Is Bitcoin safer than banking?

[FreedomFighter2]

No. Bitcoin not safer then banking. But now a day bitcoin safe currency. It's the matter of self decisions if you rely to other you will not know it's safe or not. Maybe not just rely to the bad news that you read , just believe on your self and to the power of digital currencies.

[lombok]

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 it's a conventional bank that is easily stolen by its identity, I think bitcoin will be difficult to steal because there are many safeguards in it, so far blockchain technology is much safer not as easy as this conventional bank in my opinion, what do you think about your friends?

[jenny2323]

My answer is yes because Bitcoin is a digital currency that is based on blockchain which is regulated by the government making it difficult for one particular individual to run away with individual funds of investors deposited and secured in their personal accounts but some banks are owned by individuals who might wake up someday and decide to close down and disappear with individual funds deposited in His account for safe keeping

[Btc Specialist]

It's depends on upto you.If you believe bitcoin then you should think bitcoin safe,but here is possible to hack your account by the hackers,but bank account has not any chance to hack,so i think it depends on trust.

[Kwansimaa]

No banks are safer in terms of investment platforms than bitcoin investment but if you also want the investment platform that offers huge profits then i suggest you invest into bitcoin investment.

[arifin eky]

not really, if for the bitcoin security sector it is inversely proportional to your opinion, bitcoin is also often used as a crime and risky tool rather than a bank. even though it is equipped with a security code.

that's just my opinion if you ask about security, but if in terms of profit, bitcoin is far more profitable than banks.

[Qurelal]

I think cryptocurrency is safer. Risks exist anyway. There is a possibility to lose the Cryptocurrency using an unreliable wallet or exchange.

[Chicksteen]

No. Bitcoin not safer then banking. But now a day bitcoin safe currency. It's the matter of self decisions if you rely to other you will not know it's safe or not. Maybe not just rely to the bad news that you read , just believe on your self and to the power of digital currencies.

Bitcoin is a safe currency because it is really legit but is more risky to put your assets with it than in banks. I am believe that many are going to choose banks where to keep them and only keep in bitcoin what is afford to lose, but that does not mean that when you put in bitcoin you gonna lose, it is depend how you handle it. Bitcoin can give good profit than banks when the price goes up for good result.

[OnceTwiceThird]

Maybe when bitcoin have lower price is better for saving your money at bitcoin than you have save at the bank, but some time when bitcoin at higher price is too risk for saving money in bitcoin. maybe next day bitcoin will have drop price.

[smartbitcoininvestor]

Bitcoin is safer than the banks in a lot of ways and you can also carry around your own personal bank i.e Coinbase app.

While we may not see friendly faces personally behind a teller desk for cryptocurrency for a while, it is still convenient in the sense that one can perform personal accounting within the wallet that they use whether it is a hardware wallet, iOS or Andoid wallet, web wallet or cold wallet, it is extremely simple to calculate how many BTC's you have on hand.

The blockchain will make banking simpler and safer for all citizens around the world. People can decide which cryptocurrencies they want to carry, which are supported by different organizations, groups and companies. Overall, I would keep cryptocurrency around as a form of banking, and also as a backup savings account/investment vehicle.

[bitrayder]

Yes for me Bitcoin is safer than banking, Why? It is because in bitcoin you can have savings in the future without giving any important documents you have like passport, drivers license or any valid id's. Then, when the price value of bitcoin get higher in the future then you buy now for sure it can become more than 1000% of profit you could get which I know bank none of the banks can't do it.

[markjohn11]

Bitcoin is safer than Banking, 1 there no spending limit,Bitcoin doesn’t have any spending limits which means you can send as much money as you need. Doesn’t this make better sense than being told how much of your hard earned money you’re allowed to spend? (2)Quick International Settlement'

With Bitcoin, transactions are received instantly and it usually only takes an hour for proper confirmation. The current banking system is outdated and even if they could settle instantly they’d likely still hold on to your money to turn a profit on investments.

[Indai24]

Bitcoin is safer than Banking, 1 there no spending limit,Bitcoin doesn’t have any spending limits which means you can send as much money as you need. Doesn’t this make better sense than being told how much of your hard earned money you’re allowed to spend? (2)Quick International Settlement'

With Bitcoin, transactions are received instantly and it usually only takes an hour for proper confirmation. The current banking system is outdated and even if they could settle instantly they’d likely still hold on to your money to turn a profit on investments.

For me there's nothing safer than banking, I still prefer banking because any transaction goes under verification or clearing process, this is to avoid fraud and any other unusual activities, on thr other hand, bitcoin is also safe but possibilities are, fraud may occur.

[CongHoan]

in my country there are so many times that hackers hacked to bank system , but they couldn't steal money but when hackers have your private key nothing could help you .

[dongyi17]

safer than bank that's what really they say.. but to some who are doubtful and hesitant to invest in bitcoin they rather want to stay in the old way which is banking but then there are also some disadvantage on it... either the two its up to us who will decide unless we really secure everything we can't really trust..as some say..

[Abram434]

Yes bitcoin is safer than banking.When you keep your money stored with a third party you are at their mercy. There are several examples of people unjustly having their banks levied. Recently, governments around the world are being forced to implement bail-in policies. Bail-ins prop up failing banks by going after bond holders and uninsured deposits.With Bitcoin, as long as you keep your private keys secure from hackers then nobody can touch your money. All coins are locked on the public ledger and private keys determine ownership. There are now private keys based on 24 randomly generated words that you could memorize and store without a trace.

[jahangier1789]

Yes, Bitcoin is 100% safer then any bank due to decentralized nature of bitcoin. Banks can be hacked but hacking bitcoin is 100% impossible.

[jeepuerit]

In my opinion, there is no safety hiding of bitcoins in trading markets, as many markets become scam, I have lost my ethereum from qryptos because of the lost qryptos market, it is better to hide in the bank.

[charles28]

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?

Why every now a day everyone is comparing bitcoin and bank.

[AdamRay]

Bitcoin is not much safer than a bank, but it will be 10 times more profitable than a bank if you invest in the right time. It is the price to pay and it distinguishes between the two who are reckless and secure. It depends on your choice.