Comparison between the wallet Balance of BANKS vs CRYPTO EXCHANGES

[n0ne]

Gives an comparison between the wallet holdings of leading local banks with the largest cryptocurrency exchanges and the second image gives a comparison between the top five banks of UK and USA with leading cryptocurrency exchanges. The global trading platform of cryptocurrency lag behind 15 with comparison to the local banks, while these local banks hold over is 1000 times less than the top five banks of UK and USA.

If I'm correct we're far behind the financial institutions and we need more adoption to have a competence, as of now the technology is the key factor keeping the cryptocurrency strong in the market. With this it isn't possible to go mainstream to make a change on entire system followed throughout.

[1714777083]

1714777083

[1714777083]

1714777083

[1714777083]

1714777083

[joniboini]

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia). In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

I think it will grow eventually with more adoption. It's more important to see how the adoption is rather than looking at how much funds stored in centralized exchanges imo.

[n0ne]

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia). In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

I think it will grow eventually with more adoption. It's more important to see how the adoption is rather than looking at how much funds stored in centralized exchanges imo.

Agreed, the same time people around the world using currency is much higher than cryptocurrencies. In this regard even when people have got their funds in their own wallet there will be a big difference between the exchanges that are operating for trading more than saving. One thing that makes the change is the adoption as you've mentioned.

[mrdeposit]

Suddenly adoption is the unexpected innovation. Thus, as time passes, they will make the right choice unless there is another way.

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX.

What you say is right. The market has forced many people to hold their funds or withdraw.

[Lucius]

Considering that perhaps 1% or even less of the world's population uses cryptocurrency, this data does not surprise me at all. In fact we have an indication of two things, that we are very far from replace fiat with cryptocurrency, and that most of the crypto owners understand that the exchanges is not place for long term holding.

I think the second picture clearly shows current power ratio between banks and crypto exchanges or maybe even the significance of the bitcoin today. But it should not be forgotten that everything has its beginning, and that this beginning is usually not easy which proved to be quite true in the first ten years of bitcoin. This is in any case too short a time to make some serious conclusions, and I think pictures will look much better after the next 10 years.

[stompix]

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia).

JP Morgan has 1.4 trillion in deposits.
The whole market cap of BTC (including burned coins and lost coins and satoshi's coins) is 70 billions.

There simply can't be any comparison, and this one is funny...the money (fiat) Coinbase and others have, is actually stored in a bank account.   

In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

So, we should compare exchanges...with NYSE?  It's going to end even worse .
Or...the forex markets?

Gives an comparison between the wallet holdings of leading local banks with the largest cryptocurrency exchanges and the second image gives a comparison between the top five banks of UK and USA with leading cryptocurrency exchanges. The global trading platform of cryptocurrency lag behind 15 with comparison to the local banks, while these local banks hold over is 1000 times less than the top five banks of UK and USA.

Pure curiosity, what is the source for the funds those exchanges have?

[solarion]

Gives an comparison between the wallet holdings of leading local banks with the largest cryptocurrency exchanges and the second image gives a comparison between the top five banks of UK and USA with leading cryptocurrency exchanges. The global trading platform of cryptocurrency lag behind 15 with comparison to the local banks, while these local banks hold over is 1000 times less than the top five banks of UK and USA.

If I'm correct we're far behind the financial institutions and we need more adoption to have a competence, as of now the technology is the key factor keeping the cryptocurrency strong in the market. With this it isn't possible to go mainstream to make a change on entire system followed throughout.

Don't use both it will consume high transaction fees like exchanges will consume high transaction for each transaction and banks also do the same in their own manner. You need to have your own crypto wallet which can be allow you make changes in the transaction fees and secured.
If you use such then it will be good option for you.

[Indamuck]

Banks will never be using a normal decentralized cryptocurrency, they won't be able to do fractional lending like they can with USD.  Banks hold less than 10% of their total balance sheet and one day this whole system will be exposed and come crashing down.

[solarion]

Banks will never be using a normal decentralized cryptocurrency, they won't be able to do fractional lending like they can with USD.  Banks hold less than 10% of their total balance sheet and one day this whole system will be exposed and come crashing down.

Haha they are centralized right! so they cannot initialize themselves on decentralized platform right. Nope exactly about 10 percent olding too. They consume 2 percentage fees internationally for using their debit and credit cards. Visa and mastercard providers might be eating our money. These shit banking should be erase with blockchain.

[pat4cryptoreal]

It is clear that we are still far from being mainstream, but you must also factor out that some people might just withdraw all of their funds from crypto, or they use DEX. So it's quite difficult to determine exactly how much stored on exchanges (which is a good thing to prevent something like what happened to Mt.Gox or Cryptopia). In fact, this comparison is a bit off imo. A bank is created to store money, an exchange is for trading, so I will be more surprised if people use exchanges to store their money.

I think it will grow eventually with more adoption. It's more important to see how the adoption is rather than looking at how much funds stored in centralized exchanges imo.

Though banks and exchanges have so many differences but there are still some similarities between banks and exchanges, as cryptocurrency exchange offer the services of changing from one cryptocurrency to another, bank also render the same service by enabling it costumers to change from one fiat of a particular country to another fiat.

[BrewMaster]

how are you even making that conclusion/comparison? i say it is wrong to even compare the two. a bank is a place where you deposit your money to be safe there in an account and possibly even gain a fixed amount of profit per month. on top of that banks offer other services so their holdings are higher.
in contracts an exchange is a place where you only go to trade and withdraw as soon as you are done specially during market downtimes where there is not much movement.

the volume is lower obviously because of lack of adoption but also the bigger reason is because people don't really use exchanges that much. even if we reach mass adoption their volume and holdings should not be close to banks.

[dothebeats]

Right.. When these same assets crypto exchanges have are all stored in banks anyway, except for their cryptocurrencies, of course. There really isn't any comparison to begin with, actually, considering how big deposits are coming in on the banks. If they so do wish, they can just eat up the whole cryptomarket at one chomp, and nada! Gone are the cryptocurrencies and are now on the hands of these banks. Also given the maturity of these financial institutions and the trust they built over centuries, it's a no-brainer that they're worth more than their new and relatively untrusted crypto exchange counterparts.

[el kaka22]

Jesus Christ look at JP Morgan there. I knew bank of america was huge and I knew HSBC was huge but I really didn't had any idea jJP Morgan was that huge.

I mean I believed they were just an investment company, didn't even know they had "bank" things, like do they allow you to take out loans from them? do they have credit cards? Are they like a regular bank ? I don't know if they are like that or not but beating out all those "banks" and being at the top is a good huge accomplishment for them.

Coinbase seems like the closes right now but I think binance will pass them quite soon, hell maybe they already have after this chart was made, they are getting bigger and bigger, bitmex too. Coinbase is probably just wash trading and fake volume that supports these charts.

I doubt we will ever beat those banks one day but if you look at the bitcoins out there in the world and calculate how much people own than you will see we fight back a lot more than this. So, maybe we need a bitcoin wallets vs banks.

[Crypdon]

There aren't enough crypto users to store their bitcoins on coinbase to match the big banks. However, when the value of bitcoin rises there will be a closer comparison. Gemini will probably move up as well

[Ucy]

I agree we need more adoption.
We need more decentralized adoption elsethere won't be much difference between the bank with government issued currencies and centralized  cryptocurreny exchanges

[zhekinsp]

While we are using we can store our cryptos by ourselves in the safe place so there is no need of trusted third party for storing fiat here.And moreover don't store any balance into centralized exchanges because they can take it our kick you away for no reason so just use trading platform while exchanging cryptos.

[daarul50]

Compared to banks, crypto exchanges are still far behind. however, this is normal because even people who do crypto exchange ultimately want to save money and in any crypto exchange if we want to do withdrawal a bank account number is needed. Why is that? Because the main function of exchange is not to save money.

[sheenshane]

As of today, I am expecting that cryptocurrency is not yet on the mainstream because people are still trying to understand it. Before we get to the mainstream, we have to wait for much more time for the people to adopt cryptocurrency. Time will pass and they will realize how much they will benefit in cryptocurrency. Once the currency went down and bitcoin and gold are the only assets they could use, that is the time that they will totally adopt this innovation.

Remember the days when paypal was introduced to the people? People denied to adop the innovation elon musk offered at first. But then, look at the digital assets today. Fin-tech is really improving and blockchain is the next in line. This scenario, just like bitcoin mainstream adoption.

[shesheboy]

As of today, I am expecting that cryptocurrency is not yet on the mainstream because people are still trying to understand it.

based on my own observation there are now over 49.60% of the people that are aware about the cryptos existence  the other .40% of the  49.60 are still doubting if whether they will use crypto or not  . soon these percentage can greatly increase as long as more companies are going to  suporting cryptos .

Remember the days when paypal was introduced to the people? People denied to adopt the innovation elon musk offered at first. But then, look at the digital assets today. Fin-tech is really improving and blockchain is the next in line. This scenario, just like bitcoin mainstream adoption.

people didnt deny paypal because paypal is different from cryptos  . paypal is a bit more legal and trusted as it is backed by real business and people that are visible  . while crypto is a bit more hideous due to its anonymous feaure  . the creator is also anymous  , this why people are doubting to try it .

[sclmte]

if comparing between wallet balance of the banks the crypto exchange, obviously. not because cryptocurrency is a decentrilized currency and a digital currency where we earn a lot of money especially bitcoin is now gradually rising so it is likely to increase. and the wallet balance of the bank will remain a fund, but it will be profitable but no matter how much you will be available depending on your fund.