Banks vs Blockchain technology. Where is safer for money savings ?

[IamLeader12 682]

I think that the blockchain is much safer for storing money than banks because in the blockchain system no one can cancel/block your transaction or freeze your wallet. 

[guatazoo 7150]

The banks are experienced in the security with s couple of years, so that they know all security strategies, but blockchain has the experience of only 9 years. 

So that's means the banks will be more secure with our money although the blockchain itself has high security but not more than banks.

[NevermindNe 549]

I think that the blockchain is more reliable in terms of storing money, even if hackers somehow want to steal your money, they will need to try very hard to find your wallet in the system.

[pablomarwan 3082]

Well, there is a difference between them, of course, tangible gold and bitcoin by default. But we may call it e-gold because they belong to two different places and each has its own value, so gold falls into the jungle and rarely I hope you get the idea even though I haven't explained enough

[Babubu609 0]

Both we can save in them but the best of which you can save us the bank because in the bank the money you save in there will be secured and if lost you have right to complain and your money will kindly be Reverse back and paid back to you differing from blockchain blockchain is secured but if you made a mistake and lost you funds, it will be hard for them to reverse back your money to you or even to trace it than knowing the scammers if possible they are responsible for the stealing.

[Raqeebzy 6456]

Bank is far more safer than the blockchain technology. Because of hacker attacks, many will prefer keeping money with banks more than keeping cryptocurrency with blockchain. 

[teminalibug 309]

Just now, Raqeebzy said:

Bank is far more safer than the blockchain technology. Because of hacker attacks, many will prefer keeping money with banks more than keeping cryptocurrency with blockchain. 

That is true, but now 100%, the bad thing abut crypto security is that you have to take care of it yourself, while on backs you do nit have to.

[BitcryptoHan 2557]

4 hours ago, Faisialseeri said:

Both are acceptable to keep cash sparing, however I like more blockchain, in light of the fact that it's tax exempt, no compelling reason to stand up in a signal no requirement for wiat, moving and get pull back simple and brisk.

Not only that tax is not included in blockchain but also that transactions can not fail. There are many complaints in banks about transactions errors, it has happened to me many times but nothing like that in blockchain.  

[crypto7x 31]

the deference between them i guess in the blockchain you can control of your money like you want like you are having your bank account but in the banks there are rules and if anything happen in your area maybe it is stolen or maybe they will not make you withdraw your money like you want..

[magd 5231]

Encryption is good in addition to a wonderful blockchain wallet, but so far the level of security in encryption has not reached the level of banks, that is, we in banks we keep our money more confidently and safely because we are dealing with a central community. As for the blockchain, we are dealing with decentralization, therefore there is a possibility to penetrate the wallet and steal it and you will not know the source Theft and you will not be able to recover your stolen coins

[Ridam 7455]

It depends on  you and how you like to keep safe. If you know about the blockchain technology and can do little bit trading then you do Invest in Crypto in good Coin like btc or eth. And you can get profit from it but if you don't like these things you get some % interest from the bank at that time you can go with bank.

[Laboni 755]

I agree with you that it is safe to save money on blockchain technology, but not just many countries around the world use blockchain technology. Blockchain technology from banks makes it easier for us to speed up transactions. In almost all countries it is supported.

[MCSGlegend 2210]

I think that the blockchain is much safer than banks, simply because in the blockchain you are responsible for your own funds and most users understand that their data should not be spread anywhere.

[Nakamoto 279]

On 3/7/2020 at 8:29 PM, sovon1122 said:

The blockchain will allow bank transactions to be carried out faster and cheaper.Higher technology and the human intervention minimized. 

Smart answer for a beginner. Here's the real answer. Banks need a blockchain to secure their data. Besides, they will get low-cost operations.

[Nakamoto 279]

On 4/17/2020 at 12:15 AM, MaksS said:

In my opinion, if you only think about saving money and only talking about maintaining the traditional banking system or saving in gold, as you say, this is the best option. When we talk about gold for me, it will always be a permanent and absolutely safe way to save.

So what is a cryptocurrency for you? Do you think crypto is not a safe way to save? For me, bitcoin is the safest way to save money. However, you need to learn how to manage it.

[BrolySSJ 7899]

In terms of security of your funds and their value of course the bank would be much better as the price of your fiat currency is not as volatile as the crypto market and therefore you will always have that amount which can then grow with interest. This is not necessarily the case with crypto. In terms of security of your funds and how safe they are, i woudl have to say the bank again. Crypto is a digital currency and as a result it can be hacked and this is what makes it less secure because anything digital there is always a way to hack.

[Jimmy26 987]

One thing you have to understand if you want to make yourself more success and richer then you have to take risk that is the only way you can be more richer and not only in the blockchain you have risk also in banks if you are investing there also having risk but in cryptocurrency you will make more money if you have enough knowledge and experience because when you are getting failure you are learning from those things and trying your best to not repeat those failures things that's make your investments more perfect that is the reasons people are making more money after getting a long losses.

[Shaza Ahmad 1682]

I think gold is the most powerful investment in the world. Currently, the market value of gold is more than $ 8 trillion, while all cryptocurrencies including Bitcoin have a market value of about $ 250 billion, so I don't think there is any room for comparison at the moment.

[Nakamoto 279]

10 hours ago, Shaza Ahmad said:

I think gold is the most powerful investment in the world. Currently, the market value of gold is more than $ 8 trillion, while all cryptocurrencies including Bitcoin have a market value of about $ 250 billion, so I don't think there is any room for comparison at the moment.

So what are you doing here if you can't see that bitcoin is more valuable than gold? Did you realize you can't buy bitcoin with gold but you can buy a whole supply of gold with bitcoin?

[Nab 263]

i believe that in the bank it is safer to be able to keep  the money since if some robbery or loss is registered there are insurances that pay teh lost money and in some blockchain investment there is not much security to have our money well protected so we must be very careful where to invest our money.

[DokAgsikap 145]

On 4/24/2020 at 1:58 PM, bqolarer said:

You should first specify for how long is going to be those savings, if it is in not that long banks might be better choice but for longer time savings I prefer blockchain technology.

in banks , there will be a little aasurance that your money is in safe hands but annual interest is too low, while in cryptocurrency if you are lucky then it will be doubled but the risk is too high.

[Shaza Ahmad 1682]

13 hours ago, Nakamoto said:

So what are you doing here if you can't see that bitcoin is more valuable than gold? Did you realize you can't buy bitcoin with gold but you can buy a whole supply of gold with bitcoin?

This is not my word. The numbers speak. Didn't you see when the global markets completely collapsed? Who remained steadfast in front of this collapse? Is it bitcoin or gold? If you believe that bitcoin is like gold, this means that you know nothing about the cryptocurrency market and its fluctuations. Did you know that 90% of bitcoin is stored in wallets and is not traded? Did you know that if 5 million bitcoins were offered on the market for sale, then the price of bitcoin would drop to $ 1,000, whales govern the cryptocurrency market by having almost everything, whales cannot manipulate the value of gold in this way, even the greatest countries do not think of the gold value

[Rezort 846]

Well, there are actually some pros and cons of each one, but for me blockchain technology is not that controlled by the goverment as the global banks are, however you need to choose the right cryptocurrency to keep your money in.

[malik6314193 5449]

Banking system is good and safe then blockchain technology. We can loss our crypto money in many scam sites. We can send it to wrong address, we can loss in scam attack. 

[Kamila 291]

I think that blockchain is better for storing money because banks do not guarantee such high security as blockchain.