Banks Won't Make You Rich

[bitcoinmasterlord]

yes,if you invest your money in bank it won't make you rich, in my country (turkey) interest rates annual %14 , you can get this money in one hour from crypto.

14% is good amount mate in my country 9% is highest and if you put in governament under control banks you will get only 7% interest. Yes within a short time we can earn that money from crypto. if we put money in banks we will not get rich but we can lead our life by taking that interest it is a stable income and our investment is also safe, this facility we don't have it in crypto.

[artichandra]

Banks will not make rich if we only become customers, unless we make large amounts of deposits. If you are diligent enough to save in the long run it may also be rich.

[alisa20172020]

I agree with you, because banks will only give you low interest on your savings, which will always be lower than the inflation rate. So it can also be a good explanation of why so many people like bitcoin, investing bitcoin more cost-effective than money in banks, bitcoin is very effective against inflation.

[Indai24]

I agree with you, because banks will only give you low interest on your savings, which will always be lower than the inflation rate. So it can also be a good explanation of why so many people like bitcoin, investing bitcoin more cost-effective than money in banks, bitcoin is very effective against inflation.

Right. And instead, we made the bank rich because they only gave us low interest for our savings but when it comes to loan they gave us high interest, well in fact it is our money  whom they utilized. They're earning higher interest out of our money.

[airdrophunter]

Definitely true because bank is just an entity where you secure your money. But in the name of earning a profit from what you have deposited is not guaranteed. Investing is the only for your money to give you profit that can even make you a millionaire.

[weav]

Definitely true because bank is just an entity where you secure your money. But in the name of earning a profit from what you have deposited is not guaranteed. Investing is the only for your money to give you profit that can even make you a millionaire.

I agree , just keep an emergency fund on the bank so you can always pay your stuff and you don't have to worry. But once you have decent amounts of money investing pays of really well , just pick some secure funds stocks and maybe some more risky things like bitcoin. This way you will earn some passive income , invest what you gain again and you are starting to make money,

[FRJ]

Banks can never make us rich.They can only save our money and give us the assurity to protect them.They give us a very few amount of interest that they gain from investing our money to somewhere else.Becoming rich !!!by banks??,jokes.

[baconlike]

Surely the bank can not make us rich. The interest paid by the bank for us to send monthly can be called support interval. So that's not much money, not enough for you to spend in life speak of wealth. Can only invest in the Crypto market to get rich.

[Elips1]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

I think only the billionares and the banks got rich, but the ordinary people won't rich, because the interest is very low. Sometimes they file bankruptcy suddenly, then we won't get the full refund on our money. So it's better to invest our money with bitcoin, because it gives us a tremendous profit in a few years.

[Rubble898zaitO]

Truth is, unless you own a bank, then you won't get rich in it. Kidding aside, I personally believe that banks aren't necessarily there to make people rich. They're there so we can have a place to keep our money safe. The interest rate, security and insurance policies that they have are just incentives/perks so that we do our business with them. Also, they have other services like loans and credit cards. However, their main purpose is keeping our money safe and access to it when needed (via ATM's or mobile bank apps).

[Sunyoto]

I think banks keep some of our money does not mean we will get rich, if you want to make a good profit, for me you can do a positive business, in our opinion you can more easily earn income, so you easily get rich, and you can invest bitcoin for us very positively as you would expect. but with investments in bitcoin also have a high risk, but also the benefits are also far greater than you get.

[Hemady17]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Investing in cryptocurrencies or stock market also not guarantee you to become richer. It will depend on your expertise and skills to be able to become rich. Banks primary purpose is moneys safe keeping and granting loans on businesses. Banks can be considered not essential as investing tools due to low interest rate. 

[SixOfFive]

I agree with you fully on this. Banks are the biggest gangsters in the world. Trust me. They charge for doing almost anything related with the money, even if it means just holding on to it. They take your funds at a very low rate of interest and advance such funds to the needy ones as loans on which they charge high rate of interest. So you cannot expect to become rich by keeping your funds in banks.

[Dbigfoot102]

Banks were made not to make you rich. This is a wrong concept. Banks provide service for keeping your money safe. The interest where just a sort of an attraction to lure potential customers to do transaction with the bank. It is the depositors who are actually paying for their service. The money you have just deposited goes to their funds for lending services or any other service the banks have.

[dolagani]

Yes, that is so true. Banks won't make you rich, but banks can guarantee your money's safety, because the smaller their interest rate is, the saver your money will be. If you want to be rich, you can just invest your money into something worth, such as stocks, property, open up a bussiness, etc.

[South Park]

You're absolutely true, banks just take your money basically to increase their own incomes, nothing more.

And the worst thing is that not only you are doing them a favor, which is bad enough as it is, but they charge you for the privilege of doing them a favor, they charge you for everything or at least that is the way it works in my country, they charge you for opening account, they charge you for having an account with them, they charge you if you check how much money you have on an ATM, so it is better to not put your money in a bank.

This is a free market, lol. If you don't like banks and the commissions they charge just don't use them. This is what bankers would willingly tell you. Banks have monopolized money and they clearly took advantage of their monopolistic position. Everyone would in their place, so we can't actually blame them for behaving like that. But now we have crypto, and can shove their own words down their throats and be just as obnoxious as they are since it is a free market after all, isn't it?

I agree with you but we actually did not had a free market because all banks no matter their name or where they're located follow very similar policies so there is not really a free market there, in fact it is only with the creation of bitcoin that we have a free market, before we did not have a choice, which is why they do not like bitcoin at all and it is one of the reasons of why a significant portion of my wealth is in bitcoin so I can avoid them and their fees.

[AimHigh]

In terms of earning yes banks cannot support your needs or give a earn that you want just because of on a month you can earn a super tiny amount not like in bitcoin that if you invest you can earn big than banks but if bitcoin fall your investment was fall also but interms of savings yes banks was one of the best to save your money and banks is not for earning but for savings.

[Lomberjack]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Apparently, that was not really the main purpose or intention of banks for its customers or loyal investors because mainly banks are just storage for money that offers different services in accordance of creating money for business. If you are thinking that banks are making tour life comfortable as what you are thinking of, then it is not because at the end of the day, it was still purely business and all are just part of their services offered that somehow makes your money grow in a bit because of the interests you can grant to somehow make it obtain profit but merely the main reason why they are doing it is just to return the favor that they have used up your money in business circulation for their own sake and that was not to make you rich.

[redsap]

yeah bank are invented in a long time ago to keeping your money from a hand of bandit, but right now bank making an invovation to using as a lending and then making a people who want to getting an interest by deposit in their account but it just a little cost with it, because they don't want you getting benifit to much

[tonjeng didejeh]

you are right, the bank is just a place to keep our money safely bank not a place of investment that can give big profit like bitcoin