Is Bitcoin safer than banking?

[Skrattar Du]

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?

For me, bitcoin is good at helping people but I still doubt it because in investing in bitcoin there is still a chance that you will get scammed because it is digital, in banks there are a lot of safe and secure banks right now because they are popular and many people used to it, I still go on banks rather than bitcoin, maybe I will into bitcoin if there is a news that it is safest and authorized from secure company.

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[erichall]

It is becoming regulated on a lot of countries, and the centralisation 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.

[proxydomain711]

The safety of your ownings depends on your carefulness in handling it. You should always review contracts in every detail of it before accepting.

Either way, going bitcoin or banking, safety relies on your own responsibility and on the actions you're making involving your money. The only difference is that banks also have the responsibility when something goes wrong that is not your fault. You'll get assurance that you'll still have your money, while in bitcoin, the blockchain protects your money and cannot be hacked. However, online attacks are there and once you fall for these tricks, you're savings will be gone, but that's your fault and no one is responsible to back you up for the loss.

[deppil]

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.

for wallet security issues I can guarantee that it is safer to store in a wallet than to store in a bank because there are many risks like scamming that you can get from the bank itself or from someone else who stole your ATM pin. but for other risks it will be more securely save on fiat or bank because bitcoin is volatile

[daffa68]

Yes, It is I believe bitcoin is safer than banking because Bitcoin is valid, believe and safe digital money in the world

[meanwords]

Fraud is a human mistake, not a banks. To be honest, banks is safer if when it comes to security and such. They won't give your money to others so easily so you won't have to worry. Cryptocurrency on the other hand when you invest, you are depending on the price. So bank is safer.

[0t3p0t]

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?

Bitcoin for me is much safer in terms of security, privacy and control due to encryption and decentralization thought it also has risks but are less likely to happen if we are aware of what we are doing online. Bitcoin is best for investment purposes or as a payment system unlike banking our fiat funds that is controlled by the government that is always watching over every activity we have made in our funds which is kinda tresspass our privacy and they also deduct taxes on every transactions.

[Sakibhasan.bd]

I am agree with you. In my opinion use of Bitcoin is more convenient than the bank and it is safe. A newcomer can use bitcoin easily. To using Bitcoin is also more accessible than banking.

[tokenabu]

Bitcoin will become a global payment system one day. And I'm very sure of that. If everyone already has knowledge about bitcoin, then bitcoin will grow as a payment system. Bitcoin will be increasingly preferred because bitcoin offers easy transactions.

[bocah cilik]

in my opinion, everyone must find more information when getting an attractive offer, such as a vacation or a profitable investment potential.
We have to find out more in what company or service offers it, and we have to see whether it is trustworthy or just nonsense, do an information search that can convince you not to believe easily just because you get a big gift or dream.
If you want to save the money you have on bitcoin you must also pay attention to market behavior before making a purchase and you must keep your wallet key privately and take care of it seriously.

[ClackKendi]

Some people like to invest in the digital market, but some people prefer to invest in the bank, but if the investment in the bank we will receive low profits but are safe.

[pretius99]

in my opinion, bitcoin will remain safe while we store it well, don't easily trust bogus investments because to be rich, one way is to trade, you don't need to invest your bitcoin into an investment site because in my experience every investment website will definitely be a scam

[Anies_Sandi]

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?

in my opinion the lack of a system in a bank can be closed with an excess of crypto currency security issues as you mentioned and we also know crypto currencies use technological advances in their use

[adjong]

for me it depends on where you believe in bitcoin or banking because for me it is better if you bitcoin because bitcoin does not lose your money when you have a deposit account like coinsph pwedi can invest there anytime You want, unlike banks that will not raise your money when you hide it there is a possibility that your money will be lost.

[Gaman]

It depends.  If you deposit in a bank and the bank gets hack, the bank will pay you.

But if your bitcoin is hacked, no one will pity you.

[Saimabutterfly]

Bitcoin is a way better investment than anything in this planet but you need to have lots of patience.

[seramania]

actually bitcoin is not safer than bitcoin, but bitcoin only offers big profits and so many people choose bitcoin, but ultimately banking will be the best place to be used as storage.

[karagun125]

I dont think so, in my owd idea, i think that bank investment is safer than bitcoin, since there are so many hackers and trying to hack accounts. Bitcoin is safe for as long as you will keep secured your private key, and should not log in on any phising sites to avoid scammed.

[beezare]

I think, banks will be safer than bitcoin because they have a smaller risk, and if you feel harmed by the bank then it is your own fault that you cannot choose a good bank and are too confident with the program from the bank without asking more clearly, the bank trusted will not deceive its customers, but for investment and profit I prefer in bitcoin

[dekcutbusu33]

In my opinion there are many differences, between Bitcoin and banks having many rules and balances that we have that they can know, but Bitcoin has a lot of sophistication and assets that we don't know about. But Bitcoin has no such insurance. If our wallet is lost with funds in it.