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[QUOTE="btaliat, post: 242870, member: 26390"] There are many ways by which money can be saved. There are advantages and disadvantages to each of the methods that one may choose to adopt but it is better to choose the ones that have lesser disadvantages in order to make the process more profitable for us. Saving with local banks: there is no country that doesn't have local banks for her citizens to save their money. These banks are called Commercial Banks. It allows deposit from customers and gives interest on the saved money. Most time, it is better to fixed money to attract more interest rate. The only disadvantage to this method is that it doesn't encourage saving during inflation period. Saving with microfinance banks: this like banks but different in some ways. In this, people of the same interest, pool their resources together and make sure they loan the money out and collect the interest on those borrowed money. The only disadvantage to this is that some people may not returned the loan. Saving in crypto: this is the commonest way of saving. People save in different coins and most time they even prefer to save in some stable coins which protect their money from incessant volatility of crypto. [/QUOTE]
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