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

[Gluttony 1775]

The concept of block chain technology is actually about freedom. It means that, you could do whatever you want even if government is there existing, they still can’t control the things you can do with your personal finance. I would personally say that block chain technology is much safer than banks just because of this concept. I am not saying that banks are not that safe but it’s just that government can still do something about it which means that they have the power over it since it is a centralized institution.  While block chain has a  power of securing your data security safety which means that it is only upon the user itself if they will leak their own personal data information about their accounts.

[muniral4422 185]

They are both safe for storing your funds but I find crypto to be more promising since I am the one that is in charge of my security. I make sure I use all the security features that I can get. The best of all is the use if hardware wallets which is said to impossible to hack.

[Maaz sultan 265]

On 12/20/2019 at 8:03 PM, Opinder said:

Banking system is safer than blockchain system to keep your money because in blockchain your account can be hacked easily and you will get nothing but in banking system bank provides you full security and if your money transferred to other account bank can take that money back.

That is a positive point of real estate banking system but they dont give enough profit as these crypto currencies have the power to make your money 2x in just one week but if you are a real crypto investor you need to choose a very secure wallet and enables all the security options .

[safwan944 54]

If you want to make a good profit from the money than one must choose blockchain technology but its riskier again one can keep money on banks but cant make profit out i=of it just your money will remain as same as you kept.One is riskier but profitable again one is safiest.

[Onden 2098]

In my opinion saving in a bank is not safe, because if the bank goes bankrupt, our money cannot be withdrawn either. different from blockchain, in my opinion, storing money on the blockchain also has a risk, namely hacking, but we can anticipate this risk with good security, and in my opinion blockchain is safe if we store it carefully.

[MalikAdnan 1662]

Yes it is very good topic. I think personally bank system is very secure and safe. Blockchain is a good and fast system but blockchain hacked very easily so be careful bank system is very good and secure and money transfer all data in one statement. 

[Sykkuno 2887]

It is safe in both. I have no fears for the banks but many people have because in some places the banks made the mistake to clear deposits and bail out using them. Also banks can confiscate accounts but this cannot happen if you hold the keys to the money and not have another one manage them. So with blockchain technology this can be safer but not with custodial wallets and exchanges only when we hold the private keys.

[sarahmoses202020 251]

On 12/22/2019 at 2:38 PM, Thekingcallme said:

I believe that the blockchain is the safest and most secure way to keep your money safe from theft or loss

This is true. There is no place that is safe as the blockchain. Banks are not secured enough plus with blockchain your money keeps growing due to the fact that the crypto market is volatile.

[nykas 2812]

I think keeping money in cryptosphere is more dangerous, than keeping it in bank, but cryptocurrencies offer a lot of advantages like anonymity, high payments speed and percents on deposit, especially DeFi projects

[Fixfin 2569]

Blockchain is actually safer but there are many scammers and unstable exchanges that can get hacked like the latest kucoin hack and traders are afraid for their exchange wallets. The blockchain means that we own the keys and only we have access to the coins but the centralized exchanges are sometimes very dangerous to hold coins there without having a purpose.

[Cryptokool 14]

Defi is the wat to go, no more money printing

[rodr9572 37]

Hello!. I think it depends on the country where you are, or the country where you have your money so to speak. There are banks that offer good security, confidentiality and interest for your savings, but in the crypto world you could make astronomical profits in some cases overnight after hard research or trading work, of course with a high associated risk of staying. in bankruptcy. it is a matter of setting a goal and knowing how much you can risk!

[Teminali69 1081]

I think both have disadvantages and advantages for example when comes to crypto wallets there is no insurance and one mistake could make you lose all your money. well i can not tell all  the differences here but i pick crypto wallets.

[Shamsiddin 54]

I think banks more safer  than blockchain for money saving . Banks are traditional way to save money. 

[Alex9876r 1408]

Since we see that the banks are now adding the blockchain and the global digital markets are adding currencies to the means of their payment, we can make sure that the blockchain won in this battle. As for safety, the storage and security of currencies depends on people not only and the extent of their concern about not distributing their information or maintaining their cold wallets. Otherwise, I do not see any risk of loss.

[Amiami 1362]

The comparison is born in fact from history and where both assets are headed, gold in its beginnings was a precious metal that was abundant in nature, however, exploitation has taken it to the point that a simple stone can be worth thousands of dollars  The same happens with Bitcoin, which from time to time decreases the profit of the miners and in turn decreases the supply in the market, which is why it is considered the gold of the 21st century.

[Goyaa 2414]

Currently saving in the bank is not profitable, because in my opinion it only benefits the bank, there is no profit for us, they give very little interest, not worth the decline in the value of money if I save for a long time. It's very different if I save money on the blockchain, for example bitcoin, if I keep it for a long time I will make a profit, because the price of bitcoin continues to rise. About security in my opinion blockchain technology is very safe.

[hasaan 289]

The two things is differ from each others, the the is old but the are now u to date with the new technology. The bank is deal with the fiat money and done the operation with the cash but the blockchain is the the backbone tech of the crypto which is responsible for the all crypto transaction. 

[yonkii 3205]

Bitcoin is the new gold it is digital running in a secure system of payments that everything is transparent open and a huge industry of cryptocurrencies is building above Bitcoin, creating jobs and developing ways to make our lives easier. Crypto will be a part of the new industrial revolution.

[annayks 2314]

I think that safety is provided by banks too, although your money there is the banks money. With cryptocurrencies you and only you have access to your money and nobody else if you are the holder of the private keys. And with Bitcoin and some more cryptocurrencies you can send anywhere and nobody will stop your transcation from executing.

[percare 3192]

It is safer having your money on Bitcoin and holding the keys. It is the safest way although there are some dangers too as criminals have already abducted people and tried to forcefully take control of the private keys and the funds in the wallets. There is need for further security by making access to the private key harder.

[Michar1 1693]

Hello, the Bitcoin currency is called 21st century gold, since it has a large value and offers many advantages, currently there are many ways to acquire bitcoin and totally free, from faucets, ptc sites etc.
Well I hope this information will serve you.

[Brandonsaw 1973]

Of course, it is better in exchanges to save your cryptocurrencies since banks give you little interest, these almost in a year earning only 10% or less interest and in exchanges you can put them and generate a higher daily percentage since in cryptocurrencies you arrive  to double your money quickly.

[mahdititus16 216]

that is good question brother but i think it is so easy beacsue the twois safe and i can tell you another thing 

If someone wanted a safest place to save money i suggest it to banks. Because bitcoin fluctuation is high but can give a good return

 so that all my information about what you asked for , good luck bro .

[Teminali69 1081]

I could say banks are much safer because they have guarantees for your money insurance and all, but cryptocurrencies gives you more freedom.