Do you still use Banks ?

[terrific]

In El Salvador, you also won’t be able to pay for everything with cryptocurrency, because not everyone accepts it. Yes, you are right, we will not be able to pay for our daily needs with the help of cryptocurrencies, for most countries at the moment it remains impossible to even pay for some major needs, like refueling a car or something like that. I think that’s why they want to introduce CBDC and show their advantage over Bitcoin.

That's why banks are still needed.
We can't remove the fact that even if let's say that there will be 80% of adoption for Bitcoin, there will still be people that prefer to stay with fiat and businesses as well.
You can't everybody with this piece of tech and new money that we're dealing with and spreading the word across the world. That's the reality.

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[alankasman]

In my understanding, there is no need to be surprised that as long as crypto payments are not legalized by a country, so long as people still use banks and I am here to this day still using banks.
People are well aware that the bank system is too complicated and often not what we want even though the money stored in the bank is ours.
If I want to make a transaction without using a bank to another country, I can do it using crypto without needing to announce to the relevant parties that I am doing it.

Aside from this, the OP probably didn’t notice that bank is still involved even on crypto debit card that he is using since this payment processor is partnered with bank just to make the crypto debit cards to withdraw crypto to fiat.

Using bank is inevitable because crypto is not a legal tender globally. Maybe we can’t use bank for storing most of our funds because we can’t flush out of the system the use of banking system when fiat is still involves to spend our crypto.

You raise a fair point that today's banking systems frequently lag behind what customers truly require.  However, I don't quite follow your statement about crypto payments lacking legalization in specific countries.  People globally already utilize cryptocurrency for transactions, even where formal legalization is still pending.  The primary benefit of decentralized digital coins is that no government or bank wields control over them.

OP has his own rationale for why people still use banks when we already have cryptocurrency.
In some countries, the use of cryptocurrency and the use of fiat currency can be done simultaneously. Bitcoin ATMs located in a number of countries show that people are free to use both simultaneously with the advantages and disadvantages found.
In some countries, two types of transaction systems cannot be carried out simultaneously because they are regulated by state regulations.

This is not about the system. When it comes to systems, then the banking system is too bad for me to mention. But this is about value.
Money stored in the bank no longer belongs to us but to the bank. Storing money in the bank is also not a good option as a store of value.

[Ultegra134]

That's why banks are still needed.
We can't remove the fact that even if let's say that there will be 80% of adoption for Bitcoin, there will still be people that prefer to stay with fiat and businesses as well.
You can't everybody with this piece of tech and new money that we're dealing with and spreading the word across the world. That's the reality.

and they'll always be needed. We live in a capitalistic world; would you expect the banking system to one day cease to exist? Probably not. There'll never be 80% Bitcoin adoption; it was not meant to replace fiat currencies but to co-exist. Expecting the banking system to slowly fade out is not realistic. Even El Salvador has stated that their Bitcoin experiment wasn't adopted as much as they were anticipating, as the majority of people simply redeemed the sign-up bonuses and never bothered again. While Bitcoin is supposedly their main currency, it's alongside the U.S. dollar, which further proves my point that these two are meant to exist together.

Bitcoin offers freedom, but usually it's unconvienient to use daily. There are better options for this, such as stablecoins or altcoins such as XMR or TRON, but even though card purchases are and will remain the number one option for the majority of the population, including most of us here,.

[Peanutswar]

I hold for the banks in case of emergency funds, and additional with it is the perks of using the banks like rewards and with the use of the CC. But in terms of investment its not ideal to use the banks for investment even though they are offering because just around a small percentage like 1% APY its far from the other platforms offering savings with at least 14% APY this can be a big deal to them, base on my experience on the banks have a locking period which takes a lot of months before you've got your profit so better still you have your asset if you need. Banks can be a storage or a tool for loan with your business and investment if you manage those properly you don't need to get worry to become rich.

[qwertyup23]

Banks will remain and stay relevant until our payment methods are changed from traditional to digital.

As long as we have fiat in circulation, then bank will exists for a long time. Not to mention, bank institutions are the only way in order to store our money in a relatively safe manner due to the fiduciary relationship created between the bank and its clients.

While this remain true, cryptocurrencies are slowly changing on how payment channel works. If more and more countries would adapt and adopt it to various payment applications, then cryptocurrencies may very well be the "future of money" as previously mentioned in this forum.

[lizarder]

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  

The need for the use of banks is still quite large among the public, especially for business people who always carry out fiat currency transfer transactions to support buying and selling activities. The banking system does have a level of weakness and perhaps almost everyone has experienced how their network is so slow when people need fast transactions to support their business. I also hold bitcoin as an investment and this has been going on for the past few years, but I still need fiat and banks for other support.

In general almost many people still use bank services and quite a few people use cryptocurrency debit cards. This talks about how someone can take advantage of something easier and maybe not everyone is able to operate the sophistication of new technology and that is why people still need the old banking system for their life support processes in the financial sector.

[Manny@11111]

You can not rule out importance of Fiat as is the means of transacting, if not, most transactions in most climes. Cryptocurrency should be tackled & seen as an investment venture for future gains. Till crypto is fully accepted across the globe Fiat will still be the order of the day.

Issues raised concerning conventional banking also affects crypto as well but by and large FIAT can not be easily eradicated like that at least not now

[AnonBitCoiner]

I think that cryptocurrency is used just for the purpose of investment and trading because in our country most of the people are not knowledgeable about crypto investment. In our country people often use country's own currency for payment method so for such purpose they use banks yet. Those who are government servant are still using banks as their salaries are available only in banks.

I don't think that with cryptocurrency popularity the system of bank can be decline because everything has its own benefits. Actually we can easily perform the activities of buying and selling with the help of bank but I also don't say that crypto transactions method is hard but I mean that we cannot make such transactions with everyone because not all humans are aware of it.

[Bushdark]

If we don't use bank, then what are we expected to us? When Bitcoin is not generally accepted in all region. Even though Bitcoin is accepted in our own region, there will still be merchants that would never allow or accept Bitcoin for a trade. We need bank for transaction especially when we want to sell our Bitcoin into fiat. Those that understand the process it takes to do p2p trade knows what it takes. For now, there is not way we can do without the banking system.

[Lanatsa]

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  

The need for the use of banks is still quite large among the public, especially for business people who always carry out fiat currency transfer transactions to support buying and selling activities. The banking system does have a level of weakness and perhaps almost everyone has experienced how their network is so slow when people need fast transactions to support their business. I also hold bitcoin as an investment and this has been going on for the past few years, but I still need fiat and banks for other support.

In general almost many people still use bank services and quite a few people use cryptocurrency debit cards. This talks about how someone can take advantage of something easier and maybe not everyone is able to operate the sophistication of new technology and that is why people still need the old banking system for their life support processes in the financial sector.

No matter what things that been added into this market on which people would really be still trusting up banks, they would really be sticking into something on which they've been get used into.
Dealing up with crypto might really open some new idea and opportunities but we cant really be able to deny that we are still that reliant or really do make use of bank services.
It isnt really that bad on making yourself deal with both things as long it do really fits out on what we do prefer and we do know on what we are doing then this is what matter the most.
There are really just those people who are really that already skeptical on making use of bank services due to that too much centralization and being that monitored.

In my side then i do make use of Banks on the sense that i do put up my fiat savings here but it is really just into those amounts which are really that good for emergency purposes
but huge chunk or % of those savings are really that been put on investment and business for me to be able to generate out more income and this is something that
we would really be much preferred if you do really have those kind of future plans ahead but if there's none then you could just simply site idle.  

[so98nn]

Frankly, I still use a bank because most of the share I earn comes from my real job salary. I can not just furiously put that money into Bitcoin. However, Bitcoin is one of my investments and not the use case. I am doing transactions all the time but they are either to move my coins from a soft wallet to a hardware wallet, or some charities, or rarely for my usage. On the other hand, Bitcoin serves only the purpose of holding and earning profits along the way. I am not making any excuses for using Bitcoin for everyday transactions but the issue of fees, long durations of confirmations, and less availability of physical vendors make it limited for me. In my country, it is not widely accepted yet plus patience can not be tested here for walkthrough services.

This is why I still have to rely on the banks no matter what. I think this will not change for another 2 decades since Bitcoin has to overcome the above issues and also it mayhappen that in the future when Bitcoin price keeps growing it will end up having more scalability issues.

[Renampun]

99% of my shopping activities to date are still dominated by debit cards issued by banks, moreover there are many bonuses that I can receive if I use a debit card at the supermarket, it's not that I don't want to use crypto currency, but in my country the rules prohibit using crypto currency as a This means of payment is very unlawful, only the rupiah is recognized here, even other countries' currencies are not allowed to be used as a means of payment in my country, banks still control my financial activities to this day, it is still difficult for me to get out of it.

[Furious 7]

In El Salvador, you also won’t be able to pay for everything with cryptocurrency, because not everyone accepts it. Yes, you are right, we will not be able to pay for our daily needs with the help of cryptocurrencies, for most countries at the moment it remains impossible to even pay for some major needs, like refueling a car or something like that. I think that’s why they want to introduce CBDC and show their advantage over Bitcoin.

That's why banks are still needed.
We can't remove the fact that even if let's say that there will be 80% of adoption for Bitcoin, there will still be people that prefer to stay with fiat and businesses as well.
You can't everybody with this piece of tech and new money that we're dealing with and spreading the word across the world. That's the reality.

Because in the end this is a choice so regardless of whether it is in bitcoin or does want to be in fiat all depends on ourselves. We cannot impose the will of what we feel to others because however for now being in bitcoin or being in fiat all have the right to do what they like.
Being in bitcoin is indeed very good if indeed we have the same thoughts to do it in bitcoin but not everyone thinks like that and we must realize that being in fiat will also be very good for those who think it is good.
I personally don't really mind everyone whether they are in fiat or in bitcoin because they know what they are doing is already considered right. I personally am still in both as my option to survive in the life that I do because I still feel that this is a creation that was created to benefit us so it depends on how we react to it. I use fiat for my needs in daily life and I use bitcoin for long-term investments that I make in the hope that my old age will be worth it and enjoy the results of investments made early on. It's quite profitable for me and I'm happy with what I'm doing at the moment.

[erep]

99% of my shopping activities to date are still dominated by debit cards issued by banks, moreover there are many bonuses that I can receive if I use a debit card at the supermarket, it's not that I don't want to use crypto currency, but in my country the rules prohibit using crypto currency as a This means of payment is very unlawful, only the rupiah is recognized here, even other countries' currencies are not allowed to be used as a means of payment in my country, banks still control my financial activities to this day, it is still difficult for me to get out of it.

Many people still choose to save all their financial needs for shopping in banks, even though several countries have legalized bitcoin, but bitcoin tends to be used for investment. Moreover, in countries that have not regulated the use of bitcoin as a means of payment, you will be subject to the law if you make a transaction using bitcoin as a means of payment. It is impossible for us to save all our finances in crypto for daily needs and investments, I think we have to distribute each finance according to our main duties, save money for life needs in the bank and save investments in bitcoin, that is my current choice.

[_BlackStar]

-snip-

The need for the use of banks is still quite large among the public, especially for business people who always carry out fiat currency transfer transactions to support buying and selling activities. The banking system does have a level of weakness and perhaps almost everyone has experienced how their network is so slow when people need fast transactions to support their business. I also hold bitcoin as an investment and this has been going on for the past few years, but I still need fiat and banks for other support.

In general almost many people still use bank services and quite a few people use cryptocurrency debit cards. This talks about how someone can take advantage of something easier and maybe not everyone is able to operate the sophistication of new technology and that is why people still need the old banking system for their life support processes in the financial sector.

This is one of the reasons why banks cannot be completely eliminated in the financial system. Business people need banks to make their financial transactions smooth, even though some of them don't fully trust banks. Do you know? Banks may be the reason why you are required to pay tax on the results of your work - but this is not about taxes, but your financial privacy.

Cryptocurrencies can be a great option to do something similar - especially when it comes to financial transactions. You don't need to queue to send money anywhere when you reach the sending limit from your ATM card. Of course there are many more advantages – but perhaps this has been discussed enough.

[TopT3ns]

Many people still choose to save all their financial needs for shopping in banks, even though several countries have legalized bitcoin, but bitcoin tends to be used for investment. Moreover, in countries that have not regulated the use of bitcoin as a means of payment, you will be subject to the law if you make a transaction using bitcoin as a means of payment. It is impossible for us to save all our finances in crypto for daily needs and investments, I think we have to distribute each finance according to our main duties, save money for life needs in the bank and save investments in bitcoin, that is my current choice.

So far, as far as I know, many people store their assets in banks because maybe when they want to use them for transactions, it is very easy because currently there are many Electronic Data Capture (EDC) facilities in several shopping places, which make it easier for each user to carry out transactions using money stored in the bank. In other places, there may still be a few who accept payments using cryptocurrency because price changes are unstable and transaction costs are quite high, so people really consider using cryptocurrency to purchase life necessities.

[Trawda]

Personally I don't use banks, since I got into crypto I use Bitcoin and cryptocurrencies for my money transfers.

But to be honest, we have not yet reached the level that makes us able to completely abandon banks from our economic life.

[boyptc]

Personally I don't use banks, since I got into crypto I use Bitcoin and cryptocurrencies for my money transfers.

But to be honest, we have not yet reached the level that makes us able to completely abandon banks from our economic life.

You are not into banking service anymore, 100%?

It is because that even the full time crypto folks, still have to use the banks for any service that they offer mostly in transfers because not all the merchants and shop use bitcoin.

Whilst we dont like some banks because their policies and centralization, we still need to use them and usually in transfers and conversion.

[lizarder]

This is one of the reasons why banks cannot be completely eliminated in the financial system. Business people need banks to make their financial transactions smooth, even though some of them don't fully trust banks. Do you know? Banks may be the reason why you are required to pay tax on the results of your work - but this is not about taxes, but your financial privacy.

Cryptocurrencies can be a great option to do something similar - especially when it comes to financial transactions. You don't need to queue to send money anywhere when you reach the sending limit from your ATM card. Of course there are many more advantages – but perhaps this has been discussed enough.

That's the problem because business people are used to using the old system where they trust the banking system more as a step to support their financial transaction processes and almost all business people still use banking services for all of that process. Tax issues may be a part that many people don't like, especially for those who frequently make transactions, but it's about opportunities and that's the only way they can support the smooth running of the business they run.

I think everyone who understands crypto will agree that there are many advantages when we use it, but generally speaking this is not yet fully implemented because people out there still need banking. We hope that in the next few years what we want will come true and maybe it is only a matter of time.

[Litzki1990]

In my understanding, there is no need to be surprised that as long as crypto payments are not legalized by a country, so long as people still use banks and I am here to this day still using banks.
People are well aware that the bank system is too complicated and often not what we want even though the money stored in the bank is ours.
If I want to make a transaction without using a bank to another country, I can do it using crypto without needing to announce to the relevant parties that I am doing it.

You raise a fair point that today's banking systems frequently lag behind what customers truly require.  However, I don't quite follow your statement about crypto payments lacking legalization in specific countries.  People globally already utilize cryptocurrency for transactions, even where formal legalization is still pending.  The primary benefit of decentralized digital coins is that no government or bank wields control over them.

I have several bank accounts but all the bank accounts are empty because I don't keep much money in the bank. When some local currency is required then some money need to be transferred to bank through p2p transaction and by bank transfer I withdraw those local currencies through ATM. Basically I use bank account for all these general transactions. I have a personal savings account in another account that I use in case of additional financial emergencies. I kept some money in the savings account so that I don't have to sell my investments at a loss in case of a big financial need. Apart from that, I have never felt the need to keep a large amount of money in a bank account considering anything else.