Not your keys not your funds Banks

[Slow death]

Governments have created ways to ensure that company employees receive their salaries in banks, so all people are required to have bank accounts. Central banks regulate commercial banks, they constantly monitor commercial banks and carry out inspections periodically, so if a bank goes bankrupt, the insurance covers the money of the injured people, and the bank owners are punished. This way, people's money is safe in banks, at least I'm talking about banks in my country. I don't know how things work in first world countries or other countries

but I know that in my country, banks are trustworthy, if a person keeps $10,000 in my country's bank, then that money is safe, if that person loses their life, the money goes to their wife, children or parents. If the bank goes bankrupt, something very difficult to happen, but if it goes bankrupt, the bank's insurance company and the central bank in my country will give $10,000 to that person and all the people who had saved money in the bank. I honestly don't see any reason to criticize banks, because it's better to keep money in the bank than to keep it at home and increase the risk of a person's life.

[God bless u]

To be honest Banks have liabilities to other bigger banks and instutions If you own funds in bank it's not yours
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.

It's not like that , yes you're right to some extent that banking system is not something that can be idealized to keep your gold and money. They basically invest your money and take huge amount of profits from which you're given a small amount in form if interest.

That's why when you go to a bank and ask them to withdraw all your amount they don't allow you to do so because they've invested almost all of their amount in bank except some.

[Volimack]

Banks are more convenient for all individuals trying to keep their wealth under control and many prefer to use cash. But I prefer crypto to bank to keep my wealth. Investing bitcoins in crypto will increase in value over time and double your profits. Banks have very low profit margins and take a lot of time to withdraw money. Also the continuous inflationary pressure of banks and lack of confidence among depositors are also responsible for this.

[Kakmakr]

I have experienced first hand how Banks have gone bankrupt and where only a small portion of the funds deposited in that Bank, have been paid back to the clients.

We have also seen how reckless Banks have operated in the last economic crisis and how governments had to step up to bail them out with tax payers money to rescue them.

Banks cannot be trusted with your wealth... be your own Bank and buy bitcoins. (You should always hold those coins in a wallet, where you have sole control over the Private key)

[rojan]

These days keeping money in the bank has become really dangerous. Because the banks are going bankrupt. Also, the bank does not tell the customer clearly what is going to happen.  It is better to have money in cash. And if you want to invest, investing in land and cryptocurrency will be the right decision.  That is the best decision to invest in BTC.  I am not saying that the bank is bad. But these days the bank issue is harassing people. Bank fraud is observed almost all over the country.

Because I have to worry a lot about keeping money in the bank, I have invested in Bitcoin instead of keeping money in the bank. I think investing in Bitcoin is much safer than keeping money in the bank.  But those who are stupid will keep money in the bank now the situation in the bank is very bad because of which almost people are afraid to keep money in the bank.

[Z390]

I know a man who invested all his money on two different houses for renting and guess what happened? The land originally belonged to the government, but it was sold to him illegally and the seller disappeared, the government took everything from him, I bring this up just to prove to you that having your money in one thing is the most risky play.

Diversity doesn't end with crypto only, have money in assets and also in banks and even other businesses, when one crumbles the others will pull you up again, risks are inevitable in the human world, anything can happen to us or even our investments, and assets at any time, but the more we diversify the lower the risk.

Have business running, invest in assets, keep some money saved in the bank, just in case of emergency, avoid keeping gold and money at home, because of invaders and pests, we all hate the banks but at this point in time we can't do anything without the banks either.

[fullhdpixel]

Thruthfully speaking we know that banks do offer an array of advantages that you are never to get with crypto.

Yes these banks are not as secure as they say but if you need a few things, it wouldn’t be that bad to have some of your money in the bank. We are talking about insurances and loans here. In case of emergencies banks can come in handy.

Though I think that it would be best if you didn’t just put all of your money into the bank and if you really want to feel the most responsible with your own money then put some in crypto.

Like what? But, cryptos are still like a bank. They are only much better though. Most banks are old and are guarded very well but it's funny that inside jobs can still occur. There is also the number one thief of our money and that is called as the 'Inflation'.

I think insurances and loans can still be obtained through them even if you don't store money on them although maybe it's an advantage if you do but if you don't want to, there are still other organizations or companies that offers the same thing. It's also possible here in crypto. If we really want to try and use a bank, then yeah that we only need to store small amounts on them and we need to prioritize crypto more (BTC to be specific).

[moneystery]

i agree that when you have bitcoin it's like you really have full control of your assets, but that doesn't mean that one should refuse the banking system to store their assets. banking provides various financial services which are helpful to customers, many crypto users are even helped by banking where they can make deposits and buy bitcoin.

especially if you are worried that banks could steal your money, then you can see which institution they insure their money with. if it is a credible banking company, all customer funds should be protected, so that when the bank goes bankrupt, customers can get their money back.

[Zanab247]

Banks are more convenient for all individuals trying to keep their wealth under control and many prefer to use cash. But I prefer crypto to bank to keep my wealth. Investing bitcoins in crypto will increase in value over time and double your profits. Banks have very low profit margins and take a lot of time to withdraw money. Also the continuous inflationary pressure of banks and lack of confidence among depositors are also responsible for this.

When you use bank to hodl your money, you have nothing to worry about the money because if anything happen to the bank you save your money, they will be hodl responsible for your money and they will pay you back your money.

But if you prefer hodling your BTC or crypto in your wallet, you will be more happy than someone that saved his money in the bank because if the price of BTC is pumping in the market, it will make your BTC accumulating.

Since many people know that bank are the full control of someone money in the bank,  they don't save big money in the bank because they will not gain anything which is the reason they will use big money to buy BTC and save small money in the bank in case any emergency.