The Factor - Reason why I'm not
Continuing my yesterday's article entitled "Do you still believe in the Bank? I'm not", drawing conclusions only revolves around explaining the condition of centralized banks and harming consumers globally. So this time I want to write my personal reasons why I do not believe in the existence of a system bank based on awareness of the many facts that have occurred.
The first of the many reasons is as I said too complicated and inefficient. Where the level of weakness of the Bank compared to the Crypto is the ease of registration and the form of an address. In the banking world, it is called a bank account while in crypto a wallet address.
A bank account is required on the basis of one fiat currency based on the currency we use and must register with identification and an initial charge for opening an account is also required. While crypto is only based on one type of cryptocurrency that we want to have and it does not charge any fees at all (0%). Another advantage of crypto can create many (unlimited) wallets, while banks are limited.
Moving on to the second factor, speed and getting answers will be the least of the problems with crypto. Where the use of all kinds of payment methods using the bank system depends on their system and the network that supports it, giving rise to real-time demand problems. As soon as the payment method through the system bank is still relatively more time-consuming and problems often occur compared to the direct method of using crypto payments (from crypto to crypto). Not to mention the problem of payment via crypto to the bank, this method is the most time-consuming method for consumers due to legal issues compared to consumer needs for the speed factor.
The third factor is the problem of errors that usually occur by the bank, not by consumers. Where in conditions like this the consumers who are harmed are even more disadvantaged by the conditions of the procedures that must be done by consumers to solve the problems that occur. Even though the bank should act in accordance with its responsibilities, not even hand it over to consumers.
Factor four is very clear about the condition of market monopoly which ultimately ends up in the community's need for banks. So that the steps taken by the community are limited.
The fifth factor may be very personal and present because of the problem of the belief law of the religion that I believe in. Interest or usury. Being the most frightening factor as a religious believer I believe. Because the law is very clear and explained the dangers and prohibitions of usury. And unfortunately, the Bank is an institution that carries out the practice that breathes usury.
So although only five factors are listed among the many other factors that are the reasons why I don't believe in the existence of the Bank, there may be many questions about how I do or choose the method I use other than the Bank, while in reality everything is currently related to the banking system? My answer may be a cliche and will not fully answer the need for an answer to the question. What is certain is that I always take steps to find a way out to stay away from all practices related to the banking world, especially those that smell like usury.
As long as I live until I write this article I have never and hopefully will never intend to use or take an item or anything through the credit method. I do not have a bank account in my personal name, and I have never borrowed let alone used bank services such as deposits, credit, or products from banks. Then how have I lived it all this time, especially since I'm also a crypto user who takes shelter in an area that legalizes crypto but doesn't allow crypto as a means of payment? Again, my simple answer written is a sentence where there is a step there must be a way.
There is no maintenance charge in crypto. But the bank has a maintenance charge even if you do nothing. Crypto is fast, transparent, and secure. The bank cannot beat crypto on this. I like crypto and intend to do most of the things around crypto. Glad to see like-minded people. :)