The dependency on banks to cash out your crypto profits is inevitable, this is very risky as banks may ban any crypto related transactions anytime. What do you guys think would be the solution in the near future to break free from banks?
As banks continue to accept crypto as a legitimate currency separating completely bacons more difficult. Unless you’re willing to relocate to Puerto Rico or the Bahama’s.
Most exchanges are becoming more like banks. Kraken and Coinbase will most likely move to providing more and more online banking services as time goes on. I can see them doing this as soon as government banking regulations come through regarding the crypto currency space
Im not worried banks will ban crypto currencies funds from being deposited into their accounts. I dont think that will ever happen. US banks are more worried about remaining relevant and remaining in business more than they are more worried about rejecting incoming crypto cash.
I dont see this being a problem. Crypto currency market has existed for 11 years and this hasnt been an issue in the USA
I think players like NEXO, Cel. Network, BlockFi and all these CeFI lending platforms will eventually become like banks where you can cash out through their platform without having to go back through a traditional bank.
That’s if the banks themselves are accepting crypto as collateral by that time.