Cryptocurrency - creating a better financial experience

Debit cards are probably the worst tools the banking system has ever introduced to the public, long after it's financing, it has put lots of people in terrible situations. This post is partly influenced by my little debit card experience last night. As usual, I love my room pounding with soft music late at night, it kinda helps me sleep sometimes. My Playlist had already played half way through and I needed to listen to tracks I've known but been too busy to download. I logged into my YouTube music account, scrolled a few playlists and I was already being pestified by ads, fuck, I needed the freedom from it and to be able to listen offline and also download.

I had to get the premium version, and as you all may already know, making payments online in this current system requires one giving out sensitive information, which in this case, card information. This information, apparently, can give anyone full access to your bank account, thus all funds inside. The banks are aware of this bullshit but yet, they forever push for adoption of debit cards. It's crazy but just knowing your account number is enough details for some folks to bridge your account and drain you up. This is the flaw of the current banking system. It not only places people in a position where they have to give strangers their personal information, which most times, includes address. It's rather baffling why YouTube would want to have this data just to offer you services as minor as music.

Let's talk about overdrafts

Ever processed a transaction and got debited twice? Or a series of further observed charges? How does crypto and blockchain technology really impact the financial system some may ask. The risks attached to debit cards and none to be blamed on the bank, there is no legal protection to it. My YouTube subscription was only supposed to be charged after 30 days, this was a free trial period until a certain amount of money will be charged from my bank account every month. But the funny thing that occurred was that I get debited more than 5 times immediately I clicked on buy It is even funny because on the first attempt, it was successful, so I had to do it again, which incurred more charges.

Did you know it's easy to have your account compromised just for using a POS? These shits work like skimming machines, they copy your card details and you get bridged before you know it. Of course, this happens only a few times, but overdrafts are way over the top.

Cryptocurrency - creating a better financial experience

One thing about crypto is that it's not just money based on the internet, it's definitely from digital money which is already in existence through mobile banking. Crypto creates an experience that is unmatched. You own your money, true ownership is experienced with the utilization of Cryptocurrencies. If you hold the keys, you pretty much control what happens within your wallet. This is something that has been built carefully, that by identifying major problems of current monetary systems. Your wallet address being exposed doesn't leave you vulnerable, you are giving an atmosphere to do numerous transactions without worrying about outrageous charges like that of banking systems coming in every 24hrs 365 days.

Sometimes I wonder why bank accounts are so vulnerable to many attacks but no fuckin body ever talks about it, yet, bashing crypto always seems so easy for this institutions.

Posted Using LeoFinance ^Beta