Is the fiat money deposited in wallet sites, safer than the bitcoin?

Discussion in 'Crypto Assets' started by Daal, Jun 9, 2017.

  1. Daal

    Daal

    Lets say a site gets hacked, in theory, the fiat $ is a lot safer because the bank will usually simply not allow the hacker to make a huge wire transfer, but the bitcoins can be transfered instantly
    So when the news of the hacking comes out, investors can then wire out those funds and avoid any kind of BK/mtgox problem and keep 100% of their funds
    thoughts?
     
  2. just21

    just21

    At Mt Gox and recently Bitfinex you could not get a wire transfer out so you had to cancel the wire and buy Bitcoin trading at a significant premium to other markets and transfer them out before they went bust.
     
  3. Daal

    Daal

    good to know that
     
  4. just21

    just21

    Keep the absolute minimum at a Bitcoin exchange. Wire money in, buy bitcoin, transfer bitcoin to the wallet on your PC.
     
    johnarb likes this.
  5. lojze

    lojze

    Which wallet is the best solution?