Bank saving versus bitcoin wallet

[Asad Ali]

The are absolutely different.Yoi deposit cash in financial institution to both store for raining days /proceeding business /short get right of entry to to liquidity.In banks savings, you've got got a totally little hobby to your savings .
While in Bitcoin wallet, it on the whole for ease of transaction November, and for better returns .And of path better chance than banks.

 

[Robrown83]

No matter how risky the Bitcoin,I prefer putting my on it to savings it in the bank because Bitcoin can make you to be a rich person within few hours while bank savings is can not even the money you saved instead of increasing it will be decreasing in the name of some bank charges that will be withdrawn from your money.

 

[Axad. Mrb]

Even if you’re a traditionalist when it comes to saving physical cash, you might be on track to using a digital version of a piggy bank in the not too distant future. In fact, it is highly probable that most of your money is already digital.

 

[Oche Diligence]

A bitcoin wallet contains a public key and a private key, which work together to allow the. The ability to avoid traditional banks or government intermediaries.
The wallet can also reside on a mobile device, on a computer desktop, or kept safe by printing the private keys.

 

[Edward2]

In its original fiat currency, placing your money in a bank holds it. If you put dollars in, the dollars will stay with the contents of your bank account. Bitcoin investment transfers the cash into a bitcoin token. If you buy bitcoins, bitcoins would be the contents of your wallet and due to its instability it will go up or down, so I prefer to have bitcoin wallet.

 

[Jeremiah Trump]

Wow am shocked by that question,how can you be saying bank wallet and bitcoin wallet because bank is just useless because Infact you cannot keep 10000 naira and expect to meet the same exact money because the bank will remove their own charges and will still not get your money double up but once you are using bitcoin will keep your money and still double it for you

 

[KvngMurphy]

I prefer saving in my Bitcoin wallet over local bank anyday anytime. Our local banks and their policies are no longer favourable to the masses hence they apply charges to everything that concerns a transaction both inwards and outward using VAT as an excuse to milk us

 

[MercySmith]

I do not buy the idea of buying bitcoin or any other crypto currency and call it savings. It is not savings but an investment because the value of can drop in the wallet. Unlike when you save in a bank, the value hardly drops.

 

[Blessedsam60]

Bank savings is just like dumping ones money somewhere with no interest or with little gain.
But investement in crytocurrency like bitcoin is the best investment so far. Bitcoin wallet is a bank for storing crytocurrency but bank account is where we save our fiat currencies.

 

[CeeJase]

On a general point of view, all is savings. Both yields interest over a period of time.
What you might consider here is the difference in the interest over a period of time. While Bitcoin's interest varies that of bank is constant.

 

[Thosynho]

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?

I prefer my Bitcoin wallet savings to bank savings. Though Bitcoin currency is volatile and fluctuate but keeping my Bitcoin in the wallet is as if I'm investing my money which may yield increase sooner or later.

 

[Tariq Nazir]

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 . 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.

 

[Diamond07]

The only similarity between a bank savings and bitcoin wallet is that you keep your money safe in both. A bitcoin wallet is far better than a bank savings as your money increases as bitcoin price rises

 

[FreshKaz11]

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?

Bitcoin wallet is far far better than bank saving, because one save money inside bank account doesn't yield but decrease in your money value,because bank charges from the money you save in there bank and monthly SMS charges as well and lastly maintenance charges again.

So at the end of the year you will see that you have lost a lot why saving money in your bank account..

But bitcoin wallet when you use your money to buy bitcoin and save it inside your wallet at the end of thee year when you leave it there it will yield a lot of profit for you...

 

[Bart Simpson]

To my recollection, I have never seen a transaction that has bundled Bitcoin in the blockchain [the blockchain is the public ledger that records bitcoin operations] . For tokens working with bitcoin in terms of price, I don't believe it is wrapped only with bitcoin alone because the defi token called yearn.finance is also working with bitcoin in terms of price and if bitcoin rises, it does the same too and when bitcoin falls, it also decreases in value.

 

[bolllyteee]

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?

I would prefer to have my money in cryptocurrency and save in my wallet than save it in the bank.This is my preferred option because it has tendency to increase in value unlike the conventional bank saving system.

 

[idhans]

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 not the best option especially over here in Nigeria where interest rate is very low. If you had bought Bitcoin 5 months ago when it was around 12,000 dollars you would have made over 300% by now.

 

[Kingsley]

Money in a bank account will worth nothing if not invested in a business or used for a productive venture or projects, it will not grow if it remains in the bank rather it will deprecate as a result of bank chargers and other deductibles. But money kept in the wallet will certainly appreciate as a result of it taking turns in the trading market.

 

[Klismannm12]

Body in his right senses would prefer to save his or her month on fiat currency taking cognisance of the fact that this money is being affected by the forces of nature which is devaluation,high inflation which over time make the money to reduce it's value.

 

[Anymore]

Bank savings cannot be overlooked as one would need it to purchase and trade with crypto on when it is saved in the bank account, so I say both account works hand in hand and they are neededboth for smooth financial purposes.