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    Author Topic: Is Bitcoin safer than banking?  (Read 3161 times)

    • Jokerrrrrr
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    October 01, 2018, 04:08:40 PM
     #401
    We deposit our money into banks for safety and security of our funds which makes us to feel free about our funds also it's banks responsibility to take care about our funds but we are almost tention free
    But if you keep your fund with yourself like in Bitcoin then it's your responsibility to take care of your funds, you must aware of scams and hacks, you must secure your fund as possible as you can because no one knows about your funds, it is limited to only you
    If you think that you are smart enough to secure your fund with yourself then there is no problem
    Storing our fund into Bitcoin is so easy in my opinion as there are many ways to store Bitcoins securely
    I love Bitcoin and blockchain technology and I also prefer you to do some research about Bitcoin wallets and secure ways to strore Bitcoins

  • arikassuja
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    October 01, 2018, 04:16:29 PM
     #402
    yes, of course, bitcoin is safer than banking because in my opinion, with this bitocin, you can save assets that you have in a safe way and if you save in bitcoin, you will not be taxed, while for your bank, you will be taxed every month and it makes you loss.

  • Usafstar
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    October 01, 2018, 04:37:21 PM
     #403
    Bitcoin is good i am loving it and used for a very long time for transactions and for banking i have to say that banks is controlling by central authority and here in this you have a physical existence of your wealth while it is not possible in the case of crypto because if the crypto is staled how you can recover that while the pensioner use their pension for savings and they earn a good amount over that but in crypto is not that easy so they will not understand it easily.
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  • cjinny
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    October 01, 2018, 05:35:01 PM
     #404
    Bitcoin is indeed more secure in terms of fraud like what you say. But now there are also many fake investments involving bitcoin as initial capital, so the conclusion is that the level of bank and bitcoin security can be the same, what needs to be considered is public awareness that using banks and bitcoin is always vigilant of any suspicious offers.

  • fosco333
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    October 02, 2018, 04:44:55 AM
     #405
    Quote from: ShowOffoN on September 10, 2018, 08:34:50 AM
    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 you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re 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?

    Some peoples said bitcoin is safer than banks because only you have the full control of your balance. But some peoples still think bitcoin and crypto are not safe, peoples can hack you. Well, i guess it will be depends on our knowledge how to secure our wallet to not getting hacked by others.

  • andriw
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    October 02, 2018, 05:29:40 AM
     #406
    If we seen from security in terms of saving money then I choose a local bank because the amount of our money will not decrease in value, but if we keep it in the form of BTC then the amount of money we save will change according to the exchange rate. And in my country there is an authority that guarantees security and oversees all financial service providers, if there is fraud we can report to the authorities to be processed legally.

  • iMark
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    October 02, 2018, 05:45:07 AM
     #407
    Quote from: avarnet on October 01, 2018, 04:22:25 PM
    if I don't think so because so far there are so many people who have lost bitcoin because they were stolen by people like hackers, and the bank is the safest and most trusted one to safeguard our assets
    That's because of their own carelessness, I think the bank also has the same risk of being stolen, do you know about ATM scamming or other methods of bank theft? instead, I think it's safer to store in bitcoin, I save my assets in hardware wallet and in a few years I've never experienced theft

  • kissme09
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    October 02, 2018, 05:47:51 AM
     #408
    Bitcoin may be safer than Banks, but if you use cold wallets like Nano Ledger S to keep Bitcoin, it is safe. But everything can be stolen if you save your information on the internet.
     Based on some factors, I believe banks are safer than Bitcoin.

  • MAJICOIN
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    October 02, 2018, 06:34:10 AM
     #409
    Banks are good in our country because here crypto transactions are very less and there is no physical exchange where we can convert our money and banks are safer than any other form of money keeping so i am using banks for deposits but i have investment some of my money in crypto for long term holdings and i have done many transactions in past.
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  • BlackRacerX
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    October 02, 2018, 06:56:47 AM
     #410
    Quote from: ShowOffoN on September 10, 2018, 08:34:50 AM
    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 you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re 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?

    Probably it's safer at banking if you're looking for a safer long term investment. You can never be sure with bitcoins because you might have bitcoins decline in pricing because of how volatile it is and how crazy the masses are buying in volumes. I guess it is just the fear in me that does not want to go cryptobanking.

  • Ava Duvall
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    October 02, 2018, 07:17:14 AM
     #411
    Quote from: zorchy on October 01, 2018, 11:41:45 AM
    In the course of transactions, this is much better than in banks. The advantage is that for the operation it is unnecessary to pay a commission in vat.
    Yes, transactions are quicker and cheaper but bitcoin is not for everyone to understand so that would cause a problem. also bitcoin is not that well adapted. From those aside it is in a way safer than banking

  • Andrey13101991
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    October 02, 2018, 08:25:32 AM
     #412
    And investments in bitcoin and investments in the Bank have their pros, cons and risks. It is necessary to carefully analyze all this and draw a conclusion in favor of one of them. It is impossible to say which of these two methods is the best.

  • princesspoppy
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    October 02, 2018, 08:28:09 AM
     #413
    I think bitcoin is safer in a way that it you'll take control and responsibility of your assets all by yourself, without relying to any third party. You'll know what is happening to your assets. But in case you lost access to your account, all your assets will be lost and that is what we don't want to happen, also, another risk in relying to bitcoin is the fact that it can be stolen if you are not careful enough in keeping your private keys.

  • Piggymonster
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    October 02, 2018, 08:41:13 AM
     #414
    In my opinion, bitcoin is more safer than money saved in banks. Even though bitcoin offers no insurance policy if your money is stolen or lost but it is up to you to secure your money. You must be very careful to whom your dealing with and keep your private keys secure then nobody can touch your money.

  • aileenc
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    October 02, 2018, 08:59:10 AM
     #415
    I think banking is safer than bitcoin. There is no worry that money in the bank is going to go away. Also, the bank can guarantee the funds against any fluctuations. However, you have to watch over who you are dealing with for bitcoin. It is up to you to choose banking or bitcoin. Or you can use both banking and bitcoin.

  • Callanta787
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    October 02, 2018, 12:18:33 PM
     #416
    Either bank or bitcoin human beings will always behave like one  ,they get there bank accounts hacked by been stupid so same things will happen to bitcoin wallet too , its all in our hands because if your wallet get hacked its your fault ,its just that bank is there to be blame and you can't blame anyone if your coins are gone .

  • DAVETUN
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    October 02, 2018, 09:52:02 PM
     #417

    I want to believe that the banking sector is safer than Bitcoin, The banking sector is an old platform with policies and regulations with an acceptance by government globally  which has help to enhance  security,with the banking sector fraud/scam can be trace and dictected easily, and  I hope in the near future Bitcoin will become accepted globally.

  • West0813
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    October 02, 2018, 10:35:01 PM
     #418
    For me banks are still safer for our money. Even if they give a very small interest. In case your money lost in the banks atleast you know who you can run after.
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  • jeffer8035
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    October 02, 2018, 11:01:46 PM
     #419
    Of course it is the safest thing in the world better than any bank worldwide you can place yourself the security you want and you can have thousands of wallets with the amount you want and you can encrypt them and who will steal while you keep your security that you better take care of your money and apart you can earn much more than you have if you raise the price it is very smart to have cryptoactive money in the bank and is not being pursued by the police or some government or the thieves or swindlers who rob you credit cards and make charges to your unauthorized account
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  • zwiggel
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    October 02, 2018, 11:15:03 PM
     #420
    I think bitcoin will be safer than bank if it is supported by the government. Bitcoin is highly secure to operate worldwide. There are many people who invest in bitcoin. So bitcoin must be a very powerful system for global operation.
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