Why Is There a Tiff Between Bitcoin And Banks_
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Why Is There a Tiff Between Bitcoin And 
Banks?
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However, lately, the ban 2
was lifted off by the apex 
court of India, which was 
levied by RBI earlier. Not 
only India, but there are 
also countries like Hong 
Kong, USA, and South 
Korea that have accepted 
the concept of 
cryptocurrency. This new 
digital monetary concept 
encouraged many people 
to make an 
investment in Bitcoins. 
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● Bitcoin, the most famed cryptocurrency is known to be the brainchild of 
Satoshi Nakamoto. It made its beginning on 3rd January 2009. 
● Not only did it earned much popularity globally, but it also paved the way 
for other currencies too, whom we call altcoins. There might be many 
competitions brewing between the altcoins and Bitcoin, but the latter coin 
always comes out the winner. 
● This is why it is called a dominant cryptocurrency. This is why people are 
curious to go for the Bitcoin investment plan.
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The Reason Of Tiff Between Bitcoin And Banks
If you are curious to know about the tiff between Bitcoin and banks, then let 
us tell you that it is more a kind of insecurity or fear in the banking system. 
It is all due to the following reasons. 
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● With the wide acceptance of Bitcoin and other cryptocurrencies, there will 
no relevancy left for the banking system.
● Another major reason that uproots the tiff between Bitcoin and banks is 
that it has ended the role of middleman and central authorities like them.
● The insecurity which brews in the banking system is the misuse of digital 
currencies for illegal purposes. Many governments have not made them 
legalized due to these reasons.
● The advantage of Bitcoin in making individual the owner of digital currency 
and to carry the digital trading with no interference of the third party.
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Conclusion
Investing in Bitcoin might sound interesting for many enthusiastic 
traders. But it will be too early to declare the winner between Bitcoin and 
banks. Bitcoin cannot overtake the banking system completely. You will 
certainly have to rely on the banking system because it will become 
impossible to earn an interest in savings without help from banks. 
Moreover, with the occurrence of any technical error or failure in 
transferring assets, it will become so complex to seek help or assistance 
from any other entity other than banks.
Sources
https://www.cryptoknowmics.com/news/how-to-invest-in-bitcoin-
in-four-simple-steps
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