Topic: Is it safe to keep your money in bank? - page 10. (Read 2432 times)

Your piece touches on finance 101 – the push and pull between bank safety and diversified portfolio gains. However, you're leaving out some vital factors. Consider the world economic climate. Rough tides can make 'safe' investments like bonds and stocks unpredictable. The crypto market? It's a roller coaster with its short track record.

Your financial standing also holds sway. A person under a mountain of debt can't gamble like someone sitting on a cash pile. Not to mention, the legal angle! Rules for crypto investments swing wildly worldwide - some nations welcome them, others slam the door. So, its more than just personal finance targets and risk comfort. A broad spectrum of factors steer your finance strategy decisions.

Exactly and in crypto there are so many scammers that they also have many ways to commit fraud,
there have been many cases of successful crypto wallets being hacked and of course this has become a concern,
even so saving money in the bank I think is just a waste of time.

There are no guarantees that these platforms are a safe alternatives when it comes to storing our money unless we hold it ourselves and place the risks on our hands. Banks are not any safe either even if we say that they are already reputable and century old because at any given time, these banks are vulnerable and that comes with a price that includes our funds stored in their banks. Furthermore, when it comes to risks, it's much better to invest it so that we can create another source of income rather than storing it in a bank where inflation rate is much higher compared to their interests.

If you will compare about risk, definitely bank is lower risk than crypto investment. Because banks have regulatory board by the central bank so they can provide safety with your money but crypto is high risky for several things as like if you will keep your money in crypto here your wallet can be hacked or you can lost in trading also here is chances to big profits in short term.

If someone is interested on the yield or the interest, then I would that say the best option would not be to deposit in the bank but instead get that money on treasury bonds, to take advantage of the government of the United States needing to borrow money to keep their things together.

Actually, now that the debt ceiling is going to be raised without problem those seeking for yield within the American debt system, in theory do not have much to be afraid. Referring to a default.

Yes. Crypto is perfectly good investment. But the golden rule of investment is that you don't put all of your eggs in the same basked.
With possibilities, crypto comes with risks. Risks are everywhere and so are opportunities. The best way to manage your finance is to diversify your investment.
Modern banks in most of the jurisdiction has to go through regular audit and keep their finances diverse and within the regulatory limit. Saving on a bank is not a risk in most of the jurisdiction, there might be a hassle to get your money on time when things are not going well, but I don't think there is a situation where a depositor on a bank has lost his money. Investing again is risky.

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

Personally, i don’t feel 100% secured to keep my money in the banks because you know bank also can be bankrupt, so that i can't believe it. Even i faced some issues in my country banks, i can't cash my money on time. But i think there are no 100% safe way to keep money in online or offline.

Actually there is nothing too dangerous when we want to save money in the bank, because so far we think there is no risk that is too big where our savings will be lost, we can say that now the bank is still used as a place to store money because most people save their assets here. and to be honest, those of us who save in Cryptocurrency keep on depositing funds at the bank.

What if the bank you are keeping your money with goes bankrupt? Now we can't say that it is not possible because we have seen that happening and when that happens, almost everyone who had their money stored in the bank will get nothing bank if they can't manage to stand up on their feet once again after getting bankrupt, in such a scenario, someone will surely say that banks aren't good stores for your wealth.

Yes, I do understand that there aren't a lot of possibilities for that to happen and your money is generally safe with the bank and is insured if something bad happens like a robbery or a natural disaster like a fire that burns away the money they keep, but there is basically also some risks in keeping your money with a bank.

Of course people keep a lot of money inside the bank just thinking that their capital is completely safe in the bank. Banks keep going bankrupt. In the region where we live, there is more fear of bankruptcy of our country than the bank. The money lying in the bank can be confiscated by the government at any time, and you may face difficulties in withdrawing your money. In the region we live in, our economy is declining day by day due to which the money lying in the bank is getting devalued.

My own opinion is that most of your capital should be invested in Bitcoin, but keep in mind that you should invest in Bitcoin that you may not need in the near future. This capital will be under your control and you can cash it whenever you want, wherever you want.

OP created this thread to promote his exchange which has this name: FMCPAY_GLOBAL, he has an ann thread here on the forum and instead of adopting the more orthodox means of advertising that has been used on this forum, which are subscription campaigns, he stays creating threads of this type with the intention of capturing people's attention, he knows very well that banks are 10000x better and safer than exchanges, it doesn't even make sense to compare a bank with an exchange, just look that a bank has a license, and constantly supervised by the central bank, a bank has physical headquarters where people can go to complain, when the person dies and there is money in the bank, the bank manager calls the relative or the relatives can withdraw all the money from the bank

Now what's on the exchanges? anything! exchange owners are anonymous people in most cases, exchanges do not have physical headquarters, exchanges do not have a license, exchanges are not supervised, exchanges are most often targets of hackers, if a person dies while he has the money on the exchange, no other relative will know that this person had money on the exchange, so the money will be lost on the exchange, so on the exchange, the only advantage you have is just trading, there is no other advantage. and even then, it is recommended that people who do day trades withdraw their money at the end of each trade

Putting money in the bank depends on the trust of each person, others put money in the bank because of course they have confidence and think it is safer. But if a country is going through severe inflation, I just think it's a bit hesitant to put money in the bank.

Because we know that when inflation is high, many banks close because of that, and in our current time, I would prefer to convert my money to bitcoin because I'm sure I will benefit a lot after a few years, as long as you know if what you do with Bitcoin you believe.

I think we don't need to worry about the safety of our money in the bank, if we use the bank account safely then of course your money will also be safe,
it's usually our own fault, for example maybe when you go and your wallet falls and then your bank card it was taken by someone and you didn't realize it,
or maybe you saved it in myetherwallet and your private key you accidentally shared with other people. yes that's why everything to ourselves.

some of your points are true, but honestly it's all come down again with the diversification of an asset, just diversify in many investment instruments like real estate, gold and many more and you'll be set.
there's certainly reason why so many rich people are preferring to have some unliquidated asset like in stocks and many more, because that way they don't create single point failure where if their investment suddenly gone they didn't go homeless.
even though sometimes bank could become bankrupt, at least government helps them to keep standing, that's have occurred quite frequently and it gives chance for the bank clients to withdraw their money at the meantime to save themselves from the bankruptcy which is quite good enough honestly.

Everything related to cash savings at all times is associated with risks. Even now, there is no one hundred percent guarantee of preservation. According to the banking system, of course, Swiss is internationally recognized. But here, too, there may be different nuances. For example, sanctions. Even on a crypto wallet with cold storage, and that is the likelihood of theft.

I agree with you on that, centralised exchanges is no different from bank, even banks is more secured because they are backed by the country authorises and central bank of the country, if anything happens to your money, they can hold the banks accountable unlike centralised exchanges that can disappear

Yes, keeping money in a bank is generally safe cause they are regulated by government authorities and have measures in place to protect your deposits. Banks provide more security, insurance, and safeguards against theft or loss, making it a reliable place to keep your money unlike most places.

What you mentioned is actually correct that some time banks have take away our financial independence. In this case, you can put the bank withdrawal restriction in it. Even then I think we should take it in a positive way because some time if your bank account was hacked or access by some else then Then the person will not be able to withdraw large amount of money due to those processes and I think it is good for the security of the account holder. That doesn't mean I'm telling you to just keep your money in the bank I also agree that the we should far away from those banks system to secure ours assets .

Bank is somehow safe depends on how you see it and what kind of financial knowledge you have but there are many bank restrictions that can make us feel unsafe with out money. One example is this is the strict requirements to withdraw a big amount of funds. I've experienced it and it put me in a ver hassle spot in passing the requirements and the bank almost won't make me withdraw my own money. There are also issues like bankruptcy which is common these days. Goverment want to make us think that banks are super safe but actually there are things that people should consider in putting money in banks. Today, almost half of my assets is in crypto snd some are in physical assets and only a little on the bank. I won't take a very hassle scenario again with banks. Also, I don't trust banks.