In random series I try to share different matters related to crypto and blockchain. Crypto have changed the way people think about money. It is a miracle of this traditional crisis based financial system. Crypto give the opportunity to send and receive payments without banks. People can make transactions directly with each other. This removes the need for middlemen. Many people now prefer cryptos because they are fast and low-cost. Banks have always controlled the financial system, but cryptos are changing that control. Traditional banks charge high fees for transactions. They also take time to process payments.

When people use cryptocurrencies, they avoid these issues. For example, sending Bitcoin or TRX from one person to another takes minutes. A bank transfer, especially an international one, can take days. Many people now use digital wallets instead of bank accounts. This is huge drawback of traditional system which is resolved in crypto based economy. This reduces the need for banking services.

Some banks have started accepting cryptos that must be a good decision by them to embrace upcoming technology quickly I believe. They do this because they see the future of digital money. Still most banks do not support crypto transactions. Governments also make rules that affect crypto use. Some countries allow crypto trading, while others ban it. This creates problems for people who want to use both banks and cryptos together and that is good decision for both of them to make bridge between the existing and upcoming system.

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