What's the impact of cryptocurrency on traditional financial systems?

[uptrendfinancialsignal]

The financial systems receive some change through cryptocurrency. I see that the crypto revolution presents people with completely new decentralized lending services together with digital currency technology that goes a long way to reshaping our financial operations. People still keep wondering about the emerging ways cryptocurrency will affect established financing operations. What's your take on this?

 

[Nomad]

I think crypto will ultimately give boost to traditional finance as people need to somehow convert crypto to fiat currency and traditional finance can make a lot of money for the currency conversions and withdrawal fees, and even taxes.

 

[magnus2022]

Traditional financial systems will collapse if cryptocurrency continue to grow and expand. This is one of the reason most central banks and governments are against it. Traditional financial systems have start losing patronage. A lot of shops, stores, online businesses have start doing transactions with cryptocurrency.