Is Your Money Safer In Crypto than at the Bank?

[MikeGAZ83]

I think your cash is totally safe within the bank, however you do not have full management over it. cash is safe, however it does not grow abundant, it simply loses its worth to inflation. And in encoding, it will grow heaps as associate investment, however it isn't terribly secure if you do not have a hardware billfold.

[tolla123]

I believe fiat currency is still safer compare to crypto currency since crypto currency is very risky and volatile. The only reason that fiat currency is safer because of security but in terms of profit perspective it would be obvious that crypto currency will be chosen.

[Gralph]

The issue of security of our money is something we take very serious, although I am going to give a double barrel answer to this question and which is;

1. As one who is profit profit oriented,  I think the cryptosphere is a better place to keep your money due to its multiplying tendency to increase your savings as the price and market value of coin increases.

2. Although the slim risk is when you invest your money into cryptocurrency and the market value of that coin falls below the actual amount you used in purchasing that particular coin.

In a nutshell, our money is more safer in crypto than the Bank.

[biuifyus]

Keeping money in bank accounts is safer, but only because Banks insist on an established economic system.

Investing in cryptocurrencies isn't the safest, but it can be hugely profitable.

[poiuyt1994]

At the moment bank is probably safer, but here is a huge but. I am not a big fan of any bank. They are in an unequal power position compared to a regular consumer. For me, this is not so much about safety than changing the commerce world to more consumer-friendly in the future.

[HashieNewb]

The answer would be no, I still think bank is somehow more secure.

Banks are way more safer than having money in crypto. Bitcoin and altcoins are not meant to work as a bank.

[Abiky]

Yes i think so investing in crypto and leaving money there is more satisfing and safer than the bank hope you can deal with volatility

Cryptocurrencies are safer than Banks if they remain alive as a blockchain network. I've seen many altcoins abandoned by developers, which had resulted in a dead blockchain over time. Due to this fact, users who had been hodling an abandoned altcoin for a long time, cannot cash out into a cryptocurrency exchange, leading to total money loss. In this case, Banks are safer than cryptocurrencies because your money stays there with you for years to come. If a theft occurs at a Bank, or a natural disaster happens, you'll rest assured that you'll always get your money back since it's insured by the government (in the US, the insurance entity is known as the FDIC).

However, with cryptocurrencies like Bitcoin and Ethereum, you don't get any kind of insurance, leaving your money at risk in the event of a blockchain collapse, network disruption, among other factors. While it's very unlikely for that to happen with these popular cryptocurrencies, we should be aware about the inherent risks of cryptocurrencies before deciding to secure our money in them for the future. If Bitcoin remains as an immutable blockchain free from external manipulation, then your money would be safer in there than a Bank for many years to come. All you would need to do is store your coins in cold storage with offline-generated keys for maximum security.

Nevertheless, for some people, a Bank will always be the safest place for the long-term storage of money, while for others, cryptocurrencies are the All-in-one solution for their financial needs. It all depends on the specific person's preference to secure his or her money for the long term. Just my opinion

[aceptamosbitcoin]

The answer would be no, I still think bank is somehow more secure.

Banks are way more safer than having money in crypto. Bitcoin and altcoins are not meant to work as a bank.

You are absolutely right. This is the main thing that most people don't understand here. Crypto is not made to work as a bank. Banks are not only transactions processors.

[Kurokonobasuke]

If it is security of not losing money or profit that you are pertaining to with the word safety, then it is bank which is the right place. Cryptoindustry is really profitable as what the investors have told. But things are different at this moment. Downfall movement is dominating the market which highly affects your wealth, which is unlike in banks that stability is present.

[bright07]

The money we invest in crypto can be double in few days and if market price is low it can be half or less. As we invest in any business and our business grow then we get good profit. Money we save in bank cannot get low but interest on that money is fixed for some time. This is your decision whether to invest or not.

[monster2]

Bitcoin only knows that I know how to save money than bank sites that are not sure because the bitcoin wallet is like a vault that is also used by many people's funds.

[firozat01]

Ever since I discovered crypto, I have never thought of leaving more money in the bank. I leave most of my money in crypto as I have control of it. I don't think abut whether someone will escape with my money or not!

[TuKillerBR]

Yes cryptocurrency is almost impossible to lose, as cryptocurrency wallets have the highest degree of security. And you can cash out your cryptocurrency at any time and do not need to get permission from the Bank.

[heninur]

if you want to save your money for security and do not want to invest it, then in my opinion your money will be safer if stored in a bank. but if you want to save your money while making a profit, then I suggest to save it in crypto, but there are some risks that you will face if you save money in crypto, one of the risks is that you can lose your money if you do not have investment knowledge.

[zedaq]

If we objectively talk about this, then I think that all this is clearly not true, now it is dangerous in crypto-currencies, but many understand that in the future, crypto-currencies will be very profitable, that's when, this is the main question.

[basyang]

I think that is very important to determinate what do you want to do with your money. If you want to save them, than the bank is the best option - very low rewards and very low risk. If you want to earn money and you are looking for profit, than the crypto market is for you. Potential very high profits, but high risk involved, as well.

Yes you are right about that. But personally, If I choose which is more safer in crypto or in the bank. Well, for me the answer is both none, my monry can not be safe in both choices. Even if I choose Crypto rather than Banks still there are so many risk in keeping my coins in virtual world especially if there are people who hacked it. If I choose Banks its not also safe though, many banks got robbed.

[spinnigline]

Of course in the Bank,because Bank deposits are insured, and cryptocurrency - no.

[Ucupers]

If you would like to invest in profitable you can invest in crypto. By investing certainly you have the opportunity to benefit. But if you want to save your money safely. You can save it in the Bank because the perfectly safe. And the Bank must also provide a security guarantee to you.

[Umnikt]

I don't think it's safe to keep your money in Crypto. Definitely at the Bank, it'll be safer .

[sanacaks]

It can be decide how the economical condition in your country, last few week in Turkey dollar has raised a lot compare to Turkish Lira (TL). Because I was in crypto I lost in dollar But I am ok in TL.