Topic: Which do you prefer, bank or crypto? - page 23. (Read 3908 times)
bank and crypto have very different functions, because the Bank function is a place to save money so that our money is safe and for future savings, but crypto is where we invest our money to make our money grow very much in the future, with that function I must prefer crypto, because crypto is more profitable than bank. All the money i dont need, i invest in crypto.
Cryptocurrencies are getting more, and more popular, and I love them, but still we need banks, or at least I do, it is necessary for everyday stuffs.
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?
You can have the same, I earn through crypto and save some in my bank account. Cryptocurrency wallets are susceptible to hacking, we don't actually what can happen, it can be an accident, error, or anything. It is best to secure some of your funds in banks.
Each of them has its own benefits and bad side. In banks, they can close at any time and run with your money same as with crypto when put in an exchange site but one thing to remember is that crypto is better than banks because you can hold your own coins in a wallet that is controlled by only you.
I believe that one should not exclude the second. For me, keeping the assets in the Bank has greater stability. Cryptocurrency in my case is the ability to get a good profit due to its high volatility. Security of keeping cryptocurrency could use a hardware wallet.If you are engaged in trade should allocate their scriptactive on several exchanges.
If it's just to save money I would prefer a bank, but if for investment I would prefer krypto because of the profit that can be generated from crypto. When viewed from its use, banks and crypto are two things that must be chosen, because both have their own benefits.
it is safer to keep money in banks than in cryptocurrency. Banks have been working for decades and will work the same amount. With the right approach, it is safe to store in cryptocurrency, but it is highly volatile and how you can lose your entire deposit this year. but over time you can get a good profit. if I wanted to keep money with the expectation that they might need me at any time - I would choose a bank. if in the long term I would be willing to lose them, then into the cryptocurrency
the evil in the world of crypto will have no redress and that will be borne by the owners of wallet. even when entered into the crypto then there would not have been considered capital to be stored. It would be better if just store is on the bank because crypto is devoted to saving but to multiple assets.
The Bank is much safer and easier to use, also cheaper. You don't make a lot of money with the Bank, but you don't lose your money. I keep my savings in the Bank.
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?
In my humble opinion, both have great advantages and disadvantages. Banking and crypto are both prone to scams and theft.
There are Identity theft, the chances of losing your Atm cards and also there's bank robberies.
While crypto, has cyber hacking. I chose crypto over the other because obviously, you could gain more profits in crypto investments especially from Bitcoins and other alt coins with great potential. But, only for a long term type of investments.
unlike putting money through banks where your money were being used or borrowed and put in other huge investments and they were the only one gaining benefits and profits that actually came from your money.
I believe Banks are only good for safekeeping.
This is why i prefer putting investments on crypto rather than banks.
We cannot avoid any of these whether it is crypto or bank If the bank is suspectable to lost/stolen cards & withdrawal scams, then it is same the alternative in crypto where a person can lose its private key or it can get stolen by someone.
Regarding ATM withdrawal scams in case of banks then in crypto, the exchanges might get hack and you can lose your funds.
Regarding identity theft in case of banks, then in crypto, a lot of exchanges/ICO now require an investor to pass KYC, where your personal documents might get leaked.
The good part in case of banks is that if your funds are stolen the transaction can be reversed by the bank but in case of crypto the transactions are irreversible
If you lost your ATM card, or if it gets stolen you can get your card blocked by the bank but in case of crypto if your private key gets stolen then no one can help you in this case.
Regarding ATM withdrawal scams in case of banks then in crypto, the exchanges might get hack and you can lose your funds.
Regarding identity theft in case of banks, then in crypto, a lot of exchanges/ICO now require an investor to pass KYC, where your personal documents might get leaked.
The good part in case of banks is that if your funds are stolen the transaction can be reversed by the bank but in case of crypto the transactions are irreversible
If you lost your ATM card, or if it gets stolen you can get your card blocked by the bank but in case of crypto if your private key gets stolen then no one can help you in this case.
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 prefer to put my money in both banks and crypto. around half in bank and half in crypto.
the world still needs fiat as cryptocurrency has not yet evolved fully. in preparation for our future, i will be holding some cryptos as they present a better option over fiats. to reduce chances of being scammed, use reputable wallets where only you have access on the private keys.
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?
The banking system and cryptocurrencies have their advantages and disadvantages. Still, in everyday life, we can not completely abandon the services of banks, even if we really like cryptocurrencies.
Crypto does have a variety of advantages that cannot be done by banks, but I still choose banks, because I think banks are safer than crypto, and the main obstacle of crypto is the level of security that is still very low
I find the crypto market more efficient because I like to take more risks. In other respects, we cannot achieve great returns in small investments. This doesn't take us too far. On the contrary, we can achieve this very easily in the crypto market.
Nice financial move, I’m doing it in the same way. Crypto is volatile and vulnerable for hackers attacks, but fiat is inflationary. Though, these risks have quite different natures. Still, cryptocurrency exchanges are highly concerned about safety and they’re providing 2FA for purposes of securing client accounts, which inspires more confedence. And it’s quite clear that crypto exchanges are constantly developing. Taking cex into consideration I can say that I’m close to be more sure about funds that I keep there, than about money that I have on my bank account.
Each of these investments has its pros, cons and risks. Investing in cryptocurrency is risky, but I invest most of my finances in cryptocurrency, but I also have deposits in the Bank.
Yes, it will be very difficult to make some choice. We will always need the bank services as we all use fiat but we are also used to work with the cryptocurrencies. That is why my choice is very simple: both of them.
it seems that it is the choice of each if I keep on making payments easier with the regulations in my country not being able to do much with cryptocurrency, so my crypto is good for bank investment and storage to become a habit that has become an easy way to keep payments and is still safe if use caution.
If I only want to store the money, I would like using the bank service for store it, even the bank adjudged bankrupt finally, you also can withdraw your money through the local government, but if I want to invest, I would like invest it in the crypto market.
Crypto currency has good prospects to become a decisive way to store funds. I suppose that if the banks gave an initial development to this alternative method of storage, they saw it as a direct substitute for the existing banking system. I need to store in crypto currency preferable.
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