Bank or Bitcoin Wallet? - page 105. | Bitcointalksearch.org

Supercrypt

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Quote from: Skaven on June 06, 2016, 04:10:32 AM

There are allot of people who thinks bitcoin wallets are save enough to use but it is not so. Use banks these days there are allot of scammers around the bitcoin wallets dont trust them.

What is wrong if people are thinking of bitcoin wallet as safe banking. Moreover with a strong encryption and strong password your wealth in the format of bitcoin is highly secured than any bank safe from any hacker.

Cold storage kind of option can be considered as bank deposit or bank safe. Your bitcoin will remain with you all the time and more importantly very securely.

praprata

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Quote from: drwtsn32 on June 08, 2016, 09:03:49 AM

It depends.

Bitcoin Wallet:

Your money can increase/decrease from time to time.
Secured as long as you protect your key.
The only one you have to trust is yourself.
Versatility and Availability: you can use it in a lot of ways. Anywhere.

Bank Account:

You have to trust the bank with your money.
You can gain interest (through time deposit) but very slow.
Security for me is better here. Because this is in the mainstream unlike bitcoin.

Indeed I think its really depending on what you as a person like about storing money and what you want to do and achieve of course.

MingLee

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It all depends on what kind of currency you have an what you want to get out of it.

If you want interest, go for a bank. It's probably your best bet when it comes to safely making a return on your investment, even if it is getting outpaced by inflation.

If you want a Bitcoin wallet, however, that's your best bet for taking security into your own hands. No return, but you can make it basically 100% secure and your account will never be frozen or anything.

drwtsn32

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It depends.

Bitcoin Wallet:

Your money can increase/decrease from time to time.
Secured as long as you protect your key.
The only one you have to trust is yourself.
Versatility and Availability: you can use it in a lot of ways. Anywhere.

Bank Account:

You have to trust the bank with your money.
You can gain interest (through time deposit) but very slow.
Security for me is better here. Because this is in the mainstream unlike bitcoin.

cookiemonster07

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Bank

mishra1994u

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i wouldnt risk using bitcoin wallet banks are still pretty reliable and im not thinking about changing it to bitcoin paper wallet or so theres no need for me to do that

redsun114

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Quote from: JeanMcCoy on June 06, 2016, 04:32:35 AM

if there are only bitcoin wallets i would use them but there are also banks who can keep your money save instead of the wallets who cant. So use banks money is what they can keep save not your worthless coins.

But I feel happy that I have two options to save my money. I feel the money in bank is lesser safer than with my bitcoins. In future, I will have only one that will be based on convenience, definitely only bitcoin.

wuvdoll

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Quote from: Skaven on June 06, 2016, 04:10:32 AM

There are allot of people who thinks bitcoin wallets are save enough to use but it is not so. Use banks these days there are allot of scammers around the bitcoin wallets dont trust them.

Scammers or robbers are not new only because of bitcoin ecosystem. They are keep on existing and your fiats are too vulnerable to any possibility of threatening by them. In my experience using bitcoin wallet is more safer than bank accounts as I believe on strong password encryption.

saiha

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Quote from: sishendaoye on June 07, 2016, 09:51:51 PM

Quote from: Helpme_please on June 07, 2016, 08:35:52 PM

why must i choose 1 of both ? i think i can use both of them, and i choose both of them.

The most are using them both and I'm also using them both, you are right about that.
To be honest I even like them both and I think banks are more powerful these days.

And yep you are right guys it is better to use both as per bitcoin is for bitcoin wallet and your fiat money it's up to you if you are going to save it to your bank account or you are just going to store that to your vault in your house.

sishendaoye

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Quote from: Helpme_please on June 07, 2016, 08:35:52 PM

why must i choose 1 of both ? i think i can use both of them, and i choose both of them.

The most are using them both and I'm also using them both, you are right about that.
To be honest I even like them both and I think banks are more powerful these days.

Helpme_please

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why must i choose 1 of both ? i think i can use both of them, and i choose both of them.

chaser15

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Quote from: shinratensei_ on June 07, 2016, 06:03:24 PM

Some people is negligent to maintaining their bitcoin wallet. carelessly to downloading file have a ransomware can steal their bitcoin wallet data.
Bitcoin wallet was hacked,maybe it's just a human error of bitcoin wallet owner.

Exactly. The one who blamed if wallet was hacked or lost is the bitcoin owner itself. There are lots of precautions and security measures to have your bitcoin be safe.

Another story if the user uses web wallet then suddenly the company turn to a fraud.

ajun96

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Quote from: bob123 on June 07, 2016, 06:27:47 AM

I dont think Banks will ever accept bitcoin as payment.
They might create their own Blockchain technology.. but they definetly not gonna accept bitcoins

Lol where did you have the idea that the bank will accept bitcoin as a payment? payment of what you mean?
I think it maybe if bank support bitcoin. as was done by the Italian central bank you can see the news here
https://www.cryptocoinsnews.com/italys-central-bank-welcomes-bitcoin-boot/

dimox

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if my country many people using bitcoin im using bitcoin wallet but in my country unfortunately very few are using bitcoin Cry

sishendaoye

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Quote from: blackmachinegun on June 07, 2016, 05:55:07 PM

Quote from: CryptoBjorn on June 07, 2016, 05:55:57 AM

i dont think you should try a bitcoin wallet these times. The coin is to new and so are the bitcoin wallets i dont trust my coins into them. What i do trust is my money on a normal bank. Banks will always be there and cant steal your money that you cant do anything about it such as bitcoins.

I think for security in bitcoin wallet it depends on you. because you are giving additional security in your wallet? I provide authentication sms for my wallet and for three years I was in bitcoin. bitcoin I have never stolen or hacked?

I also never had this problem and I'm using a bitcoin wallet with a 2way authentication, its working well and I never been hacked or something.

shinratensei_

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Quote from: blackmachinegun on June 07, 2016, 05:55:07 PM

Quote from: CryptoBjorn on June 07, 2016, 05:55:57 AM

i dont think you should try a bitcoin wallet these times. The coin is to new and so are the bitcoin wallets i dont trust my coins into them. What i do trust is my money on a normal bank. Banks will always be there and cant steal your money that you cant do anything about it such as bitcoins.

I think for security in bitcoin wallet it depends on you. because you are giving additional security in your wallet? I provide authentication sms for my wallet and for three years I was in bitcoin. bitcoin I have never stolen or hacked?

Some people is negligent to maintaining their bitcoin wallet. carelessly to downloading file have a ransomware can steal their bitcoin wallet data.
Bitcoin wallet was hacked,maybe it's just a human error of bitcoin wallet owner.

blackmachinegun

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Quote from: CryptoBjorn on June 07, 2016, 05:55:57 AM

i dont think you should try a bitcoin wallet these times. The coin is to new and so are the bitcoin wallets i dont trust my coins into them. What i do trust is my money on a normal bank. Banks will always be there and cant steal your money that you cant do anything about it such as bitcoins.

I think for security in bitcoin wallet it depends on you. because you are giving additional security in your wallet? I provide authentication sms for my wallet and for three years I was in bitcoin. bitcoin I have never stolen or hacked?

Supercrypt

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Quote from: lixer on June 06, 2016, 08:41:13 AM

Quote from: Nowl1935 on June 06, 2016, 06:55:12 AM

Of course i will pick bitcoin wallet, Its very easy to use. No requirement required upon the registration, Easy to deposit bitcoin, No hassle when it comes to transaction

Yes anyone can start using bitcoin, right after the moment he decided to. Bitcoin is going to facilitate banking feature to each and every citizen of this world as it does not require any documentation or charges to start with.

Well it's kinda obvious that almost everyone of us here will choose bitcoin wallet over banks because this is a bitcoin forum and the advantage that bitcoin has against banks is transparency, in which wallets are able to provide and banks are not.

ning_chang

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I will pick bitcoin wallet, you can use bitcoin wallet anonymously with out any requirements when creating an account, Bank account required many requirements like id account fee.

bob123

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I dont think Banks will ever accept bitcoin as payment.
They might create their own Blockchain technology.. but they definetly not gonna accept bitcoins

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