What if Banks let us deposit through USDT ?

[Bond07 166]

In crypto world, USDT  is the best stable coin and it is almost equal to USD ( United States Dollar). We can't ignore bank because of crypto world as we also need it to control our fiat money. If banks include the crypto USDT in their currency list besides the USD, we can easily take money in our nearest bank and make withdrawals through banks ATM Cards. This will also be helpful for banks owners because they are getting more capital easily. If Erc20 usdt can't be added due to the high fees and transaction time, they can add Trc20 USDT because it is very fast and we don't need any transaction fees. What about your opinions friends? Doesn't my thoughts deserve a love from you?

Edited November 12, 2020 by Bond07

[Masterrex 559]

Just now, Bond07 said:

In crypto world, USDT  is the best stable coin and it is almost equal to USD ( United States Dollar). We can't ignore bank because of crypto world as we also need it to control our fiat money. If banks include the crypto USDT in their currency list besides the USD, we can easily take money in our nearest bank and make withdrawals through banks ATM Cards. This will also be helpful for banks owners because they are getting more capital easily. If Erc20 usdt can't be added due to the high fees and transaction time, they can add Trc20 USDT because it is very fast and we don't need any transaction fees. What about your opinions friends? Doesn't my thoughts deserve a love from you?

IMHO, I think banks are not allowed that to happen because they can't earn on USDT deposits, on the other the USDT had some red flags that set an alarm and many questions that surface lately about if the USDT is truly back by Fiat in 1-1 basis things like that making me nervous that's why I started to use BUSD instead of USDT.

[1qDan 478]

I think that the only currency that has the possibility of becoming functional within banks is XRP, since it is the only one that has a centralized network and with a low commission for performing operations when transferring funds.

 

In addition, for USDT to be integrated, they will have to request authorization from the United States, since the designation of the currency is similar.

[Nezar 7169]

It is very good for banks to rely on usdt, as this matter will enable us to obtain this currency in exchange for the currencies of the countries they reside in, but I think that it will be very difficult for this to happen because most banks cannot rely on cryptocurrencies.

[Bond07 166]

16 minutes ago, Masterrex said:

IMHO, I think banks are not allowed that to happen because they can't earn on USDT deposits, on the other the USDT had some red flags that set an alarm and many questions that surface lately about if the USDT is truly back by Fiat in 1-1 basis things like that making me nervous that's why I started to use BUSD instead of USDT.

I know they can't get deposit profit from usdt. But when we will add money on bank through usdt, we need to withdraw it also. They will earn profit then. And if it happens we are not only selling them usdt, we will also buy it from them with our fiat money . They can charge a little fee for this. I still think this is possible.

[Khan 1414]

The possibility of that is ZERO because countries of the world is not allowing the Crypto as legal and they are already facing huge issue by the use of crypto as they are not able to trace.

[muniral4422 185]

I don't think banks would ever make use of USDT as part of their currencies. This is because, they can't do anything except what the central bank ak them to do. They are on supervision by the central bank and so they can't do anything like that.

[BrolySSJ 7899]

Most banks are against the use of crypto and se they are unlikely to adopt the USDT coin into their banks for investments, however there are many banks that are starting to offer crypto as a means of payment, so I think that in the long run this may very well be a possibility. Your thoughts are correct though, as much as it is would benefit the user i think that it will also benefit the banks as well in terms of an extra avenue of income. Banks nee to see that people continue to use crypto and in order to profit from this use they should be offered at banking institutions as well. This, in my opinion, is a very important step in bridging the gap between fiat currency and cryptocurrency. 

[Mike1515 2977]

That is impossible unless all the banks agree, there are , so many ways to which banks can resolve this , they have building up a good coin that can be adopted across the board, and it might happen soon there are several countries to which a country can adopt bitcoin , that is to take a good slot to understand the challenges that come with it so we need to be very careful

[nykas 2812]

USDT is a very comfortable way of money transfers and payments, but I don't think banks will do it, because USDT is a cryptocurrency and related to cryptocurrency world, but most governments restrict banks to work with crypto and blockchain because of some misunderstandings about it 

[Syedbesharat 5423]

Acceptance of USDT in bank could be possible when crypto get legality where the bank can add USDT as payment for users. But USDT coin have many law suits and looks like on no time it will shutdown like paiza money farm. So always prefer BUSD, XRP whose prise also stable most of the time. You can use perfect money as well. 

[babaji 1228]

The problem is not what USDT offers or crypto in general offers. The problem is what it takes away, and that got every govt. scared. There is no doubt that, crypto offers a huge list of benefits, but the decentralised nature of crypto, takes away, the power from the corrupt govts, and that is a big problem for the governments. 

[godislovefll 1880]

On 12/11/2020 at 10:18, Bond07 said:

En el mundo de las criptomonedas, USDT es la mejor moneda estable y es casi igual a USD (dólar estadounidense). No podemos ignorar al banco debido al mundo de las criptomonedas, ya que también lo necesitamos para controlar nuestro dinero fiduciario. Si los bancos incluyen el cripto USDT en su lista de divisas además del USD, podemos retirar dinero fácilmente en nuestro banco más cercano y realizar retiros a través de las tarjetas de cajero automático de los bancos. Esto también será útil para los propietarios de los bancos porque obtienen más capital fácilmente. Si no se puede agregar Erc20 usdt debido a las altas tarifas y al tiempo de transacción, pueden agregar Trc20 USDT porque es muy rápido y no necesitamos tarifas de transacción. ¿Qué hay de tus opiniones amigos? ¿No merecen mis pensamientos un amor tuyo?

Good point, so we would avoid so many transactions to be able to withdraw our usdt to our bank, because as you say it would be directly from the bank and we simply would not have to make any conversion but simply withdraw immediately or pay any product by bank card. It would be fabulous, hopefully it will be achieved one day.

[Brandonsaw 1973]

Banks will not be able to have cryptocurrencies since there are already cryptocurrency ATMs and they are not from the bank of which everyone prefers ATMs than a bank since banks will not give cryptocurrencies opportunities to increase their money, exchanges are better.

[Maaz sultan 265]

6 hours ago, Syedbesharat said:

Acceptance of USDT in bank could be possible when crypto get legality where the bank can add USDT as payment for users. But USDT coin have many law suits and looks like on no time it will shutdown like paiza money farm. So always prefer BUSD, XRP whose prise also stable most of the time. You can use perfect money as well. 

I hears that some banks starts working with these future currencies and usdt token is accepting so many crypto platforms but we need to let starts a campaign to accepts these crypto currencies by bankers and as refer we need to give banks reference that already working with crypto currencies .

 

[Raven 7817]

I think USDT in bank is possible when crypto currency became legal in every country. This USDT in bank will help many people because it could less the transaction fees, you don't need to convert it to another currency to deposit or withdraw.

[jackycrypto485 1055]

There are really problems about USDT and I do not think that banks can accept dealing with this token, also the problem of high fees is another problem, banks love central and only accept central currencies, of course it would be good if banks accept USDT because that will have a big role in facilitating the transfer Cryptocurrencies to Fiat.

[Frodler 943]

These would be a very good development in the world of cryptocurrencies, if banks can allow for the deposit of USDT it will improve the ease of doing business among individuals and institutions 

[setifien 1016]

In case they accept usdt deposits, it's better for both crypto community and banks to accept btc (and other strong cryptocurrencis) deposits, this will increase the adoption of bitcoin by giant businesses 

[P A Ashif 2409]

Actually no banks allow as to directly deposit through USDT. Once I tried to deposit 10$ in a trading account. For that I have to install many apps and after going through so many apps I have spend almost 15$ to deposit 10$ in the platform. So see the problem. This will.be solved once USDT deposit can be done directly through banks.

[tienda 8776]

18 hours ago, Amelia23 said:

I don't think we've reach a point where banks can allow deposit of crypto currency. First of all crypto currency is decentralized and banks cannot really control the flow of this currency also banks will try to promote their own fiat currencies instead of using crypto currency.

You are right @Amelia23 first they need to regularize the cryptocurrency and then sure will be a high competition between the banks because of cryptocurrency. And it is possible in the future each country will create his own cryptocurrency and maybe also every bank will use their coin or adopt other currently coins.

[yulitzacalvete 1366]

El 11/12/2020 a las 10:26, Masterrex dijo:

En mi humilde opinión, creo que a los bancos no se les permite que eso suceda porque no pueden ganar con depósitos en USDT, por otro lado, el USDT tenía algunas señales de alerta que activaron una alarma y muchas preguntas que surgen últimamente sobre si el USDT realmente ha regresado por parte de Fiat en 1-1 cosas como esa me ponen nervioso, por eso comenzó a usar BUSD en el lugar de USDT.

I do not see it as possible since each bank has its own currency which is backed by the government and it would be somewhat difficult to allow the freedom of the USDT cryptocurrency, therefore in my opinion I do not see it either currently possible.

[Braulio Eurea 720]

If banks allow deposits in USDT it would be fantastic because it would open the door to deposits with cryptocurrencies in traditional banks and that would be a starting point in the penetration of cryptocurrencies in everyday and traditional banking activities and would allow coexistence between the cryptocurrencies and fiduciary or physical money, this would produce the duality of the two existing payment systems, the traditional or state or the private one of recent data and that is based on the blockchain.

[Jermany 612]

It would be a very good thing but I think this is far from happening as cryptocurrencies are not accepted by some countries,

[Jromz 2158]

I don't think this is something feasible, the risk that banks would assume by enabling investments in USDT is just too high, because people behind USDT have not been able to convincingly show that every USDT in the market is backed by one dollar, as they claim. Then, if this turns out to be untrue, banks would face severe trouble with all investors.