Quote from: qwerty12 on August 23, 2018, 03:02:46 PM

Quote from: Abeey4life on July 29, 2018, 10:59:07 AM

Saving money in a savings account is like putting money in a pocket with holes. Banks only give you interests that are lower than the inflation rate. Its how they make money. You are better off investing in ventures (Crypto currency) that give a return higher than the inflation rate.

Yes, I agree with that. In addition, cryptocurrency like Bitcoin has significant advantages over banks in a number of fields, including security, unlimited transaction settlement, efficient payments, and lack of dependence on service providers or centralized entities.

Not to even talk of the advantage you tend to get based on the freedom you have to spend your money or make any transaction within and outside your settlement.

Banks has been more like a necessary evil for a very long time with nothing much to show for anyone who saves in the bank, and you will even be lucky if the interest you get on your savings is not even scooped with some of their bullshit charges on card, SMS or thereabout. At least, this freedom is one value that cryptocurrency brings that banks will find hard to give.

Differences between cryptos and banking sectors must be individuals based and also country specific. Most Swiss banks allow to have anonymous banking as far as I do hear whereas in my country double or triple level of KYC is required to operate a bank account. Cryptos ensure our financial freedom but banks are just opposite to freedom but not everywhere and not for everyone.