Bank or Bitcoin Wallet?

[1Referee]

I think that bank and bitcoin wallet can't be compared, cause it using for different currencies with different stuff inside, but i can say that im using both.

Nice thing of Bitcoin is that you don't need to convert it to your local currency as you would have to when you change USD to RUR for example. You can directly cash out your coins into any currency you wish. No hassle. Instead of bank accounts with several balances in different currencies, you have 1 balance with Bitcoin that you can split into any currency. Great advantage.

are you thinking you can't split your U.s dollar to other currency?
in my country i can convert us.dollar (payoal) to my local bank every day, only in minute

You didn't read my post properly. You can convert USD to any other kind of fiat currency, but there are conversion fees involved that can go up to 3% of the total amount. With Bitcoin you can directly cash out to your desired fiat currency without this conversion. That's what I meant.

Well in fact in bitcoin, if you are going to convert it directly to cash there are also fees but that is not too high so we can't feel the essence of fees as we are converting bitcoin to fiat. And that is going to be better to use bank to bitcoin or vice versa rather than paypal to bank. And both of them are useful banks and bitcoin wallets for storing our financial assets.

If I want to convert my coins to fiat via a certain service here, then I only pay around 0.5% in fees. That's very low compared to what you have to pay for other kind of conversions. And if I withdraw EUR from Bitstamp through SEPA, then the fees are only €0.90 per withdrawal. My minimum for withdrawing EUR is €1000 so that will be 0.09% in transaction fees.

That is not cheap considering the amount withdrawn is a material amount, I have not tried to with in any other online processor because I use to withdraw my money directly to my bank account and I am satisfied because it is very fast and the fee is just manageable.

What is not cheap? 0.5%? 0.09%? That aside, SEPA is a name for transactions within the Euro zone. The money gets sent to my bank account directly.

[DuckKeeper]

If you had to choose for the rest of your life and you want to be sure that bitcoins are safe enough dont buy bitcoin wallets because they are far from safe use banks for your money and cash the coins.

[freedomgo]

If you had to choose for the rest of your life and you want to be sure that bitcoins are safe enough dont buy bitcoin wallets because they are far from safe use banks for your money and cash the coins.

Because your bitcoin wallet is not intended for saving your money, you use banks in that matter and your bitcoin wallet is only good if you are planning to invest either in short term or long term and you should only consider putting an amount that you can afford to lose.

[takingthis4]

You dont need bank for nothing,you need a work,sure you must pay fees to government and they use bank,but well lets say with cash in hands you can pay anywhere.You can send money at same country to other person when the person has the same bank as yours,try to send to another bank into the same country,bitcoin as a fee that is pennies being a small or high transaction soo always bitcoin would win.

you usually need banks all the time and thats really bad as even though i use bitcoins i cannot avoid using banks too unforunately

[naidray]

You dont need bank for nothing,you need a work,sure you must pay fees to government and they use bank,but well lets say with cash in hands you can pay anywhere.You can send money at same country to other person when the person has the same bank as yours,try to send to another bank into the same country,bitcoin as a fee that is pennies being a small or high transaction soo always bitcoin would win.

you usually need banks all the time and thats really bad as even though i use bitcoins i cannot avoid using banks too unforunately

As per the present scenario of bitcoin acceptance every bitcoiner must have to keep both bitcoin wallet and bank accounts. But the important thing here is, what you are using mostly and what is supporting you for making your life so easier. When comparing your life to some five years back, you can find how bitcoin influencing your financial life.

[zodin]

Of course bank is more better than bitcoin wallet, because it's really safe and we even get interest when we save our money in the bank. In the other hand, bitcoin wallet also good, but bank is more better.

i thinks ans wallet has their own price, it is a face that we use banks for different purposes but still i we cannot ignore the importance of wallets because not a single bank is accepting bitcoin, so if you have some bitcoins then you must need a wallet.

[CloudStrife]

I believe that we need them both. For the present moment bank accounts can be widely used for many more things than bitcoin wallet. But I can see that the BTC walltes are gaining more ground every day.

[YTBitcoin]

Of course bank is more better than bitcoin wallet, because it's really safe and we even get interest when we save our money in the bank. In the other hand, bitcoin wallet also good, but bank is more better.

i thinks ans wallet has their own price, it is a face that we use banks for different purposes but still i we cannot ignore the importance of wallets because not a single bank is accepting bitcoin, so if you have some bitcoins then you must need a wallet.

You are right bitcoin is the need of the day and for that we should have to love wallet and as banks do not allow bitcoin and our money are in bitcoin so we do not need any bank for the time being when banks start to accept bitcoins.

[Rahar02]

I believe that we need them both. For the present moment bank accounts can be widely used for many more things than bitcoin wallet. But I can see that the BTC walltes are gaining more ground every day.

Bitcoin wallet and banks are different in some way to manage and their rules of it. I agree for now and so on we need them both, for example in my country no shops or stores that accept bitcoin as payment except some online stores but limited service/goods to offer so we need to convert it, after we exchange bitcoin to fiat money we still need banks account to transfer it

[goinmerry]

I believe that we need them both. For the present moment bank accounts can be widely used for many more things than bitcoin wallet. But I can see that the BTC walltes are gaining more ground every day.

Bitcoin wallet and banks are different in some way to manage and their rules of it. I agree for now and so on we need them both, for example in my country no shops or stores that accept bitcoin as payment except some online stores but limited service/goods to offer so we need to convert it, after we exchange bitcoin to fiat money we still need banks account to transfer it

For now and many more years. It will the best offer the government could make. Banks plus bitcoin, but I think there will be a little fee also when it comes to exchanging it to fiat. I dont think they would just want the bitcoin exchanged to them to be invested only. They would somehow want more and it will be taken from the transaction fee.

[krisnt80]

I believe that we need them both. For the present moment bank accounts can be widely used for many more things than bitcoin wallet. But I can see that the BTC walltes are gaining more ground every day.

Bitcoin wallet and banks are different in some way to manage and their rules of it. I agree for now and so on we need them both, for example in my country no shops or stores that accept bitcoin as payment except some online stores but limited service/goods to offer so we need to convert it, after we exchange bitcoin to fiat money we still need banks account to transfer it

For now and many more years. It will the best offer the government could make. Banks plus bitcoin, but I think there will be a little fee also when it comes to exchanging it to fiat. I dont think they would just want the bitcoin exchanged to them to be invested only. They would somehow want more and it will be taken from the transaction fee.

There are already a solution that is debit card, soo you can spend and use your bitcoins without have to exchange them. Back to the topic, banks will stand forever as people can store their passwords online safety forever, as well cant save money at home, too risky.

[chineseprancing]

I believe that we need them both. For the present moment bank accounts can be widely used for many more things than bitcoin wallet. But I can see that the BTC walltes are gaining more ground every day.

Bitcoin wallet and banks are different in some way to manage and their rules of it. I agree for now and so on we need them both, for example in my country no shops or stores that accept bitcoin as payment except some online stores but limited service/goods to offer so we need to convert it, after we exchange bitcoin to fiat money we still need banks account to transfer it

For now and many more years. It will the best offer the government could make. Banks plus bitcoin, but I think there will be a little fee also when it comes to exchanging it to fiat. I dont think they would just want the bitcoin exchanged to them to be invested only. They would somehow want more and it will be taken from the transaction fee.

There are already a solution that is debit card, soo you can spend and use your bitcoins without have to exchange them. Back to the topic, banks will stand forever as people can store their passwords online safety forever, as well cant save money at home, too risky.

Bank is good for saving and investing your money for a long long period of time because it is very secured for all bad things will happen in your money, while in bitcoin it is good for investment due to fluctuation of price you can earn more that you expect but it always depend on your investment.

[CloudStrife]

I prefer to use both, and I think it's required these these days. But I would choose btc wallet, because it is more secure, also easier to use, from my point of view. It's relevant to add the fact that you have much more control over your own funds.

[Natlind]

I prefer to use both, and I think it's required these these days. But I would choose btc wallet, because it is more secure, also easier to use, from my point of view. It's relevant to add the fact that you have much more control over your own funds.

I too require both as I live in a country where bitcoins are not accepted. So I wish to save the bitcoins I earn in bitcoin wallet. Once its exchanged to fiat I save that amount in my bank's savings account. Then I use the money for my expense. So I require both.

[drwtsn32]

I believe that we need them both. For the present moment bank accounts can be widely used for many more things than bitcoin wallet. But I can see that the BTC walltes are gaining more ground every day.

Of course we can see its improvement almost everyday because banks have nothing to prove anymore.
Banks are the foundation of our money. It has already stabilized and monopolized.
In short, cryptocurrency is a lot different from fiat.

[madwica]

Much better if we have both, it will gives us great income in the future but we can earn fast in bitcoin investment than savings or investment in the bank, but i prefer to save more in bank than investing in bitcoin.

[hajimasan]

what you will chose amomg them.and why do the banks are afraid of bitcoin.why banks are not much smooth and faster like bitcoin.if banks start accepting bitcoin as payments then will it became a revolutionary for us?can bank can solve our mining or money curculation probems.

i think you're right and your question of wheter bank accept bitcoin or not is not much complicated . in my opinion a new bank whi knows about bitcoin can accept bitcoin while the other bank will not .
here the best example of my point to accept bitcoin by bank is real . in the present time the increase in rate of bitcoin is resulr of start of one bitcoin bank who bought btc in much amount .

[hinatashoyou]

Much better if we have both, it will gives us great income in the future but we can earn fast in bitcoin investment than savings or investment in the bank, but i prefer to save more in bank than investing in bitcoin.

we should split between investment and saving, what percentage of the investment and partly to savings

[goldcoinminer]

Much better if we have both, it will gives us great income in the future but we can earn fast in bitcoin investment than savings or investment in the bank, but i prefer to save more in bank than investing in bitcoin.

we should split between investment and saving, what percentage of the investment and partly to savings

Savings should be bigger than you investment because you only take your investment money from your savings, that is how it should be done if you do not want to suffer in the future once your investment failed, there is no assurance with investment but we need savings for future expenses.

[ironm@n]

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.