Who to Trust, Fiat Banks or BTC?

[pawanjain]

Just like what the Poll results is showing I don't trust the banks. I hated them right from the beginning.
They treat us nicely when we open an account with them but after that they their true colors.
They charge us for service which we don't even know if it exists and then provide a bad support.
They make us roam here and there just to access all our money. They restrict us from using our own money.
There are many other reasons why I hate them. Crypto on the other hand is like a blessing where we can be our own bank.

You may not be satisfied with the way they operate as well as the services and some of their costs but regardless of such low-rated attitudes, you still need to open a bank account in your country, it's already in a required range, without it, this would be very inconvenient to problems, for example, the form of receiving a monthly salary and the rules about buying and selling products, bank cards are always the king here. Bitcoin gets better comments but people only talk well about it but openly transferring all their money to bitcoin is something they dare not do

Unfortunately that is true. Having a bank account has become a necessity because of it being a mandatory thing linking all our online payments.
For the time being we can't fully depend on bitcoin or any other cryptocurrency since crypto is not well established and widely adopted yet.
But I believe things will change in future and once cryptocurrencies start to become widely adopted then we might not depend on bank accounts as we do today.
Some people have already started getting their salary in crypto although the amount of such people is very low.

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[sarmrakib]

I did trust bank before but not now .Its may secure who don't know about the latest world .Crypto and Blockchain are my own bank .So why i need to trust the bank then .I feel secured here to control my wallet myself .I just use Bank for my local transaction if here crypto accepted i would not use Bank i would use Crypt for Sure .So i just voted here that i did trust Bank not for now .

[molsewid]

Unfortunately that is true. Having a bank account has become a necessity because of it being a mandatory thing linking all our online payments.
For the time being we can't fully depend on bitcoin or any other cryptocurrency since crypto is not well established and widely adopted yet.
But I believe things will change in future and once cryptocurrencies start to become widely adopted then we might not depend on bank accounts as we do today.
Some people have already started getting their salary in crypto although the amount of such people is very low.

I'm dealing with fiat banks but it is only the way to transfer my money from my crypto or digital wallets to my bank accounts. I didn't mean that I don't trust fiat banks but at some point i didn't want to put a big amount of money in my bank account because there are some issues that they have lost money even they didn't use it well at the end of the day i'd still need to deal with the fiat banks until crypto became legal tender here in our country it seems that I don't have any other choice.

[MinoRaiola]

Clearly, no trust in the banks.
At least since the financial crisis, the trust between banks and customers has been broken. Financial advisors have almost the worst reputation, including call center employees, real estate agents and politicians.

Banks keep our money in custody, but all they would like to do is to charge fees and sell savings contracts to increase their liquidity.

[acener]

I trust crypto more than the centralized banks.
I hold my own key hold my own coin and have my own privacy (Of course it depends on what wallet you would use).
Crypto is much better than the bank if you'll ask me they doesn't have any hidden charges,
Have a higher chance of gains or let our holdings grow,
And I feel that my money is more secured since there are so many card scam going around.

[clint25n]

This goes back to each individual's personality whether you trust the bank or save your money in your own way because this is also not coercive against someone. Indeed, many people prefer to keep money in banks and maybe with tighter security than us saving with our own way, but if we use bitcoin then we can send it in a large enough amount and without going through a long and complicated process

[Mr.sprin]

I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.

[Prettyjing34]

I trust Bitcoin, because Bitcoin does not deceive people and does not fake it. Bitcoin transactions are now part of daily life. Bitcoin is similar to legal currency. Banks will have a third party. Bitcoin is decentralized and there is no third-party supervision. This will make me more free.

[Kong Hey Pakboy]

I trust Bitcoin, because Bitcoin does not deceive people and does not fake it. Bitcoin transactions are now part of daily life. Bitcoin is similar to legal currency. Banks will have a third party. Bitcoin is decentralized and there is no third-party supervision. This will make me more free.

Even if you trust bitcoin that doesn't mean that your privacy is intact, if you have a driver's license or you have a birth certificate, chances are your information can be accessed if not been accessed already. You are right that you can trust bitcoin but you have to be careful with the people who are using it because they are going to deceive you.

[verita1]

Yes, I only trust the bank with my money up to a point. In the past it was not easy for me to get another product at the bank. I wanted a credit card to continue studying at the university, I also needed to buy my first computer. Although I made several requests for credit cards, my records did not give the bank confidence.

Today I can see that a modest job gives you few possibilities and that banking products are exclusive.
That is why I can say that bitcoin managed to give me the financial freedom that I was looking for so much and that I do not need to be depending on a modest job as I had in the past.

[Renampun]

I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.

I still need a bank for my various needs so I also choose both...

long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.

[lepbagong]

I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.

it is clear that for investment all will agree with you that entrusting bitcoin will have greater benefits and advantages compared to just saving or depositing our money in the bank. the comparison is very much different but usually people who already understand will do that, because there are still many who do not understand.

I still need a bank for my various needs so I also choose both...

long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.

I can agree, that on the other hand we still really need a bank for things that bitcoin may not be able to do.
but when it comes to saving or investing, it's clear that the bank is still far from being able to give those who invest their funds, still the best bitcoin.
So if you think about it, actually both of them are still really needed with different sides and let each other cover the shortcomings that each other does not have.

[Maslate]

I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.

I still need a bank for my various needs so I also choose both...

long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.

Indeed, banks are still useful to us. Just like you did, I choose both of them. They have different purposes and people had options were to save their money. Because even though we are using digital currencies but the fact that not all establishments are accepting Bitcoin, there are times that we converted it to fiat money and we need banks for that particular situation.
But if we talk about saving, banks just only give you a few cents of interest which is too far behind when we just save in form of Bitcoin.

[Nightz]

I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.

I still need a bank for my various needs so I also choose both...

long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.

Indeed, banks are still useful to us. Just like you did, I choose both of them. They have different purposes and people had options were to save their money. Because even though we are using digital currencies but the fact that not all establishments are accepting Bitcoin, there are times that we converted it to fiat money and we need banks for that particular situation.
But if we talk about saving, banks just only give you a few cents of interest which is too far behind when we just save in form of Bitcoin.

For now, aren't banks still the most important on ramp into crypto we have? Whenever I buy crypto, I need my bank and also when I sell. I remember the times around 2015 when the banks made some trouble because they could identify transactions coming from crypto exchanges. That has totally changed by now and you can actually do whatever you want and how you want to trade, it doesn't quite matter. Times have changed a lot.

[swiftbits]

Bitcoin could be the future of finance, but might not be in my lifetime. We should use what is accessible by most to say that it is credible. Compared to Bitcoin; Banks are more open and mainstream. Even though Bitcoin has a great utility potential, Banks are still stapled for livelihood benefits.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.

[drwoo]

Bitcoin could be the future of finance, but might not be in my lifetime. We should use what is accessible by most to say that it is credible. Compared to Bitcoin; Banks are more open and mainstream. Even though Bitcoin has a great utility potential, Banks are still stapled for livelihood benefits.
Answer to the question, there is a huge probability of encountering a problem with banks compared to Bitcoin since we solely manage it.
Bitcoin is much more reliable as long as you know how to operate.

Banks are more open and mainstream just because banks are older. There is nothing that plays a bigger role than banks' age. I am sure banks will be quite outdated in a decade or two decades from now if they don't completely change. You can see already that pure online banks are taking over. Only elder people still need to go to a bank personally. For everyone else most processes are widely automated and what can't be automated can be done via video calls and identification calls and what not. Give Bitcoin some time and it will be mainstream.

[7788bitcoin]

When you need to send money, you are bound to go your banking account even when you want to purchase cryptocurrency, so i trust bank to an extent but i do not trust them with my data and i have no idea what they will be doing with the data they are collecting as a hack in the banking network or a rogue employ can always have your data.

The difference with the Bitcoin market is as long as we trust the developers there is nothing much to worry.

[Mr.sprin]

I believe both fiat and btc are equally important in my life but if you want to save in large quantities I am more confident in btc because btc is a very important asset for the future if I only save fiat in the bank then the amount of fiat I save does not increase and I can not make it as an asset for the future.

I still need a bank for my various needs so I also choose both...

long-term savings in the bank is just a waste of time because the money we save, the value will be the same as when depositing it. but if you save in Bitcoin then the possibility of a profit of 5x-7x from the initial savings is very large.

it's true that in our current era we still need banks for our needs but maybe in the future we will no longer need banks unless banks provide coin services. In the future we will shop using coins so fiat is no longer needed or fiat may become extinct, then the transaction will be replaced with coins or gold, what do you think if it really happened?

[MFahad]

Ofcourse i only trust Bitcoin. Even though our fiat money is save in the banks but in case of emergency situation (like war etc), government can always seize your funds. Also they have the right to investigate if they found that you have a lot of money.

[gabbie2010]

Just like what the Poll results is showing I don't trust the banks. I hated them right from the beginning.
They treat us nicely when we open an account with them but after that they their true colors.
They charge us for service which we don't even know if it exists and then provide a bad support.
They make us roam here and there just to access all our money. They restrict us from using our own money.
There are many other reasons why I hate them. Crypto on the other hand is like a blessing where we can be our own bank.

You may not be satisfied with the way they operate as well as the services and some of their costs but regardless of such low-rated attitudes, you still need to open a bank account in your country, it's already in a required range, without it, this would be very inconvenient to problems, for example, the form of receiving a monthly salary and the rules about buying and selling products, bank cards are always the king here. Bitcoin gets better comments but people only talk well about it but openly transferring all their money to bitcoin is something they dare not do

Unfortunately that is true. Having a bank account has become a necessity because of it being a mandatory thing linking all our online payments.
For the time being we can't fully depend on bitcoin or any other cryptocurrency since crypto is not well established and widely adopted yet.
But I believe things will change in future and once cryptocurrencies start to become widely adopted then we might not depend on bank accounts as we do today.
Some people have already started getting their salary in crypto although the amount of such people is very low.

Unfortunately we can't do without the bank for now transactions and exchanging cryptocurrencies to fiat via P2P must involve a bank that is the reality, physical cash transfer between a seller and buyer is not possible also they have to depend on bank too.
However I don't trust any bank with my funds and data, in my country some dismissed or retrenched banks officials are always in possession of customers data stolen from their former workplace which they use in defrauding or scamming unsuspecting customers of the banks their hard earn money.