Being your own bank

[GEMIN_M4]

Being your own bank sound very powerful, until you realize that it's not that easy, Banks have a lot of services where people help them to manage like customers service, fraud protection, backup programs and security teams.

In crypto it's a different story.

You are the bank, which means you are going to cover all these services that the banks have to hire people to manage, The. Security team, backup system, fraud prevention and customer services. Being your own bank brings freedom indeed but it requires awareness, you will be the one doing all this job.

This have many times contributed to why people lost their crypto, they just don't understand what they are up against, it's no more in the hands of your bank doing all the jobs for you, it's on you to secure your bank "Crypto Wallet" like your life depends on it,

If you want to be your own bank you need to act truly as being your own bank, take the necessary actions and arm yourself up like you are guarding your strong room. We are going into 2026, scammers won't stop finding a way to break your bank, do all you can to avoid stories that touches in 2026.

[_act_]

Being your own bank sound very powerful, until you realize that it's not that easy, Banks have a lot of services where people help them to manage like customers service, fraud protection, backup programs and security teams.

The banks will help their customers against fraud protection? That is not true but they can give advice on how to avoid fraud. There are people that are using bank and they are getting scammed.

If you want to be your own bank you need to act truly as being your own bank, take the necessary actions and arm yourself up like you are guarding your strong room. We are going into 2026, scammers won't stop finding a way to break your bank, do all you can to avoid stories that touches in 2026.

This is true, being your own bank means learning how to avoid scammers and hackers with good privacy and security.

[ColdLava40]

Bank doesn't protect you against fraud,but they for sure share tips on how not to fall victims. It's up to you not to make the same mistake you will using bank and a crypto wallet. They both require you give out a particular key which you alone are supposed to know out to the scammer.

With bitcoin you just have to make sure you know very well how to protect your funds since you clearly are in control of your funds. Every single mistake you make would cause you a dime.

[Rikafip]

The banks will help their customers against fraud protection?

Few months ago my wife's bank card info was somehow stolen while on holiday and thief managed to spend ~1k euro (half of it was on a gambling site and the other half on gaming company, uber etc) before she realize it. It took bank like 2 months, but they managed to retrieve 100% of the amount spent. So yeah, on some ocassions, they can indeed help.  

About being your own bank, its a simple fact that it is not for everyone.

[Cryptohygenic]

Even the commercial banks that is being regulated, no one owns it all all to that is why the system is not trusted because you have to meet up the payroll of those you hired so that they don't compromise.
Even you that owns the bank is at your own risk because, those workers are ones in the field in their various departments doing all the works including securities. So at any slight chance the system can be compromised by same people you hired.
And customers will always be at the vulnerability of loosing their funds due to the deprivation of self custodial with private keys.
In the blockchain, Satoshi created the system to be decentlized and an open source for future infrastructure and left the system to be controlled by the communities itself without hiring of workers and no trustees rather, every users is at the position to control their funds and personalizes how to spend their bitcoins without being controlled by an authority.
There your security lies on your custody.

[aylabadia05]

If you want to be your own bank you need to act truly as being your own bank, take the necessary actions and arm yourself up like you are guarding your strong room. We are going into 2026, scammers won't stop finding a way to break your bank, do all you can to avoid stories that touches in 2026.

Security is the most important thing to consider. We must not allow thieves to successfully carry out their actions, which could result in the loss of our hard-earned savings. Just as we take care of ourselves, we must take the same precautions with our banks.

I have learned from the recent disasters that have struck several provinces in my country.
Fortunately, those who stored their seed phrases were spared, as their assets were not swept away by floods or buried under mudslides caused by flash floods. Forget about that.
This is the Christmas and New Year holiday season. Prioritize security when leaving for vacation to ensure your assets remain safe.

[Merit.s]

At least, when you're your own bank, you can spend your money anyhow you want it but banks can give you a daily transaction limit. Bitcoin is decentralized which is why you need to store it in a decentralized way and take full responsibility of securing your wallet.

Self custody comes with some task and when you don't care about them, it means that you will be prone to scam. Use hardware wallet that's open source to store your bitcoin because they're always offline.

[casey15]

Becoming your own bank involves a lot.
It requires that you are accountable and responsible for your funds. There is nobody to blame for anything except yourself. A lot of people do not have managerial skills especially when it comes to money and as such they then to fall into a trap of irresponsibility when they are given full control over their funds. Dealing with crypto where you tend to control almost everything requires discipline and accountability

[I_Anime]

You are making decentralization sound so complex, I still far prefer being my bank always . Even in a centralized system one can still lost his assets , so is all about being careful and stuff , same go for keeping your asset in a noncustodial wallet.

Your job is to keep your phrase and private key safe , and same time avoiding anything that may compromise your wallet in one way or the other, reason why most still lose their money while using a decentralized system is because they are not security or privacy conscious.

[CryptSafe]

Being your own bank means taking up the task of the conventional bank, as we all know. You will have scammers and hackers to contend with, and you will have to be up to date in knowledge of happenings around the crypto space. As it is that you have no insurance with respect to your crypto assets, you will have to be very careful so as not to lose your assets, because if you do, they are gone forever, because it is irreversible, except that if the culprits are caught, and even then, the possibility of getting back your asset is not guaranteed. That is what comes with the task of you being your own bank.

[Finestream]

It takes a knowledgeable mind and discipline to manage your own bank with bitcoin. There are always risks involved but if you know how to properly manage those risks, having bitcoin as your own bank is always worth the risk. You are your own bank, so you need to protect and secure its safeness all alone, by not letting your own bank fall into the hands of scammers.

It also comes with maturity and growth as a bitcoin owner. You don't just manage your own bank, you also grow and develop with it into a better and responsible person financially, emotionally and mentally.

[Patikno]

Being your own bank sound very powerful, until you realize that it's not that easy, Banks have a lot of services where people help them to manage like customers service, fraud protection, backup programs and security teams.

In crypto it's a different story.

You are the bank, which means you are going to cover all these services that the banks have to hire people to manage, The. Security team, backup system, fraud prevention and customer services. Being your own bank brings freedom indeed but it requires awareness, you will be the one doing all this job.

This have many times contributed to why people lost their crypto, they just don't understand what they are up against, it's no more in the hands of your bank doing all the jobs for you, it's on you to secure your bank "Crypto Wallet" like your life depends on it,

If you want to be your own bank you need to act truly as being your own bank, take the necessary actions and arm yourself up like you are guarding your strong room. We are going into 2026, scammers won't stop finding a way to break your bank, do all you can to avoid stories that touches in 2026.

Ironically, banks can't protect their customers from fraud. Even in my country, banks won't take full responsibility for customer negligence. So, I wonder what the difference is with self-storage (non-custodial)? In fact, I feel it should be better to have my own bank. Besides that, I think Bitcoin system is far superior to that of banks, and while bank hacks have occurred, Bitcoin has never been hacked. So, wouldn't it be better to have our own bank? I think you already know the answer.

Someone might ask, "What about the hacks that have occurred in altcoin systems?" I would answer, "That is why I only trust Bitcoin security." Someone might also ask, "Isn't there still a possibility that Bitcoin could be hacked through a 51% attack?" I would answer, "Yes, it is possible, but if that happened, I am sure banks wouldn't exist anymore at the time, because they are more vulnerable to being hacked first, which it also means IT'S VERY DIFFICULT to hack Bitcoin". Cmiiw.

[FirmWars]

If you want to be your own bank you need to act truly as being your own bank, take the necessary actions and arm yourself up like you are guarding your strong room. We are going into 2026, scammers won't stop finding a way to break your bank, do all you can to avoid stories that touches in 2026.

In terms holding crypto and securing it against scammers and hackers, someone with small amount of asset or someone with shitcoins would think it's very easy to do until they have become holders of a huge amount of asset and they will understand that the task of making sure that their asset is safe is not easy unless they are going to take the dead wallet method, it's a method in which you keep your private keys in several safe locations and then abandon the wallet for so many years, by such action, you won't connect your wallet to the internet and you won't use the device that your wallet is installed on. You just let the wallet stay dead for the period of time that you want it to. That's easy and very simple but if you have you wallet on your devices, it's not 100% safe unless, you will have to be very careful and checking that there's no vulnerable software on your device that can be taken advantage of by hackers.

[AYOBA]

If you want to be your own bank you need to act truly as being your own bank, take the necessary actions and arm yourself up like you are guarding your strong room. We are going into 2026, scammers won't stop finding a way to break your bank, do all you can to avoid stories that touches in 2026.

For a person to be his own bank I don’t think it will be possible as the bank requires a lot of securities that will keep the banking protecting from the scammers, the only thing I think it will be possible if that should be the case for a person to be his banks is by find some place within he/she house to be keeping money but the money will not be that save: and that’s anyone who don’t have a place where they can able to keep their money secure is to take to any nearby bank than regret later in the day.

[Joy- maker]

OP what are you even saying? Because am still finding it deficult to figure out the message you are trying to passing here. But what I have to say is that, the way bank's operates is not the same way cryptocurrency operates, Normally when you keep your money in the Bank the bank bear every responsibilities. But when it comes to cryptocurrency everything is different you bear all the responsibilities, which I don't see much responsibilities to bear there, because if you get yourself a secure and a trusted wallet, the only things left for you to do is store and secure your seed phrase, and to avoid falling prey to scammers. No customer service is needed, no security team is needed, because cryptocurrency don't operate the way bank's operates.

[PX-Z]

Being your own bank sound very powerful, until you realize that it's not that easy, ....

Owing your money and being responsible of managing it takes lot of knowledge to do it. That's why most don't like that idea and use exchange account (as a bank) to rely on the so called "security and safety" of the exchanges instead of owing it and be responsible of your funds.

Others tried but failed due to less device security, scammed, because of the little knowledge on how to use it

[Umulala-alala]

The banks will help their customers against fraud protection? That is not true but they can give advice on how to avoid fraud. There are people that are using bank and they are getting scammed.

That's not possible what banks can only do is to advice you just as you have said they can tell you things like don't share your OTP to any body that they won't even call you to provide to them any important details of yours like your ATM card numbers or pin.
I have been called on phone by those scammers you will be surprised how they will call all your bank details both your name correctly and you will believe that it's your back manager that's calling you and immediately you provide to them what they ask from you all the money in your bank will just disappear if not for the experience i have had and also advise from bank not to give out any information to any body claiming to be a bank agent i would have been scammed severely but there are people who don't know this and they are also been scammed.

[ruykeri]

I have a slightly different opinion on this matter of treating crypto currency and the banking system in the same way and operating in the same way. Another thing is that the word crypto is used to understand all kinds of tokens, but I want to stick with Bitcoin only. But the most important thing that you have highlighted is that all security-related issues should be given a little more priority. In this matter, I would say that if you have any Bitcoin, you should never discuss it anywhere, sometimes even your acquaintances may be harmed. And at the end of the day, you have to determine the security of your wallet yourself, so you should be as careful as possible.

[mamesso]

Being your own bank sound very powerful, until you realize that it's not that easy, Banks have a lot of services where people help them to manage like customers service, fraud protection, backup programs and security teams.

I'm not at all sure Banks can provide protection against fraud. They only have the responsibility to provide advice and education to each customer, but I am not entirely sure that banks can help in terms of protection when illegal transactions occur. In my country, many bank customers lose their money without the owner making any transactions (due to illegal transactions). This type of customer loss is common, and banks never want to take responsibility. Clearly, every service offered by banks is solely for their own benefit.

If you want to be your own bank, you have to act like a bank, such as setting a budget and managing expenses, investing money wisely and taking appropriate actions to protect your assets to achieve your financial goals in the future.

[AakZaki]

For a person to be his own bank I don’t think it will be possible as the bank requires a lot of securities that will keep the banking protecting from the scammers, the only thing I think it will be possible if that should be the case for a person to be his banks is by find some place within he/she house to be keeping money but the money will not be that save: and that’s anyone who don’t have a place where they can able to keep their money secure is to take to any nearby bank than regret later in the day.

Saving money at home is not entirely safe, as far as I know some areas in my country are located in disaster-prone regions, such as those prone to floods or eruptions.
So the minimum deposit of money is in a conventional bank because in my country the bank still has a deposit guarantee system, at least it is a protection when the disaster comes.

Meanwhile becoming a bank by utilizing the crypto system is much more complicated for some people who have never been in the crypto world. Instead of wanting to keep money in Bitcoin and then buying it without seeing the bearish situation it would also be a mistake. It is not easy to become a bank yourself there are a lot of considerations.