What is a crypto bank?

The key difference is that crypto banks revolve around cryptocurrencies (also known as digital currencies) like Bitcoin for transactions rather than fiat currencies like U.S. Dollars or Euros. Crypto banks are also different than standalone digital wallets (also known as cryptocurrency wallets) and cryptocurrency wealth management platforms.

What is the cryptocurrency app?

We operate an easy-to-use app that allows users to access interest-earning, buying, selling and trading in cryptocurrencies, in one single place. Our vision is an open, global financial system that is easily accessible to everyone.

What is arbitrage in crypto banking?

In the case of crypto banks, arbitrage is defined as the difference between the interest rate the platform pays to crypto interest accounts and the interest that borrowers pay to the platform. The arbitrage margin (profit) is much higher for crypto banks compared to traditional banks.

What are the advantages of crypto banking?

The main advantage of crypto banking is worldwide availability. In many countries, traditional banks have failed their customers. Issues like lack of banking infrastructure or deposit insurance, hyperinflation, high remittance fees, and bank closures have prevented economic progress.