Bitcoin is a currency that has always struggled to break into the mainstream.
It’s also a currency that is being mined at a faster and faster rate, with current virtual mining operations hitting 122 percent yields.
Banks are naturally resistant to it because it acts as competition.
For the first time, Bitcoin is making its way into the banking world via WB21, allowing people to have the chance to deposit and withdraw their Bitcoins via a legitimate online bank.
Why It Makes Sense
A bank accepting bitcoin sounds quite unusual; however, it makes total sense when you see it from a customer’s perspective. When you are holding bitcoins in your wallet and want to sell them, it usually takes days before you see money on your bank account. You need to go to an exchange platform that accepts your digital currency, set up an account, transfer your bitcoins and wait for the exchange to send a payment to your bank.
But even traditionalists can’t ignore the quick rise of Bitcoin. More and more businesses are accepting it as a form of currency; therefore, banks have a duty to their customers to accept them. The chances are it will take some time