Comment by rs999gti
4 months ago
Traditional banks and the financial industry are generally sub-optimal, but at least if you are scammed, they will do their best to either recover your money or return you whole.
To have this safety, money and finances have to be centralized, regulated, and governed, all of which crypto doesn't have and doesn't want.
> they will do their best to either recover your money or return you whole.
And if they don't, the courts can force them to do it and give you some extra money for the trouble.
No they won't. If you bank transfer money to a scammer, the bank won't refund you, nor can they recover it. If you give a scammer your bank access credentials, they also won't refund you because you broke the TOS.
Not true in the UK: https://www.bbc.co.uk/news/articles/cy94vz4zd7zo
Wow
They may well block the transaction before it's made, for cases like this.