Topic: Is Bitcoin safer than banking? - page 21. (Read 3101 times)
Banks is safer as long as you deposited you money to the most trusted and reputable banks in your place. Banks cannot be easily hacked because they spend lot of money just to hire the most IT experts and to buy the most advance cyber threat security so that our money will not be steal easily but even someone successfully hack the banks but still our money was already insured unlike Bitcoin in which lot of known exchanges are already hacked in spite of their defenses which is sometime i think it was an inside job and our Cryptos are not insured.
Well, it highly depends on the particular banking system. For underdeveloped countries, btc-related risks are lower than risks of money no-return by banks. BTC deflation nature also counts.
For a separate subject is without a doubt. Bitcoin gives anonymity, independence from the external manager, reliability of preservation. Of the disadvantages while the complexity of the treatment.
Is bitcoin safer than banking? Well in my own opinion. Its your choice if you think bitcoin is safer than banking. But if you ask me I choose banking I think much safe if my money I'll put in a bank. Well this is my own opinion only.
Bitcoin is safer than bank when identity and information are strictly confidential. There are a lot of cases that happen when the bank account information is revealed and you do not know the bad day, your property suddenly disappears and you have to wait for the investigation. You worry and nervous when such problems occur.
Bitcoin security depends entirely on the user, a tech savy person will use both hardware wallets and cold storage for added security, while noobs will probably forget it or email their keys to their friends for extra security. Safer than banks? yes and no
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?
well it depends extra security applied on crypto will be great like 2fa or authenticator, how ever lets admit it be aware to those hacker keep your credential on only one computer, bank is a good place to keep your money safe but if there is a robbery at that bank or any anomalies its pretty hard to trust another bank again. 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?
Both BITCOIN and Banking are safer interms of saving money/digital money currency. It depends on how you manage your savings, always make it privacy your password/pin code/key/personal info/etc.
For me no one can guarantee 100% security for Bitcoin and banks, Bitcoin and banks have their own strengths and weaknesses, so nothing is truly safe. You can't just put down the banking system because there are some shortcomings in it. and you can't say that bitcoin is 100% safe because there are hackers who can take your Bitcoin.
With the amount of profit that a person can earn from bitcoin within the shortest possible, I think that bitcoin is sweeter than Bank investment. But in any business avenue, the higher the risk, the higher the profit. I believe that you can suit yourself now.
I think 100% bitcoin is safer than banks, because bitcoin cannot be hacked, it's just hacked if people keep complete data on bitcoin wallets easily, so I suggest storing complete data on bitcoin wallets in a safe and confidential place.
Bitcoin is decentralize no one can get what you have on your wallet even your criminal. your a prisoner no one can get it even in a Supreme Court. Supreme Court has the power to freeze you account because your accused on a crime that gives them authority to your account on the bank just a little agreement signing paper it can work but on the bitcoin even your dead no one can get it as long you are the one that know about it. The only thing that can way to get someones bitcoin is stupidity for being careless and get it hack.
bitcoin characters is anonymous, so hackers will find it difficult to hack bitcoin wallets.
so, I think bitcoin is very safe, and if we compare that hacking bitcoin asset is smaller than hacking that occurs in each bank.
I agree.It's more safe to entrust your assets into your bitcoin wallet than putting it all in a bank.Many people may have trusted banks for a long time since there is no other option,but this time crypto wallet is already here wherein you have all the full control of your own assets.But still you should also be responsible for the security of your own wallet. so, I think bitcoin is very safe, and if we compare that hacking bitcoin asset is smaller than hacking that occurs in each bank.
I think decentralised investment got a bigger risk than centralised one, if you are talking about fraud then there are a lot of cases in crypto, when you become the victim of crypto you wont be able to do anything because there are no regulatory body, identity theft could also happened in crypto when you joined kyc bounties, so crypto is not totally safe, if you talking about safety I think bank is better, but its all depend on how careful you are
the security level of crypto wallets especially bitcoin is impossible to penetrate because the blockchain is desian for it. recording on almost all blocks and verified this generally makes us very safe.
That depends on how careful you are in your assets. There is nothing wrong with banking and conne t it to online banking and download bank apps for you to chexk your accoint regularly. Bitcoin also can be check regularly because it is just in your gadget with the use of internet. Both can both be operated in internet, the only difference are the transaction fees. Both safe and both risky. It is up to you to handle.
I think both of them are the same, they have the same shortcomings as the security system, I don't see one of them being superior, the fraud will occur in both as long as there are gaps that can be penetrated by the hackers that will continue to occur, it's hard to prevent that because people the irresponsible people who are smart and very understanding of technology, the more sophisticated the system, the more intelligent they will be
Bank system is safer than Bitcoin if we look through the "mistakes" perspective. When sending Bitcoins you need to be very careful, once you hit the "send" button it's done, irreversible... At banks there are more guarantees you won't commit any mistakes: you put account number, agency, name of the recipient, and even if there is a mistake after all, you can contact the bank and they may accept reverse the transaction for you (depending the situation, of course).
But at banks you don't have any privacy and it's not considered safe in many cases...
But at banks you don't have any privacy and it's not considered safe in many cases...
I think that yes, it is really safer than banking today because it is popularity is increasing and I am sure that coins will be popular in the future for long time. I will invest in them soon
Hello,
As soon as you secure yours wallets I think they are at the minimum as safe as banks. If you keep your credentials secret, be carefull of where you are going with your computer and avoid scams there is no risk of trouble.
If you compare to credit/debit card using yes I think it is safer as there is no possible copy or hacking of yours wallets with the required safety rules.
As soon as you secure yours wallets I think they are at the minimum as safe as banks. If you keep your credentials secret, be carefull of where you are going with your computer and avoid scams there is no risk of trouble.
If you compare to credit/debit card using yes I think it is safer as there is no possible copy or hacking of yours wallets with the required safety rules.
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