Is it possible for bitcoin to be a bank?

[Potuse]

It is very possible for bitcoin to be a bank because if you follow the antecedent of Bitcoin, you would agree with me that it has become an evolving financial system itself and making it a bank wouldn't be a mistake. It will be a digital bank.

 

[Emmy]

Bitcoin has digital bank because you can keep your Bitcoin in various wallets available under the block chain. Nobody is deducting any charges or controlling your fund but Bitcoin is volatile in nature.

 

[Danny4cash]

Bitcoin can't be bank. I don't think that's going to happen because bitcoin price is volatile, not stable. And as a result, you can save your money on bitcoin. When you save your money on bitcoin, you may not be able to withdraw when you want unless you want to run at loss.

 

[Mayorla]

Bitcoin is a digital currency, In simpler form, It can be a digital form of money. So, I don't really see how Bitcoin can be a bank.
Rather, Exchanges like Centralized exchange or Decentralized exchange can act the role of a bank where you can save your Bitcoin.

 

[Riberet19]

A bank is an entity where you leave your money to have it safe and leave it to a third party to keep it, knowing this Bitcoin is not a bank, it is simply an asset that you can consider as sovereign money and you can self-guard it as if it were a gold coin that you want to keep safely in your home, only that Bitcoin is digital, and if you want to be sovereign you must have it in a self-custodial wallet.

 

[Nomad]

Bitcoin is not an entity, it is not a company, it is a decentralized asset. Therefore, bitcoin does not or cannot function like a bank. However, there are companies that offer various financial services related to bitcoin, for instance, mining pool and rewards pool that allows you to earn mining reward or interest on your bitcoin. YOu can also get bitcoin loan from various companies.

 

[Ja Sa Bong]

If it's possible for Bitcoin to function like a bank, the financial banking sector is doomed. This is not the case with Bitcoin since it's a decentralized digital currency and not a company or an entity. Banks in several countries don't approve of Bitcoin transactions because Bitcoin is a threat to the financial sector according to their government.

 

[Heatman]

How long have we had Bitcoin since it came out? If I remembered correctly, it's been about 15 years or more but have we seen any Bitcoin bank since that long time of 15 years or more? Bitcoin won't even function well as a bank would because it doesn't behave like fait currency.