Topic: Is Your Money Safer In Crypto than at the Bank? - page 73. (Read 9916 times)
Obviously, it is not. Cryptocurrencies are mostly volatile, as such risk is present unlike in banks where security exist. Indeed, turning or converting your money into cryptos would be profitable but still, it is also risky. If the concern is securing your wealth, banks would be a better option to do so than in cryptos.
For me, banks are the safest in keeping your money if your intention is only for saving but it's not wise to just place your money there due to very low interest and its value becomes lesser over time because of the inflation. In crypto, it was really risky to put your money especially when to do not have enough knowledge on how to wisely trade and invest. You need to have an effort to know how it really works for you to have an advantage for potential gains.
The safer for me to hold my money is the bank because it is the most secure way and you just can earn small profit on it, but in crypto is the other story because it is consider as an investment and it is a risk, you can be a millionaire or lose in instant.
Is banking the safest way? You must laugh! Over the years, banks stealthily robbed us all, offering interest on the deposit below the level of inflation. Insurance covers only a very small part of your money. Inflation for decades turns money into garbage. The hardest currency in the world - dollar is not provided with a gold reserve. I can continue for a very long time!
I don't think any system security can surpass the bank at present. After all, banks have a history of several hundred years and they have more experience. But banks will make your money less and less. They usually lend the money to the rich.
Of course, there is a lot of risk in the crypto-currency sphere, moreover, the ambiguity of the market today as a whole creates very serious risks in order to earn money.
I do not think that they will always be safer in the bank than if I kept them at my place, there is some kind of insurance in the bank about theft in crypto
Safe in what? of course it's way much safer to save your money in bank when it comes to security as bank has insurance in case if the funds got hacked and that sort of things. But if you mean safe in value, if you believe with Tim Draper's prediction then it's your choice to save your money in crypto.
I've split both my assets in crypto and banks.
I like the idea that I am the bank and responsible for all my holdings. It's my accountability to keep it safe.
I don't like the idea of the banks keeping my money, it's like I only have "rights" to it when I go to the bank or ATM machine. This is entirely true since the banks have my money and they can run away with it.
But we still need banks (for now) since we have not reached mass adoption of crypto yet. If I can immediately pay for groceries, bus fare using crypto on a day to day basis, I'll probably go 80%-90% on crypto.
I like the idea that I am the bank and responsible for all my holdings. It's my accountability to keep it safe.
I don't like the idea of the banks keeping my money, it's like I only have "rights" to it when I go to the bank or ATM machine. This is entirely true since the banks have my money and they can run away with it.
But we still need banks (for now) since we have not reached mass adoption of crypto yet. If I can immediately pay for groceries, bus fare using crypto on a day to day basis, I'll probably go 80%-90% on crypto.
I think it's safer if you keep your money in the bank, just a profit from very few banks with little risk.
if you want to look for profits that invest your money in the currency crypto but the level of risk is also quite high.
if you want to look for profits that invest your money in the currency crypto but the level of risk is also quite high.
The safer for me to hold my money is the bank because it is the most secure way and you just can earn small profit on it, but in crypto is the other story because it is consider as an investment and it is a risk, you can be a millionaire or lose in instant.
Bank is much safer than anything to invest your money. But the returns are very less or nothing. But if you are willing to take risk , then invest in crypto and enjoy your high returns.
I don't think having my money in my wallet is safer than in a bank because bank have insurance if someone stole/hack funds, if some hacker will stole my coins from my wallet I will just loose my coins.
It looks presently that your money is safer in the bank but when you look at the capitalization of these banks and there debt profile, you will realize that things are not the way they seem! Having control and custody of your fund is safer than having your fund with third party!
I don't think my money is safer than the bank. I think the cryptocurrency is not mature enough and the banking system is very mature. But your money on the bank will be devalued by the country. In short, this is an investment game.
Well there are quite a number of sectors where crypto outdo the banks but when it comes to security, there is still lots of work to be done. Time and again we have heard of crypto exchange platforms getting hacked and Millions of dollars worth of cryptos lost to hackers who unfortunately are never traced and the coins never found at all,There are also a number of cases where private wallets have been hacked and individuals lost quite a large amount of cryptos, We continuously have to worry about such losses, something that one doesn't have to worry about when dealing with Banks.
I don't think that crypto is ahead of the banks in terms of security or safety. I think it is quite obvious that there are more risks involved with crypto than with the banks. If your money is deposited in the banks, it comes with an insurance. Even if the bank goes bankrupt, you will still receive your deposit. With crypto, if hacking occurs, you will say good bye for good to your coins. However, the catch is that there is more growth in crypto even if it also involves more risks.
Money in Bank safer. I follow the rule more income more risks.
And how we know in bank less income, then less risks
And how we know in bank less income, then less risks
The history of the cryptocurrency market showed that investments in cryptocurrency are the most profitable. Despite the fact that now six months continues correction, it is necessary to understand that the cryptocurrency market is still young and has a huge potential for further growth. So I'm still sure that crypto is much better than any Bank.
My money is safer in bank than crypto. Crypto is full of uncertainty and the market can be bearish for a long time without even breaken even to the initial price you purchase your coins. Banks, are safe to keep funds for liquidity purpose, yet the interest is not great as in crypto.
You need to understand the difference between a Bank and a cryptocurrency. The Bank is a more reliable way to keep your funds as a type of earnings not good. only it will help not to waste money . but cryptocurrency is a speculative tool but very risky
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