Is it possible to live without banks?

[slapper]

its hard to live in the world without a banking system. I believe that there are no government will let their people use cryptocurrency as the main currency system.
Banks are doing a great job after all. As you can see, they have already maintained the world economic system for more than 200 years. And there are many useful function while using the banks. And moreover, many people believe in banks more than cryptos

[tbterryboy]

It's quite possible to live without bank account, you can do it if you want, but I don't think that is something I would like to do.
There are people out there who are doing it, yes I have seen people who don't have a bank account and they are still living their lives and it's working for them.

As for me, I'm trying to say that it might not work for me because there are things that I would be needing my bank account for and without my bank account I won't be able to do all that. If you're looking for a job, lots of companies will not offer you a job if you don't have a bank account. Although cryptocurrency is starting to change things, when a lot of people start accepting cryptocurrency it will be much possible to live without bank.

[Assface16678]

It's quite possible to live without bank account, you can do it if you want, but I don't think that is something I would like to do.
There are people out there who are doing it, yes I have seen people who don't have a bank account and they are still living their lives and it's working for them.

As for me, I'm trying to say that it might not work for me because there are things that I would be needing my bank account for and without my bank account I won't be able to do all that. If you're looking for a job, lots of companies will not offer you a job if you don't have a bank account. Although cryptocurrency is starting to change things, when a lot of people start accepting cryptocurrency it will be much possible to live without bank.

From the previous years, we are not living into the world which has a bank already instead we are getting stored our investment and money in just a single place so we won't misplace all the important things we have, some of the people before are storing their money inside their cabinets, boxes and under their bed because they think it is early safe and secured. Also, some of the people storing their money inside a bamboo stick and this is the support on their houses but the cons of this kind of toring system are not safe because there is a chance that what if there is a flame happens on their place and they cannot make it safe immediately because it is stored in one place better you choose for your life or your investment. Still, we have a different perspective on it where do we store our funds.

its hard to live in the world without a banking system. I believe that there are no government will let their people use cryptocurrency as the main currency system.
Banks are doing a great job after all. As you can see, they have already maintained the world economic system for more than 200 years. And there are many useful function while using the banks. And moreover, many people believe in banks more than cryptos

Banks are the most trusted ones in terms of storing our funds also there is a chance that all of your funds will safe and stored without hesitation because money heist is not too much promoted today. Also, we are waiting on the cryptocurrency bank so we can save all of our funds there without hesitation and we can now withdraw with the use of the cryptocurrency atm.

[Ucy]

It's quite possible to live without bank account, you can do it if you want, but I don't think that is something I would like to do.
There are people out there who are doing it, yes I have seen people who don't have a bank account and they are still living their lives and it's working for them.

As for me, I'm trying to say that it might not work for me because there are things that I would be needing my bank account for and without my bank account I won't be able to do all that. If you're looking for a job, lots of companies will not offer you a job if you don't have a bank account. Although cryptocurrency is starting to change things, when a lot of people start accepting cryptocurrency it will be much possible to live without bank.

There are alot where I live. They probably own bank accounts but hardly use them. They deal mostly with physical cash and the banks probably don't suit their way of doing business, or they are too disconnected from modern infotech/tech world.
They are mostly not tracked like the rest of the people who are too dependent on the banking system.  Sometimes I feel it's a bad idea to expose these people to such tracking. Things like crypto (safe/good crypto) will be safer for them. That is the kind of thing I will be more willing to promote to them, so we don't have everyone in the society getting tracked & known in unsafe ways.

[finaleshot2016]

As long as fiat exist, banks will not be gone as the purpose of it is to store money. Even banks does not exist in the early year but the fact that there are places that stores money, it is still in the same concept.

But if banks are gone, it is possible to live without banks, There are still many people who don't have bank accounts but they are able to save a lot of money.

[Twinkledoe]

As long as fiat exist, banks will not be gone as the purpose of it is to store money. Even banks does not exist in the early year but the fact that there are places that stores money, it is still in the same concept.

But if banks are gone, it is possible to live without banks, There are still many people who don't have bank accounts but they are able to save a lot of money.

You can find a lot of people who are living without any bank account mostly in third world countries or who are living in remote or rural areas. So yes, it is very possible to live without banks because there are people up until now that who don't own any bank account.

[enhu]

As long as fiat exist, banks will not be gone as the purpose of it is to store money. Even banks does not exist in the early year but the fact that there are places that stores money, it is still in the same concept.

But if banks are gone, it is possible to live without banks, There are still many people who don't have bank accounts but they are able to save a lot of money.

You can find a lot of people who are living without any bank account mostly in third world countries or who are living in remote or rural areas. So yes, it is very possible to live without banks because there are people up until now that who don't own any bank account.

But that would mean they are also not using money to buy things, probably just eating crops on the farm and catching fishes. What OP means is living without banks but probably just using cryptocurrency.

It's possible in the urban areas in the Philippines without banks if you only have BTC. You need to have a lot of BTC and just using the remittance companies to cash out BTC and then you can buy just anything.

[The cure]

Without a bank seem difficult.It is important to have a bank account for our daily lives.Bank account are a huge are a huge part of a persons life.We use banks for paying direct debits,to receive our salary, or paying utility bills directly. If were going to live without banks, we must find safe place to store our money but in this generation it will be hard for us to find some places that no one will know. Personal finances typically are easier with bank a account,but still it is our choice if you don't have one. It maybe possible to live without banks,why other people who are living in rural areas or far provinces that don't own a bank account, why they still survive?
But as my own experience banks are very important for me, it helps me a lot to make my life easier.

[Abiky]

We can still live without a bank. But things are very difficult. Especially in money transactions. Sending money, transferring money, paying money are not done, causing us many troubles. Suppose you have a lot of money, no bank where you will store it, if you are not smart, you will be stolen. Or the payment of electricity bills, water bills, housing ... you have to take time to the store waiting. So I think banking is essential in modern life. What do you think?

Agree. It'll be quite a challenging task to live without banks. One can live without crypto, but not without a bank account. Fiat has been used long before crypto even existed. This has made people trust it more than anything else. Major employers, merchants and businesses use Fiat one way or another. While it'll still be possible to conduct transactions using physical cash without a bank account, there are situations where you'd need to pay digitally with a credit/debit card. The ease-of-use and convenience of Fiat explains why many people have adopted it in the mainstream world.

Of course, anyone can value items, salaries, etc. using crypto directly as a unit of account. But the fact that the same is highly unstable and not fully regulatory-compliant, makes the whole process quite troublesome. For now, crypto will be living alongside Fiat as an alternative to the world's monetary system. I don't it'll ever serve as real replacement for a bank account because of the aforementioned reasons. You're better off living with a bank account, or both (crypto + banks). If you take the latter option, you'll be able to live a steady financial life for the foreseeable future. It's best to make use of each currencies' respective advantages/disadvantages for your own benefit. If someday people can live with crypto without ever having to interact with a bank, it'll be a dream come true. Just my opinion

[DoubleEdgeEX]

Reframe the question to: Is it possible to live without CENTRAL banks? That´s a different thing. As for the current economy we have almost everywhere in the world, banks are crucial system relevant institutes.

[tvplus006]

Like other said bank is important to all , because bank is also a partner of all kind of business and also online business.  But its up to us if we like use it or not.

After the introduction of the Binance debit card, which will be issued in conjunction with Visa, many cryptocurrency owners will be able to do without a Bank. But this does not mean that the transaction will be carried out outside the Bank, you just will not notice it.

[qiwoman2]

I get paid my Salary in BTC, so am partly there already. I own no FIAT and the only Fiat I exchange to is what I need to pay bills with, unfortunately using a bank for now as when I travel abroad it's the only way I can pay my bills. Other than that I don't use the bank or save in a bank at all anymore. I would like to get to a point where I can be 100% sustainable not using the banking system at all for anything. Maybe if I move either to a country like Malta or just bank with a crypto Bank, then it could be possible. I think it's easier for those in Unbanked societies to move to DEFI faster than us in Europe or the Developed world where banking is fierce. I do have a Bitcoin debit card now and I actually pay my mortgage using Bitcoin lol, so that way am almost there.

[casperBGD]

I get paid my Salary in BTC, so am partly there already. I own no FIAT and the only Fiat I exchange to is what I need to pay bills with, unfortunately using a bank for now as when I travel abroad it's the only way I can pay my bills. Other than that I don't use the bank or save in a bank at all anymore. I would like to get to a point where I can be 100% sustainable not using the banking system at all for anything. Maybe if I move either to a country like Malta or just bank with a crypto Bank, then it could be possible. I think it's easier for those in Unbanked societies to move to DEFI faster than us in Europe or the Developed world where banking is fierce. I do have a Bitcoin debit card now and I actually pay my mortgage using Bitcoin lol, so that way am almost there.

great for you, you solved many issues that are in front of people that want to live without banks, or to live with crypto, since you can live without banks with cash only as well

how do you coupe with price instability? since services that you are paying for are mostly denominated in fiat currencies

[Fredomago]

With the world's economy collapsing, people are looking for alternative safe-haven assets to use in times of turmoil. Interest in crypto has sparked a lot ever since the stock market went on a decline. If people decide to use crypto, precious metals, and physical cash, will it be possible to live a normal life without a bank?

In my case, I'd be willing to exit the banking system in order to have true sovereignty over my money. After all, that's what crypto is all about. If you could live your normal life without the need to ever interact with a bank (having a bank account to make transactions, etc), it'll be a blast. With the world shifting towards the online realm for e-commerce, virtual meetings, and more, it seems likely that people will be using decentralized money more thoroughly. There are still people using credit/debit cards, but that may change soon as Fiat becomes hyper-inflated.

What are your thoughts?

Not in our generation mate,This is possible and will surely come but not today or not in the next 10 years.

Bitcoin has been here for more than 10 years same as Paypal and other online payment method yet?Banks is still in need.

Reframe the question to: Is it possible to live without CENTRAL banks? That´s a different thing. As for the current economy we have almost everywhere in the world, banks are crucial system relevant institutes.

Central bank is still Banks mate,because that is the financial shoulder of the world,so what is the different talking about normal banks and central bank?

[ray_saeed]

It could be possible but what you will get in this case? Too many disadvantages of this. You can trasnfer all your money in crypto and then order a crypto bank card. Better than traditional banking, at least

[kolbalish]

With the world's economy collapsing, people are looking for alternative safe-haven assets to use in times of turmoil. Interest in crypto has sparked a lot ever since the stock market went on a decline. If people decide to use crypto, precious metals, and physical cash, will it be possible to live a normal life without a bank?

In my case, I'd be willing to exit the banking system in order to have true sovereignty over my money. After all, that's what crypto is all about. If you could live your normal life without the need to ever interact with a bank (having a bank account to make transactions, etc), it'll be a blast. With the world shifting towards the online realm for e-commerce, virtual meetings, and more, it seems likely that people will be using decentralized money more thoroughly. There are still people using credit/debit cards, but that may change soon as Fiat becomes hyper-inflated.

What are your thoughts?

We live in an age of modern Science. Everything can be changed according to our demand. If the people are getting used to for using non-cash balance for every sector then it will be effective. Otherwise sudden decision can be harmful for much people.

By the way, you are thinking a cashless society where you aren't willingly used money in cash. But we need to convert the daily needs to online or digitalized first like we have to pay the bills for water,gas, taxes, insurances, landlord and many things. We also receive the cheque for our payment and we have to change all the system first then we can make it and it is a lengthy process.

[Emitdama]

Unfortunately it is not in my nation. There are some stuff that you need to use banks for and that is the biggest trouble. Normally I could just be in crypto all my life, and whenever I need money I could just cash out directly from some ATM (well btm for bitcoin I think) and that would be enough, that way I would have zero problems with the banks and would never use it, but looking at how the nation requires me to have bank accounts for many stuff including bills as well, I can't do it.

I can't even pay my gas bill with cash, and during winters that is a lot of money to pay. Banks are really something I hate and I never liked them, ever since I was 19 I always had problems with them being existing and ruining the economy however they want, but unfortunately I also need them as well.

[wiss19]

There are already people that are living without banks. But it might not be a really good idea, especially if you're a business person that runs a big business.

People that I always see that are not making use of banks are just local people that have some small business they are doing, like buying and selling. But as someone that owns a big business, you won't be able to run your business if you don't have a bank account. The best you can do is to accept cryptocurrency in cases where it's possible and also accept with banks. You can make use of other systems as well and not just rely only on banks.

[verita1]

Living without banks could be the day that everyone accepts Bitcoin and cryptocurrencies, but for that to happen there will have to be a profound transformation in the economy. I would love the idea but the governments that intend to accept cryptocurrencies are already thinking about imposing taxes on those who carry out operations with them.
It could be positive if these taxes would improve the lives of its citizens but we already know how this has worked in the past.

[Rafael_Carrero]

It depends on what you mean by saying "living without banks". It's possible for a single person, but the banking system at whole can't be eliminating.