<p>There are such services. But there's a good reason not to use them -- if one day the service is gone, so are all your Bitcoins. This has already happened once and will almost certainly happen again. As of yet, there are no companies I would consider sufficiently reputable in this business.</p>

<p>You can, however, keep both Bitcoins and other currencies in a TradeHill or Mt. Gox account. You can fairly easily transfer Bitcoins into and out of those accounts and they're run by well-financed companies that can reasonably be trusted. And both TradeHill and Mt. Gox have made noises about making their accounts more like online wallets.</p>

CC BY-SA 3.0
2011-08-31T13:36:52.317Z
2011-08-31T13:36:52.317Z
David Schwartz
<p>Flexcoin offers an online wallet and "banking service" which actually pays interest on positive balance.</p>

<p>They do this by charging a fee for external payments, flexcoin to flexcoin remains free. 70% of all interest is then distribuited between its users.</p>

<p>The concerns of this is that an unregulated third party is in control of your money. Bitcoin is aimed at a cash style system, its all about trust when you put your money in other peoples hands.</p>

CC BY-SA 3.0
2011-08-31T13:38:26.557Z
2011-08-31T14:50:56.093Z
2011-08-31T14:50:56.093Z
MaxSan
<blockquote>
  <p><strong>Possible Duplicate:</strong><br>
  <a href="https://bitcoin.stackexchange.com/questions/151/is-there-a-solid-bitcoin-bank-yet">Is there a solid &quot;Bitcoin Bank&quot; yet?</a>  </p>
</blockquote>



<p>Say that I wish to control my bitcoins from a (for me) single point and I don't have the technical resources to have a single access point with a wallet amongst my own personal computers / devices.</p>

<p>Is there a bitcoin bank or similar service that hosts my bitcoin wallet for me and is there a benefit to such a service beyond likely better backup and being a single point to which I can manage my bitcoins without having to set up my own remote access to a home PC?  What are the reasons against using such a service?</p>

<banks><services>
Are there any bitcoin banks (online services) and what are the benefits and pitfalls of using them?
Charles Goodwin
# Are there any bitcoin banks (online services) and what are the benefits and pitfalls of using them?

(Asked by: username_0 on 2011-08-31)

> **Possible Duplicate:**  
> [Is there a solid "Bitcoin Bank" yet?](https://bitcoin.stackexchange.com/questions/151/is-there-a-solid-bitcoin-bank-yet)

Say that I wish to control my bitcoins from a (for me) single point and I don't have the technical resources to have a single access point with a wallet amongst my own personal computers / devices.

Is there a bitcoin bank or similar service that hosts my bitcoin wallet for me and is there a benefit to such a service beyond likely better backup and being a single point to which I can manage my bitcoins without having to set up my own remote access to a home PC? What are the reasons against using such a service?

**Tags:** banks, services


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## 2 answers

### Answer by username_1 on 2011-08-31. Score: 2 | Accepted answer

There are such services. But there's a good reason not to use them -- if one day the service is gone, so are all your Bitcoins. This has already happened once and will almost certainly happen again. As of yet, there are no companies I would consider sufficiently reputable in this business.

You can, however, keep both Bitcoins and other currencies in a TradeHill or Mt. Gox account. You can fairly easily transfer Bitcoins into and out of those accounts and they're run by well-financed companies that can reasonably be trusted. And both TradeHill and Mt. Gox have made noises about making their accounts more like online wallets.


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### Answer by username_2 on 2011-08-31. Score: 2

Flexcoin offers an online wallet and "banking service" which actually pays interest on positive balance.

They do this by charging a fee for external payments, flexcoin to flexcoin remains free. 70% of all interest is then distribuited between its users.

The concerns of this is that an unregulated third party is in control of your money. Bitcoin is aimed at a cash style system, its all about trust when you put your money in other peoples hands.


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