Your Guide to Getting the Most from Alternatives to Banks
Banks are fascinating. They create extremely helpful products and services, like checking accounts, debit cards, and credit cards, all of which make our lives convenient on a day-to-day basis.
But in return, they rob their customers blind. They charge exorbitant interest rates on the products that they offer. And the bigger banks are rolling in as much as $50 billion per year.
And when you decide to store your money in their digital vaults, what do you get? If you’re lucky, it’s about 0.5% interest.
Banks don’t love you. They use you.
Ready to find some alternatives to banks, so you don’t need to feed the machine, and their yacht-driving CEOs anymore? Read on below to find a few alternative banking options to the traditional banking system, that was built hundreds of years ago before the advent of the internet.
Cryptocurrency has been around since 2009. And since the time that bitcoin hit the scene, it always intended to free people from the tyranny of the banking system.
At its core, crypto is a peer-to-peer digital currency, built for the internet (unlike fiat currencies, like the US dollar). That means that you and I can virtually send money to each other, in the form of crypto, without a bank acting as a middleman.
Crypto is also the best asset class of all time, providing insane levels of return, and leaving inflation in the dust. Meanwhile, big banks are happy to give you less than 1% interest, even though inflation is hovering around 7% right now. They’re so kind to watch your cash savings burn while they get richer.
How to Get Crypto
Crypto is the greatest alternative banking strategy of all time. You can use it to store your money like you would in a savings account. You can use it for purchases like you would money in a checking account.
Invest it to earn price appreciation and interest. And you can even take out crypto loans, which can be much more favorable than traditional financing options.
It can do everything that dollar bills and debit cards can, without paying for the overhead of corporate banks.
So how do you get it? Head over to a crypto ATM. Check https://www.bytefederal.com/ for nearby locations. Insert your dirty fiat currency and get bitcoin, Ethereum, and other reliable cryptocurrencies.
Crypto is the greatest alternative banking strategy of all time. You can use it to store your money like you would in a savings account.
Other Alternatives to Banks
Crypto isn’t the only thing you should know about, but it is the biggest and most important innovation since the internet. There are a few other tools at your disposal.
If you want to use a bank, without using a typical bank, you can use a credit union. These are non-profit organizations that still make lots of money, but don’t dump it all into the pockets of their CEOs and shareholders.
Tools like Paypal can virtually replace your dependency on a bank as well. So can the latest software applications like Cash App or Venmo. Just be careful, as there might secretly be a bank behind the app that we just don’t know about yet.
The Choice Is Yours
Banks like to be in control. They can literally print money and devalue our currency at will (and they do it daily).
And they are very powerful, meaning they do their best to stop alternatives to banks from succeeding. But we are in the midst of a financial revolution. Will you take part, or give in to the tyranny of banks for the sake of convenience?
The choice is yours, and yours alone.
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