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

[Saeed ur Rehman 112]

Blockchain and bank both are best for saving your money but I think so far bank is most safe place for saving your money 💰

[HasFahd 500]

10 hours ago, Mukky said:

Look,  even though block chain technology is on the rise and what not,  the truth is that banks are still the safest way to save money,  because at least when ever something happens,  you know where to turn for complains,  bit cryptocurrencies are not like that,  when ever something happens,  you are on your own.  @HasFahd

That's True, I also view banks to be safe place we can save our funds, hackers can attack us and if lucky, steal all our coins, but even something bad happens in bank, there is a way we can recover our money, but when we get hacked ,that impossible @Mukky

[Syriana 350]

Working in cryptocurrency is much easier than bank currencies, so banks do not control it and impose large fees and there are many important and reliable portfolios that you can rely on, so you have to work diligently and actively and regularly to produce bitcoin because it will become hard currency as they described it with gold because it is important like gold and it is difficult to obtain It only has to do with good work and prospecting, you have to keep it for the future, it will be more important, and whoever owns one Bitcoin will really get rich

[m7md 0]

Blockchain network features such as decentralization, anonymity, privacy, confidentiality and security are available to its users, as no one can monitor or control it unlike traditional banks that control all transactions.

[Ameralsamt 2558]

Dear, each of us has what thanks, and I prefer cryptocurrencies, they are safer, reliable and faster to deal, banks are stolen daily, they enact their terms that I do not like, and they act restrictions on us so I prefer Blueshan and cryptocurrencies. 

[Sanjana321 6]

On 12/23/2019 at 7:19 AM, kizz said:

I think both. When you say bank automatically it was sure trusted because it has permit in the government while in blockchain you can earn and invest money atleast you will know if it rises or not means you can have a look to your money anytime. It's just the matter of how will you take care of your money not to be hacked or robbed ^^ 

Thanks brother for sharing your valuable information it would be a great kind of helpful for many members in this forum because I was having a great confusion about which is more safer. Bank is more safer but blockchain help to earn a great kind of income.

[Roman Wickler 1021]

9 hours ago, SciBoy said:

I would suggest blockchain technology. Cause it's a technology that's fully assured not to scam people. As long it's there it won't ever scam peoples money cause it's decentralized. 

Yeah blockchain is best for saving because there is no fees and no vat . You can store more currency than you want . There is no scam and no hackers. And withdraw fees is so little and bank fee is so big . So i prefer blockchain. 

[Sayed28 563]

Blockchain is a bitcoins transection ledger.It was processed on a chronological order.As a result it has a small chance of corruption and its free from any third party handeling.Everyone is the owner of thir oen transection. No one can interfere rhere.On tge otger hand bankare not that much safer now days.So its safe to use blockchain rather  than banks.

[Faska fas 307]

The old traditional banking and safer ways to really think of this kind, the best for me would be a combination of banking and block chain, that involves safety and services together, blockchain brings safety and also the other one is how fast you can transact a huge amount of money

[Idaho Bruk 573]

I think if we talk about safer money I think Bank is safe than Blockchain technology, but i think if we have a big quantity of Bitcoin we dont hold it in Blockchain we will use hardware wallet so this option is safer and less than Banks

[Dadouasaad123 902]

I think banks are safer, but nothing comes without risk. If we increase the risk arena a little, in blockchain taxes are lower and deposits and withdrawals are easier and faster. As for Bitcoin and its analogy with gold, because both of them are a limited thing in the world, they have a limited quantity, and their value determines the amount of demand for them.

[Hamid_Nisha_002 470]

In this modern world bank and blockchain technology both are good to use and store our money.But i personally think that banks are more safe and secure thank blockchain technology. Because there are many scammers and there is a high chance to hack your account.But bank has a high security system. 

[Ayham7daoud 463]

 Bitcoin cannot be compared to gold at all, gold has been around for centuries and our daily circulation has great power and importance in our lives. Or Bitcoin, it appeared in previous years and many still do not have confidence in cryptocurrencies. 

[Onoru 229]

At the moment, bank system is still safer because of the security it provided, however, in the future time to come, the blockchain network will surely takeover from the banking system. This is because technology is fast taking over the banking sector. 

[Ahmad ah 1212]

Saving money in the bank is considered safer than saving money in the wallet because the wallet is more vulnerable than the bank.
Gold is considered a good investment, but its disadvantage is that its price is slowly increasing and its profits are few. As for digital currencies, they are more profitable and capital turnover is faster.

[Shuvo Mia 576]

Of course bank is more secure than blockchain. Bank is totally safe but in blockchain any time your account get hack. So i always prefer and bank. And banks profit is also so good. Have a nice day everyone. Take care.       

[teebasas 3018]

I believe that block chain technology is superior to traditional banking technology because it can handle very large amounts of data with no issues and is completely stable. Banks, on the other hand, are operated manually and are a little slower.

[kion 381]

I will definitely choose banks to be safer for money saving that blockchain, one of my biggest reason is just the fact that when anything happens , a bank can actually compensate it customers because it is backed by a financial body of a country, unlike blockchain that is not financially backed and there is no compensations for any damages.

[HumamAliDeeb 590]

Blockchain technology not only has the potential to make a difference in the currency market in the world, but also the banking sector in general by dispensing with these intermediaries and replacing them with a system that does not need a third party, has no limits and is transparent for anyone to access.
Blockchain technology is also likely to help facilitate faster and cheaper transactions, facilitate access to capital, create higher data security, enforce trustless agreements through smart contracts, make compliance with laws smoother, and more. Eliminate individual points of failure, reduce the need to put data in the hands of intermediaries, and transparency: Blockchain unifies common operations and creates a single common source of truth for all network participants. Trust: Transparent ledgers facilitate cooperation by different parties and reach agreements. Programmability: Blockchain allows reliable automation of business processes through the creation and implementation of smart contracts. Privacy: Privacy technologies enabled by the blockchain allow selective sharing of data between companies. Performance: Networks are designed to maintain a large number of transactions while supporting interoperability between different chains creating a network. Connected integrated blockchains.

[HadiLord 926]

Despite the security of banks and the blockchain, it cannot be said that the matter is 100% reliable, as it is possible for a collapse of the economy of a country, which prevents banks from disbursing money to depositors, such as what is happening now in Lebanon, and also in blockchain technology, you can guarantee the reliability of the currency, but it can happen. Hacker attacks on cryptocurrency platforms and you may lose your money without any way to recover it

[april1221 303]

On 12/20/2019 at 7:31 AM, Michal said:

I read about cryptocurrencies news, social media and other side and every one this place can tell me "That it is gold of the XXIst for investing money.

Gold, ok I understand this as a symbol of profit or some security for the future without worrying (exaple) about the total loss of money which my savings money from family generation to generation.
Apparently, gold can never drop to 0 in its value, because everyone wants it, has the applications humanity needs, is beautiful and is not easy to find
or bring it out. Just why they compare bitcoin to gold while being aware of the 2017 story when Bitcoin had a huge price drop in just a few moments. So why do they compare investment in it as in gold?

Is Bitcoin, or will it always be, as surely an investment as gold 50 years ago?

The technology used by banks and cryptocurrencies, namely blockchain, each has advantages and disadvantages in terms of security. From the bank itself, security is always enhanced with all the latest technology, but there are still criminals who steal bank customer account balances. The blockchain system itself has very high security, but if there is a problem we cannot ask anyone for help because cryptocurrency is private and cannot be controlled and supervised by anyone.

[Adam Stieve 18]

Both are save in our side. Bank is save because our amount is save in the bank account when we want we get the amount. In other side blockchain is also save because our amount is here save and change the value of coins 

[Jami ss 843]

Hello my dear friend I want to tell you that blockchain technology is too much famous at this time but I really preferred the bank system because the money is more safe in the bank system if we compare it with the blockchain

[sally.azzam 313]

Well, I think that the comparison is not correct, unless we consider that Bitcoin represents gold in the cryptocurrency market, that is, it plays the role that gold plays in public life, we note that bitcoin is based on the similarity with gold at the high price and the small number of the currency with its split every 4 years

[karam_s 412]

To keep your money from theft, it would be better for you to keep it in banks because it provides more security than blockchain technology. The world of cryptocurrencies is full of fraudsters so your money can be stolen easily if you are a beginner. Better to keep my money in regular banks. Blockchain offers us an ease in exchanging money  It is without any restrictions so it is easy to handle.