Is Your Money Safer In Crypto than at the Bank?

[Welckomtome]

It's safer in the bank if you're dumb about crypto, buy high and sell low, leave your assets on exchanges, fall for phishing scams, use terminology like HODL instead of just saying HOLD, or buy coins like Rupee (RUP). For the record, I know nothing about RUP, just seems like the epitome of scammy.

I have heard a lot about it, some people say it is stupid to start mzking money from cryptocurrency market, others just say - give it a try. I stick with others.

[Potatohead]

It is safer to keep your money in the bank since crypto wallet is susceptible in being hacked and there's also a risk that you might lose your private key or your funds to get stolen if you will not be careful. However, some people choose to put their money in crypto since it is more profitable despite the risk.

[BigBoy89]

Banks are definitely the safer place to keep your money. Trade Banks are heavily regulated and there are whole bunch of laws that secure our funds.

[CrypticGambit]

Your money is as safe as your security. I think that a lot of people are getting hacked and they are losing their crypto. This is why the bank is a safer place if you don't know what you are doing.

[Bezuprechnyj]

Safer in the bank, more profitable in cryptocurrency! Safety implies the absence of risks. And the risk is always present in matters relating to earning money, especially large earnings. Therefore, in order to achieve something, you have to risk, to get out of the comfort zone.

[EvieeHist]

for the time being before all the financial support facilities are really strong security in all aspects and access, I prefer to keep in bank, a small part in crypto.

[jak3]

I don't have any doubt on it, I can clearly see that Bitcoin and other all coins are much more secure and powerful than banks of course there is a benefit for banks because they manage the money in a physical world so they have advantage of reversing the transaction (which includes taking money from a person back) but with Bitcoin we do not have such facility because it can be vulnerable can hackers can take advantage from it.

[ZaoXhou]

Safer to keep it in crypto yourself under your full control.
But if you take into account the volatility of some coins, a bank might be "safer" for your wealth.

[Ahiaba]

Well as for now i will money is more or less safe in the bank as compared to crypto currency because of the fact that crypto currency is too volatile in nature at this early stage.

[4abrec]

In the future, maybe it's like one of the good news. However, now it is a very big risk and bitcoin can fall at any time and all your money will burn.

[DonaldTramponald]

I believe that in the bank my money is just losing its price.  Since the inflation rate is much higher than the bank's%. And when my money is depreciated, then this is the biggest risk.  And in crypto, I can increase my money several times.

[Ka4Rt4]

maybe for me personally about the security of your money is definitely his place in the bank, because the consistency is in the bank, but to earn and expect future earnings can invest in crypto it is very profitable and promising.

[zorgo]

I think nowdays money are safer in crypto, but only because possibilities of stealing by hackers. When people can protect their cryptoassets better, then crypto will be a lot better than banks.

[poot89]

In my country, cryptocurrency transactions are completely banned. Although our money continues to depreciate, we do not seem to have a safer place than the bank. Therefore, people's consumption and investment tend to be high. I hope my government can change its view on cryptocurrency.

[solnechno]

Keeping money in the Bank is a risk, an even greater risk to keep money in cryptocurrency, because the market is unstable. It is better to invest in real estate, but everything depends on the country and the city.

[miner7788]

If be honest i don't think so. in my opinion my money in bank will more safety than in crypto.

[kier010]

bank is safer compared to crypto and if there is a problem in the bank we can report them to authorities. crypto is secure in terms of holding your money but because it is not stable you may earn or lose profit.

[Abiky]

Your money is as safe as your security. I think that a lot of people are getting hacked and they are losing their crypto. This is why the bank is a safer place if you don't know what you are doing.

Agree. If you're not tech savvy enough to properly secure your cryptocurrencies, then your best bet to keep your money safe would be a bank. Since banks are regulated financial institutions, you can rest assured that your money will be safe no matter what happens. In contrast, since cryptocurrencies are largely unregulated, anyone can steal your money and there's no turning back once the hacker gets access to your money. The irreversibility of transactions, and lack of KYC/AML compliance, makes it hard for anyone to claim back their funds.

However, those who're wise wouldn't store their cryptocurrencies in online wallets, exchanges, and even hot wallets for security. Depending always on hardware wallets such as the Ledger Nano S or Trezor, as well as cold storage like paper wallets, will make the hacker's life troublesome to attempt to steal your funds. As such, depending on how well you secure your cryptocurrency funds, your money would be practically impenetrable from external interference.

Nevertheless, both banks and cryptocurrencies are safe methods on securing your money. It would all depend on the user's needs whenever he/she want to obtain freedom over his/her money, or protection with regulatory compliance by using a bank account to secure the money. Just my opinion

[whaawh]

bank is safer compared to crypto and if there is a problem in the bank we can report them to authorities. crypto is secure in terms of holding your money but because it is not stable you may earn or lose profit.

in any case for 100% of the security of your funds in the Internet on the crypto currency, and in the banking system. But each of us uses what is advantageous and better for him.

[dizzy1996]

A good question, see the investment of the crypto currency is a long-term investment that will justify itself only after a certain time and it is worth waiting for a certain period, as well as it is fashionable