Do you still use Banks ? - page 2. | Bitcointalksearch.org

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Quote from: TimeTeller on December 18, 2023, 06:48:45 PM

Every person has their own preference on how they will store their assets.
Some are really going all in into crypto, that is, if they are already in this market and have the knowledge on how things are going here.

People who already have knowledge will certainly know how to save their assets and will not remain silent and continue to make steps by continuing to enter the market with the aim of profit. So it is quite clear that each person must have their own preferences in safeguarding assets and in seeking profit while safeguarding those assets.

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But I believe, the majority of the population are still tied up with their banks one way or another.
And most crypto users here are still using banking services for so many reasons, such as mortgage, salary, remittance among others.

Banking services are still used by many people from all walks of life, but everyone certainly knows when it is time to use bank services and when it is time not to use bank services. Because not everything needs to be linked to a bank, although most things still use bank channels to bring money to any exchange or to any virtual account at this time.

bakasabo

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I hold crypto and still use banks. Hard to imagine nowadays life without banks. Payments with cash are limited or monitored (if you buy something that cost 1000+ EUR with cash, you need to show ID, or payments more than 5000 EUR arents allowed in cash in general). We are so used to paying with card or app, that cash is no longer needed. While crypto swings from side to side like small boat during the storm, while there is no clear understanding with fees, people will still use banks.

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In real life for transactions and other things, I stick with banks, because this is recommended and crypto is only used as a commodity asset.
If it interferes with the use of commodities, it will violate the laws applicable to legal payments in the country I live in.

I can't help but have to keep using the bank as the main payment.
More often use banks for Online payments like basic goods, tax payments, water fees, electricity and internet etc.

But for long-term investment, I still hold crypto, hold Bitcoin and some altcoins that have good potential in the future.

Bd officer

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Quote from: Fullbear2222 on December 13, 2023, 09:37:28 AM

We have cryptocurrency you still use Banks ?

I have never put any money in the bank, and I will not put any money in the bank in the future. Because I think I should not put money in the bank knowing about the most popular currency currently Bitcoin. Because inflation has increased in our country, money is losing value day by day. I invested my money in Bitcoin to protect against inflation. Besides, I have to deal with various problems to withdraw money from the bank, but I can quickly withdraw my money from Bitcoin as needed. Also long term investment will help me to earn high profit.

Also, I advise those who keep money in banks in my area to invest in other sectors. I ask everyone to invest in gold, silver and land. But if a close friend or relative I suggest him to invest in Bitcoin. Because bitcoin is illegal in my country can't advise everyone to invest in bitcoin.

TimeTeller

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Quote from: gabbie2010 on December 18, 2023, 04:40:46 PM

I prefer all my major or bulk of my assets in cryptocurrency rather than save it as fiat in a bank In fact to make matter worst there is a growing high rate of inflation in my country thus saving my money in my local currency in the bank amount to losses in the long run instead I converted it to Bitcoin and hodl in a wallet I only sell bit via P2P if necessity warranted me to do so and get some fiat that is fiat needed for my daily upkeep is save in the bank, meanwhile I don't think I have any challenges with the safety of my Bitcoin with regards to whether the wallet can be hacked or not I have already put in place the necessary features to protect the wallet.

Every person has their own preference on how they will store their assets.
Some are really going all in into crypto, that is, if they are already in this market and have the knowledge on how things are going here.
But I believe, the majority of the population are still tied up with their banks one way or another.
And most crypto users here are still using banking services for so many reasons, such as mortgage, salary, remittance among others.

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I prefer all my major or bulk of my assets in cryptocurrency rather than save it as fiat in a bank In fact to make matter worst there is a growing high rate of inflation in my country thus saving my money in my local currency in the bank amount to losses in the long run instead I converted it to Bitcoin and hodl in a wallet I only sell bit via P2P if necessity warranted me to do so and get some fiat that is fiat needed for my daily upkeep is save in the bank, meanwhile I don't think I have any challenges with the safety of my Bitcoin with regards to whether the wallet can be hacked or not I have already put in place the necessary features to protect the wallet.

Mauser

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Quote from: Fullbear2222 on December 13, 2023, 09:37:28 AM

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 ?

Not a big surprise that they majority people here on the forum trust Bitcoins over their banks. After the 2008 financial crisis with the collapse of several big banks I am quite careful when it comes to storing larger amounts of money at the banks. I am still required to use banks every day for my transactions, because I get my salary in FIAT money and also have to pay my bills in FIAT money. Our whole economy is based on using banks and quite a few stores are stopping to accept larger amounts of cash. Before the covid pandemic I only used to pay with cash and leave my debit card at home, but now it becomes harder and harder to only rely on cash. It would be nice to switch to only use Bitcoins, unfortunately most stores still don't accept cryptos. I do get a lot of scam mails every week from my "bank" which wants me to open suspicious links. But since my bank has their own App, I would never receive such legit emails directly. From crypto hackers I didn't receive any emails so far and I am trying to be cautious as much as possible. Banks are definitely not as safe as Bitcoins, my solution for that is to spread my money out across multiple banks and never rely only on one bank.

Mate2237

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I don't know for others, but as for me Bitcoin is not for daily spending but for investment and trading. And before one uses Bitcoin for daily spending or transaction, the person's country might have adopted Bitcoin to be a legal tender. As for my country we are still using banks very well. We can't buy things with bitcoin and there is no Bitcoin ATM around us so we us the fiat banks very well. Though it has been long used the Bank to withdraw money. I always use the online banks to make my transactions.

As for now in most countries bitcoiers can't do transaction to buy things without fiat.

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Quote from: poodle63 on December 17, 2023, 07:27:25 PM

Quote from: oktana on December 17, 2023, 06:42:16 AM

I don’t believe that there’s anyone here who can claim that they do not use banks anymore. Because how then do you get the fiat you use to pay for things? It is not a new information that Bitcoin isn’t entirely global to the extent that we can use it for everything we do. Currently, stores are beginning to accept Bitcoin as a means of payment but it’s not so much yet. So the average thing you want to purchase, you will have to pay for it with fiat. Do we have an option? No. So, we have to use the bank anyways, at least until Bitcoin stands its ground completely.

many country hasn't yet accepting of the presence of bitcoin as a payment processor nor any altcoins, instead many proposed to create their own digital version of their currency so I guess we all know what direction these country gonna take. therefore it can mean that in the future we would still be depending on the banks and Im not sure anyone can bear not using bank for long.
I personally still put my saving into bank, and also the result of my investment, because I guess its guaranteed by the government that if there's anything wrong like bank suddenly went bankrupt im gonna get reimbursement from the government it just adds some assurance that my money is gonna be fine moreover I also frequently deposited my money just for the sake of investing.
I guess bank will never be replaced by any other entity, thats just how much integrated it is to our live that using bank is kinda normal thing and if we don't use it we might just try to complicate ourselves into some unnecessary inconvenience that shouldn't exist in the first place.

This is true. I don’t see Bitcoin being able to fully replace the banks because even if it could handle all that transaction, transactions fee is already a big enough challenge to face. Imagine online stores that accept Bitcoin as mode of payment, some will stop accepting it (at least for a while) because maybe they need the money instantly to restock or something. Also like you mentioned, the Bank is already a part of our lives, people will find it difficult to entirely leave it (unless Bitcoin can beat it transaction-wise).

Charmekkd

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Quote from: AicecreaME on December 14, 2023, 12:59:09 AM

Nope.

Saving in banks is a waste of opportunities to make profit with your money, and a lot of inside jobs always happens, like some random amount from your account will be deducted out of nowhere and you don't even know who accessed it without even asking for your confirmation and like security code. Worst thing is that they would not even compensate it, just a not sincere apologize because their system was hacked or something else just for an excuse.

Saving money in the bank every month must have a fee that must be paid, which is taken directly from the account. Personally, in my opinion, the amount is not too big, but if the bank continues to charge this fee every month in the long term, if you think about it, it will definitely be quite a large amount. So this will be a bit burdensome too. But it can't be helped, that's the bank's terms. So it's natural that you are no longer interested in using a bank. Because the rules and regulations are a bit burdensome. I personally still use a bank, but to minimize my monthly bills a little, I decided not to use an ATM card, so the monthly costs are a little cheaper.

348Judah

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Quote from: WillyAp on December 17, 2023, 08:56:29 AM

There could be more shops accepting crypto and not accepting Bitcoin.
Everyone wishes to own bitcoin due to its value. and although a shop does not say it accepts Bitcoin, Bitcoin is accepted.

Bitcoin is not only serving as an asset alone just to keep but it's also what we have to use as a medium of exchange, being a digital currency, we are expected to spend it, also hold some portion on our personal wallet and kepp, in cryptocurrency, other cryptos may not be acceptable as a means of payment like bitcoin, bit people value bitcoin and uses it for serving their different purpose in the financial economy.

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Quote from: alastantiger on December 17, 2023, 06:56:32 PM

I wish I can avoid banks but it is not possible. Banks will always be a necessity.

It's possible but you'll eventually going to need them still. No matter how you want to deny the fact that you won't need them, the time will come that any of their service is going to be needed by you.

Quote from: alastantiger on December 17, 2023, 06:56:32 PM

Even Bitcoins.that I hold cannot do the job that the banks do. While my family will have Bitcoin holdings banks will still be used to save monies until crypto and Bitcoin becomes mainstream. For now though, when traditional people think about the issues with Bitcoin that is yet to be resolved, they'll either choose to own a spot Bitcoin ETF or keep using the banks.

While it's possible to see banks offering some crypto service but they won't focus with that feature. It is the reality that wherever we go, money is going to and fro in the banks.

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Do you trust your life wealth more btc or Banks
• I trust Banks more
• I trust btc more
• I dont trust my life wealth not bank not in btc

My understanding is that banks and Bitcoin are two different things, but they both have different uses, they both need each other, you can't be optimistic and be prejudiced, Bitcoin is used as a crypto/digital currency while banks are a means of storing paper money, the uses of the two are different, that's the main point.

Bitcoin can be sold and disbursed in the form of paper money, of course banks are the main means of disbursement, if you hate banks, then how do you withdraw money, Talking about wealth and trust, whether economically, of course banks have been used by people long before Bitcoin was issued.

So regarding trust in assets of course I trust banks more, talking about investment and trading I trust Bitcoin more, not in assets, but as I said above, basically both need each other.

You should make a fourth vote, the opposite of point three, trusting both Bank and Bircoin.

Inwestour

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Quote from: alastantiger on December 17, 2023, 06:56:32 PM

I wish I can avoid banks but it is not possible. Banks will always be a necessity. Even Bitcoins.that I hold cannot do the job that the banks do. While my family will have Bitcoin holdings banks will still be used to save monies until crypto and Bitcoin becomes mainstream. For now though, when traditional people think about the issues with Bitcoin that is yet to be resolved, they'll either choose to own a spot Bitcoin ETF or keep using the banks.

People will use the systems that governments allow them to use. If central banks implement their idea and introduce the CBDC, then perhaps the banking system will be changed, but for the population the essence will not change much, they will be able to use banking products, and governments will control their every step.

It is difficult to avoid using banks, but in order not to expose your funds to any threats, just keep enough in the bank so that you have enough for the bare necessities, for some everyday expenses, but no more.

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Quote from: Dewi Aries on December 15, 2023, 04:00:04 PM

I agree with this, because banks also have their own important role, where in today's life with the development of technology, of course investing in BTC is good because if this is run well in the long run it will certainly be profitable, but not everyone can do it because this is not an easy thing to do, most people fail halfway and stop their investment. so only people who have high consistency can do it.

There are some people who are still not familiar with bitcoin so it will be quite difficult for them to get involved in investing. Talking about a long-term system will make some people who are not familiar with Bitcoin panic more because of price fluctuations that occur at any time. Likewise, the failures that people experience are caused by a lack of knowledge in investing.

Quote from: Dewi Aries on December 15, 2023, 04:00:04 PM

different from banks that are real in life and visible to everyone, saving in the bank will not be profitable because the balance will not increase by itself, unless we ourselves fill it up, but in my opinion the role of banks is also important, I myself save in the bank, because I think about the fear that one day I will experience something that is not wanted and also need money to overcome it, like an accident or robbery, where the money saved in the bank can be taken at any time we want, just like BTC but I really regret it if I withdraw the money in BTC, so I play both of these things well, because they have their own important roles.

The banking system has been running for quite a long time and banks have become a kind of alternative in human life for carrying out transactions over long distances and near, so they really help the processes carried out by humans. There are many people who still need banks for their financial plans in business and the service sector and this system makes it easier for them to carry out fast transactions with business partners abroad and within the country. Saving money in the bank will not be productive because we cannot make a profit, but it is better to make the percentage of savings in the bank with the investment we make in bitcoin more balanced, so that all needs can be minimized and most importantly enough to meet life's needs regarding the use of money.

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Quote from: oktana on December 17, 2023, 06:42:16 AM

I don’t believe that there’s anyone here who can claim that they do not use banks anymore. Because how then do you get the fiat you use to pay for things? It is not a new information that Bitcoin isn’t entirely global to the extent that we can use it for everything we do. Currently, stores are beginning to accept Bitcoin as a means of payment but it’s not so much yet. So the average thing you want to purchase, you will have to pay for it with fiat. Do we have an option? No. So, we have to use the bank anyways, at least until Bitcoin stands its ground completely.

many country hasn't yet accepting of the presence of bitcoin as a payment processor nor any altcoins, instead many proposed to create their own digital version of their currency so I guess we all know what direction these country gonna take. therefore it can mean that in the future we would still be depending on the banks and Im not sure anyone can bear not using bank for long.
I personally still put my saving into bank, and also the result of my investment, because I guess its guaranteed by the government that if there's anything wrong like bank suddenly went bankrupt im gonna get reimbursement from the government it just adds some assurance that my money is gonna be fine moreover I also frequently deposited my money just for the sake of investing.
I guess bank will never be replaced by any other entity, thats just how much integrated it is to our live that using bank is kinda normal thing and if we don't use it we might just try to complicate ourselves into some unnecessary inconvenience that shouldn't exist in the first place.

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Quote from: Fullbear2222 on December 13, 2023, 09:37:28 AM

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 wish I can avoid banks but it is not possible. Banks will always be a necessity. Even Bitcoins.that I hold cannot do the job that the banks do. While my family will have Bitcoin holdings banks will still be used to save monies until crypto and Bitcoin becomes mainstream. For now though, when traditional people think about the issues with Bitcoin that is yet to be resolved, they'll either choose to own a spot Bitcoin ETF or keep using the banks.

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Quote from: Ultegra134 on December 16, 2023, 06:08:25 AM

Quote from: terrific on December 16, 2023, 04:51:15 AM

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,.

That's true, it's going to be needed no matter what tech in finance goes up. Don't get me wrong, I am for Bitcoin and crypto.
But we live in a realistic world as well where most of the people wants cash, all of the business wants money that they can quickly liquidated.
With crypto, it's fine because they can exchange it as well but if you're in a business approach, it's different that these establishments want cash and that's with the banks.

bestcoins1

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Quote from: WillyAp on December 17, 2023, 08:56:29 AM

There could be more shops accepting crypto and not accepting Bitcoin.
Everyone wishes to own bitcoin due to its value. and although a shop does not say it accepts Bitcoin, Bitcoin is accepted.

What I see is actually different, because when a shop is willing to accept cryptocurrencies such as stable coins for payment for goods in the shop. Most of the shop owners are also willing to accept Bitcoin for payment because the shop owners themselves have also realized that the best cryptocurrency is Bitcoin, not other cryptocurrencies, although cryptocurrencies such as stable coins can also be used to buy anything on the exchange because the influence of the many couples there.

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Quote from: bitterguy28 on December 14, 2023, 02:39:48 AM

It is given mate that you are asking in bitcointalk forum in which majority are bitcoin supporters how could you expect someone to accept using banks more than bitcoin?

but let us accept the reality that there are still many of use that is using banks for deposit or cashing out as there are countries that has strict regulation about crypto.

but I am not using banks to store my funds or to cash out , but never that I will leave my money on them as i trust bitcoin(and some altcoins) not to banks.

Yes we are in a BTC forum, but it does not mean everybody here are using only BTC as their currency or payment method. Keep in mind that before BTC, we already have fiat/banks, & others. And it may be hard for someone to let go of them (just like that) right after they discovered Bitcoin.

Another reason is, like you said, BTC is not yet legal in some countries. There are some who just banned it, and there may be some who are going to have that status later on. It was sad. I hope it won't happen, and I hope others who banned BTC will now allow it. I still believe that some banks are honest. It's just that some, or many aren't, and it affected their reputation. I feel sorry for them Sad

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