Banks Won't Make You Rich

[Dudeperfect]

Well, as you are from India, you must be aware of the issues happening in the banking sector. Nowadays, our money is not safe in banks too and that's the reason why decentralized currencies are gaining attention. Banks were great when we were getting 20% or so interest for per annum but now, there is no advantage in settling for 4% interest when the inflation is growing at a rate of more than 7% annually. Thus, we are not earning 4% interest but actually losing 3% amount every year when it comes the comparison of values.

[marcuslong]

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! 

To be honest even you put tons of investment in banks you don't earn that much coz your just putting it as an your savings however if you have a personal income or whatsoever then much better to you im not using bank since then because it is just like wasting my money i have a worst nightmare there i don't have physical card and my bank was hacked and transfer my money it is inside job not unlike bitcoin if you invest you have the biggest chance to get your money double and it is safe with hard wallet you are using for.

[Sand King]

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 somehow agree with this because it is true that banks may cause bankruptcy because of their interest rates. Their rates is too high. You put your money in the bank so it'll not be spend on something but instead your money is getting smaller and smaller because of interest

[Redhead5]

Yes, bank wont make you rich but they help you to be thrifty and they keep your money safe.

It is true. We will not be rich through banking but we can really secure our money with percentage of interest. There is no doubt for this, but in bitcoin investment really we can be rich in just a minute due to its great values and unpredictable behavior.

[krankNL]

Well, as you are from India, you must be aware of the issues happening in the banking sector. Nowadays, our money is not safe in banks too and that's the reason why decentralized currencies are gaining attention. Banks were great when we were getting 20% or so interest for per annum but now, there is no advantage in settling for 4% interest when the inflation is growing at a rate of more than 7% annually. Thus, we are not earning 4% interest but actually losing 3% amount every year when it comes the comparison of values.

You can't expect interest rate to be greater than inflation rate in a country. This is how the economical system works. You shouldn't earn more than inflation amount. If you do so, your banks will likely to bankrupt at the end.

[Barcode_]

That is the reason people should actually invest their money into crypto-currencies or other traditional investments rather than saving huge amount of money in the saving accounts with banks which would only pay them small amount of money for the interest generated annually.

[5ensei]

Banks don't just keep your money safe, they are an easy way to pay your bills e.g. via direct debit and online transfers. It is wise to keep enough money there for that purpose with the remaining money invested into crypto - that is your ticket to riches!

[bitcoinFPT]

You really think any bank will make u rich ? Banks are making money on you and are making u poor....
PS: It is not a joke

Ecxactly ! That is what I mean, depositing money into a bank, the interest rate is only 4-7%, with that little interest you have no profit, your money is only temporarily secure at the bank and purpose You are helping bank get rich and to "help you poor" because the longer you send in the bank, the more you lose money, so I think you should use the remaining funds to the more necessary. Investing in bitcoin will make you more lucrative and nowadays many people are investing in bitcoin and bright future

[GrayFullbuster]

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! 

The purpose of the banks are to keep safe all of our money. You will not earn big amount of money if you think that saving money from banks will give you profit. It is better if you will put on cryptocurrencies for you to easily double or even triple your money.

[LoudA__]

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! 

The purpose of the banks are to keep safe all of our money. You will not earn big amount of money if you think that saving money from banks will give you profit. It is better if you will put on cryptocurrencies for you to easily double or even triple your money.

That is the purpose of Banks, why do we need to think that Banks will make us Rich since they are just existing for us to have a keeper of our money. I think banks are just putting some interests so that they can gather or make people put their money into their hands. And, crypto currencies is not the only way you can earn money, you can also invest on Real estate and metals that is a common asset for investors.

[Kanda Yu]

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 the bank is very different with investing on bitcoin. When you are investing in the bank, there are some chances that your money won't grow that much since the growth there is very slow while when you are investing in bitcoin, there is a chance that your money will grow unexpectedly bigger than what you are expecting so choose investing on bitcoin rather than banks.

[Chachacoin17]

That is the reason people should actually invest their money into crypto-currencies or other traditional investments rather than saving huge amount of money in the saving accounts with banks which would only pay them small amount of money for the interest generated annually.

Saving your money in a bank can have both advantages and disadvantages. Savings accounts are ideal for someone looking to save while earning. It allows you to withdraw anytime and require only low investment amount to start with. On the contrary, it's tempting due to its easy access, which lessen the chance of long-term savings. It can only generate lowest return, unlike any other types of investment. What we need to do, is to stop focusing on accumulating wealth, instead focus on creating wealth.

[JRoa]

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! 

As far as I know, the interest that you will get if you will save your money on banks is 0.50% to 0.75% and I can say that it is too low. If you will make investment here in the cryptocurrency world, I am sure that you can easily grow your investment.

[Irviyandi]

Bank is useful to save money just do not make our money doubled but if the bitcoin in addition to being able to save money we can also make money by trading and bitcoin mining and the results are also quite a lot of the second if we know how.

[Averim]

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! 

Regarding you position mentioned above relating the politics of bank all i can say is that you are right, they don't have on their agenda tasks like getting rich other people.

[ferrybitcoin.1996]

Bank is useful to save money just do not make our money doubled but if the bitcoin in addition to being able to save money we can also make money by trading and bitcoin mining and the results are also quite a lot of the second if we know how.

Umm.. it means you risk your money to Bitcoin and if you lucky get more profit.
Blockchain that store your money, and not Bitcoin. Bitcoin is your "assets" that price can be volatile.

[sarjilcse]

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 The bank is the safest place to save money, so safe the money you keep on eating every month by the interest rate applied by the bank until maybe the money you save will not be left as it continues to be undermined to pay the interest rate. Do you still want to keep fiat currency there? I personally have left the system they have been offering for a long time.

[South Park]

Yea,it is right tthat Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.It can't make you rich.But the goodness of bitcoin was  can make your money grow.

Not only the interest rates are very low when you take into account all the fees that you are paying to them it is even possible that you are losing money by having your money in a bank, the world is getting crazier and crazier it turns out that having your money under your mattress may prove to be a lot more economical than having your money in a bank.

[MCVXYZ]

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! 

Its an axiom,if it was true everyone’d keep their money in the banks.As you mentioned that bank gives tiny interest rates,also there are too many countries where you need to pay them for keeping your funds safely,for example as i remember correctly in Switerland,I don’t know exactly which bank.. So i just want to say that why do people need to be in financial relationships with intermediaries? When there is already exists bitcoin...

[zarados]

exactly that, it is not the purpose of a bank to make its customers wealthy, as more and more customers of a bank, the more prosperous the bank. The interest given to customers when they are saving their money is very low and will decrease every year. While people who apply for loans to banks, given a very high interest. While the level of loan amount must be balanced with the amount of deposits.