Topic: Is it safe to keep your money in bank? - page 11. (Read 2573 times)

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.

Keeping money in the bank is arguably safe. Banks can guarantee the safety of our money stored there. But sometimes saving at the bank also backfires. There are banks that go bankrupt and cause our money to be lost. So saving money in the bank should also be careful. We must choose a good and trusted bank.

I think so it is safe to keep money in a bank. As banks are regulated by government agencies and are required to follow strict rules and regulations to ensure the safety of their customer's money. Most banks are insured by FDIC which means if a bank faces a bankruptcy the deposits of the depositors are protected at a certain amount. Remember that no investment is completely risk - free. Banks can also fail. Make sure if you will keep your money in a bank deposit to a reputable bank with a strong financial standing. Money in a bank can generally considered safe and secure option for most people.

At the moments bank deposit now not safe and our country now so many banks already changed thire old rules and make new rults for every bank account holder it’s very hassle for us.

You make some interesting points about the advantages of crypto over banks, but you also ignore some of the drawbacks and challenges of crypto. For example, you don’t mention the volatility, complexity, regulation and adoption issues of crypto. You also don’t explain how FMCPAY Exchange is different from other crypto exchanges or why it is more secure and trustworthy.

for investment it's better for us to buy crypto currency or real estate, because the profit can be more than keeping it in the Bank,
and talking about security I agree with you that the Bank doesn't need to talk about the level of security anymore,
what is clear is that the Bank will always be safe for you save money.

Basically a bank is where we give money to people who are wealthier. When talking about security I believe the bank is safe. But when talking about privacy and profit then investment is the best way. I prefer to save my money in investment instruments rather than conventional banks.

Banks were created to save money but why do you say it's not safe?.
I myself have also kept my money in the bank for years and it's been safe, I can't imagine how insecure it is? .
I know for sure you know a good bank in your country, and there must be a lot of customers do they complain about insecurity?.

in my opinion there is no safe place to keep our money, it's just that the risks are different, so if you keep your money in a bank it's not safe but the risk is very small for your money to be lost compared to investing in cryptocurrency, but your money can't increase if you save money in the bank (bank interest is lower than inflation), so I agree with you if we should not keep our money in just one place.

Banks naturally ensure the safety of money. Generally people try to keep their hard-earned money safe. However, the situation of SVB Bank in recent times has taught people to rethink about depositing money on bank. Recently people interested in investing than saving money. Besides, I don't want to worry about keeping my money with someone else. I think investing properly is safer than saving money in the bank. However, nowadays conscious citizens accept the banking system only for the convenience of withdrawing and disbursing money. People are now gradually encouraged to invest in crypto rather than saving money in the bank.

Even with the so called bank trust or insurance some time we can still get ditched by the bank, such that in the case of a bankruptcy and other financial crisis that could hit the bank at any time.

We have hard cases where banks seize depositors' money without any insurance covering the losses and this is what has affected people's trust in banks lately.

So decentralized asset management is the best form of financial management, and storing your money in assets such as gold and Bitcoin is the best form of saving since you will have the possibility of earning interest on your money.

Because what happens here is that the banks keep your money and give you assurance of money back to whatever happens to them. They give you a certain percentage of storing your money but not mentioning where there use that money until such time leaks come out that the banks use our money to generate more income while giving us depositors cents, and it opened up our minds.
But despite this thing, banks can be trusted but at this time, saving is not the best option rather make a decision to invest as this is a great option when thinking about growing our money.