Quote from: Ambatman on Today at 06:40:00 AM

Quote from: JayJuanGee on Today at 02:14:39 AM

Probably many of us need to try to increase our use of cash in order to attempt to preserve our ability to use cash in the future. For sure, there are going to be ongoing challenges in regards to attacks on cash.. which are easier to perform if so many folks are not using cash.

Depending in the country we living in. It's rare to see an average citizen in my country owning up-to $5(8000 Naira) in cash.
I realised ever since the limitation of cash our reliance on the banking system has increased.
I'd to register to a Fintech bank despite been skeptical in years because it became a necessity rather than an option.

In many countries, using any banking service, even declaring balances and transferring funds, is accompanied by taxes and fees. This causes both banks and the government to receive money from the least amount of people's money.

When many people realized this fact and tried to use cash more, banks also took a countermeasure to reduce the outflow of liquidity from accounts so that people would still use banking services and this way of earning income for banks and governments from the least amount of people's financial cycle is not interrupted.

One of these ways is to reduce the amount of money withdrawn from the account, and even in some banks and countries, this withdrawal limit does not apply to a single account, but applies to all of a person's accounts in all banks in that country.

And it has even reached the point where fees and taxes are considered for cash withdrawals.

Using cash for everyday tasks and even transactions is a great solution, but with the measures that banks and governments take to track this money and collect heavy taxes, there is currently no other solution than using cryptocurrencies to make transactions.

Of course, there is still a need to pay network fees, but these fees are better than having governments and banks monitor individuals' financial status.