Centralized Savings is more like a past thing also existing in present but change is happening and people are embracing the future so preferring decentralized savings.
Ahead in this blog I'll share which is the way to get financial freedom and better choice based on fact and my own personal preference.
Centralized Savings - Good or Bad Sides
From centralized savings it means Banks where you put money and hold it for longer time. The only Good side of bank I could see is it offers less risk.
Like, I know bank collapse and can fail but they're regulated and also it's insured..
Other than that there are more bad sides I've seen like when you need a large sum of savings urgently from bank. they make excuses ask for ten thousands questions before process and getting your own money back isn't easy at all which is a major flaw in my opinion.
Secondly, Bank makes money from our money while we Get a sum equal to zero like 2% interest they offer on savings doesn't add up anything when they're making "100k from our 10k in bank savings account".
Also centralized Savings mean Banks have Power/authority to freeze your accounts, hold your money or assets in any circumstances which is pretty bad.
Lastly I see, Savings Fiat currency in banks devalues over the time which is more like an upset for me who's saving up pennies after doing hardwork to buy a stuff or whatever and in the end money is worth less at the time when needed that's how inflation impact centralized savings.
These are few reasons I don't choose centralized options for saving especially and it can't be the way to financial freedom since the whole system is working to make them more richer.
Decentralized Savings: The Path to Financial Freedom
There's more than one reason why I consider to save money in a decentralized way first of all it is decentralized and gives me authority and power to have control over my assets and money.
It can't be freezed by someone, it can't be hold for long and no weird excuses while getting back your own money in urgent situation of financial needs.
I believe decentralized savings give more privilege to person like there's not someone middleman getting a cut of money or benefit like bank does.
The Apr comes with it is much higher than what a bank offers and that's one of reason.
It gives us both choices to save in volatility or Stablecoins like HP, HBD is an Ultimate examples.
So, These are the things that makes me feel more comfortable with decentralized option than centralized one.
Wrapping Up...
In the end, it is always better to embrace the future and new technology as the old one's always have flaws like old tradfi do have some which is fixed by decentralized options.
The world is changing pretty fast and going in that direction seems like a better choice.
We all have different choices and preferences and I'd love to know your point of view about it in comments.
