Bitcoin cash and Banking

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It’s known to majority of people that banking activities is mostly for depositing, keeping, lending and interest commissions on people's property or money. I’ll try to analyze some major facts about banking and Bitcoin cash in this article based on my understanding about both parties with no partial.


Deposit

It’s true that both Bank and Bitcoin cash accept deposits form the public right? Yes! But they are some certain things that occur after the deposits have been made. After depositing money in bank a lot of certain things can occur like tax collector Via (P.A.Y.E) that is ‘pay as you earn’ meaning whenever you receive your salary via bank certain amount will be deducted from your salary or other sanctions other by governments and I can also remember few days ago when @Tomi-Ajax complained on his WhatsApp status that his bank deposited him for App fees, and also for the general they all banks charge for ATM. The depositors might not be convenience with all those stuffs

All this are what Bitcoin cash have eradicated. Bitcoin cash also accept deposits but not by cash but through bank ( as I said earlier, this article is about fact of both BCH and Banks ) yes! We deposits BCH in our wallet via the use of banking system. But keeping BCH is more safer than bank because no one even the governments can mandate anyone to pay or withdraw one’s money without the person’s permission. Bitcoin cash is money no one can ask or mandate someone to give another person without the person’s guarantee. Bitcoin cash don’t also charge fees for App repair or any unnecessary charges or maybe no charges.

Withdrawal

In Bank for one to withdraw his/her money it might take about few hour though that’s if the person is using either savings or current account. They’re always long queue that the bank and at any Automated Teller Machine (ATM). Like less that 2 hours will be wasted just to withdraw meanwhile if there’s some accounts that it take 7 days of notice to the bank before withdrawal can be made or approved that the fixed account. Conflict might/or also happen when people have waited long time and funds finish from the machines.

In Bitcoin cash there isn’t such barriers. Withdrawal can be made instantly without any problems of long queue, conflict and other bad issues because of one’s money. And sometimes one can even be disrespected by bankers whom indirectly you’re the one paying their salaries due to high fees in different ways but in Bitcoin cash this doesn’t happen.

Transfer

To transfer some certain amount of money in bank requires some changes and it’s not little fixed charges it’s variable. If one decides to withdraw small amounts of your money little charges will be made by the bank which might which might spoil the value or quality of the money usefulness. What I mean is that when one balance should be #1500 but due to their changes it falls to 1455. Imagine? You wants to subscribe to your network for #1500? Due to the deduction of unnecessary charges, the victim can’t use the money for initial plan, yet destructing one’s plan.

But in Bitcoin cash there isn’t such. Regardless the amount to withdraw either high amount or low there’s no or very slight charges that will not affects the depositors/users.

I’ll continue others factors.

Thanks for reading 🤝❤️💙

very big thanks to you all who have been supporting me up till now. My sponsors and those who just renew my sponsorship I’m really happy thanks once again. Thank to everyone who participated in my last article about the commercial banks and I’ve made promise that I’m going to write about the Bitcoin cash and the bank and I’m making another promise that I’ll still write more. Special thanks to the generous man Mr rusty❤️