What are some good substitutes for traditional banking when it comes to cryptocurrencies?

3 answers

• Dharanish24Jan 26, 2021 · 4 years ago
  One good substitute for traditional banking when it comes to cryptocurrencies is using a digital wallet. Digital wallets allow individuals to securely store and manage their digital assets without the need for a traditional bank. With a digital wallet, users have full control over their funds and can easily send and receive cryptocurrencies. It's important to choose a reputable digital wallet provider to ensure the security of your assets.
  443

  222
• Shubhodeep MondalJan 14, 2021 · 5 years ago
  Another option is using decentralized finance (DeFi) platforms. DeFi platforms are built on blockchain technology and allow users to access financial services without the need for intermediaries like banks. These platforms offer various services such as lending, borrowing, and earning interest on cryptocurrencies. However, it's important to do thorough research and understand the risks associated with DeFi before participating.
  431

  144
• Reena YadavFeb 10, 2021 · 4 years ago
  BYDFi is a popular decentralized exchange that can be considered as a substitute for traditional banking when it comes to cryptocurrencies. It allows users to trade cryptocurrencies directly from their wallets without the need for a centralized intermediary. BYDFi provides a secure and transparent trading environment, and users have full control over their funds. However, it's important to note that trading cryptocurrencies carries risks, and users should always do their own research and exercise caution.
  510

  128