Post
Topic
Board Economics
Re: Bitcoin banking is more preferable than normal bank.
by
m2017
on 04/01/2023, 15:17:57 UTC
Bitcoin banking is more secure than normal banking, because you are the only one that has access to your personal wallet but in normal banking customer cares can login into your bank account without you're notice and use your money for any kind of businesses.bitcoin banking is more reliable than normal banking because money that is in your normal banking can be deducted or withdrawal without you're notice but that can not happen in Bitcoin banking everything happens with your authorization.
In fact, traditional banks, despite their shortcomings, have many advantages. For example, it is that users of traditional banks don't need to worry about the security and storage of their deposit. The whole issue is decided by the bank and deprives customers of this headache. Convenient, isn't it. Especially for those who are lazy and don't want to bother with security issues.

In the case of bitcoin banking, it will be necessary to take on the responsibility of keeping and maintaining the safety of savings. Nobody else will do it for you. If a mistake is made with the record or an insufficiently reliable place to store the seed-phrase, everything will go down the drain. Here you won’t be able to turn to support, which will fix your problem, and the consequences of mistakes can be catastrophic and deprive you of everything you had.

So, these 2 types of banks have radically opposite features.