Is your money safe in a bank or a bitcoin wallet.

[Obulis]

~snip

The key word here is diversify. But at the same time you gotta do it smartly. Bitcoin is actually safer infact the only person that knows about your bitcoin is supposed to be you unless you give out the information. That aside the bank is pretty much the direct opposite.

The government can seize your funds and nothing will happen. The bank can confiscate your money under certain conditions and nothing too will happen. Centralization has a lot of risks but for decentralization the risks are the ones you create room for.

These seizure or confiscation of money in the bank has caused many a lot of bad luck if you may call it. Sometimes you won't be able to get your money in the bank due one reason or the other even impromptu maintenance and that can land someone to missed opportunities before talking about government seizure and confiscation that can even be the end of that bank and in weak countries that marks the end of every money owned by every customer in that bank. However, some governments or some countries also has limits to use of Bitcoin. Altogether, the security of both bank and Bitcoin wallet also have to do with you. Depending on your location, for me I will have all the money that I can have or have targeted to have in Bitcoin and have what I can have in the bank, then make sure that personal security is excellent to start with.

[Fiasem20]

This question is tricky but sensible.
Firstly, banks are centralized institutions and there are regulations governing them generally so in case of any security breach on their end they will bear the loss but you money is safe even when banks close down your money will still be given to you because the government regulates it. But when you expose your bank details to scammers and suffer personal loss due to your own negligence the bank most times cannot recover your money

Now for bitcoin, we have exchanges and different hardware wallet we can now see have been receiving attacks and security breach the people who bear the loss are the end users and their lost btc might not be recovered. However, you can also protect you btc by self custody without using exchanges and all that but you need to know how to protect it.
Satoshi made bitcoin to enable those who believed in decentralization, so these recent attacks should be an eye opener and we should be able to teach ourselves how to protect our btc

Normally bank na centralized institution and any mistakes from their end go be as a result of their security wey no tight,now wetin give you that guarantee say the bank wey you dey save your hard earned money and dem face hack and the bank go con refund their customers wey the hackers reach steal their money dem fit sha refund affected customers but before dem refund their customers dem dey first carryout thorough investigation if truly say those affected customers dem been get money for their account.But for the case of the wallet,if the security breach dey come from the company e no really dey possible say the company go compensate their customers for their lost coins except na the self custody decide to compensate their customers since the mistake dey come from their own end.Anyhow sha both bank and wallet get their own different way wey dem dey take address matters like this.

[icebar]

This question is tricky but sensible.
Firstly, banks are centralized institutions and there are regulations governing them generally so in case of any security breach on their end they will bear the loss but you money is safe even when banks close down your money will still be given to you because the government regulates it. But when you expose your bank details to scammers and suffer personal loss due to your own negligence the bank most times cannot recover your money

Now for bitcoin, we have exchanges and different hardware wallet we can now see have been receiving attacks and security breach the people who bear the loss are the end users and their lost btc might not be recovered. However, you can also protect you btc by self custody without using exchanges and all that but you need to know how to protect it.
Satoshi made bitcoin to enable those who believed in decentralization, so these recent attacks should be an eye opener and we should be able to teach ourselves how to protect our btc

Normally bank na centralized institution and any mistakes from their end go be as a result of their security wey no tight,now wetin give you that guarantee say the bank wey you dey save your hard earned money and dem face hack and the bank go con refund their customers wey the hackers reach steal their money dem fit sha refund affected customers but before dem refund their customers dem dey first carryout thorough investigation if truly say those affected customers dem been get money for their account.But for the case of the wallet,if the security breach dey come from the company e no really dey possible say the company go compensate their customers for their lost coins except na the self custody decide to compensate their customers since the mistake dey come from their own end.Anyhow sha both bank and wallet get their own different way wey dem dey take address matters like this.

I agree with you a lot, but I see some things a little differently. It doesn't seem right to say that if there is a security problem in a bank, it is because of their weak system. Because many times, money can be stolen due to customer carelessness or fraud. Whether the customer will get the money back if money is stolen from a bank depends on the investigation of the incident and the laws of the relevant country.

In the case of a self-custody wallet, the responsibility for the security of your Bitcoin lies primarily with you. Because here no company controls your private key, there is no guarantee of compensation if your Bitcoin is lost. However, in the case of a custodial wallet, the matter is different, there may be some liability of the service provider. In my opinion, whether it is a bank or a Bitcoin wallet, you should store your money after understanding how much security there is and how much responsibility you have.

[Berry2d]

Your money is safe in the both, Regardless non will give you a 100% security, they could both suffer from hacks, physically theft and so on,

So in terms of storing money it's more about which one is more comfortable for an individual personaly, than which is safer. Non of them is totally safe.

Banks and Bitcoin wallets are safe to keep money in, but nowhere is it 100% safe. If you keep your Bitcoin wallet, it may be hacked, and if you keep it in a bank, sometimes the bank is robbed and the cash is taken away. Of course, if you keep money anywhere, there is a risk, so I think there is a risk in both places, more or less everywhere. However, people currently keep their money where it is more convenient, especially if you invest in Bitcoin compared to banks, it gives a lot of convenience.
If you invest in Bitcoin, it may face losses due to market instability, and when you keep money in a bank, then if you keep cash, there is a possibility of loss due to inflation. Bitcoin is not completely safe if you keep money and if you keep money in a bank, there is a risk in every place, everyone has to accept this.

It is at banks detriment if their banks are rubbed and not the business of the customers,  so we should not consider this as a justifying reason.  The only aspect you will look at is if scammers gains access to once personal information and the saved capital stolen on the process that is the only risk we should be talking about while saving in the bank.
As for assurance of keeping the money save banks can do that but the only disadvantage is the  non significant interest that comes in after investment while Bitcoin can increase once invested capital if the price of bitcoin keeps increasing.
If we are talking about saving money, I think banks appears to be the best option but if its for investment I know bitcoin is the best because of its possibility of transforming lifes into good.

[Chinesebaby]

Normally bank na centralized institution and any mistakes from their end go be as a result of their security wey no tight,now wetin give you that guarantee say the bank wey you dey save your hard earned money and dem face hack and the bank go con refund their customers wey the hackers reach steal their money dem fit sha refund affected customers but before dem refund their customers dem dey first carryout thorough investigation if truly say those affected customers dem been get money for their account.But for the case of the wallet,if the security breach dey come from the company e no really dey possible say the company go compensate their customers for their lost coins except na the self custody decide to compensate their customers since the mistake dey come from their own end.Anyhow sha both bank and wallet get their own different way wey dem dey take address matters like this.

That area of ability to refund after a hack na one area wey bank take get advantage over Bitcoin. And also with the area whereby even your next of kin fit access your money even after your death na advantages wey bank get over bitcoin. But apart from those areas, if we are to talk about personal security and control over your assets, that's where Bitcoin comes into play. Because with a money in the bank, governmemt can just decide to block your account at anytime if you are alleged to have commited a crime and you can't do anything, whereby had it been it were in Bitcoin, you would have had ultimate control over what happens to your asset.

[Youngrebel]

That area of ability to refund after a hack na one area wey bank take get advantage over Bitcoin. And also with the area whereby even your next of kin fit access your money even after your death na advantages wey bank get over bitcoin. But apart from those areas, if we are to talk about personal security and control over your assets, that's where Bitcoin comes into play. Because with a money in the bank, governmemt can just decide to block your account at anytime if you are alleged to have commited a crime and you can't do anything, whereby had it been it were in Bitcoin, you would have had ultimate control over what happens to your asset.

Na true talk you talk mostly the part where after death you next of kin go get access to your funds and thats why e get who you suppose thrust for family or one Pekin wey you suppose thrust of Na bitcoin you dey deal with that person wey you suppose let know say see why your assert them dey when you don go at least e better paa say you come leave am die for wallet no body come get access to am tho am not saying those who deal in btc will die early or might die early all am saying is we need to be prepared for the worse just the same way you are always trying to protect your bitcoin assert make sure you don’t leave it as a waste because death is a promise and no man on earth can excape and the most painful part is it comes unexpectedly.

[Powerjumboo]

I don't have any money in the bank, I keep what I have in Bitcoin and I think it is much more reasonable to keep money in Bitcoin than in the bank, although there are risks in both cases. Now if we are afraid of investing in Bitcoin and keeping money in the bank because of this risk, then it won't work, we have to take the risk, we have to take the risk and move forward. Moreover, I am not afraid to keep money in Bitcoin because I have ensured the maximum security of my wallet.

[Emjay24]

~snip

The key word here is diversify. But at the same time you gotta do it smartly. Bitcoin is actually safer infact the only person that knows about your bitcoin is supposed to be you unless you give out the information. That aside the bank is pretty much the direct opposite.

The government can seize your funds and nothing will happen. The bank can confiscate your money under certain conditions and nothing too will happen. Centralization has a lot of risks but for decentralization the risks are the ones you create room for.

Interestingly, EFCC has obtained the permit to freeze any suspected funds on the move for 72 hours of which they will initiate investigations to ensure it is not linked to crime proceeds, so every huge funds moving around within the Nigerian banking system is a target. We know a lot about the false positives of the investigations, if they decide not to return the funds to you, they can confiscate it on claims that are non-existent. Bitcoin is always better to hold larger volumes of fund since you can move your money around and spend it without permission.

[Abu-Naim]

I don't have any money in the bank, I keep what I have in Bitcoin and I think it is much more reasonable to keep money in Bitcoin than in the bank, although there are risks in both cases. Now if we are afraid of investing in Bitcoin and keeping money in the bank because of this risk, then it won't work, we have to take the risk, we have to take the risk and move forward. Moreover, I am not afraid to keep money in Bitcoin because I have ensured the maximum security of my wallet.

With the listed hacks, there should be panic among people who hold crypto since big and reputable crypto wallets were hacked, and people who use banks to save their money. But we can’t just go to a place we are not safe just because of these attacks, we still need to remember how good these wallets are not just how they were attacked.

Banks are here, they are actually very safe because the government is in control of everything and they will hardly go without paying their customers in case they get problem or they were hacked. But for crypto, you are on your own since the government didn’t legalize it, you will take the responsibility yourself if any of the wallet you are using got hacked. 
However we need to take our privacy into consideration, we can’t just give other the control over our assets, we need to take the responsibility still. If you have money to keep for long, bank is not for you because fiat will lose value, then it is good to buy Bitcoin and use a simple non-custodial wallet to hold your Bitcoin keep your seed phrase safe and make sure you download the wallet from their official website.