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Do Banks Sell Bitcoin?

Banks Selling Bitcoin

January 26, 2021 | 

JOHN K MWANIKI |  0 Comments| 

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Get Into Cryptocurrency Trading Today

Investment is the key to financial freedom and success. Everyone wants to invest but doesn't know what exactly to spend their money on. If you are here, then it means that you are in the middle of an investment conundrum. Bitcoin is a to-go for investment in 2021. It is loved for its appreciation and its ability to be exchanged without intermediaries. Banks sell bitcoin, and big businesses are going for it.

By the time you complete the read, you will have all the knowledge you need to venture into bitcoin investment. 

This article will shed light on why banks invest in bitcoin and how you can buy bitcoin with your bank account. You will also understand how you can sell bitcoins and transfer the funds to your account. 

Why banks sell bitcoin and buy it

While some banks are resisting bitcoin, some banks are accepting it. Banks that accept cryptocurrency continue to increase as they have realized that the digital currency is not going anywhere anytime soon, and all businesses are going for it. 

1. Limited supply, high demand

The bitcoin has limited supply and high demand, which makes it attractive to banks. Every four years, the number of bitcoins mined is halved. This has resulted in a decrease in supply and increase in demand, and consequently a high bitcoin value. Banks sell bitcoin because it cannot be duplicated, which makes it valuable.

2. Bitcoin is a mainstream investment

Banks sell bitcoin because investors consider it a legitimate exchange. Investors are predicting that the bitcoin will be worth over 1 trillion dollars in less than ten years. In a few years to come, it will be the preferred national currency to most investors. 

Already there is a bitcoin exchange market, federally regulated, in the New York Exchange Market. Businesses are replacing their credit cards with bitcoin for its utility and security. Credit cards that use bitcoin are rolled out, and customers are embracing them for their cost savings. This circles back to the demand the cryptocurrency will be having, and it is attractive to banks. 

3. Bitcoin is the future

Banks sell bitcoin because everyone believes in it, and they want to be part of its growth. The fact that there is possibly no one that can stop it as long as the internet exists. It makes it valuable and attractive to banks. 

How to buy bitcoin with your bank account

Bitcoin is pricey, and your best shot at an affordable exchange rate would be the bank. Here is how you can buy bitcoin with your bank account.

1. Select an exchange

Select an exchange and create a wallet. This will allow you to buy, sell, or hold your bitcoin. It is best to choose an exchange that can allow you to withdraw your bitcoin to your wallet.

When registering to exchange and creating an account, be vigilant with cybersecurity. Use strong and unique passwords and include two-factor authentication. After some time, change your password to keep away hackers.

2. Choose your bank account as the payment option

Connect your exchange with your bank account. While selecting your exchange, remember to pick one in sync with your bank's payment options. 

3. Start a transaction

Place an order once you have connected your exchange to your bank account. There are different ways to invest in crypto and order types too. You can work with limit, market, take-profit limit, stop-limit, and stop-loss orders. 

4. Provide your wallet address and pay

5. Receive cryptocurrency in your wallet

You will receive your bitcoin in your wallet once you make the payment. This is the only place it will be safe as you will have full control of the key to your wallet. 

Note that there are different types of wallets. Hot wallets are online, and cold wallets are offline and are also referred to as hardware wallets. 

Banks sell bitcoin: you can do it too

Banks sell bitcoin by collaborating with cryptocurrency exchanges. If you have invested in bitcoin and looking to sell it, you can do it in two ways. You can trade directly or sell to an exchange.

By trading directly, you will sell to an investor in exchange for fiat currency. If you are selling to an exchange, it will buy your cryptocurrency for currency, usually USD.

Once you get a buyer, who can be a bank for your bitcoin, you should withdraw your wallet's funds to your bank account. This is the only way you will be able to use the funds.

Tip for investing in bitcoin

Banks sell bitcoin and buy it with the consideration of the risk of investing in mind. Other investors do this too. When purchasing bitcoin, think about buying a lottery ticket. Healthy gambling involves putting only money you are willing to lose at stake. Bitcoin investment comes with several risks. There is a risk of inflation and mean reversion.

To be safe, invest funds that you are willing to lose. Bitcoin is very volatile, something which makes it attractive to investors since the higher the risk, the higher the return. Note that the investment also comes with challenges that other stocks don't, making it an even riskier investment. 

Conclusion

Bitcoin holds similarities with other commodity and currency investments. Whether you are investing in bitcoin, oil, or agriculture, you will experience the same battles. If you are serious about investing in bitcoin, you should shop for bitcoin-friendly banks and exchanges.

Banks sell bitcoin, and they allow investors to trade the cryptocurrency through them too. Banks consider bitcoin a lucrative investment due to its high demand and low supply and the future. 

You can sell bitcoin using your bank account. All you need is an exchange and a wallet linked to your bank. Once you have selected your payment option, you can place an order and transact. The currency will be deposited in your wallet, after which you can transfer it to your bank account. 

Keep the risks that come with bitcoin trading in mind as you make your investment. This will go a long way in helping you avoid frustration. 

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