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 Agree with you on this, right now in Nigeria the government has introduced series of policies which aren't really consumer friendly like they claimed in the first place, for example, the electronic transaction charges which includes all online financial transactions Such as transfers, airtime purchase, withdrawal etc, and I believe the people are beginning to get fed up with these unreasonable charges which only drains their money and by the look of things they might opt for other options to save, preserve and invest such as Bitcoin.