What You Need To Know About Bitcoin And The Banks
Bitcoin is a type of cryptocurrency, its also been the currency that most people know about cryptocurrency. Contrary to what people think, bitcoin is just one of the cryptocurrencies that is out there, there are hundred of it online and other popular ones are Etherium, Satoshi, Ripple and so on. People just knew about bitcoin as synonymous with cryptocurrency because it’s the first cryptocurrency and after its success that other cryptocurrency started to flourish as well.
As far as the success of cryptocurrency was concerned, the world became divided. There were some that thinks it was just a fad and it will experience a bubble soon enough and there were experts telling everybody that cryptocurrency is the future. While it’s still far from the future, the fact is its also far from being just a fad. It may still not be the future but its slowly becoming one, proof of that is that some cryptocurrency can now be traded versus each other in foreign exchange, there are e-commerce sites that cater to cryptocurrency and there are also bitcoin friendly banks.
Slowly but surely: While there are already various industries that are opening to cryptocurrency, It’s still only a few of them. So even if cryptocurrency is breaking grounds, the process of converting cryptocurrency to your current currency is still a challenge and the process is long. If you happen to be living in the USA, below are the banks that will make your life easier. These banks are considered to be bitcoin or cryptocurrency friendly:
- Simple bank
- Goldman Sachs
- Bank of America
The cause: The main cause of its slow success if because there are still people that still thinks that cryptocurrency is a joke, that it will still bubble anytime soon, not all people know how to determine its rise and fall, not all people know about cryptocurrency and not all people are open to trade it willingly with their current currency. Surely there are a lot of grey areas as to why its happening but if cryptocurrency can get more support and get bigger faster like the surge of bitcoin last year then it might just be the break that cryptocurrency needs to finally break out to the mainstream market.
Cryptocurrency has been very popular these past few years for the reason that the word became divided because of it. There were some companies that treated it as a fad and some saw it as a future. A catalyst on how currencies have been traded for many years now. It pissed a lot of people, and it made a lot of people happy. Its now becoming steady and there are already companies that are investing their ideas and business into it in a form of ICOs. Its slowly becoming recognized and it can’t be denied that it still is very young since there are only a very few industries and institutions that are willing to trade it. If you are well invested in bitcoin, you’re located in the US and you’re looking for an easier way to convert bitcoin to your local currency, refer to the banks mentioned above.