A customer goes to the fintech he trusts and invests in a product with the euphonious name "Bitcoin yield account".

His digital savings end up in the USA and are frozen there in the course of a bankruptcy.

The only things that end up in the mailbox are letters from the insolvency administrator, compared to which the German tax return forms are still easy to understand.

Certainly, the cooperation between the fintech Nuri and the US crypto bank Celsius was probably not decisive for the bankruptcy of the Berlin fintech.

Nevertheless, the business conduct is questionable, but by no means limited to fintechs.

Just remember that banks and savings banks also referred their customers to interest rate portals.

In the end, the customer deposits that the institutes didn't want at the time ended up at Greensill Bank, for example.

The end is known - the institute became insolvent, at least the private savers were compensated - at the expense of all customers of German private banks.

Sure: the higher the return, the higher the risk – every investor should know that.

But the same applies to fintechs and classic banks: Before you put your customers in the hands of so-called partners, their business model and business conditions should be checked very carefully.

Otherwise, in the event of damage, there is a risk of a loss of trust.

And without the trust of customers, no bank or fintech can survive.