Is Your Money Safer In Crypto than at the Bank? - page 62.

churaCull

newbie

Activity: 56

Merit: 0

Quote

Is your money safer...

The key word is your. I think this is the most important part of the question. When you put money in crypto, let's say in Bitcoin, it is your Bitcoin now. When you put money in bank, you give it to another person which operate with it how he want to. So don't forget about basic sequrity and stack your money in crypto - and it would be yours, and safe

jpnl0003

newbie

Activity: 196

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the bitcoin and blockchain technology characterized by the decentralized framework is far more safer and easier to keep money than the traditional banking system. every one that has a crypto currency knowledge will agree with that.

TokenForUs

member

Activity: 392

Merit: 10

Ccfound

did you trust the bank? for me i would never trust the bank again and only use their services for transfer or total withdraw only. i have bad experience with banking industry since i work also in banking industry for 8 years. blockchain technology is the safest financial service to me, if you are really care about your funds and investment do not make any step that would lead you to scam action, for example pishing by offering big discount via email or joining big profitable airdrop as they promise. not only in cryptocurrency in real world we have to be careful.

simpelplan

jr. member

Activity: 407

Merit: 2

SmartFi - EARN, LEND & TRADE

Quote from: SaturnBay on July 03, 2018, 11:14:15 PM

My money is safer at the bank than in crypto. But the profit from bank is less than crypto so much

yes, cryptocurrency is quite risky but also quite profitable
while at the bank, it is safer but only marginally profitable

buriks

sr. member

Activity: 826

Merit: 303

Quote from: SaturnBay on July 03, 2018, 11:14:15 PM

My money is safer at the bank than in crypto. But the profit from bank is less than crypto so much

I am safer in the crypto than in the bank, but I save in the local exchange in my country
the withdrawal is greater than in the bank

anucrypto

newbie

Activity: 322

Merit: 0

It is safe and secure to keep your money in the bank but in crypto it is more profitable to invest in it . You can make good money and high profit but it might be risky because it depends on price of crypto market .In bank your money is high secured with low profit and on the other hand in crypto there is high profit with low security .

Zhenka

jr. member

Activity: 362

Merit: 2

Of course it is safer to keep money in the Bank, but then another question arises. Bank interest on deposits is much less than the percentage growth of many cryptocurrencies. That is why I part of the money stored in the Bank, and the part kept in promising coins and altcoins.

gunhell16

hero member

Activity: 1666

Merit: 453

There are so many issues about lost money here in the country i am living.
There are unknown transactions in many banks and accounts.
i think i am safer in my crypto wallet as long as i am keeping my private keys and password safe and private.

HedGeng

newbie

Activity: 98

Merit: 0

Of course there will be pros and cons, because everyone will protect his beliefs. But I think it would be safer to save money in the bank. While crypto is available for those who are willing to get out of the safe area.

tinyteapot

sr. member

Activity: 1175

Merit: 275

Quote from: vike on April 25, 2018, 04:37:11 PM

I think it's safer to keep the money in the bank but it's more profitable to invested in the crypto currency market !

Yes, I agree with you because they both have different functions and are both safe. In crypto, you can make reasonable profit on your investment as long as you invest in potential projects or coin and you keep your savings in he bank for security reasons, you also get interest on your savings but it is small compared to the profit you make in crypto.

dicaprio

full member

Activity: 560

Merit: 100

Everything depends on the amount. Because now very many people will begin to seriously consider the amounts that will exceed million accounts. They will be subject to thorough verification, so now it is important that you understand the line.

vodkal

newbie

Activity: 109

Merit: 0

Every investment is not 100% safe, thats all about risk/gain. The more risk you take the more money you can make. Now the basic rule for any investor, dont put all your eggs in the same basket. Spread your investment and research a lot.

stellaekun

newbie

Activity: 234

Merit: 0

Given the fact that cryptocurrencies can grow astronomically in price within a short time,I prefer leaving much of my cash in cryptos and only a smaller portion in fiats for my daily expense,the risk/ reward ratio is worth it.

kreon112

jr. member

Activity: 102

Merit: 1

Reserve Your Ledger at GYMLEDGER.COM

I think that crypto is more reliable in this way. The secrecy is higher, but banks give percents for mi investment and I can do nothing while my money are there.

Wildskull

newbie

Activity: 238

Merit: 0

At the moment it is safer to keep money in bank. In recent months there have passed series of hacker breakings of various exchanges and purses therefore to banks it is more trust today.

cheezcarls

hero member

Activity: 2282

Merit: 659

Looking for gigs

As long you don't fall into a phishing email trap (no matter if it's a bank account or a decentralized wallet), your funds are safe. However, both of them are safe to store (except if you store crypto in an exchange which is prone to hacking). If you have a cold storage for you to keep your coins and not revealing your private information, your assets are safe. It is what I have learned through these years. Cheers!

thefatman82

member

Activity: 166

Merit: 10

Probably they are, but the obvious thing that 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.

KingElrey

member

Activity: 187

Merit: 10

no, its not safe in crypto. because there awaiting bad people looking your wallet. and also volatility market in crypto thats why risky 50-80% maybe. but you can gain much profit than bank in a short of time.. so, putting amount of money in crypto is base on your skills in cryptoworld.

delightme

jr. member

Activity: 224

Merit: 1

I think Money is Safer in Crypto than at the Bank because when you store your money in crypto wallet which you have the private key, that crypto is truly your. no one else owns it and no body will have hands on it except you permited the person. but in the Bank, the money you have in a bank is a different matter entirely. when you make a deposit, you are effectively grant the institution the right to take control of your assets. the bank loans your money to second parties, you cold wake up one day to find out that the bank is no longer in existence all your money will go with the bank.

HEvangelista

sr. member

Activity: 574

Merit: 251

Based on my experience being with other crypto enthusiasts, I believe that it is best to do day trading than long term investment of your crypto currency. If one is good at speculating which coin to market now and then sell later and one is able to get like 50% to 100% profilt which doubles or triples the initial investment then that person is doing the right thing and should not stop.

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