Warren Buffet supported NuBank Starts Crypto Trading

[Yugocean]

Nubank, a Brazilian digital banking platform, has begun offering cryptocurrency trading to its customers. Account holders are not need to establish a new account for this. Customers will have access to all of the Buy, HODL, and Sell features in one place.

For this, NuBank has teamed up with Paxos Trust Company, a bitcoin exchange based in New York.

Paxos is a regulated blockchain infrastructure provider that will function as a custodian and broker for Nubank's crypto trading platform.

With 54 million customers, NuBank is one of the world's largest digital banking platforms. Simple and east crypto trading could be a significant step forward in the realm of cryptocurrencies.

The funny irony is that Bitcoin sceptic Warren Buffett's Berkshire Hathaway is a current shareholder (owning 3%) of NuBank. Buffett recently said that he doesnt believe in crypto, and will not support any cryptocurrency. People are now wondering what Buffett's reaction to NuBank will be.

 

[ameeni]

Nubank, a Brazilian digital banking platform, has begun offering cryptocurrency trading to its customers. Account holders are not need to establish a new account for this. Customers will have access to all of the Buy, HODL, and Sell features in one place.

For this, NuBank has teamed up with Paxos Trust Company, a bitcoin exchange based in New York.

Paxos is a regulated blockchain infrastructure provider that will function as a custodian and broker for Nubank's crypto trading platform.

With 54 million customers, NuBank is one of the world's largest digital banking platforms. Simple and east crypto trading could be a significant step forward in the realm of cryptocurrencies.

The funny irony is that Bitcoin sceptic Warren Buffett's Berkshire Hathaway is a current shareholder (owning 3%) of NuBank. Buffett recently said that he doesnt believe in crypto, and will not support any cryptocurrency. People are now wondering what Buffett's reaction to NuBank will be.

One of the ways that government can control their citizens is by interfering in their finances. As the main medium of exchange these days, if you can restrict or release the money at will, you can get people to do as you wish.

The decentralized approach that cryptocurrency, especially Bitcoin has taken makes this really hard.

Another thing to consider is that the government has the interest of its citizens at heart. Cryptocurrency can be used for all forms of illegal transactions which can hurt those citizens, directly or indirectly whole they have no power to control such. For example, money laundering, or black market deals can be made easier with the anonymity of cryptocurrency.

Another reason is that cryptocurrency is a means of transacting huge sums of money without paying tax to the government. By bypassing traditional banks where the government has some power to get taxes and generate revenue, cryptocurrency ensures that such money goes to individuals instead. Government need such money to carry out projects and keep things running, so it's no surprise they don't like cryptocurrency.