Which Is The Better Way To Save Money: Stablecoins Or Traditional Banks?
The creation of wealth has been a fundamental aspect of human development for thousands of years, and continues to this day. Everyone wants to better their future, as some believe that it is better to work towards a bright future than live in the present, which I agree with, because if there are no plans for a better future, the probability of having a better future will be down by 10 per cent. There comes a point in everyone's life when we sit down and think of our finances and how they can be increased in the long run, and this is where many people start with the idea of saving their assets.
Saving assets is one thing but getting more value for those assets saved is on another level. It has already been known to us that traditional banks have no real value for our money, as most of the time the assets just sit there waiting to either be pulled out or to be added to increase their value. Traditional banks here in Nigeria are sort of money-grabbing institutions because they actually add no real value to many people's assets being stored in their facilities, and I can attest to that because I have not gotten any interest on any of my assets that have been in a bank since I created one about 7-8 years back.
The traditional banks instead of adding value just tax and remove fees that are questionable for no valid reason, and this is why more people choose not to leave their assets in traditional banks anymore, but rather in their crypto wallet as there are no deductions made in your wallet no matter how long you intend to leave the assets in the wallet. It has now become more of a norm to not keep money in traditional banks except only when the funds are needed, and even as that, we are already seeing some stores accepting payments with crypto, which shows how fast and innovative crypto has evolved over the years.
Now many of us know what stablecoins are in the crypto space and how beneficial they have been for many of us in the crypto space. Stablecoins are the best way to secure your assets, whether it is for a short-term goal or a long-term plan. They are the best way of safeguarding your assets and also give more value when being saved. HBD here on Hive is a good example of how stablecoins function, as once you put your HBD into savings you get 15 per cent APR. This is the kind of value stablecoins bring and most people outside of Hive don't know how valuable this fixture is and how it can be essential for saving their assets.
Stablecoins are becoming more essential even to some countries' economies. There is news that Japan plans to create its own stablecoin, which is good news as it will get more people within the country into crypto. Traditional banks are slowly losing their value, which is why some countries that are not crypto-friendly are imposing taxes on accounts affiliated with any crypto activities, as they feel cryptocurrency is the cause of their currency losing value in the market instead of looking at the big picture and finding ways to integrate cryptocurrency into the economy to it beneficial for everyone.
In time we will see more and more people dump traditional banks and move into crypto wallets and hold more stablecoins. So, guys, that will be all for now. Thanks for stopping by and have a good day.
Posted Using INLEO