Everything that has advantages also has disadvantages, people trend with what is in vogue
Source
Having a crypto wallet is a good idea in this modern generation, it always helps to have savings which can be profitable and valuable in the future, A friend of mine persuaded me to invest in Bitcoin when it first started and was still selling at affordable prices, he told me to have the wallet but I declined that I do not need it, he invested in Bitcoin that year and forget about it but I was so mindful of my purse and I want an immediate investment which will yield in less than two to three months.
Now we call him lord of crypto because he's making a lot of money from crypto and he is doing well for himself but the disadvantage I see in it is that when the value drops my friend is always depressed, and we all know that not all coins are stable, the stability varies it can rise now and in the next minute the value is down, I only advise people that can bear both the loss and gain, not advisable for a person with high blood pressure at all. Another disadvantage of having a crypto wallet is that people are using it as an avenue to defraud others, and the rate at which scammers scam is too alarming on the crypto wallet. So
before you can have a crypto wallet you must be smart and have someone as your mentor I mean someone that is into it before you that has full knowledge about it.
I have had a series of encounters at the bank, deducting money unnecessarily or charging for what you don't know, banking in my country is very stressful, it can frustrate the living life out if you, I had an altercation with one of the customer service representatives some months ago that led to shouting in the bank, why can't I have access to the money I deposited in your bank, why is it call a bank, I shouted at the lady which makes the bank manager intervene and apologized for her misconduct.
A series of things happening in the bank, the bank can not be trusted most times, and the bank system can be down which can lead to irregularities, for instance needing cash urgently but the network is down from your bank, that is one of the major problems we are facing using banks in Nigeria.
I have been longing to have a crypto wallet but I can't because I do not have anyone to put me through it, my friend traveled out of the country so I don't have much access to him like before, I wish to invest in cryptocurrency but the fair of not falling into the wrong hands has been my concern.
In my opinion, I prefer centralized as my method of savings, I can easily move directly to their banks and lodge any complaints I am facing but how can I do that when I am using decentralized, I know I can shout at them in the bank if anything goes wrong with my savings, but how can I do that with cryptocurrency, we all have our views so to me I prefer centralized method of saving.
This is my entry for this week's episode of #hl-w72e2
Definitely your points about logging a compliant can also put tension on the integrity of the bank if they don't oblige to your request. You can decide calling them out on social media and everything will be rectified. For crypto, you are definitely on your own
True point, on your own
You have presented many vital points. Both have their perculiar pros and cons.
Yes, they all have
It's good you opted for that which you understand better. Personally, I believe wallets and crypto trading should be done by yourself and not via third parties. This is where your knowledge of it comes in. Saving, staking, trading etc... All these knowledge would help you to decide better what you should do with your funds
No matter what you still need someone to put you through, you can never invest in anything you know nothing about. Thank you for your support
You're welcome
I also prefer the centralised method of savings for now till I have the full knowledge of the cryptocurrency. I can't have hypertension cause of crypto🤣
My dear true talk, I can not harbor depression
At all🤣
Yes oo, one man's food is another Man's poison