Is Your Money Safer In Crypto than at the Bank?

[changxia]

If we only discuss security, then it is safest to put it in the bank, but if we are discussing the issue of income, then investing in bitcoin is better!

[chengyinoing]

I still feel it's safer to stay in the bank, and the crypto market is a good place to invest for people who like to take risks.

But if you're smart enough, investing in crypto is more profitable than banking.

[CrossHedge]

More risk so more returns....depend on what you are looking for

[bobyhodob]

I still feel it's safer to stay in the bank, and the crypto market is a good place to invest for people who like to take risks.

But if you're smart enough, investing in crypto is more profitable than banking.

we have to think about financial management, I think those who understand that will definitely save their money properly.
saving money in crypto assets we call it investment and we save money in the bank is our base money

[kkerrex]

My money are definitely safer in crypto, if I hold them on Binance or cold wallet. In other cases all of my money could be stollen, but in case of bank account, it can be frozen.

[Arcanefist]

I believe that not all countries place money in banks safe, they can be lost and in that case. But it's just that many people have no choice, so they are forced to pay money to the bank. Personally for myself, I consider the option of buying BTC and reliable altcoins a more profitable solution for ambitious people.

[boris1985s]

I cannot tell that my money in cryptocurrency will be in bigger safety what in bank. It seems to me that it is one and too. With honors that in cryptocurrency you can earn more percent than in bank. But you can also lose practically all the money.

[phandiep]

I will say NO to this question. If your money is in the bank, there is a full assurance of the safety of that money. but when the money is in crypto, there are three thing involve, is either the value reduces, Increases or even lost your investment to scammers.

Exactly, the bank under the management of the government, it will always be a very safe place for our money, unless the bank and the government cooperate to get money from us, otherwise, our money will always be there with a security group and a thick gate. While the crypto is as obvious as you say, it is very volatile and it can happen in just a few minutes, we do not have the safety here, what we have is the opportunity to make more money and enrich us

[Norihiro]

Actually I don't think so because crypto is shaking extremely hard now, you'd store 10000$ and be with 3000$ after several months, so where is safeness?

[ARTIST 1991]

For me does not matter my money in cryptocurrency or in bank. Both there, and there they not in safety. But at least when they in cryptocurrency, they prinyasit to me more income than in bank.

[Cashi]

For me it really depends on where you store your currencies. If you store them in an exchange and it gets lost like Mt.Gox all your funds are lost, so bank is safer. But if you handle your currencies right, you will have safe currencies, too.

[ARTIST 1991]

For me it really depends on where you store your currencies. If you store them in an exchange and it gets lost like Mt.Gox all your funds are lost, so bank is safer. But if you handle your currencies right, you will have safe currencies, too.

It seems to me has no difference where exactly you keep the cryptocurrency. Glavno, that you store the money in cryptocurrency, and it is very unpredictable.

[mastersay]

If your aim is to store your coins in a safer way, it is still a good way to store and hold it in the bank rather than converting your money into cryptocurrency and hold it in your wallet. In crypto, the value may rise, but the risk of it is too high.

[tooiu3]

No, I don't think so. I think banks will be safer and there are certain risks in the encryption market. For example, this year's encryption market, which has caused many of us to lose a lot. Because the price of cryptocurrency has continued to fall in this year's market, and has not recovered.

[smitch230789]

 I think it still safer to keep your money in a bank compared to crypto...Besides, you can go to your bank anytime you want to check the status of your money...

[harm]

For me, banks are the most secure in keeping your cash if your expectation is just to spare yet it's not shrewd to simply put your cash there because of low premium and its esteem ends up lesser after some time as a result of the swelling. In crypto, it was extremely hazardous to put your cash particularly when to don't have enough information on the best way to astutely exchange and contribute.

[Ayston]

Either way bank are safer since the bank is accountable for your money is something happen without your authorization... But earning on bank is little if your not going to move them..
In crypto side you can earn as much as you can but risk and safety is a little bit risky...

[thenameisjay]

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

Honestly, I find it safer in the bank rather than having my money on cryptocurrency. You'll never know when will the token or the alt coin will ever plateau and fall down in pricing. That's how unpredictable and volatile the market is for cryptocurrency. I think it's pretty much safe in the bank.

[shoujiuhaituo7]

I think the bank is the safest place to store your cash. Your money is safer and easier to access in the bank than in the password.

Do a good research before putting money into a particular project, and there are opportunities to profit from your crypto investments.

[Ionzar]

Both options are clearly not ideal, have their own important shortcomings. If you want to be more or less confident in protecting your money, you can work with banks. But I personally prefer to avoid control by the state, and also earn a little, so crypto is best for me.