Bank or Bitcoin Wallet? - page 177. | Bitcointalksearch.org

davinchi

legendary

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Quote from: leex1528 on November 18, 2015, 11:31:10 AM

What does a Bitcoin wallet give you that banks don't? No interest rates with Bitcoin wallets, no protection from losing money. I would prefer to store my money in a bank actually at the given moment.

Just some answers on how bitcoin is better....
In many countries, no interest rate or negative interest rate for bank accounts.
Many banks go corrupted/ bankruptcy. No protection in banks too. At least bitcoin so far gave best returns in long term.
To store the value of money for a give time period, we can keep money in a secret box under your swimming pool or garage.
Banks are not at all better in anyways than bitcoin in my perspective.

NewInCryptoCurrency

sr. member

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Yes I choose for Bitcoin Wallet, but this world I can't do just only Bitcoin Wallet so yeah :/

But I don't have a problem with the bank so it is oke.

CasioK

hero member

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Quote from: Supercrypt on November 18, 2015, 10:41:15 AM

Quote from: Abiky on November 18, 2015, 09:03:43 AM

With a Bitcoin wallet, have a great advantage towards a bank account, for many reasons. Those are the ones that helped me choose a Bitcoin wallet over a bank account (although sometimes it is necessary to have a bank account as well). Roll Eyes

The reasons are the following:

1. Lower fees than banks
2. Total control of your funds
3. Send and/or receive money almost instantly.
4. No limits or restrictions on the amount of money I deposit into.
5. And no central authority. Cheesy

I just wanted to continue your listing...

6. There is no problem of nominations to inherit to your next generation.
7. No annual fee or maintenance fee or any penalties
8. Can have unlimited accounts (address/wallet) to make some special accounts like retirement account.
9. No account opening hassles. Get a bitcoin address instantly.
10. International fund transfer facility and safety locker facility (cold storage) are free and instant.

You people got real facts as well as funny too.
Without knowing these I have been loving bitcoin so far. Now I came to know the reason for bitcoin's success. If some one summarize these bitcoin's advantage over traditional banks that must be very much helpful for spreading bitcoin with another reason.

ad2041

newbie

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I will choose bitcoin because of its easy transactions.

leex1528

hero member

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What does a Bitcoin wallet give you that banks don't? No interest rates with Bitcoin wallets, no protection from losing money. I would prefer to store my money in a bank actually at the given moment.

Daniel91

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Quote from: davinchi on November 18, 2015, 10:28:31 AM

Quote from: Whosdaddy on November 18, 2015, 09:54:18 AM

Quote from: Abiky on November 18, 2015, 09:03:43 AM

With a Bitcoin wallet, have a great advantage towards a bank account, for many reasons. Those are the ones that helped me choose a Bitcoin wallet over a bank account (although sometimes it is necessary to have a bank account as well). Roll Eyes

The reasons are the following:

1. Lower fees than banks
2. Total control of your funds
3. Send and/or receive money almost instantly.
4. No limits or restrictions on the amount of money I deposit into.
5. And no central authority. Cheesy

Yes, unlike bank accounts we can access all our funds anywhere in the world.
We can send unlimited amounts to anybody without any restrictions with a smaller fees.
There is no fear of seizure of our account/funds.

The list must be longer...

Banks hardly give interest of some 8% to 10% in some countries and in some countries there are practice of negative interest also. But bitcoin provide huge returns for our investments. Yes, bitcoin is banking system - an investment opportunity too.

Well, it's true that banks don't give huge interest and even can collapse, still if you need loan to buy house you will have o go to the bank.
If bank fail, usually state guarantee for your money.
Bitcoin is still unstable, its value going up and down all the time and you have to pay fees to cash out bitcoin.
So, even I like bitcoin, still I much more need wallet in my bank

Supercrypt

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Activity: 1554

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Quote from: Abiky on November 18, 2015, 09:03:43 AM

With a Bitcoin wallet, have a great advantage towards a bank account, for many reasons. Those are the ones that helped me choose a Bitcoin wallet over a bank account (although sometimes it is necessary to have a bank account as well). Roll Eyes

The reasons are the following:

1. Lower fees than banks
2. Total control of your funds
3. Send and/or receive money almost instantly.
4. No limits or restrictions on the amount of money I deposit into.
5. And no central authority. Cheesy

I just wanted to continue your listing...

6. There is no problem of nominations to inherit to your next generation.
7. No annual fee or maintenance fee or any penalties
8. Can have unlimited accounts (address/wallet) to make some special accounts like retirement account.
9. No account opening hassles. Get a bitcoin address instantly.
10. International fund transfer facility and safety locker facility (cold storage) are free and instant.

davinchi

legendary

Activity: 2100

Merit: 1058

Quote from: Whosdaddy on November 18, 2015, 09:54:18 AM

Quote from: Abiky on November 18, 2015, 09:03:43 AM

With a Bitcoin wallet, have a great advantage towards a bank account, for many reasons. Those are the ones that helped me choose a Bitcoin wallet over a bank account (although sometimes it is necessary to have a bank account as well). Roll Eyes

The reasons are the following:

1. Lower fees than banks
2. Total control of your funds
3. Send and/or receive money almost instantly.
4. No limits or restrictions on the amount of money I deposit into.
5. And no central authority. Cheesy

Yes, unlike bank accounts we can access all our funds anywhere in the world.
We can send unlimited amounts to anybody without any restrictions with a smaller fees.
There is no fear of seizure of our account/funds.

The list must be longer...

Banks hardly give interest of some 8% to 10% in some countries and in some countries there are practice of negative interest also. But bitcoin provide huge returns for our investments. Yes, bitcoin is banking system - an investment opportunity too.

Iceborn

sr. member

Activity: 266

Merit: 250

Both got their pros and cons

Banks got transaction fees and it takes longer to transfer money, banks could also get bankrupt and you could lose all your savings.

With bitcoins you can get hacked and lose everything

I believe it's just a matter of which risk you're willing to take

Whosdaddy

hero member

Activity: 1148

Merit: 527

Quote from: Abiky on November 18, 2015, 09:03:43 AM

With a Bitcoin wallet, have a great advantage towards a bank account, for many reasons. Those are the ones that helped me choose a Bitcoin wallet over a bank account (although sometimes it is necessary to have a bank account as well). Roll Eyes

The reasons are the following:

1. Lower fees than banks
2. Total control of your funds
3. Send and/or receive money almost instantly.
4. No limits or restrictions on the amount of money I deposit into.
5. And no central authority. Cheesy

Yes, unlike bank accounts we can access all our funds anywhere in the world.
We can send unlimited amounts to anybody without any restrictions with a smaller fees.
There is no fear of seizure of our account/funds.

The list must be longer...

PAKYU

sr. member

Activity: 400

Merit: 250

Maybe bank that use blockchain system. Just it and perfect.

Abiky

legendary

Activity: 3220

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www.Crypto.Games: Multiple coins, multiple games

With a Bitcoin wallet, have a great advantage towards a bank account, for many reasons. Those are the ones that helped me choose a Bitcoin wallet over a bank account (although sometimes it is necessary to have a bank account as well). Roll Eyes

The reasons are the following:

1. Lower fees than banks
2. Total control of your funds
3. Send and/or receive money almost instantly.
4. No limits or restrictions on the amount of money I deposit into.
5. And no central authority. Cheesy

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: LuckyYOU on November 17, 2015, 03:34:52 PM

-snip-
Therefore i got some money in my own qt, some on several large exchanges.

With my bank I got no problem trust issues, so yes for now I would say, I go with my bank

Why exchanges? They are much less secure than desktop wallets. And arguably, if you keep Bitcoins in a bank, it can also get hacked since the hacker can essentially log in to your account from anywhere.

Quote from: kostya.ash on November 17, 2015, 07:27:13 PM

-snip-
I think for the speed of delivery, bank and bitcoin wallet have the same transmission speed,
the difference is the cost fee

No. Bitcoin is significantly faster. Banks does take days at times to process payments. E.g. SEPA can take up to 5 days incl. weekends.

cellard

legendary

Activity: 1372

Merit: 1252

Personally bank but honestly, when you deal with people you start thinking that the average joe may not be cut for this as in being their own bank, they are too illiterate and will screw up and get hacked/lose their stuff by accident. I think we need better tools to store Bitcoin in secure and safe ways so this is not an issue.

avw1982

hero member

Activity: 644

Merit: 500

Quote from: AncilVTwo on November 17, 2015, 11:57:53 AM

Well my answer is prolly biased, billy I would definitely choose a Bitcoin wallet over a bank wallet, just cuz Bitcoin is so much easier to handle

Even I also like to choose Bitcoin wallet. Because No need to keep passbook, No need of transaction entry, No need to go to ATM machines and Privacy is also higher than bank In bit coin you can monitor all your transaction and savings very easily.

RealPhotoshoper

legendary

Activity: 1050

Merit: 1001

in some case,bitcoin wallet is better than bank account.and also in some case,bank account is better than bitcoin wallet. depend what you need,if you need a real account,choose bank account,but if you wish simple and fast,choose bitcoin wallet. its simple as you think. is suggest you to choose both,because you will need it,i'm sure.

kostya.ash

sr. member

Activity: 294

Merit: 250

Quote from: hasiramasenju on November 17, 2015, 12:50:23 PM

for this moment i will choose bitcoin and i already know if we look from in the terms of security bank is still the most secure place to save our money

but in if we look from transactions of confirmation bitcoin much faster than bank

I think for the speed of delivery, bank and bitcoin wallet have the same transmission speed,
the difference is the cost fee

BeGoods

legendary

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Merit: 1008

Quote from: HostSurf on November 17, 2015, 10:53:44 AM

Bitcoin Wallet is the choose for me.

I don't mine using the bank but for sending money BTC is better.

And I mean to the other world.

use both is better dude, You can not just use the bitcoin wallet for each pay something

Decoded

legendary

Activity: 1232

Merit: 1030

give me your cryptos

In my country, interest rates are miniscule, and bitcoin wallets have a tiny transaction and no withdrawal fee. Due to this, id strongly recommend a bitcoin wallet.

LuckyYOU

sr. member

Activity: 280

Merit: 250

So far I am a little bit worried with the safety of my bitcoin qt. If i got hacked (I run anti virus, firewall and windows security essentials), I can lose my money (my private key is stored somewhere else though)

Therefore i got some money in my own qt, some on several large exchanges.

With my bank I got no problem trust issues, so yes for now I would say, I go with my bank

Topic: Bank or Bitcoin Wallet? - page 177. (Read 230501 times)