Investing on Cryptocurrency is safer than saving or investing with local banks

[ringgo96]

investing on cryptocurrency and saving money in local banks both have advantages and disadvantages,
but saving in a reputed bank your money is safer than investing in cryptocurrency,
a reputed bank of course will refund your money in any hack incident,
if a bank goes bankrupt and there is no possibility of getting your money back, that is a different matter.

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

[slapper]

We continue to trust these banks, and they continue to screw us. The whole damn system's rigged. Bitcoin? Thats the antidote. Blockchain puts you in charge but is not really safe. Your money, your rules. What one does not get scares others. They affine to banks like a security blanket. Its more about habit than about reasoning. Bitcoin represents reclaiming your financial freedom, not only about making money

Security is something we all seek. Everybody wants to increase their fortune. Still, we also find great horror in the unknown. We thus continue to live with the same old garbage that fails us repeatedly. Bitcoin turns the script upside down. Its originality and openness are clear. It corresponds with our most basic wishes. People who lack understanding of Bitcoin are afraid of it. The media drives up the dangers and volatility. Indeed, the travel is not flawless. Still, the possibility exists

[BITCOIN4X]

~Snip

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

Banks are centralized services that will bind you with various terms and conditions when you invest in them. They will use your money to give credit to other customers, while the profits you will get are not commensurate with the amount of your investment. Imagine how inflation has made fiat value continue to disappear all the time, this is clearly detrimental for those of you who hope for growth in value from investments.

If you have a choice, then choose gold and property over banks. Investing in bitcoin is certainly one of the best, but remember that you also need to diversify so you can minimize the risk of anything unexpected.

[uneng]

Bitcoin has the advantage of being decentralized, so you can store your coins inside a wallet only you are going to have access, therefore the government or the bank are never going to be able to seize (steal) your money.

On the other hand, crypto investments aren't safer than investing with local banks if we take into consideration it's a heavily volatile investment, which fluctuates a lot in price, especially on short term. It's a high risk investment not everyone is able to do, because they might get stressed and anxious due to the dumps in crypto market which happen without warnings and without any reasons.

I would avoid banks, but at same time, I wouldn't put all my expectations on cryptocurrencies, anyway. It's important to always have a Plan B in emergency case, so splitting investments into different categories is a good alternative.

[Nanga Parbat]

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

Nowadays, the service charges of banks have increased tremendously, due to which people are using banks only to transfer money.  Earlier people resorted to banks to store their savings and earn profit on it, but now the situation has changed.  Most people look for investment opportunities that are more profitable.  As a result people are investing in land and property, which provides long term benefits.  On the other hand, individuals who are financially literate and understand market volatility are preferring to invest in cryptocurrency.  Crypto currency though fraught with risk also has the potential to generate high returns in a short period of time.

[Odusko]

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

Nowadays, the service charges of banks have increased tremendously, due to which people are using banks only to transfer money.  Earlier people resorted to banks to store their savings and earn profit on it, but now the situation has changed.  Most people look for investment opportunities that are more profitable.  As a result people are investing in land and property, which provides long term benefits.  On the other hand, individuals who are financially literate and understand market volatility are preferring to invest in cryptocurrency.  Crypto currency though fraught with risk also has the potential to generate high returns in a short period of time.

In my country here, banks are working tirelessly to eliminate the service chargez on either transactions and other electronics services, but still there is limitations if you compared bank and assets like Bitcoin since Bitcoin intrinsic value make it investment to be so much better than saving your money in the Bank, and with Bitcoin you stand to gian from the market volitilities and at the same time avoid taxes, but in you banks savings, I think each month a percentage is deducted and sent to the fed account for taxations and if you ask what the taxes are for, they will simply say it a value added tax and only the government can tell the role in the society that their use such tax to sort out.

[o48o]

Many people in my country still don't believe in Cryptocurrency and would rather save or invest with local banks but the recent sad event would serve as an eye opener to them. One of the top leading banks in my country (GTB) got there server invaded by hackers, some period before it happened they where advising customers to buy their shares and many customers did, I feel so sorry for those who bought shares with them cause their money is probably gone.

 Whereas investors could only lose totally on Cryptocurrency when they fail to invest on Bitcoin or other good Cryptocurrencies and instead invest on shit coins, or they save their assets on a custodial wallet instead of a non-custodial one, else Cryptocurrency especially Bitcoin is one of the best and safest investment any investor could think of.

 I wonder why anyone would even think of buying shares with a local bank or saving huge part of their money with them, when they could save for a long-term with Bitcoin and make huge returns later, Bitcoin blockchain makes it very secured and the only ways an investor is at risk is saving their asset with a wallet that could easily be penetrated by hackers or fail to safeguard their private keys.

If you live in some corrupted unstable and volatile region, i totally get your point, but i wouldn't say it's not safer with regulateed and trusted first world banks. At least if you yourself aren't a criminal or some aml blacklisted fugitive. Then going all in to crypto and physical gold are probably safest choice as everything else can be taken away easily, especially money from your bank.

[Rabata]

I wonder why anyone would even think of buying shares with a local bank or saving huge part of their money with them, when they could save for a long-term with Bitcoin and make huge returns later, Bitcoin blockchain makes it very secured and the only ways an investor is at risk is saving their asset with a wallet that could easily be penetrated by hackers or fail to safeguard their private keys.

Banks also have different categories. If you deposit money in a top level bank, there is less risk, especially from security risks, but if you deposit money in a middle class or lower level bank, there is a higher chance of losing money. So keeping your money in Bitcoin is safer than worrying about keeping it with someone else. Especially if a good wallet is selected and the security keys are well stored and Bitcoin can be held for a long time, it can give a much higher return than any bank. The opportunity to keep your own money and build great wealth there in the long term is no less than a bank. Moreover, those who can predict the future will definitely choose Bitcoin.

[mirakal]

investing on cryptocurrency and saving money in local banks both have advantages and disadvantages,
but saving in a reputed bank your money is safer than investing in cryptocurrency,
a reputed bank of course will refund your money in any hack incident,
if a bank goes bankrupt and there is no possibility of getting your money back, that is a different matter.

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

Saving in banks will only be a lot risky if you are putting majority of your funds in there and give them the full control to keep and manage your funds. Hence, you are like giving away your funds in case you don’t know, their keys, then it’s like their money already. Unlike if you chose to invest in bitcoin, you are the only one aware of it so you can guard it 24/7 without other entity to look at it. Your money, your keys, and its security is within your responsibility now.

[fillippone]

The other day, a Swiss Bank Flwobank went Bankrupt, hindering the operation of stable coin issuers whose reserves were stored in that very Bank.
From time to time, the two things seem more interwoven than ever, even more, when regulators put some stupid rules in place.

[Darker45]

In fairness, investing in financial products offered by banks have its advantages also. There are bank investment products which offer you a fix return within a specified period of time. So, compared to the uncertainty of Bitcoin, these products assure you that you will get this amount of profit for this amount of investment within half a year or one full year. There are also other benefits like insurance and whatnot.

If it's the long term that you're thinking though, Bitcoin is probably the better option. But again, there is no guarantee. The standard investment rule about higher risk higher profit may apply here.

[sunsilk]

With all of the conspiracies there will be a collapse coming from the largest banks and financial institutions. We all know it that it's never been good to park your money in the banks.

If you're for the longevity of your bank, better invest it in Bitcoin than in the banks. I'm not going to discourage someone who thinks that stocks is a good one because there are dividend stocks that can give you passive income.

However, the performance of those are still dependent on how is the economy of the industry that these companies are in.

[Iranus]

~Snip

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

Banks are centralized services that will bind you with various terms and conditions when you invest in them. They will use your money to give credit to other customers, while the profits you will get are not commensurate with the amount of your investment. Imagine how inflation has made fiat value continue to disappear all the time, this is clearly detrimental for those of you who hope for growth in value from investments.

In terms of investment, banking is not the right thing for us to choose, but its role in life is undeniable. Do you or OP or anyone here not have a bank account? I guess we are all using it and fiat every day. If there were no banks and fiat, how would we buy bitcoin?
The more important role of banks is that if you are a business, you will need banks more than you think. If you need money, where will you borrow money to support your business? Can Bitcoin do that?

If you have a choice, then choose gold and property over banks. Investing in bitcoin is certainly one of the best, but remember that you also need to diversify so you can minimize the risk of anything unexpected.

In terms of investment, yes, bitcoin is the best choice for us. Why? Because its volatility can help us make high profits or can even make us rich. For people with small capital like us, choosing gold or banks is not a smart choice, bitcoin will be more suitable for us.

[dezoel]

With all of the conspiracies there will be a collapse coming from the largest banks and financial institutions. We all know it that it's never been good to park your money in the banks.

If you're for the longevity of your bank, better invest it in Bitcoin than in the banks. I'm not going to discourage someone who thinks that stocks is a good one because there are dividend stocks that can give you passive income.

However, the performance of those are still dependent on how is the economy of the industry that these companies are in.

Even peoples are understood all risks and conspiracies about these things but still this debate is not going to end because we are living in the world where no one is living complete live and can't go ahead with just own way of life we have to depend on things which we never like, but we have to manage this because we are living here same option is about this.

Even I am feeling comfortable with the investment in Bitcoin but still I am doing things which are benefiting the banks and related stuff because I can't go without them in my life even I am also having many loses through these but still we need them, and we have to manage them I am feeling comfortable with bitcoin and cryptocurrency but still it's not working for all needs of life too many lies around us because they are also looking for profit and this is only possible with things like these at the end of this I have strong belief in this bitcoin instead of this old system which is near the collapse.

[Huppercase]

Whereas investors could only lose totally on Cryptocurrency when they fail to invest on Bitcoin or other good Cryptocurrencies and instead invest on shit coins, or they save their assets on a custodial wallet instead of a non-custodial one, else Cryptocurrency especially Bitcoin is one of the best and safest investment any investor could think of.

 I wonder why anyone would even think of buying shares with a local bank or saving huge part of their money with them, when they could save for a long-term with Bitcoin and make huge returns later, Bitcoin blockchain makes it very secured and the only ways an investor is at risk is saving their asset with a wallet that could easily be penetrated by hackers or fail to safeguard their private keys.

I want you know that Banks are not perfect and Bitcoin and other cryptocurrency are not perfect too. There is limit to what all of them can give you. There are people that have invested into some bank shares and they are happy they did because they bought since when some of these banks have little to no liquidity and now they have became one of the big brands all over the countries and also some continents.

Beside, msot banks existed 50 years or even 100 years before the idea of Bitcoin and cryptocurrency emerge, they were there before crypto came on board and it was because of this limitation Satoshi see that the traditional finance is collapsing and brings Bitcoin into existence and ever since the creation, the banks have been relentless and don't want their system to fail so Bitcoin wouldn't be seen as the messiah that people will embrace.

[Princess Leah]

Whereas investors could only lose totally on Cryptocurrency when they fail to invest on Bitcoin or other good Cryptocurrencies and instead invest on shit coins, or they save their assets on a custodial wallet instead of a non-custodial one, else Cryptocurrency especially Bitcoin is one of the best and safest investment any investor could think of.

 I wonder why anyone would even think of buying shares with a local bank or saving huge part of their money with them, when they could save for a long-term with Bitcoin and make huge returns later, Bitcoin blockchain makes it very secured and the only ways an investor is at risk is saving their asset with a wallet that could easily be penetrated by hackers or fail to safeguard their private keys.

I want you know that Banks are not perfect and Bitcoin and other cryptocurrency are not perfect too. There is limit to what all of them can give you. There are people that have invested into some bank shares and they are happy they did because they bought since when some of these banks have little to no liquidity and now they have became one of the big brands all over the countries and also some continents.

Beside, msot banks existed 50 years or even 100 years before the idea of Bitcoin and cryptocurrency emerge, they were there before crypto came on board and it was because of this limitation Satoshi see that the traditional finance is collapsing and brings Bitcoin into existence and ever since the creation, the banks have been relentless and don't want their system to fail so Bitcoin wouldn't be seen as the messiah that people will embrace.

The main point of discussion is not concerning perfection, infact there's no perfect investment cause they all got their risk factors, I'm just trying to let you know that Bitcoin investment is more safe except when investors expose their assets to hackers or scammers by exposing their private keys or using a custodial wallet which can easily be penetrated by hackers.

 Also there were times when people where okay with the barter system before banks came into the system and birthed Fiat, based on your statement, what I'm trying to say is that change is constant and Satoshi created Bitcoin as an alternative to the banking system which has now developed into one of the best and safest digital asset for investment.

 Gradually the world is seeing the potential of Bitcoin and sooner or later everyone would have no choice but to embrace it, hope you're aware that Dubai Court just accept Bitcoin as a mode of payment to workers, that's a welcome development and sooner or later most countries that's placed a ban on Bitcoin would have to uplift it.

[Tigerheart3026]

~Snip

Both have their own advantages and disadvantages, and those of us who have known the crypto world for a long time will certainly choose to invest in crypto when compared to banks, but banks work more realistically and have buildings in every area so we are safer to save money, but if we want to get profit then we will choose crypto of course.

Banks are centralized services that will bind you with various terms and conditions when you invest in them. They will use your money to give credit to other customers, while the profits you will get are not commensurate with the amount of your investment. Imagine how inflation has made fiat value continue to disappear all the time, this is clearly detrimental for those of you who hope for growth in value from investments.

If you have a choice, then choose gold and property over banks. Investing in bitcoin is certainly one of the best, but remember that you also need to diversify so you can minimize the risk of anything unexpected.

i don't invest money in bank for long time, because profit is fixed and very lowest, then inflation is the big problem if money is invested in bank,
my money will be devalued gradually because of high inflation so i think fixed deposit in bank, it's a loss project,
i will choose to buy land and gold.

[Jegileman]

Many people in my country still don't believe in Cryptocurrency and would rather save or invest with local banks but the recent sad event would serve as an eye opener to them. One of the top leading banks in my country (GTB) got there server invaded by hackers, some period before it happened they where advising customers to buy their shares and many customers did, I feel so sorry for those who bought shares with them cause their money is probably gone.

In the local news said something about an hack into their website and had access to some customers details but didn’t see any news of users losing their funds or getting their investment in shares lost forever. GTBank is a large bank in Nigeria and one of the most best performing banks in Nigeria, they could take care of losses like this because I don’t think it was a big hack that made them lose money unless they say otherwise. All users money are still saved and no one complained about anything with their server or having issues accessing their money.

Whereas investors could only lose totally on Cryptocurrency when they fail to invest on Bitcoin or other good Cryptocurrencies and instead invest on shit coins, or they save their assets on a custodial wallet instead of a non-custodian one, else Cryptocurrency especially Bitcoin is one of the best and safest investment any investor could think of.

In a country where the government don’t want to embrace bitcoin and cryptocurrencies or even want to think about it but rather placing penalty on banks users found transacting in bitcoin, you have no choice on them to save with thier local banks and be safe from government punishment. Just like banks, cryptocurrency also has its own disadvantages but with care and caution, it’s better you have full custody of your money than leaving it with a third party vulnerable to hack and attacks.

I wonder why anyone would even think of buying shares with a local bank or saving huge part of their money with them, when they could save for a long-term with Bitcoin and make huge returns later, Bitcoin blockchain makes it very secured and the only ways an investor is at risk is saving their asset with a wallet that could easily be penetrated by hackers or fail to safeguard their private keys.

This is what the people have trusted for a long time and without proper dissemination of information to them about the relevancy of bitcoin to be used as a means of savings and investment, they’ll keep seeing it as something that’s harmful to their money and the government threats will also not allow that to happen easily even if they show interest to start saving in bitcoin.

[Natalim]

Pro-bitcoin investors will definitely stick to this concept, but for those anti-bitcoin, trusting and saving in a bank will be their topmost priority. And we can’t blame them also for that since bitcoin is still new to majority that’s why a lot still doubt whether bitcoin can be a reliable one or not. Whereas banks have already existed long time ago and people have get used to it since from the beginning.

However, changes are inevitable. And people who were against bitcoin before are now siding bitcoin today, Trump is a perfect example. Investing in bitcoin or any other cryptocurrency is the trend these days, while physical banks have slowly become stagnant since digital transactions are more convenient these days.

[Farma]

I wonder why anyone would even think of buying shares with a local bank or saving huge part of their money with them, when they could save for a long-term with Bitcoin and make huge returns later, Bitcoin blockchain makes it very secured and the only ways an investor is at risk is saving their asset with a wallet that could easily be penetrated by hackers or fail to safeguard their private keys.

Banks also have different categories. If you deposit money in a top level bank, there is less risk, especially from security risks, but if you deposit money in a middle class or lower level bank, there is a higher chance of losing money. So keeping your money in Bitcoin is safer than worrying about keeping it with someone else. Especially if a good wallet is selected and the security keys are well stored and Bitcoin can be held for a long time, it can give a much higher return than any bank. The opportunity to keep your own money and build great wealth there in the long term is no less than a bank. Moreover, those who can predict the future will definitely choose Bitcoin.

You are right, each bank certainly has a different system as you said and also there is very little profit that we will get from saving money in a bank but we can save some savings for emergency needs that we need in the bank and save in Bitcoin as an investment in the long term and also we will be able to make a profit from it but we must be able to take good care of the wallet key that we have.

Choosing to save your own money by investing in Bitcoin will be very good and we must be able to do it consistently in order to make a profit when it is bullish and it is very impossible to get it by saving money in the bank, it will be very detrimental when inflation occurs, the value of the money we save will decrease in value even though the money we save does not decrease.