Post
Topic
Board Bitcoin Discussion
Re: German Bank announces to support Bitcoin; says it's important to own private key
by
Dhaniii
on 01/01/2022, 12:15:31 UTC
Most important point: it’s important to own your Bitcoins:
The most important topic when trading or storing Bitcoin is to be owner of your so-called private key, (secret key allowing access to your Bitcoin). This is where our first considerations were made.

I don't think the vast majority of Bitcoin holders understand how important this concept is. Any coin to which you do not hold ownership of the private keys are not your coins, it's merely an agreement between you and the true owner of the private key that the coin is yours, subject to change on a whim by the private key's owner. The number of crypto investors that store their crypto on exchanges or 3rd party apps is palpable. Seeing a bank take this approach is refreshing.
the bank has realized that the biggest asset in the future is bitcoin. To avoid the occurrence of a bank operational stoppage as a result of the transfer of transactions from fiat money to digital money, of course, the latest innovations from banks are needed, however, they must have a system that can adopt bitcoin through the bank center. I think that's the good thing about German banks, before the government actually enforces digital money as a legal exchange, it must educate its customers first.