Topic: Do you still use Banks ? - page 8. (Read 1136 times)

Your questions are so many, well, let me summarize them as much as I can. We have to be careful about laying too much trust in cryptocurrency, what if it eventually goes, especially if the government had a total crackdown on it? Did I hear you say it's not possible? My friend, it's very possible and if the centralized exchange has been destroyed in addition, people will be afraid to deal with the decentralized arrangements which will almost kill cryptocurrency as a whole. Also, you might have been taking it too far by not having any money in the bank again, fine, cryptocurrency is very good for you but always try to think of the situation where it might seize entirely or a bad thing happens. You might be left with nothing in your approach. Even the credit card companies you deal with still use banks, so be wise.

You can stash your money on other investments too, it must not have to be cryptocurrency only if you are wise, it might be a bitter experience when you get to realize this. Crypto should only be smartly invested in, nothing more, and when you invest in it, do not be an extremist who will act like those who will "put their eggs in one basket" due to current happenings and believe, anything can change unexpectedly. Even if it's for hacking alone, you should be careful in this regard. That alone could fail your crypto plan.

1. I use more of banks in this regard, I primarily invest and trade crypto.
2. Of course, hacking and theft should be the concern of everyone holding money online, which is why it's good to have several wallets in case of an account compromise.
3. There is nothing wrong with banks, no one can do without them, can you? And you can't spend your crypto in most places. It's just that banks cheat people overall with the sharing of the money kept with them and are not encouraged for business. But this shouldn't stop us from being smart investors.

I still use the bank for several purposes in my work. But not to save my assets. But only for work needs. Because in my country almost all companies will pay their employees at the end of every month by transferring it directly to the bank account numbers of all company employees. And that's why Bank is still needed for me now.

But I always move part of my salary to crypto assets and withdraw part of it and save part of it in an account for my needs for one month. I personally still trust banks if it's just for daily transactions or the like. But I don't do it to save anymore. Because currently I also prefer to hold bitcoin and several altcoins to use as investment and trading capital occasionally.

And actually here it is difficult to avoid the bank system because all shops and others accept payments by credit or bank debit cards. Well it's still quite practical and I don't hate it. I personally prefer everything to go together. Both centralization and decentralization. Everyone can choose freely where they will use it more often.

Yes, we can say that using the banking system is mandatory for almost every individual in today's conditions. Unfortunately, in order to make payments especially for businesses located in a different country, it is necessary to use a payment method within the banking system because cryptocurrencies or a similar payment method aren’t yet officially accepted by the governments and the only way to make these payments is to use the banking systems. On the other hand, as an employee of a commercial company, I use my IBANN number provided by my bank and accepted by my company to receive my salary every month.

In other words, I can easily predict that I continue to use banks nowadays and will continue to do so for a while as they haven’t yet lost their importance in our daily lives, are used all over the world and are legally accepted by all the governments of the world.

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.

I am as deep in Bitcoin as I can comfortably be but I still have bank accounts of course. I love Bitcoin, it’s done so much for me, the banking system is broken but I still have bank accounts & I don’t see that changing for quite a while.

Yes even with my crypto I still must use the banks to live. I must pay off my bills and my rent and I can not do this with crypto so of course I need to use the bank.

I think there will always be a need for us investors to use banks. There is not going to be a time I can think of where crypto will take over the need for the banking system.

• I use cash more than bank transfer, I shop more offline.
• So far no, I have never been hacked or stolen. They're fine.
• They work on their portions, I don't mind using a bank as long as it gives me more efficiency.

It's not that I don't trust the bank, but I haven't used a bank for several years, and I don't have a bank account there either. Most of the time, I have e-wallet accounts here locally in our country.

Ever since I did crypto trading online, though, I tried to open an account at the bank, but when it was time, they didn't accept my crypto trading so that I could be approved for opening an account with them. Because they want me to have a permanent job or any legal business.

Which country you live @OP? only El Salvador was accepting Bitcoin as legal tender, I have not yet other country is accepting cryptocurrency as legal tender.

I don't believe you're use crypto debit cards to pay your daily needs, crypto isn't yet widely accepted anywhere. People do hold cryptocurrency, but just an investment, not become a currency.

Of course almost everyone still uses bank even though there are crypto currencies. We can't stop using banks anytime soon. Maybe not in the next few decades. Most places and merchants all around the work still uses fiat currency. Very few shops or services right now accept crypto currencies. Even if they do accept cryptos, they instantly converts it to fiat currency so that the volatility doesn't affect their business. We aren't yet ready to completely shift from bank/fiat currencies to crypto currencies. That would be a huge change.
So you aren't actually using crypto currencies. You are still using fiat currency to make transactions. And how does your "debit card" works better than the bank? The card you are using is still the same card a bank would provide you with.

Yes, I still use the bank, this is what I use for my daily needs. Because there is cryptocurrency, you don't need to use a bank. Why do you need to compare the two when you can use both. I think people will never lose the use of the bank because apart from being used to it, it is also easier to get money and buy online or offline here.

What did you think to do in the country where cryptocurrencies are illegal? I can't just stop using banks because I still operate them and they are still important to me, banks save us day by day after all. How will you manage if you come from a country where people do not accept or believe in cryptocurrencies? You have no choice to continue using banks since, in my opinion, there is nothing wrong with doing so. In fact, banks in my country are still operating normally, with the exception of the fact that you do not have any money in your account. You will only be implicated if you choose to use cryptocurrencies as a form of payment.

We hold cryptocurrency as an investment rather than for daily use. When I need money, I can sell some because banks are still working good in my country. I believe that your country is safe, which is why you are teaching your family to use cryptocurrency as a form of payment. In most other countries, this is highly dangerous, and people in my country may believe that they are going to scam them, if we try to use crypto as payment. The fact that the bank won't give me a loan doesn't mean I can quit using them.

Although I have more trust in Bitcoin than banks, I still prefer to use banks to cash out my earnings in Bitcoin. I choose to convert my Bitcoin earnings into fiat currency through a bank to make it easier to access and use for day-to-day expenses. They may be old, but they are still necessary for me to withdraw my earnings.

I use cryptocurrency for online transactions but switch to traditional methods when necessary since not all transactions accept crypto payments.
I have experienced security issues with cryptocurrency in the past, but now I feel safer using a hardware wallet.
Banks are still functioning well, however, I don't trust them enough to keep my money with them.

I haven't taught my family how to use cryptocurrency yet. Some of them are old and might face difficulties in using it. Moreover, if they make any mistakes while using it, they might hold me responsible for it.

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.

Yes, since Bitcoin and cryptocurrency is not legal tender in my country, i use bank for local transfer to enable me to pay  for the goods and services they render to me which I need to pay in local fiat to avoid police case in the country. Whenever the price of Bitcoin is low in the market which is the best time for those that have money in their bank to use the opportunity to buy Bitcoin and hold for a long time before they will sell to make income and save the money in their bank account for future purpose. Cryptocurrency and bank are very important to me, and if you are using the two nothing wrong about that but ensure you invest your money in cryptocurrency than bank because you will not make any income from bank when you save your money there.

Few people who are involved in crypto currency use bank but some local transactions require us to use bank. We understand very well that investing money in Bitcoin is much better than saving money in the bank so we may consider investing in the bank as the best choice. Those who had bitcoins and sold bitcoins to bank money may now realize that selling bitcoins to bank money was the wrong decision for them. By keeping money in the bank, not only will we miss out on our investment in Bitcoin, but we will also have the possibility of losing our money if the bank goes bankrupt. Crypto users might refrain from keeping money in the bank because of all these considerations.

I have investments in crypto mostly in bitcoin for store of value not for transacting to buy regular goods which is not possible in majority of stores or platforms.
I still use banks it's more convenient to transfer instantly in seconds, and everyone accepts it. if any fraudulent transaction happens then before transacting that amount first i will receive a call from bank to confirm it.
while banks continue to play a crucial role, the significance of crypto cannot be overlooked. It is also vital for banks to integrate crypto services or create rules and guidelines to keep up with the changing money world.





.

I still use bank but I don't save huge amount in my account. I have an atm for urgent matter, that's why I still save but a big portion of my assets are in crypto particularly in Bitcoin.

Many people trust bank. Though I don't have bad experience (fortunately), I can say it's still reliable to store your money in crypto rather than letting it sleep in bank with very low annual interest. I'm using bank for convenience that's why i'm not completely closing doors even there are already alternative. When it comes to investment, I still prefer Bitcoin and other established crypto.

Yes. Of course, your country has regulations by issuing special laws regarding this matter and I am also sure that the government itself will see how extraordinary the level of crypto asset transaction value is. The hope is that in the future, not only your country, but other countries will also open themselves to the development of blockchain technology and become leaders in blockchain development.

not sure what country you are in.

But I seamlessly use btc,doge,ltc and banks and checking and credit cards.

I also don’t trust any of them which is why I use all of them.