AskLeo - What Gives You More Trust, a Bank or a CEX?

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It's been quite long since I used a bank debit card and tbh I don't even know why I still have a bank account these days. I am only using cash, for as long as that will be possible, and crypto. Real anti government, anti banking system weirdo here...

Ever since I got myself that Binance VISA card I have been using it almost on a daily basis and I also got a crypto.com one. You can pay anywhere with them, you get some crypto cashbacks and if you really need cash, there's also the option of withdrawing some from any bank ATM.

Both of these cards come from some centralized exchanges and as most of you have realized that by now, CEXs aren't really that reliable and trustful, neither is DeFi atm, but at least it has the excuse of being new to the game.

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A few months ago I ordered a hoodie from an online shop and there was some error, in the sense that my funds have been taken, or lets say debited somewhere in the atmosphere from my Binance account, but the merchant never received any payment, thus my order hasn't been filled.

I ended up paying with cash for that hoodie that I honestly don't even like too much after all. The idea is that I contacted customers support on Binance and some Indian guy told me my account will be refunded. Not even till this date I got any money back...

That's probably the only significant issue I got with Binance so far and despite not being a perfect alternative to a bank and the usual debit cards that banks offer us, I can say that I trust it more than my bank. I have already gone through the KYC process when ordered the card, thus I don't have anything else to protest against Binance.

What about you, does a bank give you more trust than a CEX atm?

Thanks for attention,
Adrian

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I don't trust either one, although I prefer CEX... Blockchain should solve the trust problem in the long term

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I hope so. Curious to see if and how DEXs will be able to play the role of making crypto a payments currency.

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In the Long term, crypto will be further used as a payment currency, it's a matter of time

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Well, I have not had the opportunity to use crypto cards since they are not available in my country.

But I have used crypto systems to get fiat money in my account, and I can say that I don't like these centralized systems, because with the excuse of being a bridge from crypto to fiat they take up to 20% commission for each transaction.

So far the bank takes 0.3% for each transaction, but the truth is that I don't trust any of them since both are centralized and they don't care about me at all.

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I know I system can't be perfect but I love everything about binance though they use to have some fuck up but it has help me alot and I have met different people in their Nigeria community on telegram.

Binance card is not available in my country but I trust binance more than my bank no question

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