Money is a complicated subject, and the more complex it becomes, the more difficult it is for people to secure their money, especially when they need to rely on banks to do so. If you’ve ever heard an old-timer ranting about how they don’t trust banks and instead keep their money under their mattress and thought that they were crazy, then you may be surprised to find out that maybe they had a bit of the right idea.
The bottom line is that everyone is out to make money. And everyone is always trying to find ways to make more and more of it, especially the big corporations that hide costs in their lengthy contracts. Your bank is no different – they, like many other companies, will find ways to make a profit off of your money. This is because banks don’t really hold onto your money for you – they actually lend it out to other people. So when you put money in your bank account it’s not really secure, it’s not really there. Those numbers you see are actually an IOU – a promise that the bank owes you money.
This and other fundamental problems involving North America’s current monetary system is why many people buy Bitcoin so that they have absolute power and control over their money. By storing your cryptocurrency in your crypto wallet, you are separating your funds from the hands of banks.
Bitcoin transactions are actually stored in a distributed, decentralized, public ledger, called the blockchain. This public ledger of crypto transactions is accessible to anyone and exists on every computer that connects to the internet. This ledger isn’t controlled by anyone, but is instead constantly being updated by computers tracking transactions and writing them into blocks that form a chain. These chains of blocks are coded so that after the transaction is complete they cannot be changed.
Because the blockchain is decentralized and not stored on a single server, it is not prone to hacking or to suffer from system failure. The combination of this security as well as separation from banks or government institutions makes people feel more secure about their money, especially when they know that they have full control over it.
Separate Yourself from Banks
When you think about it, you’re forced to use a bank’s services because of the way transactions, loans, and savings work. Large transactions can be messy when done with paper bills, which is why so many of us rely on banks to manage digital money transactions for us. Many people consider banks to be trusted storage providers who enable us to store large amounts of money that would be unreasonably difficult or physically impossible to store ourselves.
This fact sort of leaves your hands tied when it comes to your money – or at least it has in the past. Now because of cryptocurrencies like Bitcoin, blockchain technology, and crypto wallets, you don’t have to rely on centralized banks anymore to hold onto your money.
So if you want total control of your money then make the move and find out how to buy Bitcoin for a profitable and secure investment.