Banks and cryptocurrencies. The change of an obsolete ideology or a new trap to continue to maintain control?

[Barbarellah 2225]

Today carrying out my study activities in the world of cryptocurrencies I came across the news that Belarusbank, the largest financial institution in Belarus, is studying the possibility of starting a cryptocurrency exchange service through a Visa payment card. According to the news, exchanges can be carried out using fiat money such as the Belarusian ruble, the US dollar and the euro to obtain cryptocurrencies and vice versa.

In particular, I think that news like this will significantly influence the rise in crypto prices, since many users who could not have access to them through their fiat money stored in this institution will soon have it. In conclusion, more users with access to cryptocurrencies translate into greater demand and consequently the rise in the costs of cryptocurrencies.

I would like to know your opinion about this new news and to know if this benefits or affects the community that works in Cryptotalk in any way?

Thank you for your participation, my friends, leaving me your opinions through your good answers!

[wassim19 645]

Good news has become continuous in the field of digital currencies, and most countries have begun to facilitate procedures for obtaining digital currencies.All of this will certainly contribute to the increase in demand for these currencies and thus the increase in their prices.

[Mosab73 333]

This is a good step for the crypto community for the Belarusian bank to adopt the cryptocurrency and provide the service of the cryptocurrency purchase system with a Visa card. This is a change in the bank’s ideology as we know that banks practice a fiscal central policy in their dealings with deposits and bank accounts and decentralize blockchain technology that conflicts with the bank’s policy.  So I think it is a change in ideology, not in control of the cryptocurrency

[Maaz sultan 265]

Yes i am in the favor of this decision because now we need to come to support these new currency system that need banks support and many countries accepting but how users get advantages .

[Amiami 1362]

This could affect the Belarusian community, since it offers an alternative, very similar to that of Binance and its crypto debit card, but answering your question, as it is not the first bank to do so,a couple of days chinese  bank offered debt in exchange for Bitcoin and in the same way many banks have established alliances with Ripple labs, what I mean is that their participation is not new, they just want a slice of the cake.

Edited November 14, 2020 by Amiami

[MuhammadSh 3067]

News like this would affect even on the volumes of the cryptocurrencies and not just on their prices in my opinion! when we read news like this we should really believe in the future of these cryptocurrencies projects and know that this crypto world is affecting directly on the current financial system! these news in addition to paypal news which they talked about before a few days are really some of the most important steps which happened in this crypto world! 

But the question is that , what would the affects would be like on the Belarusian people!? are they aware enough to know well how to use cryptocurrencies for their financial transactions or not. in my opinion , yes and this step is great for all of them! i would be glad to know your answers guys..

[Barbarellah 2225]

1 hour ago, MuhammadSh said:

News like this would affect even on the volumes of the cryptocurrencies and not just on their prices in my opinion! when we read news like this we should really believe in the future of these cryptocurrencies projects and know that this crypto world is affecting directly on the current financial system! these news in addition to paypal news which they talked about before a few days are really some of the most important steps which happened in this crypto world! 

But the question is that , what would the affects would be like on the Belarusian people!? are they aware enough to know well how to use cryptocurrencies for their financial transactions or not. in my opinion , yes and this step is great for all of them! i would be glad to know your answers guys..

I am very grateful! Excellent contribution my friend @MuhammadSh! Of course, this event will positively influence the behavior of the value of the cryptocurrency worldwide. And even more it will benefit the Belarusian people. What must be taken into account so that an eventuality like this instead of benefiting from a turnaround and the opposite results, has to do with training and education. Therefore, I think that Belarusbank should implement training and orientation programs for the entire participating community and thus ensure the success of this new adoption.

[Brandonsaw 1973]

It is a new change for humanity positively since we would no longer be controlled by the government since it would be impossible to manipulate and control cryptocurrencies I think that the countries that still do not accept cryptocurrencies is because they cannot be tracked and because cryptocurrencies especially  They use bitcoin to buy in black markets such as the deepweb, that is why some countries do not accept cryptocurrencies because they cannot be tracked and the originator cannot be known but very soon I hope they accept cryptocurrencies all over the world because it would be a further advance  for the humanity.

[hani20980 2706]

This is really a good move if that's happen it will help a lot bitcoin price to grow more

i wish that we can see more support from other countries

[Syedbesharat 5423]

From Russian bank support many people now can easily buy crypto and don't need to go for exchangers for digital currency conversion fro fiat. They just have to use the bank services and best thing is that they have 3 different fiat currency option for purchase. They can buy in any currency and easily get their favourite cryptocurrency. That's a great news for crypto users in Russia. 

Edited November 15, 2020 by Syedbesharat
Marged my post

[Khan 1414]

On 11/13/2020 at 9:51 PM, Barbarellah said:

Today carrying out my study activities in the world of cryptocurrencies I came across the news that Belarusbank, the largest financial institution in Belarus, is studying the possibility of starting a cryptocurrency exchange service through a Visa payment card. According to the news, exchanges can be carried out using fiat money such as the Belarusian ruble, the US dollar and the euro to obtain cryptocurrencies and vice versa.

In particular, I think that news like this will significantly influence the rise in crypto prices, since many users who could not have access to them through their fiat money stored in this institution will soon have it. In conclusion, more users with access to cryptocurrencies translate into greater demand and consequently the rise in the costs of cryptocurrencies.

I would like to know your opinion about this new news and to know if this benefits or affects the community that works in Cryptotalk in any way?

Thank you for your participation, my friends, leaving me your opinions through your good answers!

If the banks agree with the agreement of the crypto currency then there is also a chance that they will narrow down the circle around the crypto user and they will plan to catch them.

[JesusFries 1958]

On 11/14/2020 at 12:51 AM, Barbarellah said:

Today carrying out my study activities in the world of cryptocurrencies I came across the news that Belarusbank, the largest financial institution in Belarus, is studying the possibility of starting a cryptocurrency exchange service through a Visa payment card. According to the news, exchanges can be carried out using fiat money such as the Belarusian ruble, the US dollar and the euro to obtain cryptocurrencies and vice versa.

In particular, I think that news like this will significantly influence the rise in crypto prices, since many users who could not have access to them through their fiat money stored in this institution will soon have it. In conclusion, more users with access to cryptocurrencies translate into greater demand and consequently the rise in the costs of cryptocurrencies.

I would like to know your opinion about this new news and to know if this benefits or affects the community that works in Cryptotalk in any way?

Thank you for your participation, my friends, leaving me your opinions through your good answers!

In my opinion, this is a good news for the field of digital currencies. We have seen that there are a lot of retailers snd companies that allows the use of cryptocurrencies as a mode of payment. It is the right time for these banks to start embracing this huge development in the industry because they will surely benefit from it. 

[Cryptomint 433]

If the banks will accept the cryptocurrencies so it will be good for everyone and people will be easy to get the fiat from cryptocurrencies... Thanks.

[m7md 0]

It is not possible for banks or governments to fully monitor the movements of cryptocurrencies and their markets, as the decentralization that cryptocurrencies enjoy distinguishes them by this and this is what makes them very popular

[Ameralsamt 2558]

Of course, dear, to change the course of things and become the dominant cryptocurrency instead of banks this means changing the ideological has been exempted from history and became a thing of the past, cryptocurrencies are safer in our time this many banks steal daily, cryptocurrencies can not be easily stolen so they are the safest. 

[bogdanoff 3173]

Banks are interested as there is money to be made. The banks have many trading tools already and they could offer them to the public, but they will do that in a way that will help them make the most from it. If banks offer crypto, it will be only a number in your account and they will be in the custody of the cryptocurrency private keys.

[cryptovlek 2597]

I did not understand, the bank will buy cryptocurrencies as investment or it will offer to the bank account owners for trading? Either way it will help as it will increase demand. The size of investments also matters and probably it will be considerable coming from a bank.

[annayks 2314]

Banks figured it out. According to the ten year old brainstorming they realized they should stop fighting Bitcoin and just join the club. They have learned a lot since 2017 and now are able to make some moves in the market. They are still slow and hesitant but they will get in slowly.

[basel23 1722]

Confirming this is very good news, because if the exchange of cryptocurrencies in Visa cards is accepted, this will lead to a significant increase in the demand for cryptocurrencies, which will lead to an increase in the prices of cryptocurrencies.

[percare 3192]

On 11/13/2020 at 6:51 PM, Barbarellah said:

is studying the possibility of starting a cryptocurrency exchange service through a Visa payment card

 

On 11/13/2020 at 6:51 PM, Barbarellah said:

I would like to know your opinion about this new news and to know if this benefits or affects the community that works in Cryptotalk in any way?

Not affecting me, and I can't say it is something I enjoy to see banks having so much interest, maybe it will affect in negative way crypto exchanges as banks won't have to wire transfer money into them but have their own trading operations for cryptocurrencies.

[JesusFries 1958]

On 1/6/2021 at 4:45 AM, basel23 said:

Confirming this is very good news, because if the exchange of cryptocurrencies in Visa cards is accepted, this will lead to a significant increase in the demand for cryptocurrencies, which will lead to an increase in the prices of cryptocurrencies.

Well, there's a lot of exchangers and trading platforms which is accepting visa, mastercard. One of it is the binance, we all know that binance is a very popular trading platform in cryptocurrency and there's a lot of people using it, accepting the visa and mastercards can help their users to easily deposit some money.

[Ridam 7455]

Well, at the moment many banks are taking decision to regulate crypto or willin to do so. There is no doubt that, every such decision will have great Positive effect to the crypto community. As if banks allows crypto services, defenietly it will enable huge number of audience to interact with crypto currenices and invest in them. In the whole process it will be easier for them and most importantly it promotes to crypto.

[Lokeloke 576]

On 1/13/2021 at 4:09 AM, Majnoo said:

Uplifting news has gotten consistent in the field of digital currency and most countries have started to encourage methodology for getting digital currencies.All of this will positively add to the expansion sought after for these currencies and subsequently the increment in their prices.

Definitely it'll expand the integrity of cryptocurrencies, if after the day our debit card can be serve as exchange for us, there will just be an option for withdrawing from your fiat currency account or cryptocurrency account and you'll chose which one and withdraw without much problem, I think this is a nice innovation

[Sykkuno 2887]

The banks have a very bad name since it was the reason for the past economic problems of the world, as they were having a party with the money of people and they got away without having to pay the price of their actions, however lately there has been increased action to protect the public from bank discrepancies.

[scofield64 943]

This is really a great news for crypto community because one of the biggest financial institutions in Belarus is trying to adopt cryptocurrencies as means of payment this will add more value to crypto world.