Will crypto banks replace traditional banks?

[royalfestus]

Both crypto bank and the traditional bank can function as different entity without silencing one another, although fast growing technology is bringing e currency into dominance and this will take quite a long time to achieve throughout the world.
Advanced countries like China, USA may have it quick.it will take a whole generation to achieve this because, even of a country is advance not all the citizens especially the aged is technologically capable.

[zilzylian]

Actually we have a decentralized Bank and in my opinion it is DeFi, a DeFi platform, all crypto users can do buying and selling, lending and borrowing.
All aim to speed up the transaction process, but some of these platforms must be trusted and not end up with fraud, I mean the team and developers have official permission to prevent the loss of investors' money due to fraud on these platforms.
Traditional banks until now are worried about the existence of crypro, because banks do not have the technology as good as crypto.

[Noverteno]

In my opinion every country in the world will launch crypto bank where we can purchase and sell our crypto without hesitation. No one will require any further information which will disgusting for us. For that reason i think it may replace traditional banks over crypto bank. If we want that should be executed by the government of that particular bank.

States do not need cryptobanks. For them, this will be an extra costly item, and therefore they will not go for it. Cryptobanks can emerge as commercial banks if it is profitable for them to do so. But in general, I do not see any prospects for their development. Many functions of crypto banks can already be taken over by DeFi projects. In any case, this will not affect the existence of the usual banking system. They have nothing to fear, since they are under the protection of the state.

[satpol_PP]

In my opinion every country in the world will launch crypto bank where we can purchase and sell our crypto without hesitation. No one will require any further information which will disgusting for us. For that reason i think it may replace traditional banks over crypto bank. If we want that should be executed by the government of that particular bank.

States do not need cryptobanks. For them, this will be an extra costly item, and therefore they will not go for it. Cryptobanks can emerge as commercial banks if it is profitable for them to do so. But in general, I do not see any prospects for their development. Many functions of crypto banks can already be taken over by DeFi projects. In any case, this will not affect the existence of the usual banking system. They have nothing to fear, since they are under the protection of the state.

Yes, I think we didn't need the usual bank system.. Crypto currency will always be digital asset, All transactions can used online transaction and no need banks.
So, I don't think crypto banks will be there.

[dekafee79]

Yes, I think we didn't need the usual bank system.. Crypto currency will always be digital asset, All transactions can used online transaction and no need banks.
So, I don't think crypto banks will be there.

I don't agree, maybe we will need the usual bank system for crypto at the coming future when the digital era comes.
It will make crypto transaction easily, I think

[rizqillah]

What do you think about this issue, whether crypto banks can compete and soon replace traditional banks in the future? Personally, I think this is difficult to happen because the current number of crypto banks is very modest compared to the number of traditional banks.

I think crypto banks can compete  and replace traditional banks. But It will take several years again, As you said the current number of crypto banks is very modest compared to the number of traditional banks.
maybe at the next several years the current number of crypto banks will increase,
So, lets wait and see the progress of crypto banks.

[LaZim]

What do you think about this issue, whether crypto banks can compete and soon replace traditional banks in the future? Personally, I think this is difficult to happen because the current number of crypto banks is very modest compared to the number of traditional banks.

I think crypto banks can compete  and replace traditional banks. But It will take several years again, As you said the current number of crypto banks is very modest compared to the number of traditional banks.
maybe at the next several years the current number of crypto banks will increase,
So, lets wait and see the progress of crypto banks.

For a bank to exist, people have to carry money there. Who will carry their cryptocurrency there now?Will you entrust your savings to a bank? I think not. If you want a minimum interest rate without risk, then you can bring a fiat currency to the bank.

[Delgboke]

It will need alot of conviction for people to adopt crypto currency banking over traditional banking system because of the high risk in Cryptocurrency business, even though it will be more preferable to use crypto bank than traditional banking based on the profits that it will yield, for my opinions crypto bank is more profitable because of interest increment just that scammers can use it to scam people.

[Doctor]

Government run policies and administration for the people. It will be difficult for crypto to take over traditional bank. Government always want to be in charge

I agree with this, I think It will be consideration.
The government run policies and administration for the people, It is the reason why crypto bank won't replace traditional banks.
Government always intervene traditional banks , with the reason that inflation does not occur.
Classic reason.

[Bliznec]

In my opinion every country in the world will launch crypto bank where we can purchase and sell our crypto without hesitation. No one will require any further information which will disgusting for us. For that reason i think it may replace traditional banks over crypto bank. If we want that should be executed by the government of that particular bank.

States do not need cryptobanks. For them, this will be an extra costly item, and therefore they will not go for it. Cryptobanks can emerge as commercial banks if it is profitable for them to do so. But in general, I do not see any prospects for their development. Many functions of crypto banks can already be taken over by DeFi projects. In any case, this will not affect the existence of the usual banking system. They have nothing to fear, since they are under the protection of the state.

Yes, I think we didn't need the usual bank system.. Crypto currency will always be digital asset, All transactions can used online transaction and no need banks.
So, I don't think crypto banks will be there.

If inflation does not occur before that, hyperinflation, which will completely absorb all the fiat that exists in the world. But this takes a long time. No, I don't think cryptocurrency banks will gobble up fiat banks. Cryptocurrency was not created for such purposes as to harm fiat funds.

[Hisbullah]

No, I don't think cryptocurrency banks will gobble up fiat banks. Cryptocurrency was not created for such purposes as to harm fiat funds.

Yes, I think both have own community.
I don't think crypto bank will replace fiat bank for the next several years again.
But we don't know, If the digital era comes, maybe always will be digital.
Fiat money will be replaced by digital currency, Let's see.

[xeroz]

Traditional banks are replaced by crypto banks in my opinion this will be difficult to happen. We all know that traditional banks are like enemies to crypto banks. Moreover, traditional banks have full support from the government while crypto banks cannot be regulated by anyone. The nature is different, crypto tends to fluctuate. But if it can be replaced, it is allowed. Decentralized finance can and will replace traditional banks and finance. Crypto can easily replace fiat as a wealth deposit, trading medium and unit of account in all its applications. Faster business management, higher security levels, reduced costs and smart contracts are all advantages of a decentralized blockchain based system over traditional banking.

[tonymillions84]

i think the decentralization nature of crypto makes it an unsafe place. there are evil people in the world. there are so many people that cares so much on hurting people. scammers are every where. i don't think the crypto space has grown so much to prevent hackers. this is were traditional banks are still better and much favourable. so many people are stil moving funds from crypto to traditional bank why some are moving from bank to crypto.

[Alter]

Yes, it might happen. Crypto now also has many networks even though there are only a few crypto banks, but the popularity of crypto has spread to all corners of the world. We can determine whether crypto is worthy of being used as a transaction tool or not. Until now it is still a debate, especially for governments and countries that have not legalized crypto until now. Of course they still think that crypto is not worthy to be used as a transaction tool, the reason that always supports this statement is none other than its fluctuating value.

[Vx1]

i think the decentralization nature of crypto makes it an unsafe place. there are evil people in the world. there are so many people that cares so much on hurting people. scammers are every where. i don't think the crypto space has grown so much to prevent hackers. this is were traditional banks are still better and much favourable. so many people are stil moving funds from crypto to traditional bank why some are moving from bank to crypto.

That's right, what I see around me is the same. Many Cryptocurrency players, both Crypto traders and investors, have already benefited from their work. They immediately transfer their profits to traditional banks. They are also aware that this cryptocurrency has very high fluctuations, so it is safer to store profits in FIAT than Crypto coins. 
But we see this very rapid development, I am sure in the future there will be a bank that specifically serves Cryptocurrency, even though it is not important because Crypto is a decentralized digital.  We can do Cryptocurrency transactions easily online and from home.