Bank or Bitcoin Wallet?

[gkv9]

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Why do you think that people can't live with bitcoin wallet alone if they have a family with them???
I am not having a Bank account, I am using my dad's bank account to use for my fiat that I get from my bitcoin earnings, and where do I get my coins??? Bitcoin wallet, right??? Then why shall we not have a bitcoin wallet even when we have a family???
What has it to do with being alone or being a family person???

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[soros017]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

[mirakal]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

[Zitudent]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

It depends how much money you save in a bank. If that is too much, you will not be protected by bank insurance.

[1Referee]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

It depends how much money you save in a bank. If that is too much, you will not be protected by bank insurance.

That's correct, and that's also the reason for people to use several banks instead of one to store their money on. But then again, the real rich guys can't avoid having multi millions on each and every bank account as they have too much money. These people definitely face the risk of losing a major part when a bank is on the brink of collapsing.

[StoreBit]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

we are not going to compare the banks with bitcoin wallets i think we just want to know the  importance of both the banks and bitcoin wallets, because bitcoin wallet is important for keeping bitcoin because we cannot store bitcoin in banks and banks are important because we cannot store fiat currency in bitcoin wallet. so to me both are  important and have their own place.

[blackmachinegun]

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Yes thats pretty true most of us are can't use bitcoin wallet because they don't know what is bitcoin wallet is or what is it in the short some of us as trying to live using bitcoin that they can easily get money there by gambling or anything else

I think bitcoin wallet would be more useful if you live in bitcoin as a whole. but you know that now there is support to do or live in bitcoin. yeah I think certainly more people will choose a bank. in fact I believe bitcoin users must also have a bank account

[tygeade]

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Yes thats pretty true most of us are can't use bitcoin wallet because they don't know what is bitcoin wallet is or what is it in the short some of us as trying to live using bitcoin that they can easily get money there by gambling or anything else

I think bitcoin wallet would be more useful if you live in bitcoin as a whole. but you know that now there is support to do or live in bitcoin. yeah I think certainly more people will choose a bank. in fact I believe bitcoin users must also have a bank account

We need both of them, we cannot rely only on single one, at a moment fiat transactions are more in compare to bitcoin, and we also get salary in fiat which is directly transfer to our bank accounts.

[Icathia]

Bitcoin wallet seems more logical to pick cause with that you have all the control yourself and zero to the bank. If you are using a bank then essentially they own your money and will even ask where it's coming from etc leaving no privacy at all.

[bamboylee]

in terms of security, the bank is better than bitcoin wallet, because the banks protected by the government and an authorized financial institution

I disagree since the wallet protects you precisely form those banks and governments, that is something that the bank won’t do

If your bank account gets hacked then banks will stand in your support to recover your money, but if your bitcoin wallet gets hacked then there is a least chance to recover them.

Banks won't stand in your support. If it wasn't for their own advantage, they would never do it. They're helping you because not doing so would lower their reputation (imagine a website being hacked, money being stolen from users... now imagine the difference between him trying the best to take the money back and him leaving the Internet and going away with his profits caring nothing about their users). So they are both a bad option for long term (years) storage. Storing your money in  pure gold is the best option to rely on.

I do not think normal people will  be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

[dezoel]

in terms of security, the bank is better than bitcoin wallet, because the banks protected by the government and an authorized financial institution

I disagree since the wallet protects you precisely form those banks and governments, that is something that the bank won’t do

If your bank account gets hacked then banks will stand in your support to recover your money, but if your bitcoin wallet gets hacked then there is a least chance to recover them.

Banks won't stand in your support. If it wasn't for their own advantage, they would never do it. They're helping you because not doing so would lower their reputation (imagine a website being hacked, money being stolen from users... now imagine the difference between him trying the best to take the money back and him leaving the Internet and going away with his profits caring nothing about their users). So they are both a bad option for long term (years) storage. Storing your money in  pure gold is the best option to rely on.

I do not think normal people will  be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

Yes gold is an investment of rich people and not all can afford to invest in it, and I have seen many people who will prefer to invest first in life insurance and then think of other investments.

[madwica]

in terms of security, the bank is better than bitcoin wallet, because the banks protected by the government and an authorized financial institution

I disagree since the wallet protects you precisely form those banks and governments, that is something that the bank won’t do

If your bank account gets hacked then banks will stand in your support to recover your money, but if your bitcoin wallet gets hacked then there is a least chance to recover them.

Banks won't stand in your support. If it wasn't for their own advantage, they would never do it. They're helping you because not doing so would lower their reputation (imagine a website being hacked, money being stolen from users... now imagine the difference between him trying the best to take the money back and him leaving the Internet and going away with his profits caring nothing about their users). So they are both a bad option for long term (years) storage. Storing your money in  pure gold is the best option to rely on.

I do not think normal people will  be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

Yes gold is an investment of rich people and not all can afford to invest in it, and I have seen many people who will prefer to invest first in life insurance and then think of other investments.

Agree that we need first to insured our life before thinking other things, and also true that not all people can afford to invest in gold even people have more money they will prefer to invest in fast with high return of investment and bitcoin is the one they will prefer i think.

[zahra4577]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

If you will compare the bitcoin wallet to banks the obvious answer is bank is more safer, nothing can be safer than bank because our money is subject for insurance and if robberies happens or bankruptcy, we can assurance our money will be back.

But the problem with bank is your money is known to government and they can impose tax on it.If you convert all in bitcoin and keep it safely,nobody will know

[The_Dark_Knight]

each people have diffirent needs, like me im not yet married so i prefered to use bitcoin, for saving my money for long term and hidden from my future wife  

Bitcoin may be a good option to save your money long term, but to hide money from your future wife? That could work but don’t you think it’s better to not marry if you don’t trust your significant other.

[chaser15]

I do not think normal people will  be storing gold. Those are options of the rich and the wealthy people only. Both of them have their pros and cons. It actually depends on the user which benefits them the most.

That is exactly the main thing. Also people have different preferences and factors to consider on what investment they will choose.

Bitcoin or Gold, Bitcoin Wallet or Bank, doesn't make sense since were all not have the same desired. Choose what you want and I will choose what I want. Just don't say anything about negative issues for both concerns if no valid claims and suppports.

[John Constantine]

I prefer to choose both,  because I use btc as an investment  and, in the other hand, the bank  account give me the  possibility to get the physical money,  which may be obtained from btc...

[Conus]

we are not going to compare the banks with bitcoin wallets i think we just want to know the  importance of both the banks and bitcoin wallets, because bitcoin wallet is important for keeping bitcoin because we cannot store bitcoin in banks and banks are important because we cannot store fiat currency in bitcoin wallet. so to me both are  important and have their own place.

I personally have to agree with you and have to put out there that this question is a little premature.  There is not enough use for bitcoin out there yet, so choosing between the bank and a bitcoin wallet at this point would be useless.  If you could pay for everything in life with bitcoin, then there would be a debate, but you can not.  Just my opinion.

[btcking101]

In my opinion btc wallets are a safer option. In the Banks, fees are higher and there is the problem of centralization, but it's still the most practical way.

I completely disagree with you and i feel more safe in bank for putting  my large some of money than in bitcoin wallets.In bitcoin wallet we cannot meat their support staff and cant see them in our locality but in my bank i can regularily have a view there,talk to managers for any problem.Even i cannot compare banks with bitcoin wallets.

[pearnapple]

Most of us have both. Unfortunately we can't have only Bitcoin Wallet to serve all our needs nowadays. I know some people are having fun trying to live using a Bitcoin Wallet only and I also know that some of them succeed but if you have a family to care about that's impossible now.

Yes thats pretty true most of us are can't use bitcoin wallet because they don't know what is bitcoin wallet is or what is it in the short some of us as trying to live using bitcoin that they can easily get money there by gambling or anything else

you are right, though the life would be way easier if we had an opportunity to use bitcoins all the time

[livinglegend]

I use both, but I think  bitcoin wallet is the best  alternative, because of its simple  process, with no high fees  for transaction. It's not the same  with banks, especially  if you are processing  payment at higher amount.