Why It’s Still Hard To Trade With Bitcoins In Banks
Cryptocurrency like bitcoin is the future, and its success globally is shown through ICOs and other industries slowly investing in its trade is the proof of that. It’s the currency of the future that is not limited to a piece of metal coin, paper or plastic bills, and yet you can become rich in it if you just know how it works and sadly not all people knows how it works. While it offers unlimited potential, not being simple makes it hard for people to invest in them, it’s even much easier to explain how the circulatory system works or how the brain functions than explain cryptocurrency.
The way the word works now is that it’s divided with bitcoin believers and non-bitcoin believers. And for a very good reason, unlike the currencies that are being traded that people can easily be analyze, bitcoin, altcoins, etherium, satoshis and other cryptocurrencies are hard to gauge and not to mention its not a very easy investment to get into. It’s hard to get an investment, and it’s also hard to monetize it and be converted into a known currency like a dollar.
Banks are non-believers: Even if there are, a lot of people millions even that has invested their hard earned money for bitcoin, their banks aren’t. Banks are more skeptical than other people when it comes to investments and bitcoin and other cryptocurrencies are still in its early days that they still can’t consider going with it. What you need to know is that banks don’t see the future most of the time, they wait for from other industries to become a guinea pig before they make their decisions.
Why there are skeptics: In the case of bitcoin and other cryptocurrencies, even if there are a lot of people that are heavily invested in it and not to mention many companies are also building their backbones with cryptocurrency and left their company’s survival on cryptocurrency, banks still see it as something that is shallow, unsure, not needed, a risk that they aren’t willing to take, probably because they cant control bitcoin, no one can, it’s anonymous and your supposed to just live with that and continue to trade it. That fact alone makes more skeptics than believers, the only reason why people go for it is because its a good alternative investment potential and that’s it.
Its like opening Pandora’s box: The fact is not all cryptocurrency investors knows a lot about bitcoin, some care, some don’t, the thing is if you’re not a very technical person to understand cryptocurrency it will just be like opening pandora’s box. Search cryptocurrency online and you will get millions of search results and none of them will give you a direct answer to your questions, just some little snippets that you need to tie all together and get more questions than answers that you can chew.
“No one cares”, about the technicalities of bitcoin, that’s how bitcoin and non-bitcoin investors see it. They just see it as something that they can get money from out of mining and that’s it, there is only a very small number of people that knows all about it and most of them are hidden, whether they are becoming millionaires or not no one knows. This nature of anonymity, a process has more potential than anything but as you know with most companies, institutions, industries they want a direct answer and cryptocurrency doesn’t work that way. This is the reason why its still hard to get banks to trade cryptocurrency. But there’s a light at the end of the tunnel because there are bitcoin friendly banks in the US that you can go to right now.
