Can we discuss crypto as an escape route from banking system.

[Blessed19]

As of three to four days ago we get to read in the news how the banking systems are failing the people and you check out the crypto world gaining more stands as against the paper and banking currency. How do you feel about that?

 

[Magnus2022]

Cryptocurrency is a relief to many people suffering from financial institutions delays and unnecessary hitches. Cryptocurrency is do it yourself and take all the risk affair. While the banking restrictions do helps us from scamming and other dubious transactions, it equally deprives the legal right we have over our funds.

 

[eldavis]

There is no doubt that crypto currency would be of huge help, especially during this period where the banks are having lots of issues. But the use of crypto still has its own limitations. The tomatoes seller in the local market would not be able to use crypto.

 

[riberet19]

It can be helpful with what is happening, but let's not confuse two things, cryptos are closely correlated with fiat, and could not escape at all, since all assets are measured in fiat, in addition exchanges are very correlated with the banking system since they obtain financing from them, we saw it with the case of the silvergate bank, We should not believe that the crypto ecosystem is going to be saved from a banking collapse.

 

[Golden9]

I believe that both cryptocurrency and the traditional banking systems would have to work together for a long while. There are a lot of challenges cryptocurrency has to overcome just like traditional banking has its problems.

 

[riberet19]

I believe that both cryptocurrency and the traditional banking systems would have to work together for a long while. There are a lot of challenges cryptocurrency has to overcome just like traditional banking has its problems.

Yes this is true for now the crypto world can not be decorrelated from the banking system or fiat world is something that maybe can be done in the future but not now i think

 

[flower]

Bitcoin has been used to evade a lot of banking transactions and it is an established fact.

 

[nomad]

Crypto can be used as an alternative to banking system. IN fact there are a lot of benefits of using crypto. IT has low transaction fees as well as a faster transfer rates.

 

[Reedex]

Cryptocurrency is a technology that gives us autonomous power over our spendings and as a result we can carry out transactions without the influence of the third party.

 

[cherry123]

Cryptocurrency and the banking world have their different benefits and drawbacks but its a relief to many people suffering from financial institutions delays and unnecessary hitches the use of crypto will drown those

 

[flower]

Cryptocurrency is a technology that gives us autonomous power over our spendings and as a result we can carry out transactions without the influence of the third party.

This is what made cryptocurrency to develop very quickly because people saw this feature and they started adopting it.

 

[cherry123]

Cryptocurrency and the banking system have been helpful in their own ways. but people love to use them differently now as they have their differences.one should use whichever suits them better

 

[fcbetting]

No we can't. Most crypto still refer value to FIAT like euro or dollars. Most people trade with cryto so thec can sell it for FIAT. In base, crypto is just a side value but main is still FIAT in any country.

 

[cherry123]

Same here, crypto is just a side value but main is still fiat n any country And I think In most African countries it is the same too. Cryptic is yet to be accepted

 

[Bisolami]

I get your point and I think it is the best way to get money and send the money instead of going to the bank all the time

As of three to four days ago we get to read in the news how the banking systems are failing the people and you check out the crypto world gaining more stands as against the paper and banking currency. How do you feel about that?

 

[cherry123]

I just like the idea of carrying out transactions without the influence of the third party which are the traditional banks. Cryptocurrency is a technology gives us power over our transactions

 

[Bisolami]

I just like the idea of carrying out transactions without the influence of the third party which are the traditional banks. Cryptocurrency is a technology gives us power over our transactions

This is true and I like the fact that we can pay transaction fees that are very less

 

[Yohanna]

Cryptocurrency is never an escape route for banking system because they are two different things .

 

[IB D]

Crypto is a breath of fresh air to replace the bad services we used to receive from the banks. No failed transfers, lower charges and quick transactions.

 

[Yohanna]

Crypto is a breath of fresh air to replace the bad services we used to receive from the banks. No failed transfers, lower charges and quick transactions.

Cryptocurrency is a very wonderful technology that is to be applauded.