The governments aren't making things easier for the comfortability of the citizen, if one of the reasons why the microfinance banks which are private and Kuda a low or zero interest transaction fee bank can make the people taste the affordability of every aspect of the economic and financial circumstance in providing individuals and businesses to have an itch free experience in running a day to day transaction without indescriminate deductions from user's account.
Always beware of what is free
Agreed, there might be hidden agenda that benefit them and do harm on users but when considering some difference then we could see that they are more preferred to commercial banks, especially most of the bitcoiners who cannot do without making use of fiat for their local transactions will still prefer kuda then the government institutional banks, of which the overall solution here is bitcoin, a decentralized network of p2p.
But I see people complaining about this transactional fee. This makes me wonder, and would be great if someone from Nigeria could answer because I do not get it really. How is Bitcoin more affordable than a bank, even with this fee
the whole thing is when you have your money with the bank they make deductions in disguise as charged indescriminately, when you perform a transaction as well they take charges, now the complain is that it's too much, they can make 3 to 4 different charges on a single transaction anytime anyhow, the the annoying of it all is called stamp duty, whereby when you receive or make payment from your account they will make charges of about 3 to 4 as said earlier, while banks like kuda will offer you free transaction charges for the first 25th transactions made in a month.
if we consider Bitcoin sometimes has some pretty hefty transaction fee premiums?
this is preferable because before you made a transaction in bitcoin you would have seen the amount to be charged with, also you can customize your transactions fee and take advantage of the mempool if not busy for lower fees even though it may take a little longer to be confirmed.
The problem is how banks work, if there is a bank out there, all of them, every single one from tiny to giants, all work in a way to ruin peoples' lives.
Exactly, you got the point, the more we are trying to become independent from banks the more the government are tracking us back to their system we are running away from, that's why you see many haters of bitcoin has the majority attacks coming from government and the banks they influence.
Slowly they'll be as worst as the regular banks
They have their own strategies they use to deceive users to believe in their services at first just to ensure they were under the coverage of their net trap and this is common in most if the financial system now, they appear to be whom they were not, that's why i thought about the topic of this thread to be "Remain decentralized with crypto or centralized with banks".
But we will not be able to be 100% decentralized because we are actually adherents of government law. A centralized financial system is always needed, we cannot completely avoid it.
In cases like this, among thousands pool of banks we can still have few that can work to a certain extent just like in the case of kuda, if one must use a centralized bank then kuda and few ones may be a best available option than others.
