phrases (private keys) in a bank vault?

If written on a piece of paper, would the recovery seed phrase or questions for accessing a collection of web wallets and hardware wallets be safe to keep in a mini vault drawer at the bank? Do bank ...
0
votes
1answer
43 views

Crypto Exchange that Offers Withdrawal to Banks in Saudi Arabia [closed]

I need any crypto exchange that offers withdrawal (cash) to banks in Saudi Arabia. There is one exchange that I know of is Fasset but it's still in its beta phase. I want to know if there's any other ...
15
votes
2answers
2k views

Why do so many bitcoin exchanges have their bank accounts closed and have problems establishing bank accounts?

I find it really strange that it happens that so many Bitcoin exchanges have their bank accounts closed. Outside of the Bitcoin world, I find it very unusual to have a bank account closed, for a ...
1
vote
4answers
963 views

Is mining the unfair part of bitcoin in the same way banks (or rather, fractionary reserve systems) are to current monetary system?

I've been reading a lot about bitcoin lately and I'm very interested. Especially, when it comes to making a currency that is way more fair, because it avoids a centralized control of it. However, in ...
-1
votes
1answer
5k views

How do i cash the money from my NiceHash account to Paypal or European Bank account?

In my nicehash i have balance of 100 Euro. How do i cash the 100 Euro now to Paypal or my European bank account or do receive via Westurn Union?
-3
votes
3answers
676 views

What are the quicker ways to use my bitcoins for paying in usual shops (off- or online)? [closed]

I have some bitcoins which I want to use for payments in the "usual" shops around me (not accepting bitcoins, but accepting plastic cards), and in a quicker way. Previously, I used http://metabank.ru ...
8
votes
2answers
36k views

How untraceable is Bitcoin?

Are Bitcoins truly untraceable or only pseudonymous to certain extents? For example: If somebody wants to buy Bitcoins with a Credit Card (e.g. through a third-party service) then they transfer them ...
0
votes
2answers
477 views

Is it fraud? Would banks ask for fees through bitcoin?

So a man came to me on Instagram saying that he wanted to buy old money specifically from Hong Kong for a museum in Philadelphia, and that he would pay me good money for my old coins and bills, then ...
0
votes
2answers
216 views

Transfer money from crypto account to normal bank account

I'm totally unknown about this topic so I come to all of you with my question. I sold something online and the buyer wants to pay me through his cryptoaccount. But then he told me that there is an ...
0
votes
2answers
300 views

Can Bitcoin be used in QuickBooks?

I'm wondering if I can manage my bitcoins with my other securities? Or incorporate them into a business plan.
6
votes
9answers
2k views

What happens when bitcoin loans start to appear?

What happens when bitcoins loans start to appear? Loans have interest rates that "create additional value". Given the limited amount of bitcoins, couldn't we realistically run out of them? ...
2
votes
1answer
2k views

Transfer btc from offline wallet bitcoin core to bank account

What are there the ways to legal transfer money from offline bitcoin core wallet to my bank account, if i have more than 100 btc?
3
votes
7answers
386 views

Justification of usage of Blockchain by banks

After learning a bit about Bitcoin and Blockchain Technology, I do not understand how any bank is going to use it. My understanding is that the blockchain is useful in an environment of mistrust. In ...
2
votes
1answer
40 views

How does Bitcoin get over the capital controls problem?

So, people now talk about Bitcoin as a store of value instead of as a currency. I'm confused as to how central banks will respond to this? Right now, bitcoin is not widespread. Assuming bitcoin ...
1
vote
2answers
1k views

Blockchain vs. Banks: which one has more affordable transaction fees?

Maybe one of the issues researchers are trying to solve in blockchain protocols like Bitcoin or Ethereum is removing / decreasing "transaction fees". However, if we compare blockchain transaction fee ...
1
vote
2answers
625 views

What are the “Know Your Customer” challenges that Bitcoin faces?

Can anyone explain what KYC (Know Your Customer) regulations are "missing", tough or impossible to implement with Bitcoin? I will offer a bounty to the most detailed answer (However this question is ...
1
vote
1answer
129 views

Why is the Winklevoss ETF decision so important, when this tracker certificate already exists?

The Winklevoss ETF and the SEC decisions regarding it seem to be on everyone's lips and the influence of the bitcoin price are apparent. However there seems to be this tracker certificate already: ...
4
votes
4answers
2k views

How does bitcoin manage the money supply?

All currencies are expanded when institutions begin loaning currency. How will bitcoin limit this growth? In economics there are several definitions of money such as M2, M3, etc.
0
votes
1answer
107 views

Do banks control ripple and how?

I would like to know how banks are controlling ripple. What are the implications with regards to transaction fees? If I sell my ripple, what do I stand to lose in terms of bank charges?
2
votes
1answer
5k views

Is it safe to authorize Coinbase to withdraw cash directly from my bank account?

I wanted to buy Bitcoin. Coinbase said that they could transfer money directly from my U.S. bank account and convert it to Bitcoin, and then I'd have a Bitcoin address and could give people Bitcoin or ...
1
vote
0answers
75 views

Doesn't bitcoin have the same inflationary problems as fractional reserve banking?

I keep hearing that Bitcoin is immune to inflation because You can't make more bit coins than some fixed constant of bitcoins through a process of mining. However, assuming enough people take it ...
-2
votes
1answer
157 views

Buying actual bitcoins vs derivative paper products? [closed]

I bought some bitcoins on Localbitcoins and Coinbase a few months ago, as a purely speculative "investment". Now I noticed that there is a Bitcoin certificate with 1:1 leverage available at the ...
1
vote
0answers
184 views

Exit Strategy: How to communicate / configure my fiat bank when selling large amounts of crypto in a short period of time

Anyone can readily see by my previous questions that I have virtually no idea what I'm doing. Be that as it may, it seems very realistic that I may become a bitcoin (multi?)millionaire within the next ...
0
votes
1answer
354 views

How many transactions can a bank/person make per block

I’m trying to determine if bitcoin is too expensive for a bank to use. Assume that a bank would use bitcoin for something like confirming transactions between itself and another bank I’m asking how ...
0
votes
1answer
75 views

Fees for transfering money by bitcoins and banks

When I send money to someone using the bitcoin network, I have to pay fees for converting my dollers to bitcoins in an exchange market, then I have to pay the miner fees then the Wallet fees to ...
0
votes
1answer
96 views

Bitcoin Vs Bank

Bitcoins are viewed as an alternative to traditional banking. There isn't a peer to peer passage of bitcoins. Like the banking agency is a mediator between the two people sending and receiving money; ...
2
votes
3answers
388 views

Do banks exchange bitcoins to traditional currencies

If someone was not concerned with the anonymity aspect of bitcoin, can he/she exchange traditional currencies to bitcoins and vice versa from banks? Do banks do this? and if not, why?
1
vote
3answers
4k views

Can trading be done on coinbase.com?

On coinbase.com I tried to sell some bitcoins and was told I had to register a bank account. I'd have expected that only if I were trying to withdraw dollars, euros, etc., from coinbase. On mtgox ...
9
votes
2answers
1k views

Why are banks and other centralized entities interested in block chains?

Apparently banks and other centrialized entities are interested in block chain technology. My question is, why? The whole point of block chains is for decentralized, trustless, consensus. Bitcoin, ...
1
vote
1answer
40 views

Like Banks, are there better service providers from Bitcoins banks? Can I Find a rating?

I would like to purchase Bitcoins, I am looking and honestly do not know what I am looking at. Is there a place to see how these Bitcoin places are rated? Services they provide?
1
vote
0answers
112 views

How do people in developing countries buy Bitcoin?

When there are only bank accounts of small bank institutes in undeveloped countries, how do people there buy Bitcoins? When there are only limited possibilities for global money exchange, how can ...
0
votes
2answers
174 views

Blockchain implementation in banks

Implementation of Blockchain in banks is said to be the new trend now. My question is: Would the private blockchain be kept private in a bank or will it be shared among a group of banks (or even ...
0
votes
1answer
368 views

How is bitcoin sent into my bank account?

I've been trying to find a way to transfer bitcoins from my bitcoin wallet into my bank account, I've gone to a couple sites that kinda use a similar method, but I don't really understand how it works....
1
vote
1answer
609 views

Do all Banks and Credit Unions in the U.S. accept Bitcoin?

Do all Banks and Credit Unions in the U.S. accept Bitcoin for deposits or withdraws?
3
votes
1answer
309 views

How do traditional transactions take place (paypal, banks, etc) in comparison to Bitcoin transactions?

Here we talk about bitcoins and blockchain. It is said they are more secured, and people ask questions about how they are implemented. Since I am a complete newbie to blockchain, and I don't know ...
34
votes
6answers
3k views

What would a country adopting Bitcoins as official currency have to reinvent?

Let's say that a country decided to ditch their currency and go for Bitcoins. What would this country have to reinvent. The reason why I ask, is because I believe that if a tiny country was to adopt ...
0
votes
3answers
246 views

Can I force my company to pay me in Bitcoin

I just got my bank account closed. Reason: International payment were not supported I don't like to waste my time in bank formalities. I am a programmer. I wish to stay technical for most of the ...
15
votes
5answers
69k views

How can I convert bitcoins to Indian rupees and vice-versa?

How can I convert bitcoins into Indian rupees (INR) and get them in paper rupee notes?
1
vote
1answer
194 views

why banks are trying consensus algorithms like ripple

I am wondering that why do we need consensus algorithm like ripple if all the nodes in a system is honest. There won't exist an use case of double spending. I am asking this question because recently ...
11
votes
7answers
40k views

Can I buy stocks with Bitcoin? [closed]

I have got some USD balance with a Bitcoin exchange. I intend to buy stocks for these USDs. Is there an online broker that accepts Bitcoin as a deposit option for stock market trading? I mean the ...
1
vote
2answers
409 views

Send Bitcoin payments to any bank via API

I am looking into paying our overseas suppliers via bitcoin to speed up the process of settling invoices. The issue is that I don't want them to have to deal with bitcoin themselves. My question is -...
2
votes
2answers
120 views

I am looking for a reliable and low cost way to make loan repayments from Asia to the US. Are there any banks in the US that will acept Bitcoins?

I'm looking for a reliable, low cost, transparent and efficient way to make monthly loan repayments from Asia to the US each month. Are there any banks in the US that will accept bitcoins? So, I'm ...
-3
votes
1answer
317 views

What prevents banks from printing electronic money?

I understand that this is not appropriate question but it obsesses me for a long time (other forums do not give certain answer) and I think that finantial cryptography experts should understand this ...
7
votes
5answers
3k views

Why there's no bank or institution lending Bitcoins?

To the best of my knowledge, there's no bank lending in bitcoins, yet, which surprises me. Now that Bitcoin has stabilized to circa USD $100, I think it could be reasonable for an institution to start ...
15
votes
5answers
1k views

How would interest and fractional reserve banking work in a limited money supply?

Suppose Bitcoin lenders (banks, creditors, investors) issue loans with interest. As the total supply of bitcoins approaches the 21M ceiling, the total amount owed in outstanding interest will exceed ...
0
votes
1answer
72 views

How could Bitcoin lending be secured? [duplicate]

I have been thinking a lot about platforms that allow us to borrow/make money. Such a platform would be really wonderful, mainly for people in countries such as Brazil, which has high taxes on ...
35
votes
9answers
12k views

Is there a Bitcoin bank, which gives interest on my deposit?

Is there any Bitcoin bank I can place my Bitcoins in that will give me a decent interest rate. It should be at least 1% for it to be worth it.
1
vote
0answers
87 views

Banking partners with UK Faster Payments [closed]

What is the easiest way to have access to UK Faster Payments facilities as a Bitcoin business? The UK banks have been quite hostile. Can Bitcoin businesses have access to the Faster Payments network ...
3
votes
2answers
685 views

Strategies against Bitcoin

With the recent increase in articles about the threat of Bitcoin vs central banks, government and other authorities over the money supply, I am wondering how well authorities are prepared and actively ...