April 4, 2023 – In a world where financial institutions like Lehman Brothers failed (which was considered too big to fail), Silicon Valley Bank was closed down by regulators who took control of all of its deposits, and FTX hustled its customers and was shut down causing a cascade of problems in the DeFi world, we just MIGHT have a reason to be scared.
The truth is that banks are losing their ability to do what they were meant to do – protect our money and/or help us find ways to grow and invest it. More truth is that the banks have become fee-mongers leading to the use of fintech companies like Chime, Found, and Ally to do what bank accounts are supposed to do without all the fees!
Finding our own way to protect our assets has to be the most important financial goal of people everywhere today.
DeSo (Decentralized Social) cryptocurrency and its member community has helped people begin to figure out how to decentralize their money and accounts.
Think about centralized accounts like this: When we have an account with a bank or business like Coinbase, they give us the account and they "allow" us to operate and interact with other accounts, vendors, and more using their means of money transfer or interest-gaining rules. If that institution or company fails, our money is gone (except for bank buyouts where they transfer your money to other accounts, and/or insurance on the money like FDIC).
Decentralized wallets and profiles are ones that WE control. So we have a profile and we protect our money in a wallet that only we have access to (using seed phrases) and WE CHOOSE who we want to interact with and who we allow access to our funds using blockchain methods that are encrypted but also transparent in that they are tracked on the chain.
How does this help us? That"s a very good question. Imagine earning a wage and putting your money in a place - a wallet - that no one has access to but you. No one is dipping their fingers in for fees. No one is using your money to earn profits of their own, and then offering you a pittance of 1% or less for the privilege of allowing you to bank at their establishment. Wouldn't it be better to earn your own way, and be proud that your earnings are placed safely somewhere without wondering if there will be fees and others using your funds for their benefit?
That's why at MoneyQuest, we're helping to develop a step-by-step method that will help everyone. Artists, musicians, consultants, podcasters, and everyone else who wants it will have a way to earn money for themselves and keep it safe. We're going to show our members how to build their creator coin value up in the best way, set up royalties, and even some methods on how to best market their own creator coin, NFT creations, and products or services. This is an exciting new venture that will take a little while and experimentation to perfect, but it's already working and more will be coming.
In the meantime, we must spread the mission. Let's build up our collective knowledge and share our resources - time, money, intellect, spirit, and action - to keep the MoneyQuest community growing! Using the free step-by-step guide to onboard to DeSo is the first step. After that, keep reading and learning through MoneyQuest.club and tell everyone that this is important and the time has come to protect ourselves!