I trust the bank more than Binance because if something bad happens to the bank, the government will find a solution and refund all of its customers. Meanwhile, Binance can disappear without us knowing and we cannot get back the coins in our account balance. And to overcome that, we can store all the coins that are assets in a hardware wallet to keep a good eye on them and protect them from hackers. And between banks and hardware wallets, there are differences.
We store all crypto assets in hardware wallets and keep all money in banks. But for trust issues, I think it will depend on each user. People who are not familiar with crypto will trust banks more. But we believe in crypto and keep trying to take good care of it.
Topic: Can you tell me which one you will choose and why? - page 4. (Read 524 times)
I can only give full support to decentralized wallet but not binance exchange or banks and the reason is because the two are centralized. Above all in comparison to bank and binance exchange like you ask, I will choose to trust bank more than binance exchange because it can be hacked or have the same issue with ftx where depositors won't be able to recover their money but in case that happens to a bank, the government of that country will ensure depositors get back their money.
When talking about the safest, of course I have to say the safest in my opinion is the bank that I have been using for a long time because apart from being able to see it with my own eyes, I have no fear of saving more fiat there...
Maybe you can see the building where your bank is, but you can't see your money because it's not there. You see the digits next to your name. Your money is lent out as credit to other people. In case of a bank run, your bank, my bank, and almost all others would be in big problems. Still the money is insured, and they follow stricter regulations from services like Binance that have a history of moving around different jurisdictions after getting the boot in multiple locations. 
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.
If I had to choose, I would choose both for my use, because I still need a bank to store my fiat before I can use it for things that are important to me. But on the other hand I also need to use the Binance exchange for trading and store my crypto assets for a while before I withdraw them to my personal wallet. So I was more inclined to use both until recently so I can't just choose one or the other now.Quote
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?
When talking about the safest, of course I have to say the safest in my opinion is the bank that I have been using for a long time because apart from being able to see it with my own eyes, I have no fear of saving more fiat there, but my feelings for exchanges are very different from banks including the Binance exchange so I have to put Binance as second in me for this. 
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.
You should trust bank more. Exchanges can be hacked, but thievery in banks in my country do not have effect to the extent banks will not be able to pay their customers. They are both centralized but I trust bank the most. No bank in my country has a case of not able to pay customers money because of bankruptcy, there is chance it can happen, but very low probability.But my final opinion is that I neither trust bank nor exchanges, they are both centralized. If you read about the cashless policy in my country and the CBN hell mentality of the new naira notes, because of that, you can not trust banks. There are several cases that central banks will make a country a hell for citizens.
But with bitcoin on your noncustodial wallet, you have the full control of your money.
Earlier, before the FTX incident happened, "not your key, not your coin" became a great concern and a reminder to all. I trusted Binance more than my local Nigerian bank. The reason is that I am allowed to hold my crypto in Binance how ever I want it and when ever I want with just little charges that are almost not noticeable, and I only make a withdrawal to my local bank account whenever I need to use cash, and I select which of my banks don't have network issues at that time (that's from online payment to ATM withdrawal), then I will fund the account directly using my Binance. To cut the whole story short, I don't trust both Binance and my local banks; I prefer holding my money on a decentralized system instead of any of these two. Unless I am left with no other option than to just choose between these two, I can go with my local bank account over Binance since I can go straight to the respective bank office and report any behavior I notice that is off the book.
It's kind of a peculiar question. Hardware wallets hold the keys to your cryptocurrencies, aka they store your crypto. You can trust them to do that job because that's what they were designed for. How are you going to store your fiat there? Your fiat is supposed to be in your bank account and not on centralized crypto exchanges like Binance or any other.
I trust my hardware wallet for my bitcoin and certain alts.
I trust my bank with my fiat.
I trust the baseball bat under my bed and the knife in my nightstand just in case someone wants a go at the valuables in my home.
I don't trust Binance because Binance cares for its interests and not yours or mine.
I trust my hardware wallet for my bitcoin and certain alts.
I trust my bank with my fiat.
I trust the baseball bat under my bed and the knife in my nightstand just in case someone wants a go at the valuables in my home.
I don't trust Binance because Binance cares for its interests and not yours or mine.
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 don't trust either (and for that reason I don't use either of those to store my money) but I think that my bank is less likely to go down simply because I trust my country's regulations more than I trust Cayman Island's + their willingness to bailout banks. After all, there's a reason why Binance is hiding (and why FTX was registered there as well) there and not somewhere with strict regulations.I throw this question to crypto friends around me and they choose Binance exchange.
No surprise there, that people still trust centralized exchanges even after everything that has happened lately and for that reason it will happen again. 
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?
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