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When you put money in the bank nowadays, you usually LOSE money
Morgan Simon
Crazy things are happening now in the banking sector, daily or weekly bases we do hear news of customer money going missing or bank workers laundering money or stealing users details in or way or the other, our money in the bank isnt safe anymore, if it isnt stolen, it will be huge monthly charges. Using my country bank as a case study, there have been negative news about the banking sector lately and the recent happened some weeks ago when some banker went ahead to duplicate users Atm cards and stole close to 874million naira within days, I was shocked and didnt believe it till i saw the news.
Goodnews, they were caught and charge to court but I still wonder how such could happen in a bank that promised safety, well nothing is safe as long as people are in control of it. If you decided to save some money overtime, you wont really be in profit but might be in deep loss, even thou there are little apr attached (the highest here is around 3%) but the debit fee attached to it, is enough to take away the little profit
Are Stable Coins Any Better?
A stablecoin is a digital currency that is pegged to a fiat currency or gold or even precious stones.
The beauty of stable coins help and save a lot of investors during the pump and dump season because stable coins rarely experience high volatility and most times they always stay at their pegged price. This is far better than saving in the bank, back in the days we really dont have any way to make money with stable coins but though lending and even where to stake them are not that available but we now have different single staking option where you can earn some certain apy as profit.
On a long run this is really profitable with minimal risk instead of using a bank. There are lot of stable coin option with their benefit, HBD for instant when saved can give you around 12% APR currently which is really fair and HBD price have been stable in price recently, we have Busd, Usdt single staking on binance that can give you some juicy apr too, but the general rules apply (The more staked, the more profit).
You should check out the real juicy advantage why saving in stable coins have over bank savings or what do you think, will love to hear your feedback.
Hello @valchiz
Saving in stable currency is necessary, because it is a way to protect ourselves against volatility, it is a way to back up gains, in short, and they are not going to charge you anything for having usdt or busd in Binance or Metamask, for example.
The option you are talking about in Hive, saving in HBD is a very good way to do it, you use Hive as a savings cue that generates real interest for you. That's great.
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It is always advisable to save in stable coin. I mean, with the policies of bank over time, you cannot put your 100% trust on them. So this is why stable coins are needed.
Nice piece buddy
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@tipu curate 3
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Upvoted 👌 (Mana: 0/1) Get profit votes with @tipU :)
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