Doing stuff together is great, it’s even admirable as many of us tend to go through the ups and downs of life alone. Cooperation is something that makes us understand each other better and takes us forward. But there’s one thing that should only be for ourselves. The money thing should always be a party for one. It should always be you who’s the sole owner of your money. Not banks, not other institutions. And guess what? Cryptocurrency provides that option.
Unfortunately, it’s rather common that money has many “owners.” What does it mean? When your funds are stored in a bank (and it is the case for most of us), it means that the bank is the second owner of that money. Your money.
Some people even go as far as saying that once your money is in the traditional banking or credit card system, you turn over your stewardship of the funds to a third party. And as we all know, three is a crowd.
The issue here lies in the fact that the third party will have power over your assets. Ouch, I know.
It’s an unjust system. But it doesn’t have to be
And that’s not all, folks. Were you aware that bank accounts have been closed down, without any notice, for infringement of a financial institution’s Term of Service? It’s not uncommon. Unfair? Yes.
What’s even more unfair, annoying and devastating about it, is that it requires the account holder aka owner to jump through hoops to restore their account and get back in the system. Oh, and don’t forget the fact that 2 billion people don’t even have a bank account.
The ugly truth is as follows: if for any reason, the bank decides that the account owner wrongfully uses their account, the system has the right to freeze all their funds without any prior warning. We’ve all agreed to that by signing up. It’s shocking, I know.
But why?
Merely because the traditional banking system provides us with a service of holding, sending and receiving funds.
You gotta hand it to the system though, so far it’s been the best option out there, but times are a changing. And we’re on a fast lane here – it’s all happening quicker rather than slower. The reason behind it is the rise and development of cryptocurrencies. True, the final product isn’t quite here yet, but we’re very close to achieving it.
Cryptocurrency does it different
Do you want to know the greatest of all advantages of cryptocurrency? It’s so easy.
Unless you’ve delegated management of your wallet over to a third party service, it’s you who’s the sole owner of the corresponding private and public encryption keys that make up your cryptocurrency network identity or address.
Noone other than you, the owner, can withdraw and use your digital money. Plus it’s extra safe.
The future is now
And the result drum roll please is: you and you only will finally own your funds.
I guess we just got carried away with the banking system. And that’s because the system beat it to the technology first, and provided us a fine service to hold the money for us and move it digitally.
The era of cryptocurrency is close. Thank heavens. It means that the whole crypto concept is supported by a technology that doesn’t need any traditional institutions to make it work and keep it going. It means that we’re finally able to fulfill our mission.
Do you agree? Well then, what are you waiting for! Come join us!