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Bitcoin Friendly Banks 2018

Digital Currency Group Invests In Bitcoin-friendly Silvergate Bank

Digital Currency Group Invests In Bitcoin-friendly Silvergate Bank

Digital Currency Group Invests in Bitcoin-Friendly Silvergate Bank Feb 27, 2018 at 10:00 UTC|UpdatedFeb 27, 2018 at 10:04 UTC Cryptocurrency venture capital firm Digital Currency Group (DCG) has confirmed an investment in Silvergate Capital Corporation, the holding company of the bitcoin startup-friendly Silvergate Bank. According to an announcement from Silvergate, the firm said Monday that it sold 9.5 million shares through a private placement generating $114 million in total - funds that will be used to further support the bank's fintech deposit initiatives. Although the announcement did not disclosed any investors, Barry Silbert, founder of DCG, confirmed the firm's participation in the sale via an email to CoinDesk, following an official tweet. We are thrilled to welcome Silvergate Bank to the DCG family of companies DigitalCurrencyGroup (@DCGco) February 26, 2018 While the amount of investment remains unknown, the move by DCG is notable given Silvergate's known stance in supporting cryptocurrency startups. As early as in 2014, the cryptocurrency industry has encountered challenges in receiving banking services from traditional financial institutions, with many banks refusing to open accounts for crypto firms, or abruptly closing accounts without explanation. Silvergate Bank, however, offered bank accounts to bitcoin startups, even while others shied away from bitcoin-related clients due to risk concerns. According to a previous CoinDesk article , Silvergate Bank was supporting 15 cryptocurrency startups as of May 2016. Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Silvergate Bank. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set Continue reading >>

Btc Friendly Banks In The Us : Bitcoin

Btc Friendly Banks In The Us : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

The Best Bitcoin Exchange Of 2018

The Best Bitcoin Exchange Of 2018

Its all about reputation, currency support and transaction fees A Bitcoin exchange is a digital marketplace for users to buy and sell Bitcoins using different currencies. The Bitcoin can be exchanged for either fiat money (legal tender) or other alternative cryptocurrencies such as Ethereum. The exchange serves as the middleman for traders of the cryptocurrency. Being able to purchase Bitcoin is the initial step to trading in it. Just like trading a stock, Bitcoin exchanges charge transaction fees, which range from 0 to 1%. In order to trade Bitcoin on an exchange, the user needs to have an account, and go through a series of steps to be verified. Remember that Bitcoin and alternative cryptocurrencies are a completely digital currency, and there are no physical Bitcoins. However, before plunging in with both feet, users should be aware of what to look for in choosing a Bitcoin exchange for their cryptocurrency transactions. This is analogous to the issues and potential pitfalls in making a choice of where to do your banking, or open an online brokerage account. Furthermore, bear in mind that unlike banks and stock trading, Bitcoin trading is largely unregulated by most countries, although this is changing as its popularity increases. A good place to start is to look at the virtual coins which are supported by an exchange. With over 4,000 cryptocurrencies, and additional ones being added all the time, it is key to figure out which currencies you want to trade in, and then match the exchange that deals in those. For example, Ethereum mining has recently become more popular, but not all Bitcoin exchanges support this alternative cryptocurrency. Bitcoin vs distributed ledger vs Ethereum vs blockchain explained Next look at the country that is hosting the Bitcoin exchange. Continue reading >>

Us Banks Closing Customer Accounts Using Bitcoin And Other Cryptocurrencies

Us Banks Closing Customer Accounts Using Bitcoin And Other Cryptocurrencies

US Banks Closing Customer Accounts Using Bitcoin and other Cryptocurrencies We have several threads discussing this topic. This is the only one I could find but I know there are others as I have responded to them, but I think they were discussions that were sparked from a different topic. Banks Closing Accounts Because People Bought BTC?!?!?!? BITCOIN Found this article, and I mean I get that BTC is their direct competition and the next step of financial evolution. But buying BTC couldnt breach TOS with the bank, right? This has been happening for a long time. One of my most recent run ins with this was when I helped save a customers account because I had access to the banks management and was able to explain to them what Bitcoin was, what Coinbase is, and how it is legal for the time being (this last part is because the governments have shown time and time again they can change their minds on a whim). It is all about education. The smaller your bank is the more likely you are able to talk with the management and do what I did above. The larger banks you really have no say and cannot do anything about it. As @peter s last Crypto on the streets showed most of the population have no clue what bitcoin is. It is because of this the bank doesnt care if they lose you as a customer. I bank with USAA which is very friendly with Coinbase/Crytpos as some of their board members are invested in BTC and because of that they formed a relationship with Coinbase. That relationship allows for me to access/view my coinbase holdings from with in my USAA accounts page. I highly recommend if you have access to USAA you use it. It is limited to who has the ability for a membership but definitely worth looking into if you have any family members who were military or yourself. Continue reading >>

Bank Of America, Citigroup Reviewing The Use Of Credit Cards To Buy Bitcoin

Bank Of America, Citigroup Reviewing The Use Of Credit Cards To Buy Bitcoin

Bank of America, Citigroup reviewing the use of credit cards to buy bitcoin Bank of America is reviewing policies that allow customers to buy bitcoin with credit cards. Citigroup is also reviewing its policy, just as Capital One Financial earlier this month decided to prohibit cryptocurrency purchases. J.P. Morgan Chase is still allowing customers to buy cryptocurrencies with their Chase credit cards, the bank told CNBC. The bank did not respond to a question about potential changes to that policy. A woman touches an ATM machine for digital currency Bitcoin in Hong Kong on December 18, 2017. Friction is increasing between some credit card companies and customers who want to use the cards to buy cryptocurrencies. Bank of America and Citigroup are reviewing policies that allow customers to buy bitcoin with credit cards. The reviews follow news about two weeks ago that Capital One Financial has decided to prohibit cryptocurrency purchases. Toronto-Dominion Bank subsidiary TD Bank also confirmed to CNBC that some bitcoin transactions aren't being processed, as a result of security measures. Discover Financial Services has effectively prohibited cryptocurrency purchases with its credit cards since 2015. The Wall Street Journal first reported news of Bank of America's cryptocurrency review Thursday. Money laundering appears to be a factor in the financial firms' concerns about dealing with cryptocurrencies. Discover CEO David Nelms said in a Bloomberg report Wednesday that financing purchases of cryptocurrencies creates headaches for banks that are required to monitor transactions for money laundering. J.P. Morgan Chase is still allowing customers to buy cryptocurrencies with their Chase credit cards, the bank told CNBC. Chase did not respond to a question about potential ch Continue reading >>

4 Bitcoin Friendly Payment Platforms For Businesses In 2018.

4 Bitcoin Friendly Payment Platforms For Businesses In 2018.

Described as a complete ecosystem that provides hassle-free physical realization of your digital wealth and a risk-free investment environment to trade or exchange digital currency, UQUID is a payment platform that bridges the gap between cryptocurrency and fiat currency. It allows users to earn, save, and spend Bitcoin as well as 90 other cryptocurrencies . One of the companys most popular ways of using Bitcoin is through its Bitcoin debit card. Working just like an unlimited credit card , the Bitcoin debit card allows customers to pay for any goods or service online, over the phone, or through the mail. The card is connected to the Bitcoin system and allows cardholders to obtain the real Bitcoin market price and securely pay without any hassle. Recognized as one of the most popular Bitcoin payment platforms since 2011, BitPay allows anyone to receive payments in Bitcoin directly to your bank account. The purchaser can choose to pay with Bitcoin and they pay the BitPay invoice at the locked-in exchange rate. BitPay then converts the Bitcoin to either US dollars, euros, Great British pounds, Mexican pesos, Australian dollars, New Zealand dollars, or South African Rands. This is then deposited directly into your bank account, avoiding any volatility risk. BitPay is available in 33 countries and adds two-factor authentication, invoicing in 40 languages, and ledger payment tracking. You can even use the application to provide Bitcoin refunds and manage under or overpaid invoices. If youre a business looking to accept payments in the form of Bitcoin, Coingate can help you reach your goal. The application allows businesses to accept Bitcoin or receive payments converted into US dollars or Euros. Essentially, the business owner sets the value of the product or service and Co Continue reading >>

Bitcoin Atm Banking How To Find A Bitcoin Friendly Bank

Bitcoin Atm Banking How To Find A Bitcoin Friendly Bank

Bitcoin ATM Banking How To Find a Bitcoin Friendly Bank Bitcoin ATM , Bitcoin ATM Regulation , Operating bitcoin ATM operating bitcoin ATM CoinATMRadar In this article we look at one of the most important problems bitcoin ATM operators have finding bank relationships and opening a bank account. At the end of the post there is a company mentioned that provides services as intermediary and connects bitcoin ATM operators directly with bitcoin friendly banks also providing additional services on the way. Disclaimer: We are not affiliated with this company, please do your own due diligence before entering in relations. The material is posted and contacts are provided because in our opinion it brings a value for many operators who potentially need banking relationships, but struggle to find it. Traditional banking industry non-friendliness towards bitcoin ATM operators As Bitcoin continues to increase in popularity, the installation and use of bitcoin ATMs has surged in recent months with 5-7 popping up every day on average . Unsurprisingly, banks are not happy about being made obsolete and are trying to clamp down on cryptocurrencies after initially dismissing them out of hand. US banks now openly retaliate against the decentralization of the financial system by refusing services to cryptocurrency related businesses and many large banks have banned their customers from purchasing cryptocurrencies using their credit cards or even directly to wire funds to exchange. The combination of the increased demand by consumers and denial of banking services for cryptocurrency businesses presents a complex problem that bitcoin ATM operators must solve in order to expand operations accordingly. One recent example is finish company Prasos, who also runs largest bitcoin ATM network in Fin Continue reading >>

Central Banks Will Hold Bitcoin And Ether In 2018: Blockchain Ceo

Central Banks Will Hold Bitcoin And Ether In 2018: Blockchain Ceo

2018 will be the year that central banks hold digital currencies: Blockchain CEO Global central banks will start holding digital currencies in the next year, the chief executive of a cyrptocurrency wallet platform told CNBC Monday. "I think this year will be the first year we start to see central banks start to hold digital currencies as part of their balance sheet," Peter Smith, CEO of Blockchain, told CNBC. Smith said that central banks would likely buy bitcoin and Ethereum as part of their reserves. Central banks hold gold and foreign currency reserves to allow them to act if there are any market shocks. The rise of bitcoin as an asset could mean some monetary authorities will have to begin holding it. "Bitcoin is already a top 30 currency by supply, and this trend, and pressure to hold digital currency as part of reserves will only accelerate as the price rises," Smith said. There is a growing chorus of voices suggesting that cryptocurrencies could be bought by central banks. In an opinion article on Coindesk , Eugene Etsebeth, a former central banker with the South African Reserve Bank, said that cryptocurrencies will fulfill a new requirement as "digital gold." "In 2018, G-7 central banks will witness bitcoin and other cryptocurrencies becoming the biggest international currency by market capitalization," Etsebeth wrote. "This event, together with the global nature of cryptocurrencies with 24/7 trading access, will make it intuitive to own cryptocurrencies as they become a de-facto investment as part of a central bank's investment tranche." He added that cryptocurrencies would be used in international trade. Blockchain's Smith, who spends time speaking to regulators, took it a step further and said central banks could start to issue their own "digital assets" nex Continue reading >>

Digital Currency Group Welcomes Bitcoin-friendly Bank To The Dcg Family

Digital Currency Group Welcomes Bitcoin-friendly Bank To The Dcg Family

Digital Currency Group Welcomes Bitcoin-Friendly Bank to the DCG Family This week the bitcoin-friendly financial institution Silvergate Bank sold 9.5 million shares that raised a sum of $114Mn USD during the common stock sale. Some of the capital injection was provided by the venture capital firm Digital Currency Group who welcomed Silvergate Bank into the companys growing list of partners and subsidiaries. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Bitcoin-Friendly Bank Raises $114 Million in Private Placement Silvergate Bank is a financial institution that has bolstered bitcoin-based companies for quite some time. Silvergate was known for providing banking services to crypto-startups when other banks refused to work with those types of companies. According to the company, the bank has a relationship with fifteen cryptocurrency-focused businesses, and in April of last year, Silvergate collaborated with the blockchain surveillance company Elliptic. Moreover, back in 2014 the president and CEO of Silvergate Bank, Alan Lane discussed bitcoin at California Bankers Association meetings. On February 26 Silvergate revealed it had raised $114Mn and the funds will promote further growth in a nationwide financial tech deposit initiative. Our recent private placement is a major milestone in the history of Silvergate, increasing our equity capital by over 120%, said Dennis Frank, Silvergates chairman during the announcement. However, the investors who helped raise the capital were not disclosed throughout the banks press statements . Our greatly increased capital base will support our growth and enable us to continue making investments in technology and people that will improve efficiency and productivity, and expand the products and services offered t Continue reading >>

Here's Where All The Uk's Major Banks Stand On Buying Bitcoin

Here's Where All The Uk's Major Banks Stand On Buying Bitcoin

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Business Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our facebook linkedin twitter email copy link As bitcoin and other cryptocurrencies rise in popularity and their prices swing wildly , so too are they entering the consciousness of mainstream financial institutions. Not only are big banks looking at the applications of bitcoin and the blockchain technology attached to it, so too are they worrying about the impact the volatility could have on their customers. This is particularly true when it comes to people using credit cards to speculate on bitcoin. Although there is only anecdotal evidence of this, there is believed to be a growing number of people maxing out their credit cards to buy cryptocurrencies in the hope that their price will appreciate. Banks are concerned that wild swings in cryptocurrency prices will expose their customers to heavy losses, making them unable to repay their credit card debts. As such, some lenders have barred their customers from using credit cards to buy cryptocurrencies, with American banks JPMorgan Chase, Bank of America, and Citigroup leading the way. A number of UK banks have now followed suit, but which ones? Business Insider asked all the UK's major high street banks for their positions on allowing customers to buy cryptocurrencies on credit. Check them out below. Continue reading >>

What Banks Do Accept Bitcoin? - Updated 2017

What Banks Do Accept Bitcoin? - Updated 2017

Get a free valuation to better understand your business's value & position yourself for acquisition. 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 authors 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 didnt realize at the time of posting their answers didnt 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 doesnt see it that way. Bitcoin profits are taxed as capital gains. So if youre 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: Buy bitcoin instantly where there are over 300 way Continue reading >>

Bitwala Launching Full-fledged Crypto-friendly Banking Service With Debit Card

Bitwala Launching Full-fledged Crypto-friendly Banking Service With Debit Card

Click here to view original web page at news.bitcoin.com Bitwala has announced that it is launching a new banking service with real debit cards. Its application with the Federal Financial Supervisory Authority of Germany (Bafin) is pending. Once approved, customers funds will be guaranteed up to 100,000. The move follows the suspension of the companys prepaid Visa cards. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Blockchain-based payment service provider Bitwala announced on Monday that it is building an online bank account service, enabling a seamless transition between the crypto and fiat worlds. The account combines all the features of traditional banking with the crypto economy, the company added, noting that We aim to introduce the new Bitwala accounts to the world within the next few months. The company says it has over 57,00 users currently in over 200 countries. Prospective customers can now pre-register for this new service, Bitwala detailed, elaborating: In the next few months, we will be building a full-fledged German bank account that will come with a German IBAN, BIC along with a real debit card from MastercardYour funds up to 100,000 will be guaranteed. Bitwala accounts will be fully regulated by the Federal Financial Supervisory Authority of Germany (Bafin), the company stated, adding that its application is currently pending. With Bafins approval, the deposit guarantee scheme of German banks will guarantee customers funds of up to 100,000 (~USD$123,000). Bitwala claims that its accounts will be the perfect solution for those seeking secure and crypto-friendly banking services. Customers will be able to buy and sell cryptocurrencies as well as manage their daily expenses and setting up direct debits, the company explained. The Continue reading >>

Bitcoin And Banks 2018 I Threatened Or Interested - Updated Analysis

Bitcoin And Banks 2018 I Threatened Or Interested - Updated Analysis

Banking systems, all over the world, have controlled the loanable funds market, volatility of a currency, the money supply, inflation and the list can go on and on. These usually result in a number of regulations and expenses on society, because of which people have always wanted to be somehow independent of these frames set by certain systems. In 2009, the founder(s) of Bitcoin managed to come up with an idea that could give people the freedom they wanted, drastic reduction of fees that people have paid to banks for ages, as well as by making transactions as fast as a few seconds. Bitcoin was created as a cryptocurrency by an entity, which is recognized as Satoshi Nakamoto . In contrast to the centralized traditional systems, such as banking, which is in charge of issuing a certain currency, Bitcoin has a decentralized, peer-to-peer system and anyone including you can be involved in the process of issuing Bitcoins. Bitcoin allows two parties to exchange value virtually without any loss of value or having to pay a third party. There is no need for centralized control for transactions with Bitcoins and people can exchange goods and services within milliseconds. What is the difference between Bitcoin and banks? Bitcoins and banks are fundamentally different from one another. Bitcoins, just like commodity money, have a finite supply. The supply of the Bitcoins are blocks with complex algorithms, which have to be solved, and when they are the reward is a certain amount of Bitcoins. The process is known as mining and the people who do it are the miners. The price of the Bitcoins is usually decided by the supply and the demand of this currency, and it goes up as the algorithms are harder to solve and there are tons of people who want to become a Bitcoin owner. When someone s Continue reading >>

'bitcoin Bank' Metropolitan Halts Crypto Wire Transfers - Bitsonline

'bitcoin Bank' Metropolitan Halts Crypto Wire Transfers - Bitsonline

Bitcoin Bank Metropolitan Halts Crypto Wire Transfers Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: Metropolitan Bank Bitcoin Accounts Now in Doubt The news is particularly significant as Metropolitan had a reputation for being bitcoin-friendly, even earning the nickname The Bitcoin Bank. Fortune reported that the operator of an investment firm received notice from Metropolitan Bank last Thursday that it was ceasing all international crypto-related wire transfers to and from the bank, effective immediately. The move, Fortune said, was due to an international fraud incident involving one of its clients presumed to also be crypto-related, though the bank did not say explicitly. The freeze highlights a problem legacy financial institutions have in dealing with bitcoin and digital assets, while following strict international compliance regulations. Its a problem for cryptocurrency companies too IdentityMinds Neal Reiter said in a recent podcast interview that Coinbase was dealing with 20 times the fraud of PayPal. This is why exchanges need to prevent fraudulent activity on their platforms. Bitfinex'ed ? Crypto Blockchain (@Bitfinexed) January 14, 2018 The Bitcoin Bank Usually Doesnt Have a Problem With Cryptos Coinbase uses Metropolitan, among other banks, for transfers to and from the exchange, and its Shift bitcoin debit card. The benefit wasnt all one-way some commentators said the recent rise in bitcoin and cryptocurrency popularity was fueling Metropolitans success. Much of that was likely coming via Coinbase, the most popular crypto exchange and payments platform in the U.S. and the rest of the world. So the banks sudden move to shut out crypto-related transfers wasnt a problem with its corporate culture. More Continue reading >>

New Crypto-friendly Bank Accounts (from Wirex).

New Crypto-friendly Bank Accounts (from Wirex).

New Crypto-Friendly Bank Accounts (From Wirex). A hybrid personal finance platform that bridges old world banking and new world crypto. A solution that actually works in favour of Cryptocurrency mass adoption while many of us still depend in various ways on traditional FIAT money Yes, it includes REAL bank accounts... REAL debit cards (not prepaid cards)... AND multi-currency crypto wallets unified on one platform, manageable via desktop or mobile. When the principle of Satoshis original post was against the credit bubbles and control of centralised banking: Andreas Antonopoulos recently described a necessary return to centralised banking services using cross-chain payment rails to ensure crypto payments are kept low, while bitcoin itself serves as a storage of value. Making each individual their own central bank in control of their own financial wellbeing and mastery, while tapping in to various global services as desired. Giving people the ability to choose the level of privacy, autonomy, and access they want based on their own unique situation, and the current stage of global blockchain adoption. (One example of Andreas discussing off-chain banking is at at 18:20 on ) And Wirex is working hard to deliver on that vision of hybrid crypto-friendly banking services that position each individual as their own central bank. No, just a matter of time as blockchain projects develop over the next few years. We believe crypto-friendly banking serves the 2018 market to encourage mass adoption. Today, were excited to announce early details of an entirely new fully-integrated crypto finance solution that will be available in Q1: Receive salary or any payments direct to your Wirex account Exchange fiat into bitcoin (and top altcoins) at any time. High volume limits. No waiting tim Continue reading >>

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