My idea would be to create a bank to safely store people's bitcoin and other crypto for people who just want to hold for a lot of time.
They would register with the passport or ID, it would cost 100 GBP + 1% to deposit and verify people's identities.
Then, to withdraw, it would take 3 months, they would have to show the passport and have a meeting via zoom once a month during 3 months stating they would want to withdraw, it would cost 300 USD plus 1% of the value.
Don't you think ETF's share the same concept as you, as the idea behind ETFs is to have a third party do the buying of actual Bitcoin on our behalf so as to remove the risk that comes with handling cryptos such as Bitcoin...I guess with the reputation they have they might get more clients, but doesn't hurt to give it a shot.They would register with the passport or ID, it would cost 100 GBP + 1% to deposit and verify people's identities.
Then, to withdraw, it would take 3 months, they would have to show the passport and have a meeting via zoom once a month during 3 months stating they would want to withdraw, it would cost 300 USD plus 1% of the value.
Btw , reading about your idea, this looks like a cat and mouse chase in the making as I see that so much effort has gone into the KYC process and all the data collection of users and not really investing in the platform itself to guarantee a secure platform... otherwise looking forward to seeing this idea brought to life.
It would compensate for people who want to hold for a lot of time without having security concerns.
I don't know about this, do we have platforms that take full responsibility of cryptos incase something happens 