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Author Topic: Is Bitcoin safer than banking?  (Read 2736 times)
NavigateSamurai055
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September 12, 2018, 05:41:57 PM
 #181

I think bitcoin is safest than banking and there a a lot of reasons behind this among them I think the best one is bitcoin is run on blockchain.
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September 12, 2018, 06:17:29 PM
 #182

Bitcoin is safer than banking because day by day bankruptcy are very frequent in every country and robbery also but there is no chances of all this in butcoin.
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September 12, 2018, 06:49:04 PM
 #183

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?

Definitely Bitcoin is much safer than the banking processes. However, nowadays there is no such thing as 100% safety with regards to the assets of an individual. Thus, we cannot avoid criminality even in a virtual world or in the real world. One thing for us to increase safety is about knowledge which a person should know how transaction and procedures are done in a particular institution. To assure the protection is to acquire learnings about the risk.
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September 12, 2018, 06:58:27 PM
 #184

Despite the huge statistics of bank fraud mention in the post conventional bank is still safe more than bitcoin wallets to the clients or customers. This is true because every deposit is covered by deposit insurance against any loss or theft. The bottom line is that customers are always paid back their money that is already with the banks if it is stolen or the bank closed down. But incase of Bitcoin there is no such insurance covering. If you lose your wallet it is gone with the fund inside it.

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September 12, 2018, 07:05:36 PM
 #185

Yes, It is safer than bank, as It has no physical existence at all and It is totally decentralized and It is very difficult to trace the transaction even hacker,s face many difficulties while tracing.
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September 12, 2018, 07:17:34 PM
 #186

I think, that in our time there is no at all nothing a safe)But between
 Bank and bitcoin, I choose bitcoin.Here at least the annual income is higher.I put the money in the Bank and on the exchange.The exchange has brought in contrast to the Bank a good income.Even though the course is racing.In the future, there will be a serious struggle between these areas.Banks are obsolete.We live in the digital age,so I think bitcoin is the future.

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September 12, 2018, 07:49:29 PM
 #187

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?
If one can't thoroughly read a contract this means he is not competent enough to make ANY kind of a deal.
I would call such an individual a mentally retarded one if I wasn't aware of the persuading power of bank officials.
What I mean, banking is definitely not safer than dealing with crypto - in the latter case you can even more easily be scammed or hacked or whatever.

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September 12, 2018, 07:56:25 PM
 #188

Bitcoin can be safer than banking when bitcoin users have a lot of knowledge about how to secure their bitcoin. If they do not know how then it can be ascertained that he/she will lose his bitcoin at a time.

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September 12, 2018, 08:04:11 PM
 #189

I think in a sense, yes because the chances for a bank to go into bankruptcy is way lower than the chance of Bitcoin fluctuation causing money loss. At the same time, banks have very low interest rates compared to the amount crypto investment could generate.

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cryptograce
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September 12, 2018, 08:04:58 PM
 #190

bitcoin is in no way safer, in fact, no financial structure is safe, everything is a risk. bitcoin seems to be more profitable.
Gozmoc
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September 12, 2018, 08:11:28 PM
 #191

in all cases, bitcoin is safer than banks, for those that really knows what they are doing.

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September 12, 2018, 08:14:34 PM
 #192

maybe in my opinion it's a good idea to save some of the money to bitcoin or invest in the crypto world, because the crypto world can make big money fields Grin
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September 12, 2018, 08:29:56 PM
 #193

Yes, becouse its based on blockchain. Banks can be off at any moment, but millions of other peoples - cant.
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September 12, 2018, 09:00:25 PM
 #194

It is becoming regulated on a lot of countries, and the centralization from some coins is already happening, so i would really doubt that it will be a non-decentralized currency in a near future (if it ever gets no regulated) so lets wait to see what happens.
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September 12, 2018, 09:25:39 PM
 #195

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?
You can either be scammed by a crypto-related project swearing that all your money will be safe. They all say that if you invest in their mining equipment or their social media tokens you will get an ROI up to %5000 in half of a year. But that's not true - and many such projects have proved to be a scam.

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September 12, 2018, 09:33:02 PM
 #196

Bitcoin can not be arrested, confiscated, taxed, inflated.
Bitcoin definitely more safe than banking.

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September 12, 2018, 10:13:43 PM
 #197

In my opinion of course bitcoin is safer than bank, because we knowif we save money in bank, bank can still it, and there are many things like that, also our money is reduce and fiat will inflation, but if save money in bitcoin. no one can stell it, Also bitcoin prices always increase, no inflation and will give benefits in future. Bitcoin is future money

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September 12, 2018, 10:17:07 PM
 #198

Although I like Bitcoin and cryptocurrency. But I still feel keeping money in the bank is safer. No much hacking at least.
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September 12, 2018, 10:25:44 PM
 #199

Yes, it's true that bitcoin is safer than banks, for example, I want to send money to another country, with bitcoin only takes 5-10 minutes and when sending through the bank many processes must be completed and take days and the security is very bad.

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September 12, 2018, 10:53:09 PM
 #200

Maybe for some reasons, bitcoin is safer. Take an example, if we decide to keep our money stored in banks with a third party, then there will always be a chance that our account gets levied. What this means is that governments will implement bail-in-policies which prop failing banks to go after bond holders. This is never going to happen with Bitcoin accounts since no is allowed to touch our money.
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