Bitcoin - lower fees, you have your own bank, transactions is easier and faster, identity of the owner is anonymous, volatile value
Fiat - higher fees, you need some company to put your money on, transactions takes some time and requires some verification if you are owning a large amount, stable value
Yes and in fiat you cannot huge amount of money with you physically as there is always a chance of money getting stolen or getting robbed but with bitcoins you can carry any amount in your bitcoin wallet and no one would be aware about it.
Looks like you forgot to add that anyone with access to your private key is the actual owner of the coins, so cases of theft are not alien here nor something exclusive to fiat currencies. One more thing, lower fees is now, used to be with Bitcoin as these days we are daunted with increasing cost for carrying out transactions in the Bitcoin ecosystem and this a real cause for concern for most bitcoiners.