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?
Considering the fact there will be a middle-man in crypto bank destroys crypto purpose. Although it has certain benefits I just do not think that it will work the way we imagined even it is been highly regulated by government. Big companies was once been hacked by random intelligent people although it looks like not penetratable though, and crypto could only be use within the technology itself that is why they are also prone into hacking, either way hackers could make their way to penetrate our security in a manner of greed.