What will happen to the banks if people uses cryptocurrencies more than fiat?

[batang_bitcoin]

the bank will change too.

They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.

They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.

It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.

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[NJB18]

the bank will change too.

They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.

They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.

It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.

I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?

[batang_bitcoin]

the bank will change too.

They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.

They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.

It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.

I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?

It will work like the usual banking system, deposit, withdrawal, ATM's, loans, etc. By the essence of being anonymous in this type of currency will be gone. You know how the banks are working right? They are requiring different identifications and other validity just for their depositor or someone who is in need for their service. Yes, it possible to insure crypto funds but I don't know on how they will make it and adjust to the matter.

[Barcode_]

Banks will still be able to survive as citizens will still need a proper and safe place to deposit their fiat cash, but banks might need to reduce their staff strength overall as more customers will transfer money to each other using crypto-currencies instead of going through bank due to the high fees charged by the bank.

[Roachgo04]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

The only reasonable thing that bank will do is to consolidate its operation and become efficient as much as possible. In order to survive from the rise of cryptocurrencry, many banks will do merging and even buying out the rival banks. They might also use a separate crypto division which will certainly challenge the existing coins and altcoins. If time come that more people use crypto the bank may engage open war to its rival.

[monomix]

the banks will accept crypto then, and lead the mainstream, but thats a long way yet to go

[reality18]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Obviously, the banks will go down gradually if the patronage of cryptocurrency keep rising since either parties uses different mode of operation. The banks are centralized where as cryptocurrencies are decentralized, hence cryptocurrency works it way out all the time to give the people power and control of their financing and monetory dealings. I believe everyone loves to gain power, independence, and control over their financial lives.

[toygama]

Of course they adopt changes that is the constant thing happen in the world, I think as of this time they have already an alternative plan if crypto become the mode of transaction in exchange of fiat.

[Naughty Princess]

Banks will still be able to survive as citizens will still need a proper and safe place to deposit their fiat cash, but banks might need to reduce their staff strength overall as more customers will transfer money to each other using crypto-currencies instead of going through bank due to the high fees charged by the bank.

I think that it is more secure to deposit your funds in the bank and just let the amount for investment be in  online wallet. Bank will not lose people because there is crypto, there will happen that more people find it for the safety of they savings and let then save a fiat that is already a profit from investment.

[Komobit]

I'm dying to see Fractional-reserve banking with cryptos. One bank usualy use just one big fiat money to do his Fractional-reserve banking but I believe this will not be the case with cryptos becouse they are not bounded by boundaries, so it will be commom to one single bank work differently with each Fractional-reserve coin

[cristinaxx]

What will happen to the bank if people uses cryptocurrencies more than fiat? Will I think the bank will adopt the cryptocurrency too. The bank will adjust in what is happening in our society. And still early for thinking about that, I guess banks are aware in our industry and always ready for any problem they can encounter.. And it's possible that they already heard about cryptocurrency so maybe as of now they are trying to figure it out how they resolve the problem.

[tuikindu01]

No one knows for sure what will happen.

Maybe the bank will issue its own token at that time.

In the future, bitcoins and other passwords will coexist with fiat money.

[naidray]

the bank will change too.

They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.

They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.

It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.

I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?

It will work like the usual banking system, deposit, withdrawal, ATM's, loans, etc. By the essence of being anonymous in this type of currency will be gone. You know how the banks are working right? They are requiring different identifications and other validity just for their depositor or someone who is in need for their service. Yes, it possible to insure crypto funds but I don't know on how they will make it and adjust to the matter.

I ever doubt if that would happen unless of course they are going to be doing that for the common man who may not know how to make use of the internet or keep their funds safe. We already have a bank ourselves which is our wallet, and maybe they can function in the area of loans, ATMs which is pretty reasonable and I believe will be their first target, and maybe as an exchange, but the usual deposit thing, I am not sure. Why would I ever want to deposit my bitcoin in a bank, when there is a wallet without me having a third party ?

[camito]

There's nothing else they can do but to accept and make transactions involving cryptocurrencies. They will adapt this new innovation in technology as well as in currencies. They will be force to accept transactions with these cryptos or they will make their own cryptos that will be used by them and their customers in transacting and as an investment. This will be their best choice to keep pace with cryptocurrencies.

[Johnyz]

The bank will remain strong despite on this thing, simply because they will use cryptocurrency and in the end people will still make transactions on the bank. Crypto will not replace banks, it will go beyond that but of course business tycoon will not let that things to happen.

[litepresence]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

These changes wont happens immediately but day to day changes in life will lead to the changes as above. If that happens we people are lucky because we are already in to the crypto world. We will be a step ahead of others. If the world accepts the cryptocurrency then bank has no other option they should also accepts some of the cryptos to make profits or else bank cant survive. Bank can survive only for loan purpose to the people to fulfill their basic needs and nothing else.

[Bagaji]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Banks has so many functions and strongly believe that even if crypto currency should be accepted world over banks will still be in existence. As we are all seeing crypto currency now it will take a longer time to be accepted world over as a means of exchange for goods and services.

[stellgod]

No one knows for sure what will happen.

Maybe the bank will issue its own token at that time.

In the future, bitcoins and other passwords will coexist with fiat money.

Most of the banks are owned by the governments and the ones which are private banks also need to get approval from the government before taking any such kind of step. The thing is banks cannot start using crypto currencies until and unless the government does not allow then to do so. They really need to get approval first and if they manage to do so, then this will turn out to be the most dangerous thing for survival of paper money.

[dodziu]

'' Perhaps in the future,we could create a smart contract based system that will work as a crypto bank''
I can go along with this quote as initially suggested. But at the same time , It is worthy of note that these Banks can never seize in totality, they can only be reduced to barest minimum, not forgetting that Banks services is not limited to Real currencies operation alone, some valuable items like Gold and other important valuables like important and confidential documents are still kept in their custody by many. And however, physical cash can not be easily eroded completely even with the advent of massive cryptocurrencies acceptability.

[Cosbycoin]

the bank will change too.

They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.

Looking at the long of it, they will definitely find a way to blend with the system just as you have said, and see how they can benefit. I feel they will end up in the angle of exchanges in the long run, but even at that, that still makes them a lot irrelevant anyway considering the fact that OP is relating it to people using more cryptocurrency than fiat. Well, at that stage, they should better start packing to go back home.