JPMorgan Refuses Crypto Future: the End Game of Banks

JPMorgan Refuses Crypto Future: the End Game of Banks

By xuanling11 | Crypto Learning | 13 Oct 2021


JPMorgan refuses the crypto future and believes regulation will kill it. The bank is on the edge to phase out. Why banks are losing the financial game?

 

Why do we need banks?

The banks are acting as your custodian to keep your money safe. Keeping your money safe used to be the most priority of banks. Nowadays, banks use their money to leverage their capital investments. However, their majority of income is to trick you into their rule of games. They punish you when you fail on their game. For example, if you ran out of money in your bank account, you will be charged overdraft fees automatically. It means you pay yourself to be broken and you pay banks who should protect your money.

 

Crypto has changed the game plan

While banks gain their money from punishing the poor, crypto opens to invite all people to join. You will not earn much just put your money to earn interest but you can enjoy the profits when crypto rises and crypto will rise up much more than banks can payout.

 

You manage your own money

Banks charge you money to manage your money while you manage your own money through cryptocurrency. 

 

Too many regulations in banks that you may cross over

There are many regulations that you may not know about it and you cross over the red tap and get your money to deduct from the violation of regulations. Crypto did not have any regulations that can take your money away.

 

Banks do not like crypto because they are no value

Interestingly, banks argue that crypto does not have value at all. Such an argument is outdated in the current environment. Valuation is subjective and determined by users who want to use it. The more users use, the more valuable such objects are. 

 

The easiest way is to refuse the future

Since banks are still in a better position, they want to influence others to disbelieve the crypto. But, refuse crypto is to refuse the future. Banks will lose their competitiveness in the future.

 

In conclusion

Using crypto is better than using banks that take away your money with many regulations. The future is a decentralized future that people will trade between people without third parties.


Photo by Thilak Lees on Unsplash

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