Is Bitcoin safer than banking?

[franklin hoses]

It depends, in terms of transactions and moving large some of money then bitcoin is safer. Building your money while its been saved, bitcoin is safer... saving your money and not expecting much in return, than you can try bank!

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[blackhawkeye1912]

Banking would still be safer than bitcoin because of its high security compared to bitcoin wherein bitcoin exchanges, bitcoin wallet, other digital storage that can be hacked. If ever banks been robbed, insurance policy comes in. While you can not retrieved any stolen bitcoin.

[4rzun4]

When talking about security, of course I see that banks are safer because they are recognized and protected by the state, while bitcoin is not. But if you talk about the benefits, of course, bitcoin is more profitable than banks.

[nitishkumar9999]

I think yes bitcoin is safer and better than banking because of these reasons:
1. YOU DON’T NEED PERMISSION TO USE IT
2. THERE ARE NO SPENDING LIMITS
3. QUICK INTERNATIONAL SETTLEMENT (NOT POSSIBLE IN BANKING)
4. ALL TIME (24/7) ACCESS
5. YOUR ACCOUNT CANNOT BE LEVIED
6. LOWER TTANSACTION FEES

[yulchatar]

Of course, bitcoin is safer, as long as no one knows the key to your wallet. This is the only thing you should always remember and take care of it. Having bitcoins you are their sole proprietor but we can't said the same about banks who use your money until you don't need them. And only you are responsible for all operations with bitcoins but not the bank employee.

[Senya777]

Bitcoin is certainly much safer if the Bank is a decentralized blockchain system . You can freely track all transactions. However, the security system in the crypto world is also worth thinking about. To date, I and all my friends do not want to keep their savings in the Bank, this is a forced measure. We are waiting for the legalization of cryptocurrency .

[cramcram21]

Well I think it is much more safer specially if you are keeping your Bitcoin in an offline wallet,
For me Bitcoin is much more safer if you just want to keep your money secured.

[thepers0n]

I think there are different sides of this questions. BTC is faster and uses no third-party transactions. Moreover it is decentralized. But state banks can guarantee the safety for customers.

[kzozenberg]

To be honest, I trust bitcoin more than the banks I do not see them in the future and I believe that the banking system is outdated and slowly dying !

[CryptoSmile]

Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.

This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?

Certainly bitcoin is more profitable than banking, regarding security issues, I think it depends on how we can keep from avoiding crime and fraud which can harm us either through bitcoin or banking. Both bitcoin and banking both have their own advantages,and both of them are quite safe as long as we can maintain the assets we have both bitcoin and banking.

[mohammedmattar]

Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.

This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?

I suspect that privacy (decentralization - where no control is on the one hand) in the BTC world has great value
Where no one can identify your accounts or rob them
In banks, it is possible to steal your accounts easily.

[suzanne5223]

Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.

This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?

saving money or investing in crypto is more profitable than saving money in a bank. I have long invested in crypto currencies and until now my bitcoin wallet has never been stolen. if you want to store bitcoin and altcoin I recommend storing in a wallet that is often used by people or wallets that are already known in the crypto world.

I think Bitcoin and the bank system are both the same in terms security because  some of those who are fraud are definitely those that don't avoid the necessary human error. Nevertheless, if we're talk about investment bitcoin is more safer than banking.

[zarintasnim]

Security is the main key to every field to save your money. Otherwise you lost your all money. Yes banking system is still continue fraud. I think bitcoin is more secure for banking system. When we use bitcoin no need to go third party i you only controller of your wallet, border less transaction. To safe must keep your private key and password safe place.

[muarip]

When talking about security, of course I see that banks are safer because they are recognized and protected by the state, while bitcoin is not. But if you talk about the benefits, of course, bitcoin is more profitable than banks.

That's right, Bitcoin is only profitable for people if they have a strategy to buy when prices go down and sell at high prices and this is far different from a safer bank even if you have to spend your money to pay taxes.

[jameswell]

As someone mentioned earlier in the threads, timeshare might not be a good example here.
There are Pros and Cons of both traditional banking and Bitcoin sides.
You have to safely store your private key to make sure it is not stolen, lost.
There are technical and practical difficulties in order to safely store your private key.
and if something bad happened to the Bitcoin owner, others (i.e. family members) may be not able to retrieve the Bitcoin without the private key.

[letsfly]

I believe bitcoin is safer than banking. When you put your bitcoin in a safe wallet , the amount of it after a year is still the same and less chances of getting hack. While if you put your money in the bank , in one year time , your money is no longer the same because of the fees and inflation rate.

[arthotdog]

Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.

This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?

I believe its not because of virtually operational meaning we have no physical assurances and this is the risk you might take here in cryptocurrency community if you wanted to gain much bigger than any banks in the world might offer

Imagine the volatility of bitcoin and the decentralization can bring you enough income if become lucky and knowledgeable towards crypto,if you will use your skills and brain since the willingness and perseverance is needed for the cryptonians to gain huge amount in future.

BUt if you will only enter this community just to get a quick bucks thn i must tell you this is not the place for that,and failure will only brings you because this needs to learn and earn

[Jdleonor]

Bitcoin is a safe because when you hack the system we need all computer to hack that. It is bitcoin safer than banking. a wallet that is often used by people or wallets that are already known in the crypto world.

[millgates]

No, no one is responsible about your bitcoin except you. But bank will take that responsibility of your bitcoin, if bank is robbed then you still can get your money but if your bitcoin wallet is hacked then your bitcoin will loss forever.

[Faraha_JJJ]

I would go with Bitcoin any day, Bitcoin is decentralized and evrythinany banig is visible on ledger and it's fast and it's eco-friendly. Security is on par with any banking system. Bitcoin forever and it  will eventually bring down fiat.