For some people, the essence of saving in a crypto wallet is for the interest earned. Though that may be one of my reasons I do save my money in crypto, on the other hand, I don't want to be a victim of what happened in 2013 in Lebanon. At that time, the Lebanese government had given an order that citizens should not withdraw their cash from banks for some months; this was as a result of economic unrest in the country. Alternatively, citizens were doing direct transfers amongst themselves, while some were involved in trade by barter.
As time went on, because of the large number of people involved in bank transfers, the bandwidth wasn't able to respond which resulted in network issues.
To this effect, banks were closed down and citizens had to return to conventional trading, which was trade by barter.
Hoping that this will not happen in Nigeria, due of the current economic status.
If banks shut down and paraventure you travel out of the country, you won't be able to access your money in the local bank; but $HBD is accessible and can be withdrawn irrespective of the country as long as #crypto is adopted in that country. Once a country begins to experience financial challenges, there is a probability that the country's currency will be devalued; while it is devaluing, $HBD is still on a stable coin and gaining value in your wallet.
Very simple! You need to first of all create a Hive account so as to save in your $HBD. For guidance and further information, you can drop me a message on:
Email - [email protected]
NOTE: The above picture was designed with canva
