Is Bitcoin safer than banking?

[bdamenaakter]

Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.

This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?

[CrypMania]

The reality on the ground is that, banks have been around a long time and have proven to be trusted. You are comparing the safety of bitcoin and banks and you couldn't say anything that bitcoin poses that makes it more safer than banks.

[Rivaldi Kunkun]

The reality on the ground is that, banks have been around a long time and have proven to be trusted. You are comparing the safety of bitcoin and banks and you couldn't say anything that bitcoin poses that makes it more safer than banks.

This is true. that the bank still got the full confidence of all the people and the Government of the bitcoin on. I think this is normal because of the nature of the bank can be monitored more than bitcoin.

[wanggober]

In my opinion, the Bank is safer than bitcoin, because the Bank has been recognized and regulated by the government, while for decentralized and anonymous bitcoin, nothing makes Bitcoin safe

[Quart]

In my opinion, the Bank is safer than bitcoin, because the Bank has been recognized and regulated by the government, while for decentralized and anonymous bitcoin, nothing makes Bitcoin safe

Yes, I think you are right. Bank is still safer for now yet bank has a secure system supporting by government while bitcoin seems too volatile and unstable. Even sometimes bitcoin can multiply its values significantly but there is a big risk to lose all investment. 

[kamal420]

For me yes but somewhat no. Yes, because surely your money will profit without any interest cutting of by any system. Instant profit, meaning if you invest now tomorrow it will profit and if the value is low it will be lowered. No bankruptcy, meaning the money safe since it is invested in the blockchain or rather crypto market. No, because the value of a particular coin and token cannot be determine. In some matter you will lose dollars if it will be lowered so you must work on it.

[Mut-coin]

The reality on the ground is that, banks have been around a long time and have proven to be trusted.

[Stavr1992]

At the moment, I would prefer to invest in Bitcoin than in a bank. In the bank now it’s generally unrealistic to earn something, rather they will earn on you

[Alpha]

I think banks and bitcoin are the same safe with their own strategy in handling the particular storage of data. Bitcoin have weakness and strength same with banks.

[Vasilias]

I think bank is still better as long as the concern is about the safety of your fund. Bitcoin is safe but its advantage is just the chance to be the other source of income.

[Crazymelons18]

Maybe we can base our thoughts on these if we can ask more people about how they feel about banks as a safe storage of money. But not to take any side and not to compare, In my locality I haven't heard about such fraud concerning the banks itself because if there is people would certainly get out of banks and find another means to store their money. I think many still believe banks are safe. If such case have been recorded maybe it doesn't really get to the majority of the banks therefore this is a kind of an isolated cases only.

[Arendra]

I think for security reasons, banks are safer than bitcoin. Because banks are institutions that get government support. But for reasons of technological sophistication, I think bitcoin is more powerful than banks.

[diygirl]

For that, especially in terms of security, the Bank is safer than Bitcoin. Because banks still use the centralized system in their finances and still use manuals, so it's safer, but it's also wasteful of budget. Unlike Bitcoin, security depends on us alone because it uses the Decentralized financial system, it is also beneficial in making transactions because without having to have a third party and be more economical. That's the difference in security.

[DakuS]

Banks are safer because there is someone to take care of your problem if anything wrong happens with your money in the bank and people are comfortable with the banking system whereas bitcoin is new, most people don't know about it and if you lose your bitcoins to any scam, them there is no one to help you.

[Sabarhati]

the problem is not very well understood, as far as I know it is still safe in the bank, what else is storing bitcoin can still be broken or stolen like I did yesterday, for example if it is added to security it will definitely be safer to store bitcoin