Is Your Money Safer In Crypto than at the Bank? - page 42.

Mezze

jr. member

Activity: 140

Merit: 2

Quote from: subG on July 28, 2018, 07:11:19 PM

There is no doubt that your money is always "safer" in the bank (FDIC insured) but then it will only earn you peanuts in interest. Cryptocurrencies is risky even more than investing in the stock market but the chances of making insane amounts of money is much greater.

That's exactly the main difference and you don't need any more explanation. You risk more to gain more.

olsyd

jr. member

Activity: 448

Merit: 1

It is safer to hold money in a bank, at lease because the banking area is regulated by laws, unlike crypto. Crypto is an investment tool and investments can't be without risks but sometimes, for example in crisis, it is very dangerous to hold money in banks

pacho08

jr. member

Activity: 280

Merit: 1

Right now, your banks are being attacked all the time. The hackers are poking holes in your banks and going after your fiat money. And the bankers are pounding away trying to keep the hacks away, but they are getting hacked all the time. No-one has ever hacked the Bitcoin blockchain.

pidie

member

Activity: 639

Merit: 18

as long as I join cryptocurrency, the money I keep is safe until now. but saving money on crypto security is also not guaranteed 100%. if we want our money more secure, then we better keep it in the Bank.

lonlonmarlon

jr. member

Activity: 140

Merit: 1

I think must safe to the bank because her in cryptocurrency is we have a chance to havk your wallet account but in the bank that is impossible to hack your account but it depends to you to what you want to use.

Set02222

newbie

Activity: 238

Merit: 0

think most people are more comfortable with keeping money in the bank. However, it will not be able to outperform cryptocurrency on interest rates. In part, the inflated inflation will create the opportunity to touch and store your money value in crypto is safe and effective.

XFlowZion

full member

Activity: 392

Merit: 100

They are still vulnerable to hacks so they are both completely unsafe. They just have their own advantage and disadvantage. When you put your money in the banks, if your money is stolen by hackers, the banks will replace by them. While the advantage in crypto is the convenience of transferring from wallet to wallet without going to a place to make it happen.

yourialfa

sr. member

Activity: 339

Merit: 250

I think it depends on the conditions. Whether on a crypto or bank, I think both are perfectly safe to save money or assets. However many people think that saving money in crypto is not very secure. I think it's just crap. Saving money on the crypto I think is pretty safe and can avoid the harm. People's thinking sometimes varies.

marcus_v

member

Activity: 151

Merit: 10

In terms of safety I preferred with the bank no matter what happen incase banks are rob you will still receive your money deposited and the bank are liable to return your money. In crypto the risk and volatility is very high there is no assurance that your money will be back if the price of coins is dropping. On the other hand, in crypto with regards to profit and easy access is preferred because I don't pay any taxes and at the same time I can check my balance easily.

sussan

newbie

Activity: 55

Merit: 0

I'd say crypto is just virtual money and you're not really rich until you cash out because it's so volatile anything can happen.
But banks are not a better option for an investor Because of very little profit

Brezz

newbie

Activity: 63

Merit: 0

My money in crypto: Safe
My money in the bank: Safer
My thoughts though!

amaterazu

jr. member

Activity: 407

Merit: 3

If you want to secure surely we keep the money in the bank. But if we want to develop our money, of course, we should keep it in the crypto. And can we know if its value will continue to grow and different to keep the money in the bank. Your money will not develop but will continue to be reduced since you have to pay a monthly fee.

blue08

jr. member

Activity: 322

Merit: 2

Your money is safer at the bank however cryptocurrency can give you a profit so far away of what the bank can give you in return. So if you like to earn more money, it is better to invest in crypto. But still, save some money at the bank for savings and emergency fund.

Caelanpelley

sr. member

Activity: 602

Merit: 250

The truth is that depositing money in a bank is safer than investing in the crypto world. But bank interest rates are not high while investing in electronic money is much more profitable. Want to get rich, take risks when necessary. If anyone is afraid, then how can become billionaires.

MudahDanHemat

newbie

Activity: 231

Merit: 0

Quote from: Troysen on July 28, 2018, 07:38:43 PM

I don't think that the money is safer min the crypto market or wallet as compared to banks. the crypto market is way unsafe to be trusted with a number of reported hacks happening all the times, the banking sector guarantees the security of the coins something the crypto market cannot do

It is true that cryptocurrency is not a safe place to store your wealth or assets at this time. Although crypto provides a great advantage if discussing the question of safe and not I think the bank is still declared as a safe place to store your assets. possible future crypto further improves in terms of security.

Troysen

member

Activity: 476

Merit: 10

I don't think that the money is safer min the crypto market or wallet as compared to banks. the crypto market is way unsafe to be trusted with a number of reported hacks happening all the times, the banking sector guarantees the security of the coins something the crypto market cannot do

Vness10

member

Activity: 372

Merit: 10

It's both bank and crypto is not safe now a days hackers or frauds is everywhere even in banks your money is not safe to save it their and in crypto too. But thanks to technology that you can save your money that no one can get your password and it because of crypto. Hard wallet now is more convenient way to save our savings.

johan36

full member

Activity: 602

Merit: 102

If talk about safety is clear in the bank more safe, but if you talk about investment and advantage in crypto more profitable, but remember in the crypto little bit risky .

Salloystic

newbie

Activity: 219

Merit: 0

I think the best place for Me to keep my money is bank. It will be safer in the bank than in crypto. But it will yield so much more profit in crypto than in the bank. When you keep money in the bank and thief comes to steal it you will still collect your money back but in the case of Crypto,who will you run to collect the money

trollercoaster

legendary

Activity: 1050

Merit: 1001

Money and safety are two different things. there is always a chance to lose them, so clever people do not keep all the money in one place. it does not matter whether it's a bank or a crypto currency. As far as I believe in the long-term growth of crypto I prefer it. However, the risk of some force-majeure pertains. In case of banks, funds below certain level are usually insured so you can still return them if the bank fails. Depending on the way we look and want to have progress, I usually save money, and if we want to benefit from the money it's better to invest, but certainly a lot of different opinions, but if you want to invest dicrypto will be more promising buy altcoin which has prospects for growth. and rest assured that investment will provide income. If you store your funds on cryptocurrency definitely your future is safe because theres a big potential on cryptocurrency than storing your funds on banks. It is safer if you know how to secure your wallet and cryptocurrency becomes very profitable and countries are adopting it, there is a risk investing in cryptocurrency because of volatility but it is not also 100% safe to keep it in a bank although much safer than Bitcoin.

Topic: Is Your Money Safer In Crypto than at the Bank? - page 42. (Read 9898 times)