Quote from: ololajulo on Today at 06:08:40 PM

Quote from: Kakmakr on Today at 05:45:35 PM

Quote from: jakesun64 on April 29, 2021, 03:05:01 PM

What are the chances of a bank closing your account if you buy bitcoin? i have heard people say they closed down their bank account for buying bitcoin, but this might have been a few years ago. he only said they closed his account, there is no chance of them taking all the money in your account, correct?

The chance is very big that they will do this again, because they did that in the early days.. when Bitcoin was still a huge threat to them. If you want to be safe, open a new account at another Bank ...just for the purpose of using that for Crypto currency transactions. (That way, if they close the account.. it will not be disruptive and your other savings will be protected.)

Banks quickly saw that they were the off-ramp for Crypto that was converted to Fiat and that they could cash in on the transaction fees of these trades... so they forgot about those days. Roll Eyes

If an account has been caught, there are chances account with the person's name and bank verification number vulnerable to been caught again because it will be under watch. It is important to avoid being caught by carefully sending fund, as most exchanges advice never mention anything cryptocurrency as sender and warn anyone sending to the account also.

- The situation of arrest is quite rare in recent years as the buying and selling processes have become more thorough than in the beginning, everyone knows how banks are capable of observing our accounts, so negligence in information is not advisable. But in the modern and evolving era of crypto and bitcoin, banks are also quite comfortable in this matter, they encourage and observe more on the profitability of services, the cost for such services is also not low and so they can close their eyes and pretend they don't know the truth inside.