Any bank could "just" spend your money on your account
The central bank just prints money and thus steals 'value' from you (devaluation)
It's a matter of trust into an entity
The central bank just prints money and thus steals 'value' from you (devaluation)
It's a matter of trust into an entity
All trust is not equal.
Cryptocurrency people tend to believe that the stuff they're into makes laws and regulations obsolete, so who would bother writing up any of those?
Cryptocurrencies values can fluctuate rapidly and there's a strong precedent for your money disappearing in an exchange or otherwise.