Who to Trust, Fiat Banks or BTC?

[temple]

I still believe in the bank to save my shopping money and my daily needs, but when investing I am more inclined to bitcoin even though the price is uncertain I am more comfortable saving my savings in bitcoin. because my main reason is the interest rate in the bank is small and there are too many admin fees

currently, the use of crypto such as BTC is indeed different from the bank system.
we save our money for daily needs of course in the bank. any system that can give us benefits, I think the bank is the most suitable for now because it can be done directly for us to do transactions.
but BTC or crypto, so far we keep it for investment assets. not many are successful and do use crypto as a means of payment.

As long as commerce is done in fiat you won't be able to survive without a bank account. Depending on the country you live in I'd say banks are safe for sure. Give it a couple more years and I guess more commerce will take place in cryptocurrencies. The fees for bank accounts are currently on the rise and you have stuff like negative interest rates. All those factors will lead to cryptocurrencies being more widely adopted over time. A crypto wallet is for free and if you use stable coins you are good to go without the volatility risk.

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[ChiBitCTy]

As someone whom has worked in the financial sector for a decade and a half, I can tell you one thing that holds true, Banks are utterly corrupt.  Well, let me specify.. unless it is a "mom and pop" bank in some small town that knows your name when you walk through the front door, or a credit union, then you should not trust banks.  Banks are constantly stealing money, creating fake accounts, nickel and diming you for the littlest reasons etc.  Just take a look at what Wells Fargo recently did with customer account. 

Also, at least here in the US, there is something called FDIC insurance.  This "insurance" protects up to I believe $100,000 a bank customer has in their accounts.  The real truth is that if these big banks ever do go under, you're NEVER going to see that money again and even if you do, it will take many years before you do.  So many people have misplaced trust in the regard.  I tend to see older people being the ones who still believe in banks because they simply don't know any better. Of course its not just older people but those whom do nothing to educate themselves on the truth.

[SacriFries11]

Yes, only with my money.
I trust bank to an extent

I trust banks with my money because banks have been there for a long time. It has proven that banks are secure storage of money. You can withdraw anytime at banks. It is useful in managing your finances and controlling it. You can save your hard earned money for the future.

[Tigerheart3026]

(my personal opinion) i don’t believe banking system for many reasons:
-i know in my country banks provided our data with 3rd parties without our consent, government can take at anytime for the purposes investigation that's ok.

-i observed sometimes banks cut of extra charge without the customer's permission and they can't show valid reason(i faced the problem in several times)

[Aliceooo78]

I have had the experience of being frozen by a statutory bank and making mistakes in accounting, and sometimes I have to withdraw money from the bank. There are a lot of troublesome things to prepare. It's not that we don't believe in fiat currency banks. In fact, there is no other choice. Relatively speaking, fiat currency banks are safer than putting money under the bed.

Although Bitcoin has undergone 10 years of development, more and more people have participated, but it has not yet reached the level of free circulation in various fields. I am looking forward.

Think about this problem in reverse. Banks are centrally located. If they are lost, they can still be appealed, and there is still the possibility of recovering them. At most, the police may recover some of them after they are lost. For Bitcoin, if your wallet's private key is leaked, then I have been receiving it all the time, and the bitcoin is transferred to the wrong address, so I can’t get it back again.

[lepbagong]

(my personal opinion) i don’t believe banking system for many reasons:
-i know in my country banks provided our data with 3rd parties without our consent, government can take at anytime for the purposes investigation that's ok.

-i observed sometimes banks cut of extra charge without the customer's permission and they can't show valid reason(i faced the problem in several times)

It's a shame that your bad experience with banking makes you distrustful. In fact, banking needs are still very much needed in everything related to various transactions connected with other parties. because if we are connected with banking, we will get convenience that we may not be able to do alone and many relationships that cannot be done by our own actions.

I do not believe that banks will disclose the secrets of people's personal data without any very important purpose. who may be able to ask is the legal apparatus if it is suspected that there is a suspicious transaction. If the data can be retrieved, I believe it is because it could have been taken from when we made a credit card by filling out an application and it could be duplicated.

[conected]

(my personal opinion) i don’t believe banking system for many reasons:
-i know in my country banks provided our data with 3rd parties without our consent, government can take at anytime for the purposes investigation that's ok.

-i observed sometimes banks cut of extra charge without the customer's permission and they can't show valid reason(i faced the problem in several times)

- I think selling data or providing customer data to third parties as you say, bank employees are relatively insecure in that regard because a most recent case in my country, the direct manager of the customer information has been bribed to disclose the transaction status, the purpose of this work is to tarnish the reputation of some famous person with hypocrisy. The bank side also apologized directly and took it to court and resolved it by law, and I think this is something that can be sympathized with banks, their presence is too wide and the staff situation is too many, making it very difficult to manage each individual.

[Tigerheart3026]

(my personal opinion) i don’t believe banking system for many reasons:
-i know in my country banks provided our data with 3rd parties without our consent, government can take at anytime for the purposes investigation that's ok.

-i observed sometimes banks cut of extra charge without the customer's permission and they can't show valid reason(i faced the problem in several times)

It's a shame that your bad experience with banking makes you distrustful. In fact, banking needs are still very much needed in everything related to various transactions connected with other parties. because if we are connected with banking, we will get convenience that we may not be able to do alone and many relationships that cannot be done by our own actions.

I do not believe that banks will disclose the secrets of people's personal data without any very important purpose. who may be able to ask is the legal apparatus if it is suspected that there is a suspicious transaction. If the data can be retrieved, I believe it is because it could have been taken from when we made a credit card by filling out an application and it could be duplicated.

i didn’t share everything what happen with me others incident in which bank i using for more than 5 years. btw my first debit card accidentally damaged then i apply for a new card and i go to bank to receive this card i see they provided another customer card (although both of card name almost similar name) btw how it’s happen with their consent because they didn’t cross checked before provide. i attempt to leave this bank because i have doubts about their credibility.

[Bigmikie]

One thing you should know is that the Commercial Banks we have around are just there make profit and nothing aside of that count except for profit maximizing. Talking about the duo, I think BTC has come to a point where even least person can hit bis chest with trust tohe platform, why, because it is only that the price fluctuate at times if not properly understood will lead to a loss on investment whereas the banks are there to ensure that your fund is fully secured with them  especially when the account is receiving turns of income
So, as for me the banks are not that trust worthy because there charges are something else looking for a way to even reduce your fiat investment so as to make your investment plan fall.

[blackened515]

I trust the bank as a custodian of my money, but don't trust the bank for my data. because many cases many seem to have sold someone's data for things that are not important and that happened in my country. bank is only safe for saving money, but not safe for personal data

I don't trust bank with my personal  data. They can only keep and secure my money, I trust them with my money, although, their charges are high. But when it comes to Investments. Bitcoin is already on my mind. I invest in Bitcoin, because it has a bright future, and I am 100% in charge of my Investment, and no extra charge, unlike Banks.

[virasog]

I still believe in the bank to save my shopping money and my daily needs, but when investing I am more inclined to bitcoin even though the price is uncertain I am more comfortable saving my savings in bitcoin. because my main reason is the interest rate in the bank is small and there are too many admin fees

The only reason for me to trust the bank is that in any case of mishap in the transaction , i can call the bank and resolve my issue. Also i don't like to put more money in the bank as that money is being monitored by the tax authorities.

Bitcoin, on the other hand is my own money and no one in the world know how many bitcoin i owns. If i lost the private keys, its my own fault and i would never get my coins back. That's the only risk with bitcoin.

[Malam90]

I trust banks in my country for saving my money there but it doesn't generate much profits like holding Bitcoin although Bitcoin is volatile but holding for long term don't deprived me in the last couple of years. Trust in Bitcoin is a risky in terms of profits/losses taking but holding cash in Bank will be more preferable than Bitcoin. I think both are separate part, one (Bitcoin) is for investment and another (Bank) is for life saving cash.

[Ararbermas]

For me perhaps banks is the most safest place than crypto currency because crypto is so volatile wherein there's a possibility that you will lose your money in it without knowing like for example if you just store it through crypto wallet for long time, yes there's a possibility as well you can multiply your money but it depends, what i mean not 100 percent sure if it will gonna happen or not as the market were getting unpredictable everytime when it experience a massive declined . unlike fiat banks that so stable wherein even you just hold for long term no worries and you're 100 percent sure that you still have a money to withdraw from it.

[mrongoz22]

I trust banks in my country for saving my money there but it doesn't generate much profits like holding Bitcoin although Bitcoin is volatile but holding for long term don't deprived me in the last couple of years. Trust in Bitcoin is a risky in terms of profits/losses taking but holding cash in Bank will be more preferable than Bitcoin. I think both are separate part, one (Bitcoin) is for investment and another (Bank) is for life saving cash.

if you trust the bank in your country, that's your personal right, but if we keep our money in the bank, most likely we won't get anything, we can't make profit, but if we save in bitcoin, most likely in the future profit we will definitely get it, but there must be a risk, if you are afraid of risk you should not play in bitcoin, you just play hide and seek..

[Btcvilla]

I really believe in both of them because they both have very tight security, but for me I prefer to withdraw my money in the bank and invest it to buy bitcoin, especially now it has a relatively stable price, and we can control it every time. when it is different from the bank system, everyone will also say that both are equally good for us to save, but bitcoin is more inclined to investment

[Slow death]

In my country it became normal for banks to steal money from customers and when the person goes to complain they can never explain what is going on and they cannot solve the problem and the situation gets worse when the person borrows money from the bank, the robberies start to run frequently, sometimes the bank withdraws the amount of the monthly installment twice in the same month, which is to pay the loan, but people have no other choice and use the banks because to receive salary it is necessary to have a bank account in my country. in short, banks are impoverishing people and making bank owners richer

[Hamphser]

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

[nelson4lov]

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

Fiat is a necessary evil because of the fact that Bitcoin's adoption rate hasn't reached the level that fiat has attained. But I'm definitely sure that when bitcoin is accepted at most online and offline merchant stores then fiat relevance would drop significantly and even start to become less used. If there one thing fiat is good at, it's the adoption level and until bitcoin reaches such level, we would still have to make do with fiat and traditional banking systems even though its proven that they shouldn't be used further or trusted. Like I said, it's a necessary evil. We don't like it but there's no choice.

[zhelis74]

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

We think that fiat bank is more safe and reliable since it has centralize control but still its not 100% secure. Like for example we have a big holdings inside the bank and unluckily time comes that the bank declare bankruptcy then sadly we cant claim all the money we have on that bank. Unlike crypto that is decentaralized we have all the controls and mostly has bigger chances to gain more profit on our long term holdings.

[nhaila]

You can trust both!

You dont need to choose since both things can really be possibly for you to engage on without needing to focus because you do really need both specially fiat.

Even if we do hate up centralization but still we are heavily dependent in fiat and other centralized institutions and we cant really deny such thing.

Dont focus on one because even how hard you do believe on crypto, fiat would still remain no matter what.

We think that fiat bank is more safe and reliable since it has centralize control but still its not 100% secure. Like for example we have a big holdings inside the bank and unluckily time comes that the bank declare bankruptcy then sadly we cant claim all the money we have on that bank. Unlike crypto that is decentaralized we have all the controls and mostly has bigger chances to gain more profit on our long term holdings.

Sometimes banks declared bankruptcy with notice and some people can't take money with having a lots of Fiat In Bank but cryptocurrencies fully control on mine and anytime we can withdraw our assets with huge amounts of profits if we hold cryptocurrency for longer periods.