Why are Banks More Fragile Versus the Self-Managed Samecoin Ecosystem

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Why are Banks More Fragile Versus the Self-Managed Samecoin Ecosystem
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In recent years, more and more people have been looking for a way to have complete control of their money. For a number of reasons, traditional financial institutions have taken a lot of flak. And one of the key answers to this problem is DeFi. Decentralized Finance protocols take control of your money back from large corporations and put it in the palm of your hands.

Samecoin stands at the forefront of the DeFi landscape with a number of useful and innovative features as part of its platform. When combined with the SamePay payment app, users who are new to DeFi can enjoy all of the benefits without having to understand the details, like minting rewards and more. Samecoin and SamePay present a number of benefits for those looking to take control of their money.

One could not only have control of their funds but also earn an income from the investment in the shape of more Samecoin, simply from holding and staking it. While most don’t really understand how all of this works, the SamePay app made it simple and easy for everyone to get started. How does the Samecoin ecosystem compare on a number of different points when compared to traditional banks?

Where your money is held

With the Samecoin ecosystem, you have complete control of your money in your own encrypted wallet that you’ve always got control of. Unlike when your money is held by a separate company that could go bust or restrict your access.

How your money is managed

With Samecoin and SamePay, you control how you spend your money and what you do with it. You can stake it if you want, but you don’t have to. When you give your money to a traditional financial institution, you have to know that they won’t mismanage your funds or lend your money to risky borrowers.

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Speed of transactions

Transfers in the Samecoin ecosystem and with SamePay happen quickly, in seconds. Many banks can take hours or even days to process your payments manually. The markets are always open on Samecoin, and do not follow regular working hours-only.

Restrictions and limits

It can sometimes be hard to get accepted into a bricks-and-mortar financial institution, and there are loads of restrictions in place. Samecoin is open to everyone and easy to get started with.

How transparent are they?

Samecoin is built on transparency and can be inspected by anyone to ensure full security and safety at all times, unlike some other institutions. Certik verified the code of Samecoin and published a report. 

As you can see, traditional financial institutions can sometimes be fragile, and they aren’t always that secure. With Samecoin, all these problems are solved.

Moreover, iGamingGroup endorsed Samecoin ecosystem and the stablecoin SameUSD for integration with the gaming ecosystem.

Samecoin launched its beta application on June 8th, 2021 and it already crossed 2M TVL. You can try it for yourself here.