Crypto currency

Banks Tried To End Crypto but Now The Banking Industry Is Racing To Catch Up

Banks Tried To End Crypto but Now The Banking Industry Is Racing To Catch Up

Cryptocurrency is a form of digital currency that is unlike the traditional currencies that are physical. They are designed in the form of digital format and are not subject to the control of governments. The history of these digital currencies can be traced back to 2009 shortly after the global financial crisis that engulfed the world in 2008. People, who were skeptical of the way the world’s banking and financial system operated, came with the idea of a digital currency. This form of decentralized digital currency is designed to bypass the banking system.

Bitcoin is a popular example of the various available digital currencies currently being used worldwide. It was created by a controversial man named Satoshi Nakamoto. He released the currency in 2008 as open-source software in early 2009. It is reported that the first ever Bitcoin currency transaction involved Nakamoto and an adopter of the currency in January 2009. Due to the anonymous and decentralized nature of crypto, banks have been harsh towards them. There have been concerted efforts from leading banking and financial firms to have crypto stopped albeit unsuccessfully. Having realized their failed attempts to end crypto and the way they have become so popular, they are now scrambling to catch up.

The adoption and use of crypto by the masses has been phenomenal

The rate at which millions of people worldwide and institutions are adopting the use of crypto currencies has increased exponentially. Many people are finding it convenient to invest in the various digital currencies. So are the many businesses that are now accepting and adopting crypto currencies as a medium of exchange. This surge in the demand by users for an efficient crypto trading platform has led to the creation of crypto trading platforms. Crypto platform tech developers have taken the initiative to create trading platforms that use digital currencies. Quite a number of tech savvy online traders are now doing their trade online over the various available crypto trading platforms. Margex is one of the online trading platforms that conduct trading exclusively in crypto.

So, what is Margex?

Margex was launched in 2020 and has quickly established itself as a transparent operator thus earning trust from many users. One of the reasons why so many people are keen to get into the platform is because it is simple to use even for newbies.

Registering an account is quite easy. You will only need a valid email address, create a secure password and then confirm that you don’t hail from any countries that it restricts.

The platform also features one of the most generous referral programs, perhaps the best in the industry. It incorporates a highly competitive low operational fee making it a top contender among the leading derivatives trading avenues.

What makes Margex a popular crypto derivative trading platform is its unique and generous referral program. Most other platforms that are known to offer referral programs feature tiered rewards and requirements. However, Margex gives you a flat commission fee of up to 40% of all trading commissions that are made by people you referred to.

Even though trading commissions may not be as marginally high, it still could offer you some source of side income. So even as you trade on the platform you can be rest assured that you also stand to earn some passive income in the form of commissions.

Conclusion

There is no arguing that crypto currencies are taking the world by storm. The banks and financial institutions tried to stop them but failed. There are various reasons why banks tried to derail the uptake of crypto by the populace. One of the reasons was the direct threat crypto currencies posed to the banking industry. Banks and governments worldwide have eventually realized that they can only just do little against the adoption of crypto currencies. They are now racing to adopt the currencies but are already late in their endeavor.

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