Cryptocurrencies: the biggest threat to the banking system
The world has seen how the economy has evolved in recent years, in a surprising way for what everyone was projecting for the future, the truth is that companies and individuals have found a detailed course to improve their finances and all this is due to the birth of cryptocurrencies. For many, cryptocurrencies have come to be a problem at an economic level and for others it has represented the way out of an obsolete financial system, which has consumed many commercial markets over the years.
The real focus that we can notice in cryptocurrencies, are the slow transactions that we had with the old financial system and for which this new market has had great impact on the world, on the other hand the general population was tired of a centralized system, where all finances were controlled by banks, keeping a large percentage of capital year after year; On the other hand, the crypto world revoked all this and began to present a decentralized system, where every businessman or common person who wished to perform a financial operation could do it freely, without retained money, much less with high interest rates.
The truth is that cryptocurrencies will always have detractors, since many do not want this system to gain more strength, because we would be living an economy anchored to the crypto world, but they have not had the reliability and acceptance that cryptocurrencies have had in general, It is true that the crypto system is variable, but you will never really lose money, you just have to wait for the right time where each person comes out in profit, because cryptocurrencies always recover from a bear market.
While the banking system offers you to keep your money in fixed term or lend you money with exorbitant interest rates, cryptocurrencies give you a helping hand where to invest and look for the best ways to grow your capital, an example that cryptocurrencies are ending the banking system, An example that cryptocurrencies are ending the banking system are the blockchain as steemit, where each user who makes life within this platform, can generate money from the creation of content and then see how their work is rewarded with bull markets, profitable to exchange cryptocurrencies, something that will never happen with banks; the money that is in these entities will always be the same, some savings plans or fixed terms, can generate small amounts, but never with the facilities that cryptocurrencies will give you.
Hi @yongleantonio.
Certainly the adoption of cryptocurrency is a threat to the global banking system, however that is something that will be a success going forward.
Regards and thanks for your input.
of course my friend @carlos84, cryptocurrencies simply came to control a monopolistic market, which plunders the capitals of the most vulnerable.
thank you for reading and commenting on my publication
hello @yongleantonio,
at the beginning I thought that the coins were a threat to the financial system but with time I understood that much more than the banks the coins affect the political systems that depend on keeping the citizens controlled through the economy, implementing the coins would end with much of the current corruption that is why the coins are so attacked.
you have hit on a point that balances the article friend @trabajosdelsiglo, since it is no secret to anyone the things that politicians hide in the financial movements of a nation and that is where cryptocurrencies put them all in check.
Certainly cryptocurrencies came to challenge the traditional banking system and in many areas has already proven to be a more efficient system, this industry has to mature and demonstrate to more people its potential, but we are seeing how little by little businesses and more people are adopting them in their operations, perhaps in the near future they will be the main form of asset exchange.
that's right my friend @emiliomoron, we are simply seeing the growth of an industry that is the present future of the world economy.
Hello friend @yongleantonio.
A great article that you share with us on this occasion, and indeed it is true, cryptocurrencies represent the biggest threat to the banking system worldwide and this will be observed even more in the coming years, thanks for sharing such extraordinary content, many successes. Best regards.
thanks to you my friend @rbalzan79, for taking a moment of your valuable time to read and comment on my post
Very soon crypto currency will render banks useless because people will no longer use it like before.
that's right friend , as long as cryptocurrencies deliver the desired reliability, it will be as a first choice for many.
Cryptocurrency is the future and even the banking system is fully aware of this and that's why they are always after pulling it down and reducing the effects it has on the trust people are having for it
it is impressive the efforts made by banks to create uncertainty around the crypto world, but many have already had to accept the financial evolution that is in the hands of cryptocurrencies.
Cryptocurrencies will be used more and more every day, and the fight of the banks not to accept them will be in vain, they will end up giving in and accepting them.
that's right my friend @ajfernandez, the banks are going to fight all the time to defeat the crypto world, the only thing is that while they are fighting to take down crypto, these digital currencies are working to take over the entire financial market.
It's not like it's a new revolution in the economic world. And this is kind of most debateable topic in the recent few years. But we cannot neglected this new revolution.
that is very true my friend, we can't stop watching this revolution.