I'm not sure how true it is but apparently, a certain Australian entrepreneur named Craig Wright had claimed in 2016 that he is Satoshi Nakamoto, the founder of Bitcoin. He had even shown evidences that he launched the currency back in 2009. https://www.bbc.com/news/av/uk-36185280/bitcoin-creator-reveals-his-identityIf it was indeed true, I don't think it made any difference anyway. |
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I used to have a sub account before was attached to the main account. I opened it online and that's where I was transferring my savings that I get from the main account which was my payroll account. I had it for years as I was saving to buy a car back then. When I was just a few days away from withdrawing it to pay my car, lo and behold! It was closed by the bank without a warning and my funds for the car were locked down. Of course I panicked and called the bank immediately who said that they don't allow sub accounts anymore. You can just imagine how hysterical I was. Anyway, to cut the story short, if cryptocurrencies already existed then, the bank would have not access to my funds.
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Everyone can invest in bitcoin. The only reason why people thinks that only the rich can make profit from it because they are the ones who invest more. Of course, the more you invest, the higher are the chances of more profit obviously. It is unbelievable to think that if you invest $500, the profit is immediately $1M. That is dreaming on.
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This is not easy to judge. They have different strategies in their approaches. One is more aggressive obviously because their leader is aggressive while the other is a little more subtle. But if I am to choose, I think I will go for China. The technologies they are developing right now are huge and simply unbelievable that could change the world soon. For me, they are the silent killer in the blockchain technology.
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Each one is different in its own way. In a bank, for example, money is safer, but investing in cryptocurrency is more profitable!
Absolutely true! Like what I said here multiple times, bank is for safekeeping and cryptocurrency is for profit but if we think about it, if only those in the right position will enhance the system for cryptocurrency, then maybe someday, it will also be a good place for storing money. |
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Every individual certainly has a different mind, if I prefer to save money in a bank, even though the benefits are few, but I feel safer, and of course the bank is now everywhere
Actually that's right. We all look at things differently although in my own opinion, I agree with you that at the present time, bank is still the safer way to store our money which is actually the question in my OP. In the future though, there is a potential that cryptocurrency system may also innovate to something better that it will not only be good for investments but also for storing money. |
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actually I can't choose between the two because I need both of them in my daily activities. I need a bank when I want to borrow money. because in cryptocurrency there are no financial institutions that can collect and lend money like banks. when saving money I prefer to keep it on cryptocurrency because if my money is stored in the crypto my money can grow quickly and I can make a big profit. instead of being kept in the bank our money cannot grow and the interest provided by the bank is only a little. when viewed from the risks both of them both have the risk of losing and can also be stolen or hacked. I think both banks and cryptocurrency can be used together without having to eliminate one of them.
That is also a every strong point. Kinda like having the best of both worlds and sometimes, even the worst of both worlds. Why not maximize the perks of both, right? In Cryptocurrencies, your money can grow on a faster rate while if you need money faster, the banks can offer it but it's also true, both are risky in their own ways. |
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Crypto is the way and nothing more, keeping your money in banks doesn't give back what you suppose have but little even if it will not be deducted, but on crypto you are sure of something in return no matter how dip or volatile it is , if you keep holding it will bring profit in no time.
Yes I do agree. As far as earning potential is concerned, the bank is nothing compared to cryptocurrency. It's just a matter of right strategy to hit the jackpot plus the democracy and freedom that it comes along with it being not regulated by any entity but how safe it is really compared to bank? |
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Banks and Cryptocurrency certainly have different advantages and disadvantages. If I want to save money, this is certainly safer at the Bank. The Bank provides comfort and security for customers. And I have also never experienced fraud like identity theft. But it's different from Cryptocurrency that has a big risk. And having a big risk certainly has a big advantage too. You can grow your money in Cryptocurrency.
I absolutely agree. Both has their own sets of pros and cons. What the other has, the other one may be missing and vice versa albeit in the future, in my opinion, if the cryptocurrency system will be enhanced further, there is a potential to also be like the bank which is a one stop shop. Safekeeping and investments. |
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Sometimes it seems to me that crypto is safer. Additionally, I know that I am getting profit when I deal with BTC and other cryptos. I do believe that Bitcoin will grow. Further, it will be gaining - BTC to the Moon!
Well good for you! I think in most cases, it also depends on how we take care of our cryptos to avoid scams and losses. I think for now, it is still safer to keep cash in the bank but cryptos are win win on growing our funds. Maybe someday, it will also be a good form of savings. |
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A deposit , of grade , a deposit that has always helped me save my cash , on the other hand now , representing any cause , various humans think that cryptocurrency is furthermore a deposit , it is not, a deposit is a entire process .
Cryptocurrency is not a deposit unlike cash. Cryptocurrency is for investment and bank is for deposits so obviously, they are two different systems for now but which one is safer in keeping our hard earned money? Bank or cryptocurrencies? |
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if i had a chance to have caputal for long term investments, i prefer to choose the cryptocurrency than the bank, because i can buy a potential coins to be able to earn profits for future and long term investments. Banks just keep your money and the investment there is just a small amount of percentage per annum. Unlike the investments on cryptocurrency, you can easily buy and trade if you had a chance for earning profits.
That's right. Cryptocurrencies are good investment. Actually, you don't even need very large amount of money to invest on it. You can start with just little amounts and then just gradually invest more. But the question here is, is it safer than banking? What do you think? |
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Bank, I can still not use crypto for anything in my country so banks are my preferred method until one day in the future maybe...
I prefer both. Although bitcoin money transaction facility is mire advance than that of bank but still their are many thing in which bank is the only trustable thing. Bitcoin is not legalised and it only in those place where Internet connection is present where as bank are present everywhere. Bank has physical form because of this it is more trusted than that of bitcoin. There are some things which make cryptocurrency better than bank is its fast and secure money transaction facility and which is uninterrupted too. Cryptocurrency make international transaction so easy in comparison to bank. I agree although of course, the topic here is which one is safer, banks or cryptocurrencies? But you're right. Since the bank is already an institution, it goes without saying that their system is much more organized and stable and that is for the present time. Looking at how technology progresses in a very fast rate, we also should not set aside the idea that cryptocurrency system will be enhanced in the future that it will become a better choice. |
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I choose both. Of course, keeping money in a bank is much more reliable but lately I prefer crypto because now the main thing for me is to increase my assets. Banks can't compete with crypto in this aspect.
That's true. Right now, their systems are totally different therefore, banking is for safekeeping and cryptocurrencies are for investing although I think in the future, the whole cryptocurrency system will be technologically enhanced that will make them also compete on safekeeping. What do you think? |
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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 wouldnt choose only one of them. banks are a safe way to keep your profit. and you can withdraw your cash fastly from banks. on the other hand crypto is the future. an alternative financial system against banks. so i would divide to two. Well said and I agree. Banking is safer when keeping our money and crypto holds a great future so balancing it will do the trick although hopefully someday, an untraceable blockchain will be used for cryptos that will make it a lot safer than it is today. |
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Many of us are using both right now because banks are stable. Crypto is not as stable as a bank but I think it has a bigger potential to increase our investments.
Yes, me too. I use both. Bank is for safekeeping and cryptocurrencies for profit although I'm hopeful that someday, things will change in the financial system of cryptocurrencies that even safekeeping will be covered. |
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it seems I prefer to use cryptocurrency but sometimes because of the influence of my neagra who have not received cryptocurrency payments, it makes me save some of the money I have in the bank so that it can be used to buy something, if you ask which one is more profitable then cryptocurrency is the answer .
Yes, as far as profit is concerned, of course it's crypto but how about if the concern is the safety and security? Would you still choose cryto over banking? And of course we are talking about the current time only because maybe someday, cryptos will be much safer. |
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Now I’ll have to Concorde my country. It’s not stated that crypto is legal or illegal yet. So with this, I save my money partly in crypto and in banks. Keeping a 50% of crypto I Store in fiat.
Ah that's a very good strategy my friend. That then balances your acts together on your money and being able to have the best of both worlds. Well done on that. Hopefully someday, the cryptocurrency will become a better choice but not sure when. |
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Many of us are using both right now because banks are stable. Crypto is not as stable as a bank but I think it has a bigger potential to increase our investments.
Yes, right now, banks are still safer to keep our money and cyptocurrencies for investments. Banking system is stable and organized and cryptocurrecy system is not but I'm thinking that there will come a time in the near future, some bigger players in technology may be able to come up with something to make it more organized. |
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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 go for crypto, because in crypto you will have a chance to get a huge profit, but in the bank your money is safe but you will get a very very small amount of profit every day, month. But in crypto you cannot say what will happen maybe your money will be lost or your money will be double or triple Yes I agree that for investing, crypto is a better choice despite of it being unstable but if we are talking about the safety of our money, do you think it's safer than keeping it in the bank? |
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