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Silos generally work as storage structures between supply and demand for various goods, and their structural safety has long been of interest to the civil engineering profession. This is especially true for dynamically loaded silos, e.g., in case of seismic excitation. Particularly thin-walled cylindrical silos are highly vulnerable to seismic induced pressures, which can cause critical buckling phenomena of the silo shell. The analysis of silos can be carried out in two different ways. In the first, the seismic loading is modeled through statically equivalent loads acting on the shell. Alternatively, a time history analysis might be carried out, in which nonlinear phenomena due to the filling as well as the interaction between the shell and the granular material are taken into account. The paper presents a comparison of these approaches. The model used for the nonlinear time history analysis considers the granular material by means of the intergranular strain approach for hypoplasticity theory. The interaction effects between the granular material and the shell is represented by contact elements. Additionally, soil–structure interaction effects are taken into account.