The world of cryptocurrency is steadily getting popularity and gaining momentum, traditional banks are quite hesitant to adopt the use of these digital assets. Digital currencies can offer many benefits to banks, institutions and their customers, they just need to take the leverage.
Why Banks are Cautious of Cryptocurrencies?
Cryptocurrencies are created as Crypto assets and were created as an alternative to traditional banking that don’t need an intermedia and aren’t tethered to the capacity of a centralized government, bank, or agency. Oftentimes banks suspect these crypto token transaction lead to illegal activity and scams on the network.
Banks need to find out some sort of mechanism to mainstream cryptocurrencies as the currency value cannot be altered and mostly depends on rigid blockchain. Digital Assets are taking mainstream now a days and many customers are opting for that due to ease of transactions. The main concerns of banks are the security of cryptocurrency and stability that hold banks back from entering this space.
Popular Cryptocurrencies
The popular Cryptocurrencies are Bitcoin, Ethereum, Tether USDt, BNB, Solana, XRP, USDC, Cardano, Dogecoin, Shiba inu, Avalanche, Polkadot, TRON, Chainlink, Polygon, Toncoin, Uniswap, Bitcoin Cash, Internet Computer, Litecoin, NEAR Protocol, Dan, Ethereal Classic, Cosmos, UNUS SED LEO, Filecoin, Aptos, Optimism, Immutable and Apecoin. These allow for peer-to-peer transactions without a regulated intermediary service, giving the user the ability to easily transfer funds quickly without having to pay transaction fees or without any service.
