Is Your Money Safer In Crypto than at the Bank?

[asder250]

Your money is safer in the bank than in crypto, we all know that in cryptocurrency the price of any token are moving so fast.
its volatility will make is dangerous, you might woke-up someday that the token has no value, unlike in banks you will have the value as it is with a minimal interest.
though in crypto you can make more money than in banks you need to be attentive in this.

Mnah, it is not only about the value. And if you are talking about the value look what is happening in the world: Russia, Turkey, Venezuela and many more.
People trust in their banking system and what they now have? Nothing.

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[bfreetogo]

it's safer in a bank in my opinion:
banks got insurance in case that they get robbed  so even if your money gets stolen you will get a refund in some way
in crypto if your money gets stolen it's lost and yo could say that you need to keep your private keys safe and that's true but you never know that you send your funds somewhere (could be an exchange) and that that party gets hacked.

[ggezlink]

Crypto can gain profit in any case yet it is somewhat hazardous, there are individuals who tries to hack your wallets and take your property. Be that as it may, there are plenty of ways you can bolster your security by keeping your passwords and private key secretly. When your cash is in the bank you can get some profit but is minimal.

[Wong Goblog]

For me saving money in crypto is certainly better and more profitable, I'm not interested in saving money in the bank because it can't increase, and of course saving in crypto has the opportunity to get big profits.

[bit..what?]

It feels to me like both are equally safe.
Banks or crypto have their own advantages and disadvantages.
So i cant say one side is safer.

[kak uli]

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

in my opinion, it's safer that our money be stored in a bank rather than storing it in a dopet address in the form of a digital currency. I think the security is more guaranteed in the bank, but the profit will be more if it is used as capital in crypto. I think that's the advantage.

[jjdub7]

our money are a lot safer in the bank. When you keep your savings in the bank the money are protected by laws and if something goes wrong the money are still safe. In crypto the situation is exactly the opposite.

[camho]

everything is full of risk,,saving money in bank can not help the money to appreciate instead their will be deduction of money in bank monthly,,,so if we can use our money in cryptocurrency,,there is every possibilities that it will turn our in millions fold than keeping money in bank

[DaryaCrypta]

No, they are not. As if the cryptocurrency in Russia has not developed, it is not legal yet. Still there is a rule, never keep your finances in one basket.

[thaokhuyen08]

I think they are at risk and in danger of losing money when there are large fluctuations. Reduce abnormal rise in the market price of electronic money makes you his devalued or increased; with the bank, the value of money will lose value because of inflation and can take when banks go bankrupt

[JBauer7]

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

[Balinsayaw]

Your money cannot be safe in crypto. The Volatility of crypto market is too high and putting all your money on it is too risky as well.
You can earn a lot in crypto but the risk of losing is high too.
If you want your money safe and earn in a period of time mutual fund is better. But if you want to risk for the exchange possibility of big revenue then crypto is much better.

[Abbey77]

Money in cryptocurrency is not really save, because Once you re scam and you can't face anyone to reclaim your money, but money in banks can be reclaimed

[deepakg2m]

Truly speaking, no, your money is more safe in bank than any cryptocurrency investment. In banks, the money will be constantly stored safely unlike cryptocurrency where the price of your invested money is changing frequently.

[ooxtcoo]

This is a rather difficult question, you can lose money with any option. But in the crypto currency you will give a report to your actions and risks6 you will be able to choose your own investment strategy. If you are a beginner, then of course it is necessary to resort to the help of specialists.

[wizmo]

I think money in banks are more safer than in crypto wallet because in bank If your money get debited without your knowledge then you can contact bank and they will help you to restore funds but in crypto once money is gone is gone you can never claim it back. That's why every new crypto currency user must take some knowledge of how to use wallet before they start using it.

[kriptoman171]

I believe that my money is safe in the bank, than when I store it in crypto, but on the other hand the cost in crypto can increase many times, and in the bank it decreases because of bank taxes.

[Umnikt]

Of course, the security of your cryptocurrency is entirely up to you.Crypto will just give you the risk of losing or fluctuating.

[adolf512]

All types of investments have their risks, advantages and disadvantages. You need to invest the money that you are not afraid to lose. Your money in a crypto currency can quickly increase the cost, but can on the contrary - decrease. the only thing is when you need money, you can easily take your money from the bank with the bank you want (without loss), but in this situation the crypto-currency market is all much more sad.

[rizkyhiw]

If you ask me it will be safer to save where, I tell you that it is safer to store in a bank. in fact if you save to crypto it is very high risk to be hacked. but with you saving in crypto it is far more profitable than you save in the bank.