08-26-2021, 12:30 AM
Banks don't want the average person to know about crypto. It loses them business.
<!-- SC_OFF --><div class="md"><p>Banks are ultimately businesses whose main aim is to turn a profit. They do so by investing the money kept in the accounts people keep with them - YOUR money.</p> <p>If a new store of wealth comes along into which people place money they would have otherwise kept in bank accounts, banks lose out on capital with which to invest and make more money.</p> <p>When banks are seen as the only option, they possess all the power (money=power, that's obvious nowadays). It is in their best interests to fearmonger when it comes to a potential rival - which crypto is.</p> <p>While cryptocurrency is currently just a plucky underdog of sorts, I think many people (here at least) forsee that not being the case for long. The will of the common person is gradually wearing them down, but some banks still make it incredibly difficult to deposit into exchanges to make crypto purchases.</p> <p>We've already seen adoption by huge institutions - and the recent applications regarding Bitcoin ETFs are very promising. Cryptocurrencies are the centre of attention for many news outlets; the daily number of crypto-related articles being produced seems to be increasing exponentially.</p> <p>The average person is far more clued-in than they would have wanted and only when negative press would damage their credibility do they give in (not all do but social media is a powerful tool these days).</p> <p>So, do spread the word; you don't need to give specific investing advice. Just tell people to look into cyrpto in general - the technology, growth and potential really speaks for itself.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Raiwist"> /u/Raiwist </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pbbjig/banks_dont_want_the_average_person_to_know_about/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pbbjig/banks_dont_want_the_average_person_to_know_about/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Banks are ultimately businesses whose main aim is to turn a profit. They do so by investing the money kept in the accounts people keep with them - YOUR money.</p> <p>If a new store of wealth comes along into which people place money they would have otherwise kept in bank accounts, banks lose out on capital with which to invest and make more money.</p> <p>When banks are seen as the only option, they possess all the power (money=power, that's obvious nowadays). It is in their best interests to fearmonger when it comes to a potential rival - which crypto is.</p> <p>While cryptocurrency is currently just a plucky underdog of sorts, I think many people (here at least) forsee that not being the case for long. The will of the common person is gradually wearing them down, but some banks still make it incredibly difficult to deposit into exchanges to make crypto purchases.</p> <p>We've already seen adoption by huge institutions - and the recent applications regarding Bitcoin ETFs are very promising. Cryptocurrencies are the centre of attention for many news outlets; the daily number of crypto-related articles being produced seems to be increasing exponentially.</p> <p>The average person is far more clued-in than they would have wanted and only when negative press would damage their credibility do they give in (not all do but social media is a powerful tool these days).</p> <p>So, do spread the word; you don't need to give specific investing advice. Just tell people to look into cyrpto in general - the technology, growth and potential really speaks for itself.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Raiwist"> /u/Raiwist </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pbbjig/banks_dont_want_the_average_person_to_know_about/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/pbbjig/banks_dont_want_the_average_person_to_know_about/">[comments]</a></span>Kind Regards R