I think the answer to this question is largely down to perspective.
In a country like Nigeria where crypto still has strong reservations from the government, your money is safer as fiat than crypto because a regulation can arrive to ban crypto outrightly.
But else where since you have your wallet and most better an hardware wallet, then your money is very safe.
Topic: Is Your Money Safer In Crypto than at the Bank? - page 92. (Read 9898 times)
Of course cryptocurrencies are not safer than banks. The banks guarantess everything to you but there is no such a guarantee in cryptocurrencies. It is possible to lose your asset if you do a mistake
I do not go to extremes. It seems to me that you should keep money in different as they say baskets. Diversification is the basic principle of investing and storing your savings. So keep your money in both banks and cryptocurrencies.
There is opportunity cost of holding your money at either a bank or storing it in crypto. As a result, I don't keep all my funds in bank neither at crypto. I mostly save what I can afford to lose in crypto and what I need for my daily transactions at banks. I feel safer for bank than crypto, but both can be risky .
Your money is definitely safer in the bank than in cryptocurrency wallets. Banks are insured and you're protected from fraudulent transactions. However, if you ask, which will give you potential higher gains, the answer will be cryptocurrencies.
People both want to have their money secured an gain big profit at the same time but I am afraid that neither banks or cryptos can have both. Just like what they said, banks are more secured but cryptos give bigger profits. It seems hard to choose but for me I will choose both. I am managing my money earned from different campaigns by keeping a portion in an online wallet and when I gained something, I sell it into fiat that will be deposited in a bank. This way, I both have the benefits that the two methods are offering.
i BELIEVE our money is safer in crpto than it is in banks, The crypto system is hack proof guaranteeing security for the coins from theft, a surety that banks cannot guarantee, they are then free from central control which will tax them and re invest them without our acknowledgement. Banks are just exploits who take advantage of the situations and use our money to enrich themselves, i'd rather have my money in crypto where i have complete control over it and can access it anytime too.
Keeping our money in the bank, we have inflation but more stable in the value and decreasing because banks fee. In Crypto, we can gain profits but we have risk lossing our money because the price very high volatiling.
But potential earning more money in cryptomarket is more bigger because cryptomarket is growing market and the price always increasing
But potential earning more money in cryptomarket is more bigger because cryptomarket is growing market and the price always increasing
I am in love with Cryptocurrency. All safe, comfortable, and happy in the world of Crypto. While the bank will make me confused. But they have the same thing about security. Just different advantages.
If we are talking who is the safest among the two. For sure it is the bank, no hackers can attact your money, if herr is a possibility to loss money it is because of being careless. In crypto is just much profitable than bank but it has a risk because online is full of hackers. Very very pro, look some exchange and myetherwallet that is recently have an attack. Seems these website is full of security but hackers might affect it. And our wallet is just containing privatekey. Crypto has a big risk to put money
Your money is definitely safer in the bank than in cryptocurrency wallets. Banks are insured and you're protected from fraudulent transactions. However, if you ask, which will give you potential higher gains, the answer will be cryptocurrencies.
Banks and cryptocurrency has different specifications mate. In banks, our money have a litte bit percentage if profit when we will put it into it while in crypto, prices are volatile because at anytime it will increase or decrease, depends on how markets is now.the good thing in cryptocurrency is, if you have enough knowledge on it, sure that you will gain more profit compared to any banks you will deposit
I think banks are the safest place to save money, because the number of burglaries in banks is very small and since the bank can return your money if known that their fault. but if you want to double your money with a larger value, crypto is the place to copy it! but here there is no guarantee.
In my opinion the answer is not. When you put money in a bank, you nearly has 100% safety of that. When you put money in crypto, if you lost the private key, hacked, or put in a risk exchange, you have the much more chance to lost your money.
Banks are always safer places to store money and keep them away. But the money in the bank will earn very little, so investing here is a lot more profitable, but riskier.
The bottom line is that the money are safer in banks.
The bottom line is that the money are safer in banks.
I think in the long run my money remains safe, the worrying crypto is when the need comes suddenly but the price is unfriendly will automatically lose the exchange rate. store in the bank and in crypto equally less, its security depends on us who arrange it.
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
When it comes on securinng yor money in terms of where you will store it, banks is way safer than on converting all of your wealth into cryptos. First of all, banks are supported by the governments so security is obvious. While given that cryptos are naturally volatile, the changes on its market value from time to time is a risk that would might result into huge profit loss. 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
I do not trust banks, but on a cryptocurrency wallet I'm the only person who is responsible for their own funds, so I prefer a cryptocurrency wallet
I am all for crypto, but having money in the bank and having money in cryptocurrency wallet are totally different things.
I am investing here, but I have money on the bank that I use for daily expenses, living cost, buying car, tv, computer, whatever. Money in crypto have a lot different purpose for now.
It is important to have money in the bank, because they are safe there and the amount is not going to be bigger or smaller tomorrow or the day after.
May be no because if its in bank its like insured but in crypto wallets,its not like that because we have seen many hacks in crypto world. I guess ledger wallet is quite safe then other wallets.
If you hold the private key and have decent backup crypto is the securest. Money in bank is the least secure worse than gold or land.
Banks today have become a really safe place to store money. Especially when storing large deposits. But crypto is more attractive for earnings on its investments.
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