Why Is There a Tiff Between Bitcoin And Banks?

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2. Why Is There a Tiff Between Bitcoin And Banks? www.cryptoknowmics.com

3. 2 However, lately, the ban was lifted off by the apex court of India, which was levied by RBI earlier. Not only India, but there are also countries like Hong Kong, USA, and South Korea that have accepted the concept of cryptocurrency. This new digital monetary concept encouraged many people to make an investment in Bitcoins. www.cryptoknowmics.com

4. 3 ● Bitcoin, the most famed cryptocurrency is known to be the brainchild of Satoshi Nakamoto. It made its beginning on 3rd January 2009. ● Not only did it earned much popularity globally, but it also paved the way for other currencies too, whom we call altcoins. There might be many competitions brewing between the altcoins and Bitcoin, but the latter coin always comes out the winner. ● This is why it is called a dominant cryptocurrency. This is why people are curious to go for the Bitcoin investment plan. www.cryptoknowmics.com

5. 4 The Reason Of Tiff Between Bitcoin And Banks If you are curious to know about the tiff between Bitcoin and banks, then let us tell you that it is more a kind of insecurity or fear in the banking system. It is all due to the following reasons. www.cryptoknowmics.com

6. 5 ● With the wide acceptance of Bitcoin and other cryptocurrencies, there will no relevancy left for the banking system. ● Another major reason that uproots the tiff between Bitcoin and banks is that it has ended the role of middleman and central authorities like them. ● The insecurity which brews in the banking system is the misuse of digital currencies for illegal purposes. Many governments have not made them legalized due to these reasons. ● The advantage of Bitcoin in making individual the owner of digital currency and to carry the digital trading with no interference of the third party. www.cryptoknowmics.com

7. 15 Conclusion Investing in Bitcoin might sound interesting for many enthusiastic traders. But it will be too early to declare the winner between Bitcoin and banks. Bitcoin cannot overtake the banking system completely. You will certainly have to rely on the banking system because it will become impossible to earn an interest in savings without help from banks. Moreover, with the occurrence of any technical error or failure in transferring assets, it will become so complex to seek help or assistance from any other entity other than banks. Sources https://www.cryptoknowmics.com/news/how-to-invest-in-bitcoin-in- four-simple-steps www.cryptoknowmics.com

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