Quote from: serjent05 on September 16, 2023, 10:25:16 PM

Quote from: molsewid on September 16, 2023, 09:23:06 PM

Quote from: HONDACD125 on September 15, 2023, 05:37:52 PM

We all know that crypto currency market is a risky market. Anything can happen at any time, but Bitcoin is more reliable than other currencies, but still Bitcoin cannot be exempt from risk. It is a fact that where there is gain there is also loss and this should never be ignored. The value of Bitcoin can fall, and often the value of Bitcoin fluctuates. Also, any bad news can cause a sudden drop in the price of Bitcoin.

This happened during the crash of Luna, and the same thing happened during the crash of FTX, but we believed that Bitcoin would recover its value very soon, and the current price is in front of you how Bitcoin has recovered its value after major crashes. If we are not careful, our wallet can be hacked, but many people's bank cards i.e. ATM cards can also be hacked without being careful. Such cases are common. So be very careful with things online. The government is creating regulations to regulate and legalize cryptocurrency, but I think Bitcoin is definitely a challenge for the banking sector.

Yes it will be a challenge to banks but I think sooner or later we can see that more banks will accept it and more companies with good names will begin to upgrade to web3. People will soon accept crypto as well that why the demand will rise so banks will be needed to accept pegged coins I think. Next year will be halving that is why it is possible to see bitcoin with new ATH.

Banking institutions have learned that they are missing out on not accepting cryptocurrency, the reason why now some are partnering with some existing cryptocurrency. Unlike in the earlier years of cryptocurrency, banks are very hesitant and even giving warning to people who are actively participating in the cryptocurreny market. Some central bank even banned the use of cryptocurrency but due to the performance of the cryptocurrency industry, some banks are now accepting Bitcoin as mode of payment. and even some of them are investing in the knowledge to learn about cryptocurrency.

Literally cause here in my country (PH), there's a lot of banks that are not accepting crypto into their institution like for example opening a bank account, when they interviewed you what is your source of income and you answered crypto, then they would reject your application losing more clients. Then there's one bank that are open to crypto which is called UnionBank, not only they are gaining clients but they are starting to rise due to more attention people giving to them as they are being more preffered than most of the bank. It's understandable for them to not being open to crypto since it's decentralized which is really risky for them like the safety, but once they've understand how it could be a good impact to banking for sure they would rise.