Is Your Money Safer In Crypto than at the Bank?

[leslie4u]

Every market has it own risk and Crypto is not spared. I would say I would rather make some profits investing in Crypto that keeping money in bank where-

1 - The returns are less
2 - As your balance grows, the prying eyes increase
3 - The government/third party has full control over your funds and can seize them if need be.

I used to love banking but not anymore. They just do not belong within the new decentralized system.

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[chengyinoing01]

I think it's safer to put money in the bank, but it won't make a lot of money.

But investing in cryptocurrency can make us very profitable and risky.

[oxoxoxox]

I think that their arguments are reasonable, but I personally prefer to pursue Bitcoin because I have invested in it because it can earn benefits for me. I don't care how long it lasts!

[carlisle1]

For me money is more safer in banks than those damn scam ico,in bank our money is securely handled but with a tiny interest than you cant almost notify ,but in cryptoworld in joining ico yes theres a huge risk that may be entertaid but the posibility of gaining big is indeed

[testadimerlo]

From a technical point of view, I believe that banks are safer, if for example wrong address in sending money through wallet those tokens are lost forever. But I believe that we will reach ever higher levels of security. Be patience.

[Teal Deer]

The Deposit placed in the Bank is no longer a source of income. Given the level of inflation in many countries, this method of investment is rarely able to save capital from inflation. In my country, banks have Deposit insurance, but in case of Bank failure, they return a very small percentage of the total amount, less than 90%. It only says one thing that money in the Bank is dangerous to keep. In addition, with the advent of cryptocurrencies, many banks are waiting for bankruptcy. It is more reasonable to invest in cryptocurrencies, as this is the future, and in many countries you can buy material things and services for cryptocurrencies. And I think it's very cool!

[Spice_Joy]

I like that there is freedom of choice in crypto-currencies. For me, there is no need to deposit my money for a long time on a deposit with a bank, I can at any time sell the assets that belong to me on the exchange. I believe that it will be safe to keep assets in the crypto currency.

[vianh123]

In real talk, it still safe to save money from our banks. Because banks takes the risk of what would happen to our money if anythings happened. It is only my opinion.

[Hanazawa]

You know what for me both are good but i prefer saving money money in the bank....  Though in crypto it is profitable and good....  We didn't know what will happen because it is just starting unlike in the bank we know them lots and also we trust them....  But both of it is quite good and great....  Everyone has a freedom to choose what they want and its up to you and its up to your decision if what will you tust or not....

[Adunni6758]

What will determine whether your money is safer in crypto is dependent on how secured the wallet you are using is. Another thing again is that keeping money in crypto might either make you gain or loose, because crypto currency is volatile, except you decide to hold tether (USDT). On the other hand, keeping money in banks is safe, although there will be charges in form of tax levied on your cash in bank.

[efxtrader]

I think its more profitable to keep our money in cryptocurrency. Keeping our money on the bank reducing the value by inflation and saving our money in cryptocurrency can be double because its like investment instrument. But for emergency, we should have account in the bank and safe in crypto with money that we can afford to lose because its high risk

[lyons]

In my opinion, if you take the necessary cautions in crypto, it gets incredibly safer. I think not clicking on the links which you don't find reliable is really important.

[Man21]

depending on the economic situation of your country and the bank you used to keep your money. Personally, I prefer to keep my money in real estate instead of my bank account but if I have to choose between bitcoin and my bank account then I will probably choose my bank since it is a lot safer than holding my fund in an online wallet or exchange. They are so many problems with bitcoin right now and it is not enough stable yet and not widely accepted in many countries so you can't cash out your money if your country does not allow it.

Well, its good for you to choose bank account compare with bitcoin because its way safer.
I also agree that bank is very safer than bitcoin but other benefit which can not be given by bank such as interest and income.so that make people more prefer to choose bitcoin.

[Tipstar]

If the coin is good and you hold it on a wallet you control the private key of, than you are in ownership of your money more than the money in your bank. Though crypto for now is considered a investment scheme while bank is a safer and legal way to store money.

[belalangsembah]

in a bank or other investment is you can not get more than 10% of profit but in crypto there is a chance you get a profit of 10% depending on where you invest. I agree it's better to save a lot of money in the bank than in the crypto wallet, but it's really profitable to invest in the crypto market than any other investment

[shaman11]

Of course not, how can you think about it! Yes, I'm sure that the crypto currency has a great future, but so far the price is very unstable and can fall at any moment! Do not invest in crypto currency that money that you are not ready to lose!

[Saigeky]

Who would not say that, and to keep money in the crypt is dangerous. This is not stability, and the scammers are not asleep, so a high probability of losing money

[Saigeky]

The chance that someone stole money from the Bank is much lower than if you get hacked. Therefore, definitely a Bank. It's safe, chance, Cho your money decrease below

[CryptoProphet]

Tim Draper: More Secure in Bitcoin Than the Money Sitting in Wells Fargo

Venture capitalist Tim Draper is bullish on Bitcoin and believes it will reach $250,000 in the next four years.

During a debate hosted by Intelligence Squared and the Adam Smith Society, Tim Draper was asked how Bitcoin compared with his previous tech investments in Hotmail, Skype, and Tesla. He replied bullishly, saying, “Bitcoin will be bigger than all three combined.” However, Draper didn’t leave it at that — he thinks it will be bigger than the iron age, the Renaissance, and the internet and says that the nascent technology will affect the entire world in a faster and more prevalent way than ever imagined.

The Debate: “Bitcoin is more than a bubble and here to stay.”
Backed up by Patrick Byrne (CEO of overstock), Draper took on Financial Times journalist, Gillian Tett, and Professor of Law, Eric Posner, both of whom argued that Bitcoin is indeed a bubble and strongly contested Draper’s claims. Posner and Tett called into question the “strengths” of Bitcoin, arguing that they could be regarded as weaknesses. Posner suggested that the pseudonymization of identity enabled by the technology makes Bitcoin transactions the perfect vehicle for sophisticated criminal transactions. Tett focused on the risk involved with trusting computers with finance as they can be hacked, are prone to faults, and that Bitcoin is a “terrible store of value.”

These arguments won’t be anything new to anyone who has studied the space, and the rebuttals of Draper and Byrne won’t come as a surprise either. The pair acknowledged that Bitcoin was imperfect and drew attention to the fact the technology was designed to be open source so that unforeseen problems can be managed by the community. Byrne also pointed out that although Bitcoin has been “hacked at” more than anything in history, but unlike banks, it has yet to be defeated.

Draper was more brazen in his responses and implored the crowd to use fiat if they were looking to facilitate their own criminal activity as many Bitcoin criminals get caught. The venture capitalist responded to Tett’s admission that she invests in several different fiat currencies by saying, “I’m so much more secure in my Bitcoin than I am in the money that’s sitting there in Wells Fargo.”

Who is right?
The short answer is it’s far too early to tell, but it is good to see the subject being discussed in this manner. Before the debate, Gillian Tett remarked that if both sides of an argument aren’t heard in the same room, on the same day, then the conversations can “go past one another.” It’s probably safe to say she’s right here because, although there is no shortage of media on either side of the argument, real debate on the subject can be difficult to find.

If crypto is going to head down the road Draper expects, its advocates need to be able to argue their case outside of the crypto community, and debate should be welcome as it not only gives both sides the ability to speak but also the ability to listen.

Draper’s comments are to be expected
As crypto enthusiasts, it’s easy to agree when figures like Draper sing the praises of Bitcoin, but we shouldn’t let confirmation bias get in the way of the issues. Draper is a successful investor, and he hasn’t arrived there without making mistakes. He could be wholly right, wrong, or somewhere in between — the latter is most likely. Draper allegedly owns 30,000 BTC, so he has a vested interest in Bitcoin’s success. That does not mean he is wrong, but it does mean his comments should be taken with a pinch of salt. Well-reasoned arguments are far more convincing than hype and chest beating because they allow people to make up their own minds.

The emergence of DLT might eclipse the impact of other innovations, but for now, the emphasis is not on critics to prove the crypto community wrong. It’s up to those who champion DLT to convince the world they’re right.

Originally published at cryptodisrupt.com

What do you mean in safety?
If about safe from other people, it is of course crypto, you just need secure wallet, if you speak about safety in terms of stability, then in the bank.

[silverleafy]

If you own hardware wallet like Trezor or Ledger, than yes, it could be much safer than money saved in the bank.