Quote from: Joy- maker on April 10, 2025, 01:42:24 PM

I see many people saying that they trust bitcoin more than they trust their banks, well it's a matter of choice anybody can choose what to trust either to trust bitcoin or to trust their banks, and many too has developed the habit of saving all their money in cryptocurrency, like bitcoin rather than putting some in the bank and putting some in bitcoin as an investment, though it's not a problem, I just want quickly remind some focks the role of Bank and why we still need them.

The role of banks
Banks play a multifaceted role in the economy, and it serve as a intermediaries between savers and borrowers, it facilitate transactions and provide financial services to individuals, companies and government.

Banks collect deposit form individuals and businesses, and then use the funds to make loans to others. This process by which banks collect deposit from individuals and businesses to make loans for others can help allocate capital efficiently in the economy.

Banks help individuals and businesses to manage risk by providing i nsurance services, investment products and other financial instruments that can mitigate potential losses.

Banks also provide a safe and convenient way to conduct transactions, such as online banking, savings account, debit card, checking, and credit card.

Banks also offer access to financial services for individuals and businesses, promoting economic growth and development.

Why we need banks
Banks play a crucial role in facilitating economic growth, by providing financial services to individuals, government and businesses.

Banks also offer a safe and secure to store and manage money deposited in Banks, by reducing risk of theft or loss.

Banks also provide a wiide range of financial services for individuals and businesses, making it easy for them to manage their finances.

Banks are also driving Innovation in financial services, such as online lending, digital payments and mobile banking, which can as well increase financial inclusion and access to financial services.

Banks also provide loans and credit to individuals, businesses and government, enabling them to invest, grow and achieve their goals.

So my question now is with all I just said do we still need banks.

It obvious you've already given answers to your questions.

However banks yet have other severe deficiencies, accessing your money sometimes becomes a problem due to how poor their network is.then making important transaction because difficult, it's so unfortunate how poor our our financial institutions operates

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