Post
Topic
Board Bitcoin Discussion
Re: chances of bank closing account if you buy bitcoin
by
ololajulo
on 07/05/2021, 18:08:40 UTC
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.