Who wouldn’t want to have access to his or her money anytime they want it? I guess no one because keeping money in the bank doesn’t give us full access to our money.
Crypto has made most transactions easy and it has given most of us access to our funds whenever we need it compared to fiat that we would go through some process to access what we kept in the bank.
I remember when I wanted to pay for my shop, I tried making transfer to the landlady and the bank app keeps telling me that the money was too much that I have to make the transaction from the bank to be sure I am the one that wants to make the transaction. I didn’t have a choice than to go to the bank which was quite far from where I was to that day, on getting there I had to queue and when it gets to my turn I was asked for my signature even after seeing my face on their system, I was pissed that day but I don’t have a choice since I needed my money.
I also remember that this same money was in crypto before I changed it to fiat without no stress of signature or Face ID before I could access it. So based on my experience with the both fiat and crypto I would rather choose crypto world but looking at how much people don’t know about cryptocurrency I think crypto world can’t work.
It is not everyone that has the knowledge of operating phones, systems and so on, even the so call online transactions some people don’t know how to do while some don’t want to have anything to do with it because they believe they can make mistakes while doing it and some believe that the charges will be too much for them to sacrifice.
Last month, I was trying to change some kitchen appliances and I went to the market to get them. I never bother asking the woman selling it if she would take transfer or not since most people now take it, so after packing the stuffs i bought I told her to give me her account number and she told me to get the cash that she doesn’t take transfer. I asked why and she said she just don’t want it and I knew it is either she doesn’t know how to operate her android phone or because of the charges on the transaction.
Such people wouldn’t make crypto world easy for us because they would blindly reject anything that has to do with online transactions especially when they don’t even understand what is written on their phone screen.
Meanwhile, the government would take advantage of that to fight against the crypto world since they still want to access our funds for us and those old people would go for the government choice because they don’t understand crypto currencies and for the fact that they can see their money in numbers they believe that is the best way.
The crypto world can never work out, most especially here in Nigeria; it will only cause chaos and misunderstanding among people who know nothing about it and the ones who have an idea about it. There was a time I mistakenly sent my coin to another account while trading on Binance, and I couldn’t retrieve it back. Imagine if I was trading it for someone or teaching them how to trade; I am sure they would think I know the account owner because they don’t understand what I was doing, and that would cause trouble for sure.
In a nutshell, I would have preferred the crypto world, but I think it will only cause problems for people, most especially here in Nigeria, because once people don’t understand how the trade is being made, they will believe it’s a fraud.