Bank account VS crypto wallet: why choose?

A side-by-side comparison of individual bank accounts and crypto wallets.

Bank account VS crypto wallet: why choose?

Bank account VS crypto wallet: how do they measure up?

When comparing an individual bank account to a self-custodial crypto wallet, there are several factors to consider.

  1. Control: In an individual bank account, the bank has control over your funds. You need their permission to make withdrawals, and they can deny access to your money in certain situations. On the other hand, a self-custodial crypto wallet gives you complete control over your assets. You are the sole owner of the private keys and have the ability to manage your funds independently.
  2. Security: Banks are regulated financial institutions and implement security measures to protect your funds. They typically offer insurance coverage for deposits, safeguard against fraud, and provide account recovery options in case of lost credentials. Self-custodial wallets, on the other hand, rely on your ability to secure your private keys. While this gives you control, it also places the responsibility of security entirely on you. If you lose your private keys or they get compromised, you may permanently lose access to your funds.
  3. Accessibility: Individual bank accounts are widely accepted and integrated into traditional financial systems. You can easily withdraw cash, make electronic transfers, and use debit or credit cards associated with your account. Self-custodial crypto wallets are specifically designed for managing cryptocurrencies. Their accessibility depends on the acceptance and infrastructure of the cryptocurrency you hold. Crypto wallets allow you to send, receive, and store digital assets on specific blockchain networks.
  4. Privacy: Bank accounts are subject to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which require you to disclose personal information to the bank. This information is often shared with relevant authorities. Self-custodial crypto wallets can provide a higher level of privacy as they operate on decentralized blockchain networks, allowing users to maintain pseudonymous identities.
  5. Fees: Banks may charge various fees, such as monthly maintenance fees, transaction fees, and ATM withdrawal fees. The fee structure for self-custodial crypto wallets differs and primarily depends on the blockchain network you interact with. Cryptocurrency transactions often involve network fees, known as gas fees, which are required to process transactions on the blockchain.

Ultimately, the choice between an individual bank account and a self-custodial crypto wallet depends on your specific needs and preferences. Banks provide a long-standing and regulated infrastructure for traditional finance, while self-custodial wallets offer greater control, privacy, and access to the world of cryptocurrencies. It's essential to consider the pros and cons of each option and assess which aligns better with your financial goals and risk tolerance.

Why choose when you have crypto neobanks?

In the ever-evolving landscape of financial technology, crypto-native neobanking apps are emerging as powerful tools for managing both traditional and digital assets. SavingBlocks is a notable player in this space, offering users a comprehensive solution that combines the functionality of a current account with the security and control of a self-custodial wallet. This article aims to explore the benefits of SavingBlocks and shed light on its potential use cases.

  1. Seamless Interchangeability of Fiat and Crypto: SavingBlocks stands out by enabling users to effortlessly manage their fiat and digital assets within a single platform. With a current account and self-custodial wallet integrated into one app, users can seamlessly bridge the gap between traditional finance and web3. This offers the flexibility to interchange assets instantly, allowing for diverse use cases and financial strategies.
  2. Instant Asset Bridging: One of the key advantages of SavingBlocks is the ability to bridge assets between traditional finance and web3 in real-time. This opens up exciting possibilities for users, such as getting part of their salary paid in crypto. By opting for this feature, users can experience the potential benefits of digital assets while still maintaining a connection to the traditional financial system.
  3. Convenient Bill Payments and Everyday Expenses: SavingBlocks empowers users to pay bills, subscriptions, and everyday expenses with the digital asset of their choice. This flexibility eliminates the need to convert between currencies or rely solely on traditional banking methods. Whether it's paying rent, utility bills, or even online subscriptions, users can leverage their digital assets directly, making transactions faster and more convenient.
  4. Diversification and Digital Asset Allocation: The app offers a unique opportunity for users to split their fiat deposits into a basket of digital assets. This feature allows individuals to engage in strategic asset allocation, diversify their holdings, and potentially benefit from the growth of various digital assets. SavingBlocks enables users to navigate the world of cryptocurrencies with ease, providing a gateway to explore new investment opportunities.
  5. Robust Security and Control: As a self-custodial wallet, SavingBlocks prioritizes the security and control of users' assets. By leveraging decentralization and blockchain technology, the app ensures that users have complete ownership and control over their funds. This eliminates the need to rely on third-party custodians, offering a higher level of security and reducing the risk of unauthorized access or loss of assets.


SavingBlocks represents a noteworthy advancement in the realm of crypto-native neobanking apps. By seamlessly integrating a current account and self-custodial wallet, the app enables users to manage their fiat and digital assets interchangeably. The ability to bridge assets instantly between traditional finance and web3 opens up exciting possibilities, such as getting paid in crypto or paying bills with digital assets. Additionally, the option to split fiat deposits into a basket of digital assets allows for diversified investment strategies. With robust security measures in place, SavingBlocks empowers users to embrace the potential of cryptocurrencies while maintaining control over their financial journey.