Wells Fargo Shutdown Won't Happen with Cryptocurrencies


The biggest strengths of cryptocurrencies were highlighted recently by the system shutdown of Wells Fargo. Customers of the bank were unable to access their accounts, leaving many without the ability to make any transactions. Cryptocurrencies like Bitcoin have processed transactions 24 hours a day for over ten years without any outages. Users of cryptocurrencies have the ability to store their own assets on wallets, always having access to them without the ability of a third party failure (like Wells Fargo) to affect them. Also, the networks of cryptocurrencies is strengthened by computers distributed around the world, so even a power failure in an entire country would not affect the network. The situation that happened at Wells Fargo is never a problem that could happen with cryptocurrencies.