Famous cryptocurrency influencer APompliano tweeted, taking a dig at the banking system, which, according to him, does not work efficiently.
He compared Bitcoin with the bank’s working model. According to him, one can only understand the value of Bitcoin after visiting a physical bank branch and seeing how efficiently they work.
The fastest way to convince someone of Bitcoin’s value is to have them visit a physical bank branch and try to do anything efficiently.
— Pomp 🌪 (@APompliano) April 22, 2022
Bank vs. Cryptocurrency
Cryptocurrencies are digital assets that operate similarly to conventional currency and may be used as a method of transaction. They are often purchased via cryptocurrency trading platforms and kept in secure crypto-wallets.
These digital currencies are decentralized and function in a very secure manner with little human contact. As a consequence, many consider them to be the financial sector’s future.
Banks are the world’s existing financial systems. They provide financial assistance in the form of loans, savings, and other transactions.
However, unlike cryptos, they have several drawbacks due to their centralized nature and susceptibility to prejudice. They are also slower than cryptos, impose exorbitant interest rates on loans and transactions.