Starting November 26, Israel Discount Bank will allow individual customers to buy and sell Bitcoin and Ethereum directly through the bank’s app.
Customers won’t need to open a separate digital wallet or sign up with an overseas exchange. The bank says this is a first for Israel’s banking industry. The service is available to Israeli residents aged 18 and over who have a securities account. Each transaction carries a fee of 2% of the transaction amount. Custody fees will be waived for the first six months after launch; after that, they will be 0.25% per quarter. Fireblocks provides the custody infrastructure.
· The service is currently limited to securities account holders and is not yet available to all individual customers.
· The 2% fee per transaction and 0.25% quarterly custody fee make up the service’s cost structure.
$BTC $ETH
Would you first calculate the impact of the 2% fee on frequent trading, or look at the six-month custody-fee waiver?
Customers won’t need to open a separate digital wallet or sign up with an overseas exchange. The bank says this is a first for Israel’s banking industry. The service is available to Israeli residents aged 18 and over who have a securities account. Each transaction carries a fee of 2% of the transaction amount. Custody fees will be waived for the first six months after launch; after that, they will be 0.25% per quarter. Fireblocks provides the custody infrastructure.
· The service is currently limited to securities account holders and is not yet available to all individual customers.
· The 2% fee per transaction and 0.25% quarterly custody fee make up the service’s cost structure.
$BTC $ETH
Would you first calculate the impact of the 2% fee on frequent trading, or look at the six-month custody-fee waiver?
