Bitcoin-Friendly Crypto Banking Services (and Which One is For You)...

No comments
crypto banking
You may not notice it in the forefront, but there is a race going on right now amongst financial services to see who can make crypto banking a more accessible and more affordable reality. While many traditional institutions are still far from become Bitcoin-friendly, several current crypto companies are making powerful transitions to become the first well rounded “crypto bank” of it’s kind.  Crypto banking services vs. Crypto exchanges A major indicator to keep an eye on this year is assets under management (AUM). If this number increases for crypto banking services, then you’ll know they are winning the war against crypto exchanges. The main difference between the two is the majority of crypto exchanges utilize horizontal expansion, which involves one simply accumulating assets. Meanwhile, innovative crypto companies favor vertical integration which helps users do more with their existing assets then simple accumulation. Today’s crypto client wants more mobility, more creativity and more ways to profit with their cryptocurrency then exchanges currently offer.  Crypto banking services draw inspiration from traditional finance The early days of crypto were all about revolting against traditional finance institutions. However, today’s crypto climate is much different. The modern crypto companies are quickly learning to adapt and regulate services that we all know from traditional finance. Features such as interest accounts, tax services, payments, and complex trading tools are helping one-dimensional crypto startups evolve into multi-faceted crypto banking services. This is coinciding with an era of increasingly zero and even negative interest rates in fiat currencies, leading many newcomers to appreciate crypto in a fresh light.  Which crypto banking service is for you? As mentioned earlier, we’re currently witnessing a race of the top crypto companies to become the premier crypto banking service. As far as features like crypto-backed loans, high yield savings accounts, margin trading tools and more, there are a variety of platforms all offering something unique. However, many find European-based FinTech platform YouHodler to be the most well rounded with high-yield savings accounts up to 12% APR, 90% LTV on crypto loans and completely original features like Multi HODL and Turbo Loans.  This year is already shaping up nice for those still on the fence about entering crypto. The class of 2020 seems to bridge the gap between traditional finance and crypto banking more than ever before and it’s sure to create a new generation of cryptocurrency users. 
-------

Author: Matt Miller
London News Desk

No comments

Post a Comment