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Nigerian Languages / Re: cryptocurrency involvement: CBN Ban Monipoint Opay Odas to Register New Accounts
« on: Today at 04:25:34 PM »Why is the government trying to build our confidence in banks when we know that banks are only there to extort us and deprive us from our funds and freedom. I went to the bank recently, and I wanted to make withdrawal, and the cashier said that I can only withdraw 30000 Naira out of 100k. I see the reason why they are against cryptocurrency because they have seen that their banks are failing and that soon the youths will keep most of their funds in cryptocurrency.If the deposit insurance for people that have 1 billion naira is 1 million naira, that means the deposit insurance for those that have 1 million naira will be more lower and can not be more than 1000 naira if we remove the three zeros as in the division. Maybe I am wrong I am not wrong I do not know, but I just know that I can not keep more than the amount I want to spend for the month on naira account. Cryptocurrencies are better.It sounds more like the banks are at a disadvantage because they have to pay more than before to their customers who have deposits in the bank, since the deposit insurance has increased. The government may be trying to increase the confidence people have in depositing their money into banks, but I still do not think it's advisable, as you should only keep the amount of money you are okay with losing to banks in banks, and keep more of your investments in bitcoins or other assets.