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?
I don't think anyone is really living the crypto life without banks unless for those who are truly rich and can afford to do so. But atm, I believe it is more expensive to be living off crypto because you still have to go through intermediary institutions if the service/product you are looking for doesn't yet accept bitcoin.
One thing I believe banks have an edge over crypto (temporarily) tho is stable interest rates. While it's true that crypto earns much more than a 7% annual return from banks, there are times when the timing of losses makes it difficult to live with.