Cryptocurrencies for bigger banks can be a real annoyance. But they don't quite share the same fate with smaller lenders; their fate having turned out to be the moneymaker.
Currently, smaller lenders capitalize on the potential to support cryptocurrency-related companies while major banks ignore the cryptocurrency market. Smaller banks, providing services to businesses related to cryptocurrencies, are taking calculated risks. By accepting cryptocurrencies, they look to an untested market fraught with risks and hazards. Even today, vague regulations will make digital currencies unpredictable.
Albeit the adrenaline in cryptocurrencies- banking using such in general- is certainly not for those who lack both courage and guts.
Working with big banks is a major challenge for crypto-related companies. Unfortunately, dealing with large banks has major risks and drawbacks for many cryptocurrency-related businesses. Crypto-currency companies also left business after their banking provider planned to close their accounts.
As years pass, cryptocurrency intimidates through the possibility that it would overthrow the existing banking system. Although being the Messiah of the new way of banking, cryptocurrency exchanges and similar businesses still require banks to continue to function in its conventional nature. Exchanges need a place to store money from investors, and to convert cryptocurrencies to the dollar. Many companies that are connected to cryptocurrencies do need to work with banks for daily business activities.
Cryptocurrency might be young, but as of its standing today, it has proven itself worthy to be in the economic scene since it was launched.
Not only did it give birth to a new way of banking- away from the traditional way- but it did open new gates of possibility in the complex and ever erratic world of financial system.
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