Post
Topic
Board Nigeria (Naija)
Re: What if our entire life savings suddenly became worthless.
by
Tungbulu
on 07/07/2025, 10:03:19 UTC
Bank no be place to leave our money inside our. Apart from the fear say them feat hack am or something bad feat happen to the bank due to how every economy the shake, why e bad to leave money for bank nah be say nah the bank go the make that profit with your money instead of you the owner of the money. As them use your millions do businesses or give am out as loans, nah peanut them go come drop inside your account when month end. That peanut go di make you feel say interest then enter, but you go make more than 10x of that interest if you use am buy bitcoin hodl am for wallet. And you no go get fear of losing your funds since nah you only get access to your pass keys. But plenty people no know this.
Na why e good to only drop money wey you no get long term plans for.

And concerning bank making profits from your money, IMO wetin really matter be say them go give you your money back when you need am, na safekeeping them dey do for you no be invest you invest am. I believe say banks dey also offer ROIs too incase na return or profit you dey find. I know say I come dey sound like say I dey support local banks, maybe yes but no be say I go prefer am to other choices, the truth be say banks them get their own benefits and importance to us, my only problem with banks na too much regulations and the fact say them dey operate under centralised authority which means your money no really dey 100% controlled by you, plus the fact say inflation fit easily chop your money anytime. Asides that, I no really see anything wrong with to keep money for bank because the fact be say banks dey actually do good job to keep money safe.