Bitcoin Forum

I went to my bank today to change money to foreign currency because I will be traveling abroad soon. I asked the lady what are the current annual interest rates if you decide to give your money to bank for certain period of time without being able to withdraw that money (Savings Account).
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?

The banks here offer similar rates, it is not great but still better than nothing. It's hard to see that 1.3% is a good rate with the crazy profits we are seeing on crypto but you have to consider that 1.3% is guaranteed, where as you could lose it all on crypto with the fluctuations in price.

Annual interest in my country is between 1.5% - 2%, it has always been like that and I think in all countries is the same. Look, bank is using your money to earn more money, if they give you higher annual interest then their profit will be much smaller and probably unprofitable for them. It's not really funny this is reality.

1.3% for a risk free investment isn't bad. It's considered risk free with guaranteed returns because its government backed but that's still a trust based sentiment. Investing-wise, it's not great returns, but it's the base you should use to calculate the risk/return margin. See https://en.wikipedia.org/wiki/Sharpe_ratio
https://en.wikipedia.org/wiki/Risk_free_rate

I don't think banks offer anything in my country right now.

The only incentive to have money in the bank is the payment network and you have to pay to use.

Good thing you got 1.3% interest annual rate for your savings account, mine was like 1% only. That was once of the reasons why I withdrew some of my savings money and bought bitcoin for long term investment and gladly didn't regret the decision I've made because the savings I invested profited more than the annual interest I got from the bank.

1.3% is a joke, i don't think the value will be higer later on due to inflation. If we compared it to bitcoin then surely you can get better value for your money by putting your money into bitcoin. But why is the rate in your country so small and that's the highest? in my country you can get up to 5% for local currency and about 1% for dollar.

50% better than 1,3% but if bank gives 50% inflation is 100% and it is terrible. So 1,3% not bad I think.

Fixed deposits and investment plan are jokes for banks, they are basically took your money lawfully while not disclosing how their earning would eventually pay off your one figure percentage returns per annum, just some basic math and you would see few hundred thousand is needed to make a significant amount of 'cash' to be free for a month. Banks are really just institution to keep your money, nothing more than that my friend. Relying another party like bank to make you money is just not worth at all, better invest in crypto.

I do not know where you leave, but in fact, annual inflation in the European Union is about 2% per year if I am not mistaken. This means that anything 2% per year is just a pure stealing, as it is the very same bank which is printing boats of bank notes on your back, but that is another problem, which is about the deep flaws of the current economical system.

That's the result of the policies of the governments across the world. Generally people save their money in Banks and prefer to earn some interest on it even if it low so that is indirectly a kind of dead investment. However, when they put their money in stock market, they are pouring money in to the economy directly without any middlemen which helps the economy to grow. Governments want to boost the economy either by making loans cheaper for the businesses or indirectly forcing us to pour money in to the economy.

APY (Annual Percentage Yield) on bank savings accounts were higher years back. There were a few banks which offered as high as 3% to 5% APY, if I'm remembering correctly. Even IRA Roth interest rates don't appear as solid as I remember them being with the highest today being around 2%.

Its key to note that the formula utilized to calculate inflation has changed over time. Using the old method to calculate inflation, real inflation is closer to 8% (or higher) in most developed nations, including the united states. This is very similar to the unemployment rate which no longer reflects the true rate of unemployment. U5 or U6 are better metrics of unemployment.

Its not easy to find methods which pay higher interest rates than inflation. That's for certain. Wages too are growing at a slower rate than inflation which is troubling when one thinks about the long term implications.

Are you expecting something good upon depositing your money to the bank? It's not the right place for investing if 1.3% isn't enough for you. Remember that you are only depositing and opening a savings account to them and that rate annually is good to be true. Banks will never give us big profit as they are the ones that will get too much profit from our money. Almost the same rate in my bank and there's also a tax on it so let's say you've earn 1.3% annual interest, multiply it with 20% tax.

In Europe with Euribor tax near or below zero for ages 1% is something VERY good you get from certain products. I just checked my bank webpage and they are giving 0.05 for 6 months deposit and 0.5% for 1 year:)

if you compare earn and profit in online with bank interest not compatible
bank interest is low, because comapare with loan too, if loan is big interest, country can colaps can't develop road and more

This is one reason why banks are afraid that if bitcoin will become a legal tender it can possibly kill all the banks in the world because bitcoin offers highest interest rate in fact putting your bitcoin in your online wallets gives so much rewarding profit aside from the fact that our wallet is very convenient and easy to access unlike banks also banks choose their clients while with bitcoin people has the freedom to choose.

On the other hand, banks issue money, too, at a low interest. And you can invest them in the bit/altcoins and get 10,000% per annum.

The interest rate is low because the central bank's interest is very low as well. And higher interest rates are inevitably going to pose significantly larger amounts of risks. I don't think it's a very smart move to keep a lot of money in a bank account though.

Here in the Philippines, we call that as time deposit where you will be unable to withdraw your money on a specific months or year. Sad to say that we also have an interest rate of 1.25 % a year! Many inveestors said that cryptocurrency unmask the Banks hidden agenda. They are using your money without your knowledge and earn 1000 times or more than 1.25% interest rate they are giving a year. Those interest rate from the bank is a big proof of scam and greed in money.

Yes it is true even you think that is a joke as a Bank will not be loser at all cost, it is just like you fool yourself to give them your money that you can't get anytime you want and yet it is losing value overtime because of inflation, most of the people that wants to save money do that kind of thing because they think that they can really benefit from it but it's the reverse.

Bitcoin is much more better for investment compare to the Banks that the only intention is to consume the money of people that trust them because of so many hidden charges and fees.

Putting big money on a bank is really useless for me and don’t expect to earn big profit. Instead diversify your portfolio to gain more profit, it’s really true that bitcoin offers low interest rate that can be result to devaluation of you money due to inflation rate.

Here in my place, inflation rate is much higher compare to interest rate that banks offer so if you are wise enough then don’t put much money on the banks, you will loose some money because of inflation.

1.3% is a loss after even the official inflation rates. Realistically, 1.3% is a horrible loss.

And as far as fiat being risk free? Hardly. Just look at how different currencies fluctuate. The CAD lost over 6% against the USD recently.

Eventually enough people will figure out that fiat isn't really worth anything, and the little value it has loses purchasing power daily. Investors already know this. When the masses figure it out, they'll join the investors in finding places to park their money better than a bank.

While I've been skeptical about asset-based ICOs, they could play a very real role there. That is, for example, in a real estate token, you could dump fiat into it and have, just for example, say 0.025% of a house, or a small fraction of a commercial building. While they're still subject to market prices, real estate (in some places) only goes up, and does so well ahead of inflation. That would be a good place to park wealth in for people with little capital. No large investments, and just that token to show ownership.

I think the bank will pay you far less than a mortgage rate so they make money. That's really what it comes down to. Mortgage rates are low, so 1.3% is the most they'll do? What a useless meaningless number. It's worse than nothing because you're losing buying power. You've come to the right place to beat inflation.

It's about the same to be honest, there is typically little in excess of 1.5% if you're lucky, there is maybe one instance I can think of that does have closer to 2% but you have to deposit a certain monthly amount into the account in order to maintain the interest rate, otherwise it drops and you don't have the same interest rate, it becomes lower than 1.3% if I am remembering the deal correctly.

I know there are some investments that I could be making more use of which would be returning close to 8% or 10% yearly, but I haven't looked into them yet and they're fairly new, so there's no good indicators as to their longevity.

You are actually lucky to have 1.3% interest rates for a Savings Account in your country! Imagine on our country, our highest as of the moment is estimated at 0.75% only excluding tax rates  :'( It is literally putting your money down the drain since it does not earn enough interest to beat or even ride along with the inflation rate. Since our country is a third world country and people here are traditional and conservative when it comes to their finances, they all think that saving money in the bank is enough for their retirement in the future.

It's partly stupid low interest rates that make me interested in crypto. I have loaned out my coins on Poloniex for 0.1% per day - I highly recommend the CoinLend (https://coinlend.org) bot for that (it's free).

Currently I'm looking hard at Bitcore (BTX) (https://bitcore.cc/) - it gives an airdrop of 3% every Monday. I have a few $100 in it and so far it has been a good payer. I'm tempted to go all in..

Egypt actually has insanely high interest rates, something like 10% or more if I recall correctly. That's not going to be sustainable for them though, and the people of Egypt will likely suffer the consequences in the future.

Yes I think that 1.3% is a joke and not enough because the banks will be earning at least 10% on your money, but unfortunately you cannot cut out the middle man, the bank also offers security so it's effectively a risk free investment and that is why people are so willing to accept a low rate.

In our country as well inflation is at much higher rate than the bank interest rate. Now people are really worried because of this as actually they are in a loss as inflation eats up their savings as well and bitcoin is providing some hope to all the people that their investment will be fruitful in the coming time.

It seems to me that you live in a country where there is no inflation. This is probably Paradise. Such interest should be enough with great difficulty to cover the losses from inflation. Maybe it's the rate per month? Tell me where is heaven on earth? Seriously it seems to me that is robbery. The banks are bullying people. You did not ask by what percentage the Bank gives a loan? You can be profitable to take a loan and buy bitcoin now?

Which country you are living i dont know but here in my country the interest rate for Savings Account is 3 or 4% for national bank and some private banks are giving upto 6 to 7% interest rate if you keep balance in your savings account.

If the investment would be in BTCs it would worth a lot, but as it's fiat better to stay away... 1,3% is already too low compared to the profit we make just by holding Bitcoins with the aggravating that fiat loses price each new year. At first impression it can look a good investment as you just let your money resting at the bank with full guarantees of return after X time. But it's not.

Better to invest in BTCs or in a piece of land where you can buy cheap and build or produce something to generate income.

I think that is pretty good for what banks give out I think at mine the average account has 1% and top accounts have like 3-4% but still it isnt much in the end. 1% doesnt even beat inflation if I were you I would have laughed and left that place right then and there. This is why banks will get phased out once people get smarter and learn to invest in ways that can help themselves they will stop using banks as much as possible.

The interest on bank deposits is guaranteed, while Bitcoin is very risky. That's why it's so low. But inflation considered only people who don't understand money would save in bank accounts instead of buying other assets of varying liquidity.

Hah. You're at least getting 1.3%,be happy I should say.  The banks in the country that I live in provides interest of 0.2% per annum,that sucks and unfortunately I don't have a choice but to have a bank account with that bank because of my company's dealing with the bank, to have their own employees salary account in the bank and in return, the bank will provide overdraft facility and a few more premium facilities. Which brings me to cryptos, where you can trade and invest that money and get way way more then the 0.2% interest. Hell, I can even get double the rate of my investment. So if you want to go for that 1.3%,you can go, but from my point of view you can make a better use of that money.

Yes and meanwhile the banks use people's money to make decent profit for them and share only little percentage... I believe if there were more concurrency of banks it would be better even with fiat investments. This way banks should compete among themselves to offer the best rates for investors.

Keep in mind that the banking system became (sine the monetary revolution in the last century) a culture. Yes it's a culture of holding funds in the bank and we will get profits. Even we dont get it, but we are still convinced that the banking system is worthy safe and out of fraud, and that's what make banks profits from the funds depostied. Banks succeeded to install background culture that the bank is the safest place on earth to store everything then start raping people that their vision (culture) started to be the only solution. By now, that ideological power has started to be discussable in large perspectives with the rise of cryptocurrency as a real store of value.

It is quite small in comparison to what can be earned if the same money is being converted into bitcoins and then invested. The take is quite high. I guess the lady that responded has no idea of what investment offers that can yield x30 of what they are offering. Well, the bank interest rate is somewhat sane generally and they have the mentality that it is a fair gain on what they are offering. When the opportunities in the Cryptocurrency currencies fully dawns on the general public then the bank will be exposed to the ridiculous interest they have been giving and still bragging about it.

That 1.3% is good enough, banks cannot offer us higher interest rate because our fiat cannot earn as much as bitcoin does unless otherwise it would be use in illegal activities. Bitcoin as of today can offer as much as 100% interest rate because its unstable and always fluctuates but if time comes bitcoin got fix amount we will also get fixed interest return on our savings and investment

Just the same s yours , that's why I don't want to put all my money to banks because my money will just sleep there it's better to invest in on stock market or cryptocurrency only then can I expect to have a good returns in the future

It is without doubt the biggest joke i can even think of. Thats why i made sure that i removed all the money that i had in my bank accounts and used it all to purchase bitcoins. Within this year alone, the value of bitcoin has already risen by more than 800% and though there has been some minor set back this week am sure it will continue to rise.

I love to do that also my money on banks just  sleep there was no improvements even if I let it stayed for about 5 years I always lose because of the inflation ! much better if I will just pull it all out and invest in crypto and break that 1.3% per annum interest rate.

1.3% interest rates in Savings account??? that's a biggest scam ever..  if you going to invest in Bitcoin you'll see the interest rate for a month or even a year. i highly recommend bitcoin savings to all my family and friends

It is strange here to writing about banks' offers because it is totally another type of value storage, invest, risk and much more. I think that currently we should not compare any crypto to banks. Because most of crypto are not perceive in the same way as banks by people and goverments.
I can agree with you that sometimes the inflation is higher that a interest rates and we can only lost our money... What should not have place in modern world but it still has one...

That 1.3% interest rates is so low, but most people save their money at the bank specially those who running a business because they think that bank is the safest thing to do when you want to save and invest all your money. But it is a traditional way of saving money. Now a days, there are lot of ways to invest your money not just in a bank but here in bitcoin also where in not just 1.3% interest but a higher one which you could not imagine the increase of your money.

it is very profitable with 1.3% and the bank interest with investment bitcoin is a different philosophy matter . although price growth in bitcoin differs considerably from bank interest, but subtance aboout cryptocurrency and money interest, have a many elements strengthen growth and this same  .

Obviously banks will always put a interest rate which is profitable to for them and not to us. This is really a joke where you keep your money at the interest rate of 1.3% while on the other hand the same bank will distribute the money as loan to other customers at the f* rates of 13% - 15% depending on the type of the loan they are taking. I mean thats ridiculous they earn all the way 10% commission by using our own money. Its better to take loan license and spread the eggs by all yourself. Earn yourself and keep the banks drained with your account. The devils of the financing sector!

The problem here is that most people don't know anything about finance, so they aren't even capable of conceiving the benefits of compounding interest. That's why so few people actually invest. As long as this doesn't change banks won't ever get into a situation where they have to offer better service either.

When investing in bitcoin, no one guarantees profit and safety of funds. You can both earn 100% and lose everything.

Giving your money to banks has been a bad idea since forever, even if bitcoin did not exist it will be a better idea to invest in stocksor in whatever other investments you may like, most banks offer interest rates based on the bonds in the market and if the interest rates bonds offer are low then the interest rates banks offers need to be even lower since they get a cut of that.

Not only that the interest were too low, some banks requires you to keep all the money without withdrawing them for such a long period of time in order to gain interests. 1.3% is still high as majority of the banks only give 1.25% with a maintaining amount balance of $20K. If you want a much higher rate, then go to a not well known bank where you will only share rates with few investors. However, this will put you much at risk once the instituition won't able to attract people that willing to trust their money in it.


That's where financial institution comes in, it doesn't guarantee you to earn profit through their ridiculous rates but it keeps you assured that the money you put in it is safely secured.

It's not the worst option. There are banks that offer them to pay for what they keep your money. That's the reason banks have a monopoly on using our money. But now the situation is changing. Cryptocurrencies create greater competition for banks. This means that banks will do everything to destroy cryptocurrencies. We need to prepare for war.

it is true that investing in our income bank is very few only a few percent, but there is an absolute advantage and not at risk.

You lose more than that to inflation itself so getting such a small percentage of interest rate is nothing but a joke. You can make that much in a day with Bitcoins.

There were many banks that were supported by the government but failed at least in my country. In my opinion, only safe savings are the ones you are holding in your pocket. 1.3 percent% of investment is actually very low if you ain't investing a large sum of money. People which will tell  to the OP to invest this investment into cryptocurrencies probably don't recognize the value of hard-earned money. Every investment is risky.
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Even if the investment into the banks has smallest risk OP must decide for himself and compare the security of the certain banks to the others.

Keep our earnings in the savings account is just waste of it,you need to keep your money in banks if you don't want any return,but it is better to keep it in gold bars than banks.
But if someone wants high returs then investment os the option but it is not risk free so you need to decide risk free or high returns.

This is risk rooming around your head. It is just like a sword hanging over your head that can fall anytime and cut your head. In trading or investing in bitcoins, there are profits and losses that can be your fate, according to your performance and concern. Nobody can assure that he will be getting profits every time when indulged in bitcoins trading or investing, you must be ready for both.

yea its really a joke ever i heard. i mean even in india interest per annum is 4%

I think 1.3% per annum is quite low. In my country, that is also the case. It is a little bit funny because when we save money in the banks, we get low interest, but if we loan money from a bank, the interest rate is huge.

Actually I do not feel I can earn a profit in depositing my money in banks. Its the bank who can gain bigger with our savings. Aside from that, I feel my money is not safe in the banks. Better to invest my money in crypto world.

You can't feel that interest growth unless you have millions of dollars deposits. The banks primary function is just to secure and lend your money to borrowers but calling it investment is inappropriate. I trust banks a little since I put some of my life savings there I don't really care about how much interests they gave I just want to keep my money secure since there's no secured options at all.

Interest in investing is different from savings account in which you want your money to be keep by the banks in which it will earn 1.3% per annum. Bitcoin is much different because we invested it in which it will depend upon the fluctuation rate in the market which is very risky unlike in the banks they secure our money as savings with although low interest but stable and safe.

That is the reality,  in our country banks give only .25% per annum to your savings. Banks are for security only not for investment. Banks will just use our money for their gain

It is not a surprise to see traditional banks offering such low interest rates on their savings account for their customers, and that is one of the main reason I would choose to invest most of my money by myself rather than keeping those funds into a savings account with the bank.

The bank is the low interest rate to take deposits, and then make interest rate loans to others!

That's how they earn it!

The emergence of digital cryptographic currency deprives Banks of large profits, so Banks are afraid of digital encrypted money!

Exactly! that is why this should be an eye opener for those depositor as banks does not give fair rate of interest with your hard earned money, you are just having your wallet in a bank for a safe keep and the worst thing is that you are still obliged to pay for the tax on  the interest you have  earned. Unlike here in crypto due to volatility you are earning more of that.

So funny the cashier was. She may be in a sarcastic mode that time who knows ;)

The rare of interest on savings account in my country is a little bit higher than yours and lies between 3-4%p.a. but it's still good because they make this ratio after analyzing their profit share and they cant increase it. But the same amount if invested in crypto can yeild better results but it knowledge to choose right project otherwise you can loose all your money.

That's way no one is saving their money at banks anymore because these rates are very outrageous and it would have been good if they invested their monies elsewhere than giving it t the banks to do business with.

This is formally a moved by the system of banking where they want to initially stop Bitcoin development becasue most of them know that Bitcoin as a form of cryptocurrency had the opportunity to lose against to Bitcoin and other cryptocurreny.

Banks can ask to governments to change the laws to forbid bitcoin, but at the same time that is all what they can do, they know they cannot block bitcoin because of its decentralized nature so the reason they are trying to avoid banning it is because they know that when they do that they no longer have any other weapon against it and if that fails then everything fails.

You are talking of which country? USA? if it is so then i think the rate is all ok

That is the reason why most of the banks had much revenue as they only give smaller interest rate at 1.3% to the depositors. Yeah it's a joke which is far from investing at cryptocurrency. Since the popularity of crypto had become bigger this will be a threat to the banks as time goes by, no one will ever deposit to them as people will prefer to invest in crypto currency.

Thats a rubbish talk. there are way too many banks that give interest more than that -_-

Worst banks were even offering 0.005% interest annually for saving your money with them which I think is not fair enough, that is why they were so against cryptocurrency because of the earning that cryptos can provide with us that cannot provide by the bank.

You are mistaken, leaving your money in a bank has a lot of risks as well in most countries if your account is an investment account you are not covered by the government so if you lose your money you are out of luck, and even if you have a savings account and your money is protected by the government there is a limit and any accounts above a particular threshold will not be protected by the government.

Basing on my experience and knowledge I do only knew about on banks which do offer 1-2% maximum annual interest but the interest you are talking here is way too horrible and I don't even consider it as an interest with the money we have saved on with that particular bank.Its way too unfair on depositors side,unless if you do put it on time deposits but still it isn't enough or considerable.They don't really like crypto because they do know its capability.

Thats why banking is so profitable.   They are literally lent money at no cost for almost a decade now.   Its part of how politics funds its budgets, basically creating inflation and requiring the banks to buy their government debt and so continue the ongoing system.  This is not capitalism. 

When you consider inflation, also look at headline interest rates.   They have been negative quite often and this is part of why the rates paid by banks is so low.   Banking should not be centralised to the state like this, this was one of the original aims of the communist state for example over a hundred years ago.

That is why I never put my money into the bank for saving purpose. If I want to save my money, I buy gold or bitcoin. HOwever, I believe that it is not necessary to save money if you want to become rich. Investing is an activity which can bring us most of the money. Try to invest your money instead of saving if you want to become rich

It depends in the bank, here in our country (Philippines) the range of interest in savings is .025 to 1.5% mostly the banks offer small amount of interest is commercial bank that is why bank is only hold our money for security and dont look for the income.
For now i prefer to save in bitcoin in short term than putting my money in the bank with long term to get an income.

In my country we have like 18% a year annual interest rate, but the on that period when the price of our currency decreased :3 times which means if you have your funds on bank you will get minus 280% and with inflation it's not even profitable hold money like that, better to invest at more volatile stuff

They are just doing their job. they too know that its not much but for sake of their job they are saying so that they dont get fired LOL

Well banking is very profitable for a very simple reason they are basically given money for free and even worse they can create money for free when they lend money they use fractional reserve banking they only keep a small portion of that money just in case people want to reclaim it but they can print as much as 10 times the amount that you deposit with them this is why they hate bitcoin as they will not be able to do the same.

I feel sad for the people who are putting all of their hard earned money in their savings account in the banks for thinking that it will be good because a lot of their friends told him that it is the best place to store money and that is why a lot of people are not improving because they lack of knowledge. I hope that after a few years, people will not always put their money in savings account and learn to invest.

What happens is that governments make an effort to keep the people ignorant about what they can really do with their money, that is why almost no one saves, and the ones that do it just keep their money in their homes or in their bank accounts not realizing that doing all of that is just a waste of money and time, what they need to do is to invest in something even if I do not like stocks that is way better than to leave your money doing nothing.

This has been the general trend over the past three decades. In countries such as Japan, they are having negative interest rates. So if you want to keep your money in the bank, you need to give them money. In other countries also, the interest rate is going down with every passing year.

What is the only truth concerning banks and their existence is to achieve the greatest profits,and that certainly can not be achieved if they allow their clients to benefit in working with banks.So if they give as 1.3% interest rate,user need to invest big money to get something from that-but for some small deposits it is not worth mentioning.At the same time bank will work with our money and make much more profit then 1.3%,so actually we give them our money which they use to make profit,but in the same time they will give us some dust interest at the end.

What would be a fair deal is that client give bank money,they work with that money for the agreed period and then the realized profit is divided in equal proportions,let's say 50-50.But then banks would not be what they are today,and a good deal of people in the world would live much better.

in my country there was the banks which is give 2-3% for annual interest rates for every year and indeed almost banks all of in the world will never give annual interest rates more than 5% but it's very different if we loan money from bank that we should repay over than 10% for annual rates

Interests from banks only benefit the extremely rich and oppress the poor. Time value of money would have changed significantly to receive 1.3% interest on your investments. Unless you have so much money to invest  with banks you don't get any good intrest. It is better to let your money grow for you by starting your own business than investing in banks. It's even better to take absolute control of your money if you invest in cryptos than in banks.

Banks are not originally made for you to earn income. Banks are made to protect your money and for it be secure. Even if you earn a (small) marginal interest in your savings, you won’t actually earn that much. It’s sort of like an incentive for keeping your money in the account and for not spending or withdrawing it.

That is not a joke, some huge banks in the world (like Japan) they offer 0% interest rates. They do this because of the monetary policy in their country to adjust the deflation rate. It's very difficult to believe but it's the truth :)

according to my experience. banks in our country take advantage in various sectors not just in term savings only. indeed the interest rate offered is almost the same as in your country. but the banks in my country offer various levels of interest rates for a varied period of time so that we can choose the interest rate according to the level offered. at most 6 percent per year for term deposits.

in the philippines back only offer 1% interest for the whole year.. its too low compared to crypto but like they said high risk high reward, low risk low reward..

The problem with banks is that the risk is not low at all banks go to bankruptcy all the time, people think this is not the case because they don't see all the banks disappearing at the same time, but believe me in all over the world there are banks facing bankruptcy every month, and there are many people that lose their money because of it so the risk is not as low as many people think.

but nevertheless people on the deposit lie in the bank less than it is proposed to invest in Bitcoin. But nevertheless Bitcoin is already beginning to beat many people by pocket.

1% return is not low risk low return, its no return at all.   IF you include inflation in the monetary supply in your profit calculations or just the cost of food rising every year then your 1% return is losing value as inflation is over 1%.

To gain 1% value interest but the money now buy 2% less means you didnt gain anything at all.  Its been this way since 2008 and they launched bank bailouts with larger government debt, all financed by printing more money.
Same goes for wages.   This is why many look for alternatives, normally bank interest would retain the deposits of the majority who earn in conventional business and then save their wages.   If there is no gain people take far greater risks to achieve a return or just not lose money saving for a house or retirement even.  This isnt a one off, its a big trend for a while now

That would be great if human race efficiency and welfare gets to the new time of golden age.

It is a normal percent if you want to get more you should to taker a look at goverment bonds because this assets are without a risk. For more profit you should to take a risk and there are a lot of assets to do.
In developing countries an interest rate may be 10% and even more but inflation and other riks are huge. Smart people from developing countries hold thier savings in major currincies (dollar, euro)

Profits from savings deposits are decided by the banks and are adjusted continuously, not fixed. In our country they allow interest rates of 6% a year and not to mention double-digit inflation of about 15%. I think 6% profit vs. 15% inflation is a loss in investment.

Thats the F*cking problem with that damn banks thats why many of us converted our money to crypto because of unfair treatment of the banks.imagine they uses our money to put in stocks or any other profiteering but they only giving us just a tin part of our own money,isnt that unfair?

Thats wy those whos investing their money in bank stil,full them out and put here in crypto lol

It's ridiculous that the interest rate they give you is 1.3%, and the interest rate they charge to others may be 8% or even 10%. For years, the obvious fact is that you have to put money in the bank to devalue every day, because the interest rate you get can't resist the rate of inflation at all.

1,3% is a good quote, in my country, with a negotiated interest i got 0,6% so you can imagine how things works. It is incredible what happens with the banks. They explore all the possibilities to gain money, if it would be secure to hold the money in my house i would hold the money under the mattress, but it is dangerous, you never know.

It's a savings account, it's one of the safest and therefore lowest return investments you can make. Return is correlated with the risk of the investment, and if it's too low risk low return for you, don't put your money in a savings account. Banks are in the business of underwriting loans, and in order to do that, they need deposits. If they don't have enough deposits, they raise interest rates to attract more money chasing low risk returns. So in many ways, bitching about the return on savings account is pointless because it's a market-determined rate. It would be like complaining that everyone else thinks Bitcoin is worth $9,000 (which is the market price) but you think it's worth $15,000 and are mad at what the market has decided. If the rate is too low, don't put your money in the bank. Or better yet, if banks have it so good because they pay so little and charge so much, start your own bank if you think it's just so easy.

Actually 1.3% interest for a year will be joke.In some bank they offer 5%  for holding the money for a year.But for that you have to hold the currency at same value every month.If you want to get 10-30% profit for a period of 6 months- 1 year.Bitcoin is the only known option.Nearly 2500$ variation in a month.As compared to bank , bitcoin is the best one.

Although 1.3% is a very small number, banks are a safe bet for those who want to save money. Only those who invest as we are new never choose a bank that makes a lot of money

Of course, that is how banks operate and survive until now. Their interest will always be higher than the interest we deposit. so they will never lose money. They take this person's money and lend it to others

You're right. They are intermediaries between the borrower and the lender. They will receive a certain amount of money and they will forever earn money with this method .. Bitcoin may be a danger to the bank.

All the rich people they usually never leave their money in the bank. All of them will bring the money to Bitcoin and stock. others will invest in real estate and business

The bank is only suitable for the poor. They can borrow money to invest easily. Some wealthy people will choose the bank to deposit money and receive monthly income for living expenses. I think the bank is also very good

This is, generally, why people look down on crypto investors and why they are so easily swindled out of their money. If you think that you should be able to buy something and have it reliably go up in value by "10-30%" in a period of 6 months, then you are detached from reality. The world doesn't work that way, otherwise nobody would be poor if everyone could just double their money every couple years by investing. Investing is inherently risky. Investing in crypto is manifestly more risky than traditional equity investing. Only fools don't realize that, and it's very easy to separate a fool from their money, which is why you see so many of them get scammed in the crypto space.

Since the times I started to deal with the cryptocurrency, I forgot about the banks and the credits. Crypto gives me enough not to do it. I love trading business.

We are one of those people who are able to find the way to earn bitcoin no matter what so I'm sure we'd be all successful.

Well its impossible to think of your savings as an investment. It would take forever for your capital to at least even have a decent profit. Banks are safe for your savings but it's stagnant. That's why many people prefer to make investments and do businesses instead

This rate is quite low. Which country bank is giving this rate? To comment for my own country, an average of 6% per annum is given for the TL which is our main currency. However, if the losses experienced by the TL are to be considered, this rate is going to expire every year and the money that has been earned has become less valuable. For foreign currency-denominated investments, the ratio is as low as 1%. It is generally more beneficial and more profitable for us to keep all of our money in exchange, as Param is worthwhile against TL during the time it stops.

Those who decide to adopt first would be glad they have done it, unlike those who reacte later and would have to purchase at the higher price point.

1.3% per annum compared to the rate of depreciation of fiat? I think I'll just invest my money. Why would i just let my money sleep inside a bank vault makibg the bank even richer and me having chump change for it if i can let my money work for me by investing. This is the reasons i don't trust banks.

Yeah, in some countries the level of inflation is much bigger than that, and I believe that money needs to be working all time, not just laying somewhere even in bank

banks only save our money without providing benefits other than a sense of security. but for the money in large quantities should be used investment, for example property that has little risk. or cryptocurrency which has big risk but big advantage too

Banks will never stop cheating people. After using someone's hard earned money to do their businesses and make a lot of profits all they could give the person is 1.3%.This is really serious. Thieves in suits working in air-conditioned offices. This is why most people must realize the untapped resources in blockchain and redirection their resources here for fair wages and profits.

I think some banks are fooling us.. 1.3% MONTHLY is not bad, but ANNUALLY? Are they serious?!
Bitcoin is far better than banks. If you invest in bitcoin,  you can earn 100% by a month. If they don't change their annual interest , banks might be gone after 50 years because of bitcoin.

Banks dont even have that kind of security you are talking about. If they got bankrupt you will find your money in that bank deducted. Their annual interest rate does not even compensate inflation rate that is why rich people doesn't have or few percentage of their assets in banks.

If we put money in the bank they do not make us rich, they only give us a fixed monthly income, I recognize that the bank is stable, not lose capital, but the income from them. not tall. If you take the risk and invest in the Crypto market you will earn high income and get rich quicker.

If you put your money in the bank. You must know that it will not make you rich. But it will make your money more secure than to hold it on your possession or invest it to one thing that is not sure.

Yes as well in my country they were offering the same,  I guess it happens cause to the growth of people who saves money and they were now lacking for a way to make it bigger, and I think this is one of the reason why some people nowadays used to work here in Bitcoin rather than to be involve in investment banking in which the annual interest is undoubtedly low for the entire year that you will wait.

I think banks are not built to make their depositors rich. If you want to grow your money. Invest it in stocks or in realty business. And don't put it on banks.

^^ Banks are not returning interest by charity.  The deposit is a liability and they return some part of their profits because these people help fund their balance sheet.

Because we have central banking this effect is diluted to the point it has become lost.   Central banks lend to the banks instead and at a cheap price with newly printed money, the customer who deposits is devalued now.

Not just 1.3% but also consider inflation.  The future money you receive as interest payment is now worth less then the start of the year because of inflation.
If we include this effect the return is quite often negative, the money lost value.     I agree this makes Bitcoin more popular, its a massive effect overall.  Weak currency or loose money

If I don't withdraw for a whole year I can get 1.50% interest rate, but as you said IT IS A JOKE! The buying power of money in my country is decreasing exponentially..And then the bank takes from you all kind of commissions so at the end you might even end up with less money depending on the deposit amount. Invest in stocks,gold,cryptocurrencies and real estates. Don't give money to the banks! They are making a lot more then that 1.30%/year on your money.  ;)

There are still those places where people haven't gotten familiar with bitcoin, the internet or even computers in general, but I believe if the bitcoin has the opportunity to spread all over the world then it can make a significant change happen.

Banks do not earn for you, they only provides security to your money and use your money for their own purposes. They will never make you rich and it is not shocking because it is their business. If you have guts to make more money with your savings then no need to keep money in bank accounts. There are thousands of businesses in the world. Try one.

yeah sounds weird for us, but that was bank actualy work, getting money from a money they looking after a cent but for a thousand of people and thats how they getting their profit

Did you think why banks give such a low percent rate? Because there is no fear of losing and you will have to do nothing just go every month to your bank and cash out your share. Bitcoin can give you thousands of dollars in one day but it is also very risky and you can lose your money due to fall in the price. This is the difference between banks and bitcoin.

Putting money in a savings account at such a percentage is not beneficial by one hundred percent. While this money will be at you under such a percentage, inflation will destroy all your profits.

Anyone who puts money in a bank at such a small percentage risk losing their money more than in the crypto currency. Just in the bank, you will not see how your money is being destroyed by inflation and this makes you calm.

No matter how the banks create different options for people to place money on them, investors will still prefer to use their capital on cryptocurrency because it was more profitable.

When you have a savings in the bank you can only get i think 1.3% interest you can only get a small amount the whole year whereas if you invest it in real state or in cryptocurrency you can have a big profit.

Banks are monopolists in their sphere of business, so I consider their services as their own interest. They can say that you will obey their options and you will, because you have no alternative to that,

Banks will not give you much money. But it keeps your money safe. This is absolutely correct, so the bank encourages you to send money to them. In order for them to get profit and retain fees they receive profits from the sender's transactions and receive money. Witness the user and receive service charges.

In my country, the banks have paid 3.5% annual interest in the savings accounts in the last year. However, in the year 2015, it yielded -2.28% (considering inflation)

If you believe in thay story,then you are stupid because even in the fourth world or fifth world countries dont offer that damn low as far as i know theres a 3% per annum that i come to learn

And the same reason i guess thats why people are converting in cryptocurrency investing atleast even if this is the riskiest area of profiteering the chance of earning is higher and convincing

I think it is more or less the same here, not very enticing. Obviously, crypto investment can produce much higher rates, but you also have to count in the risk in those investments

well in my country indonesia you might got quiet good interst, its 4-6,5% for certain ammount of time. Its good and decent interest i think.

i think interest offered by banks is less attractive, so it's a loss if we save money in bank. it is better indeed for investment, because interest is less than inflation that occurs

I guess you're lucky of you can have a 1.3% per annum interest rate in your savings account on your bank. These days i see less than one percent per annum. That is why i just use banks as a sort of wallet to be withdrawn and be used for something more substantial like trading. Essentially, putting my money in a bank and letting it sleep isn't worling for me.

It is different from country to country and banks deposit interest is very low but it is zero risky way so due to that  the income is very low but if we look overall investments like in risky projects outcome is high but you will bear some risk and for me crypto investment is more than any other form of investment for those who does not like risk banks is good for them.

I don't trust banks... I never did. I never liked to give my money only to be told when and where to use it. Plus putting your money in a bank means your money will just sleep and not earn any substantial amount. So what i did is i invested on something worth while. Businesses, crypto currency and others. That is how money works for you

Yeah of course, he is lucky and I think he is American, because as I know no other place in the world is giving such good profit on saving account. I think that people in this country will think a lot while withdrawing money from banks. In my country, the system is different. Here banks will never let you make money from your savings. They will use your money for their benefits and not for you.

I think that number is a madness. It's really tiny. In my country, the savings interest rate is about 7% a year and I still think it is not worth the money and time that I will spend. So, I always choose to invest because it will help you earn more money in a short period of time although there is something to risk.

I still believe the bank but at least I will not send too much money into the bank because you have said, our money will sleep when in the bank, although we do not have to lose, but people always want more money, no one accept their money so weak. Banks have too many activities and plans to deploy, they can not bring into full play the advantages and efficiency of our money, their competence is dispersed while we focus solely on development, money will be more effective when in our hands

Saving money in banks return small value as interest rate hence business wise its better to invest such a money in other profitable things especially cryptos whose values can be 100x 1000x etc obviously in a few years time people will prefers hodling there fund in digital whose values will appreciate considerable due to massive patronage and adoption.

if compare interest from saving in bank and investing in crypto or stock market definetly different. bank only give small interest caused they guarantee all of our money, meanwhile in crypto no one could do this.

I think here in my country banks offers the same interest rate if I am not mistaken but as a crypto enthusiast I don't think I am interested with that interest rate for now. One thing is that I don't even have a savings account yet but I am still planning to get one soon if ever I have got some funds from crypto related job. As a bounty hunter gains are unstable so that is why I am focused on crypto rather than having accounts on banks.

you are right, it is like having a low interest for such a long period, as they say, slowly but surely, but due to its term, there are no assurance that the amount of interest will be the same when it reached its maturity, that is why it is more acceptable to invest in bitcoin, there waiting period is not that long because of the volatility, that is why lot of investors are eyeing on crypto instead of investing in banks, though risky, the returns of investment is shorter than of banks

WOuld you mind telling us from what region was that?Or specific country?Damn thats a fucking low man

1.3 per annum is a suicidal investment and even i am from asian I cant imagine that someone is having that difficulties in their own money that entrusted from banks

Maybe  if thats the case,this will favor cryptocurrency community as people from that region will surely transfer their money to crypto and may have good enough income per annum,what you think guys?

saving in a bank is not the right way to make a profit. i think it's better to use it as needed. with such low interest, it is more suitable for investment such as properti or cryptocurrency, if we will put a large amount of funds

1.3% is very good price. In my country, banks only give .8% income on saving accounts. That is the main reason that people are withdrawing their money from banks and putting in cryptocurrency. The main thing is that cryptocurrency is more profitable than banks, although it is also very risky and banks are safe and are responsible but still people want to invest in cryptocurrency.

If banks are even offering that huge interest rate, would we really have been complaining and apparently that would have even helped increase the amount of people that tend to save over the years.

From my own side, I even get deducted for some bullshit services I did not even ask for rather than being given any interest on my savings and which is one of the reasons I have seen banks as shit holes where you save money, no benefit, nothing is guaranteed as you can even lose your money and then you are being controlled on how you want to spent your own goddamn earned money.

Hence, thankful for this decentralized space and God bless Satoshi, whoever he is or they are.

Banks are in demand because it is not only a safe place to save but there are profitable bcoz of interest that what they say? whereas fiat money that you save in the bank is very susceptible to inflation, you can lose even if you get the interest, if told to choose of course I would rather keep the long term in gold..

It's funny tho that your money will be depreciate with 2% per year and that's more bigger than the interest you may get in banks. ???
Are we been deceive? Hell yeah.

However, I still don't consider gold as an investment since it's a hot item for thieves so somehow you're risking not just your money but your life. ( even considering a vault )

I really would want to know the region myself looking at the fact that from where I hail from, banks even take from you rather than giving you anything. If they are not deducting some bullshit charges for SMS, they are deducting on some maintenance whatsoever, and they keep making shit tons of money on my savings, with no benefit.

Well, they have gotten served what they deserve with the decentralized space now, and let us see how they want to keep up with the competition upcoming in the long run. This is actually the main reason why the real believers will always want cryptocurrency to thrive knowing how things have been with banks over the years.

In my country here,  the bank that offer highest interest rate to my knowledge offer 1.6%. This rate to me is ridiculous and that's why I stop keeping large money in the bank. Although,  consider the fact it is risk free, it is not really bad to some people if they don't have anything to do with their money.

In our country banks offered 2% interest rate on the savings account which is very low like if you deposit one lakh cash then you will receive 2000 n quarter basis so we can say that investors will receive only .167% on monthly basis and bitcoin is the best option. Bitcoin value is more big in the future but it takes some time for it.

This is wicked on the part of the bank and the government regulating them. Now you should start wondering why you should deposit your money in the bank when the interest will make no sense at the end. Meanwhile, you will marvel at the interest rate this banks place on loan.

My saving in the banks always reduced because administration fee. I am prefer not saving much money in the bank and i am prefer convert it to several asset. Its much more profitable than keep it on banks account

A friend is a very small percentage.It is better to leave money in bitcoin or some other altcoin.In my country, for a Deposit for 1 year, you can receive from 9 to 13% depending on the amount of the Deposit.I would like to know at what percentage this Bank issues loans?It would be interesting to calculate how much the Bank will earn without doing anything))