ASK LEO : is cryptocurrency becoming more and more reliable than our banking system....

4 mo
LeoFinance
2 Min Read
340 words

HELLO HIVE

Cryptocurrency has not been in the financial market for long but it has now swept through many structures of the world power already, the bank has been pretty affected by this but many people don't seem to care because it has not actually been affective even when there was no crypto currency.

Yellow and Blue Modern Cryptocurrency Instagram Post.png

Ranking as one the country with one of the worst banking systems in the world you wouldn't fault bank customers who are now diverting their money from the banks to crypto.

These days things seem to have gone from bad to worst for many Nigerian banks, the slow level of their services rendered has made the banking sector a joke this days.

I recently made a bank transfer from my mobile banking app and my money got stuck at a point no body knows except the bank themselves from my own end it is showing that the transfer was successful but from the the other end where am transferring the money there is no sign of any transfer taken, friend's and family asked me to wait a little longer before the money will be reversed and a little longer became two weeks at the end I had to go to the bank and file complaints.

Many Nigerians are complaining on the twitter app on a daily basis about how they are feeling hard done by their banks and this has made many people to lose their funds especially in cases where the person you are sending the money to needs it urgently and can't wait till it has been reversed and then you end up doing two transfers thinking the first didn't go through and then it eventually goes through after you've done the second transfer .

If banks in Nigeria continue at this rate and many more people become more exposed to crypto then I don't see why crypto won't end up taking over the financial market.

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I had made a purchase in a super stock early this year, and I decided to pay with my card. It got stuck. My account was debited. I was told to visit my bank.

Long story, cut short, it's close to the end of the year, and my money is no where in sight. 😩

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4 mo (edited)

Been in this situation is always very frustrating and the painful part is that one finds the customer service of most of the banks very slow when they respond to instances like this.

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