Cryptocurrency Impacts On Banking system

In this era the intermediary takes advantage of both in any transaction and people are worried about that.But crypto solve this issue and in crypto the users can send or receive the funds without Intermediary.

In the banking system for receiving or sending money the users have to the banking system which includes the intermediary and crypto doesn't.The banking system is very slow and takes fees but crypto is very fast and cheap.

• Crypto Inclusion In Financial Ways.

Crypto is also impacting the banking system by doing high inclusion in financial ways.With the high development of cryptocurrency especially in growing countries crypto is including so much in the financial inclusion.

In this era everyone has a mobile phone and internet connection.With the help of internet connection on mobile phone users can make crypto wallets and can participate in world's financial system.

In this way crypto is for better than banking and people can make profit very easily from crypto and it offers loans and payment for including in financial inclusion.This is the one of the major ways in which crypto is impacting the banking system.

• Better Security.

Another one of the major ways by which crypto is impacting the banking system is that crypto has far better Security than the banking system because it offers high security with the help of technology and cryptocurrency is lying under technology.

As i mentioned before cryptocurrency has a blockchain network and each transaction on blockchain has been recorded with proof and by this way it's providing much higher security than the banking system because they don't have a blockchain network.

By providing high security on transactions the crypto reduces the risk scams and frauds and that's why cryptocurrency has much better security than the banking system.There is always a risk in the banking system but crypto has reduced it.By this way crypto is impacting banking system.