Bank of Crypto?

[sazonk]

crypto world actually does not need something like a bank, is it not enough with a wallet?
and of course every exchanger has a purse in the form of a wallet. And prepare a storage area that already has an external wallet which is very guaranteed for security.
We see a lot of cases of digital asset escapees that occur in an exchanger, and whether it will not happen also to the Bank?
the answer is Very potential

[Abiky]

If there is a proper cryptocurrency bank, it will conflict with the decentralized nature of cryptocurrencies, because the bank itself is a centralized organization. So having a cryptocurrency bank is not realistic.

Not at all. We have centralized exchanges which dominate the crypto trading industry. Yet, this hasn't resulted in a conflict with the decentralized nature of cryptocurrencies. This is true, because we have various alternatives for trading cryptocurrency. Decentralized solutions like DEXs and atomic swaps, are there in order to make crypto land a better place. If a "Bank of Crypto" emerges in the future, I wouldn't worry much about affecting crypto's decentralization since people will always have the choice of sending/receiving crypto their own way. The bank would prove to be useful for newcomers into cryptocurrency who don't know how Blockchain technology works. It would take care of securing people's crypto funds against hacks or theft. On the other hand, experienced users (like me) would simply use Bitcoin or other cryptocurrencies without the need for a bank.

Nonetheless, a Bank of Crypto would be something optional as it's not necessary for crypto to survive. Of course, this would bring massive adoption within the mainstream world if it becomes a reality. But most people often prefer to deal with crypto transactions themselves for true censorship-resistance. Just my thoughts

[jcarlo]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

[Cherylstar86]

I don't think there is a need for a crypto bank if it's just to secure assets. Just buy a stable coin and keep it in a very safe place such as a hardware wallet. I think this is very efficient rather than having to save in a crypto bank. We have to pay storage fees, and do other administrative actions, troublesome.
Even if there is a future, it seems like there aren't many people who will glance at the crypto bank.

Crypto currency is decentralized in which very highly secured but to be more specific crypto bank is somehow not decentralized though it depends the features that they will provide due to the fact of many users here in crypto currency community as many users want to know in detailed about it. As my own thoughts much better to be secured by our own hardware wallet rather that to be secured by anyone else. Likewise, I don't think it will be supported by many users as well as by those investors here in crypto currency community.

[Delilonia1]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

Having a bank of crypto will defeat the original goal of cryptocurrency.  I dont think people might want to welcome the idea

[Christinebeauty]

But it is not crypto exchanges alone that get hacked, banks also face similar charges. Just that when a customer loses money saved in the bank, the government pays him back but money lost to crypto exchanges are more likely not to be paid back

[secretgirl]

in my opinion the concept of a crypto bank will be in conflict with a decentralized crypto. I think to secure coins we don't need a bank. because we can improve our wallet security system. and there is also a hardware wallet that we can use to store our coins. as long as we keep the password and the key well. then our assets will be safe. and in my opinion storing our crypto in a token bank also has not guaranteed that our coins will be safe from hackers.

[Abiky]

Crypto currency is decentralized in which very highly secured but to be more specific crypto bank is somehow not decentralized though it depends the features that they will provide due to the fact of many users here in crypto currency community as many users want to know in detailed about it. As my own thoughts much better to be secured by our own hardware wallet rather that to be secured by anyone else. Likewise, I don't think it will be supported by many users as well as by those investors here in crypto currency community.

That's certainly true, mate. While Banks are centralized, they serve as an ideal solution for securing one's funds. I believe that a new financial institution that would accept crypto, would attract lots of newcomers in this emerging industry. On the other hand, experienced users will use crypto their own way via hardware wallets or other means. After all, crypto is meant to allow people to be their own bank. We'll have to see if governments are willing to allow Banks to offer crypto services to its customers. Adoption will depend on how governments open up their regulatory stance for Banks to take this wild journey of crypto and Blockchain technology.

Even if we never see a "Bank of Crypto" in the future, we can still depend on many financial services which are completely decentralized. The world of DeFi (Decentralized Finance) is advancing at a fast pace where people can borrow and even lend their money to other users without the need for middlemen. If these services manage to bring ease-of-use, anyone can easily join the world of crypto without any technical knowledge whatsoever.

Nonetheless, time will tell us what will be the outcome of a "Crypto Bank" in the future. There's still regulatory uncertainty, so it may be too early to tell whenever this will be a successful venture in the long run or not. Just my opinion

[adjed]

If we were suddenly to start a bank of Cryptocurrencies where you have to get someone's approval to withdraw your own money, then why was Cryptocurrencies introduced in the first place if we could just continue what we were doing with Banks before Cryptocurrencies were invented, this idea doesn't make any sense to me at all because it totally defeats the fundamentals of decentralisation that Blockchain is built upon.

[owengtam09]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

I don't think that it will happen soon, the government doesn't support cryptocurrencies because it has no tax, they will not get any advantages from cryptocurrencies so that take cryptocurrency as one of their competitors. If the only the government will support crypto many people especially big investors will surely invest and enter cryptocurrencies in the future.

[wozzek23]

Crypto currency is decentralized in which very highly secured but to be more specific crypto bank is somehow not decentralized though it depends the features that they will provide due to the fact of many users here in crypto currency community as many users want to know in detailed about it. As my own thoughts much better to be secured by our own hardware wallet rather that to be secured by anyone else. Likewise, I don't think it will be supported by many users as well as by those investors here in crypto currency community.

I dint even think that banks can secure our own cryptocurrency as much as we can secure it ourselves because that is the only way that I see banks coming in with the promise of securing our crypto. There is no need to actually have bank since we already have our own wallet as our bank, and even the exchanges that are good at it still will not be able to guarantee full security for their users who have kept money in their wallet.
 
Banks are just trying to stay relevant because of the fees they do charge which I think with this decentralized coin, it will be impossible for them to cope. If banks are being created for cryptocurrency again, I just see it as waste and an irrelevant project which makes no much sense to me. The time for banks is beginning to get outdated.

[Zeke_23]

Crypto currency is decentralized in which very highly secured but to be more specific crypto bank is somehow not decentralized though it depends the features that they will provide due to the fact of many users here in crypto currency community as many users want to know in detailed about it. As my own thoughts much better to be secured by our own hardware wallet rather that to be secured by anyone else. Likewise, I don't think it will be supported by many users as well as by those investors here in crypto currency community.

I dint even think that banks can secure our own cryptocurrency as much as we can secure it ourselves because that is the only way that I see banks coming in with the promise of securing our crypto. There is no need to actually have bank since we already have our own wallet as our bank, and even the exchanges that are good at it still will not be able to guarantee full security for their users who have kept money in their wallet.
 
Banks are just trying to stay relevant because of the fees they do charge which I think with this decentralized coin, it will be impossible for them to cope. If banks are being created for cryptocurrency again, I just see it as waste and an irrelevant project which makes no much sense to me. The time for banks is beginning to get outdated.

As for using banks as the third party in our crypto or a financial institution to hold our crypto is a fine matter. If it is regulated by the government then we can assure that our crypto is safe even if it is public or private banks. However, more of crypto users will still prefer holding their own funds in a cold/hardware wallet just to make sure that its own safety.

It may be a waste for you if banks will be built in crypto, but I think there are some crypto users that are approved of this discussion. I think if banks have been implemented in crypto, we do have our own choice if we are going to use it or not. There are hardware wallets that we can use, so it is our choice.

[bonyaserg]

Personally, I believe that the creation of a crypto bank for all holders of cryptocurrency. This is just an awesome idea. And then there will be a great chance to keep your coins safe. But at the moment I think that this will not happen soon. Since to create a crypto bank you need large capital investments. And not every investor wants to risk his capital. Since any business needs guarantees. And I want to say that the creation of a crypto bank will not benefit everyone. Since this can affect the blockchain system itself. But he will hope that in the distant future a crypto bank will exist.

[cryptonewbie]

I find it funny though. The idea of cryptocurrency was to phase out these physical banks and their shady financial dealings. Now we are looking at creating a bank for cryptocurrency. Epic!

[lablab03]

It's a good idea actually to have a banks  for crypto currency because in fact the value is too high  than real fiat so there should be a banks so that those who have big amount can ensure their capital is totally safe .  .  ,but unfortunately  there's still more against about it including those who work in the government even though they all knows that there's a good future with crypto currency they always declined it.  It's very unfair you know.!

[BeManga]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

it the opposite of the purpose of crypto but it is not really bad idea this can help new to bitcoin to feel safer
but having a bank for crypto has a high risk to be targeted by hacker similar what always happens in some exchange

[Rimueng]

Considering that most people nowadays often find it hard to store and protect their cryptocurrencies, it's best to delegate the responsibility to a middleman. A bank of crypto would fit the bill nicely, as people would be able to secure their cryptocurrencies without ever having to follow the necessary precautions to prevent hacks or theft. As long as the bank of crypto is highly regulated by the government, then it'll be here to stay for a long time. Still though, not everyone will agree to this as it greatly defeats the whole purpose of crypto and Blockchain technology. The idea of a bank providing crypto services would only prove to be viable for newcomers into cryptocurrency. People who're experienced in crypto, wouldn't need this in the first place.

Nonetheless, do you think that a Bank of Crypto will happen anytime soon? If so, why?

I have seen a project that designed the concept of crypto bank. But we have not seen the clarity of the project. If I'm not mistaken, the name of the project is MyCryptoBank. Maybe you can see about the concept of this project.

[llecrf]

I have seen a project that designed the concept of crypto bank. But we have not seen the clarity of the project. If I'm not mistaken, the name of the project is MyCryptoBank. Maybe you can see about the concept of this project.

I haven't heard news about this project for a long time, but Africunia Bank is one of the crypto banks and is still active with some of the plans they had set when the project was built, I think crypto banks will be in the future, because private banks in my country recently held a contest for blockchain technology developers and applications that are good for them.

[Morrin]

You have a nice idea but I don't think the industry is ready for it. There are many crypto projects working on creating a decentralised banking ecosystem powered by blockchain but most of them are still struggling maybe because of trust which is the result of an unregulated industry.

[DabsPoorVersion]

You have a nice idea but I don't think the industry is ready for it. There are many crypto projects working on creating a decentralised banking ecosystem powered by blockchain but most of them are still struggling maybe because of trust which is the result of an unregulated industry.

I don't think that this is because of not being ready. It is because it is unnecessary.
Why? We do have our own wallet, hardware wallet, etc. The banking system does not have any place for crypto, they are just a waste of time. Crypto users prefer to keep their own crypto than to use services such as banking system.