The crypto market has seen a severe crash in the past few weeks. The whole market cap has dropped drastically pushing the currencies down sharply. Not only cryptos but stocks and the world economy have also taken a massive hit. S&P 500, the best performing index fund in the world is down over 18% year to date. During these times of extreme uncertainty and FUD, people tend to panic and sell making the resultant market oversold. On the contrary, history has also shown how the bear market has created millionaires. Merely holding through a bear market and investing responsibly with dollar-cost averaging is the key to moving ahead while everything is crashing.
Amidst this crash, Digital Life Bank aims to bring stability by allowing investors to store their crypto assets in a traditional bank as opposed to exchanges. This has turned out to be a brilliant amalgamation of traditional finance and blockchain-based currencies. Not only does this increase security but it might also help with adoption for people who were previously skeptical about the overall crypto space. Unlike exchanges that create severe fear, uncertainty and doubt through repeated notifications during a crash, Digital Life Bank allows users to calmly store their bitcoin holdings in their secure wallet. The UI and UX of the banking application are also extremely user-friendly and easy to navigate so that users can customize notifications and views within the application. Without third-party involvement, users can store assets directly in their bank accounts. The bank also issues a debit card where payments can be made using these assets. To the surprise of most people, Digital Life Bank allows the holding of a lot of major currencies apart from Bitcoin. This list includes Ethereum, Cardano, Tether, and many others.
The SOLEIL INSURANCE licensed digital assets banking platform also allows users to earn yields on their crypto holdings. So, not only does the investment pay off, but the holdings also increase if these services are availed. We’ve seen the DeFi market grow and progress for the last couple of years and institutional investors are constantly looking for regulated and trusted parties to provide services in the space. Digital Life Bank is one of the first banks in traditional finance that has bridged the gap to eliminate skepticism that has been revolving around the space for years now. Furthermore, the bank is working on partnerships with big names in the market. This would not only make the platform one of the most secure places to store digital assets but will also help people earn and make money even while the market crashes.
We already know that the crypto market is relatively immature as compared to markets like real estate, NYSE, and NASDAQ. While this immaturity gives room for volatility, it also brings the massive potential for vertical gains in the short and long term. Storing these assets in a secure and safe place and letting them grow for years to come is the best step ahead for now!
Angela Spearman is a journalist at EzineMark who enjoys writing about the latest trending technology and business news.