Which do you prefer, bank or crypto? - page 13.

ShowOffoN

newbie

Activity: 112

Merit: 0

Quote from: Tashi on October 11, 2018, 11:02:32 AM

Quote from: ShowOffoN on September 21, 2018, 05:09:22 AM

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

Whether it’s bank or cryptocurrency wallet, as long as you don’t prioritize the security of your personal and private keys or pin it’ll never be safe. Both are fine with me since I do believe that they are just the same, it’s not about where you keep it, it’s about how you keep your profit secured.

Makes perfect sense actually reason why I asked that question. Both has pros and cons but at the end of the day, it's still us who is the main responsible in controlling the safety of our investments. That's what democracy in our funds is all about.

NikNikKomarov

full member

Activity: 378

Merit: 100

Today, the bank continues to be more popular than cryptocurrency. But over time, crypto should sotavit worthy competition of the banking system. Therefore, I prefer crypto.

ShowOffoN

newbie

Activity: 112

Merit: 0

Quote from: Bitknick on September 21, 2018, 05:45:50 AM

In my opinion, it's safer to keep funds in a bank, but it's still profitable to invest in a crypto currency!

I must agree with you. For now, it's safer to keep our money in the bank because it has insurance but maybe in the future, when technology evolves even further, hopefully something will come up for better safekeeping for cryptos. Now investment is a different thing and of course, it's cryptos for the better choice.

ShowOffoN

newbie

Activity: 112

Merit: 0

Quote from: Rati24 on October 12, 2018, 12:34:37 AM

To pay for goods in real life, it is certainly better to choose banks so it is very convenient. Cryptocurrencies are of course good that they have a low commission for a transaction, but all of it is not accepted everywhere because of this, you have to use bank cards. If the situation around cryptocurrencies improves, you can fully switch to them in the future.

Yeah but I'm asking about security and safety. Which one is safer to keep our money, in a bank that is prone to fraud or in cryptocurrency wallet which is prone to scams or losing your key? I agree with you though that Cryptos need a lot of improvements with its total systems in technology. If someday they can discover an untraceable blockchain, then we can probably say that it's much safer.

ShowOffoN

newbie

Activity: 112

Merit: 0

Quote from: Dreamchaser21 on September 21, 2018, 05:42:23 AM

Quote from: ShowOffoN on September 21, 2018, 05:09:22 AM

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

I will choose both of course because banks are still here to make us more liquid and that is the best place for now to put your big money. I treat cryptocurrency as my investment so technically I will also love to put my money here because it can easily make profit to me. Banks may not give you much higher interest but it is still safe to put your money there.

Sounds fair although there are pros and cons for both however in instances of fraud where you might lose money, I think bank is a better choice because our money has an insurance which can cover the money we lost unlike cryptos which is not regulated but has a higher chance or earnings.

otundebis

full member

Activity: 630

Merit: 100

I prefer bitcoin to banking unless if I have to use bank to convert my bitcoin or use it to buy more Bitcoin or for some other transaction is when I remember to use my bank account. Bitcoin has been my currency of choice for some time now!

St4yInTh3D4rk

sr. member

Activity: 686

Merit: 264

"STAY IN THE DARK"

Quote from: Wilfrer on October 12, 2018, 06:09:37 AM

I think the bank is safe and will not be stolen if you do not lose your ATM or VISA card. Crypto is also very secure and it is unlikely that a hacker can steal your money if you do not provide a wallet or access any bad links. But I always encourage people to send a bank, it is very safe, convenient and easy to use in life

Actually bank is not much safe and the hacker can breach the bank accounts too and it happened lot of times in the banking history so if someone want to store huge money they need to pick the secured bank which cost lot more to maintain or just pick the crypto currencies which will be very cheap by just buying hardware wallets.

kenjionline

full member

Activity: 443

Merit: 101

I keep my savings both in the bank and in cryptocurrency. Everywhere there is a risk of losing your money. Therefore, do not store all eggs in one basket. If you are afraid of leaking personal information then this can not be avoided.

popkiko

jr. member

Activity: 90

Merit: 5

In my opinion both of them is good but in terms of stability of money im in bank because when ypur money is in crypto you have chance of 50/50 to lose or to win so if you want your money is stable put them in bank

Kazkar

sr. member

Activity: 784

Merit: 250

I have several bank cards. With their help, I do a large number of operations. We have very few services for which you can pay cryptocurrency.
And if we talk about deposits, then this is definitely a cryptocurrency, and other investments. But not a bank.

^BuTcH^

full member

Activity: 671

Merit: 103

Moni

Well, I prefer crypto, because it is decentralized. Banks are ok, but it is now.
In future more people will be involved in crypto, so bank will lose positions

Wilfrer

full member

Activity: 232

Merit: 100

I think the bank is safe and will not be stolen if you do not lose your ATM or VISA card. Crypto is also very secure and it is unlikely that a hacker can steal your money if you do not provide a wallet or access any bad links. But I always encourage people to send a bank, it is very safe, convenient and easy to use in life

kiryamikronov

jr. member

Activity: 140

Merit: 1

Now I still choose banks, to store my money and use a credit card. But I believe in cryptocurrency and hopefully soon, the cryptocurrency will take the place of banks and it will be possible to store and accumulate money in a cryptocurrency environment.

Altryist

legendary

Activity: 2100

Merit: 1340

It all depends on who gives a higher percentage of income for a certain period. In general, a bank can be considered a more stable investment, but it also gives a much smaller return. If we take the crypto growth, we have not seen for a long time and only losses are taking place. It is difficult to compare these sources of investment, they are very different, the bank gives guarantees and crypto does not give anything at all except promises.

Serg33vnik

jr. member

Activity: 59

Merit: 1

Today, even housewives understand that banks can not be trusted people are prone to corruption. I believe that decentralization and the digital economy should fix it.

bitcoinm3ster

member

Activity: 409

Merit: 10

Join @Bountycloud for the best bounties!

Quote from: ShowOffoN on September 21, 2018, 05:09:22 AM

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

I have had a plan that I would store my saving money in bank but since I know crytocurrency and see its potential and profit that it will bring in the future, I decided to spend whole my saving money to invest on it

Panteleymon

member

Activity: 262

Merit: 10

Let's not be cunning and admit that the reliability of bank fraudsters is still higher. This experience gained over the years. All fraud schemes are also known. Quite another thing, if you want to rob your own state, then the choice of banks - not the best. So it all depends on the circumstances.

Oldman53

full member

Activity: 457

Merit: 100

I have a bank card to convert my crypto into fiat. Nowadays I cannot pay for anything with crypto in my country/location. But bigger part of my funds are in crypto wallet

AmericanBit

sr. member

Activity: 630

Merit: 250

I think it depends on the purpose on the transaction it is difficult to say exactly. There are some situations when you are not able to pay by fiat, for example when investing in ICOs, so in this situation we need crypto.

Mia Wallace

full member

Activity: 361

Merit: 100

I do prefer crypto than the bank since the crypto transaction is direct through the net work systems and no need of the third party interference and there will not be any transaction delay with limited processing charge.The crypto currency which can be operated world wide for the benefit of the human being.The characteristics of the above currency is much suitable to the modern era which is linked with the modern technology. The crypto currency is linked with the block chain technology , it is an added advantage for its clarity.

Topic: Which do you prefer, bank or crypto? - page 13. (Read 3889 times)