Nanotechnology uses biological and non-biological materials to create new systems at the nanoscale level. In recent years, the use of silver nanomaterials has attracted worldwide attention thanks to their wide range of applications as catalysts in several environmental processes including the degradation of organic pollutants and medicinal biotechnology. This study reports the synthesis of silver nanoparticles (AgNPs) through different methods including the biogenic methods based on leaf extract of Conocarpus erectus and a bacterial strain Pseudomonas sp. as well as chemically based abiotic method and comparison of their dye degradation potential. The synthesis of AgNPs in all samples was confirmed by UV-visible spectroscopy peaks at 418-420 nm. Using scanning electrom microscopy (SEM), Fourier transform infrared spectroscopy (FT-IR), X-ray differaction (XRD), and X-ray photoelectron spectroscopy (XPS), the biologically synthesized AgNPs were characterized as spherical shape of material with capping proteins that were involved in the stabilization of nanoparticles (NPs). The biologically synthesized AgNPs showed higher degradation (< 90%) of dyes as compared to chemically synthesized NPs. A prominent reduction of total dissolved solids (TDS), electrical conductivity (EC), pH, and chemical oxygen demand (COD) in textile wastewater spiked with reactive black 5 and reactive red 120 was observed by biologically synthesized AgNPs. AgNPs synthesized by Conocarpus erectus and Pseudomonas sp. also showed better characteristic anticancer and antidiabetic activities as compared to chemically synthesized ones. The results of this study suggested that C. erectus and Pseudomonas sp. based AgNPs can be exploited as an eco-friendly and cost-efficient materials to treat the wastewater and potential other polluted environments as well as to serve the medicinal field.