Banks below minimum balance fee VS Crypto wallets - no fee!

[Amna Hareem 1213]

On 12/21/2019 at 10:05 AM, kimberly24 said:

Good day everyone and today I just wanna share my experience with the bank and with my crypto wallet. Most of the bank in my country are charging fee when your deposit went below the minimum balance and gladly cryto wallets are not charging anything with regards of deposits. It's a huge difference and that's why I'm gonna invest in crypto currencies.

Yes you are right dear my country banks are also charged very high fees and I am also investing in cryptocurrencies because first of all cryptocurrency are best and also many profitable then Bank and I am earning a very good profit through cryptocurrencies so I also suggest other to just invest in cryptocurrencies.

[BrolySSJ 7899]

I think that this is a very good difference between banks and crypto however i think that the one thing that is very important that you need to know is that there is a difference in risk with crypto and the banks as well. Therefore as much as there may be a deposit fee for banks, there is a lower risk in terms of your funds and you are receiving interest which could make up those fees. Crypto on the other hand is very volatile, so this must also be considered before making a decision. 

[velasco19 1753]

It is a good point to take into account, however currently there is no adoption of cryptocurrencies to be able to use it widely, so FIAT money and banks are still very necessary, in your case you should look for mobile applications from your bank to open one account that does not charge commissions for carrying out these types of transactions.

[Roman Wickler 1021]

Yeah that what reality is. Bank fee is so big sometimes is so bigger than the real amount. There is also vat . So the fee is even higher. Because of that alot of people don't put their money on bank . But on the other hand bitcoin withdraw fee is so little and everybody like it. There is no vat.

[zhoutong 2188]

These banks that do that they are very greedy. They shouldn't be extorting to have a minimum and take fees just for falling bellow it. You are doing the right thing to stay with crypto as these greedy banks are only creating more problems for themselves.

[annayks 2314]

The difference is the money in your bank is not yours. It is the bank money and they don't even have that money to give to you. They only have 1/10th of that money from all their deposits and perhaps even less. If the government guarantees a minimum for deposits then keep just that in your bank, even though this guarantee depends on many things too.

[Cleaner 2549]

On 1/2/2021 at 2:18 PM, BrolySSJ said:

I think that this is a very good difference between banks and crypto however i think that the one thing that is very important that you need to know is that there is a difference in risk with crypto and the banks as well. Therefore as much as there may be a deposit fee for banks, there is a lower risk in terms of your funds and you are receiving interest which could make up those fees. Crypto on the other hand is very volatile, so this must also be considered before making a decision. 

There is a difference between a bank and a crypto.  Everyone can invest money in the bank and pay less interest there, but the money will be safe there.  And in the crypto world, the profit is more but the risk is also higher.  So everyone in the crypto world needs to be aware.  Crypto coins are always volatile so investing here is risky.

[glory50 1259]

@WaseemRazzaQ @davy22 @Umar 1619

Banks have a worry to take, this is because crypto currency is really showing much growth to it we need to be good in this nd be good and effort to which, we need to fight this ideas that works well for the best ideas that we are able to run for the good ideas we need to find solutions to it we need to work as hard for it and be sure to find solutions to the problems that works well for it

[Farsa fat 328]

Despite the high fees in banks, we cannot dispense with the banks and its services. As we cannot move freely and deal with our money only through cryptocurrencies. I hope that more cryptocurrencies will develop and facilities will be put in all countries and all difficulties will be gone

[Faska fas 307]

Banks are always in search of their profits. But crypto wallets concern about the safety and the security of the users. The also give the best features to attract people. Banks doesn't do that. The cryptocurrencies users are always spending time in crypto related things. And the wallets give facilities about the fees so that the others can attract towards it. That's how actually it works

[Yad hair 358]

There are many differences between banks and crypto wallets , banks has its advantages and disadvantages and also crypto wallets also have its own too, but you need to compare between the two and choose which one will be more good for you to save your money

[Jacky clark 368]

Banks are not for investing your money. They are to keep safe your money while crypto world are for investing your money. But if you want to safe your money in crypto wallet then it will be dangerous for you because they are less secure as compared to banks. And if you want to invest your money in banks they will only give you interest not profit like investing

[Robert William 590]

You says very well in my country local banks need minimum amount to maintain, when we can't maintain this amount they reduce our amount its not good for us but in crypto we can't to maintain any account when we have low amount they can't reduce our amount, that's why so many peoples attracted with crypto currency

[Garion hirao 550]

It is obvious. Many banks simply earn on this, namely on transaction fees. But banks have no chance at all to resist wallets without a commission. To open a bank account, you need to fill in a lot of papers and wait a lot of time, and to create a wallet it is enough to simply register.

[Wane Rastuar 583]

That's one of the most important benefits of Crypto currencies, especially for people who live in countries banned from PayPal or other bank payment methods. Also, Wallet fees can be controlled by the sender, whereas bank fees are controlled by the bank!

[Idaho Bruk 573]

I do not see any point in using banks at all, since it is unreliable, the human factor will always be there and this is a huge minus for banks, the cryptocurrency is much more reliable in this regard

[Samotokika 1780]

On 12/21/2019 at 10:05 AM, kimberly24 said:

Good day everyone and today I just wanna share my experience with the bank and with my crypto wallet. Most of the bank in my country are charging fee when your deposit went below the minimum balance and gladly cryto wallets are not charging anything with regards of deposits. It's a huge difference and that's why I'm gonna invest in crypto currencies.

There are some advantages and disadvantages to save money in your Crypto wallet because they are not much as secure and hackers are now very much common in cryptocurrency but they have less fee and casting you much more fee 

[Oki 675]

That is one of the advantages of cryptocurrency, which does not need to have a minimum balance and there are no penalties if the balance is only small when you store it in your wallet. It is very different from a bank that must have a minimum balance when in an account, and there are penalties if the balance is below the minimum. An excellent alternative to cryptocurrency, we are no longer bound by costly rules, it is better to keep money in cryptocurrency.

[Goyaa 2414]

There are many advantages to storing cryptocurrency in a wallet over keeping money in a bank. Storing crypto does not incur a monthly fee and it will also increase the price as the coins we store go up. It is very different when compared to banks, because we have to pay administrative fees every month. In addition, cryptocurrency wallets are self-managed so our money is very safe.

[Jack764 1841]

One of the most important features of cryptocurrencies is that they save people from high fees and taxes, and they also make it easy for us and save time and effort.

[Quickbee 26]

There is a lot of differences between bank deposit and Crypto deposit. Banks charge a fee because they have to pay salary, rent for premises, electricity & other office expenses. Even if the banks charge a fee, I am sure everybody in this forum has some amount in the bank. A bank deposit has its own uses. Crypto deposit has other advantages.

[AL SHAIMON 1293]

Banks are use our money for doing profit. They charge lots of fees for transection or holding our money. But in crypto-currency sector there are a very less fees and you can do transection soo much quickly. However you can hold your coins on wallet for year without giving any charge.

[David84 1191]

It is true, cryptocurrencies are easier to transfer, invest and keep , because no fees at all or very minimal fees, while banks charge for everything, even if you want to deposit your money they will make you pay for opening an account and will charge you for any procedure that you take, therefore having a cryptocurrency wallet is much better.

[Muhammad Ahmad meo 689]

This is a good news for everyone. Cryptotalk forum, pay for every post through yobit wallet. Yobit wallet is safe and famous wallet throughout the world. For transection of money, there is no fee detection from our account.that is why we are working on this cryptotalk forum.

[Majd Raslan 5 549]

This is necessary for banks to have low fees compared to the wallet because they want to bring people to it, but they cannot take the work of the governor because the bank requires many verification conditions and documents, and many countries do not support these banks. As for the wallet, registration is sufficient only, especially since it is not less safe than the bank.