I just wanted to withdraw some money abroad and once again got hit by the immense fees banks charge you to access your own funds. They wanted me to pay 5$ for a single withdrawal, which basically equals about 100 Bitcoin Transactions...
Until a few months ago this has just been normal to me and I didn't complain about it at all. But knowing that it would be possible for me to pay with crypto directly while paying just a few cents in transaction fees or even nothing at all made those fees appear like a fortune to me.
We can really just hope that the masses start to realize those small benefits and money saving potentials of crypto sooner rather than later. We all could move around the world this way without having to worry about any fees the banks charge us on every single transaction. We could simply pay with e.g. Steem or SBD all around the world for free.
So in case anyone still thinks that the banks are the good players and should be kept around, then I'm finally opting in against this opinion. Let's keep working together on bringing cryptocurrency to the masses, keep growing the space and solutions available. Let's show those greedy banksters how the world of finance works without them - Way better!
A Crypto Startup Revolutionizing Steem! |
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This is what I'm always saying to myself:
Disregard fiat, acquire crypto!
This being another example as to why cryptocurrency has experienced a peak in wider audience interest. The banks need to apply new world thinking to the old world situations or continue to be left behind.
People are becoming wiser to it, vote with your feet, the days of these cartels are numbered.
The masses of people are highly unconscious...
Not sure I see your reasoning ? .. except u don't like paying fee's - I'm sure we would all agree :) But you can make direct payments from your bank, for free under most circumstances. You can also pay with visa debit cards for free, you can pay with paypal for free in most cases - I'm not sure I see the difference, except there is no ATM for bitcoin, and my local grocer wont accept it.
I travel abroad a lot, I always make as few transactions as I need to, and withdraw a good amount so I don't have to keep visiting the ATM, you can also take money with you in most countries and negate the need to hit the airport ATM's. The local ATM you withdraw from will hit you the highest, not your bank, they are offering you a service and you are paying for that service, your banks fee will probably be round one third of that total transaction fee, less than a couple of dollars I expect.
I think your article won't reach anyon who thinks banks are good. Because anyone here on steemit has to be a crypto supporter or at the least believer.
You have been posting some real great articles ever since I started following you. Keep it up.
For me it's mostly free to withdraw in all Euro countries. But also for most countries outside the EUROPEAN union.
And how much BTC do you think you get if I transfer peer to peer an amount of €5? Sometimes you get nothing then.
And then I didn't even mention the 2 best things about banks and fiat money.
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revolut is ment to be pretty good in the EU, until mainstream adoption comes
Yeah man!
good post..
Horrible we have to pay to use our own money. Banks charge to withdraw, hold, invest, and sometimes even deposit— yes, one of my business accounts charged $2 for every deposit over the 200 per month limit. Hilarious. There has to be a better way. Crypto is wonderful in concept but not stable enough to put critical life in when you have a family and may be too busy to trade and maintain a portfolio every day. sigh