CENTRALIZED VS DECENTRALIZED : A TASTE OF BOTH

Buy the dip!" Haha. Nevermind that. I just recalled when that saying used to be widespread.

I have to be sincere here, so I'd start by saying that, I do not own crypto wallets and never used to understand how it works. I still do not, really well.

Until I joined here and except for a few of my family and friends who own crypto accounts -writing based on how I have seen them operate and what they say about it, in relation to traditional banks- my knowledge on it is limited.

Note that all I write will be based on findings. Let's begin.

Traditional banks have been saving lives for a long time now. But with all of the technological advancements, it's position is losing fronts. Haven used them for so long, I understand how they operate. They work quite well but, an issue I have against them is that, one easily gets required access and assistance when he needs to open an account or deposit money, but the reverse is the case in situations that are not the above. It usually takes drama to get their attention.

Recently, I had to let go of an account because the requirements before I get what I wanted were too many. The, "go and get this, "fill this form," "do this and that," "come today, come tomorrow" was just too much. It was very annoying and I could no longer deal, so, I had to move on.

The centralized method requires I walk into a physical bank and do my thing. And the queues and back-and-forths never sit well with me.

That aside, I'm sure my money is safe in the bank. Might yield little to nothing but it's almost certain I'd get back my principal. But no one cares about that anymore. We've all seen the light. Thanks to Crypto.

Like me, I'm very much the finance girl. Saving is a thing for me but give me something that makes my money yield more and I'm in(not the too-good schemes). And here, crypto comes in.

Now, crypto is not hundred percent risk free. But the services, when placed side-by-side traditional banks, is better. Talk about faster service, self service and an assortment of better opportunities especially as my money yields more(in the long run, too).

If you're a Nigerian too, you already know how our currency depreciates with each waking day. For that reason, when you save in Banks and go back to get your money, it's of far less value.

With crypto, it's quite the opposite. There might be fluctuations but, it's still a little better.

After all this said, I still find that I am a little attached to the traditional banks, maybe because i am better acquainted with it. And maybe when I get versed in the crypto Dynamics, I know gow best to approach a topic as this one.

Meanwhile, I'd like my savings both ways. And for that, I can split them up and enjoy the benefits of both worlds because whether centralized or decentralized, they serve the purpose.

Thanks for gracing this post.
Greetings!