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?
I don't agree with you. If the number of fraud happing in traditional banking system is let say for example 2 billion dollars, then the one happening in crypto is quadruple. If people thaf have been scammed in crypto related fraud can some out and speak, many people will run away from cryoto. I know someone that will never come back to crypto regardless of how much profit he could get because of the amount of money he has lot to cryptocurrency. So, crypto fraud is more than traditional bank fraud.
. Well, if nothing safer between bitcoin and bank, at least both of risk that you mention is from user, bitcoin can be hacked if user careless to keep their asset. And bank it is hard to get bankrupt if no big problem happen. 
