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[NoLimits15]

The US Office of Currency recently passed a law that big banks can now act as crypto custodians and hold your bitcoin. So that means top banks like JPMorgan and Bank of America can hold the private keys to your bitcoin. But do you think this is a good idea since those fiat bank regulators have very little knowledge about bitcoin??

 

[Balint098]

Banks officials are no fools they will earn how to handle crypto very quick. Besides, this only apply for American citizens, not worldwide crypto users.

 

[Reznov]

it should be completely safe, they were holding real cash in the bank which is riskier to lose than crypto because it's something you can touch and it was still safe, so it should stay safe

 

[Josemendez]

The US Office of Currency recently passed a law that big banks can now act as crypto custodians and hold your bitcoin. So that means top banks like JPMorgan and Bank of America can hold the private keys to your bitcoin. But do you think this is a good idea since those fiat bank regulators have very little knowledge about bitcoin??

Am not from US , bit but I do prefer to hold my bitcoin in my wallet and sell them out when there is need . I don't see any reason to keep it with banks , that may even be charging me .

 

[Brain]

The US Office of Currency recently passed a law that big banks can now act as crypto custodians and hold your bitcoin. So that means top banks like JPMorgan and Bank of America can hold the private keys to your bitcoin. But do you think this is a good idea since those fiat bank regulators have very little knowledge about bitcoin??

For me if they can keep Fiat monies without issues I believe they can do same for crypto in their possession. So it a good one if the US handles the crypto.

 

[Wisdom01]

The US Office of Currency recently passed a law that big banks can now act as crypto custodians and hold your bitcoin. So that means top banks like JPMorgan and Bank of America can hold the private keys to your bitcoin. But do you think this is a good idea since those fiat bank regulators have very little knowledge about bitcoin??

If its been regulated then its safe to some extent, but its not everyone that likes that method some people prefer anonymous transaction in whatever they want to do

 

[Wisdom01]

This is great news. Everyone coming to the realization that bitcoin is the future. Although I am not a United States citizen, I feel super-safe handling my own cryptocurrency.

Its good you feel safe handling your own crypto currency, but the Us government are doing so to prevent those keys from losing incase the owner forgets his/her own

 

[Josemendez]

Its good you feel safe handling your own crypto currency, but the Us government are doing so to prevent those keys from losing incase the owner forgets his/her own

True but there is always a negative motive towards any business supported by a government .
The government stands the chance to gain from tax in near future from this establishment.

 

[Wisdom01]

True but there is always a negative motive towards any business supported by a government .
The government stands the chance to gain from tax in near future from this establishment.

Sure they will always find means of getting their benefit ,so if the government start applying tax to the establishment then I won't be surprise

 

[Josemendez]

To be on the safer side , you just need to have your own wallet , keep the seed safe and be the one to control everything by yourself .

Sure they will always find means of getting their benefit ,so if the government start applying tax to the establishment then I won't be surprise

 

[Josemendez]

To be on the safer side , you just need to have your own wallet , keep the seed safe and be the one to control everything by yourself .

Sure they will always find means of getting their benefit ,so if the government start applying tax to the establishment then I won't be surprise

 

[Wisdom01]

To be on the safer side , you just need to have your own wallet , keep the seed safe and be the one to control everything by yourself .

Sometimes people are careless , I have a friend that forgot his keys on trust wallet and he has up to $50 worth of bitcoin in the wallet now he has lost the amount he has so there need to be a way

 

[Josemendez]

Sometimes people are careless , I have a friend that forgot his keys on trust wallet and he has up to $50 worth of bitcoin in the wallet now he has lost the amount he has so there need to be a way

Well , the trick I do use to safe guard my keys , is to screenshot them and upload it to my google drive or email . with that I can get it when ever there is need .

 

[Wisdom01]

Well , the trick I do use to safe guard my keys , is to screenshot them and upload it to my google drive or email . with that I can get it when ever there is need .

Sure thats another method of storing those keys but if I am asked to keep my keys in the the bank , I wont try such thing because I don't trust anyone so I prefer to keep it my self

 

[Josemendez]

Sure thats another method of storing those keys but if I am asked to keep my keys in the the bank , I wont try such thing because I don't trust anyone so I prefer to keep it my self

Of course considering the stress of transporting to the bank , filling a lot of forms or even waiting in the queue , before being attended to .

 

[Wisdom01]

Of course considering the stress of transporting to the bank , filling a lot of forms or even waiting in the queue , before being attended to .

Yeah thats why I prefer using different means to store my keys sometimes I write them on notepad on my phone and anytime I need them I check it

 

[SCAMEXPOSER]

This is big development for the American citizens , their private keys will surely be safe no doubt and this a clear indication that banks will surely key Into Crypto currencies soonest.

 

[Josemendez]

This is big development for the American citizens , their private keys will surely be safe no doubt and this a clear indication that banks will surely key Into Crypto currencies soonest.

It is indeed a new development , but the users will spend more of fees than they will spend if they are the ones keeping the wallet by themselves.

 

[Wisdom01]

I guess those one that will be keep their keys with the bank , might be large crypto holders because some people might ignore if the fees involved to keep them is high

 

[Josemendez]

I guess those one that will be keep their keys with the bank , might be large crypto holders because some people might ignore if the fees involved to keep them is high

Yea . people with cryptocurrency less than $1000 will not consider going to bank for keeping the cryptocurrency , beculayse the money is not that big , and the fees may reduce it more .