I was thinking about it for a while. I am a developer, I understand the concept of bitcoin, blockchain and decentralization. There are cryptocurrency buying services, there are wallet creation services. People who want to have cryptocurrency already have and know what they need to use from the service.
But even though blockchain and crypto are designed to be decentralized, in a way I believe that the bank will then slowly switch to crypto and offer you a service, so your bank will make you an account, keep the currency there, you will use the payment card... basically manage everything as they do now. As it is now with fiat. Since a large part of the market people is crypto-uneducated this will be a good opportunity for banks to gain market share.
What interests me is that it makes sense to start a “bank” that will take care of customers like traditional banks do. Opening an account, buying a crypt, maintaining a computer, etc.?
Coming to this board section in the first time.
It'd be a good idea if the banks would buy and also sell cryptocurrencies to their account holders and that would automatically made them crypto traders right? I think it's already realistic in countries that the government has already adopted cryptocurrencies as legal tender for service payments such as El Salvador but if talking about the bank managing your crypto assets for you as implied with the fiats, then it's a no buyable idea because the bank has even been unable to tell us how the bank transaction fees are been setup up and how unlimited the printed currencies are but yet you're told sometimes that the bank has run insufficient fun to pay you when requesting for withdrawal.
Most times we hears network service errors and lot more.
Imaginably, how can the bank convince us to believe they won't manipulate the crypto because then it becomes centralized and no more decentralized by which we undertake control of our funds unlike the fiats.
I myself don't trust the bank and can't advocate for bank running a crypto account opening for us because we're being already rigged with the fiat system.
If they can't be transparent with the fiats, how'd they be with a decentralized digital cryptocurrencies?
So how about if they insist charge fees for maintenance? Just a hell NO to centralization with my crypto funds.
