The international banking system is based on the trust that we citizens give it, believing that our deposits are backed by the State. But that is precisely the problem: all that trust we place in them.

We have the idea that central banks will protect our money and prevent the currency from devaluing. But the reality is different. Money is worth less and less, we cannot withdraw our savings due to bank closures, and then there are banks that, due to bad investments, go bankrupt and leave depositors with nothing. They lend large amounts, creating liquidity bubbles with only a fraction of their reserves, and charge us very high commissions simply for having an account with them.

These are some of the main reasons why many people look for alternatives to save their money. Before, the options were gold, silver, art, and especially real estate.

Cryptocurrencies were born as another alternative to control our wealth, a space free of governments and institutions that could manipulate, manage, and basically take over what is ours. The idea is to give users control over their wealth. It sounds great and, honestly, it would be great if one day it becomes a reality. But of course, governments, financial institutions and everyone who controls money see this alternative as a threat to their interests.

That is why they try to regulate them, impose mandatory rules, all with the intention of controlling cryptocurrencies. But before cutting back on people's financial freedom, wouldn't it be better for banks to guarantee that they are not going to create money out of nothing as they do now? That money does not lose value year after year, or that they do not give credit without guarantees.

They attack the crypto ecosystem saying that it is not safe, that there are no laws to control it, while giving misleading information about the state of their own banks.

The leaders of large national organizations come out saying that the banking system is solid, that deposits are safe. I heard that song back in 2008, and things didn't end well. Why would it be any different today? We have more public debt than 15 years ago, the purchasing power of families has fallen, and, above all, confidence in the system is at its lowest point.

I'm not saying that the banking system is going to collapse, but I don't think it's exactly "healthy" either.

Thanks to "Satoshi Nakamoto" and all those who believed in cryptocurrencies from the beginning, today we have an alternative to the traditional banking system. It has its flaws and its virtues, but over time we can create a new form of freedom: the freedom to decide our own economic future.

I first published this article on the Coinpayu website in its articles section. That section no longer exists.