Libertas Primordium on Nostr: Because you still have to bank in the fiat world from time to time... It's worth ...
Because you still have to bank in the fiat world from time to time...
It's worth knowing that some of these FinTech startups are a lot more robust than the traditional banks.
This is because they maintain cash accounts for their deposits and don't issue loans.
I send the bulk of my income to Varo Bank for this reason. Their only credit risk is a micro loan program where they let customers borrow a small balance for up to 30 days. They only offer this program to customers like me who direct deposit a large amount every month.
Your traditional banks are taking your money and loaning it out over and over again. They are highly leveraged. Put the money that you need in order to interact with the fiat world in a bank that doesn't loan it out.
It's worth knowing that some of these FinTech startups are a lot more robust than the traditional banks.
This is because they maintain cash accounts for their deposits and don't issue loans.
I send the bulk of my income to Varo Bank for this reason. Their only credit risk is a micro loan program where they let customers borrow a small balance for up to 30 days. They only offer this program to customers like me who direct deposit a large amount every month.
Your traditional banks are taking your money and loaning it out over and over again. They are highly leveraged. Put the money that you need in order to interact with the fiat world in a bank that doesn't loan it out.