Is Bitcoin safer than banking?

[pixie85]

I think that depends on the user. With cryptocurrency, it is more difficult to handle than with a bank account and there are many risks of loss of access to your keys. You must be careful and attentive.

How careful do you have to be when you buy a hardware wallet? Those things are almost idiot proof and do everything for you. You can't hack a good hardware wallet and even if you lose it your coins aren't lost as long as you have a way to recover them like a seed written on a piece of paper. This saying that you need to be careful and worry about hacks all the time is a myth.

[Yantoaja]

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 you ask about who is more safety in terms of transaction I prefer banks that are safer in terms of transactions and security to avoid fraud or hacking, but if safe in "anonymous" terms I prefer BTC due to its completely anonymous nature

[yoseph]

The Bank really cannot be called a 100% reliable system. But bitcoin also has its risks. But still, I prefer investing in bitcoin, as it brings much more profit. And certainly attracts its decentralization, which significantly distinguishes it from the Bank.

In country currently, Banks are closing like crazy meaning that those people who decide to save their money at such banks are all losing their money. I bet that if crypto they wouldn't have lost all their irrespective of when they invested in the cryptocurrency.

[gokudera]

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 is not safe than banking because bank is the one who trust by many people in the first place and this is the most trusted to keep safe everyones money.

[Noloveatthistime]

At the moment I think Bitcoin can be much safer than banks. Since your transactions will not be disclosed to the outside, you will not be able to disclose your personal information. Although when depositing money into banks, you will receive a profit over the next few months, but that is not much compared to investing in Bitcoin. If they have a boom in the market, then you will get $ 500 to $ 1000 in very short time.

[Ahimoth]

hi guys. in my country they can hack money in the ATM. a lot of people lost money in their account. so i think i will put my money in bitcoin. i don't believe the banks now

I think putting your money in a bank is your money is not growing but if ypu put your money into a Bitcoin then possible your money become doubled. But for me I prefer both because when i have money in the bank, I can easily get it and its convenience to used especially when I have to buy then pay it. While Bitcoin instead of using it when do transaction I feel regret after because I think its better to hold it for long term it because its value is possible to increase even more.

[Mideafan]

blockchain has created a number of successful transactions digitized on electronic money and payment; finance and stock markets such as stocks, checks, debit or asset management; education, health, art. Electronic money or pre-coding is the mode of exchange using encryption to ensure transaction security and control of newly created money units. This money is exchanged directly with an Internet connection device without the need of an intermediary financial institution, which minimizes transaction costs. Since it is not under the control of a government organization, the crypto market avoids the inflation that traditional banks face. Users use electronic money everywhere in the world, even in money. face when necessary. Bitcoin, Ethereum, Steam ... This is also a good source of financial investment.

[WUUEX79]

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?

Even though bitcoin's not regulated, by banks or the government, however in fact this crypto currency cannot be counterfeited like fiat currency, which we use in our daily life, it means it's safe to use (even though hackers may steal coins which we have).

[ibrar.noman]

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?

yes, because there are no spending limits ,Quick International Settlement, 24/7 Access,Your Account Cannot be Levied, Lower Fees

[Granxis]

At the moment I think Bitcoin can be much safer than banks. Since your transactions will not be disclosed to the outside, you will not be able to disclose your personal information. Although when depositing money into banks, you will receive a profit over the next few months, but that is not much compared to investing in Bitcoin. If they have a boom in the market, then you will get $ 500 to $ 1000 in very short time.

Bitcoin is more secure than banks, it is anonymity, we are allowed to pass a certain amount of money from a country to a country today, such a limit is eliminated with Bitcoin. You can see your bank accounts states and they can tell you to pay taxes, thank you Bitcoin

[PanGiMoon]

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?

Perhaps I can not say so yet, because banking is already quite developed and probably still safer, because they use a lot of time and I think it will be a lot of years.

[fipper]

It's depend upon you if you have Trust to BTC and other crypto currencies. 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.

one of the shortcomings of investment with cryptocurrencies is that the security issue in our assets is no institution that can guarantee its security because we ourselves are in control of its security

[binhvo1505]

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 Bitcoin is not safer than bank but holding it will bring big profits for investors. that is the price to pay. If you send money to the bank, you will have interest but it is not too high for you to have a fuller life. It depends on the choice of each person.

[Suguha]

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 much better than bitcoin because here you don't need to have papers and contract just to invest here in bitcoin their are helping us to earn money and to save money for the future, whatever you do to your money it will not cause to debt because the money you earned will continue to grow unlike in banks while you were having fun the money you have will be lessen that will cause to debt.

[AliMan]

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 much better than bitcoin because here you don't need to have papers and contract just to invest here in bitcoin their are helping us to earn money and to save money for the future, whatever you do to your money it will not cause to debt because the money you earned will continue to grow unlike in banks while you were having fun the money you have will be lessen that will cause to debt.

Both of the are safe but for me Bitcoin is to hold and invest while banking is good to store your money. Bitcoin have unstable value so that its good to hold it to grow also its safe when you invest to it but the problem is the unpredictable market. Not all the time Bitcoin have higher value because sometimes its goes down. While banking is safe also especially if that bank is well-known.

[endut15]

In the course of transactions, this is much better than in banks. The advantage is that for the operation it is unnecessary to pay a commission in vat.

as you said, indeed bitcoin is quite good, but yes it is not necessarily a bank that is bad too. because banking until now we still need for transactions so far. so whatever the advantages of bitcoin we never underestimate the bank too.

[Viper_Unleashed]

Both money and bitcoins are necessary for us.Bitcoins is not accepted everywhere and fiat currency is still the mode of payment for maximum things.
So debating on which one safer is really not valid at all.Both are two very different of its kind.Crypto had,is and will give profits far more than any banking system so here lies the point are you willing to take a little risk ?
Bitcoin is always safer above any banking because it has the plus point of anonymity.Keeping crypto in exchange in the case and at that point crypto becomes vulnerable because any exchange can get hacked and people will loose their investment.But if you keep your hard earned money in your hard wallet then that is most safest way to retain funds.

[Rana590]

I think it will depend on how you control bitcoin. Obviously bitcoin has advantage that gives you user experience. You can do all things with your sweet well. On the other hand bank is the more secure than bitcoin if you are not sincere about it.

[walemil]

Both banking and bitcoin have their own advantages and disadvantages. You can decide to choose either or both of them depending on what your interest is. Decentralization and high profit can attract you to bitcoin but your investment can be at risk. Banking offers low interest but the risk is not much.

[RodeoX]

If you know how to use bitcoin, then there is absolutely no question that bitcoin is safer.  In fact, bitcoin is the safest method of transferring wealth available. Besides cryptographic protection, etc. It is a system that does not require sharing anything with a third party, which is inherently more secure. I have replaced my debit card three times in a year due to data breaches. But never in over eight years have I lost a single Satoshi.