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Panama’s Largest Banks Will Offer BTC Services



Panama's Largest Banks Will Offer BTC Services - towerbank crypto friendly

Image by Pete Linforth from Pixabay

Many banks are including options for providing trade Bitcoin services around the world. These services, which have a link with Cryptocurrencies will bring huge opportunities for the users. Also, the growth potential of these banks increases leading to growth in the economy. Such a similar service is announced by Towerbank, which is situated in Panama.

This bank holds its position in the top 30 banks present in Panama. The bank announced this news at a recent event in Panama. Cristobal Pereira, who was the Executive Director of this event, announced the matter, and later, the bank announced its confirmation.

It is the first bank among the top banks to approve such services in Panama. It will offer all the services relating to BTC. Towerbank is the largest one of its kind to provide such services. With this initiative, the other large banks of Panama and around the globe will start following the trend.

Services For Bitcoin

Banks around the globe are offering BTC services at present. Bitcoin is the most popular digital currency and the largest in terms of market capitalization. Many people think of Bitcoin when they hear about Cryptocurrencies.

Besides being the most popular, people trust BTC as it is one of the oldest coins. The investors have their investments in this currency and believe that it is safe. By offering services in this currency, the banks are making it accessible to more people. Also, it will lead to the growth of the economy in the long run.

Bitcoin is by far the most common choice for investors. Many countries around the globe are putting a lot of checks on the Crypto market. The policies and practices are changing. But, many countries are approving its transactions.

Requirements For This Services

The bank will offer its services and is BTC-friendly. You can access these services by providing certain documents in the bank. The VP of Towerbank, Gabriel says that to take advantage of the services, you need to provide your name, ID proof or a passport will work. Also, you will need to provide your phone number, Email address, your occupation, location of the same, your income every month, and your address.

He further explains that the customers who want to use the service will have to provide a whitelisted address for selling or possessing of BTC. This is compulsory to follow as it falls under the regulations.

Gabriel says that they need to know the exact address of a digital wallet used during a transaction. These are the transactions that will occur during buying or selling digital currencies. If the users use only a single address, they need to inform the bank. Also, if the users change it quite often, they need to inform them during that time as well. The bank needs to keep a record and track of all such factors with them.

Keeping all these minds, you can open an account by signing up with these requirements. Towerbank is encouraging its users to go for a BTC-friendly account so they can access the benefits. But at present, the bank will not provide any direct options for BTC-to-BTC. The team is working on its development and will include this system later on.

The process of creating an account is quite simple. Enthusiasts can create an account with Towerbank and get these Crypto services. With this, they will be able to buy or sell through their digital wallets at ease. And, this way the bank is approving Cryptocurrencies and are ready to offer the services as well.


With this step, many other banks may get inspiration and follow the similar. With more banks like Towerbank joining the trend, the Crypto market will mix with the banking system. Things will get easier and transactions will become more transparent. And, the users or enthusiasts of Cryptocurrency will get an easy option of availing the benefits and services.

If you are new to Crypto trading and investments then you must check the bitcoin trading platform Bitcoin smart. It has the best options for trading and you can learn about the performances of the two currencies on this platform. If you are a beginner, engage in Bitcoin trading confidently with this platform.

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