“From an outsider’s point of view, cryptocurrency and banking don’t seem to mix. Crypto is a thorn in the side of banking, and not just cryptocurrencies themselves; nowadays, there are crypto banks to reckon with. It’s a weird dance between decentralization fintech and the big bank cartels who have historically controlled financial services, but it’s being danced out.”

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It has played out countless times in countless countries, states, cities, and towns; everyday people need a financial hand only to be turned down by their local bank. The reason? Bad credit and no collateral. You only dance if you dance by the bank’s steps. But don’t fault the bank; there are rules to follow.

It has been everyday people’s challenge for ages. However, there is a new dance in town. It is more like the Tango, fast, furious and saucy. It doesn’t care if you have credit, but you still need collateral — cryptocurrency.

To learn more: Everyday people community: Are you in?

Crypto banks are catching on, and the banking world is taking notice. Decentralized Finance (DeFi) is here to stay, and smart contracts eliminate the need for third — party intervention, along with third-party price gouging.

It takes money to make money

Businesses are in business to make a profit; it is the nature of the beast, and it is no different in the cryptoverse. The difference is that everyday people can garner enough cryptocurrency to make a financial difference in their lives.

To learn more: Everyday people: you gotta have a plan

The DeFi sector of the cryptoverse is positioned to compete with institutional banking by offering everyday people (with enough crypto to back it up) a financial hand in ways traditional banks are not equipped to deliver. The dance has begun, and DeFi has taken the lead.

Traditional banks are beginning to adopt cryptocurrency to keep current customers and potentially entice new crypto-savvy customers. Larger, more forward-thinking banks (see below) are already in the dance with crypto offerings. But smaller, more traditional banks need to catch up. They need the technical know-how to compete.

Anchorage Digital

*federally chartered bank to gain crypto approval

*innovative fintech with traditional and regulated banking.

*offering crypto to people who already have bank accounts

BankProv

*FDIC insurance for USD deposits (crypto is not federally insured)

*offers Bitcoin ATMs,

*a crypto exchange, and even

*crypto lending services.

*one of the first nationally charted banks

*offering crypto purchases and custody to customers right inside their bank accounts.

Crypto banks have entered the financial industry as well.

To learn more: Are you up-to-date on the crypto-bank news?

DeFi is growing, building a new financial system independent of traditional banking. Blockchain technology is driving this innovation that cannot be retrofitted into an old system.

How this impacts everyday people

DeFi banking offers hope to everyday people willing to step outside their comfort zone and embrace a new reality. It is not a quick-fix, or is it a get-rich-quick scheme — it has never been. In some ways, it is like a rebirth of the great American dream. Dedication and hard work will pay off with financial freedom instead of the Just Over Broke mentality of an old system.

The everyday people community is coming and hopes to equip you for success.

The cryptoverse is for you. Join me as, together; we take the most unexpectedly incredible journey down the many paths it has to offer.

Disclaimer: I am not a financial planner, and therefore do not offer financial advice. I am an avid student of the cryptoverse who is willing to make available the things that I learn to everyday people willing to take a chance, change, and explore your financial freedom in the cryptoverse.

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