What are your opinions on Crypto Banking?

[NRista94]

I know that a lot of people think "I can save my crypto's on my own with a ledger", but is that really the way we have to go? The idea behind Crypto Banks is to have a decentralized platform that can carry out all of the same functions that a traditional bank can without the need for a mediator.

But lets cut to the case, why this thread/question?
I've seen a pretty nice article about ATRONOCOM ( https://coindoo.com/crypto-banking-the-future-of-personal-and-business-finance/ ) with so to say chewed up informations about Crypto Banks, and i want to know your opinions on Crypto Banking also because there are a lot of Crypto banks that are trying to make a new platform/product. Should we start chasing them

[bhadz]

A decentralized bank? Banks are meant to be centralized and AFAIK there were already few of them that operates now. What will be the purpose of crypto banks? we can save our own crypto's with our own wallets. In some of their service, they lend money so that's going to be one of the feature that they can offer? lending crypto's to their clients.

[NRista94]

I expected the ledger comment but not as a first pick
From my point of view the main advantages are security and accessibility( banks have to give you debit cards) which you dont precisely have with a ledger
And yes i know that there are already a few crypto banks out there, but the hype for Banks is just starting, there is still time to catch up on that train

[shinratensei_]

A decentralized bank? Banks are meant to be centralized and AFAIK there were already few of them that operates now. What will be the purpose of crypto banks? we can save our own crypto's with our own wallets. In some of their service, they lend money so that's going to be one of the feature that they can offer? lending crypto's to their clients.

Lending platform will always become the worst platform, i remember so many people have been getting scammed caused by all of their money that already sent to the bitbond platform got defaulted by the fraudster. that's a very bad idea.

[thefoex]

bank crypto is a concept that is difficult for the crypto community to accept today. I don't think this is a bad concept, it's just that many projects that have this concept fail because of difficulties finding users. the crypto community today still believes in traditional banks, so it might be too fast for a concept like this now.

[Thanasis]

I know that a lot of people think "I can save my crypto's on my own with a ledger", but is that really the way we have to go? The idea behind Crypto Banks is to have a decentralized platform that can carry out all of the same functions that a traditional bank can without the need for a mediator.

If you are okay with it or not but crypto was designed in such a way by keeping it ourselves and transaction on own own so there is no need for an idea like crypto banking.This is just a shit of making centralized payment system via decentralized currency.

[Kalchas]

Sooner or later Crypto Banking will become part of our lives, no one can stop this, it;s on the way

[andrejka]

I know that a lot of people think "I can save my crypto's on my own with a ledger", but is that really the way we have to go? The idea behind Crypto Banks is to have a decentralized platform that can carry out all of the same functions that a traditional bank can without the need for a mediator.

But lets cut to the case, why this thread/question?
I've seen a pretty nice article about ATRONOCOM ( https://coindoo.com/crypto-banking-the-future-of-personal-and-business-finance/ ) with so to say chewed up informations about Crypto Banks, and i want to know your opinions on Crypto Banking also because there are a lot of Crypto banks that are trying to make a new platform/product. Should we start chasing them

The idea itself is not to bad. But! On the other hand it breaks the very concept of cryptocurrencies and the purpose of their creation. Why in the world do we need bank when cryptos have been made exactly to avoid it. To get rid of banks and begin to use private money by p2p transactions - fast, secure, anonymous...And now banks want to dominate this new and awesome instrument by implementing it in their platforms)) What for I wonder?

[bttmember]

I think in future we will see an era of crypto banks where traditional banks will loose the race and crypto banks will dominate as slowly but surely all the governments around the world are accepting and legalizing crypto and blockchain products so its about time we will see all important niches, businesses and industries upgraded to blockchain tech so why not banks.

[Virtual miner]

I know that a lot of people think "I can save my crypto's on my own with a ledger", but is that really the way we have to go? The idea behind Crypto Banks is to have a decentralized platform that can carry out all of the same functions that a traditional bank can without the need for a mediator.

But lets cut to the case, why this thread/question?
I've seen a pretty nice article about ATRONOCOM ( https://coindoo.com/crypto-banking-the-future-of-personal-and-business-finance/ ) with so to say chewed up informations about Crypto Banks, and i want to know your opinions on Crypto Banking also because there are a lot of Crypto banks that are trying to make a new platform/product. Should we start chasing them

A crypto bank makes no sense whatsoever. Banks are intermediators between two persons who want to transact with their money. While the very basic idea of the blockchain and cryptocurrency world is to eliminate on whole the need of a intermediator and process P2P transactions directly from one person to another. If we come with a crypto bank then that bank would have full access to your wallet and keys. Which will destroy the fundamentals of crypotcurrency. Yes, there is just one case in which bank could serve a role and that is merely acting as a regulatory institution but that too would require you to provide the bank with all your credentials which will once again not agree with the idea of crypto.

[akamit]

The idea itself is not to bad. But! On the other hand it breaks the very concept of cryptocurrencies and the purpose of their creation. Why in the world do we need bank when cryptos have been made exactly to avoid it. To get rid of banks and begin to use private money by p2p transactions - fast, secure, anonymous...And now banks want to dominate this new and awesome instrument by implementing it in their platforms)) What for I wonder?

You are right... Fast, Secure, Anonymous - this used to be the concept of cryptocurrency.
But the way cryptocurrency is moving forward, it will be centralized someday sooner, definitely.

I know that a lot of people think "I can save my crypto's on my own with a ledger", but is that really the way we have to go? The idea behind Crypto Banks is to have a decentralized platform that can carry out all of the same functions that a traditional bank can without the need for a mediator.

But lets cut to the case, why this thread/question?
I've seen a pretty nice article about ATRONOCOM ( https://coindoo.com/crypto-banking-the-future-of-personal-and-business-finance/ ) with so to say chewed up informations about Crypto Banks, and i want to know your opinions on Crypto Banking also because there are a lot of Crypto banks that are trying to make a new platform/product. Should we start chasing them

I can see peoples are talking a lot about Crypto Banks nowadays. I'm not supporting it by any means.
The first thing to know about Crypto Banks is, will they be decentralized? If so, then how? If not, then what's the difference between traditional Banks and Crypto Banks?
Secondly, if the purpose of Crypto Banks is to offer the same services already offered by different companies then what is so unique about? Cards, lending services are currently available by different companies now.

[Boombull]

Many ICO projects worked on the idea of crypto banking telling us that it will replace traditional banking but most of these projects are no where to be found again and those that are still available are yet to bring the idea into reality

[mrdeposit]

A decentralized bank? Banks are meant to be centralized and AFAIK there were already few of them that operates now. What will be the purpose of crypto banks? we can save our own crypto's with our own wallets. In some of their service, they lend money so that's going to be one of the feature that they can offer? lending crypto's to their clients.

I guess banks will also exist when the crypto is the main currency. Because, banks are not only present for send money. Banks also provide credit services to people, and it will also be possible with crypto.

[hulla]

bank crypto is a concept that is difficult for the crypto community to accept today. I don't think this is a bad concept, it's just that many projects that have this concept fail because of difficulties finding users. the crypto community today still believes in traditional banks, so it might be too fast for a concept like this now.

You're somehow wrong because the crypto currency community of this days don't believe in traditional banks which was the reason for Bitcoin creation right from the get go. Do you know how many individual that money in the bank account which they decide not to use for 12 years and what the bank could provide them are stories instead of the fund inside the account.

To answer the OP question, the reason why crypto community believe we don't need a crypto bank is because the projects involved in crypto banking havent proof their genuinely and they don't bring something new which will convince the community

[bhadz]

A decentralized bank? Banks are meant to be centralized and AFAIK there were already few of them that operates now. What will be the purpose of crypto banks? we can save our own crypto's with our own wallets. In some of their service, they lend money so that's going to be one of the feature that they can offer? lending crypto's to their clients.

Lending platform will always become the worst platform, i remember so many people have been getting scammed caused by all of their money that already sent to the bitbond platform got defaulted by the fraudster. that's a very bad idea.

It's not a platform but it's more of another feature of the bank that allows their clients to borrow crypto's. And it's up to them on what will be the payment method. If they want to get paid base on USD during the time of borrow or same crypto with the interest on it. I think this is going to be the sole purpose of crypto banks. I'm aware that most of the lending platforms and projects that occurred lately were too dull and didn't get that attention although few of them emerged and gain popularity.

[Apes]

if digital currency and cryptocurrency has become common in real life. with large funds banks will easily change their business direction to become digital financial service providers. this will make it easier for anyone to invest in saving and even loans. I think it will be very easy for traditional banks to adapt to cryptocurrencies and connect with global blockchain and provide services at a low cost.

[n0ne]

It isn't possible for a decentralized banking service. When that isn't possible even when the same is incorporated with blockchain technology surely there will be flaws, but as the transactions were transparent one can keep track of it and make an complaint if the end user is known. I'm sure crypto based banking is a must without which it isn't possible to reach the common people who are really gonna help with the growth of cryptocurrency in large scale.

[Msworld83]

I will say it is good for those who don't have time to trade and have their tken bank for interest even when we are in situation like bear they profit but base on crypto ideology I don't think banking your coin is best option as you can store your coin in yr wallet and be very sure of safety about them till you can sell them .

[Vit83]

IMHO crypto world is something that doesn't need any banks. In crypto only you can own your own money.

[Psynthax]

IMHO crypto world is something that doesn't need any banks. In crypto only you can own your own money.

But if this will give us a chance to make any payment system to the merchant will be much easier and why not? There is some crypto banking system that already exists and i just try to take this as an old idea.