Is Bitcoin safer than banking?

[shield132]

If you are honest person, do only legal things and think you won't have problems in future, then banking is safe in any way. But on another hand, bitcoin of course. For example if anything happens, bank can freeze your account and funds, no one can freeze your bitcoins when you own them on cold storage. If you are getting caught and you run away, escape somehow, your only relationship with money can be done by bitcoin. I think everything is clear now.

[princestan]

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!

[peacefulpeace]

cryptocurrency is more safer than banking system, as we all know, crypto currency is other know as digital currency,the only demerit of crypto is that it is not yet adopted enmass by the public, if crypto becomes generally acceptable, then the banking system may become obsolet.

[zhelis74]

I think transactions in banks are safer then Bitcoin, because if the bank is legit and collapses, the government can refund your money but if someone hacks your wallet, no one will refund it for you.

Both of them have it's own risk and both of them are different. We use bank for saving our money but we use bitcoin for investment, Bank is more safer than Bitcoin because Bank is under control by the government but bitcoin is control by it's users. If you can't protect your wallet, you can loss your bitcoin by hacker.

Yes, I think all investment has its own risk and bitcoin by being a decentralized system the risk involve are carelessness of holders and no other party to appeal if there is something not good happen in the long run, so bank is more secure but less opportunity to earn profit not like in crypto currency that there is a high opportunity to be profitable if we gamble the destiny of our investment.

[creeps]

There is no safe place to put your money, you can still lose money in the banks it just so happen that cryptocurrency is more risky compare to the banks because of many hackers and scammers. This will also depend on how you secure your cryptowallet but in general banks is really safe especially if its a large bank.

[Al-e_x]

bitcoin characters is anonymous, so hackers will find it difficult to hack bitcoin wallets.

so, I think bitcoin is very safe, and if we compare that hacking bitcoin asset is smaller than hacking that occurs in each bank.

[dablatair]

Hello,

As soon as you secure yours wallets I think they are at the minimum as safe as banks. If you keep your credentials secret, be carefull of where you are going with your computer and avoid scams there is no risk of trouble.

If you compare to credit/debit card using yes I think it is safer as there is no possible copy or hacking of yours wallets with the required safety rules.

[BitGunner]

I think that yes, it is really safer than banking today because it is popularity is increasing and I am sure that coins will be popular in the future for long time. I will invest in them soon

[mrcash02]

Bank system is safer than Bitcoin if we look through the "mistakes" perspective. When sending Bitcoins you need to be very careful, once you hit the "send" button it's done, irreversible... At banks there are more guarantees you won't commit any mistakes: you put account number, agency, name of the recipient, and even if there is a mistake after all, you can contact the bank and they may accept reverse the transaction for you (depending the situation, of course).

But at banks you don't have any privacy and it's not considered safe in many cases...

[ayambawang]

I think both of them are the same, they have the same shortcomings as the security system, I don't see one of them being superior, the fraud will occur in both as long as there are gaps that can be penetrated by the hackers that will continue to occur, it's hard to prevent that because people the irresponsible people who are smart and very understanding of technology, the more sophisticated the system, the more intelligent they will be

[Coleth]

That depends on how careful you are in your assets. There is nothing wrong with banking and conne t it to online banking and download bank apps for you to chexk your accoint regularly. Bitcoin also can be check regularly because it is just in your gadget with the use of internet. Both can both be operated in internet, the only difference are the transaction fees. Both safe and both risky. It is up to you to handle.

[yitzjoe]

the security level of crypto wallets especially bitcoin is impossible to penetrate because the blockchain is desian for it. recording on almost all blocks and verified this generally makes us very safe.

[Indrawan77]

I think decentralised investment got a bigger risk than centralised one, if you are talking about fraud then there are a lot of cases in crypto, when you become the victim of crypto you wont be able to do anything because there are no regulatory body, identity theft could also happened in crypto when you joined kyc bounties, so crypto is not totally safe, if you talking about safety I think bank is better, but its all depend on how careful you are

[Finestream]

bitcoin characters is anonymous, so hackers will find it difficult to hack bitcoin wallets.

so, I think bitcoin is very safe, and if we compare that hacking bitcoin asset is smaller than hacking that occurs in each bank.

I agree.It's more safe to entrust your assets into your bitcoin wallet than putting it all in a bank.Many people may have trusted banks for a long time since there is no other option,but this time crypto wallet is already here wherein you have all the full control of your own assets.But still you should also be responsible for the security of your own wallet.

[Tramle091296]

Bitcoin is decentralize no one can get what you have on your wallet even your criminal. your a prisoner no one can get it even in a Supreme Court. Supreme Court has the power to freeze you account because your accused on a crime that gives them authority to your account on the bank just a little agreement signing paper it can work but on the bitcoin even your dead no one can get it as long you are the one that know about it. The only thing that can way to get someones bitcoin is stupidity for being careless and get it hack.

[billygarrison]

I think 100% bitcoin is safer than banks, because bitcoin cannot be hacked, it's just hacked if people keep complete data on bitcoin wallets easily, so I suggest storing complete data on bitcoin wallets in a safe and confidential place.

[Myown55]

With the amount of profit that a person can earn from bitcoin within the shortest possible, I think that bitcoin is sweeter than Bank investment. But in any business avenue, the higher the risk, the higher the profit. I believe that you can suit yourself now.

[Anam313]

For me no one can guarantee 100% security for Bitcoin and banks, Bitcoin and banks have their own strengths and weaknesses, so nothing is truly safe. You can't just put down the banking system because there are some shortcomings in it. and you can't say that bitcoin is 100% safe because there are hackers who can take your Bitcoin.

[sicnarfwb]

Both BITCOIN and Banking are safer interms of saving money/digital money currency. It depends on how you manage your savings, always make it privacy your password/pin code/key/personal info/etc.

[prj112031]

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?

well it depends extra security applied on crypto will be great like 2fa or authenticator, how ever lets admit it be aware to those hacker keep your credential on only one computer, bank is a good place to keep your money safe but if there is a robbery at that bank or any anomalies its pretty hard to trust another bank again.