Deposit your bitcoins to an account on a centralized exchange is already risky but deposit your bitcoins to a bank account is more dangerous. At least in the present, banks are more regulated than centralized exchanges and you will have higher risk of having problems with banks than with centralized exchanges.
It's good news for people who love banks and don't want to migrate from banks to centralized exchanges, decentralized exchanges and best with non custodial wallets to have their "own banks".
It's good news for people who love banks and don't want to migrate from banks to centralized exchanges, decentralized exchanges and best with non custodial wallets to have their "own banks".
Isn't it the other way around? Depositing Bitcoins in a centralized exchange would be far more riskier than doing so in a bank. I mean, banks are subject to tighter regulations than exchanges. Mostly because they're financial institutions dealing with large amounts of money. Not to mention, bank deposits are insured. You won't get that with centralized exchange deposits.
Because most people trust banks, they will choose to deposit their BTC there instead of a CEX. Governments will make use of this for their own advantage. Which is why, I believe that making BTC a legal tender currency will be a no-brainer. Who knows? If trust in Fiat currencies continue to erode, we might witness BTC becoming a global, legal tender currency in the future. Just my two sats.
