living without banks is i think verry hard , why ? simply because not all people can use cryptos and with that said , the support for cryptos on merchants is also less . that means we cant use our cryptos anywhere . now if there were no banks , were can we get a fiat money ? how can we buy a crypto if we dont have a fiat ? see ? there are still many hindrances that limits the use of cryptos .
Money transfers and local exchange can provide that. A local exchange allows you to convert crypto into fiat money and the money transfer allows you to withdraw your money in that particular local exchange. Although it exists, in my opinion using bank to get your fiat is still better since it's available anywhere as you may withdraw at any atm machine if you have for example a visa atm/debit card. 
Topic: What's it like to live on crypto instead of Banks? - page 14. (Read 2807 times)
Well the only things I couldn't do for now using crypto is that I am planning to have a car loan and the only thing I can give as a collateral is the monthly salary. Who could've give me such loan for now but nonetheless the banks themselves. No car company is still accepting Bitcoin here in the country and I feel sorry for that. For now I am enjoying Bitcoin as online tool of paying, I shop online and in an instant and that is what I am most fond of, no interest unlike credit cards and other middleman payments, direct to the supplier and the item is directly delivered to me.
living without banks is i think verry hard , why ? simply because not all people can use cryptos and with that said , the support for cryptos on merchants is also less . that means we cant use our cryptos anywhere . now if there were no banks , were can we get a fiat money ? how can we buy a crypto if we dont have a fiat ? see ? there are still many hindrances that limits the use of cryptos .
Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.
Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money?
Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money?
The notion of central banks control over the economy and the constant increase in global prices create the need for cryptocurrencies. Unlike other electronic cash settlement systems that take days to process transactions, cryptocurrencies enable instant settlements. So I believe that we can actually live better with cryptocurrencies instead of fiat money
Everyone wants to experienced such cashless society. But new things are hardly accept and we shall admit that banks is has a secured and centralized system which we still need. But who knows? Thoug I might think that removing banks in our country in a replacement of cryptocurrency is really impossible. There's nothing wrong if we think about the, "What if's".
Exactly,,, if we all had a choice of course we would like financial freedom, independence with our money and all of that, but in the end of the day most of us want the security of someone to keep our money, to decide how much things cost for us. Well,,, people in my country say they prefer to work with the government even and earn a pension so they do not have to worry about the life in old age. If you remove banks and use crypto only, none of these things can happen properly.
I don't think I need to imagine it anymore as this is happening already.
My life in crypto space so far is awesome, I don't need to use too many platforms to do payment cross-nations as I can use Bitcoin and other cryptos as form of payment (Ethereum and Doge are my favorites to buy online things).
Soon in the future, I think I don't need to go out to deal with bankers or anyone and I can do everything from home, like working, paying bills and anything.
My life in crypto space so far is awesome, I don't need to use too many platforms to do payment cross-nations as I can use Bitcoin and other cryptos as form of payment (Ethereum and Doge are my favorites to buy online things).
Soon in the future, I think I don't need to go out to deal with bankers or anyone and I can do everything from home, like working, paying bills and anything.
Imagine living your life without depending on Banks ever again. Using only cryptocurrencies such as Bitcoin or Ethereum, you can make your own income stream and use the coins earned to buy stuff from merchants who accept them. Every day, cryptocurrencies have been going closer towards full mainstream adoption. However, there are still some things which prevent crypto from being used over traditional payment systems we've been accustomed to for a long time.
Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money?
I don’t know what kind of world you are in, but I still live in our physical world, where most people use ordinary paper money and are not going to fully switch to using cryptocurrency. Yes, and how can you switch to its use, if so far only a very small percentage of trading structures of a business trade for cryptocurrency? The adoption of cryptocurrency and the development of infrastructure for its use as a means of payment is still very far away. Nonetheless, what's it like to live only on crypto instead central-bank issued fiat money?
Citizens of Venezuela already do it. As do Nigerians and many underbanked regions of the world.
surely the choice of a country's economic system is different there are those that have banks and some that are not, but some of the world is dominated by bank banks and rarely those who do not have a bank may only be remote countries. in my opinion, living with crypto without a bank is not safe.
The emergence of banks has been around ever since time immemorial. They handle assets, resources, and money in which they utilize for lending or for investment. Most people rely on banks for the security of their money and in-return, they exercise this fiduciary relationship wherein TRUST is the focal point of the subject.
Now when we talk about cryptocurrency which is volatile in nature, we do not want our assets to change its value overtime. In fact, what we want is an investment wherein we could grow the value in maturity for the long-run. I doubt that living in a cryptocurrency world would be that successful. It is good on paper but the risk outweighs the merit by a long shot.
Now when we talk about cryptocurrency which is volatile in nature, we do not want our assets to change its value overtime. In fact, what we want is an investment wherein we could grow the value in maturity for the long-run. I doubt that living in a cryptocurrency world would be that successful. It is good on paper but the risk outweighs the merit by a long shot.
Live without the banks is a total financial freedom from prying eyes always watching over your assets and i really wish to see such a vision come true in the nearest future. Making transactions in cryptocurrencies is more convenient than having to send monies through banks.
indeed, convenience when transacting is an option, but we must bear the risk of each, because our wallets are like banks. therefore I think there will also be services from the bank for crypto storage or crypto loans 
Citizens of Venezuela already do it. As do Nigerians and many underbanked regions of the world.
Live without the banks is a total financial freedom from prying eyes always watching over your assets and i really wish to see such a vision come true in the nearest future. Making transactions in cryptocurrencies is more convenient than having to send monies through banks.
I think it can be possible and in future can happen, but i think governments will still want bank to work and this is the way they control money, but will be great if will be possible to use only crypto, now when i want to cashout crypto i need to work with banks.
It's like living in the world without boundaries, without fear to go somewhere else as you feel secure and no need to bring your wallet for physical money. I believe living in the world under the era of cryptocurrency is the most favorable advance system in financial concern.
Everyone wants to experienced such cashless society. But new things are hardly accept and we shall admit that banks is has a secured and centralized system which we still need. But who knows? Thoug I might think that removing banks in our country in a replacement of cryptocurrency is really impossible. There's nothing wrong if we think about the, "What if's".
I agree that banks are a secured and centralized system which we still need. Not all banks are greedy and abusive, I know some banks which offer nice features like cheap fees (or no fees), different investment options and they act like advisors.
Also, there are some banks that doesn't give you interest each month. So, it's a better option to use bank if you are "afraid" with interest stuff. Still there are many people use banks because they are easy to use and widely accepted around the world. I mean there are pros and cons on each method, so they can choose whatever they want.
It's like living in the world without boundaries, without fear to go somewhere else as you feel secure and no need to bring your wallet for physical money. I believe living in the world under the era of cryptocurrency is the most favorable advance system in financial concern.
Everyone wants to experienced such cashless society. But new things are hardly accept and we shall admit that banks is has a secured and centralized system which we still need. But who knows? Thoug I might think that removing banks in our country in a replacement of cryptocurrency is really impossible. There's nothing wrong if we think about the, "What if's".
I agree that banks are a secured and centralized system which we still need. Not all banks are greedy and abusive, I know some banks which offer nice features like cheap fees (or no fees), different investment options and they act like advisors.
In a cashless society we would still need to pay fees to the miners, like we pay in our societies, so I think there isn't a point on it.
It's like living in the world without boundaries, without fear to go somewhere else as you feel secure and no need to bring your wallet for physical money. I believe living in the world under the era of cryptocurrency is the most favorable advance system in financial concern.
Everyone wants to experienced such cashless society. But new things are hardly accept and we shall admit that banks is has a secured and centralized system which we still need. But who knows? Thoug I might think that removing banks in our country in a replacement of cryptocurrency is really impossible. There's nothing wrong if we think about the, "What if's".
Yeah there will be a start difference of course but the reality is that it'll probably happen in years, probably decades before we see that to even start happening. Banks can be considered as one of the cornerstones of every country's economy so it's hard to imagine people dumping banks in favor of crypto for now.
That's certainly true, mate. Banks have dominated our economy for a long time. It would be difficult for people to choose crypto over Banks, especially since Fiat is still the leading currency. Not to mention, crypto is still experimental and on its very beginnings. This means that it would take quite some time before cryptocurrencies become mature for the mainstream world.
Even now, with crypto's limitations, it’s still faster and cheaper than Banks. There are many technologies available which allow some cryptocurrencies to process thousands of TPS without reduced throughput. All they need is regulatory compliance and mainstream acceptance to prevail. Despite this, the decentralized nature of cryptocurrencies is unfriendly to many of the world's governments. As such, Banks will continue to dominate because they're centralized and easily to manipulate or enforce regulatory measures.
Nonetheless, it would be a dream to live only on crypto on top of existing banking infrastructure. Just my opinion
It's like living in the world without boundaries, without fear to go somewhere else as you feel secure and no need to bring your wallet for physical money. I believe living in the world under the era of cryptocurrency is the most favorable advance system in financial concern.
Exactly.It's like we will experience freedom in managing our own income and holding it without the presence of banks.There will be more transparency and even fast and efficient crypto transactions that is too far from fiat transactions.I think if this will happen in the future,then people should be more responsible too on how to keep their cryptos safe and secured.
It's like living in the world without boundaries, without fear to go somewhere else as you feel secure and no need to bring your wallet for physical money. I believe living in the world under the era of cryptocurrency is the most favorable advance system in financial concern.
Jump to: