BEWARE of Fintech Apps! (Podcast Episode 155)
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- Опубліковано 7 чер 2024
- Fintech apps are a great invention, but yours is probably in bigger danger than you think it is. They're almost always tied to a bank, and it's often a very small bank you've never heard of, making them only as strong as their weakest link. In Episode 155, we discuss which apps this affects and what you should be doing about it. Protect yourself.
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List your banking setup below. Are you at Level 1 yet?
2 banks in my home country, one in the big 5, one relatively new doing great things. Wise for foreign currency, TWT for crypto, no bank in another country.
Good setup. Check out remote bank openings as well, they do exist if you can't travel or get a 2nd residency.
And BTW contrarians, if you are looking for a remote bank opening, go to part 2 of the Prepper's Checklist episode and click on MyLatinLife's link. He has strong hookups to Panama, Uruguay and many more.
2 out of the top 3 banks in my home country, as well as 2 digital banks. 1 out of the top 4 banks in a country of residency. Wise for forex transfers. Just joined Revolut. Looking at bybit next.
Elite
3 day into my short on AUS/JPY Who's with me? Love the content VP. Haven't wrote this much down in years. Your content is Au
VP, thank you for this topic. Actually, I knew very little about fintech, however, having insight into the long-term usefulness (and danger) is valuable. You've given us a fabulous starting point. Enjoy Mexico. Again thank you.
Hi VP! Quality content i've been following you for some time now. Can you please confirm what microphone you use your voice is really crisp and clear :)
Blue baby bottle mic. Not even that great but travels well.
Been following since day one
VP, Thank you for info. Bank of Baroda is Indian bank possibly due to cofounder Baiju Bhatt from his native state..
any formula and benchmark on to calculate whether a bank solvent or not?
No formula that I know of, but Fitch ratings are a good starting point.
VP, what's your opinion on credit unions? I've been with mine for many years and never had an issue.
Bullish. They don't do many of the insolvent things banks do. I would still absolutely diversify though, credit unions are typically quite small.
Les go!
I though Wise was going to be in the top 10 list.
Good app, and banked mostly by strong banks. I said before if people want to use them as another bank, it wouldn't be the worst idea.
@@NoNonsenseForex They dont allow crypto transactions last time I checked. Trading 212 is a up and coming one in the UK. Similar to RobinHood. Mainly for buying stocks but also offers banking/card services. Daily pay outs currently at 5.2% per year. You can also lend your shares. Uses well known big banks too.
Hey VP, what's your opinion on tokenized real estate ?
We're at least one cycle away, probably two
Hey VP,
What is your take on Blueberry Markets' changed regulations? They have only been regulated in Vanuatu since January!!!
They're getting out from under the ASIC net.
Hey VP if you were an African precisely Nigerian with limited options out there due to your home country, how possible is level 1?
It's too hard for me to say, I don't know the limitations out there. Fintech is probably a good way out if you can manage it.
Hey VP, what do you think of moving to Thailand? Recently there’s an introduction of a visa specifically for digital nomads. Is it a good place for people like us?
There have recently been some changes going on there, you may want to look into it. Lots of nomads do go there however. Very cheap.
@@NoNonsenseForex Yeah I’ve watched your Financial Preppers video. But I’m all the way here in Asia so I wouldn’t go all the way to the west for the preps 😂
Solid banks out there, I do know that.
How should I handle the military if im obligated to go to the military
No idea bro
I'm missing that 2nd bankster in another jurisdiction.
There are some remote options FWIW. Even easier if you're non-American, but far from impossible.