Bitcoin is better than the banking system for a ton of reasons. You go to your neighborhood ATM to take out money that belongs to you, but the bank that has kept your deposit to disperse loans charges you a fee for using the ATM. And that fee has only increased with time:
In the midst of all of this greediness of the banking system, cryptocurrencies such as bitcoin are our only ray of hope.
Banks have become greedier
The establishment might shun bitcoin for being an unregulated and speculative asset, but they seem to be forgetting that the flagship cryptocurrency is originally meant for executing peer-to-peer transactions quickly, unanimously, and at low costs.
Banks, on the other hand, have a different agenda of fleecing customers. According to a report by Bankrate, the average fee to use an ATM is inching toward the $5 mark. Two decades ago, that fee stood around $2.
But that’s not the only way banks are burdening their customers with higher charges. The monthly service fees for maintaining an interest-bearing account has increased to $15.05, up from less than $10 back in 1998. Similarly,…
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Author: Harsh Chauhan