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We Will Be Able to Buy Bitcoin Directly at the Bank

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Suba

Suba

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Bitcoin has entered a new era, although previously there was a fight between the crypto community and regulators, currently the SAB 121 regulation has been revoked/abolished, allowing banks in the United States to sell Bitcoin to their customers without having to open a crypto exchange account first as an intermediary.

So if you already have a bank account such as Bank of America, Citibank, JP Morgan Chase etc., then you don't need to create a new account or go through the KYC and AML verification process, from the mobile phone app, you only need to click buy Bitcoin, make sure your account balance is sufficient to buy the amount of Bitcoin you want. Then you only need to withdraw Bitcoin to a personal wallet either via the onchain network or the Lightning network.
 
Wow, I like it, it is legit being sold from the bank. I have a Citi Bank 4 years ago, but I closed it because I shifted to a government owned bank and it is where our salaries are deposited. The banks that I have are not qualified which are BPI Bank, DBP, and Land Bank. These are owned by the national government. Being a worker at a government university, I have to abide the legalities and protocols.
 
Starmix said:
Wow, I like it, it is legit being sold from the bank. I have a Citi Bank 4 years ago, but I closed it because I shifted to a government owned bank and it is where our salaries are deposited. The banks that I have are not qualified which are BPI Bank, DBP, and Land Bank. These are owned by the national government. Being a worker at a government university, I have to abide the legalities and protocols.
Click to expand...
That's right, if you work for a government agency, your salary will be paid through designated banks, you only need to create a new account at one of the government-designated banks, and you may not need to close your Citibank account. You can also open an account at Bank of America either online or offline.
 
Suba said:
That's right, if you work for a government agency, your salary will be paid through designated banks, you only need to create a new account at one of the government-designated banks, and you may not need to close your Citibank account. You can also open an account at Bank of America either online or offline.
Click to expand...
My problem with the Citi bank is, it is far from my location. There is only a very few branches of Citi Bank , unlike BDO and Metro Bank. Cit Bank also requires a huge deposit before being accepted to open an account , reason why they have only three branches in the city where I live.
 
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