In this present century,21st century to be precised, there is no how conservative you want to be you must put your money somewhere as savings or whatever the banking system calls it. But that being said, don't let me talk about people outside of Nigeria. Let me focus my attention on Nigeria system alone. We have a lot of people in the urban area that are not really making use of the banking system because of their way of life has not really welcome the use of banking system. But in the rural area where the economy way of life needs the banking system to business transaction and the likes; how is the banking system treating us?
What's my personal experience?
I can't categorically castigate the banking system because they have their own advantages but their advantages are way less than their disadvantages. The way the banking system devalue our savings is so annoying and unbearable to cope with. Charges after charges and many more like;ATM card maintenance fee, SMS alert fee, VAT charges, overdraft fee, monthly allowance fee and many more. Such that if you have deposit of #10,000 Nigerian currency,by month ending the value of the money would have reduced from that amount to maybe like #8,950 while #1,050 must have been deducted for different banking system charges. All of these charges devalue the amount in your bank saving account.
Is it for these reasons why people now prefer saving their fiat in the cryptocurrency saving?
If we are to ignore the unbearable part of the excessive deduction fee by the banking system. For the fact the banking system is controlled by FED is the reason why most people prefer to have their wealth in the cryptocurrency saving. Moreso, they also have the chance that the value of their portfolio will increase unlike bank saving that it's other way round.
To say the least, the cryptocurrency saving makes your transaction easy without any intermediary and no unnecessary charges fee on your wallet. So if you take your time to ask many people,they will prefer they have most of their wealth in cryptocurrency investment than having bank saving.