Topic: Is Your Money Safer In Crypto than at the Bank? - page 5. (Read 9915 times)
The volatility of crypto does not permit it as an asset. So keeping money in crypto is more risky than keeping it in banks. Though the money kept in crypto can double or triple in no time, it can also be lost in no time. The benefit of keeping in crypto is worth the risk. Here owner's decision is paramount.
Yes I think so. Its safe if you invest in in crypto but make sure that you know how to trade because once you ignore your investments, there's a possibility that you may loss them easily.
The money do not remain the same sell value, so if you would ever want to withdraw all your money there is no guarantee that you will get the same amount that you have put here.
While money in the bank is also safe but as years gone by, the amount that you save in the bank will cost smaller.
The money do not remain the same sell value, so if you would ever want to withdraw all your money there is no guarantee that you will get the same amount that you have put here.
While money in the bank is also safe but as years gone by, the amount that you save in the bank will cost smaller.
in my opinion it is safer to deposit or deposit money in the bank even though the profits are small, but it is more profitable to invest in the crypto currency market, maybe the bank is the best choice even though there is a very low prize and very low risk like that. thank you
Crypto-currencies, on the contrary, are more reliable than banks and better than fiat money. they have a lot of advantages. if you keep money in a bank, then they belong to the bank, but not to you.
This is just ridiculous, banks insure your fiat currency held there.. crypto has zero insurance and is a scammer haven with absolutely no recourse if you ever walk into one of the thousands of scams waiting for you out there. 90% of the ICO are scams, the masternodes are barely any better.. Keeping your money in a bank does not forfeit your right to the fiat you hold in the bank. It's like you people have never owned a bank account.
Crypto-currencies, on the contrary, are more reliable than banks and better than fiat money. they have a lot of advantages. if you keep money in a bank, then they belong to the bank, but not to you.
It seems to me that the crypt is not much better than banks as for long-term investment. I think that banks are more reliable and there you can at least save your assets.
I continue to state that in my case, a more suitable option would be to work with crypto currencies compared to bank deposits. After all, when working with crypto, I have the opportunity to flexibly control and adjust my financial operations, avoiding control by the state and other organizations.
Safer saving money in the bank. If saving money I think crypto is riskier. But if you want to invest and earn a profit. You can invest in Crypto, by investing I am sure you can grow your money.
Personally, I now prefer the option of storing my money on a bank account. Because in that case there is more confidence in banks. After all, in case of bankruptcy of the bank, it is possible to receive compensation from the state or insurance companies.
my money is safer in the Bank. this is why banks have created that people can safely keep their money. keeping money in cryptocurrency is very risky, because it is not known what will happen to it tomorrow. it will rise in price or fall.
Consider. as in the crypto currency, and the Bank conditions are not safe for the storage of funds. We can expect inflation and the collapse of the exchange rate, which in the end can lead to a loss of cash savings.
Both options are clearly not ideal, have their own important shortcomings. If you want to be more or less confident in protecting your money, you can work with banks. But I personally prefer to avoid control by the state, and also earn a little, so crypto is best for me.
I think the bank is the safest place to store your cash. Your money is safer and easier to access in the bank than in the password.
Do a good research before putting money into a particular project, and there are opportunities to profit from your crypto investments.
Do a good research before putting money into a particular project, and there are opportunities to profit from your crypto investments.
Tim Draper: More Secure in Bitcoin Than the Money Sitting in Wells Fargo
Venture capitalist Tim Draper is bullish on Bitcoin and believes it will reach $250,000 in the next four years.
During a debate hosted by Intelligence Squared and the Adam Smith Society, Tim Draper was asked how Bitcoin compared with his previous tech investments in Hotmail, Skype, and Tesla. He replied bullishly, saying, “Bitcoin will be bigger than all three combined.” However, Draper didn’t leave it at that — he thinks it will be bigger than the iron age, the Renaissance, and the internet and says that the nascent technology will affect the entire world in a faster and more prevalent way than ever imagined.
The Debate: “Bitcoin is more than a bubble and here to stay.”
Backed up by Patrick Byrne (CEO of overstock), Draper took on Financial Times journalist, Gillian Tett, and Professor of Law, Eric Posner, both of whom argued that Bitcoin is indeed a bubble and strongly contested Draper’s claims. Posner and Tett called into question the “strengths” of Bitcoin, arguing that they could be regarded as weaknesses. Posner suggested that the pseudonymization of identity enabled by the technology makes Bitcoin transactions the perfect vehicle for sophisticated criminal transactions. Tett focused on the risk involved with trusting computers with finance as they can be hacked, are prone to faults, and that Bitcoin is a “terrible store of value.”
These arguments won’t be anything new to anyone who has studied the space, and the rebuttals of Draper and Byrne won’t come as a surprise either. The pair acknowledged that Bitcoin was imperfect and drew attention to the fact the technology was designed to be open source so that unforeseen problems can be managed by the community. Byrne also pointed out that although Bitcoin has been “hacked at” more than anything in history, but unlike banks, it has yet to be defeated.
Draper was more brazen in his responses and implored the crowd to use fiat if they were looking to facilitate their own criminal activity as many Bitcoin criminals get caught. The venture capitalist responded to Tett’s admission that she invests in several different fiat currencies by saying, “I’m so much more secure in my Bitcoin than I am in the money that’s sitting there in Wells Fargo.”
Who is right?
The short answer is it’s far too early to tell, but it is good to see the subject being discussed in this manner. Before the debate, Gillian Tett remarked that if both sides of an argument aren’t heard in the same room, on the same day, then the conversations can “go past one another.” It’s probably safe to say she’s right here because, although there is no shortage of media on either side of the argument, real debate on the subject can be difficult to find.
If crypto is going to head down the road Draper expects, its advocates need to be able to argue their case outside of the crypto community, and debate should be welcome as it not only gives both sides the ability to speak but also the ability to listen.
Draper’s comments are to be expected
As crypto enthusiasts, it’s easy to agree when figures like Draper sing the praises of Bitcoin, but we shouldn’t let confirmation bias get in the way of the issues. Draper is a successful investor, and he hasn’t arrived there without making mistakes. He could be wholly right, wrong, or somewhere in between — the latter is most likely. Draper allegedly owns 30,000 BTC, so he has a vested interest in Bitcoin’s success. That does not mean he is wrong, but it does mean his comments should be taken with a pinch of salt. Well-reasoned arguments are far more convincing than hype and chest beating because they allow people to make up their own minds.
The emergence of DLT might eclipse the impact of other innovations, but for now, the emphasis is not on critics to prove the crypto community wrong. It’s up to those who champion DLT to convince the world they’re right.
Originally published at cryptodisrupt.com
Venture capitalist Tim Draper is bullish on Bitcoin and believes it will reach $250,000 in the next four years.
During a debate hosted by Intelligence Squared and the Adam Smith Society, Tim Draper was asked how Bitcoin compared with his previous tech investments in Hotmail, Skype, and Tesla. He replied bullishly, saying, “Bitcoin will be bigger than all three combined.” However, Draper didn’t leave it at that — he thinks it will be bigger than the iron age, the Renaissance, and the internet and says that the nascent technology will affect the entire world in a faster and more prevalent way than ever imagined.
The Debate: “Bitcoin is more than a bubble and here to stay.”
Backed up by Patrick Byrne (CEO of overstock), Draper took on Financial Times journalist, Gillian Tett, and Professor of Law, Eric Posner, both of whom argued that Bitcoin is indeed a bubble and strongly contested Draper’s claims. Posner and Tett called into question the “strengths” of Bitcoin, arguing that they could be regarded as weaknesses. Posner suggested that the pseudonymization of identity enabled by the technology makes Bitcoin transactions the perfect vehicle for sophisticated criminal transactions. Tett focused on the risk involved with trusting computers with finance as they can be hacked, are prone to faults, and that Bitcoin is a “terrible store of value.”
These arguments won’t be anything new to anyone who has studied the space, and the rebuttals of Draper and Byrne won’t come as a surprise either. The pair acknowledged that Bitcoin was imperfect and drew attention to the fact the technology was designed to be open source so that unforeseen problems can be managed by the community. Byrne also pointed out that although Bitcoin has been “hacked at” more than anything in history, but unlike banks, it has yet to be defeated.
Draper was more brazen in his responses and implored the crowd to use fiat if they were looking to facilitate their own criminal activity as many Bitcoin criminals get caught. The venture capitalist responded to Tett’s admission that she invests in several different fiat currencies by saying, “I’m so much more secure in my Bitcoin than I am in the money that’s sitting there in Wells Fargo.”
Who is right?
The short answer is it’s far too early to tell, but it is good to see the subject being discussed in this manner. Before the debate, Gillian Tett remarked that if both sides of an argument aren’t heard in the same room, on the same day, then the conversations can “go past one another.” It’s probably safe to say she’s right here because, although there is no shortage of media on either side of the argument, real debate on the subject can be difficult to find.
If crypto is going to head down the road Draper expects, its advocates need to be able to argue their case outside of the crypto community, and debate should be welcome as it not only gives both sides the ability to speak but also the ability to listen.
Draper’s comments are to be expected
As crypto enthusiasts, it’s easy to agree when figures like Draper sing the praises of Bitcoin, but we shouldn’t let confirmation bias get in the way of the issues. Draper is a successful investor, and he hasn’t arrived there without making mistakes. He could be wholly right, wrong, or somewhere in between — the latter is most likely. Draper allegedly owns 30,000 BTC, so he has a vested interest in Bitcoin’s success. That does not mean he is wrong, but it does mean his comments should be taken with a pinch of salt. Well-reasoned arguments are far more convincing than hype and chest beating because they allow people to make up their own minds.
The emergence of DLT might eclipse the impact of other innovations, but for now, the emphasis is not on critics to prove the crypto community wrong. It’s up to those who champion DLT to convince the world they’re right.
Originally published at cryptodisrupt.com
Honestly, I find it safer in the bank rather than having my money on cryptocurrency. You'll never know when will the token or the alt coin will ever plateau and fall down in pricing. That's how unpredictable and volatile the market is for cryptocurrency. I think it's pretty much safe in the bank.
Either way bank are safer since the bank is accountable for your money is something happen without your authorization... But earning on bank is little if your not going to move them..
In crypto side you can earn as much as you can but risk and safety is a little bit risky...
In crypto side you can earn as much as you can but risk and safety is a little bit risky...
For me, banks are the most secure in keeping your cash if your expectation is just to spare yet it's not shrewd to simply put your cash there because of low premium and its esteem ends up lesser after some time as a result of the swelling. In crypto, it was extremely hazardous to put your cash particularly when to don't have enough information on the best way to astutely exchange and contribute.
I think it still safer to keep your money in a bank compared to crypto...Besides, you can go to your bank anytime you want to check the status of your money...
No, I don't think so. I think banks will be safer and there are certain risks in the encryption market. For example, this year's encryption market, which has caused many of us to lose a lot. Because the price of cryptocurrency has continued to fall in this year's market, and has not recovered.
If your aim is to store your coins in a safer way, it is still a good way to store and hold it in the bank rather than converting your money into cryptocurrency and hold it in your wallet. In crypto, the value may rise, but the risk of it is too high.
For me it really depends on where you store your currencies. If you store them in an exchange and it gets lost like Mt.Gox all your funds are lost, so bank is safer. But if you handle your currencies right, you will have safe currencies, too.
It seems to me has no difference where exactly you keep the cryptocurrency. Glavno, that you store the money in cryptocurrency, and it is very unpredictable. Jump to: