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

[Babubu609 0]

On 12/21/2019 at 10:27 AM, ashua1 said:

yes, if you leave it as it is, it will not cost you money, but when it comes to money, it will definitely cost you money and that's inevitable.

You so funny mate you earn money to money?

[Bohana 2143]

On 12/21/2019 at 7:05 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.

Who told you that crypto wallet don't take any fees? Can you please give me an example? I'm using Blockchain and they do take fees for withdrawal. 

[Rares002 262]

Crypto was created to fill in that gap of bank lapses. This transaction fee charged by Banks are higher than crypto. Crypto is very fast in sending money international than Banks

 

 

[Fedor00 74]

You can't just compare bitcoin wallets with banks like that. Becaude both banks and cryptocurrencies have their own advantages and you can't say which one is better 

[gkapoxm 84]

Banks can have their own set rules and can even let an account be blocked for no reason. You literally are controlled by them.

 

Crypto is controlled by math and the rules of the network, so even if you do something "wrong", you are ok. Banks can define what is wrong and scam you in the end.

[Captain Karim 0]

This is one of the simple differences between banks and cryptocurrencies, but the most important difference is that you actually own your money, not the bank.

[Razan alikac 1899]

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

[Shaza Ahmad 1682]

A good option, I hope you will make profits from your investment in cryptocurrencies, but be careful. Investing in cryptocurrencies is one of the most dangerous investments and most profitable at the same time so try to make your steps steady.

[pablomarwan 3082]

Yes, you are right about this issue, and this is one of the things that I also make me prefer coding on the central banks. If I were now putting some amount into my bank account, I would find myself no longer have anything now. Encryption has multiple and unique advantages

[magd 5231]

Banks always put specific methods for deposits and withdrawals, and there are many mediations so that they can transfer and withdraw, but the encryption is completely different and the fees vary according to the type of cryptocurrency that you will convert and in proportion to the price of that currency in the market.

[Rezort 846]

I agree with your statement, however banks still have the most popular currencies and they are fiat currencies, so when crypto is more popular, crypto wallets would be the best.

[malik6314193 5449]

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. 

[Raqeebzy 6456]

Is that your lone reason of investing in cryptocurrency?. I can tell you a lot more, maybe that you are not aware of or you forgot. Take a look at the below list maybe you might have other reasons. 👇

• Decentralisation: With cryptocurrency, you are your own bank, you need not a third party in performing monetary transactions.
• Anonymity and Privacy: Cryptocurrency provides an environment for its users to perform transactions anonymously without their privacy being intruded.
• Safety: Probably the major concern of newbies and cryptocurrency prospects is the safety of their investment. Crypto uses the blockchain technology which a lot more easier and safer than the banking system
• Accessibility: Most of the times, you find it very hard to access your funds with Banks, maybe you might need to pass through some useless processes. You don't have that with cryptocurrency, once you have your keys and password, you can easily access and use it.

[Zaino34 0]

There are many differences and each of them has its advantages as well. We know that the bank fees are fixed while the fees for digital currencies are variable depending on the change in the price of the digital currency.

[Virgil dijk 1431]

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.

[Hatred 1388]

On 12/21/2019 at 1:05 PM, 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.

Well, I don't think that there is no fee when you deposit from your wallet. It is because everytime you deposit, the wallet, will charge you a fee. But unlike in the bank, the fee is much more smaller and it will only cost less than $1 I think depends on what wallet you are using and if bitcoin price is affecting the transaction in the wallet that you are using.

[George10 9932]

On 12/21/2019 at 7:05 AM, kimberly24 said:

. Most of the bank in my country are charging fee when your deposit went below the minimum balance

Banks always implements certain measures that needs to be followed when you deposite or withdraw and they also charge fees especially when withdrawing or transacting just like in crypto but the different is that in cryptocurrency you can carry out a huge transaction at a very low fee and no charges for storing your crypto as compared to banks that charges certain fees for storing your money though cryptocurrency is filled with so many scam scandals and hacks that acts as threat to your money.

[Saj555 2250]

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. 

[Mcd0d0 5882]

12 hours ago, Hatred said:

Well, I don't think that there is no fee when you deposit from your wallet. It is because everytime you deposit, the wallet, will charge you a fee. But unlike in the bank, the fee is much more smaller and it will only cost less than $1 I think depends on what wallet you are using and if bitcoin price is affecting the transaction in the wallet that you are using.

Well, that's true mate, there's no extra fee available when you deposit some money but when you're buying some coins using that wallet, there's a fee right there by deducting your money, example of that wallet is the coinbase.

[jamesvince 2389]

Banks charges us different kind of service just debit card, credit card, SMS charges and cheque book charges but on the other hand crypto currencies market have no any these kind of charges only we paid little bit charges on each transaction which we made.

[CryptoLover21 0]

Yes, cryptocurrencies are very beneficial for the normal people than the bank because most of the banks don't give you good return. If they give the return they will give you less rate than the inflation of the country's rate and the value of the price decrease year by year.

But in cryptocurrencies you can easily make wallets and transaction of  coins from our own pc and you can get more profit than the banks.

[Ridam 7455]

That's why the Crypto wallet are far safer than banks Account, banks charges money if yoy store money there and also gives you small intereste and some how they managed their profit from our money. And if we can store for long term like in Crypto.com we get best interest to our Crypto currency. So Crypto wallets are far better than banks and easy for transaction too.

[Hatred 1388]

8 hours ago, Mcd0d0 said:

Well, that's true mate, there's no extra fee available when you deposit some money but when you're buying some coins using that wallet, there's a fee right there by deducting your money, example of that wallet is the coinbase.

No mate, you don't understand what I really mean. I said that just like the banks, our digital wallets also have a fee everytime we deposit on them. But unlike in the banks, the fees are just small that you think there is no less on the money you've been deposited.

[Jaysen0104 536]

Yes i agree that's the advantage of having cryptowallet than having a bank account. Banks are tend to have high fees but in cryptowallet you can avail low transaction fees by exchanging it to low value coin.

[Mcd0d0 5882]

1 hour ago, Hatred said:

No mate, you don't understand what I really mean. I said that just like the banks, our digital wallets also have a fee everytime we deposit on them. But unlike in the banks, the fees are just small that you think there is no less on the money you've been deposited.

Well, thanks for correcting me mate and I'm now totally getting your point, the banks has small amount of fee when we are deposit some money it's because this is just an fee for their service, actually we can not give them some payment from it because we are using their banks to keep our money safety.