Cryptos become the saviors of the modern financial system

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2018-01-08
Photo: Cryptocurrencies today
Cryptos become the saviors of the modern financial system

Today, when the digital currencies became truly popular and successful, people question the possibility of making them real methods of payment. So far, more and more world banks show the signs of crisis. EU has been in a severy financial crisis since 2007–2008. It is actively looking for new ways of saving its financial and monetary systems. Some European countries are more in favour of digital currencies and the other countries are more conservative in this sense. Recently Italian government officially formalized the rescue of two medium-sized banks — Banco Popolaredi Vicenza and Veneto Banca — both of them were on the verge of bankruptcy, as those banks did not manage to find an investor on the markets to help them.

Such situations force investors across Europe to question the security of the banking system. Specific attributes of the unprecedented rescue of Cyprus banks in 2013 led to a significant increase in Bitcoin’s price, as investors sought safe havens and access to liquidity.

Tags:
CRYPTOCURRENCIES
  • bitcoinBitcoin$5,215.26
  • ethereumEthereum$179.21
  • rippleXRP$0.354323
  • tetherTether$1.00
  • eosEOS$5.82
  • stellarStellar$0.126256
  • litecoinLitecoin$87.29
  • cardanoCardano$0.088079
  • tronTRON$0.030025
  • moneroMonero$68.90
  • iotaIOTA$0.348990
  • nemNEM$0.072948
  • dashDash$131.95
  • neoNEO$12.45
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