How to MOON Crypto - method II: The Bank Job

By schinkenspeck | crypto_austria | 10 Aug 2020


Here I'll write down, in short words, my ideas for the methods: how to MOON Crypto.
"We may be on a good growing trend, but what is necessary to start the TURBO?"

Method II:

The Bank Job!

As in: "get your bank to do the job".
Some crypto-nerds hate banks - and while some of that hate may be justified in my opinion, I would vote for the option to include banks into the plan ... at the moment, it's crypto VS banks ... or "There's crypto. And there's banks." This current state is bad for everybody - why not make it: crypto AND banks?
Here's how:

1) A bank should include a NEW crypto depot product into their portfolio, consisting of crypto only. If it's a narrow-minded bank, it can be only one cryptocurrency, say, Bitcoin. Or Dash. Or Ethereum. If it's an open-minded (and cool) bank, it can be several.

2) The fiat value of the cryptorurrency depot is calculated every second and displayed to you in the online banking app or website.

3) You can do payments from this cryptocurrency depot just like from any other account you have in that bank. Of course, you can only make as much payment as you have "fiat" value in your depot.

4) If you make a payment, the bank automatically deducts the necessary value in cryptocurrency from your crypto depot - small fee may be included.

5) Win-Win? You can pay in crypto EVERYWHERE (everywhere where you can pay with your bank account or bank card) and the bank should be happy with the small fee. If that scales, they can live off it pretty well. Plus: the cryptos in your account are a security for them. There will be no need for credit involved. 

Let me guess your thoughts now. They are: "wait, this is around already - take for example Nexo (works a little different (with loans), but they got a card) or crypto.com, bitwala, wirex, skrill..." -- yes, all true. BUT: those won't make people wake up, at least not that quickly. Your "standard citizen" out there does not blink an eye for these aforementioned companies (They generally don't, at least not around here. I have talked to several.). However: if your everyday bank put out something like that, the "whoa" effect will be significant - very significant -- and this is when people will wake up and crypto will start to go HUGE. Finally...

Help us to go HUGE. Convice your bank :)

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