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

[jasonjm]

People invest and save in banks because they think it is safer. Cryptocurrency is a risky investment and you might lose your money if you misplace your private key or recovery phrase or if your wallet/ account gets hacked. The majority of the people are not risk-takers and go with the conventional methods when it comes to investment. Also, people are often reluctant to invest in a new project.
Some large banks are performing well in the stock market and give healthy dividends. They have established themselves over the years and gained the trust of investors. It is not advisable to invest in one asset. Diversify your portfolio with BTC, gold, stocks, and mobile assets (property etc.).

[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.

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.

We know that for sure because even if we want to dispose of banks 100%, there are still some services and uses that we can enjoy from them.

But if it's about larger funds, you can think of it on how much you're going to park there and whether you invest to any of their investment products or just want to deposit to see how much you've got, we all have options to make and we're in a better situation now than before.

Because before we have no option, there's no Bitcoin that we can rely on for our funds, assets, investments and etc that serves all of those purpose all at once.

[Rockstarguy]

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 can be of good investment for those who don't have the knowledge of bitcoin investment and those who are not even interested in investing bitcoin. I don't think it will be of good sense for someone to invest in what they know nothing about because it is very possible if this person had invested in Bitcoin and do not understand the market of bitcoin very well, I don't think investing in Bitcoin will be of any value to people who don't understand it because volatility can be a reason for fear for to sell at lose. It is better let the bitcoin investment before those who understands it and won't be in panic even if the market falls because they understand the movement of volatility,  with this understanding there will be value in the investment of bitcoin.

[Kelward]

In my country our fiat currency has so much devalued because of the inflation that we're experiencing so in economies like ours it's not safe to keep your money in our banks. The amount will remain the same in your bank account but the value will keep depreciating because it's purchasing power is getting lower. It makes sense for people we are in countries that are hit by inflation to convert their money for long term investment into Bitcoin and money for short term uses into stablecoins.

As for buying shares, it's no longer a top priority for me as a person that has the knowledge of cryptocurrency, I'll rather hodl Bitcoin on the long term and wait for my ROI to keep increasing. Bitcoin is a store of value and a better option for me to invest instead of leaving my money in the bank or investing it in many shitprojects that are everywhere .

[justdimin]

In my country our fiat currency has so much devalued because of the inflation that we're experiencing so in economies like ours it's not safe to keep your money in our banks. The amount will remain the same in your bank account but the value will keep depreciating because it's purchasing power is getting lower. It makes sense for people we are in countries that are hit by inflation to convert their money for long term investment into Bitcoin and money for short term uses into stablecoins.

As for buying shares, it's no longer a top priority for me as a person that has the knowledge of cryptocurrency, I'll rather hodl Bitcoin on the long term and wait for my ROI to keep increasing. Bitcoin is a store of value and a better option for me to invest instead of leaving my money in the bank or investing it in many shitprojects that are everywhere .

That is true for almost every nation and that is why we are trying to put our money into crypto, keeping your money in fiat makes no money at all and doesn't give any good return. We need to figure out a way to make as much as possible without really bothering us at all, it is going to see this changing eventually.

We are going to have some trouble of course, and we need to consider how to make changes to this, but as long as we do not have any issues, it should not be really that complicated. Think about it, there is a simple way to avoid this, you just put all your money into bitcoin and hold it for many many years, if you can do that then you are not going to get anything bad, you will get a good result and you will be happy about it. I know that it is going to take a lot of convincing for one person to go from pure fiat investments into pure bitcoin, but that is the way to avoid getting all of your money lost to inflation, hence bitcoin is the way out.

[Dzwaafu11]

Depending on how large the bank is, its not a bad investment strategy which pays healthy dividends, but you need to make sure you are investing in the correct bank. Right now I would not invest in small or mid cap type of banks. Way too risky, especially if there is a recession on the way. When the banks are liquidated, the share holders get nothing.

Did you think investment would be better than bitcoin investment? Because, in my opinion, poor or average people may not be able to invest in banks. For you to make money from bank investments, you need a million or thousands of dollars before you can be able to make a good profit from them. Unlike bitcoin investments, you can invest using the DCA method by putting in some amount of money weekly or monthly based on how you earn money. So in my opinion, I don’t think bank investment is the best option for investments; rather, someone should go for bitcoin investment and hodl for a long time.  

[robelneo]

 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.

They have probably not yet discovered Cryptocurrency or compared the profitability of both assets, and there are countries like ours that protect or insure deposits of a certain amount.

The banking industry will not or cannot die. There are sectors of industry where banking's presence is important to push their operations; banks and cryptocurrency can co-exist, and they don't have to shut one another.
Investors can diversify their portfolios; I don't see banking as a dying industry. The government can help sustain their existence. In fact, some banks are government-run and funded.

[EluguHcman]

That motive of settling a trusted emotions to have your funds invested on Bitcoin demands some exceptional structures in diversification of our source of income in different ways.

Being clearly noted, no sector of finances is 100% guaranteed to say that it has not been tempered by scammers in anyways.
The banks has been experienced with armed robbers and so also scammers has been troubleshooting in invading the banks security computerized peripheral as a  result of hacking the banks system.
This is not exemptional to Bitcoin being untempered asset technology but the security differences is that since Bitcoin is not a physical holding, it has made limitations towards its possible attacks through its software programs.

If we must talk about the risk of investing in the bank and investing on Bitcoin, I think the choice of Bitcoin would be more highily risky because when scammers attacks a bank which you invested on or you saves your funds on, it is ideal that it was the government owned funds that was stolen but when it affects to Bitcoin, it is believed that it is an individual owned funds that was stolen due to the decentralizations of Bitcoin and its blockchain to say every Bitcoin holders stands at their own risks because you are at self custodial to your funds and failure to keep your wallet s d security keys protected to the maximum order stands at your own risk.

So, understanding the risk factors of Investing under a centralized blockchain as the banks gives eases that investing on a decentralized blockchains as the Bitcoin because at such invasion, you can always hold the government responsible while you have no one to look up to when it is applicable to Bitcoin.

[JeffBrad12]

People invest and save in banks because they think it is safer. Cryptocurrency is a risky investment and you might lose your money if you misplace your private key or recovery phrase or if your wallet/ account gets hacked. The majority of the people are not risk-takers and go with the conventional methods when it comes to investment. Also, people are often reluctant to invest in a new project.
Some large banks are performing well in the stock market and give healthy dividends. They have established themselves over the years and gained the trust of investors. It is not advisable to invest in one asset. Diversify your portfolio with BTC, gold, stocks, and mobile assets (property etc.).

also because bank heavily regulated and have reimbursement if things went wrong (well at least some of them have) so they find safety in it even though their money just gonna get crushed by inflation at the end of the day.

we all know interest of 5% yearly isn't enough to combat inflation, some people have this mindset of depositing big chunk of money into bank and live off of it, little they know in just 10 years, their big chunk of money might not be a big chunk of money anymore, the interest which they got and that they used to live off was actually money to prevent inflation that they should've kept if they want to retain their capital worth.

[Akbarkoe]

Cryptocurrencies, Bitcoin in particular, do present a safer and potentially profitable alternative. However, one has to realize that many individuals are still skeptical of the new way of thinking and prefer traditional methods of investment, such as saving money in the bank or buying stocks because that is what they know and trust. It takes quite a good amount of knowledge to make a switch-over to cryptocurrencies plus understanding the associated risks since it might not be readily available for everyone.

Bitcoin and other cryptocurrencies have a lot of advantages in terms of security and potential returns but on the other hand not everyone can take up high risks. For some people investing in a bank or stocks is still safer, and secure-feeling notwithstanding the risk that comes alongside it. Every person’s investment choice has to be respected at the end of the day, but also continue disseminating information related to different investment opportunities so that people can make decisions that are more suitable for them in light of their needs and risk tolerance.

[moneystery]

actually investing in cryptocurrency is not safe either, just look at how many crypto scams there are until now? i can say that there are thousands of crypto projects that are scams and cause losses to their investors. so depending on the type of cryptocurrency, it can be riskier to invest in it or safer than banking.

[Princess Leah]

actually investing in cryptocurrency is not safe either, just look at how many crypto scams there are until now? i can say that there are thousands of crypto projects that are scams and cause losses to their investors. so depending on the type of cryptocurrency, it can be riskier to invest in it or safer than banking.

Yeah, It depends on the Cryptocurrency one choose to invest on, if you focus your investment plan on Bitcoin then it's much more safer than every other Cryptocurrencies, also you'll only be victims of Cryptocurrency scam when you pay attention to any sites or investment plan you come on the media, invest more on other Cryptocurrency asides Bitcoin, fail to buy Bitcoin from recognised exchanges and save in a non-custodial wallet.

 I don't know about you but I'll choose to invest on Bitcoin over any bank investment nor save huge part of my money in the bank, you're fully in control of your savings when you invest on Bitcoin and volatility shouldn't be an issue since you're investing for long-term, scam also shouldn't be an issue when you store it in a cold wallet like Electrum.

[Wakate]

actually investing in cryptocurrency is not safe either, just look at how many crypto scams there are until now? i can say that there are thousands of crypto projects that are scams and cause losses to their investors. so depending on the type of cryptocurrency, it can be riskier to invest in it or safer than banking.

Whatever way we choose to safe our money, we should always know that any of the ways could be risky even though using the funds to invest in cryptocurrency. I don't really know why many people think that crypto investment is less risky compared to others. Any financial investment is very risky and we should know what it entails before we think of putting our money in such an investment.

It is also good for us to invest while we are eating because once we bring fund for investment, we will be making money while saving rather than saving without making any investment which is a way for us to generate money for ourselves. Cryptocurrency investment need a quick attention and continuous monitoring to know when we have to sell to buy again when price is down since this is one of the fastest way to make money in this ranging market.

[irsykes]

People invest and save in banks because they think it is safer. Cryptocurrency is a risky investment and you might lose your money if you misplace your private key or recovery phrase or if your wallet/ account gets hacked. The majority of the people are not risk-takers and go with the conventional methods when it comes to investment. Also, people are often reluctant to invest in a new project.
Some large banks are performing well in the stock market and give healthy dividends. They have established themselves over the years and gained the trust of investors. It is not advisable to invest in one asset. Diversify your portfolio with BTC, gold, stocks, and mobile assets (property etc.).

risk will not be far from life but if we do not take risks there will be no change in ourselves. banks or crypto have their own advantages. so in my opinion take both because they have advantages that must be trusted and all of that needs to be processed. think of many uses, so if you find a gap for me it becomes a source

[kawetsriyanto]

People invest and save in banks because they think it is safer.

Are there people assume to keep money in the bank is a kind of investment?  
Save money in the banks isn't 100% safe. In my country, there are quite a lot of private banks that have closed because of bankruptcy or other reasons. As the result, the customers' money is trapped. Even, many of them still didn't get their money back after years.

Cryptocurrency is a risky investment and you might lose your money if you misplace your private key or recovery phrase or if your wallet/ account gets hacked.

It is actually the basic knowledge in crypto. If we learn it carefully, I'm very sure that we can deal with the risk. Managing private keys/phrase isn't something very difficult but it requires the caution.

The majority of the people are not risk-takers and go with the conventional methods when it comes to investment.

If people aren't brave to take the risks, they are better to stay away from investment. There is no investment with zero risk, no investment can guarantee profits 100%. Kindly focusing on saving if the people don't have a bravery to deal with the risks. These kind of people will easily blame crypto if they fail in crypto investment, they are better not to come in crypto investment.

Also, people are often reluctant to invest in a new project.

This is just a choice. It is not a must to join new projects. There are too many old projects with good reputation if someone doesn't want to invest in a new project. I think it is not a big deal!

[Bd officer]

Yes, I also think investing in cryptocurrencies is much better than saving or investing money in banks these days. Currently due to inflation the value of money has started decreasing day by day, if you keep money in the bank then the value of your money will continue to decrease day by day. For example, 1 year ago our country's $1 dollar was BDT 85, now $1 dollar is BDT 120+. If you withdraw money from the bank, you will be accountable in various places. Currently in our country you cannot withdraw more than BDT 300000. Keeping money in the bank means keeping it under someone else's control. But you are in control when you invest in Bitcoin. You can sell when you want, sell as much as you want. In terms of profit, if you keep money in bank you will get profit (10-12%) per year but you can expect double profit if you invest in Bitcoin.

Yes, cryptocurrencies are risky. But you need to choose trusted currency. Bitcoin is most popular and trusted, so you should invest in Bitcoin. If you invest in Bitcoin and hold it for a long time, you will definitely benefit. So, don't invest in currencies other than Bitcoin.

[NotATether]

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.

Buying the shares of a bank is different from saving and investing with the bank. I will totally recommend people buying the shares of a bank, defending how successful the bank is. It doesn't have to be one of the biggest banks in the world, as long as that bank makes a lot of profit at the end of its financial year, it might be a good idea to buy its shares if you want to diversify.

Yeah, it's basically like getting private equity. Who wouldn't want a part of that? Actually it has the potential to make gains even quicker than Bitcoin, so I can see why it would be very attractive, as long as you have the funds to buy a few modest shares first (versus buying an entire Bitcoin in 2024). You just want to avoid the banks that have questionable practices as those could fall or remain unprofitable for a long time.

[Dailyscript]

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.

Buying the shares of a bank is different from saving and investing with the bank. I will totally recommend people buying the shares of a bank, defending how successful the bank is. It doesn't have to be one of the biggest banks in the world, as long as that bank makes a lot of profit at the end of its financial year, it might be a good idea to buy its shares if you want to diversify.

Actually it has the potential to make gains even quicker than Bitcoin

Traditional banks do not make as much profit as we think they do. Most of them rely on loans and international exchange to make good profits in the banking system. Having a share in a bank would only potentially for more gains compared to investing in Bitcoin if the shares in that bank are above 5% or 10% anything below that is average. Investing in Bitcoin would give maximize profit if large money is invested in it, and over the years may be a decades or interval 5 years. Bitcoin would yield more potential compared to the shares any bank could give.

[arwin100]

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.

Buying the shares of a bank is different from saving and investing with the bank. I will totally recommend people buying the shares of a bank, defending how successful the bank is. It doesn't have to be one of the biggest banks in the world, as long as that bank makes a lot of profit at the end of its financial year, it might be a good idea to buy its shares if you want to diversify.

Actually it has the potential to make gains even quicker than Bitcoin

Traditional banks do not make as much profit as we think they do. Most of them rely on loans and international exchange to make good profits in the banking system. Having a share in a bank would only potentially for more gains compared to investing in Bitcoin if the shares in that bank are above 5% or 10% anything below that is average. Investing in Bitcoin would give maximize profit if large money is invested in it, and over the years may be a decades or interval 5 years. Bitcoin would yield more potential compared to the shares any bank could give.

They are giving low percentage per annum which is really bad if we look for profitability. That's why if they think about investment banks would never be the best option for them since the only thing they can get their is fixed low annual returns.

While if they put their money in bitcoins either they choose to trade it or just hold their asset for long time their are huge chance that they can earn more better especially if they gather a lot more experience then know or figure out already how they can figure out such situations need to look forward and how to take advantage in those situation to gain some returns.

[legendbtc]

Traditional banks do not make as much profit as we think they do. Most of them rely on loans and international exchange to make good profits in the banking system. Having a share in a bank would only potentially for more gains compared to investing in Bitcoin if the shares in that bank are above 5% or 10% anything below that is average. Investing in Bitcoin would give maximize profit if large money is invested in it, and over the years may be a decades or interval 5 years. Bitcoin would yield more potential compared to the shares any bank could give.

Ignore altcoins and shitcoins, and if we compare bitcoin to traditional investments, bitcoin is the best return investment I have ever seen. But the higher the profit, the higher the risk. Bitcoin has greater risk than investing in stocks or depositing money in banks, we should not deny that.

@OP, A few banks may go bankrupt during difficult economic times, but that does not mean the entire world banking system will collapse. We should remember that the banking system has been around for hundreds of years and has gone through various economic crises, while bitcoin is only 15 years old and hasn't even gone through any major crises yet. Therefore, rushing to judge bitcoin as safer than banks is completely wrong and biased.