Topic: Cryptocurrency bank (Read 120 times)
Isn't the idea of decentralization is to make sure you are always in control of your own coins? This means you are already your own bank as you do not need a third party to help keep your coins safe and also carry out transaction. The control is in your hands. We do not need cryptocurrency banks because we can already get our money out from our coins by ourselves.
Maybe they are worried about the risks that will be faced, such as some restrictions that have occurred especially for those who adopt bitcoin, by opening a Bank of cryptocurrency is exactly the same as being a crypto adopter.
bank is better for buying selling crypto currency
It's definitely not an interesting idea.
Is anything ever really definitely anything? I think having crypto banks with deposits insured by the FCA or some other entity, just like with fiat currency, would significantly help with mass adoption.
Because why would they? Isn't "being your own bank" one of the selling points of bitcoin and most cryptocurrencies? Opening a cryptocurrency bank defeats the purpose. If you want to hand over your control over your bitcoin to an authority, then send them over to exchanges.
You have a point but isn't okay if we also do have our own crypto bank wherein we can easily transact bitcoin anytime, where in we can easily transact and cash out money anytime we want, so better to have it so that cryptocurrency will become more popular.You can cash out your money anytime with exchanges like Coinbase, Gemini, and etc depending on what country you're in. If you want a cryptocurrency bank, then just use your traditional bank instead. I don't see the need to use cryptocurrencies if you prefer having your funds on a centralized bank.
This is an interesting idea. And they are already working on it, but it's not so simple, you need to invest a lot of money in development.
It's definitely not an interesting idea.
This is an interesting idea. And they are already working on it, but it's not so simple, you need to invest a lot of money in development.
Because why would they? Isn't "being your own bank" one of the selling points of bitcoin and most cryptocurrencies? Opening a cryptocurrency bank defeats the purpose. If you want to hand over your control over your bitcoin to an authority, then send them over to exchanges.
You have a point but isn't okay if we also do have our own crypto bank wherein we can easily transact bitcoin anytime, where in we can easily transact and cash out money anytime we want, so better to have it so that cryptocurrency will become more popular.
either are lazy or so money suffices, and superfluous cares are necessary to nobody)
Because why would they? Isn't "being your own bank" one of the selling points of bitcoin and most cryptocurrencies? Opening a cryptocurrency bank defeats the purpose. If you want to hand over your control over your bitcoin to an authority, then send them over to exchanges.
probably because it's not so simple as it seems, behind every loud idea there are a lot of problems and obstacles...
I'm wondering why rich people do not want to open their bank related to the cryptocurrency? there would be a great demand and there would be a big profit.
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