Bank saving versus bitcoin wallet

[Efficient5713]

I have sat and wonder in search for answers but could not find any answer to my question.
What is the difference or in what way is bank better off than bitcoin wallet or vice versa?

 

[Lagazine]

Bank savings what? I prefer to save my money in Bitcoin wallet and watch it increasing then to have my money spent by bank officials in the name of bank charges.

 

[WhiteHouse]

Bank savings is not better off thansaving in Bitcoin wallet, in Bitcoin Wallet your money is either going up or down as the market moves, but in the bank your money is stagnant, and due to high inflation the value of your money is reduced.

 

[Peterlight]

Bank savings is better cos you won't have to worry about anything happening to your money cos if you save your money on bitcoinwallet, you might loose all your fund when the network crashes

 

[Sincerem]

Bitcoin savings, is better off to me, I prefer putting my money up there in any rising Cryptocurrency, hoping it will increase more. I don't invest only in one coins alone, I split my savings into four, saving using BCH, BNB, BUSD, BTC. Knowing too well that they have potential to rise more and bring me profit.

 

[mattyrukee]

This actually depends on what you are looking at.

Money saved in the bank never appreciate or let say will only appreciate with little fraction.

Money in a Bitcoin wallet is never stable because of the volatility. It either rises or fall.

It's more better to buy usdt which is not so volatile.

 

[Odekayodejnr]

Why will I keep my money in the bank that will only be adding just little interest for me,when I can invest the money and make more money

 

[tuna89]

Putting your money in a bank keeps it in its original fiat currency. If you put dollars in, the contents of your bank account will remain dollars. Investing in bitcoin transfers your money into a bitcoin token. If you purchase bitcoins, the contents of your wallet will be bitcoins. To benefit from btc, allow the price to fall before purchasing.

 

[Nurudeen]

I'm also in the same position as yours, if you save your money in banks, it only accumulates a little bit of interest at the end of the month. But if Bitcoin rises your money rises also. The down side here is if Bitcoin also fall your money also falls

 

[Sariana23]

I think you should keep the money in the banks since there are no risks, with bitcoin you can save and generate more profits but you can also lose

 

[Josemendez]

If it is bank saving that involves Interest then it is better than Bitcoin investment because your capital can't depreciates

 

[Presido]

When it comes to risk, banking is safer compared to the Bitcoin wallet, but think about the profit, risk is needed to taken at times

 

[Doncy]

Talking about risk taking, bank is more preferable to bitcoin and there is neither increase or decrease except your package with the bank

 

[LaylaG]

I think they're almost thing...the only thing is that your money in a wallet has the tendency of increasing Iver the time.. while in banks your money doesn't increase instead it reduces based in the bank's charges and everything

 

[Venant]

Each has it's own benefits, advantage and disadvantage. Bank savings is somewhat secured compared to Bitcoin, besides Bitcoin isn't a savings platform but an investment one.

 

[Naz Noshin]

I have sat and wonder in search for answers but could not find any answer to my question.
What is the difference or in what way is bank better off than bitcoin wallet or vice versa?

Both are good. People can save money in banks and can save money in bitcoin wallet. But there is always risk for using Bitcoins as saving money. Because bitcoins situation now not stable .

 

[vest1992]

Bank saving is not something to do these days, I remember when I was small my grandparent sold their apartment and they put the money they earned in the bank so they will get back monthly comission, but in 2-3 years the bank went bankrupt and they lost all the mooney, they didn t even get 10% back from commissions. Meanwhile BTC is a better way to invest.

 

[Tiwa]

I have sat and wonder in search for answers but could not find any answer to my question.
What is the difference or in what way is bank better off than bitcoin wallet or vice versa?

The two are completely different.Yoi deposit money in bank to either save for raining days /intending business /quick access to liquidity.In banks savings, you have a very little interest on your savings .
While in Bitcoin wallet, it mostly for ease of transaction November, and for higher returns .And of course higher risk than banks

 

[olajohn]

Bank is not in anyway better than bitcoin when it comes to savings, all you have to do is make sure you use a secured wallet such as blockchain

 

[Ltherman]

Lol. There is no interest rate by a bank that beats the growth rate of a crypto wallet since ones deposit in his wallet grows with the percentage of growth proportionate to the general growth in the crypto market. Basically money should be in the bank for spending bit also diversify some of your portfolio. Move some of your cash to crypto