Banking apps manage your money. Digital wallets give you control — Here’s why that matters.Continue reading on Coinmonks »Banking apps manage your money. Digital wallets give you control — Here’s why that matters.Continue reading on Coinmonks »

Banking Apps Already Exist — So Why Do We Need Digital Wallets?

2025/10/03 20:16

Banking apps manage your money. Digital wallets give you control — Here’s why that matters.

ABC's of Crypto
5 min read
·
Just now

--

Share

Press enter or click to view image in full size
Photo by SumUp on Unsplash

You already have a Chase app. You’ve got Venmo.

Your bank does everything digitally now.

So, why is everyone talking about “digital wallets” as if they’re revolutionary?

I often buy crypto late at night, especially on weekends.

Last weekend, after reading about Tesla’s share price surge, I opened my trading app, only to realise the stock market was closed for the weekend.

I had forgotten that stocks don’t trade over weekends. Even when the market reopened on Monday, I’d likely pay more and a commission fee.

That’s when the penny dropped! Banking apps and digital wallets might look similar on your phone screen, but they’re built for completely different worlds.

Why Financial Experts Think This Changes Everything

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise

China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise

The post China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise appeared on BitcoinEthereumNews.com. China Blocks Nvidia’s RTX Pro 6000D as Local Chips Rise China’s internet regulator has ordered the country’s biggest technology firms, including Alibaba and ByteDance, to stop purchasing Nvidia’s RTX Pro 6000D GPUs. According to the Financial Times, the move shuts down the last major channel for mass supplies of American chips to the Chinese market. Why Beijing Halted Nvidia Purchases Chinese companies had planned to buy tens of thousands of RTX Pro 6000D accelerators and had already begun testing them in servers. But regulators intervened, halting the purchases and signaling stricter controls than earlier measures placed on Nvidia’s H20 chip. Image: Nvidia An audit compared Huawei and Cambricon processors, along with chips developed by Alibaba and Baidu, against Nvidia’s export-approved products. Regulators concluded that Chinese chips had reached performance levels comparable to the restricted U.S. models. This assessment pushed authorities to advise firms to rely more heavily on domestic processors, further tightening Nvidia’s already limited position in China. China’s Drive Toward Tech Independence The decision highlights Beijing’s focus on import substitution — developing self-sufficient chip production to reduce reliance on U.S. supplies. “The signal is now clear: all attention is focused on building a domestic ecosystem,” said a representative of a leading Chinese tech company. Nvidia had unveiled the RTX Pro 6000D in July 2025 during CEO Jensen Huang’s visit to Beijing, in an attempt to keep a foothold in China after Washington restricted exports of its most advanced chips. But momentum is shifting. Industry sources told the Financial Times that Chinese manufacturers plan to triple AI chip production next year to meet growing demand. They believe “domestic supply will now be sufficient without Nvidia.” What It Means for the Future With Huawei, Cambricon, Alibaba, and Baidu stepping up, China is positioning itself for long-term technological independence. Nvidia, meanwhile, faces…
Share
BitcoinEthereumNews2025/09/18 01:37
Share