Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when youre told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but youre eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
I do not think there is any comparison between banking and bitcoin at current situation, bitcoin is currently not a legal tender so any banking operations can not be compared to it, if we talk about fraud then its more in cryptocurrency than banking, online fraud are not common because there is high security in all data centers/ servers, fraud happens due to some negligence, currently we are opting to invest in bitcoin for a high return of our investment but the same time its a bit risky, I think considering bitcoin over banking due to online fraud is not a good idea.