Bank or Bitcoin Wallet?

[roby25]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

[Imoote]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

True both have their respective roles that I've found useful. Banks can save our money with security so it is suitable to keep money in the bank. And I use bitcoin for investment because we can take advantage of the fluctuations of bitcoin so it can be profitable.

[chaser15]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

True both have their respective roles that I've found useful. Banks can save our money with security so it is suitable to keep money in the bank. And I use bitcoin for investment because we can take advantage of the fluctuations of bitcoin so it can be profitable.

And I don't see any valid basis why people claims that banks are stealing away their money. They can file a lawsuit here to protect their rights. And no way banks will give rubbish to their name with just a small amount as their asset is very huge and large.

[madwica]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

There is no doubt that the bank is much secured because it has insurance of your money and also there are policies that you are the only one who can ask about the details of your account. while in bitcoin the dev will control your money and you do not know who they are.

[vero]

Exchange sites is almost like bank though you just don't earn interest when you store btc to them every year but somehow its like a bank, same thing when you store btc/coins on some online wallet. but a lot of us prefer to leave our coin on exchanges particularly traders.

But that's right the exchange site is like a bank but need to underline if you losing your funds in them, whether a guarantee for that? because that is very important.  


traders I prefer to leave their coins in exchanges because they consider about the fees they will get if making any transaction. maybe just a little but for a long time it's very enough amount.

With what have happened to bitfinex, I think we should all be warned in leaving money in exchange sites. It is better to store them on cold wallet so they will not be lost or hacked. We should protect our hard earned bitcoins and not leave them on third party wallets or exchanges.

Well, that is the risk but for the exchange sites, they need to improve their security and maybe provide insurance for the members to regain the trust of the people, sometimes traders does not anymore transfer their bitcoins to their cold wallet for them to be comfortable in trading as they do not need to transfer all the time.

Everything will eventually fail, it's inevitable. We're not all perfect and something will always happen.
It is your own risk to store bitcoins in an exchange, there has been plenty of warning not to, and people always ignore it.

Exchange sites did better used just for trading, and after that we have to quickly move all the funds that we use for trading (when finished) in order not to experience it. This may be a bit of a drain of funds we have, but this is the best way to secure a bitcoin

yes i think it is the only way to avoid the exchange from hacker target not because we not trust with exchange site but there have been many such cases in recent years.

[chaser15]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

There is no doubt that the bank is much secured because it has insurance of your money and also there are policies that you are the only one who can ask about the details of your account. while in bitcoin the dev will control your money and you do not know who they are.

You can also have your money back if ever the bank will goes into a fraud one since bank users are protected by laws per country. Banks have lots of assets to be sold off so you have really a big chance to get back what will loss.

[mishra1994u]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

There is no doubt that the bank is much secured because it has insurance of your money and also there are policies that you are the only one who can ask about the details of your account. while in bitcoin the dev will control your money and you do not know who they are.

Mee to,my money in bank then i will it the most safe place for my money and surely its the most safe place to hold our money rather than holding bitcoins in the wallet.Bitcoin wallets can be hacked and we could go no where if out bitcoins in wallet are stolen.So whenever i have some good amount of bitcoin i always convert them to fiat and then withdraw to my bank account.

[Labumi]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

There is no doubt that the bank is much secured because it has insurance of your money and also there are policies that you are the only one who can ask about the details of your account. while in bitcoin the dev will control your money and you do not know who they are.

You can also have your money back if ever the bank will goes into a fraud one since bank users are protected by laws per country. Banks have lots of assets to be sold off so you have really a big chance to get back what will loss.

Yeah, indeed lost in a bank is much more profitable and will certainly get indemnity against the problems we do. Unlike the bitcoin, all the problems that we have experienced in the bitcoin will not get compensation because the bitcoin has no definite laws. using bitcoin only for profit and then move all the money into fiat is better

[takingthis4]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

bitcoins are not secure at all because they can bankrupt easily and you would lose money, bitcoins are way safer to be honest thats why i use it

[elyas772]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.
[/quote]bitcoins are not secure at all because they can bankrupt easily and you would lose money, bitcoins are way safer to be honest thats why i use it

im confused with your opinion, are you thinking bitcoin is safe and secure ? or bitcoin is not a secure place?
i think both of them (bitcoin wallet and bank) is secure if you can safe the password and your internet connection too.

[coolakid]

Bitcoin wallet is much safer and it doesn't cost any monthly fees unlike those banks with high unknown future risks.

[richmcrich]

Bitcoin wallet is much safer and it doesn't cost any monthly fees unlike those banks with high unknown future risks.

I'm not familiar with banks that you pay for since all banks in our place actually gives you interest for using their banks and I've never had any problems with them, nor my family. For that reason, I'd still use banks over bitcoin wallets since the risk of losing value of bitcoin isn't something that you can just accept when you're holding huge amounts of bitcoins.

[MingLee]

i rather choose bank because i feel its more secure. I use bitcoin for my investment and after that i cashout and deposit to my bank account to secure my money.

bitcoins are not secure at all because they can bankrupt easily and you would lose money, bitcoins are way safer to be honest thats why i use it

They don't bankrupt easily lol, bankrupting is when you don't have enough money to pay something back and you have to say you have absolutely nothing left in your wallet. Bitcoin is volatile and might lose you some money in the short term, but over a longer period of time there's nothing to say that you won't get your returns back. But your statement confuses me because you mention only Bitcoin in a negative and then positive manner.

[sana54210]

Exchange sites is almost like bank though you just don't earn interest when you store btc to them every year but somehow its like a bank, same thing when you store btc/coins on some online wallet. but a lot of us prefer to leave our coin on exchanges particularly traders.

But that's right the exchange site is like a bank but need to underline if you losing your funds in them, whether a guarantee for that? because that is very important.  


traders I prefer to leave their coins in exchanges because they consider about the fees they will get if making any transaction. maybe just a little but for a long time it's very enough amount.

With what have happened to bitfinex, I think we should all be warned in leaving money in exchange sites. It is better to store them on cold wallet so they will not be lost or hacked. We should protect our hard earned bitcoins and not leave them on third party wallets or exchanges.

Well, that is the risk but for the exchange sites, they need to improve their security and maybe provide insurance for the members to regain the trust of the people, sometimes traders does not anymore transfer their bitcoins to their cold wallet for them to be comfortable in trading as they do not need to transfer all the time.

Everything will eventually fail, it's inevitable. We're not all perfect and something will always happen.
It is your own risk to store bitcoins in an exchange, there has been plenty of warning not to, and people always ignore it.

Not a good excuse to have your assets be gone because of ignorance. It's better to always be prepared and aware of the possible consequences. When bitcoin is here as real owned money, why we still need to use online wallets or exchanges as a wallet. If you are still going that kind of practice with bitcoin, you still see bitcoin similar to fiats. Because you have ignored one of the prime feature of bitcoin.

[richardsNY]

Bitcoin wallet is much safer and it doesn't cost any monthly fees unlike those banks with high unknown future risks.

I'm not familiar with banks that you pay for since all banks in our place actually gives you interest for using their banks and I've never had any problems with them, nor my family. For that reason, I'd still use banks over bitcoin wallets since the risk of losing value of bitcoin isn't something that you can just accept when you're holding huge amounts of bitcoins.

He is talking about the costs for having a bank account including a card, and so on. For this you pay a certain amount per month. In most cases it's just a few bucks at most. Other than that, the interest rates banks are giving you for your money is just peanuts. It's not even worth your time. People nowadays get less than 1% interest per year, while they have to pay a tax of 1.5% per year... In that aspect people are losing out when saving.

[el kaka22]

Bitcoin wallet can have problem with secority and if someone stole it we cant find who stole so i prefer Bank because they cant go anywhere and governments can follow them .

Well the same thing with banks when we are talking about security but we have assurance that the bank is responsible for taking good care for our money when it is deposited to them. And yeah, that's the hard part in bitcoin wallet if someone is going to that it is very hard to trace who got it.

Bank is superior in some ways especially in holding on your asset.
It is just not worth the risk to hold most of your asset in bitcoin since with the current trend of it's value fluctuating. Banks are sitting in pretty comfort place due to stable fiat value. Otherwise, do not need to consider them for saving our assets.

[opossum]

Bitcoin wallet can have problem with secority and if someone stole it we cant find who stole so i prefer Bank because they cant go anywhere and governments can follow them .

Well the same thing with banks when we are talking about security but we have assurance that the bank is responsible for taking good care for our money when it is deposited to them. And yeah, that's the hard part in bitcoin wallet if someone is going to that it is very hard to trace who got it.

Bank is superior in some ways especially in holding on your asset.
It is just not worth the risk to hold most of your asset in bitcoin since with the current trend of it's value fluctuating. Banks are sitting in pretty comfort place due to stable fiat value. Otherwise, do not need to consider them for saving our assets.

Yeah bank is the safest place to store our money, even if the interest rates are not too high people are confident that nothing wrong will go with their money and banks will take best care of their savings.

[angryswamp]

Bitcoin wallet is much safer and it doesn't cost any monthly fees unlike those banks with high unknown future risks.

thats true, i always use a bitcoin wallet because i dont want to be dependent on banks besides that i dont need to pay any fees for using bitcoins

[tygeade]

Bitcoin wallet is much safer and it doesn't cost any monthly fees unlike those banks with high unknown future risks.

thats true, i always use a bitcoin wallet because i dont want to be dependent on banks besides that i dont need to pay any fees for using bitcoins

What kind of fees you are talking about? There are no annual fees if you hold saving accounts they will only charge if you don't maintain the average balance in your account, apart from that there are no fees involved.

[Doamader]

Bitcoin wallet is much safer and it doesn't cost any monthly fees unlike those banks with high unknown future risks.

thats true, i always use a bitcoin wallet because i dont want to be dependent on banks besides that i dont need to pay any fees for using bitcoins

What kind of fees you are talking about? There are no annual fees if you hold saving accounts they will only charge if you don't maintain the average balance in your account, apart from that there are no fees involved.

Well if you own a companie you have a montly fee, and if you have credit card you pay as well a fee, soo i dont get why you saying there is no fee, this would happen if all the money you have is at savings. Banks can crash and they control your money soo why would we trust our bitcoint at banks to they control them and block them?