BANKS VS CRYPTO WALLET
Even though they are some limitations to the blockchain due to its decentralized nature, most times I do wonder why some countries or government frown at decentralization and restricting their citizens from having a swift operation with the blockchain tokens but well, i believe there is a good reason for this action but despite all this, decentralization will continue to be my most preferred medium to save up my assets.
To cut a long story short, hive happens to be one of the best decentralization ever where you earn 20% of your savings back annually and that is one you would never find anywhere else but aside from this, let me share with you some of my personal reasons why I prefer digital currencies like blockchain tokens more than governmental approved banks.
Firstly, the bank would never give out certain informations to you due to some security reasons best known to them which is good not to expose a person's personal information, this is where i love the blockchain as no one is mandated to fill in personal informations on the chain and every transaction can be traced with just a few clicks on the chain.
Secondly, my country has really thought me a lot in the past few months regarding cashless policy. I learn that as long as your money is secured by the government, then the government actually owns your money and would fully decide how should make use of it despite being your hard earned money. Whereas in decentralization , blockchain operates transparently and you have full control over your earnings and chose to use them whenever and however you choose to.
One funny reality about cryptocurrency and fiat currencies is the transition from decentralized to centralized whenever you want to convert your blockchain tokens into physical bills and spendable cash, you then need to make an exchange by selling your tokens on a pair to pair medium with another decentralized user who is willing to offer you a token you can easily convert into your local currency that is receiving fiat currency in exchange for your cryptocurrency.
If only the blockchain tokens would have a physical cash that or in form of paper bills that would be acceptable as a legal tender like the centralized paper bill notes and coins, then I assure you that decentralization will outrun centralization in the nearest future. But i guess these limitations of the blockchain is also part of what makes it decentralized anyways.
My points are not to disqualify centralization as they also have a whole lot of benefits and advantages over decentralization but rather i was pointing out my personal opinion why I choose saving and transacting on decentralization rather than centralization.
Thank you so much for your wonderful time i would also love to hear your own part of this contribution in he comments section but until then, do have a great day.
