My uncle from Dominican Republic came to the US in the
mid 70s. At the time the economy from having some hard time
due to the oil issue with South Asia. He mentioned that when you
go to a bank to open an account, they treat you so good good.If I recall
he was opening an account with $1000 US. It shows how the banking system changes
after decades of turbulence.
Now a $1000 is still a lot of money. In crypto
you can get 0.11661454 #BTC right now.
steem you can get 6292 steem. This is rewarding we can
put a value next to something we all hold dearly.
The safest way now to hold that $1000 should be through a bank account.
That way it is in liquid and you can use it whenever you want it or when the bank is open
you can withdraw it.
Lately there is a trend with the banking business. They charge you to hold
your money. We know already the dollar is losing its value through inflation
now you have to pay to hold a losing valuable.
I already knew about most US banks will charge you a monthly fee if you have
in your bank account a minimum deposit. Let us say $1250 every month.
If you go below that amount, you will pay $12 for them to hold let us say
$500. The bank is telling you straight up, take your money out.
This is why we see a rise in the regional bank or credit union where the service
is strong in your area but weak elsewhere. Definitely this form of banking or doing business
needs an overall. I am pretty sure what I mention could differ to the plan of negative interest.
This goes to saving or checking account that confuse most people. This is another subject altogether.
The banking business earns a substantial amount of money just on fees.
They wish to go away with negative interest since you have to pay them to hold your money.
The idea behind this move allow banks to give loan to jump-start the regional economy.
Charging people to hold their money kill the value of money.
I feel like they know money has no value so let us make more on top of it.
I have to say the trust in the banking system is fading so fast, the banking system closed the drive through
couple years ago across America.
Quite a few branches are changing the way they do business.
You go inside there is no tellers to help.
You have to deal with big screen computers for everyday banking.
Or you go to a specific branches that still serve.
The banks are realigned themselves to prepare for this moment.
Stats are coming and they see the trend. Lately I do not go to the bank unless
I need a paper related issues. Everything is online. You can deposit checks and do everything
almost anything online.
For this reason a crypto like #bitcoin is building momentum.
Fees and negatives interest rates are going their way, here comes #BTC, #steem, etc...
paving the way to grow wealth. It may sound we are just shifting to the second speed
on the gear box, just like a diesel truck it is catching speed where most people hold a wallet.
As it may sound more people are holding their funds in crypto.
It is new to some but it heading North like a freight train.
The most trusted crypto will half this year.
It means more pressure on the demand, reducing inflation.
This will create a momentum like previous one.
It means for you more value and wealth builder in the long term.
Crypto will not close banks today, it will cause them to change their behavior in the future.
Do not forget no one will ever charge you for holding, trading or buying crypto.
If there is a fee of exchange it is so tiny, you may not see it.
Crypto does not discriminate. Make sure you educate yourself and stay on the loop
of things to come.
I can see brighter day in the horizon.
Posted via Steemleo