Topic: Is Bitcoin safer than banking? - page 15. (Read 3115 times)
When talking about security, of course I see that banks are safer because they are recognized and protected by the state, while bitcoin is not. But if you talk about the benefits, of course, bitcoin is more profitable than banks.
Banking would still be safer than bitcoin because of its high security compared to bitcoin wherein bitcoin exchanges, bitcoin wallet, other digital storage that can be hacked. If ever banks been robbed, insurance policy comes in. While you can not retrieved any stolen bitcoin.
It depends, in terms of transactions and moving large some of money then bitcoin is safer. Building your money while its been saved, bitcoin is safer... saving your money and not expecting much in return, than you can try bank! 
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
saving money or investing in crypto is more profitable than saving money in a bank. I have long invested in crypto currencies and until now my bitcoin wallet has never been stolen. if you want to store bitcoin and altcoin I recommend storing in a wallet that is often used by people or wallets that are already known in the crypto world.
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
To be honest, the global cryptocurrency market is still in its infancy. However, the growth rate is extraordinary and I understand why you are interested in getting involved. To briefly answer your first question, yes, Bitcoin is safer than the world banking system over time.
However, that does not mean it is safer to only have bitcoin or cryptocurrency because the market is unpredictable. Therefore, if you decide to invest in Bitcoin then you need to pay attention to every major event that can affect the value of Bitcoin.
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
The practice shows that having btc in one's wallet can also be rather unsafe, especially when one has only a slightest notion of what cybersecurity is.This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
Though yes, if talking about cryptocurrencies one is fully responsible for his funds, and this brings a greater confidence if comparing the same financial activities in banks.
Well, I will not say, in our time, all the atki Bank is more stable and stronger, well, everything is already provided and security is above all in this case, and with bitcoin you can still cheat and catch inattention.
I believe that with the volatility being one of the major attributes of bitcoin, i can say that bitcoin is more risky than bank. It's risky as its market price may fall down so hard so as your investment too. Your digital wallet can also be a target to cyber criminals and once you fall from their trap, it's already over.
I don't agree with you. It seems to me that bank is safer than bitcoin because bank is supported by the government
In my opinion, I think the Bank is safer than Bitcoin. Since the Bank has a stable interest rate and a partnership with the state, the state can help if it goes bankrupt. As for Bitcoin is up and down uncertain, it is difficult to predict its value. If anyone has the idle money to venture to get rich, then invest in Bitcoin, also want to receive money every month should send the Bank.
for now the answer is a big no because the cryptocurrency industry is subjected to so much manipulation and that one has caused the industry so much.Even SEC has sited some of these concerns as a reason for rejecting the btc ETF proposal.The manipulation of the market by certain unseen forces makes it riskier than any other industry now.The cryptocurrency industry is not yet safer than banks .we may get there one day but we are not there yet.
There are several different types of security. If discussing about financial transactions guaranteed by the government, banking has a much better thing. But when we discuss about a matter related to the personal information we have, bitcoin is very superior. The implementation of the financial system on bitcoin will also allow us to make transactions whenever and wherever we are.
bitcoin is more secure than most existing financial services, including legacy banking platforms like SWIFT, which has been compromised repeatedly by hackers, technically bitcoin is more secure than banking where you can control all your fund.
In some ways, yes, BTC is a lot safer than banking. However, these two phenomena have their own both pros and cons. Here's my non-exhaustive list just to show what I mean:
BTC:
pros
✓anonymous
✓low transaction fees
✓no fees for storing
✓nontaxable
cons
✓volatile
✓vulnerable to hacker attacks
✓unregulated
✓not accepted as a legal tender
✓heavily dependent on Internet access availability (always)
Banking:
pros
✓regulated
✓fiat is accepted as a legal tender
✓fiat is available even where there's no Internet access at all
✓fiat is far more stable
cons
✓commissions and fees a lot higher as compared to BTC
✓(often depending on a country)
✓vulnerable to hacker attacks (online e-banking accounts)
✓heavily dependent on Internet access availability (only for card or e-banking accounts)
BTC:
pros
✓anonymous
✓low transaction fees
✓no fees for storing
✓nontaxable
cons
✓volatile
✓vulnerable to hacker attacks
✓unregulated
✓not accepted as a legal tender
✓heavily dependent on Internet access availability (always)
Banking:
pros
✓regulated
✓fiat is accepted as a legal tender
✓fiat is available even where there's no Internet access at all
✓fiat is far more stable
cons
✓commissions and fees a lot higher as compared to BTC
✓(often depending on a country)
✓vulnerable to hacker attacks (online e-banking accounts)
✓heavily dependent on Internet access availability (only for card or e-banking accounts)
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
Most of the cases bitcoin is a lot better and more secure than the banks If you are about to engage in any contract please be cautious and seek for a legal advice. This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
For me yes because Bitcoin is really decentralized, Bitcoin is one of the best where to store our money, BItcoin is the best payment over the internet, you just need your personal Bitcoin wallet, you don't need anymore go to bank to send money to everyone, that is the power of decentralization.
At the moment, no it is not. There is a serious work to be done technologically and in other areas like security and regulations that should harmonise and bring to conformity all the crypto dealing platforms so as to increase trust and strengthen beliefs and argument for the bitcoin and crypto in general. For now the banking system is relatively safer than the bitcoin.
Bitcoin through the blockchain technology is much safer than the traditional banking system since there is easy access to your savings, no hidden charges and there is absolute control over all your funds unlike the traditional banking system..
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
Bitcoins are not as safe as in a bank. I think investing in Bitcoin is risky because the manipulation in the Crypto market is strong. So if you do not understand the Crypto market, you should not invest in Bitcoin. You should send in the bank to be safe. This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
The bank is secure because there are peoples who control it in centralized system database, it is different with bitcoin.
Bitcoin has decentralized system, the one who must protect the wallet is the holders of the wallet itself.
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