Bankera

makeorbrake wrote: »

I can't figure out how they operate as a 'bank' whilst being registered in BVI. Surely, they will have to also register within the jurisdiction that they are going to trade in for banking purposes...OR...at least within the EU?

Won't this be different to a crypto exchange as they're offering regular banking services alongside crypto related services?

1. They bought a private bank.

2. Yes it will be different to crypto exchanges. Check out the website and road map.

CryptoMad wrote: »

1. They bought a private bank.

2. Yes it will be different to crypto exchanges. Check out the website and road map.

makeorbrake wrote: »

Ok, and where is that Bank regulated? In what jurisdiction?


That's what I thought...which means there will be major regulatory hurdles to overcome.

The bank is based in Vanuatu, and is a private bank, only licensed in that Pacific nation currently.

makeorbrake wrote: »

So therein lies their biggest hurdle. Regulation.

Will you please stop trying to talk sense here ?

...It's plain to see that we've been graced with the (very) recent arrival of some expert in all things crypto, called "CryptoMad".

CryptoMad wrote: »

Let’s talk about Bitcoin and Litecoin’s cash flow projections d:

:rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes:

garrettod wrote: »

Hi,

Bankera have today announced that BNK tokens will be traded on HitBTC Exchange.

Hopefully more exchanges to follow.

I like their idea of a bank which can seamlessly integrate between FIAT and Crypto's, I am just worried they won't be able to do it in a useful regulatory environment. In order for it to be a fully usable product in the EU, it would need an EU banking license, so you could avail of SEPA, fast transaction times, low fees etc. A Bank based out of Vanuatu just doesn't offer convenience of use like that with large fees and long transfer times.

The short term win on these Tokens is how much will their exchange make in Transaction Fees when it is launched, if it really takes off then the 20% of those fees they pay in dividends will be the main form of ROI investors will be getting.

Not sure of what they offer that other exchanges don't though, I'd always plump for one set up in a decent regulatory environment where I perceive my money to be safer, like Kraken, Bittrex or Coinbase, than one registered in the British Virgin Islands like Bitfinex or Bankera.

Do you think their exchange will take off and start generating significant Fee volumes? I don't see how their pure banking play will succeed based out of the Pacific to be honest, as mentioned above ideally for us we'd want it licensed in the EU.

https://blog.bankera.com/

Would this be a threat to Bankera?


https://news.bitcoin.com/dutch-bank-that-once-called-bitcoin-high-risk-considers-building-crypto-wallet/

I'm not an investor - just an interested observer.

Surely it's significant though if Rabobank follow through...

Bankera (BNK) will be listed on the HitBTC exchange Monday 4th of June. Some interesting updates over the past few weeks/months. They have delivered on their original promise to have this on an exchange by Q2.

Price will be interesting to see.

garrettod wrote: »

...I'm expecting an early sell off, so the bargain hunters may do well if the project is to be believed in. Short to medium term, I think their goals are achievable, but long term it's a far bigger risk obviously.
...

Well, looks like I got that bit right anyway.

Not a good first day for those hoping to take profits, assuming they bought in during the ICO, in the 0.02 price range. That said, a very good day for anyone wanting to buy into Bankera, with prices dropping to circa 0.01 for part of the evening.

Word of warning for anyone considering using HitBTC - watch out for their charges, and particularly if you are planning on transferring out your BNK.

makeorbrake wrote: »

Some take all the risk whilst others sell the picks and shovels :-)

Selling them is fine, but selling them at inflated prices when there's no alternative isn't just.

MurDawg wrote: »

....You could essentially pick up BNK at 1 cent at one point, judging by the teams performance over the past month thats a steal.

Hi,

It looks a steal alright, but lets face facts here - they've tried to "love bomb" people over the last month, but prior to that they were very poor on communications, marketing and promotion, while their customer service was also questioned by some.

I think they've rattled peoples confidence a bit as a result. The tech may have been going well, but the "investor relations" and customer service hasn't.

MurDawg wrote: »

....Fully expect them to keep the promise and have their exchange running this month.

Please see this Blog update, dated 1st June 2018, by Bankera

From the 1. June Update:

"Bankera’s exchange will be a gateway for liquidity and fair cryptocurrency prices for other products such as wallets, loan services and investment products. As in cryptocurrency businesses security and stability come first, we have to be extremely confident about it before going live, which is why the platform development is taking longer than expected. We plan to have it live in several months. "

That could end up being the start of Q2, 2019 ... not Q2, 2018 as promised, tbf.

They've avoided answering the question directly, in another thread on Reddit when they were asked.

There was recent mention of hiring in staff, on one of the Bankera blog updates - the next new recruits need to be good PR & Marketing people, along with good customer service.

.

0.0028 now, staggering loss since trading went live, 80% odd. A lot of people got burnt I'd say.

It looks like Bitwala are making progress on a similar project to what Bankera were driving towards.

Inquitus wrote: »

Clearly this was a PoS investment from day 1, hope anyone who invested eventually see's something of their money back!

This is crypto risk management -> https://twitter.com/Panama_TJ/status/1163586332503040000?s=20