Topic: Is Bitcoin safer than banking? - page 25. (Read 3115 times)
From the point of view of the average consumer, banks are safer than bitcoins and other cryptocurrencies. Since banks insure all deposits. Even if the bank is robbed, you can get your money. In the case of cryptocurrencies, you are responsible for the security of your funds.
I think for me, its not. Bitcoin is not safe as banks, because bitcoin there's a lot of hackers especially its in the internet not like the bank it has the best security. And if your bank collapse, the government can pay you.
You cant say bitcoin is safer than banking. In these days there are a lot of news about bitcoin scam. I think banking is more safer than bitcoin.
I think that bitcoin is not that safe as banks, because lots of hacker targeting the Btc holder event the coin was in your wallet hacker will take it all. Your bank accounts only loss when you lose your bank card, but if you have full card information then you can recover your card. 
I think that bitcoin is not that safe as banks, because bank accounts eventhough you've loss your card, you can still have access to your account. Unlike bitcoin, if your account is hacked, all the coins in your wallet would be gone.
Actually banking is much safer than the bitcoin, in cryptocurrcy ,the bitcoin investment have a risk than banking , but even if bitcoin is risky but you can still manage to absorbed the risk, just be cautious amd be safety always in every transactions.
between traditional banks and bitcoin experience many differences, among others, banks have many rules and balances that we have they can know, but bitcoin has a lot of sophistication and assets that we have they do not know, if talking about security both have the same risk but bitcoin has many private keys as wallet security, while banks have limited private keys
what you need to realize is that there is no perfect system, so subsequently there is no perfectly safe either. every system will have advantages and disadvantages, you can't just put down the banking system because there are some flaws in it. and you can't say bitcoin is 100% safe because it doesn't have those flaws.
Bitcoin and bank has a different uses. Bitcoin is not 100% safety because lots of hacker targeting the bitcoin holder like my friend even the coin was in her wallet hacker take's it all. Unlike bank has a many security and safety measures.
Peer-to-peer technology is placing more power in the hands of individuals and Bitcoin is a serious upgrade to our money.Bitcoin doesn’t have any spending limits which means you can send as much money as you need. Doesn’t this make better sense than being told how much of your hard earned money you’re allowed to spend?
I believe bitcoin is safer than bank but if your money is on bitcoin and when the price decrease your money value will going to decrease also now it is up to you what you want if keep it to bank or bitcoin
I think transactions in banks are safer then Bitcoin, because if the bank is legit and collapses, the government can refund your money but if someone hacks your wallet, no one will refund it for you.
Yeah bitcoin is secure and more reliable because of it's technology and Blockchain technology. It is safer than banking because no one can control your business.
Frauds happen in crypto too, especially in bitcoin where newbie investors get scammed all the time. I believe that this is inevitable regardless if its bitcoin or banks we're talking about because there's always one person that will not do due diligence.
Though if we base it only in the system itself, it is without that bitcoin is more secure since information cannot be altered.
Though if we base it only in the system itself, it is without that bitcoin is more secure since information cannot be altered.
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 think that it's not necessarily safer in terms of the security of your funds per se.
You're probably able to claim compensation from hacks etc. if they do happen with a bank, which means that in most cases you're covered. However, I'd say that a perfectly secured bitcoin wallet is much safer than something like a bank which incur way higher rates of hacks, and fraud, including cheque fraud and credit card fraud.
Think of it this way - would you rather trust a central entity and a central database, or a decentralised system based on cryptography? Probably the latter.
Also this is not taking into account at all the reversibility of normal fiat banking payments, as well as the fact that bitcoin is a much better store of value than fiat. These all add up to give bitcoin the upper edge imho in terms of long term security.
The whole system is decentralized thanks to blockchain technology. And for this I believe that bitcoin is more secure and reliable.
I don't think all banks would do the same thing their reputation is at stakes here and I really think that it will sure depend on the situation if you would really take that offer, I really think you should read first before making a go with it, It will depend on a person's decision if he's gonna go with the offer, But simply most banks are safer because of the security provided within it, But for me I would simply take both opportunity to take banking on both bank and with Crypto wallet, My mind set would have both fiat currency on the bank and earning profit with bitcoin while using Cryptocurrency wallet because you will never know what may happen in keeping both and having money on both bank and Crypto wallet at the same time.
I think Bitcoin is safer than banking. Bitcoin is more accessible than banking. In terms of transferring money.Bitcoin will be transact easily than banking and no need to fill-out forms just to deposit or withdraw. Just think if you want to take risk of your investment. Are you for Bitcoin or are you for banking.
Bitcoin is really cool if you want to have financial control over your funds, on the other hand, the traditional banking system always want to control hard earned money of customers. There has been some instances where people struggled to withdraw monies from their bank accounts due to technical issues from their banks but the same cannot be said of bitcoin since everything is decentralized thanks to blockchain technology.
God no, you would have to be really low IQ to think that bitcoin is safer than traditional banking
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