New opportunities and frontiers open with crypto banking
Regardless of big government or big tech’s reluctance, cryptocurrency usage has only increased in the resent decade. In fact, recent studies show that roughly 10-15% of consumers between the ages of 16 and 35 have now made some form of transaction or investment using cryptocurrencies.
If we go back 5 or 6 years ago, we can clearly see that less than 3% of the consumers in the same age group concluded the same transactions. This phenomenon will continue to be observed regardless of the state of the crypto market because it has nothing to do with the price of Bitcoin and/or other altcoins. The dramatic increase in cryptocurrency is largely because many exchanges and platforms have begun offering a various range of services that compete evenly or in many cases, even heavily outperform – the traditional banking services.
Ever since the emergence of Bitcoin, roughly tens of thousands of cryptocurrencies have emerged. Some, didn’t even live long enough to see themselves climb in price above $0.0001. Others however, have come out with designs and ideas far different than Bitcoin have since made their name in the crypto world.
These assets, regardless of their initial purpose, still provide a level of privacy that users aren’t able to acquire via traditional payment means. This phenomenon is only projected to increase as crypto will inevitably become more mainstream and exchanges and platforms will also start offering new products and services to go along with it.
You can now see companies giving you the chance to earn interest on your digital assets. This is fairly similar to a high-yield savings account. There are now also many platforms who offer crypto-backed loans that allow clients to use their portfolio