Which do you prefer, bank or crypto?

[max fray]

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

I still prefer banks for keeping my money there because crypto is very much unstable and I know I can lose everything one day due to that instability.
I lost my bank card a couple of times but this problem was easily solved in 10 minutes by making a visit to the nearest banking center and making a new card.

[Patrix_1]

It depends. Crypto is not so popular at the moment and is hard to use it on the daily basis. In my daily transactions, I prefer using a bank account. But as soon as crypto will provide the same solution and will be accepted everywhere, I will switch to crypto.

[keykey1]

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

I prefer bitcoin than a Bank. Banks offer a very low interest rate for a very long time. Bitcoin is not stable, but that's the beauty of it. In both cases, you can lose money from hacker attacks, but with bitcoin, the percentage of the Deposit is more profitable than in the Bank.

[BTalarmus]

If we compare the level of income from deposits in a bank and the increase in the price of reliable cryptocurrency over the year, it becomes obvious that cryptocurrency is a more profitable tool for investment, despite the market decline in 2018.

[jouns]

Cryptocurrencies themselves are a very risky asset, I think that if you want to save your money, there is nothing better than a dollar that lies in a bank.

[ejhayehm]

To choose bank it is the bad idea. Small percent and instability of banks it is very big risk. It is better to buy cryptocurrency.

If you choose the big banks, there will be no risk of instability. The bank is the safest place to hold your money, it's much safer than keeping at home.
I will choose crypto to get profit and when I have a big money, I will save my money in the banks to be safe

[marcar]

People at the bank holding money with security search pseudocysts thinker. They think the money in the bank is safe. I think it's different. I saw people who lost money because of bank fraud. The bank offers insurance within the limit. the market with crypto world risks. But the rate of earnings is high.

[ShowOffoN]

I can't totally trust banks and crypto wallets both, but among them I choose the second. Of course it needs absolutely security but I think it's possible. What about banks, in our political conditions it's more risky I think

Totaly agree with you. Both systems are risky and vulnerable, have lots of points to work through in order to become completely trustworthy and strongly secured. And of course it depends on what country the banking system belongs to, it is very important. And of course choosing the crypto wallet it also depends what type of it you choose. But my choice is the crypto wallet. Because the banking system of my country is more risky than the crypto wallet.
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Yes both are risky and it's a hard choice to make as far as safety is concerned as with the reasons given in my original post hence your point is right. Making a choice between the two will just depend on each country's systems so if you're saying that the banking system in your country is riskier, then I think you're making the right choice on cryto wallet.

[ShowOffoN]

People at the bank holding money with security search pseudocysts thinker. They think the money in the bank is safe. I think it's different. I saw people who lost money because of bank fraud. The bank offers insurance within the limit. the market with crypto world risks. But the rate of earnings is high.

Yes that's right, may people have already lost a lot of money because of bank fraud. I know because I used to work in a bank for over a decade albeit it's the same thing with cryptocurrencies. A lot of people have lost their money in scams, wrong investments and lost their key so really, it's a hard decision on what to choose as far as safety and security is concerned unless in the future, a super secure and untraceable blockchain will be invented, then I will use cryptos if that happens.

[Greenparkzhiv]

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

Risk is present everywhere, in the bank you will consistently receive your%. But with a cryptocurrency here can be in different ways.

[ShowOffoN]

To choose bank it is the bad idea. Small percent and instability of banks it is very big risk. It is better to buy cryptocurrency.

If you choose the big banks, there will be no risk of instability. The bank is the safest place to hold your money, it's much safer than keeping at home.
I will choose crypto to get profit and when I have a big money, I will save my money in the banks to be safe

I think that's a very good strategy. I'm actually doing the same thing now. Invest a little in crypto and safekeep it in the bank because at the present moment in time, bank is still safer however, time will come, I assume, that cryptocurrencies will become the new face of the financial system when it would not only be good for investments but also for safekeeping.

[inwas797]

I choose both Bank and crypto.The Bank today is the custodian of your funds and can be easily used to pay with a mobile phone.And crypto is a long-term investment in the future in the hope of making a profit.

[fortelen]

who will take responsibility when what you have in the crypto missing? certainly, there is no party which will be responsible for this. just save the bank still being the best at least has a definite guarantee about everything we have inside. Crypto is used for investment and big money and not save.

[ShowOffoN]

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

Risk is present everywhere, in the bank you will consistently receive your%. But with a cryptocurrency here can be in different ways.

That's right hence the question in my original post. Simply put, which one is the lesser evil? So I guess, most people who commented here still prefers the bank for safekeeping and cryptocurrency for investment but that is for the current time and age. I am hopeful that someday, cryptocurrencies will be technologically revolutionized that it will become the safest form of currency.

[krishnaverma]

This had been asked a number of times here and my answer is still the same, both crypto and banks can co-exist. There had been other forms of financial instruments like insurance that existed very well with banks and crypto can go the same route as well.

[ShowOffoN]

who will take responsibility when what you have in the crypto missing? certainly, there is no party which will be responsible for this. just save the bank still being the best at least has a definite guarantee about everything we have inside. Crypto is used for investment and big money and not save.

Absolutely right! Banks are for saving and cryptocurrencies for investments but perhaps decades from now, as technology evolves further, cryptos and blockchains will be given focus on its safety and security. Then that is financial democracy in my opinion.

[shooleh]

If you are to choose, which one would you prefer to store your money, banking which is susceptible to fraud like identity theft, lost and stolen cards, ATM withdrawal scams etc., or cryptocurrency wallet which is susceptible to cyberspace scams? Why?

Bank and Crypto have different functions. The Bank is the safest place to save money and have a very high-security assurance. While banks can give us an advantage, as we can borrow money under a guarantee. While the Crypto to save money has a very great risk and there is no guarantee that the money you lost can be regained.

[CreamIce]

There's no doubt, a majority would still choose banks. They are still most acceptable, safer and secured way to keep your funds and transactions. Maybe, in future, when crypto starts growing its roots and is accepted widely.

[tetyulfania]

Maybe you can joined and invest at crypto with your own money, never try for borrow and loan money for using at crypto on the bank, when bitcoin or altcoin drop you have faced big problem, some time bitcoin on lower price but some time oh higher.

[Striker17]

For me in choosing storing money i would choose bank rather than in crypto, but you must be sure of what bank would you want to store. But in case of choosing a profitable outcome, i must prefer to crypto than bank.