Do you still use Banks ?

[kentrolla]

Your topic doesn't make any sense, to be honest apart from making quick international transactions without the huge fees, KYCs and investment purpose we cannot use crypto for all the daily needs and we need to accept the reality as crypto is mainly used for P2P transfer and Investment purpose at the moment. I you even want to buy a loaf of bread you need to money to pay for it as local shop keepers or super market will not accept Crypto.

In future if crypto is widely accepted then we can saw we can rely more on crypto for all our needs accept government related works as they won't accept it.

For now we cannot survive without bank.

[xSkylarx]

A bank is still needed no matter what you say because you will use it when you transact some money. Let's say you receive money from other people as well as in our investments, like in crypto, when we plan to exchange it into our fiat we will probably receive it from our banks. The way we treat crypto right now is mostly as an investment, and only a few use it like a bank. You haven't noticed, but you've been using the bank ever since unless in your area you can spend crypto there, so you won't need the cash.

[gunhell16]

In this era, banks are still useful, because if I think that the banking institution will suddenly disappear, I can see that the economy will collapse a lot, that's for sure.

Although I know that it is impossible to lose the bank, when it comes to the business industry, banks cannot be irrelevant. So, even though I don't have a bank account now because I'm in cryptocurrency or digital currency, I still can't say that the bank is no longer important. It also helps in other aspects of the business industry.

[Z_MBFM]

Bitcoin is a great way to send money abroad quickly without any authorization. But till now, Bitcoin cannot be used all the time because everyone worldwide is not fully aware of Bitcoin. However, when everyone starts using Bitcoin like banks, it will be much easier to make payments with Bitcoin. However, banks are very effective for local use within the country and now the convenience of things like bank debit and credit cards has made it very convenient to make payments. But yes, since Bitcoin has complete control over itself, the payment of HUGE dollars can also be made instantly without any hassle.

[freedomgo]

In this era, banks are still useful, because if I think that the banking institution will suddenly disappear, I can see that the economy will collapse a lot, that's for sure.

Banking industry will stay, they are the biggest financial institution and won't be surpass by any institution.
Who are creating fiat? is it bank? so without bank there will be no more fiat, and it's impossible that bitcoin will take over or crypto since the government will not allow that to happen. They'll lose control, that's their biggest fear.

Though we like decentralization but we cannot deny the fact that we are living in a world where the government promotes centralization, hence will only make crypto as a alternative currency, won't replace the main.

Although I know that it is impossible to lose the bank, when it comes to the business industry, banks cannot be irrelevant. So, even though I don't have a bank account now because I'm in cryptocurrency or digital currency, I still can't say that the bank is no longer important. It also helps in other aspects of the business industry.

Personally I'm only using a digital bank, that's the trend now, at least it's easier to transact with digital bank with our crypto assets, and vice versa. But at the end of the day, they still belong to the banking industry as they are regulated by the central bank.

As the world is evolving, banking industry also follows the same path in the form of digital banking.

[Miles2006]

I don't understand where you're going, do you depend on your bank for loan or what cause why will you expect your bank to provide loan for you or what. I have never seen anyone making money from the bank monthly, for now I use my bank for transactions why will I even use crypto for transactions when most marketers in my locality will not accept crypto for payment and it's very rare seeing a trader that accepts crypto.
I prefer using bitcoin as a means of investment and not daily transactions, I can't do without my bank due to my area, although banks doesn't give full assurance if your money is safe or not now when most bank workers are into fraud but if anything happens to my money the bank will be hold responsible.

[uneng]

I tried totally swaping to crypto platforms and eliminating digital fiat banks from my life, but after a while I concluded the crypto platform I was using the debit card and to exchange BTC into fiat, was charging a very high (hidden) fees on each conversion transaction. I used them for a while, but after discovering that I realized the digital fiat bank was a more economical alternative, so I returned to their services, while accessing another exchange now to make the swap.

Besides that, the crypto debit card I was using still has a salty fee in case I don't use it at least once in a year. Now I have this bomb on my hands which I don't know how to get rid of.

The full migration from traditional banks to crypto banks will be only possible once the crypto ones offer the same economical advantages we have at our currently banks, plus cheaper and transparent conversion rates between fiat and cryptocurrencies.

[Alpha Marine]

I find it very hard to believe that there are people that don't use banks completely. It doesn't have to be mean going into the banking halls but you can still use their services online or your debit or credit cards. Maybe there are countries where you can use Bitcoin like we use fiat (anywhere and anytime) but I doubt that. Even in El Salvador which has recognized Bitcoin as a legal tender, you can't live only on Bitcoin because not everybody accepts Bitcoin as a means of payment.

The current high network fees of Bitcoin are also a problem because you can't use Bitcoin for daily payments.
I was about to make a transaction last week when I found out that the network fee was just over $13 for a transaction that was not up to $60. I reduced the network fee and despite using ViaBtc, I had to wait for about 7 hours before my transaction was completed. The network fee I paid was so low that without ViaBtc I would have waited for 2 days at least.
This is one of the issues that hinders Bitcoin adoption.

[Rruchi man]

We have cryptocurrency you still use Banks ?

Cryptocurrency is not to completely stop bank usage, it is only to provide an alternative for use. Banks were the only options before, now there is the option of cryptocurrency. Due to fact that cryptocurrency has not fully been adopted, it is impossible for me to use it exclusively without ever needing the services of the banks.

Do you use more crypto or banks for your daily or average transactions ?

I still use banks for transactions daily, but I trust bitcoins more to save in instead of keeping the money in the bank.

[ancafe]

We have cryptocurrency you still use Banks ?
The bank online many times not working slow Also i want to transfer fast to Canada to russia i cant do that or india to USA i cant do that i need instantly.
Also i asked money my bank dont give so If the bank don't help me to get rich then i dont need them.
Do you still use Banks ? Im using only cryptocurrency debit cards and they always work better than bank.
So Im still surprised If anyone still use Banks they are old

Do you use more crypto or banks for your daily or average transactions ?
Do you have had problems with hackers or someone steal money from your cryptocurrency or bank
Do you think banks not working reliable any more ?

I can refute your belief about teaching the whole family to use crypto currency and the fact that your country of residence does not give you any other option but to use fiat currency as access to purchase anything. Everyone has the right not to trust banks or decentralized government systems, but how far can you survive without using fiat currency in real life today and is there a way for you to get around this problem. Hacking and theft of money using any technology are separate efforts related to their systems failing but you can verify if you don't want that to happen, by preparing better double security measures.

I agree that this system is outdated and many problems have arisen, but we still need fiat currency to support our life journey because crypto cannot yet be fully implemented in wider life, especially for countries that only provide access only for investment. So describing crypto in general or bitcoin in particular regarding its uses certainly has positive and negative values, but to what extent can we use it for something that is much more useful.

[BIT-BENDER]

Well for now the use of Bank is still important I have to be honest because most vendors and sales personal from my country requires the system of Fiat for payment and that's affect my complete use of Bitcoin.
I think the use of banking system would still be relevant for a long time because there is no general adoption of Bitcoin and still Bitcoin atheists still exist

[flyingcarpet]

We have cryptocurrency you still use Banks ?
The bank online many times not working slow Also i want to transfer fast to Canada to russia i cant do that or india to USA i cant do that i need instantly.
Also i asked money my bank dont give so If the bank don't help me to get rich then i dont need them.
Do you still use Banks ? Im using only cryptocurrency debit cards and they always work better than bank.
So Im still surprised If anyone still use Banks they are old

Do you use more crypto or banks for your daily or average transactions ?
Do you have had problems with hackers or someone steal money from your cryptocurrency or bank
Do you think banks not working reliable any more ?

I teach all my family to use cryptocurrency becouse i dont trust Banks and i think If you can tell your bank mind your business you are scam i told my bank If you not give me loans or credit i dont need you and i close it

We cannot talk about any functioning without banks. The things you mentioned may happen after a long time, but it is not possible not to use banks for now. We all use debit cards when receiving salaries or buying goods. We cannot ignore these and our job would be very difficult without using them. We don't even have a chance not to use it. Most workplaces give salaries through banks. How do you plan to receive your salary?

We agree with many people who say banks are no good, but it is not currently possible for a bankless environment to exist.

[Jegileman]

Bitcoin is not yet a legal tender globally, so not using the bank on a regular will only make life uncomfortable for you. For every country that are into bitcoin, none of the 50% population of the country have adopted the use of bitcoin as legal tender and due to the low level of computer technology literacy, you will find out that many people don’t know how to use the internet. So using bitcoin for your daily activities like transactions, shopping, buying and selling becomes very hard, this will make one settle for the use of banks in such cases. I still use bank till date because if I don’t use them, I won’t be able to run some daily activities of mine that has to do with money.

[btc78]

We have cryptocurrency you still use Banks ?
The bank online many times not working slow Also i want to transfer fast to Canada to russia i cant do that or india to USA i cant do that i need instantly.
Also i asked money my bank dont give so If the bank don't help me to get rich then i dont need them.
Do you still use Banks ? Im using only cryptocurrency debit cards and they always work better than bank.

aren’t debit cards issued by banks and are connected to your bank account?

So Im still surprised If anyone still use Banks they are old

as much as i like to endorse the advantages of using cryptocurrencies, it is still unavoidable to use banks especially for every day transactions fiat money is still what we use in the world and most banks don’t even accept cryptocurrencies so how else would people go about transactions if crypto is not widely used by everyone?

[AprilioMP]

Do you use more crypto or banks for your daily or average transactions ?

I still use banks to make transactions instead of using crypto in transactions for large transactions and small transactions because other than the country's fiat currency I am not allowed to use it for payments.

Do you have had problems with hackers or someone steal money from your cryptocurrency or bank

Not yet and have no problems with this. It's unlikely to happen to me, whether it's a cryptocurrency hack or a hack of the bank I use.

Do you think banks not working reliable any more ?

For me, banks are still reliable because there are no other options.
From a broad perspective, maybe I think that the banking system is no longer relevant to be number one in transactions throughout the world because there is already another system that is easier without having anything to do with third parties and is very transparent, namely Bitcoin.

I teach all my family to use cryptocurrency becouse i dont trust Banks and i think If you can tell your bank mind your business you are scam i told my bank If you not give me loans or credit i dont need you and i close it

I might tell the extended family, but not now. I will wait for the right moment when I can explain fluently based on my knowledge of crypto and Bitcoin.
Regarding the working system of fiat currency with the working system of Bitcoin, I have tried to convey it to a small number of friends and some of them already know about it before me.

Teaching families not to trust banks is not easy to accept because of their ingrained logic that banks are an option to use as a place to store money. And their logic will revolt because they don't know how the fiat currency they trust in the banks works.

[Woodie]

We have cryptocurrency you still use Banks ?

Am pretty sure with the coming of cryptocurrencies we want to sell the idea of us being our own banks as we cut out the middleman and other bank charges we are exposed to, but honestly bank's might not want we want but they have their advantages which has allowed them to be in existence for so many years such as providing financing which you can't get with crypto...So short answer,  Banks> Crypto  

Do you still use Banks ?

Yes I do as crypto isn't widely accepted...

Im using only cryptocurrency debit cards and they always work better than bank.
So Im still surprised If anyone still use Banks they are old

If you were to send funds to a fraudulent seller or someone used your card  without your authorization trust me you will appreciate having a bank as you can chargeback which you can not do with crypto cards!

So as much as bank are considered old, they still get the job done!

Do you use more crypto or banks for your daily or average transactions ?

Both...but use crypto regularly for my mobile credit...

I teach all my family to use cryptocurrency becouse i dont trust Banks and i think If you can tell your bank mind your business you are scam i told my bank If you not give me loans or credit i dont need you and i close it

If this is your reason for hating or distrusting banks then you are being unfair to them and yourself because they are running a business and not some charity organization,  so expect them to carry out risk assessments to know who is likely to payback or not... no hard feelings buddy its just business!!

[Balmain]

Nowadays, we still have to use the banking system for payments. I make most of my payments through banking. I use Bitcoin mostly as a means of storing value. The level at which I spend and pay in Bitcoin is very low. In fact, making payments with Bitcoin has been banned in our country for a few years. It is free all over the world, of course it is free in most places, but its trade is still prohibited in some countries. If buyers and sellers start using bitcoin, I don't think there will be a widespread decrease in banking activities. As I said at the beginning, bitcoin is used mostly as a means of storing value.

[Accardo]

I don't understand where you're going, do you depend on your bank for loan or what cause why will you expect your bank to provide loan for you or what. I have never seen anyone making money from the bank monthly, for now I use my bank for transactions why will I even use crypto for transactions when most marketers in my locality will not accept crypto for payment and it's very rare seeing a trader that accepts crypto.
I prefer using bitcoin as a means of investment and not daily transactions, I can't do without my bank due to my area, although banks doesn't give full assurance if your money is safe or not now when most bank workers are into fraud but if anything happens to my money the bank will be hold responsible.

Dealing without the bank will limit our level of transacting with people. Fiat is needed to settle local businesses and clear bills. Bitcoin hasn't gotten to an era where users can easily trade peer-to-peer with vendors in local markets. Bankers may have illicit players in their midst, but the funds are safe. Although the inflation rate keeps dwindling the value of fiat, running away completely from using banks won't help some bitcoin investors. Holding money in bitcoin and spending the few fiat we earn is the right step to take. However, we have to wait until the usage of bitcoin gets too viral like the fiat before we integrate bitcoin as the only currency and neglect banks. In some countries where bitcoin is illegal, trading bitcoin could be a hassle. Cooperating with OP's idea will only cause stress for the bitcoin investors or traders in the region. Selling bitcoin successfully needs the bank to receive the money in fiat. The trader then gets to withdraw and spend.

The only alternative, though stressful, is consistently redirecting our bitcoin sales to the vendor's bank account, then the bitcoin user can move to the store and get an equivalent of his money in items sold in the vendor's store. This method will reduce the rate at which the bitcoiner touches fiat money and needs it. But, considering the numerous utilities that satisfy the needs of a human, one vendor won't be enough. Buying gasoline, paying parking lot fees, helping the less privileged, etc will only ruin the dream of dealing with bitcoin, alone. The bitcoiner won't continue stressing the trader to always help him forward funds to any vendor he meets. Considering the rate of bitcoin fees, in recent days. Contrarily to purchasing products, banks seem less important in saving money for a bitcoiner. Because he doesn't make enough profits saving money in banks compared to doing the same in his wallet. If the goal is to save or hold, then banks are not needed. As for daily transactions, banks are still important.

[Noctis Connor]

i can't say that i don't trust bitcoin more than banks, the real fact here is banks are more old than bitcoin or any other cryptocurrency thats why my money felt safe when its in the bank rather than in the bitcoin investments or altcoins , and the number one reason is most of people here in my country doesnt really know what crypto is and most of them are still using banking system not only them but also those business and i hope one day we can spend crypto just by paying.

[blockman]

I do. Why? Because of their apps that allows me to pay my stuff directly when I go outside. I don't have to hold cash and I am scared of viruses that they say that are also sticking to our paper money and that's why cashless payment which has started by the banks is working for me. And the profits made in crypto are also being traded into fiat through bank transfers. That's why even if you are the most hater of the banks, we still have the use for them and it's just a plus that you can mortgage your home from or take a loan if you need to.