Bitcoin is better than your bank!

[aakashsangwan]

Well, if we will be comparing these two, obviously bitcoin has the upper hand as it is made to take down the bank. With bitcoin, we don't need banks as we are the bank of our own bitcoins. In terms of security, banks and bitcoin have a flaw; banks in their security literally and with bitcoin being used by a human that is still prone from being hacked and put their bitcoins to high possibility of being hacked.

Now, who told you that bitcoin was created to destroy and take down the banks? Look at the people around us and how they are using crypto currencies. Most of them are just using it as a store of value instead of a regular currency. Most of them are using it for making profits. They cash out their profits in fiat! How do you expect bitcoin to take down banks when people act in this way.
Banks can't be taken down easily. At least not now.

Well, it is my own opinion. Users have the full control of their bitcoins, they are the one who is securing it, as the banks have with the fiats on their hands. With bitcoin, people don't need to rely on banks to hold for their currencies though there are those people who are still holding their crypto currencies on some exchanges which they shouldn't.

It is true that Bitcoin is better but how do the people react about it?

Despite the better one, people are still and will continue to use banks as proven how inevitable they are when it comes to their money and their use in the country. From the money being circulated by the bank to the loans they are giving, there are a lot of perks of banks in a country and to its people, while banks focuses mainly on the users, people are not really interested with it as hacks and scams are all over it.

Also banks most oftenly are approving the loans that are going to default and also to those people who have history of defaulting a loan and when that happens who pays for the losses of the bank, it's us the people who have their money in the banks.
Also with those people the banks make private deals and monetize over it whereas when they go bankrupt it's us the people who have to pay them to keep them in business aa government always approve bailout to big banks.
Bitcoin is a lot better than putting your money in a bank without any guarantee of its safety.

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[BitcoinsGreat]

Bitcoin and banks, although they have some common features, however, these are completely different concepts that have different functions and roles in society. Banks are a single network of financial institutions that perform much more extensive functions in society than Bitcoin and the entire decentralized cryptocurrency. Banks generally serve the state and the country's economy and are under reliable state protection.
Bitcoin, like the whole decentralized cryptocurrency, is only an alternative means of payment and I would say an additional financial asset to the existing traditional assets and therefore it cannot and cannot replace them, let alone replace the entire banking system.

In short, banks will get closed in the future and bitcoin will be the future currency of the world. Banks exists because of the fiat currencies and we all know that these fiat currencies are centralized controlled. With the more use of bitcoins, people will remove their money from the banks and buy crypto, and that will bring end to these banks.

[Sayma83]

Of course Bitcoin is better in many ways than a bank, all our information is recorded by others through the bank, but through Bitcoin our information is only with us, if you want to make a transaction in the bank, you have to go to the bank and have an account, and if you want to use Bitcoin Only if you have an Android mobile. Transactions cannot be done through banks at any time, and transactions can be done at any time through Bitcoin, money cannot be sent to any country through banks, remittances can be done through Bitcoin, so if I talk about the benefits of banks and Bitcoin maybe Then maybe I'm tired and I can't finish it. In a word, Bitcoin has made our transaction system very easy.

[cheater detector]

I think we are here because we're know it how the bitcoin is better than any fiat or bank. If you read on bitcoin whitepaper, the goal of satoshi create bitcoin is to against the third parties or financial institution

A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution

https://bitcoin.org/bitcoin.pdf

[Lorence.xD]

Thinking that bitcoin is better than is too far fetch, though it is not inherently wrong there are some advantages that you can have when you opt out for a bank. This is some that I know but I am no expert so take this with a grain of salt.
1. Insurance - with banks being protected by finance security and commisions, you can ensure that your money is protected though there will be a lot of paperwork (more paperwork if you are a victim of fraud) so you need to know your way around bureaucracy.
2. Offers - banks have offers that can help your money grow like mutual funds or index funds, bonds, though you need to constantly deposit money to it. It may sound crazy but this offers can help you grow your money instead of earning an interest per annum of your money just sitting at your bank.

These are just some of advantages that I know of when it comes to banks, feel free to weigh your decisions, if you want to put your funds on bitcoin it okay albeit they have different advantages.

[Paycoinzzz]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

I don't know how long you have been in the crypto market but I feel that this is the way newbies think. I used to acclaim Bitcoin as digital gold and I keep telling my friends about its remarkable growth in the future regardless of the economy. but when the covid came and the two days of strong selling by the whales made me rethink my opinion. I think this is a manipulation game and the way to win is to guess the whale psychology. If you can't and go against the crowd, you will soon lose everything.

[wiss19]

It all depends on what exactly you want to be doing with bitcoin. I have a friend who is a freelancer. He doesn’t invest his money in bitcoin, but he’s always making use of Bitcoin to receive payment from his clients and then sell the bitcoins and convert the money to cash and straight to his bank account. It’s not a must that you will invest in bitcoin, you can use it in different ways, you can just be using for transactions or you can use it is as a storage/savings and investment.

Bitcoin really good when you use it for transaction and is way more better than when you’re using other payment methods like PayPal, Credit Cards, Remittances, bank wire, etc. When you’re making use of Bitcoin, you pay low fees for transaction, you have 24/7 access to your wallet, and you don’t need anybody’s permission on how to use it.

[ampere]

OP, i do not think people are ignorant about bitcoin, situations as this has to ve judged based on personal experiences.
Citing me as an example, i can ration the use of fiat and bitcoin simultaneously and conveniently, and i would judge, bitcoin is not yet on the standards of fiat, because in my country, you literally cannot do anything with bitcoin here so how is it better??

On the contrary, do what suits you best and always do your own research

[Ifra24]

Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

But not without risk, crypto if not regulated can disrupt the stability of the national financial system if there is a bubble burst. Te reason there is interaction between virtual currencies and the real economy. There is a high risk of volatility price,  because the value determined on the expectations of future supply and demand or speculative, "

[andisuk]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

We can't really push people to use it if they don't want to.

But then again, Bank vs. Bitcoin has its fair share of debate in the past and until now, people are still using banks despite them investing and holding Bitcoin and other cryptocurrencies. We can't just force people to use Bitcoin and tell them that it is way better than the Banks, why can't we just introduce these people into Bitcoin and tell them the reasons why they should use it, not tell them how good is it against Banks or the government.

absolutely right, we can not force a will on others, because there are so many different thoughts about bitcoin, and the banks themselves will never be separated from our lives because the bank is the one who regulates the finances of a country

[Pamadar]

Today, Bitcoin can't be controlled by the banking systems because they don't have an intermediary and are fully decentralized. This is the principal reason why it is better than your bank. Moreover, it doesn't have spending limits, it can be used to settle international finances and it can be accessed anytime and anywhere without the burden of paying high transaction fees.

But not without risk, crypto if not regulated can disrupt the stability of the national financial system if there is a bubble burst. Te reason there is interaction between virtual currencies and the real economy. There is a high risk of volatility price,  because the value determined on the expectations of future supply and demand or speculative, "

If not regulated the value will continue be speculative, there are reasons being much better than banks and also reason why risk are in need to consider.
Take time to work with deeper understanding in order to choose your position knowing the benefits and all the potentials should be taken place before you deal with crypto market.

[Eplus_Team]

I strongly agree that bitcoin is better than a bank. I like bitcoin because it keeps my privacy, and it's very easy to do
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old, it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin. Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now...

[ritu_bd]

I am an expatriate I came to Saudi Arabia to earn money but, I have not got any good job in this country yet due to which, I have to go to new department every day for work, some days in Medina, some days in Makkah, some days in Jeddah, now I am here Jizan, but it is impossible for me to know and know where a bank is in each department, moreover, there is the problem of having a bank account, which is the reason for the increase. It would not have been possible to pay for my family's expenses if it were not for Bitcoin, which is why I now trade Bitcoin. I live anywhere in Saudi Arabia when my family needs what I can immediately fulfill by selling Bitcoin, which was not possible if through a bank. So comparing a bank with Bitcoin is like comparing a tenant with a king.

[whyrqa]

I am an expatriate I came to Saudi Arabia to earn money but, I have not got any good job in this country yet due to which, I have to go to new department every day for work, some days in Medina, some days in Makkah, some days in Jeddah, now I am here Jizan, but it is impossible for me to know and know where a bank is in each department, moreover, there is the problem of having a bank account, which is the reason for the increase. It would not have been possible to pay for my family's expenses if it were not for Bitcoin, which is why I now trade Bitcoin. I live anywhere in Saudi Arabia when my family needs what I can immediately fulfill by selling Bitcoin, which was not possible if through a bank. So comparing a bank with Bitcoin is like comparing a tenant with a king.

most likely it is not about comparing Bitcoin and the banking system, but about what is safer and more profitable for the user to have funds in Bitcoin in their BTC wallet or to have a bank account.  in any case, if you consider personal funds in a bank account, then you practically do not own this money, since the numbers on the monitor of the ATM show the amount of the bank debt to you and nothing more.  if the bank has any problems, then it is more likely that you will lose these funds. Of course, if state programs are not created to protect the rights of money depositors.  but nevertheless, the banking system is not transparent and outdated, as you said.  Thus, it is the Bitcoin blockchain that gives complete freedom of action for the user, from the safety of their funds, to their seamless use.

[FanatMonet]

I strongly agree that bitcoin is better than a bank. I like bitcoin because it keeps my privacy, and it's very easy to do
transactions with bitcoin. The most important thing is that bitcoin can make a profit. Unlike a bank whose technology is too
old, it is not suitable to use right now. And the most terrible is the product of the bank, there is nothing as profitable as
bitcoin. Many governments are now corrupt and want to enrich themselves, in my opinion that's the main reason they
refused bitcoin until now...

You are right, but still you can’t talk about complete anonymity, it is not achievable, if you need to be found, then you will be found, there is no doubt about it.
The trump card of banks is the ability to get money back if something happens, with crypto currency, if it is stolen, it is very doubtful.

[MicroGuy]

At least at my bank I can withdraw cash and make private transactions.

With Bitcoin all of my transactions are recorded forever and broadcast to the World.

[Lasky366]

Look, Bitcoin Given us lots of freeness.We can spend it anytime whatever we want.But it's another truth is Bitcoin is not fully publiced or accessible in worldwide. Lots of institution don't expect bitcoin as payment method. So we are still depending on Bank. So for now we have no scope to call that Bitcoin is better than Bank.

[Janation]

Bitcoin is a lot better than putting your money in a bank without any guarantee of its safety.

And that is the same with Bitcoin.

You can't always guarantee the safety of it in your wallet especially if you have a little knowledge about securing it. Hacks and scams always happen and if you are unaware of it, I think it is better for you to save your money in the bank. Another thing is that we never know when it will drop and when it will pump.

It is more of a sepculative asset than a way to "save" your money.

[Santly]

Many people are just ignorant about bitcoin and I believe that writing an article (as a writer I am) is worth it for bitcoin. Therefore, I decided to write this article to help elaborate (https://link.medium.com/X934BlPLW3).
Please endeavour to READ! and share it too.
Tho some people just don't want to use bitcoin because of its volatile/unpredictable nature, there are also others who don't even know what we are talking of.

I keep telling us that little things matters a lot. Sharing this article would help get to someone out there who hasn't heard about bitcoin and needs to know about it. Also, don't forget to use your skills to promote bitcoin.

Some people misunderstand the nature of bitcoin or cryptocurrencies or are too afraid to attempt investing in it. I have been reading about a few, and I thought coin-to-coin cryptocurrency exchange would be a great start. Like PROBIT, for example, it has been doing well recently. Jumping into a new business, I'd worry most about security. I found that PROBIT got really good security. they support FIDO U2F and use hardware security keys and a software-based 2FA. To examine exchange website security, I used in Mozilla's Observatory-test, and ProBit received a B-score. This is better than most exchanges, which had shown me Fs and Ds. You could try it yourself: (https://observatory.mozilla.org/), just write (www.probit.com) or any other website you want to check.

[AjithBtc]

One of the user mentioned that his transactions were private with bank, and with bitcoin the transactions were broadcasted to the world. How this person state his transactions were private, somehow a third person is moving the funds when he go to the bank to deposit and to withdraw. Just to eliminate the third person involvement everything is transparent and the end users weren't unknown when making transactions between two addresses.