Bank normally is supposed to help people whenever they are in need of cash but nowadays reverse is the case, I don't know if I will say it is because of the government and currently bank charges is becoming something else, whether you do transaction or not they will charge you. Below is the reason I prefer saving in exchange to Bank
For the bank charges, na wetin you get when your president na chief tax collector, for bank helping when people dey in need of cash, bank still dey give loan if you qualify, them dey give business loan, them even dey help you buy some machines you go need for your business and you go dey pay small small
I don see access Bank do that one, but you go get better collateral, so if you no get better collateral for the loan, you gats patronize loan sharks wey go use interest cut your neck.
I feel relaxed and free whenever my money is in exchange because it very hard to get my seed phrase, pass key and the rest of them unlike Bank that someone can just penetrate without Bank sending you an OTP.
You dey mix things up for here, CEX no dey use seed phrases or private keys, na non-custodial wallets dey give am. Dem link your CEX account to your email, so if your email come dey compromised, even the 2FA for the CEX account no go fit save you since the scammer go log you out
of your mail make you no get the code, come take over your account and your funds otilo.
I can remember the last time I had little issue with bank and I was in need of that money, omor I nearly mad because they were frustrating me knowing fully well that I'm the owner of the account. The crypto space has been a blessing I mean it is always available and reliable.
Exchanges fit do you pass Bank if them block your account, na until them finish investigations you go see your funds and Dem fit even confiscate am if you no convince Dem say the funds legit, bank sef better for this matter as e get who you go fit dey worry physically, but for exchange na so so automated message you go dey get from their help desk until them resolve your matter.
The only time you go enjoy freedom na when you dey use non-custodial wallet with your keys or seed phrases intact.