Bank account vs wallet !

[Rafiq]

Banks of any country are regulated by the government / central bank of that country. If my bank account is emptied by a fraudster there, we will first go to the government or the bank regulatory authority, then to the police. They will look into the matter. Usually the bank authorities are obliged to return the money.
Crypto Wallet On the other hand, if a cryptocurrency is emptied by a fraudster, there is no hope of getting it back, because there is no information as to who struck the coin; However, if some exchangers lose their exchange account, they pay compensation.

[Bobcrypto]

As far as bank account is concerned, account owners may receive assistance on event of a stolen funds,but in crypto wallet, there is no such privilege given to individuals. If a bank account is emptied by hackers, individual may little little help from the banks for recover but in crypto, any fund hacked or stolen in individuals wallet can't be recover.

[Raboni]

Blockchain is unreversible once sent money into the wrong wallet (you are responsible of your own wallet and investment) -unregulated. Banks can track and reverse the record straight forward to the particular IP, then the police officers will carry a warrant of arrest to suspect and interrogate the person (they are the responsible to care your investment)-regulated.

[Absolute]

Neither you can save one of them. To avoid that happened careful with your fund for we know any little mistake could lead us for losing our fund.

[Vladok]

For me, it is more promising to keep my savings in cryptocurrency, because cryptocurrency can give very good growth and my savings will grow.

[Rafiq]

This is very important subject. When my money is lost from my bank account, bank is liable to back my money. Central bank takes sufficient security from Banks for subsidy in such case if needed. But if my crypto walltet is hacked and fund is stolen, I have no such strong security that exchange will ensure my stolen fund backed. But it may vary from exchange to exchange.

You are right, I agree with you on this point. Banks of any country are accountable to the government or central bank of that country;  So if money is lost from someone's bank account, the bank is obliged to return that money. But in the case of cryptocurrencies, there is no such protection and lost money cannot be recovered; However, some exchanges lose money from their exchange wallets due to hacking and return it as compensation. For example, the Kucoin and Binance  exchanges recently hacked their exchanges and returned the money to the victims.

[syedrasool2011]

In bank if you lost money fraud you will never back you money and wallet i think 2 example Last few year binance was hack low of bitcoin out from wallet but binance CEO return all money to user from there pocket and also last Kukoin hacked they also return there fund to member from there pocket.

[Mexite]

There is a higher chance of getting your money back in the case of bank fraud where the account owner is not careless or culpable but for digital asset loss from the victim's wallet, the loss is irrevocable due to the decentralized and irreversibility of a true blockchain.
my opinion.

[ranaprime]

There are some differences with bank account and wallet. In bank account Clint get more secure then wallet. Suppose your bank account hacked then bank authority can find out or you get back your money. If they can do it or not you will get your money. But in your wallet if your fund stolen then there is no way to refund.

[Fivestar4everMVP]

If you bank account is emptied by a fraudster, you stand a higher chance of getting your money back VS if the same thing happens to you in your crypto wallet.
Banks can investigate and track where the money went to, in some cases, they can catch the criminal, get him or her arrested and your money refunded back to your account.
But in crypto, its the other way round, as ones your money is gone, it's gone for good except the criminal decides to return it back by their own self will.

[Emmanuel Christopher]

In fiat bank account if your Money is being emptied by a fraudster, the bank might help to trace the transaction and might recover it but if they fail to do so then the  money is gone.
While in cryptocurrencies if a wallet is being emptied by scammers , the transaction is anonymous and can't be tracked so that means the money is gone for real.

[franch]

If your money has gone from your bank account due to bank errors, you will be entitled to defend yourself and get your money back from the bank. However, there is no way to do this in crypto. But as long as you are very careful and the only person holding your private key, crypto is always safer than a bank.

[lepbagong]

If your money has gone from your bank account due to bank errors, you will be entitled to defend yourself and get your money back from the bank. However, there is no way to do this in crypto. But as long as you are very careful and the only person holding your private key, crypto is always safer than a bank.

still the bank is the best for storage because it can still negotiate what happened because it is not our fault, not with wallet whose name is wrong, it is clear that there is no alternative that we can find again to look for it.
actually two things that are different and cannot be equated between wallet and banks, let what is already going well just need to run and cover each other's needs.

[flyaccount]

In a bank account, if we lose assets it is still possible to come back. However, if we lose assets in a crypto wallet, it is very unlikely that our assets will be able to come back again. And we will also find it difficult to find a way out.

[Renampun]

Hey guys, I have two questions:

1. If your current fiat bank account is emptied by a fraudster, what happens? How do you get your money  back?

2.If your currency crypto wallet is emptied by a fraudster, what happens? How do you get your money  back?

😃

both have their own advantages and disadvantages...
I currently still prefer a bank account because it guarantees my fund balance, but in the future when cryptocurrency is mass-adopted, I prefer crypto wallets.