Banks have always been concerned not with the interests of their customers, but with stuffing their own pockets with as much money as possible. These types of institutions have a track record of multitudes of abuses against the simple bread eater, and many times they have also caused him to be suddenly deprived of access to his funds.
I spoke with Karol Venus - an attorney who has been fighting this type of situation for years and co-founder of the "On the Side of the Consumer" program - about why we should not trust banks .
Bitcoin was created as a response to the numerous pathologies in the operation of the traditional banking sector. The collapse of Lehman Brothers in 2008 exposed many weaknesses of such institutions and showed that the saying "you have it like a bank" should not at all be a guarantee that something is stable and 100% certain.
I spoke with Karol Venus during the Invest Cuffs 2025 conference in Krakow. I asked him to point out the biggest sin of bankers that is not being talked about out loud.
- It is definitely the banks' belief in their own uniqueness. Banks are special, bankers tell the truth, after all, a bank couldn't rob you, right? From an early age we are taught that banks are exceptional institutions of social trust and act in the interests of their customers. Well, no, banks are normally operating businesses, they act primarily in their interests, not ours," the lawyer explained.
During our conversation, we also moved on to the topic of investing. In what assets is it best to invest your capital to ensure the security of its value?
- Times are troubled. I would run to something that will not be threatened by direct intervention. If we have a property, when war comes, we may lose that property. Before the war in Ukraine, apartments in Mariupol were a very attractive asset. We should invest in things that we can easily transfer and take with us if necessary," Venus points out.
Such an asset, of course, can be just bitcoin (BTC), which we can take with us to any country without having to report it to any authority or ask for permission.
The largest of the cryptocurrencies, thanks to its decentralized nature and lack of a single issuer, makes it possible for us to be our own bank.
When sending someone a bitcoin to their address via a peer-to-peer transfer on the blockchain, we don't need any intermediaries, which makes the fear of such a transaction disappear:
By the way, it is worth reminding you that at all Bitcoin ATM.com Bitcoin ATM outlets you can make anonymous transactions to buy or sell cryptocurrencies using cash up to €1,000 at a time.
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