Is Your Money Safer In Crypto than at the Bank?

[Rony24h7]

What do you want with your money? If you want earn low profit then bank will be the best option for you with low risk But you want earn high profit then come in crypto earn high profit with high risk. Every investment has a risk, if you want to make your money double then you have to invest otherwise it cannot be double. Do you know? Everyday millions of crimes are committed annually using cash; slightly fewer crimes are committed in the sphere of the economy. Digital wallet and Bank are both good then they have different worth. Our tendency is secure our money with profit, and then we should choose what kinds of profit we want to gain. If our goal is small then out risk will small its depends on our goals.
Crypto currency just like democracy, money, by the people, for the people!  If your are using digital wallet without exposing your private keys online then yes your money is safe in crypto.

[ProstoCrypta]

There is no clear answer to this question. On the one hand, the transfer of money is more secure, but in the long term there is a risk to cash out money at a very unfavorable rate.

[victory.lil]

Perhaps this is true, but it all depends on what you will use as your wallet, because it is very important, but we are talking about what is better now, so I think that investing in crypto currency is normal.

[harley.kitty]

Even though it is safer to save money in a bank, there is a limit of the amount so that your money is guaranteed. While on Cryptocurrency you are the bank itself, even though the risks faced will be far more dangerous but you can get huge profits from cryptocurrency.

I prefer to invest my money rather than save it, you can save and also invest by buying gold, property, land and even bitcoin for a period of several years.

[MasckRRR]

Money in the bank is safer, but some banks may be unreliable. When money is invested in the crypto currency, you can earn a lot. But this is a big risk and luck.

[micle222]

Still, it's safest that your money is saved in the Bank, because when there is hacking against the Bank, you can claim your money so you can return to your wallet.

If in Bitcoin, when your private key is hacked, then you cannot claim, and who do you want to claim? LOL

[mangle]

course no, it's safer to keep it in the Bank .... crypto is not stable , you can lose all your money

[Abiky]

Still, it's safest that your money is saved in the Bank, because when there is hacking against the Bank, you can claim your money so you can return to your wallet.

If in Bitcoin, when your private key is hacked, then you cannot claim, and who do you want to claim? LOL

That's certainly true, mate. Because banks are regulatory compliant, they have the obligation to abide by the law to protect their customers funds. On the contrary, Bitcoin's nature is decentralized and there isn't a single entity responsible to safeguard people's money. For this reason, your money could be a lot safer in a bank, than at a cryptocurrency itself. However, for tech savvy people, cryptocurrencies like Bitcoin and Ethereum would be a lot safer than a bank, if only they have access to their private keys.

When only you have access to your private key, then it's nearly impossible for anyone to steal or gain access to your funds. In the case of Bitcoin, if it remains immutable, then your money would stay there for many years without being spent or controlled by someone else (if you're private key is safe from prying eyes). Therefore, I believe that it's a matter of choice whenever someone wants to secure their money in a cryptocurrency like Bitcoin, or simply let banks do all the hard work for them. In the end, both are secure ways to store your money for the long term. Just my thoughts

[Stormspirit]

To be honest, investing in a bank is much safer than investing in cryptocurrency. As we know that investing in cryptocurrency is more risky than depositing money into a bank. Even though investing in cryptocurrency is a risk, the profit can be greater than what we keep in the bank. all back to our belief, whether we are sure and ready to accept the risk of investing in cryptocurrency or not.

[Glen1989]

Not so long ago, Banks burst one after another . Therefore, there is no confidence in the safety of their profits nowhere . I'm all for investing in real estate. And in bitcoin to make money and sometimes display

[rltim555]

I believe that my money are safer in crypto,because it is decenteralized and nobody have access to money except me. It is a requirement for me.

[bitcoinmar]

Re: Is Your Money Safer In Crypto than at the Bank?

of course they are safer at the bank, but keeping them in crypto is more profitable, but risky

risk always comes when we save our money in crypto. if we are not careful and careful then our money might be stolen by someone. actually saving money in the bank or in crypto is the same depending on how we own it, how we secure it.

If your money in the bank its value will not change much after a year because it depends on the inflation of each country. And if you invest that amount in crypto, it can increase several times to several dozen times

[pinoyrichkids]

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

Its absolutely safer in the bank than putting in cryptocurrency, but when we talk about the gain that we could get, still it is presumable that putting in cryptocurrency might earn a lot, but there is no assurance of it, it maybe loss, or a gain, but rather, putting in a bank presumes that the money you invested might earn a small portion, but it is a sure one.

Still bank is better in holding funds.

[catok broek]

the level of security in money deposited in crypto or bank types is actually equally safe, it's just that there is nothing in the crypto type that guarantees binding legal legality. and if it is to save the bank more insurance coverage that binds the law and is more clearly visible to use.

[DreamCayman]

Our money is in the same degree of insecurity both in crypto and in the bank. Our security depends on our with you care and caution when using passwords of bank cards and secret keys in crypto. Be careful and your money will be safe.

[aileen393332xe5157]

I think, with the current situation. My money in the bank will be safer in Crypto. Due to the nature of non-government, the nature of abnormal fluctuations that money in the crypto will be easy to evaporate. But if for investment exchange, I would choose to my money in crypto. In crypto, I will have the opportunity to earn a quick profit.

[Teal Deer]

I think it is safer to store your money in digital assets, such as bitcoin. The most important thing is to use reliable protection systems against hackers. I do not trust banks for a long time, they often go bankrupt and do not return the money.

[Cmoh]

Safe as far as you hold your crypto in a hardware wallet otherwise there is no single penny of guarantee or warranty of your money. But in terms of value if we say there is definitely the erode of value is a must. So, always trust upon banks if your money is not black.

[clipman77]

I keep my savings in Bitcoin, I consider it more convenient and safe for me than storing in a bank account, which can freeze or close at any time, with Bitcoin this does not happen. I am 100% sure about this.

[maflec0713]

Hi. In terms of safety, I think it is much safer in the bank you trust. Compared to cryptocurrency, the value is fluctuating and we will never know when it goes up or down. It is still safe in bank because of it is far from hackers. Once the money was stolen in your wallet, then you will not recover it anymore. But if your money was stolen in the bank, there is a chance that you can still recover your money from the bank. The disadvantage is that the interest in the bank is too small compared to cryptocurrency where sometimes it doubles your savings. It depends in you which one is better, the risky choice or the safer one.