Published On: Tue, Jun 20th, 2017

4 Reasons Why Banks Should Provide Bitcoin Wallets

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Banks must start offering cryptocurrency wallets before they get left behind, argues guest writer Bijan Shahrokhi at Venturebeat.  
Surge in Price Results in Investor Interest
Shahrokhi, senior product manager in the financial industry, and previously the co-founder and CEO of Virtual Next, has a few suggestions as to why banks should adopt cryptocurrency wallets.
With the current surge in cryptocurrencies’ value, they are quickly becoming a new global market for assets and banks are being left in the dust.

Shahkrokhi notes:
The market cap of cryptocurrencies has grown from less than $30 billion in March 2017 to over $110 billion in June 2017, and this is just the beginning.
The sheer speed of the technology and money transference can easily work against the investor, especially with so many rogue interests in the field, with exchanges like Mt.Gox and Crypsty disappearing overnight. Personal internet security is important too to protect your own coin storage from hackers. Banks do offer a security that only a long established institution can bring.
Whilst security like this is already achievable to Bitcoin users in the form of a hardware Trezor wallet, only banks can truly bring a veneer …

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