Why I Prefer Bitcoin to Banks

Why I Prefer Bitcoin to Banks

Before I learned about Bitcoin, I used to be so angry with the way most retail banks exploited their customers.

I mean, who gave them the power to cheat people in broad daylight?

  • The interest (0.5% pa) they pay to customers on deposits is ridiculously low when compared to the amount they get for lending funds to borrowers.
  • They charge outrageous fees for transfers and maintenance costs.
  • Transfers take many days to settle sometimes.
  • You have to do the paperwork for almost any transaction.
  • You can’t secure loans easily.
  • You can’t move large funds freely.

When I met Bitcoin, one of the first things that fascinated me was that I could actually hold money online without using a bank. That the value of the amount invested could increase massively is another bonus.

Banks are crooks really and only a necessary evil as a friend described it.

We still need them to bring fiat into crypto and for other day-to-day transactions.

I really do hope we’ll eventually have a world where banks are not as relevant as they are today.

Bye Banks

Buy Bitcoin.

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