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Author Topic: Are bitcoins more secure then Swiss bank?  (Read 2568 times)
layoutph
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April 02, 2017, 08:20:30 AM
 #41

Bitcoins are more secure I guess, it cant be easily raid by bank robbers. It cant be easily hack by hackers as they need to hack the whole blockchain.

Just make sure you save your bitcoin properly, dont lose your password paraphrase.

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April 02, 2017, 08:56:17 AM
 #42

Each one has its advantages and disadvantages, but if you're talking security as in your money will always be useful then definitely a Swiss bank. A Swiss bank has that proven reputation and security. Bitcoin hasn't been around as long and anyone can hack into your computer or steal your hardware wallet with enough effort except you won't have professional security guarding it. Bitcoin is also very unstable pricewise and not as many real life places accept it as payment. For now, having your fiat in a nice Swiss bank is more secure in terms of real life application.
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April 02, 2017, 11:23:34 AM
 #43

This is tantamount to comparing volume of forex trading and trade bitcoin/altcoin in regulatory differences and beliefs. So far it has many bitcoin wallet always get development solutions of bugs found, bitcoin victory is anonymity, but security still have a gap, and the main thing isn't recognized by government. Swiss bank is official place with high level of security and privacy that's remarkable, it is definitely legal of course, so deposit entrusted from one person alone could reach billions.


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April 02, 2017, 06:44:38 PM
 #44

Bitcoin has its drawbacks. And at the moment there are many ways to steal the bitcoins. Similarly, there are ways to steal the national currency from the bank.
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April 02, 2017, 07:42:28 PM
 #45

i think bitcoin is very much secure than Swiss bank we know that bitcoin is very much secure currency and we feel secure in bitcoin and bitcoin charging fees is very much low and if you keep your money in bitcoin then you will be already in profit because bitcoin increasing its price too much faster.

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April 02, 2017, 08:12:12 PM
 #46

i think bitcoin is very much secure than Swiss bank we know that bitcoin is very much secure currency and we feel secure in bitcoin and bitcoin charging fees is very much low and if you keep your money in bitcoin then you will be already in profit because bitcoin increasing its price too much faster.

Despite your optimism, you need to remember about the risks. Crypto currency is very unstable and you always need to be careful when using it. Scammers can take everything they want
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April 02, 2017, 08:48:24 PM
 #47

i think bitcoin is very much secure than Swiss bank we know that bitcoin is very much secure currency and we feel secure in bitcoin and bitcoin charging fees is very much low and if you keep your money in bitcoin then you will be already in profit because bitcoin increasing its price too much faster.
ii agree with you and i will choose bitcoin because bitcoin is very much profitable currency for everyone and if we store our money in bitcoin then our money can be double in bitcoin when bitcoin price increase to double value.


 
 
 
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April 02, 2017, 08:51:28 PM
 #48

Apples and Oranges type of comparison really...

Bitcoin is an investment that has high potential but is volatile.

The swiss bank is a more established, accepted system of fiat currency.

Bitcoin is technically that, but it is not treated that way at the current time.

Both are good for their purposes. I'd have some investment in both to be honest.  Cool
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April 02, 2017, 08:58:24 PM
 #49

Apples and Oranges type of comparison really...

Bitcoin is an investment that has high potential but is volatile.

The swiss bank is a more established, accepted system of fiat currency.

Bitcoin is technically that, but it is not treated that way at the current time.

Both are good for their purposes. I'd have some investment in both to be honest.  Cool
It's a bit more than that. I doubt OP is interested in the volatility and looking at Bitcoin as an investment. The question is strictly about security and this is much better with Bitcoin. A bank is still managed by a third person and you never know what that person might do. There might be a bombing in Switzerland that disrupts the network or power in the area and you won';t be able to use your money for a time. With Bitcoin it's all in your hands.


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April 02, 2017, 11:25:01 PM
 #50

i think bitcoin is very much secure than Swiss bank we know that bitcoin is very much secure currency and we feel secure in bitcoin and bitcoin charging fees is very much low and if you keep your money in bitcoin then you will be already in profit because bitcoin increasing its price too much faster.
i personally have no idea about the swiss bank security, but i can conform that bitcoin is too mch secure as i am using bitcoin for loas few months.



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April 04, 2017, 10:19:29 PM
 #51

You can't basically just decide that as there are so many ways to protect your bitcoin weather it is an online wallet by 2FA or your desktop wallet by hiding your private key and stuff. But i do think that swiss bank is more secure as they are a bank after all and if they lose your money they are liable to pay you unless they are bankrupt  Roll Eyes

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April 04, 2017, 10:52:48 PM
 #52

They are also more private with the US getting access to Swiss banks in recently years. The rich now store their money on islands like Barbados

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April 04, 2017, 11:00:22 PM
 #53

The Swiss Bank isn't that secure to be honest. If there money in the Swiss Banks was really secure then there would be people all over the world trying to use it instead of any other Banks. I've been reading that more Banks are trying to enhance their security because of them getting bad situations happening to them.
It may seem like they are trying to help the community though I'm pretty sure that Banks could find a solution if they really wanted to.

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April 05, 2017, 11:40:33 AM
 #54

In term of stability i wouldn't say bitcoins are more secure then Swiss bank. The value of bitcoin can decrase easy while in banks the risk is smaller. In term of security it's depend how you see it. A hacker can hijack your wallet in a way or other then it will be a total lost for you. While if your bank get hacked then you get refunded as the bank is responsible  Grin

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April 05, 2017, 03:07:40 PM
 #55

Bitcoins more secure than all bank! But may be you lose all you have when no one "" like "" BTC

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April 05, 2017, 03:17:47 PM
 #56

In term of stability i wouldn't say bitcoins are more secure then Swiss bank. The value of bitcoin can decrase easy while in banks the risk is smaller. In term of security it's depend how you see it. A hacker can hijack your wallet in a way or other then it will be a total lost for you. While if your bank get hacked then you get refunded as the bank is responsible  Grin

I think in terms of security the same applies, advantage for the swiss bank. Bitcoin is more vulnerable to hacker attacks and has less guarantees. But the point of bitcoins is to have a new technology that allows us to use a new way to make online transactions and to earn money online.
And there isn't any bank offering us chances like this to make fast profit and money online. What I mean is: Without a lot of initial money, swiss bank is worthless for you. Without money, bitcoin extend a welcome to you!

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April 05, 2017, 05:37:58 PM
 #57

Yes bitcoin is far more secure than any bank's centralized network. Bitcoin is decentralized, it is encrypted, the one who have private key only have full control over that bitcoin address this all makes bitcoin more secure than swiss bank or any other banks.

Bitcoin server/network can never go down so you will always have access to your bitcoin.


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April 05, 2017, 05:58:07 PM
 #58

Interesting putting in that kind of perspective,you are trying to compare two entirely different things,putting cash in a swiss account is secure because the economic system in Switzerland is pretty stable,one of the best.If you want your cash to be available and not lose any of it's worth then putting it in an account in Switzerland is a good option.However,BTC can pay you much higher dividents because it is an investment rather than a secure deposit.

Good answer.  Bitcoin is still a highly speculative investment.  It could turn out that Bitcoin will lose value, and so while your coins may be secure, your wealth won't.
Also, we are all trusting in cryptography experts who are telling us that the elliptic curve cryptography is strong, but unless we are experts ourselves, we don't know.

That being said, bitcoin has proven itself to be secure and we control our own funds.



It is precisely why banks have not completely crumbled yet.  They (the banks) insure your funds up to $250,000 in USA in the case of financial crisis.  It's the thing bitcoin can't offer, insurance.  A whole scam of its own, a whole topic too. 


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April 05, 2017, 07:16:51 PM
 #59

Yes bitcoin is far more secure than any bank's centralized network. Bitcoin is decentralized, it is encrypted, the one who have private key only have full control over that bitcoin address this all makes bitcoin more secure than swiss bank or any other banks.

Bitcoin server/network can never go down so you will always have access to your bitcoin.

That is not completely true because not a thing in the world isn't 100% secure and free of attacks and breaches. And so it's the case with Bitcoins too. So far we can't claim that Bitcoin network could never go down or be attacked and your coins lost. I never take anything just as it seems, there is always a danger.

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April 05, 2017, 07:43:31 PM
 #60

Just wondering...

Satisfying your curiosity, I will disappoint you but the Swiss banks are not the safest in the world. In reality the classification index changes every year or strictly speaking this index changes since one or more of the Big Three credit rating agencies  Fitch, S&P, and Moody's  The 17 safest banks in the world decide to change the rating of any financial institution. But for your information according to the link the 1st, 3rd and 4th banks with higher rating are located in Germany and only the 2nd one in Switzerland.
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