Swiss Bank Got Approved for Crypto Trading

[Fixfin 2569]

The banks used to be enemies of crypto and jpmorgan was up front and now look at cryptocurrencies, Bitcoin, DeFi. They are the banks now. So maybe the financial inclussion can happen it just asks for people to find cryptocurrencies and not banks.

[kryptonick 2659]

It is impressive, just to think that all these years Bitcoin was seen as an outcast and just a form of internet money used to buy drugs in Silk Road. It wasn't anything like that and the true power is the powerful blockchain and the limited supply that made it in demand and has dynamics to reach a lot higher than today. It is an investment vehicle that can help all the cryptocurrency market reach adoption now through the banking system.

Edited October 23, 2020 by kryptonick

[Teminali69 1081]

It is a good thing but we still need to be very careful with these banks, they may adopt crypto but they are still  it, they are only doing it because there is no other way they can not stop it.

[Ridam 7455]

18 hours ago, Teminali69 said:

It is a good thing but we still need to be very careful with these banks, they may adopt crypto but they are still  it, they are only doing it because there is no other way they can not stop it.

@Teminali69 Yes banks are seeing good profit in dealing with Crypto and a good opportunity so that they have entered in Crypto. For me I take the custodial service as good startup for a company to adopt Crypto. And Talking about being careful yes we should be as we don't keep our private keys with us.

[Irungu 4299]

I think most of the time this is what we do , we need countries taking the innitiative to make sure that today we are able to really get into the serious part of everything, and so truly we need to have Nations looking at crypto currency as a serious story that can be told and in the end we need to follow the strategies that they offer

[Ridam 7455]

1 hour ago, Irungu said:

I think most of the time this is what we do , we need countries taking the innitiative to make sure that today we are able to really get into the serious part of everything, and so truly we need to have Nations looking at crypto currency as a serious story 

@Irungu Exactly. Crypto currency at some point needs help from government for the mass adoption. And as we are seeing positive response from the banks and many public institutions it will help others countries where Crypto is illegal to know real meaning of Crypto and it's usecases.

[zhoutong 2188]

I will not use banks to trade cryptocurrencies. I prefer to trade in the exchanges we have and we can trust Yobit more than our banks. Banks have very high fees for stocks and they just want to get fees from trading crypto. Also the crypto will never be ours but we will only have the bank holding them.

[Teminali69 1081]

On 10/24/2020 at 5:54 PM, zhoutong said:

I will not use banks to trade cryptocurrencies. I prefer to trade in the exchanges we have and we can trust Yobit more than our banks. Banks have very high fees for stocks and they just want to get fees from trading crypto. Also the crypto will never be ours but we will only have the bank holding them.

Me too i will not trade by using the banks they only want to take advantage of cryptocurrency for their own good and benefits as always, we should not let them take over again.

[Ridam 7455]

On 10/26/2020 at 2:36 PM, Teminali69 said:

Me too i will not trade by using the banks they only want to take advantage of cryptocurrency for their own good and benefits as always, we should not let them take over again.

@Teminali69 I also think that way. Trading with banks will be difficult task and sure a lot of paper works we will need to go through. But I'm happy for such news as due to banks involvement with Crypto currency, many people will get information about Crypto. And  Crypto adoption will happened at high rate with good support from all sides.

Edited October 28, 2020 by Ridam
Spelling mistake

[CryptoMaxim 3829]

There is nothing surprising in this. Now many people use crypto assets and for the Bank working with them is an additional profit.

[Shaza Ahmad 1682]

Some people are ready to trade cryptocurrencies from their bank account, frankly, I do not find a difference between it and trading on central exchange platforms, they both have private keys, but everyone has their point of view, some traders prefer decentralized exchange platforms like Uniswap even with the risk of losing everything they own...

[Cryptomint 433]

I think this is really a good news and this will help the cryptocurrencies world to grow up. And now it will get more popularity in world.

[Zafar123 906]

The Swiss Financial Market Supervisory Authority (FINMA) has authorized Gazprombank Ltd to offer cryptocurrency custody services as well as trading between crypto and fiat currency, according to a release published Oct. 29.

[godislovefll 1880]

This will always be good news despite the fact that currently there are not many countries with this initiative, so I see it very well thought out, and if this happens everything would be a little easier to do because we could operate directly from our bank account without many problems or processes from cryptocurrency exchanges to fiat money.

[Upright 2688]

Having to see banks now in the move to establish a blockchain network on theirs own have come as a result of preference in which many people have out on having to take hold unto Crypto basically as  a bank on their own, as if banks where never on accepting Crypto, you would have basically seen some decrease on the transaction in this Banks, as thus banks can  be as an exchange with Cryptocurrencies as the derivatives

[Abdul1168782 572]

It's really amazing for crypto users and this would open new doors for crypto trading and investment. And this will be amazing for crypto users and this shows that the government and banks are now thinking about the crypto to accept.

[abdullah553 1981]

On 8/9/2020 at 5:14 AM, Ridam said:

If we talk about the situation some time back, we were seeing a lot of bad response from the financial institution towards Crypto and that were the main problems in the road of mass adoption.

Time goes and now banks are being positive towards Crypto. As US and other countries have allowed banks to provide Crypto custodian service.
The interesting thing is that a private Bank of Switzerland named "Maerki Baumann" has got approved to start Crypto custodian service along with Crypto Trading Service by Swiss  Financial Market Supervisory Authority (FINMA). Initially they would offer trading in BTC, BCH,ETH, XRP, LTC.

Which is really a favour for Crypto industry. And banks have also realized the importance of Crypto currency after many banks being in loss due to the virus issue now.

 

What do you think about it? Are you ready to trade Crypto in your bank account? Any further information is welcomed.

News source-

https://news.bitcoin.com/government-swiss-bank-crypto-trading-custody-services/

Establishing a physical bank for the sake of digital currencies is a good thing. It offers a lot of financial benefits and speed in currencies through the adoption by banks of cryptocurrencies.

[Ameralsamt 2558]

This is great, dear, and it's the first global platform for accepting cryptocurrencies, all over the world, I think that soon cryptocurrencies will replace all local currencies, which is safer and easier to trade, it's great. 

[yulitzacalvete 1366]

On 8/8/2020 at 11:14 PM, Ridam said:

If we talk about the situation some time back, we were seeing a lot of bad response from the financial institution towards Crypto and that were the main problems in the road of mass adoption.

Time goes and now banks are being positive towards Crypto. As US and other countries have allowed banks to provide Crypto custodian service.
The interesting thing is that a private Bank of Switzerland named "Maerki Baumann" has got approved to start Crypto custodian service along with Crypto Trading Service by Swiss  Financial Market Supervisory Authority (FINMA). Initially they would offer trading in BTC, BCH,ETH, XRP, LTC.

Which is really a favour for Crypto industry. And banks have also realized the importance of Crypto currency after many banks being in loss due to the virus issue now.

 

What do you think about it? Are you ready to trade Crypto in your bank account? Any further information is welcomed.

News source-

https://news.bitcoin.com/government-swiss-bank-crypto-trading-custody-services/

For more rejection that cryptocurrencies receive, here we can see that every day they have no other option than to accept it, they are looking at the great potential that cryptocurrencies have, so they want to implement even their own cryptocurrencies.

[pablomarwan 3082]

This news may affect a host of things. The price of cryptocurrencies. Opinions of others and some countries. The youth category is directed towards this type of trade. It is the right time to start trading if you agree with you. But let's not look back. Put the possibility that you may not achieve things if you do not pay enough attention to your savings. Do not think about investing everything you own.

 

[Brushless4500KV 4214]

If I got it right, this news refers to the fact that one of the banks in Switzerland has showed green lights to cryptocurrency trading. Before this news, I had already heard that some banks are ready to offer crypto services to their customers but these services only included converting between fiat and digital coins. Now, a bank claims to provide trading service! Does it mean that Maerki Baumann Bank wants to start an exclusive crypto exchange for its own customers? If it is so, then it will be the most revolutionary measure any bank has ever done regarding crypto.

[Ridam 7455]

3 hours ago, Brushless4500KV said:

Now, a bank claims to provide trading service! Does it mean that Maerki Baumann Bank wants to start an exclusive crypto exchange for its own customers? If it is so, then it will be the most revolutionary measure any bank has ever done regarding crypto.

Yes bro I believe it's the same news as you have read but it's pretty old news , you can see the date of publication.

I don't have current updates but according to their initial planing they were to launch the Crypto Trading platform in centralised manner like most CEX does. Banks are coming for Crypto and Trading services and exactly it's revolutionary steps , others banks will definitely start providing if the idea got success.

[Syriana 350]

It is very important that a large bank be approved to deal in the cryptocurrency, so we must all prepare for the currency to rise, and in their turn, businessmen and major investors will try to access this currency and use it.

[Nicole018 4548]

The fact that cryptocurrency is are being accepted and used by many Central Bank specially that of Switzerland is really great news which would have a positive impact on the recognition of cryptocurrencies for other Nations also. let's hope that more steps and initiatives should be taken by the governments of other Nations also.

[mohamedpc1 2213]

Honestly, I do not trust such news because cryptocurrencies are unknown, in addition to many countries ban them, so it is difficult to risk and put my cryptocurrencies in government banks because it will be a big risk, and I do not advise anyone for  that .you can keep your own currencies in wallets .