Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.
Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?
Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?
Bank of Crypto are real and they have a multiple benefit over the traditional banks.
They being universal, would maintain a similar interest strategy around the world and controlling interest rate and economy. People in low interest economies would get high interest on their deposit while people in high interest economies would get low interest loans.
They would be a medium for investors from developed countries to invest in rapidly growing economies around the world.