The Evolution of Banking and Cryptocurrency: Embracing Change and Balancing Risk

Now the time I changed a lot, and we do see so many changes around us whether it's infrastructure or fashion, agriculture, or the banking system. I still do remember when the staff at the bank used to enter the amount entered on the books via their hand and now everything is automated. Now things are very easy you can even perform so many things via your smartphone within seconds. It used to take days to complete now it is only a few seconds task. We can easily check our balance transfer money or receive money within seconds.

Yes of course there are rules and regulations for that. Now more concerned about investing their money. Handsome still do save money and try to play safe. For investing money now you don't have to rely on banks not anymore. There are thousands of options available online where you can invest your money or save your money sometimes you do see there are so many trusted websites and applications by which you can or do not decent amount of returns.

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Everyone wants to diversify their money, and keeping all of them in one place is kind of risky right? Imagine you do have thousands of dollars and you have invested or kept at one place and tomorrow morning you will wake up and the money is gone how will you feel? Don't worry that is not going to happen or maybe it will 😬. We do see so many cases like that may be your bank will be next or your exchange where you use to keep your money will be the next one who knows?

We do try to keep our money safe at least of few people of her money and rest we do invest and I am ready to take the risk over the investments. If you want to earn good returns then you have to invest your money in very high-risk assets. Lo risk means low returns high risk high returns and yes high risk too.

If you are above 18 then I am sure you do have a bank account in many countries you can even open bank accounts even if you are a minor (below 18). Things are so much easy these days you can even open your bank account via a mobile app you don't even need to visit a bank for that you don't need a few documents. And same goes for crypto exchanges you don't even have to visit physically anywhere everything will be online and in a way. Sometimes your application did get rejected but you can still try again after a day banks dont allow you to do that you do have to visit your bank.

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Banks are a centralized organization that is owned by the government or some particular company or businessmen. Where is your crypto wallet is decentralized not totally because we do see how the owner of the exchanges do manipulate the money here and there. Yes, the centralized bank does the same if you keep XX amount of money in your bank then Bank does promise you to pay XX amount of return by the end of the year Maybe after a few years so what is the bank doing with that money, of course, they are not keeping it like you did they do invested and mostly the give loan to other customers and charge them a good amount of interest on that.

So, basically, the risk is everywhere it doesn't matter where you keep your money but seriously nothing is safe. Yes, banks do give you the facility to transfer your money instantly. Where is in crypto you do have to wait for long but still. If you do have to transfer money to your nation then the bank system is kind of fast but if you do have to transfer money internationally then you might have to wait longer than you do. But if you are in a decentralized exchange or crypto wallet then you can transfer the amount in a few seconds/minutes.

So, basically, the thing is both are good and bad at some points so based upon your requirements you can consider it even if you have to use it or you don't. I do have bank accounts and crypto wallets and I do trust both mostly I don't have that much money or crypto assets. But now I do have on my portfolio and make a balance between both crypto and real money. There are so many ways to save your money you can open and recurring deposit or if you have a lump sum amount you can fix it for years or you can start SIP or start investing in a mutual fund or buy stock. So basically so many options are available. If you are on a decentralized platform stand you can stay your trip to assets and all via that if you are on high I am sure you can delete how's staking works.

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And of course, HBD saving gives you 20% a year APR I am sure you can't get this much apr on any bank system right now many mutual funds do promise to pay around 12% if you regularly invest for almost 10 or more years. That is long that is a long time, right?

I do want to invest in HBD but due to some circumstances right now I am unable to and the 30% crypto tax is making it difficult for me. So for now I am investing the money in different schemes. Not sharif it is gonna give me your results but still we can try that see all things will go.

If you want XX amount of money by next year then I will suggest you keep your money away from crypto because the market is so volatile investing or saving your money in bank schemes is a better deal in my opinion maybe you will get or can get a way better returns in crypto. But still, there is no guarantee but banks to give you a guarantee for that so in my opinion if you are investing for the long term then you may be considered crypto I will save but for the short term, I do prefer Bank or if you are investing in crypto to then you can look for stable like HBD which gives you 20% year really which you are not going to get via your bank system.

see you in the next post, till then keep learning and keep exploring...

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