With the way inflation and bank charges are eating into people’s money, some Nigerians are now keeping their savings in stablecoins instead of bank accounts. Unlike Bitcoin, USDT doesn’t rise or fall much, it just mirrors the dollar, so it protects against naira depreciation. But then questions come up, can stablecoins really replace the role of banks? What about safety, regulations, and accessibility when someone needs cash quickly?
I don't see saving in USDT as a good option when I can buy bitcoin and hold it so the price can appreciate and i make money. USDT does not appreciate in price so holding it is like you are holding fiat and can be better than holding naira because of the inflation that is affecting Nigeria local currency.
Bitcoin will make me money while still holding@ than USDT that has stable price. Bitcoin should be the one to replace local currency not stable coin.