Is Your Money Safer In Crypto than at the Bank?

[huhansan]

I believe that it is safer to put money into the bank now than to use it to invest in cryptocurrencies. Since this money is stored in the Central Bank, countries can help you. Now cryptocurrency is only people's investment. The investment risk is high, but I still choose to invest in digital currency. This does not require any reason, because money is my own.

[tannerchum]

I think it's safer to keep the money in the bank but it's more profitable to invested in the crypto currency market !

I agree with you men, it's so obvious that is better to keep your money at the bank than in the crypto. But the advantage of crypto in the bank is you can grow your money fast than in the bank. Their are many investment in the crypto than bank.

[sonphamuser]

Hard to say, I'd say safer in banks for now. Technology is still too new in my opinion

Easy to said, bank is not investment, it still like hold your money at safe zone, with 5-6 percent profit in my country, but when you put money into crypto, you will be need bet with your money, that why you should be need research more and more, and for now, it does not is safe zone to hold money, because hacker can visit you anytime

[apityeh71]

This is depend purpose of investment,  if you want to get small profit then Bank offer solution for your money in more safe, but if you want to make alot of profit in short times, crypto market will offer that,  but sure the risk also bigger from high volatility.  Will be much better keep money in bank by 70% and in crypto by 30% for long term investment.  

[Candice]

I think it's safer to keep the money in the bank but it's more profitable to invested in the crypto currency market !

I agree with you men, it's so obvious that is better to keep your money at the bank than in the crypto. But the advantage of crypto in the bank is you can grow your money fast than in the bank. Their are many investment in the crypto than bank.

These are two different things. Banks do not conflict with virtual currencies. No one wants to wake up one morning, and the money deposited in the bank becomes worthless.

[Henisusan]

If talking about the safety, the bank may be more safety because it has central that keeps our money securely.
However, saving in the crypto is more promising and profitable. If we hold them for the long-time investment, it may be also safer and getting more and more profits.

[TelegAda]

I still consider bank is safer keeping money in the bank but if we want our money to grew it is much better to put some of it or invest in cypto.

In my opinion the one who does not understand this he is a fool. By the way, but not quite. The Bank is also well under a cent to put, only need to know which is better. Banks also tend to close.

[longergou]

I think that it is safer to keep it at the bank. After all, cash can preserve the value. If it is replaced with a crypto currency, it is difficult to be stable in value. But cryptocurrencies also have a good place to earn more profit. It can Let us become rich, but also may lose a lot of assets!

[morozo]

Hi, i don't think money is safer in crypto than in bank, in bank you got inssurance, so if any problem you'll get back your money, in crypto if you are scammed, you can cry

It is a question of diversification. You should store a part of your funds in more conservative sources, and a small amount of money you'd rather invest in highly risky assets!

I agree on diversification, that is the best starting point.

[Cynooza]

It depends. As far as I believe in the long-term growth of crypto I prefer it. However, the risk of some force-majeure pertains. In case of banks, funds below certain level are usually insured so you can still return them if the bank fails.

[alt-fire]

money and safety are two different things. there is always a chance to lose them, so clever people do not keep all the money in one place. it does not matter whether it's a bank or a crypto currency

[bantoself]

Depending on the way we look and want to have progress, I usually save money, and if we want to benefit from the money it's better to invest, but certainly a lot of different opinions, but if you want to invest dicrypto will be more promising buy altcoin which has prospects for growth. and rest assured that investment will provide income.

[vova.andreyan.94]

Banks are often closed, and the crypto currency holding a project is depreciating ... It is necessary to do 50/50!

[santouao]

Basically it's more safe when you store your funds on bank  but your future is not safe on bank. If you store your funds on cryptocurrency definitely your future is safe because theres a big potential on cryptocurrency than storing your funds on banks.

[123uxcz888]

When we talk about safety, the bank will probably be the best choice. But of what use will it be when you leave your money in the bank instead of investing it into something that is more profitable? In cryptos too, your safety is equally guaranteed if you are cautious yourself.

[LuchikSveta]

I prefer to keep a part of my money in bank, part - at home, and another part in crypto) I don't trust banks as in my country they are absolutely non proffesional and trustworthy, so crypto is more safe in my case

[Gabmot]

Yea very much. What essence is having my hard earned money in banks where another man will get it to make investment in even crypto only to reap bountifully from it whereas I the owner will even have to languish how different deductions that will come underway for some needles transactions via bank charges. Hence, it's actually wise if one can use such doughs on investments on different promising coins lying around every corners. Who knows, one can secure his future financially from this.

[aioc]

It is safer if you know how to secure your wallet and cryptocurrency becomes very profitable and countries are adopting it, there is a risk investing in cryptocurrency because of volatility but it is not also 100% safe to keep it in a bank although much safer than Bitcoin.

[Legone]

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

Crypto is intended for investment because it is more safe and profitable if we invest it in crypto market than saving our money in the bank, Because cash is easy to steal by common iresponsible people in the bank or the outsider thieves.

[_Mikasa_]

Cryptocurrency has a feature that makes your money secured and protected as it doesn't need to undergo to many transfers unlike in banks. The transactions made are peer to peer means there is no third person to interfere. I think it's a good mode of transaction but I also think that money will be a bit safer in banks as they can track the transactions made, because of decentralization of crypto, transactions made within its system can't be tracked. So in bank, if there's any malfunction on the transaction, you can still know what happened to your money.