Bank saving versus bitcoin wallet

[Adeyoola7]

We can see a gradual decrease in volatility. In fact, bitcoin is slowly becoming just as trustworthy as any national currency, you just have to take great care with operating your digital wallet. You can be your own bank and use a private wallet, but in many ways, this is similar to saving your cash in a sock.

 

[Osaz96]

I would go for bitcoin wallet with blinking. The profits you will get having bitcoins cannot be compared to the profits you’ll get keeping your money in the bank, Yes crypto has its risks but I can say for sure that when it rises the interests that’s banks give you cannot even stand close to the profits you’ll get in your bitcoin wallet

 

[singlej007]

Bank saving is just saving your money without hope of interest rather you pay fee monthly for tax, sms charges, card maintenance etc.. If not because keeping money at home may attract criminals and excessive spending if not, keeping money at home is more better. Crypto saving In wallet may increase or reduce your balance depending the current trading value of the coin.

 

[EMMANUEL]

I prefer Bitcoin wallet to bank saving, you see at this age and time, the financial institutions are expected to give back to every of there customer a token percentage just for banking with their fund in time past but the reverse is the cases a situation where you get debit for unforseen circumstances or service.
Banking system are beginning to lose their vital roles in the society to theft association. Bitcoins wallet is better of to an extent.

 

[chicnthin]

I would go for bitcoin wallet with blinking. The profits you will get having bitcoins cannot be compared to the profits you’ll get keeping your money in the bank, Yes crypto has its risks but I can say for sure that when it rises the interests that’s banks give you cannot even stand close to the profits you’ll get in your bitcoin wallet

This is so true. You could wait for a few years to earn an interest from the bank, with the amount of profit you could earn with bitcoin, and it would only take you days as long its price increases. Although it is riskier, but the profits you could earn are worth the risk.

 

[Bilal0087]

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?

Saving money in bank is better than saving it in Bitcoin wallet, because it is more secure and safe in bank account.
While in Bitcoin wallet, there is always risk of losing money, because it is very easy to scam with anyone in the digital world

 

[Taimoor Jutt]

In Banks there is no risk of loss. So there is no chance of loss and is altogether free of risk. After banks are also paying interest and profit after depositing money. But in bitcoin there is a risk but now it's up to you where you go.

 

[Sincerem]

I invest in Bitcoin alone at the moment because I don't trust the volatility rate of other coins. I have always have total trust that those that have Bitcoins won't lose in the long run. Sometimes, I imagine what life could have been, if I had invested in Bitcoin years ago.

Bitcoin volatility is stable, it doesn't fall flat like other coins, but it increases heavily than the rate it falls. That's why i love saving it up in my wallet than any other coins. Had it been we discovered its potential early and invest on it, by now millionaires status could have been ours.
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I invest in Bitcoin alone at the moment because I don't trust the volatility rate of other coins. I have always have total trust that those that have Bitcoins won't lose in the long run. Sometimes, I imagine what life could have been, if I had invested in Bitcoin years ago.

Yeah, Bitcoin is the coin you can invest and stand the chance to reap the reward in the future. Cos its volatile nature doesn't affect it too much, the price doesn't shrink easily. But increases rapidly than it decreases.

 

[Zevin]

If you want a secured investment, saving in a bank account is very secured. You get a guaranted interest rate. The chances of loss is under 0.1 percent. Contrarily, saving cryptos in crypto wallet can be little risky because the nature of crypto curency is volatile and the price is always fluctuating. But then you are also like to make good money if times are favorable.

 

[Ralphjoe]

Bank savings is just a way to save your money for you in the bank, the money is always left intact without it appreciating, you only get little amounts of money as interest on your money that is most times very insignificant.

Meanwhile, Buying or storing your money as Bitcoin is an investment being that the price fluctuates very much, it can go up within a very short time and you will make alot of profits on your investment and it can also reduce drastically resulting in heavy losses, so Bitcoin investment comes with a high risk.

 

[Royalty]

Saving money with bitcoin is quiet good because is not affected by this,it has a fixed supply of coins,so likely it more to hold value. That why decentralization via blockchain is one of bitcoin value characteristics, a d mesns no single institution like the traditional banking system

 

[Kelly5]

The regular bank I where I keep fiat money. I don't keep my money in cryptocurrencies. I only use these cryptocurrencies tto make and carry out my routine trades and business. But my raw cash, goes to the bank

 

[Kingsley]

Having my money in a bank will offer me nothing rather than indiscriminate charges and deductions. It pays to have my money in my bitcoin wallet where I can trade with it and increase my financial portfolio, and add more experience to myself.

 

[Profwriter]

If the comparison is based on storage of money or cash then bank savings is preferred, there are banks that adds interest to your savings and you dont have to worry if your money will loose value or not unlike cryptocurrencies that can appreciate and depreciate at any time.

 

[Shigobad2020]

Bitcion wallet is 100% better than bank saving account in a lot of ways , a friend mine has just #10,000 in his bitcoin wallet last month , the money is over #12,000 now while i have 25k in my account since last year and i onky have an interest of #150. So the difference is clear.

 

[Felixko]

bank saving is not good to me. always think like am to give my money to the people to make business. Bitcoin is the best . this is because, when the price of bitcoin increase there of increasement in your money and it is down, you will wait for bitcoin to increase before you will sell.

 

[tublack]

Talking about exposures to risks, I will unapologetically choose saving in the bank over bitcoin wallet any day and anytime
Those cryptocurrencies are not stable, you might loose so much is just a small period of time

 

[Achawaskey]

Both are different when it come to policies that is guiding there set up. Bank accept flat currencies, charges more and less interest rate on savings. Value of money kept in a bank does not depreciate, while bitcoin wallet is meant for electronic money with less charges and its values increase or depreciate according to market forces.

 

[iori23]

it is better in cryptocurrency especially when you hold cryptocurrency because the value of cryptocurrency increases every year., bank savings can be made depending on how much you put in the bank the interest is also high.

 

[Henrywrites]

If you want to choose between saving in a bank or crypto wallet, first consider your risk tolerance level.

Saving in a crypto wallet is definitely more riskier,but you should expect a lot of increase in your money if the coin is successful in that time frame..

There is higher risk in using crypto wallet as you rightly said. I won't consider a crypto wallet, when I am not risk averse as I will always worry about the value of the coin. However, one should be careful when saving in the bank as high inflation rate can wreck the value of your savings too.