I am totally disappointed with the banks! These state-legalized 'criminal organizations' are not about to work on behalf of the client, they want to take advantage of everything that the client can provide.
If we look at many countries around the world, banks do not allow customers to buy cryptocurrencies, let alone allow them to use their digital channels to interact with this new decentralized global economic market.
The example of my country
In Mozambique, as in many parts of Africa and the world customers are not allowed to interact with cryptocurrency exchanges, no bank allows this to happen. We have the exception of Banco Barclays which today was renamed to ABSA which until recently still allowed certain of its cards to interact with the crypto virtual world.
But even ABSA has a problem-customers cannot use their normal means to acquire cryptocurrencies, they have to first buy a prepaid card and recharge it with the currency they want (MZN, Dollar or even Euro) and so be able to make payments online.
Other banks followed this example and guaranteed prepaid cards to their customers, however, when they wanted to make online payments, a message appeared on the screen 'payment not made, contact your nearest branch'. Customers had to go to the bank in order to unlock it and register it as an online purchase tool, but even so, when they interacted with the purchase of cryptocurrencies, it did not proceed.
However, any other type of payment made with the same online bank card (as long as it was not crypto) the transaction was allowed!
Surprise?! Of course not, it is clear that there is an agenda behind all these prohibitions and barring payments by these institutions.
They're not happy about not having control over their customers, they're used to bossing around and they own payment centrals. The customer is just a product to achieve a means, a disposable collection that can be used and abused at any time and do whatever they want with it.
Banks are unreliable
Some time ago, in Brazil (I have a friend there) they closed exchange accounts without notice, freezing funds from companies that operated using cryptocurrency in the country. Companies operating in the business were given ultimatums to legalize their businesses and declare how they produced money since the 'product' they supposedly deal with (Bitcoin and other currencies) were not considered real assets.
Many of these companies went to court, others won their cases, others closed their doors because they couldn't work and were without access to their funds for long periods.
Near here in South Africa, last year 2020, the FNB (First National Bank) cut connections it had with exchanges and blocked all accounts of its clients that interacted with cryptocurrencies and it was necessary to intervene in the Court so that many were unlocked, here, Justice still works, imagine where it doesn't work...
Recently, there are many cases that connect the world's largest exchange, Binance, where banks and financial institutions are cutting ties with Changpeng Zhao's company! Conspiracy or exchange can have the same problems but because they all appear at the same time to complain🤔 something is not right...
Better to use P2P exchanges than banks
The best way to protect yourself from banks is to use peer-to-peer exchanges where the customer pays directly to their seller, Fiat or even means that are not directly connected to banks.
For example, every sale I make of Bitcoin Cash, when I need it, I do in a peer-to-peer way my 'comrades' and I work directly, they pay via M-pesa (mobile wallet service very popular in Mozambique and Africa) and then I send Bitcoin Cash. It is a time-consuming but completely safe process.
When I don't need a Fiat, I directly use Bitcoin Cash to purchase consumer goods (not actually legal, only accepted for some) in a commercial establishment where the owner uses the same Bitcoin Cash to make payments for products in Dubai.
No banks, but Bitcoin Cash Yes...
Unsurprisingly, I don't trust banks and I don't like the way they treat their customers, they abuse their goodwill when they use their services to store and move value.
They are in possession of the customer's money and appropriate their freedom to move it when they want and how they want. When they authorize it, they choose how and what to buy using their services, which is absurd.
They retain the customer's freedom in the name of control.
With Bitcoin Cash everything is different. Using Bitcoin Cash, the user claims his right to freedom, where he is master of his own destiny and can do whatever he wants with his money. Nobody rules the finances, except the owner of the money. It is your own bank and sends, receives money any time of day, anywhere in the world 365 days a year and all this done in a matter of seconds.
One last thought
Banks have the immeasurable ambition of control, they are not satisfied when the customer uses their money to gain financial freedom, where they have no power. They do everything to keep the same ones glued to them, but that's all a facade.
That's right, facade, banks as they have no power in the decentralized world will, you might even think it's 'conspiring', doing everything to ensure that customers have cryptocurrencies. That's right, they forbid it, they create distractions but in the end they are acquiring cryptocurrencies and in the future they will offer them as investment currency and hold them in customers name.
Make no mistake, they have no intention of approving or even 'legalizing' but have control over their clients and having the money around their institutions will create custody portfolios. Big mistake who trusts them... Not your KEYS NOT YOUR CRYPTO!
While using Bitcoin Cash none of this happens and the user is in full control of their financial decisions. He rules his economy and can make payments, receive remittances, pay for what really matters in the 'blink of an eye' without interference from third parties, after all he is his own bank and in his bank he rules!
Use Bitcoin Cash instead of banks and keep your money in wallets that can control your private keys, only then this amount will be yours for real and always remember 'not your keys not your Bitcoin Cash'...
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...'Read also 005 of my latest other articles about BCH😎:
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