Topic: Can you tell me which one you will choose and why? - page 2. (Read 524 times)
If you know how the bank works I guess that's the time you invest too, if I will choose it depends if you know how the banks do with your money and know their perks you can enjoy the benefits of its when it comes of storing with your money in banks it has a low annual interest that grows with your assets, in cryptocurrency, there's a ride with the market volatility so much more risk even the stable coins drops recently like the USDT and the USDC but in banks seems to take time to move. If storing your assets ill go for the banks if in the fiat currency, but in crypto ill stick with the hardware wallet and letting those exchange as only a tool.
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
Well, with the banks we can't exchange our crypto holdings whilst with Binance we can use them and exchange our cryptos into fiat. That's my analogy on why I'll choose Binance over a bank if there's really no other choice to make. I do like some of the banks but the fact that they're just really for safe keeping, even if that's the main reason for putting your money there, trust no one. They're all centralized, they can freeze your money anytime as they wish and reason out that you've got a red flag on them. I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
Since you need your bank to receive or withdraw Fiat, isn't that enough reason why a bank should be the winner here? Even if you can store your Fiat on Binance exchange there is no way to turn them into real cash and withdraw, for me I will go with the bank. Mind you, crypto assets are a lot safer in your hardware wallet, even a hot wallet is safer than centralized exchanges and banks.
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
My bank and Binance both are centralized, so I would definitely trust my bank more, but it is about trust, and not liking. Banks of course charge you for their service, card fees, SMS fees, and a lot more every year, there is nothing like that in Binance, so I like that thing more about Binance than my bank. But when it comes to keeping my funds, I would definitely trust my bank more than Binance, and then a hardware wallet more as you said.I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
Though it's understandable that they are controlling, not very convenient at times, costly for transactions, etc. but banks have been around for decades, and that obviously makes them more trusted.
It's possible that you can see the structure where your bank is located, but your money isn't there, thus you can't see it. The numbers next to your name are visible. Your funds are given to other people as credit. Your bank, mine, and nearly every other bank would experience severe difficulties in the event of a bank run. Even yet, the funds are insured, and they adhere to stronger rules than services like Binance, which have a history of relocating to other countries after being expelled from several of them.
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
Of course, hardware wallets are the ones I trust the most. Hardware wallet is one of the secure wallets. But if I am asked to choose between Binance Exchange and Bank Account, I will not choose either. Because I don't see any of these two as safe. They can do anything with you for their own interests.Hardware wallet is the absolute choice and it will be the best choice. Have full control without any interference from third parties. Regarding Binance Exchange and Bank accounts, it seems that they are almost similar, only distinguishing Binance Crypto and Fiat Banks. Binance Exchange is a centralized Exchange that is still under the government, will not have full control over assets stored on Binance Exchange. It is not recommended to keep everything.
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(not your key, not your token) makes it simple to answer your question. OP, if your crypto asset is stored in a hardware wallet, you become fully in control of the safety and security of your asset; you are guaranteed that the amount of asset you hold is only known by you and no one else; you can get your asset off of the hardware wallet any day and any time you want to use it; but banks can develop some network issues at your time of emergency. Banks are important because they make it possible to get our local currencies to spend, but the problem here is that if our money is in the bank, it's in the hands of a third party, who knows our net worth. So I said a hardware wallet is better than a bank in terms of holding funds.
Binance and Bank are not to be compared in any way; Binance is not a financial institution but just a decentralized exchange to trade cryptocurrencies; Bank is a financial institution to save and withdraw your local currencies despite the security, network, and centralized issues of banks; Bank cannot be chosen over Binance (LOL); which countries don't have Bank?
Binance and Bank are not to be compared in any way; Binance is not a financial institution but just a decentralized exchange to trade cryptocurrencies; Bank is a financial institution to save and withdraw your local currencies despite the security, network, and centralized issues of banks; Bank cannot be chosen over Binance (LOL); which countries don't have Bank?
Banking sector is very poor in my country and banks are using the slightest opportunity they are having to cheat there customers, I don’t really like saving money in my bank account, I always withdraw the amount I will be using at that particular time into my bank account. If you leave money in your bank account, you will still be debited at the end of the month even without running any transaction. Binance can’t also be trusted, anything can happen to them at any moment, so both bank and binance can’t be trusted.
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
The answer to your question depends on who you are asking. For a crypto enthusiast that wanted to get out of the grasp of banking system, it is obvious that they will answer Binance but for a normal people, they will always prefer banks because banks have insurance, operated by financial sector of the government and is acknowledge by the government. Most people feel secure if they are dealing with an entity fully licensed by the government.
I prefer not to trust both because in cryptocurrency, not your key not your coins. Same goes with fiat currency, if it is not in your wallet, it is not your money.
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I think that both have a different function for me, except that it is for investment or saving money. For the usage and the trust, I think that bank has more security than Binance, although nothing is perfect 100%, banks are commonly guaranteed by certain constitutions in a country right?Although there are some cases in which banks make some problems and lose money, this case is probably not really much. However, if it is about saving money for the long term, I will not choose banks because I cannot earn profits from saving money in banks, only a small amount from deposits and this is not worthy 
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
Apart from storing assets in personal hardware wallets, I would trust banking more than storing them on exchanges, because basically almost every exchange we come across never guarantees that our funds will be completely safe with them even if one day there is a hack on the exchange then our funds it will also be lost, lucky if they intend to replace it but if not then we have to just give up our funds, unlike banking if our funds are lost in their hands, then we can sue them to replace our lost money. I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I'd choose binance over bank accounts, none is safe and I think one is of greater advantage, so if I have to deal with any, I'd go with the one with higher advantage which is the binance exchange. But of both, hardware wallet is far better, their choice is respected though, the know better why the had to go for that. I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I mean both Banks and Binance are centralized and when it comes to investment I wouldn't really trust both of them, but they both have advantages and disadvantages at the same time. Binance was a pretty popular exchange and probably the best exchange where you could trade but it is still vulnerable to hacking like what happened to other exchanges. I mean I would put some of the money on Binance and invest a small percentage but mostly because of trading and converting my cryptocurrency. Similar to what happened to FTX, it could easily happen to Binance at some point.
I would probably trust the bank more than Binance since you could easily go to banks locally and report when you encounter problems, Ideally, when we are talking about long-term I would easily pick a bank to put my money but there are still a lot of issues like hacking, phishing, etc. Recently a friend that gets his bank account hack around 600$ was sent to another account, As far as I know, when the money was already out of the bank you cannot recover your funds especially if it is your fault that you get hacked, but one of my worry here if when it is an inside job how are you going to prove that its not your fault.
I don't trust either one. They are both scams but for different reasons.
Banks are scams because they are all use fake money and are all insolvent but they are backed by the federal government so they have been able to stay alive this long.
Binance is a scam because they use mostly fake money (everything except for Bitcoin is fake) but they are not backed or insured by any government but because more people trust and use them globally, they have been able to stay solvent as long as they have without any aid from governments.
There is a saying in Bitcoin "Be your own bank" and it couldn't be more true. Self custody with a hardware wallet device is the only way to truly stay solvent well into the future.
The only way to be sure that you are not being scammed is to control your own private keys.
Banks are scams because they are all use fake money and are all insolvent but they are backed by the federal government so they have been able to stay alive this long.
Binance is a scam because they use mostly fake money (everything except for Bitcoin is fake) but they are not backed or insured by any government but because more people trust and use them globally, they have been able to stay solvent as long as they have without any aid from governments.
There is a saying in Bitcoin "Be your own bank" and it couldn't be more true. Self custody with a hardware wallet device is the only way to truly stay solvent well into the future.
The only way to be sure that you are not being scammed is to control your own private keys.
Also, I have been wanting to ask too but for me, I will trust the Banks more than trusting Binance exchange that can be shot down any moment, but when one's falt money is in the bank it will save and one's mind will be at rest
Let say if the banks go down today one can be able to do something or hold the government for that, but in this case, for the Binance exchange today they are many scammers out there and they can just hack someone's wallet on Binance so for me I trust the Banks more than the Binance exchange platform when I was registering for an acct I saw warning signs that say be careful of scammers
Let say if the banks go down today one can be able to do something or hold the government for that, but in this case, for the Binance exchange today they are many scammers out there and they can just hack someone's wallet on Binance so for me I trust the Banks more than the Binance exchange platform when I was registering for an acct I saw warning signs that say be careful of scammers
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
Of course, hardware wallets are the ones I trust the most. Hardware wallet is one of the secure wallets. But if I am asked to choose between Binance Exchange and Bank Account, I will not choose either. Because I don't see any of these two as safe. They can do anything with you for their own interests.I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
At present, most corruption is happening in banks. They are deliberately changing their rules by banks. Transactions incur high charge fees. And I don't believe in this bank especially because there is more corruption in the banking sector.
Everyone has their own preference but for me I'd like my money to not handed over to someone which means I trust hardware wallet than Binance or banks but I use Binance when trading it's just that I don't store my crypto on exchanges. Banks are different than crypto and just like what they said exchanges and banks are all centralized which means you don't have a full control of your funds if there's something bad going to happen. I only store money if it's for expenses in that way you will have a guarantee that your on money is safe.
This is something that exists in theory, but I'm really interested in how it would work in practice in the event that one of the big EU banks fails. Given that everything is more or less slow in the EU, I would not be surprised if the process is long-lasting and quite painful for all clients. Let's remember that banks are very quick when they need to take our money, and the opposite is true when they need to give it on any basis.
However, some would say better late than never, and I always remember the case of Ljubljanjska banka, which stretched for decades and many died without receiving their money.
Good example with the Ljubljanska Banka case. The European Court of Human Rights in Strasbourg had to step in before those scums started paying out their pre-war clients. As they say in the Balkans, justice is slow but attainable! You will surely wait a long time, but eventually you will get it. If you are still alive. Even if not, there are usually heirs who will carry on the fight. However, some would say better late than never, and I always remember the case of Ljubljanjska banka, which stretched for decades and many died without receiving their money.
It was a really fucking period, and if I remember correctly, it wasn't just Ljubljanska that did such damage.
as far as I know, according to the regulation of the central bank, all other banks must have certain reserves so in a way they are not the only ones who wonder about clients' deposit funds. (of course, this is the case in less corrupt and organized countries).
I guess this is the kind of regulation that is missing in the sphere of crypto exchanges, where they have to offer some kind of guarantee on all funds entrusted to them.
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
Considering my past experiences, I will unquestionably choose a bank over a centralized company like Binance. With what happened to the FTX exchange and many exchange, it is evident for me that even exchanges with a good reputation can run away with customers money. However, I have yet to see a bank in my country with a good reputation run away with customer money.Therefore, if a bank in many country is running out of founds to continue maintenance it company, it is required that they merge with other banks to make things easier for them but not running away with customers money . Therefore, I will select bank over Binance Exchange based solely on this. I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
I trust hardware wallet more than my bank account and Binance exchange, but if you are ask to choose between banks and Binance exchange which one do you trust the most? I throw this question to crypto friends around me and they choose Binance exchange.
I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
Here is my response regarding this, for business you can use banks, since you will need this for your business transaction in the realworld, you can't use binance for that, while in crypto it will be binance, regarding with trust to both of them, i won't be trusting any, the banks holds your money lend it to others and give you small income, and only return small amount, when bankrupt, if you want to keep your money use hardware wallet, or the one that you own the keys, trusting your money to this two is not a good idea for me, use them for just transactions if needed. I wonder why though, because I feel like banks should be more trusted, my bank for example, has been running for over 20 years and nothing bad happened except, for high charge fees, but my fiat is always in safe hands, I don't know, maybe I missed something? So I plan to ask on here, which one would you trust the most and why?
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