Is Your Money Safer In Crypto than at the Bank?

[DmitriySar]

I think money is safer to keep in the bank, oн бoлee cтaбилeн. Keeping money in the cryptocurrency  there is more chance to increase or lose money.

[Proc.dev]

For today this is a very actual issue. From the one hand bank gives you some guarantee that you will get some income in future.
On the other hand youu should pay for you bank account. And course of the money you invest in bank may vary suddenly.
Nevertheless, blockchain is independent on country and payment systems. Also I can control my investment every time I want to do this.

[pademola]

in my opinion, it is safer to save money in the bank because in crypto the price is not fixed, the money in crypto is hanging by a thread it may result in profit or loss

[jaksdhnz8288]

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.

[SnapFX]

I consider that now it is better to store money in cryptocurrency and during the cryptomarket growth periods, to withdraw a part of money in cash.
Thus you will always be in the chips.
Of course the saved-up means need to be filled up.
I for earnings participate in Bounty-campaigns and Airdrops.
Maybe still I will connect trading on altcoins.

[rucapri0]

I expect bank on is safiest accommodation emblematizing my currency however i prize crypto very today you dont condition to chore machine or currency whether do you permit digital pouch so you can pay emblematizing anything you with out cash and machine cards.

[flying_bit]

it's safer and more liquid in the bank where you can easily withdraw your money in time of emergency for now but hopefully in the future this will be changed. Cryptocurrency value is very volatile and ofcourse there's always a chance your wallet will be hack so it's kinda unsafe in a way. So only invest what you can afford to lose in cryptocurrency.

[HichemFetoui]

Yes for me personally I think crypto and spicially dai is more safer than bank but volatile market and others coin depend on your own research goodluck

[blizzard31]

of course it will always be safe in bank than in crypto, we know that crypto uses the block chain technology and that is really mind blowing to know how they keep and store all the data and information uniformly and safely but base on the value it is not stable and it has no sign to be stable, unlike on bank it will preserve its value, i think people here are after profiting, and when they earn their money will eventually go to their bank accounts.

[phpartisanmaster]

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

It was very obvious that your money is really safe on the banks but the problem is that, we all know that the increase in prices if you are placing your money on banks is very low due to their own rule of scaling in the increase in their system.

[Marcel666]

Neither is impregnable. But your money saved up in the bank is insured and in any eventuality you do not bear the loss. In crypto currency, be it on an exchange or a wallet. Your loss is your loss.
I say the bank is SAFER.

[JRoa]

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

Of course it is safe if you will store your money on banks. The purpose of the banks is to keep and secure the money of their customers. If your purpose is only to save your money, it is better if you will keep it in banks than to cryptocurrency market.

[Esiduf222]

Crypto is not meant for saving but it can help you make profit. For savings  its better to save in a bank.

[markk94]

The safer thing is our main point here. For that point to be accomplished and there's nothing extreme volatile things, i think bank is the best service for saving your money safely. But, for you to "spend" your fiat to buying some crypto, it is counted as investing or trading. Saving in cryptocurrencies like literally put away your money, and whatever comes neither its profit or loss is depend on your activity.

[setupbounds]

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.

If we are only concerned to keep our money safe, then I don’t think so that there is any such difference in between the banks and that of the crypto currencies. the only reason because of which I prefer the crypto currencies over the banking system is that investing in the crypto currencies also gives you an opportunity that you will then be able to make more earning and that you will be having some significant profit as well.

[Crypto24hrs]

Until the incessant sharp rise and fall in crypto is stabilized at list to some extent the best place for anyone to store his money remains bank to avoid a colossal loss however one can keep some cash in crypto for investment purpose and not to store all ones cash in the bank

[morozo]

of course it will always be safe in bank than in crypto, we know that crypto uses the block chain technology and that is really mind blowing to know how they keep and store all the data and information uniformly and safely but base on the value it is not stable and it has no sign to be stable, unlike on bank it will preserve its value, i think people here are after profiting, and when they earn their money will eventually go to their bank accounts.

It will always be safe in a bank, really? I suggest to do some history check regarding bank runs, example is the Great Depression. Then you find out that the bank does not have enough money to pay everyone if indeed everyone wants their money at the same time.

[big kid]

You see, in the bank your money works for other people, they earn on it. And at the cryptocurrency market you can increase your deposit several times a year.

[hamster fat]

Of course not, our money in the bank is protected more than in crypto currency, but we like the crypto currency because here now you can earn more money and we agree to this risk.

[greg0rioo]

I think the level of bank security is still better than Crypto. When our money is lost in the bank, the bank will replace it. But if our token is lost in our wallet, then we can only let it go.