Post
Topic
Board Bitcoin Discussion
Re: Why are banks against cryptocurrency?
by
uneng
on 24/05/2024, 18:35:16 UTC
So what I'm ultimately getting out here, is that crypto currency can't go in line with banks. What are your thoughts towards this?
Not only it can go in line with banks, as it's already happening at many banks around the world. Here in my country we can already invest in cryptocurrencies through our traditional banking apps, so the bank is a middleman between you and cryptocurrencies. The problem is that you can't cashout your crypto funds from the platform, so the bank has it on their hands the whole time, and as we know, not your keys, not your coins... It's definitely a big issue, although banks don't have any problems in offering this investment opportunity for their customers.

In fact, banks were clever to offer crypto investment opportunities while keeping all the funds held under their possession, so at same time they embrace the advantages of adopting cryptocurrency, they also totally kill the characteristic they most dislike: decentralization.

After all, it seems perfect for them, while for average investors, it's a big setback, since they give up on the main aspect of investing in cryptocurrencies, which is the fact investors can hold their own money on their own wallets without the risk of having their money seized by a central authority.