Bankex to launch Custody Service with No Minimum Deposit

Decentralized ‘Bank-as-a-Service’ platform Bankex has reported about the launch of a custodial service for digital assets, no minimum deposit is required
20 June 2018   1776

The funds kept in the service are fully covered against natural damage, virtual threats, and human mistakes. Deposits of four cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin) are accepted. Exchanging for storage, Bankex is to charge a commission of no more than 0.02% of the total volume of cryptocurrencies held. Fees can be paid with their corresponding cryptocurrency. It is also planned to eventually accept BKX, Bankex’s native token.

For making Crypto Custody more user-friendly, Bankex is aimed to implement client  service suggestions with a “human presence.” More specifically, users who are beginners in the crypto space will have access to concierge-style services to acclimate them to basic crypto protocols, but not without paying a percentage-based fee.

The service is set to operate resemble to the way that an offline safety-deposit box works: an agreement between the customer and Custody is made, the currency is deposited, and the user gains a commercially and legally viable depository receipt. Earlier this week, Fundstrat’s Tom Lee claimed Bloomberg that he hopes that a lack of appropriate institutional tools, like custodial services, is holding the cryptocurrency industry back.

While Bankex’s Crypto Custody definitely isn’t the only custodial tool out there, its lack of a minimum deposit might lower the barrier of entry. Smaller companies in turn with limited crypto capital or larger firms who may only store small holdings of cryptocurrency may finally have a service that suits their needs.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   107

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.
 

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.