Is Your Money Safer In Crypto than at the Bank?

[kritiana008]

Banks have many ways to rise your investments with holding them but crypto is more suitable and modern way to do it. But I am for banks because crypto requires too many aspects to be safe.

[olamidey]

I am tempted to say bank is more safer because of the current volatile crypto market. But if I am to advice you I will say go for crypto, but not just any Cryptocurrency go for a Cryptocurrency that seems stable, for me I choose EON protocol, and most of my money is there, this is because of its more profitable.
Your money in bank is static, while in Cryptocurrency can be a profitable investment

[ennaheaven]

I think if you keep your money in traditional assets such as Gold, land, Home etc is safer than crypto or Bank. However if i have to choose one, bank is safer than crypto. The bank is more secure for money. Though cryptocurrency is very dependable and very reliable to invest on but is not that save in terms of security. So I choose Bank.

[kahrde]

In fact, in some countries, the fact that funds are placed in banks may not necessarily be safe, but people do not have better choices. Thus I believe that the investment in Bitcoin and another altcoins will be even more profitable, but it is still the most secure and remains to be discussed.

[ZirconiumX]

I do not believe that my moeny safer in any crypto rather then in bank just because crypto market is so unstable, so for only keeping your money safe it do not suit.

[daglordjames]

well for me it's the same because it can be hacked but investing in the crypto is more profitable.

[lancer10]

I think that long-term investment is more than a good way to invest money and is much more profitable than bank accounts.

[ngocphuonghong1602]

I don't think my money is safer than the bank. I think the cryptocurrency is not mature enough and the banking system is very mature. If some hacker will stole my coins from my wallet I will just loose my coins.

[gulshan1]

We can say that money is safer than the bank because this is market where price go up and down and portfolio money also fluctuate with it. Money may be dead or double and triple in this field. So invest carefully and make strong and big heart for this, Otherwise leave the crypto market.

[elrugrim]

It depands what do you mean by "safer".
If you mean secureness, then yes, my ledger is safer then any bank.
If you mean the way of investment (holding and converttion to USD), then no, crypto is very unstable now.

[Gabteb]

I ts very difiicult question and i dont think anyone could answer it pefectly but as we all know from 2008 and ealrlier people lost everything just in one day like if they were lost thier private key from wallet i think ,crypto will be much more safer one day.

[Glomerulus22]

Definitely not. What is in your bank is your real money. In crypto u can loose 30% overnight because of the excessive fluctuation. Crypto is just investment, not the holding for your all money.

[gabrielehuang]

In my own opinion is safer in cryptocurrency in terms of money than at the bank because the cryptocurrency industry is the safest but if you hold a big money, I think its much safer to put it on the bank. Because when you invest it into a crypto, there is a risk factor, there is a much chance that by just holding on it, you already gain profit.

[TheAndy500]

In some part of course yes cause there you decide what will be done with it and you could always make decisions if you want to withdraw, use, transfer to different coin or other things. So for me it could be safer.

[sambuki]

Bank will be the safer place if we compare it with crypto. But in bank, the chance to get massive profit won't be exist.

[stasiulman]

Of course not. But the bank will not give such income, in case of success. The bank deposit is a very passive, minimum and long-term income. But if there is no certainty and acceptance of risks, then this is also a good option, provided that the deposit insurance will give safer at times.
Well, do not forget about the goals. Well, cryptocurrency is not excluding the holding of any money asset in bank.

[DatchRoem]

In fact, it can not be said that it is safer to keep money in the crypto or it is safer to keep money in the bank. Both the bank and the crypto are insecure. Risks are everywhere, even in real estate. In this world you can not be sure of at all anything.

[Remulewak]

No doubt it sufficiently safe to have your benefit in crypto, yet there some hazard you have to consider before move your fiat into crptocurrency, the esteem isn't steady today you get it at 100 usd tomorrow it can be 10. Furthermore, you better prepared if that happend or youll be down and out af.

[sharkpc2000]

both are the twin, reckoning on our consignment, reason I conjecture consignment, seeing both are both stored in the doublespeak, is sheltered, of degree safe however the conceivability of both as well be taken, how hacks be smarter, exclusive when we save in our protection bank more guaranteed.

[Gras]

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 safer to store money in a Bank than in a cryptocurrency. Perhaps over time the situation will change. However, at the moment, cryptocurrencies are a very volatile tool and this makes it possible to quickly get a big profit. However, at the same time, the risks of investment loss increase very much.