Post
Topic
Board Economics
Re: Investing on Cryptocurrency is safer than saving or investing with local banks
by
kawetsriyanto
on 21/08/2024, 23:33:12 UTC
People invest and save in banks because they think it is safer.
Are there people assume to keep money in the bank is a kind of investment?  Huh
Save money in the banks isn't 100% safe. In my country, there are quite a lot of private banks that have closed because of bankruptcy or other reasons. As the result, the customers' money is trapped. Even, many of them still didn't get their money back after years.

Cryptocurrency is a risky investment and you might lose your money if you misplace your private key or recovery phrase or if your wallet/ account gets hacked.
It is actually the basic knowledge in crypto. If we learn it carefully, I'm very sure that we can deal with the risk. Managing private keys/phrase isn't something very difficult but it requires the caution.

The majority of the people are not risk-takers and go with the conventional methods when it comes to investment.
If people aren't brave to take the risks, they are better to stay away from investment. There is no investment with zero risk, no investment can guarantee profits 100%. Kindly focusing on saving if the people don't have a bravery to deal with the risks. These kind of people will easily blame crypto if they fail in crypto investment, they are better not to come in crypto investment.

Also, people are often reluctant to invest in a new project.
This is just a choice. It is not a must to join new projects. There are too many old projects with good reputation if someone doesn't want to invest in a new project. I think it is not a big deal!