Post
Topic
Board Bitcoin Discussion
Re: Bank in Norway now supports Bitcoin
by
Wintersoldier
on 15/05/2017, 01:24:43 UTC
A bank called Skandiabanken in Norway now supports Bitcoin. However you cannot purchase the Bitcoins through the bank, you'll be redirected to Coinbase in order to buy.

I don't have this bank myself, so I cannot test this. It seems like it's just linked to Coinbase and the bank does not store the coins on their servers.

This feature is in a beta phase, and the laws in Norway could cause conflicts. I think this is a huge step, and I hope this will soon be supported in more banks. This feature is mainly for investors, you cannot use it to pay bills and such.

Here's a link to the article translated to English:  https://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.no&sp=nmt4&tl=en&u=http://e24.no/privat/bitcoin/naa-faar-du-bitcoin-i-nettbanken-kan-ikke-fornekte-ny-teknologi/23996559&usg=ALkJrhjVd47hlRvCuPcMw4r7-8SKmywfYw

I think this is huge step indeed, but I would be cautious because well all know that banks don't like bitcoin because of its de-centralized features that is why you can buy directly but to use an exchange. But why used banks anyway when you can just buy it thru local coins or exchanges like coinbase that they have pointed at? Well, I think we should monitor and how see things work out with this setup in Norway.
Indeed making a bank accept bitcoib is a huge step for the development of bitcoin. We all know that bank and bitcoin haveva big difference in some aspect but it may also help by the stock and holding processes. If bitcoin want total acceptance of bitcoin for the globalization legality may be a problem but ofcourse bitcoin iw decentalized so we do not want government to manipulate bitcoin because the transaction and the price/value is the best characteristic of bitcoin users reasons on supporting bitcoins development.