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?https://i.redd.it/ve2utr98n7y51.gifThe 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're today.Bye BanksBuy Bitcoin
Submitted November 09, 2020 at 07:45PM
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