With bitcoin, you have full control.

[Zanab247]

The kind fear people use to have wen hodling money in the bank has reduced this days op, because dey have find good network BTC and safe wallet u can use to hodl BTC for long years without having the fear of disappear from your wallet. E be na say I hear that story from one popular radio station, but I don't no whether all those things dey wetin make first bank change their name and the information has spread all over the state in the country.

With BTC u don't need to be afraid of people no wetin dey your wallet, because u have the key to access your wallet to no how much u have in your wallet without contacting people to help u. I guess this is what is making bank official to scam some bank users because dey always help many bank users to check their personal details in the bank which is an easy way to gain access to people money in the bank.

[Y3shot]

This is very common that I always experience all the time, sometimes if I try to but some airtime from my bank i get debited but I don't recieve any airtime and if I don't make any complaint the money won't be reversed again. Bitcoin is just the best,  doing transaction with bitcoin you won't experience anything like debited fund and it won't get to the destination.
Many have lost their money in the bank trying to save up but if this money is being save in bitcoin one will always have control of his or her money whenever it is time to use the money.

[Marykeller]

The banks we have in Nigeria have failed us many times; they are not to be trusted with our money again because they now use our money to do business and enrich themselves with unnecessary charges they have all learned to be doing to their customers regularly.

Funny enough, the naira we do save in banks is losing value; the bank officials don't seem to understand that Nigerians are not happy about that, the money they labor for and save in the bank has lost value, and banks are charging them for simple services they render like transfers, maintenance on weekly basis.

[sotelorene]

I think some banks are still doing this kind of shit even till now but in a low key, me personally I am fucking tired of bank wahala, if you receive money charge, if you withdraw charge and even you don't withdraw anything charge there is one they charged me I wish I can remember this thing, it was so annoying. Waiting some banks they do now be say them go first comot better money for your account if your money long and when you receive debit alert come go meet them, them go tell you to either fill some documents or they go tell you to chill and the reason they are telling you to chill is to check if you are serious to get the money back and once they notice you are not serious they will achieve it but if you are serious they will do as if they are working on something and later they bring it back.

[Igebotz]

Saving your money in Bitcoin is the best because there is no deduction and worry of anything.

Yes, But don't forget how difficult it might be when the network is congested and you have to pay an excessive fee for a single output.  Saving in Bitcoin is valuable, but don't let anyone gaslight you to not save some money in a bank.

Bitcoin Whales, Craps, Octopus, and the rest all have active local bank accounts.  Bitcoin is not legal tender in most parts of the world, thus only cash and banks can save you..

[SmartCharpa]

Many people see banks as easy way they can save their money because whenever they feel like withdrawing money and get bank issues, they can go to the bank officials and talk to them eye to eye, some people believe on something they can discuss physical before they can have peace of mind that their money dey safe. Moreover, I start losing mind for anything that concern saving money at bank since 2022, I was about to pay my school fees 4 days before my exams and I was debited while cafe man didn’t receive any alert.

However, I was asked to go to the bank to explain my issue, after I went to the bank and met the officials I was told to wait 7 days before I got my money back and it was 4 to my exams. I have no choice but to borrow the money from someone and after the 7 days dem refund my money back, I no dey try anything like saving in the bank again because they can’t disappoint you when you need the money urgently.

Perhaps, in the future but for now, I no want anything wey go add me with bank issues. Even the banks that we are supposed to trust have turn to a thieves, if we even save in bitcoin and get scam, we might believed we have fallen into the wrong hands, but banks that we completely trust with our full chest to keep our money are also scams.

[Jegileman]

There was a time I made a transaction through my GTbank master card to order an item on Konga, the transaction failed. I called Konga, they told me the money is with GTBank that I should go to the bank. I went to the bank and I was told to fill a report form which I did. I did not get refund back. I went to the bank two times. It was ₦5960 but that was 2012.

There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently. The one I read about 2 days ago but surfaced on the news 10 days ago shocked people. You can watch it here:

https://youtu.be/bMDO89sArdU?si=05hHenX9T1y-BLPl

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

I have read in recent times, like end of last year how banks steal people’s money especially if the person is deceased and the family does not come to claim the money in the account. Even when you have your next of kin information in a bank, it is not a guarantee that they will contact them after your demise to give them the money, they’ll intentionally hold on to the money and if you’re not one that is very rugged, they may deny that the person never saved money in their account and they will just keep it to themselves.

I read in a news when a woman reported to social media activist VeryDarkMan to call out Access Bank for denying to have in possession some amount of money (in millions), the deceased brother left in the fixed deposit of the bank. The brother gave her information on all banks he had savings with, so she was following up those banks up to collect the deceased brother’s money. How Access Bank was denying her access to the money was how one of the banks she was following up did but after she threatened them, they gave her the money.

Now Acesss were proven hard and still saying he doesn’t have money with them in which he has the largest amount of deposit there. I don’t know how the story ended but that shows how banks are the thieves we thought they can keep out money safe with. No matter what happens and how secretive we want to be, we should allow our loved ones or more importantly next kin knows where we have money with so that they can claim it when we are no more. The wealth is better off used by your loved ones than being used by the banks for their selfish desires.

[Dailyscript]

The kind fear people use to have wen hodling money in the bank has reduced this days op, because dey have find good network BTC and safe wallet u can use to hodl BTC for long years without having the fear of disappear from your wallet. E be na say I hear that story from one popular radio station, but I don't no whether all those things dey wetin make first bank change their name and the information has spread all over the state in the country.

With BTC u don't need to be afraid of people no wetin dey your wallet, because u have the key to access your wallet to no how much u have in your wallet without contacting people to help u. I guess this is what is making bank official to scam some bank users because dey always help many bank users to check their personal details in the bank which is an easy way to gain access to people money in the bank.

How you expect say people go fear wey be say e get people sef wey never touch their local bank app for sometime now. Wallet bank and crypto wallets now weting they reign these days. And e dey give you full control over your money. If you wan pay for house or buy car now now na simple something for you. Just enter your crypto wallet send am to exchange then trade the exact amount to fiat wey u want directly to ur wallet bank like opay or kuda straight up you done pay. Me i no dey stress my self again na these steps i dey always use.

[Cryptomultiplier]

There was a time I made a transaction through my GTbank master card to order an item on Konga, the transaction failed. I called Konga, they told me the money is with GTBank that I should go to the bank. I went to the bank and I was told to fill a report form which I did. I did not get refund back. I went to the bank two times. It was ₦5960 but that was 2012.

There are many news that I have read online that people will voice out about how bank want to scam them. But if we can see many news like that, how many would have happened that these banks officials have stolen from people. It happens frequently. The one I read about 2 days ago but surfaced on the news 10 days ago shocked people. You can watch it here:

https://youtu.be/bMDO89sArdU?si=05hHenX9T1y-BLPl

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

I have read in recent times, like end of last year how banks steal people’s money especially if the person is deceased and the family does not come to claim the money in the account. Even when you have your next of kin information in a bank, it is not a guarantee that they will contact them after your demise to give them the money, they’ll intentionally hold on to the money and if you’re not one that is very rugged, they may deny that the person never saved money in their account and they will just keep it to themselves.

I read in a news when a woman reported to social media activist VeryDarkMan to call out Access Bank for denying to have in possession some amount of money (in millions), the deceased brother left in the fixed deposit of the bank. The brother gave her information on all banks he had savings with, so she was following up those banks up to collect the deceased brother’s money. How Access Bank was denying her access to the money was how one of the banks she was following up did but after she threatened them, they gave her the money.

Now Acesss were proven hard and still saying he doesn’t have money with them in which he has the largest amount of deposit there. I don’t know how the story ended but that shows how banks are the thieves we thought they can keep out money safe with. No matter what happens and how secretive we want to be, we should allow our loved ones or more importantly next kin knows where we have money with so that they can claim it when we are no more. The wealth is better off used by your loved ones than being used by the banks for their selfish desires.

There was an old man I once met in Lagos who also had a similar issue with UBA bank then.
What happened was that whenever he goes to withdraw his money with the help of his bank manager, he would sign and fill the check in front of the manager who is rendering assistance to an old man. It wasn't long the manager started faking his signature and using it to withdraw the old man's funds because he didn't have anyone as family to assist him with such delicate thing as filling a check and cashing it out like everyone else on queue.

The Naira is really depreciating in value very fast and with the way bank staffs are acting indisciplined and stealing from accounts unsuspectingly, cryptocurrencies investment mostly DCAing BTC has assured one of wealth that could be easily transferred to the next of kin in cases of demise or sudden tragedy.
 The personal banking idea that Bitcoin marked as a success currency has opened so many other opportunities and it's a world of its own for real.

There's no fixed deposit issues or bank manager stealing or bank staffs  claiming deceased money issues with crypto currency and a secured cold wallet and good amount of BTC in it over time could be a heirloom to the next of kin without much notice from others not within.

[Coyster]

I know plenty people wey lose their money like you did, dem go bank tire, in the end them just forget the money. The bank is in control of any money wey you deposit for bank, just as centralized exchanges dey in control of any coins wey you deposit. That being said, that is why we have bitcoin, so that we go get control of our assets, but make we no forget say na only bitcoin wey dey for non-custodial wallet wey we get control of, if you put am for custodial platform, e be like when you put your money for bank.

[Btcdeybodi]

Saving your money in Bitcoin is the best because there is no deduction and worry of anything.

Yes, But don't forget how difficult it might be when the network is congested and you have to pay an excessive fee for a single output.  Saving in Bitcoin is valuable, but don't let anyone gaslight you to not save some money in a bank.

~cut out~

Apart from network congestion and high transaction fees, we should remember that bitcoin is volatile in nature such that if you store all your money in bitcoin and the price drops it will become problematic if you needed money to attend to an immediate need so it will be better to also save some money in the bank then any amount you store in bitcoin should be left for a longer period of time without touching it.

We should know that it is not really easy to avoid being scammed both online and offline so the remedy will be that if you have Fiats, make sure you split them in different bank accounts. If you have bitcoins, also open a lot of wallet for it so that if one gets compromised, others will remain untampered.

[Ever-young]

Saving your money in Bitcoin is the best because there is no deduction and worry of anything.

Yes, But don't forget how difficult it might be when the network is congested and you have to pay an excessive fee for a single output.  Saving in Bitcoin is valuable, but don't let anyone gaslight you to not save some money in a bank.

Bitcoin Whales, Craps, Octopus, and the rest all have active local bank accounts.  Bitcoin is not legal tender in most parts of the world, thus only cash and banks can save you..

Yeah, we can’t always rely on Bitcoin for everything, Bitcoin is undoubtedly the best option, compared to banks and fiat, when looking for a store of value, But that doesn’t mean that it doesn’t have its own limitations. There are definitely situations that we’ll have to turn to fiat, especially when it involves certain micro transactions. Just as you’ve rightly said, Bitcoin TX fees can sometimes become so exorbitant that you’ll end up paying more if you wanna spend less Bitcoin.

[Donneski]

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I am surprised that someone can hold ₦500 million in fixed deposit but he is not a young person but an elderly man which we should expect something like that.

You can lose bitcoin also through scam or wallet hack, but they are very easy to avoid if you read about it. Naira that is depreciating in price.

The truth is that most of the advanced in age people find it extremely difficult to invest their money in Bitcoin because of their ignorance and half knowledge about the best possible means of safely investing your assets. They generally believe that Bitcoin is a scam zone and because they totally understand how the commercial banks are being operated, they find it safer. This isn't the first case that I've read or witnessed about people losing hide amounts of money they deposited with some the Nigeria commercial banks.
It's very possible that one can lose their money in Bitcoin when their wallets are hacked but when you're security conscious and follow the right procedures, your assets will stay safe for as long as you want it to be.

[DubemIfedigbo001]

The man noticed ₦55 million was lost from his account. He investigated and noticed that the money was stolen by bank officials. That pissed him off and wanted to terminate his fixed deposit of ₦500 million. He was told that the money has been withdrawn. He sued FirstBank. They stole his money.

I'm not surprised at all reading this, bankers steal a lot and the extent they can go to orchestrate those mischiefs can be very alarming. Maybe they thought the man was dead and started withdrawing his money since possibly he doesn't have a next of kin linked to that account.

A banker friend of mine told me that one of the reason bank managers read newspaper every morning is to know if any of their whale clients without next if kin is dead so they would withdraw the money without trace.

It's always annoying that simple problems that banks can resolve for you immediately, they would turn you like football until you lose hope and stop coming for the issue and then your disputed funds would be theirs, this is why Bitcoin is the best way to invest funds that you don't need immediately since you'll have total control over your funds without having to deal with middlemen excesses.

[Richbased]

I have also had the same experience as that of the OP and it is frustrating when your money in hanged after performing a transaction in an ATM machine and some times what causes such experience is when there is no cash in that particular ATM machine. I know how i frequent that bank for my money to be restored but to no avail but what i did then was to call their head office and they asked me some security questions which i answered and my money was reversed why i was still on call with the customer care. What happens in situations like that could be that your report was not submitted by the customer care so sometimes when you are experiencing a challenge with your bank just put a call to the head office directly and they will attend to your complaint immediately.

Saving our money is bitcoins is good but we can never do without the bank or banking apps for now, at some point you will still need them so what you should be concerned about is not giving your security information to those bank cashiers because some of them are dubious in behavior and can use it against you.

[Callido]

Saving your money in Bitcoin is the best because there is no deduction and worry of anything.

Yes, But don't forget how difficult it might be when the network is congested and you have to pay an excessive fee for a single output.  Saving in Bitcoin is valuable, but don't let anyone gaslight you to not save some money in a bank.

Bitcoin Whales, Craps, Octopus, and the rest all have active local bank accounts.  Bitcoin is not legal tender in most parts of the world, thus only cash and banks can save you..

Banks are not that useless when it comes to saving immediate money that will be used for a particular purpose. However we plan, there will be need of keeping money in local currency which will be monitored by banks.

Just the way Bitcoin has it's own little risks, same does banks have if you don't apply strict measures against scammers or restrain how personal informations are disclosed. It also depends on what you are saving for and how long you expect the holding period to be, for anyone saving for retirement can pick Bitcoin as savings or when the reason of saving is not in a hurry then you can invest and hold until the prices goes volatile and reach to a price where you may find confident to sell.

[Rockson1]

Banks are thieves, it's fucking unwise to entrust our wealth with banks, never should anyone leave whole portions of their money in the bank, if for any life sudden incident, at your dismissal everything ever owned are going down the pit, not a single dime will be transferred to your family or children.

I can tell that there are big businessmen who own accounts that their family knows nothing about, one's the account gets inactive for long time, banks begin to pull out funds little by little, time without recall we have heard various news concerning such immoral behaviors, banks should not be issued live savings, we should learn how to decentralized our savings and not put all into central services like banks.

We've seen this things happen as you said it but it looks like all this kind of things happen in Africa mainly I don't think this kind of things do take place in the civilised world where documentation and data are properly taken and kept for reference purposes, the laws here are not effective that's more reason I should agree to what you've written so far, it is funny if we even think that financial institutions don't know what they are doing, they do all this things internationally so that they can wipe out the deceased funds in their custody, the frustration the family of the deceased family encounter while trying to retrieve this funds can even discourage them from continuing the process.

Banks here can never be trusted in things like this, I know that we can not do without banks however, anyone considering putting their life savings in the bank will be doing that to their own detriment because anything that involves banks here in this country can not be trusted so we shouldn't put all our hope their so that we won't get stucked.

[CryptoHeadlineNews]

It's quite sad the institution that was meant to secure our money has now turned into robbers that takes away people's hard earned money in broad day light. Because that man is even lucky to still be alive when that ₦55million was lost and withdrawn from his account without his notice. Because imagine if he had died, thats how those bank officials would have denied he never had a penny in that account and gone away with the whole ₦500million, which is very bad. Because just like one of the case Verydarkman previously had last year with Access Bank after refusing to give to the next of kin over ₦500million her late brother left with Access Bank. As this is what banks keeps doing. Stealing people's money, which is why I can never keep huge amount of money in it, in other to avoid stories that touch the heart. Because till today, I still have ₦10,500 with First City Monument Bank (F.C.M.B) that was declined during P.O.S transaction, and since then I'm yet to receive a refund for over 2yrs now. Hence, enough reason why I will always prioritize funds saved in Bitcoin, rather than traditional banks.

[Charles-Tim]

They generally believe that Bitcoin is a scam zone and because they totally understand how the commercial banks are being operated, they find it safer.

In Nigeria, the old people do not see bitcoin as a scam zone, but they do not see it as money. Many of them do not know what bitcoin is also. They believed in physical assets and their businesses. They believed mostly in their businesses and have their money in banks.

We've seen this things happen as you said it but it looks like all this kind of things happen in Africa mainly I don't think this kind of things do take place in the civilised world where documentation and data are properly taken and kept for reference purposes

There are thieves everywhere. Money theft can happen anywhere. Do not trust people as long as your money is with them.

[Joeboy]

In Nigeria, the old people do not see bitcoin as a scam zone, but they do not see it as money. Many of them do not know what bitcoin is also. They believed in physical assets and their businesses. They believed mostly in their businesses and have their money in banks.

Well said OP, you see the old people not just in Nigeria but other part of the world, do not really see Bitcoin as a scam,  is just that many of them just don’t understand how something they can’t hold can have real value than the assets they can see, feel and hold. And also because many of them built their wealth through business, hustle, land and property purchase etc. So Bitcoin may feels like a gamble when compared to their tried-and-tested methods.

I believe however that with the right Education and Awareness they go begin dey see Bitcoin in another light and know say na one of the most reliable way to stay ahead of inflation.