Topic: Is Bitcoin safer than banking? - page 18. (Read 3115 times)
Both are risky. But if I have to choose, I'll prefer in bitcoin because of no bankruptcy unlike in the banks. And besides, if you are saving money in the banks, the annual interest is too little and you can't even withdraw it right away if you need cash in emergency cases especially you are in a time deposit savings. And in terms of convenience, bitcoin is more convenient than the banks.
I strongly disagree with this. No matter how secured we say Btc is, it cannot be too safe than banking. Have you considered the numerous hacking incidences. The least mistake you make to let your private key out, the end for you. We can even misplaced our private keys and I have seen several threads asking how to recover private keys.
The whole system is decentralized thanks to blockchain technology. And for this I believe that bitcoin is more secure and reliable.
i totally agree with you. For me, bitcoin is worth trusting and safer than bank
I believe bank is safer than bitcoin because the security system of banking is visible and also controllable but bitcoins security system is hard but invisible.
In banking we know that all banks is safe a lot people all over the world trusting bank because it is a registered and have a licensed to operate in the country. In bitcoin not all country accepted this. So 50 percent safe because we know that the bitcoin price is volatile. But they have a tendency to double your investment in bitcoin.
in my opinion, banks are safer to save money, but in terms of the benefits of investing in bitcoin it will be very profitable, but in terms of security the two are very good.
Banking is well regulated and there is no anonymity. Therefore, the level of accountability required from the players in the banking industry is high which means that financial crimes can be prevented. Cryptocurrency is not regulated and it is anonymous. This makes it easy for criminal to carryout all manner of crimes. Banking is safer.
In banking we know that all banks is safe a lot people all over the world trusting bank because it is a registered and have a licensed to operate in the country. In bitcoin not all country accepted this. So 50 percent safe because we know that the bitcoin price is volatile. But they have a tendency to double your investment in bitcoin.
For me, yes bitcoin is safer than banking. Because when you get an income in bitcoin, there is no charge and no fees to pay, while in banking, your savings will be reduced every month and you need to pay something before you use their system. Bitcoin for me is a lot safer than banking.
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Is Bitcoin safer than banking?
Yes.Bitcoin cannot be arrested, confiscated, taxed, inflated.
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?
I think Bitcoin and its wallets are safer to use than the banks. With Bitcoin, you are your own bank. You control everything by yourself without any restriction from someone. 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 me, I will never choose a bank when I have those two options. This is because looking at the bank the money can burn anytime and also there can be a robbery at the bank and moreover, they will give you a low percentage as compared to the bitcoin ecosystem.
Bitcoin is unique in nature and safe to use it belongs to no one but you and you can buy almost anything for it but only need to store it on a cold wallet for security ! Bitcoin is better than any Bank but it will not replace them yet.
Bitcoin as well other cryptocurrencies were more secure than the banking system. Bitcoin being decentralized has made people have trust over banking than cryptocurrency which is completely backed by technology and it provides with an efficiency in functioning which cannot be obtained through any other means.
I also think that way.Bitcoin is more safer than banking system because it gives us the full responsibility to manage our own accounts and if happen to being hacked or scam,i think it's already the owner's fault.Banks may have lot of strict security measures but still in the end,numerous frauds are still happening up to this days.
Bitcoin or cryptocurrency in general is not only safer but faster, more reliable than banking.just has how email is today instead of Post office.
I can just email someone to send me some cash and he/she gives me in Bitcoin within minutes.
That's something that can never happen with banks.the advice I will just give to hodlers of Bitcoin is to get a offline secure wallet.
I can just email someone to send me some cash and he/she gives me in Bitcoin within minutes.
That's something that can never happen with banks.the advice I will just give to hodlers of Bitcoin is to get a offline secure wallet.
of course。btc its based on blockchain！
In general putting yoir money in bank is far safer than investing in bitcoin thoufh the interest is low the risk is also very slim sincecyour money is secured in bank unlike in bitcoin where volatility and risk is very high the only goodcthing in bitcoin is you may earn huge profit oncearket is bullish or you may also loss your money if market is bearish.
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?
I don’t think so that this in any way has any relevancy to bank frauds. I think this is a perfect example of utter ignorance or foolishness on the part of human beings. I mean it is obviously a person’s fault if he falls prey to such scams. Criminals or scammers are present in almost every field be it banking or crypto industry. So it is important for us to be careful and attentive. Doesn’t matter whether your funds are in banks or crypto 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?
there are many factor that makes bitcoin is better than bank, or bank is better than bitcoin, some people said bitcoin is more secure than bank is because they use the blockchain system, but we will see in the bank that they have the team that manage the problems in banking system, if any problems (fail transaction, fail transfer, etc) there are people that will manage it, and of course bank is watch by the government, so bitcoin vs bank? who is better?
NO, bitcoin is not safer than banking because with the banks your funds are secured from any sort of volatility but in cryptocurrency it is under the full swing of volatility. Anyway i still prefer investing into bitcoin other than the banking system.
Of course the bank is safer than bitcoin, as we know that the price of bitcoin is like a roller coaster so when we invest in bitcoin the heart stops when the price drops more than 10%.
In investment, of course we must always be prepared with risk, bitcoin is a high-risk type of investment so we must always be wise in placing money in bitcoin, while banks are the safest investment because it is fully guaranteed by the government.
NO, bitcoin is not safer than banking because with the banks your funds are secured from any sort of volatility but in cryptocurrency it is under the full swing of volatility. Anyway i still prefer investing into bitcoin other than the banking system.
Of course the bank is safer than bitcoin, as we know that the price of bitcoin is like a roller coaster so when we invest in bitcoin the heart stops when the price drops more than 10%.
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