Is Bitcoin safer than banking?

[GabrielBrandon]

Bitcoin and bank both are safe but I personally think bitcoin is safer than bank because we can not control banking system but here we can make the security harder.

[denzkilim]

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 think bitcoin and banks are different. Now that banks are safer than bitcoin, banks have a smaller risk of losing than we store assets in bitcoin.
But it's back to you.

Correct, This two kinds of method of storing money have both upsides and downsides and these two also has their risks. If banks get bankrupt the person that stores a huge amount of money in this method will surely lose his/her money and only get a small amount of collateral and that's pretty much frustrating.
Literally, we cannot store money on crypto currencies because of its volatile nature (except Tether) and its correct term is investing/investment. Crypto currency investment is for "HIGH" risk takers and banking is for "LOW" risk takers and this two are so different and I don't know why a lot of people are comparing this two as the same lol.

[Naughty Princess]

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 think bitcoin and banks are different. Now that banks are safer than bitcoin, banks have a smaller risk of losing than we store assets in bitcoin.
But it's back to you.

I think so. Though keeping in bitcoin gives high profit than banks, it has small risk when you used bank to keep your assets. It is depend on you where you are going to keep your assets  because bitcoin is very volatile. You van make sure the security of the banks but the security of your online accounts rely on your hands for you to keep safe the asset you have in bitcoin.

[HerbertMarcel]

No bitcoin is not safer than banking because the whole banking system runs through hard security on the other hand bitcoin run through virtual security.

[Getcoinsite]

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?

Both banks and crypto has own risk

Banks is safer because this has physical money so even if theres lot of fraud happening and has low payback on interest still physically safer

Since cryptocurrency or bitcoin is giving opportunity to bring big amount of profit,the income is unbelievable but same as the risk of losing,and the virtuality whos making many people hesitant of investing because of none physical promises but instead purely internet connected money,

[Vritesh]

Yes according to me bitcoin is safer than banking because there are no sort of frauds in case of bitcoin. No doubt banking is in practice since very long but still there are many frauds and dishonesty torts in this field. Bitcoin is more safe as person is his own head but this is not so in the case of banking. It comes under the reguation of government or any third person which causes more issues.

[billionaireSHS]

For my own opinion, I think that both of them are safe. The matter is, it is how you choose wether you deposit or invest your money in bitcoin or in bank. Loyalty is the key of what you want to use. Sometimes you are comfortable in either bitcoin or in bank, so it's your choice!.

[gurang]

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?

Hm!No because bank is safer than bitcoin because bank have a best security and then it not just easy to scam or ban it because bank have a many security.

[Bakugan]

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 think banks are more safe than bitcoin because banks are controlled by government which usually used everything just to secure money. But just like bitcoin we can experience loss in banks too. Banks and bitcoin has own risk and it depends on us if we want to take it.

[Trustor]

Not at all, keeping in mind all the frauds we experience, the sometimes difficult to understand rules of crypto market and the fluctuations in the price value of a Bitcoin, It is definitely riskier than any amount of  investment or money in the Bank. Though Bitcoin is more convenient to hold or make any investment but banks are hands down the safest.   

[LDenis555]

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?

Maybe so, the Bank eventually became the basis of the economy in the country, and change the view that the Bank is not safer than bitcoin will be difficult, you need to increase the security of just the same bitcoin.

[qiman]

We are talking about two different eco systems here so it is hard to compare. I have had my wallet hackd with Bitcoin and have had funds stolen from other crypto wallets also but so far I ahve never had my bank account raided in all my life. So I would say banks, at least the bigger regular banks are safer. What I do like about Bitcoin is though that it is hard to take down, but a bank can go down if it is riddled with bad debt. So on a small scale the bank is safer, on a larger scale I think Bitcoin as an entity itself is safer than some of the corrupt banks selling dodgy derivative products from Wall ST to the general public and to institutions.

[bce]

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?

safer in what category is meant if security in the sense of counterfeiting my currency feels cryptocurrencies are much safer but for the problem of losing what we have security cryptocurrencies are very weak

[NightlessCity]

I think bank is more safe,  any kinds of fraud my appears stilll you can get back your money 100%, because is there name  legality. In other words the reputation of their name.  Although bitcoins gives an an opportunities  to earn as much as big profit but you have think twice, coz' there so many scam schemes using bitcoin name to take your money.

[Dylan Bargeman]

Bitcoin (and many other cryptos) are better than fiat (a.k.a. normal) currency because they cannot be created out of nothing. Well… at least not in the way fiat currency can by means of a (central) bank buying bonds, creating loans or applying quantitative easing. This almost limitless currency creation is a mayor cause of inflation which renders the money that is earned by hard work eventually worthless. Cryptos (at least the most famous ones like BTC, BTH, ETH etc.) don't have that problem.

[sneeze11]

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 think banking is more safe than bitcoin because it is legal here in our country. Actually bank is the most trusted here in my country because bitcoin treats illegal.

[sinta23]

No bitcoin is not safer than banking because the whole banking system runs through hard security on the other hand bitcoin run through virtual security.

yes indeed what you say is quite true. indeed bitcoin is currently not safe enough than banking. because we can see that the banking is certainly protected by the state. so we can't take it for granted.

[Shadon24]

Do you think that investing in the cryptocurency market will not be as safe as investing in a bank? I think if you invested in a cryptocurrency market you would be more profitable.

[Rustandy]

Transfers with bitcoin even between countries average administrative costs close to zero. Obviously more profitable than banking transactions, the administrative costs of which are still expensive.

[kalstarzz]

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 personal security of cryptocurrency depends on each user. different from banks, all of our assets are left to the bank, including security...