Being your own bank

[Donk1]

Yes being your own bank in crypto isn't easy but then that's just the little price we have to pay to avoid third party relationships with banks and their issues. Basically,for that I see no job there being your own bank , It only requires you to take full responsibility of whatsoever happens to your money. It's like having sole ownership and self independence in your own money and, if I may say  compared to banks, it's actually the best ....
Moreover it's easy to say those who lose their crypto tend to be irresponsible. Basically in the cryto space responsibility is everything, when you are responsible and aware you would be more active in whatever you do. That's all bro.....

[Miles2006]

Funny enough, banks also are not 100% save storing huge funds. You just don’t understand how to stay private and hold your coin without the help of a third party, people picture crypto differently mostly when involving scam practice, they think the bank can help store funds without stealing or making attempt besides stories like bank scam is mostly common among people who believe so much in third party security. Holding bitcoin is not totally risky when an investor knows the basic terms and security means, just stay private although with bitcoin privacy no one is aware about the coin neither any knowledge related except a person disclose an information about crypto.

[KingsDen]

Has the bank everly protected anyone from fraud. In my country, they are even fraud enablers.

Banks might not be perfect but they have their advantages. I don't trust them but they could assist in some ways.

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.  

Banks in conjunction with the law enforcement agents help, especially in organized countries where corruption is less. In my country, attention is not given to poor people and their complaints. I have seen a poor man who made a wrong transfer to another account and the person refused to refund and bank did nothing about it. ThankGod for these fintech banks, they are doing better.

Banks are very much centralized and work with the government, so they are supposed to do better. Instead, I can say that USDT has frozen more coins than banks recovered fiat.

[nakamura12]

Being your own bank or an exchange for example may sound safe but it's still not easy as you have to be serious about security to avoid losing the wallet unlike someone is behind managing your assets. It also may be safe but we don't know if the person behind managing your wallet is good and won't do anything that's why many people pretend to own their own non-custodial wallet rather than having custodial wallet.

[DubemIfedigbo001]

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.

Sure, social engineering is only getting smarter, they started out by targeting crypto wallet directly, but now the game has changed, they now target the device totally and exploit it to their satisfaction.

There should be more campaign to go offline with your crypto holdings, that is the most effective way to remain immune to social engineering because it cannot be exploited since scammers have no interaction with an air-gapped device and it reduces the threat to only a third-party insider.

[Vaculin]

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.

Banks are still useful these days, the reason why others still chose to stick with it and ignore the idea that they can be with their own bank with bitcoin. And that's okay, because having bitcoin as your own bank brings also a lot of pressures on how to manage and secure well your own wallet so it won't be taken advantage by those scammers that are just waiting for victims in the corner.

In the end, bitcoin as your own bank is just an alternative, we can still use our centralized banks with fiat while earnestly earning some bitcoins on our own wallet.

[freedomgo]

Funny enough, banks also are not 100% save storing huge funds. You just don’t understand how to stay private and hold your coin without the help of a third party, people picture crypto differently mostly when involving scam practice, they think the bank can help store funds without stealing or making attempt besides stories like bank scam is mostly common among people who believe so much in third party security. Holding bitcoin is not totally risky when an investor knows the basic terms and security means, just stay private although with bitcoin privacy no one is aware about the coin neither any knowledge related except a person disclose an information about crypto.

Privacy does not matter when you rely on banks for saving of your funds, that's why some inside jobs modus are quite inevitable because the staffs themselves are directly involved. But if you want to achieve full security and privacy on your own account, prefer bitcoin and make it as your own bank. While there are some risks managing your own wallet, but if you are well knowledgeable about bitcoin and is aware well on how to protect it 24/7, then I don't see any reason why having bitcoin is your own bank should not be a priority, rather than risking our funds and let the strangers managed our hard-earned money.

[Kelvinid]

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.

With bitcoin, you are sole responsible of the outcome of your hard-earned savings, so you need always to take extra cautious in doing all transactions and keeping them safe and not accessible by strangers or scammers. If you know well how to secure the safety of your wallet, you are good for bitcoin but if you are a careless type of person, just don't settle with bitcoin, prefer bank instead for safekeeping of your funds.

[_act_]

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.

Banks are still useful these days, the reason why others still chose to stick with it and ignore the idea that they can be with their own bank with bitcoin. And that's okay, because having bitcoin as your own bank brings also a lot of pressures on how to manage and secure well your own wallet so it won't be taken advantage by those scammers that are just waiting for victims in the corner.

In the end, bitcoin as your own bank is just an alternative, we can still use our centralized banks with fiat while earnestly earning some bitcoins on our own wallet.

Your post is funny to me because who did not know that banks are useful? Even adding 'still' does not show the extent banks are useful. They are very useful.

It is like you are reversing what we have posted. If you want to be your own bank, learn how to avoid malware, learn about privacy and security to protect your coins.

[TechGr8]

Bitcoin and Crypto exactly revealed how much We could control our Financial affairs and become our own Financial institution the way banks have been operating… But this time, unlike involving third-parties into your affairs and making your assets easily prone to interference You are completely in charge and playing all the roles at a place. It’s the most self-sufficient and mobile banking system there ever has been.

Crypto is the future of Banking; it’s the Future they never believed would substitute or outgrow them and do better by taking the power of The People’s Wealth from off their hands and given it back to the People. If banks could hush Bitcoin they’d have tried. Haha!

[Furball808]

People like the idea of being their own bank but not the responsibility that comes with it. They still use centralized accounts so they have something to fall back on which turns out to come back firing due to hacks or whatnot.

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.

[reagansimms]

~~~

With bitcoin, you are sole responsible of the outcome of your hard-earned savings, so you need always to take extra cautious in doing all transactions and keeping them safe and not accessible by strangers or scammers. If you know well how to secure the safety of your wallet, you are good for bitcoin but if you are a careless type of person, just don't settle with bitcoin, prefer bank instead for safekeeping of your funds.

This is the most important point "keeping it safe" anyone can buy Bitcoin as long as they have the desire and money, but not everyone can keep it safe. It is best to use a wallet that has a good reputation and strong security features such as 2FA and encryption, then store the Private key in a safe place. More importantly, never give your account information or private keys to anyone and always be careful with any emails or private messages, whether via Telegram, WhatsApp messages, and avoid suspicious websites.
It may sound a bit complicated at first, but once you start learning and practicing it, everything will become easier to understand about Bitcoin, investment strategies, and how to manage risk.

[Cookdata]

Let's not make it too complicated for others when we can just make it simple and focus on bitcoin. The fact that you risk to buy and hold bitcoin, that comes with responsibilities and obligations so you can protect your coins 24/7 without giving a single chance for scammers to steal your coins. The biggest challenge here is not on how many bitcoin you will able to accumulate, but how long can your store them and secure your coins without letting the scammers find access to your own account, your own bank.

We advocate more on about online fraud and how people can lose their seed phrase and private keys. I think it's good if we channel that energy an advocate for privacy inside and outside the internet. Most often, people fall victims of scam and fraud of stolen funds due to their wallet been compromised, phishing is among and 100% it's as a result of privacy has been jeopardize in one way or the other, scammers can't take what they know about you until you let them.

Don't let the world know that you have Bitcoin if you have, it brings eyes and attention from different people, could be people that genuinely loves you and people that dispose you alot. There is no way you will know about it until you are close to them. In Nigeria, it's safer to walk as if you have nothing than when you do it even when you have an encounter with some law enforcement, if they don't abuse you and tag you as a criminal, they will label you as scammer, the outside cold and crazy here.

[MusaPk]

Banks are still useful these days, the reason why others still chose to stick with it and ignore the idea that they can be with their own bank with bitcoin. And that's okay, because having bitcoin as your own bank brings also a lot of pressures on how to manage and secure well your own wallet so it won't be taken advantage by those scammers that are just waiting for victims in the corner.

In the end, bitcoin as your own bank is just an alternative, we can still use our centralized banks with fiat while earnestly earning some bitcoins on our own wallet.

Banks are integral part of our lives and we can't avoid them because of different reasons. Bitcoin is very handy in so many cases but it doesn't have the capability to replace conventional banks at least till now. In case of Bitcoin, you are custodian of your Bitcoins and if they are lost their is no way to recover them. That's not the case with conventional banks, if your money in bank is stolen because of negligence of Bank then they are bound to pay you for the loses. Bitcoin and Banks have there own value in our lives and we need both of them to deal with our financial issues.   

[Issa56]

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.

People still lose their money to scammers when it’s stored in banks. Bank will protect your money in bank, but as a customer operating a bank, you should know how to protect your account from scammers. You might receive a random call or message to input some informations about your bank, if you are not smart and you did what you are asked to do, then you going to lose your money, and you can’t blame banks for that.

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,

Before you invest in bitcoin, I do encourage we learn about wallet security first, and if you are also leaving your money in bank, they going to enlighten you on how you going to secure your bank account.

If you are planning to invest in bitcoin, and you don’t have knowledge on how you going to protect you bitcoin, then you might just end up losing your investment after some time, because you might end up making crazy mistake, that’s why we shouldn’t joke with our wallet security, and we should keep on updating ourselves.

[Dzwaafu11]

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.

Banks doesn’t help their customers to protect their money against fraud. What they do is that they advise their customer, on how to protect their funds in their banks,. Because we have many people around us who believe in banks so much,  and they are victims of getting scam, if the banks help I don’t think they will get scam, rather the banks will protect their funds by all means no to be withdraw from their accounts, but they failed to do that.

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.

Bring your own bank, really require many things. Because you need to learn, many thing are out here that you are suppose to know. Also you need to keep your head updated, because scammers are everywhere and they have many format of scamming people, so you are the holder there's many things to do for you secure your funds.

[Agathamay]

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.

Cryptocurrency is not for everyone and the intelligent minds knows how to root in for the big winnings. Owning a bank not consider something one do in a hurry but with constant hardwork and one knowing exactly what he's doing, worrying too much about success wouldn't mean anything because winnings will definitely keep coming. Gaining acquaintance with what matter is definitely something for one to do with comfort.

[tottong]

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.

Banks will only provide some tips to customers to avoid fraud, but customers themselves must be more careful.
My friend once had a bad experience with this. His bank account was hacked, but when he reported it to the bank, their response was very slow and they didn't even provide full support to find the perpetrators, even though they could have traced the flow of money. Banking systems are sometimes slow in responding, so my friend suffer significant losses from these crimes.

This is interesting to review because someone must be able to create their own bank in an effort to develop their finances for the better and we can also be more effective in implementing it without relying on other people's options. Then what can we do to meet these criteria in each individual's efforts to develop skills towards insight into this progress.

[Pi-network314159]

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.

Even as the bank provide this security you claim, fraud still happen in the bank, or haven't you heard that bank was hacked and money stolen? Well all I can say is that there is no  security that is %100 guaranteed because anything can happen Both in bank and in crypto wallet. And I don't think you will need to do all the work bank does for you to be safe  because you are only the manager of your wallet. The only work that bank does that you will do is to keep your seed or secret phrase in a safe and secure place and stop clicking any link you come across in social media, expecialy the one that involves crypto currency wallet importation, because they are phishing link that can have access to your privacy.

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,

Yes, we need to secure our wallet like our life depends on it.

[Mpamaegbu]

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.

Nice one. That's a great way of pushing out a salient information.

~

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.  

That must be a bank with great security network. If it were in my country, the only thing that could be done would be to stop further spending from the account. That's by way of blocking that account. Whatever that's already spent is gone forever. The bank will do all it can to absolve itself from blame by pointing the victim to the fact that the fault isn't its. Your wife's bank did a great job by even tracing all the places the stolen funds went to and at the end recovering such. It interests me how that was achieved.