Is it safe to keep your money in bank? - page 12.

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Quote from: m2017 on April 27, 2023, 11:48:47 AM

Quote from: Mr.sprin on April 27, 2023, 11:34:06 AM

The bank is a place to save money, not a place to invest. I keep money in the bank because I believe keeping money in the bank is a safe place. I get profit every month from bank interest yield, but for investment, I believe in crypto world after I invest in crypto world. profits from the results of my investment save again in the bank.

A bank is a place where bankers earn on people like you. I've always disliked the idea of someone making money out of me, while giving away only a pitiful crumb from this feast, and getting the whole pie themselves.

Accumulating money in the bank is a big stupidity, because what are you accumulating like that? Inflation? Interest rates are ridiculous in any banks and it is impossible to perceive this as an opportunity to save up. In general, money is very badly suited for accumulation and it is better to accumulate wealth in a different form.

Relly, is it safe? But what about the bankers who robbed their clients and ran away with their money?

Talking about whether or not it is safe to keep money in a bank is clear the answer is safe, why do you only see one bank that was robbed and took away customer money, isn't there a country that has solved that to what extent they have run away, the state will still look for it, but keep the money in the bank is the right decision, talking investment is clearly more profitable in crypto.

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Quote from: naikturun on April 27, 2023, 10:49:13 AM

no one guarantees that saving your money in a bank is safe, but most people in this world save money in a bank because it is a habit for people to keep money in a bank, in fact besides banks there are many other options such as gold, silver or commodities other.

The government gives you guarantee. It's very wrong to call that if there was no guarantee for your money when you stored in the bank. Im storing mostly of my money in bank. Here's the main concern. When you were storing your money in crypto and it was being stolen and none will able to help you. When someone was stealing your money in the bank and you can make a report to the police and it will able to catch the robber of your money. I think that this is really hard to deny.

smile1218

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Saving money in a bank for me it is safe. I had been saving some of my money in a bank fore more than a decade now so far i have no problem in it my savings are still intact. There are also risk involve in saving in a bank, like for example you had registered in an online banking or you had bind your savings account with online shopping just be careful because a lot of phishing link via text, email, social media that once you click they will get your information and they can access your account and can get all your money in the bank without you even knowing. Do not share any OTP to anyone as well because they might change the access on your bank account.

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If it is large amounts of fiat money, banks can be safer than anywhere else or leaving them at home. Still for me, I do not prefer banks because central authorities control them, so there is no 100% security; so by converting fiat money into cryptocurrencies, I can hold them in a hardware wallet away from the exchanges so that I can guarantee the safety and security of my currencies. I can make profits from the volatility of cryptocurrencies prices, unlike fiat or a large part of the stable currencies can be held in the hardware wallet, so for me, this is the solution that I follow, which made me the main controller of my money without the control of another party.

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Quote from: Wiwo on April 27, 2023, 02:19:31 PM

Keeping your money in the bank is like stocking at the bus stop, just like I have told many people who have sought my views and advice on similar topics, banks are bus stops we use our money to move from one place to another.

So bank can't be taken as a destination since with a bank you are not in control of your money and also you are vulnerable to various forms of bank injustice and inflation.

So of you are looking for the best asset safety place you should look for decentralized assets that give you total control of your money and Bitcoin is one of such assets.

I did find your logic very interesting. We really can't blame some people because they are used to the system and totally convinced that the bank is the only means of keeping their money safe. But since some of us here have gained the knowledge that it's not so, we should be extending that idea to some people outside the forum who are still in the state or have a false belief that they can't do without keeping their money in the bank.

You know what even surprises me most of the time is that some people would leave a huge amount of money in the bank for up to seven months and sometimes even more than two years mean while, there were assets they could invest in, like Bitcoin. Some months back, I read an article that was uploaded by a member on this forum about a young girl who lost a huge amount of money in her bank account to scammers, which happened to be her entire life savings. The truth was that the bank said the money is gone and they can't help her, so even the bank that people think is so safe to keep their money is not really safe. I keep some fiat but not a lot of my money in the bank for no apparent reason.

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Quote from: eightdots on April 27, 2023, 03:34:26 PM

It may be risky in private banks, but they attract customers with advantageous campaigns. Choosing state banks may be less risky than a private bank. We all know that nothing is guaranteed, even if the risk is small. Let's say we didn't choose banks. There are two options that come to my mind. One is bitcoin, the other is physically storing it. It's a completely optional decision. For now I prefer state banks and bitcoin.

I think all savings will be related to the bank even though we have assets in crypto investment, I just choose a state bank over a private bank even though there is no guarantee that you can trust the bank completely, many cases of state banks have been abused by staff to steal customer savings for gambling and shopping. So we have to routinely review balances in bank accounts and if suspicious transactions are found, report them immediately to the bank for investigation.

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Quote from: m2017 on April 27, 2023, 11:48:47 AM

Quote from: Mr.sprin on April 27, 2023, 11:34:06 AM

The bank is a place to save money, not a place to invest. I keep money in the bank because I believe keeping money in the bank is a safe place. I get profit every month from bank interest yield, but for investment, I believe in crypto world after I invest in crypto world. profits from the results of my investment save again in the bank.

A bank is a place where bankers earn on people like you. I've always disliked the idea of someone making money out of me, while giving away only a pitiful crumb from this feast, and getting the whole pie themselves.

Accumulating money in the bank is a big stupidity, because what are you accumulating like that? Inflation? Interest rates are ridiculous in any banks and it is impossible to perceive this as an opportunity to save up. In general, money is very badly suited for accumulation and it is better to accumulate wealth in a different form.

Relly, is it safe? But what about the bankers who robbed their clients and ran away with their money?

If you do have that kind of impression and mindset then you would really be hating on why banks do exist but this is where reality do circles around and even on how we do hate up these institutions but there's no way for them to cease to exist. If you are an individual who does hate banks then you wouldnt really be saving up some fiat money into these but we cant really deny that when it comes to security of our funds the bank storage is something we do mainly consider rather than on saving up your fiat into your own house. Other ways would be making out some investment.

Just like mine on which i dont save up money much on my bank which 80% of those funds are really been put up on investment or any other ventures which it could really give some other profits
which it would be cycled and would be repeated to be used once i do accumulate enough. 20% of those fiat would really be just reserve for emergencies because we know that we cant really be
having be able to pull off those funds anytime if there are some emergencies that do happen.

eightdots

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It may be risky in private banks, but they attract customers with advantageous campaigns. Choosing state banks may be less risky than a private bank. We all know that nothing is guaranteed, even if the risk is small. Let's say we didn't choose banks. There are two options that come to my mind. One is bitcoin, the other is physically storing it. It's a completely optional decision. For now I prefer state banks and bitcoin.

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Keeping your money in the bank is like stocking at the bus stop, just like I have told many people who have sought my views and advice on similar topics, banks are bus stops we use our money to move from one place to another.

So bank can't be taken as a destination since with a bank you are not in control of your money and also you are vulnerable to various forms of bank injustice and inflation.

So of you are looking for the best asset safety place you should look for decentralized assets that give you total control of your money and Bitcoin is one of such assets.

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Quote from: Mr.sprin on April 27, 2023, 11:34:06 AM

The bank is a place to save money, not a place to invest.

Correct. It's a storage where we can keep our cash but that shouldn't stay there for long.

Quote from: Mr.sprin on April 27, 2023, 11:34:06 AM

I keep money in the bank because I believe keeping money in the bank is a safe place. I get profit every month from bank interest yield, but for investment, I believe in crypto world after I invest in crypto world. profits from the results of my investment save again in the bank.

How much you're earning from their interest? They're too low compared to if you go with it on the market but then, the risk is lower, and almost got no risk at all by keeping it there. And if this strategy works for you perfectly, there's no need for you to change it.

m2017

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Quote from: Mr.sprin on April 27, 2023, 11:34:06 AM

The bank is a place to save money, not a place to invest. I keep money in the bank because I believe keeping money in the bank is a safe place. I get profit every month from bank interest yield, but for investment, I believe in crypto world after I invest in crypto world. profits from the results of my investment save again in the bank.

A bank is a place where bankers earn on people like you. I've always disliked the idea of someone making money out of me, while giving away only a pitiful crumb from this feast, and getting the whole pie themselves.

Accumulating money in the bank is a big stupidity, because what are you accumulating like that? Inflation? Interest rates are ridiculous in any banks and it is impossible to perceive this as an opportunity to save up. In general, money is very badly suited for accumulation and it is better to accumulate wealth in a different form.

Relly, is it safe? But what about the bankers who robbed their clients and ran away with their money?

Mr.sprin

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The bank is a place to save money, not a place to invest. I keep money in the bank because I believe keeping money in the bank is a safe place. I get profit every month from bank interest yield, but for investment, I believe in crypto world after I invest in crypto world. profits from the results of my investment save again in the bank.

naikturun

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no one guarantees that saving your money in a bank is safe, but most people in this world save money in a bank because it is a habit for people to keep money in a bank, in fact besides banks there are many other options such as gold, silver or commodities other.

glendall

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there is no safe place to keep money even in your own home,
however if depositing money in the bank there is little guarantee if our money is lost by bank error and they can trace it most likely back,

Godday

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When it comes to security, centralization is safer than decentralization. At the Bank your money is safer because they use a centralized system where they control all incoming money. If there is news about bankrupt banks, very, very little. Many banks also have deposit insurance institutions. If we talk about decentralization, we are talking about where the system does not control the money, but the owners control their own money. In my opinion it is quite risky especially with low knowledge about digital security.

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Generally, keeping your money in a bank account is safe, as most banks are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposit accounts up to $250,000 per owner, per bank, and per account category. However, if you have more than $250,000 in deposit accounts, it is recommended to deposit it in different account categories or to open accounts with different banks to protect your money. While there is no guarantee that a bank will never fail, the FDIC will ensure that depositors get their money back if a bank fails

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If you are asking as where to keep assets better in a bank or in your own computer desktop wallets or hardware wallets the answer is simple,you should always keep your assets with you while you have full power over them,as they say "your keys,your coins" and "not your your keys not your coins".We can make an analogy even with FIAT money,you can keep them in a safe in your home and it is called "your keys,your coins" while the bank no matter how trustworthy they are,they are still a third party and the "not your keys,not your coins" apply here,so I am never pro keeping money in the bank.The bank should just be used so you can receive the money when you exchange coins.

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Quote from: bittick on April 20, 2023, 07:57:36 AM

even bank can collapse but the rate of it collapsing compared to you losing your money under your bed is definitely far lower, i'd say bank are in general still the safest option of saving your money, you retain the value and there's also some guarantee from the government themselves that gonna bail them if they are in the brink of collapse, i'd say even best traders out there still save their money in bank generally.

The collapse of a bank is not the only way people can lose the money on their accounts, they can get hacked, their credentials can be stolen, their credit or debit cards can be cloned, and while in theory the bank should be able to give you your money back and set things straight, this is not always the case and you could lose the savings of all your life in a matter of seconds.

For this reason it is important to always remain vigilant and take care of our financial information as we do not want any of the scenarios above to happen to us.

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even bank can collapse but the rate of it collapsing compared to you losing your money under your bed is definitely far lower, i'd say bank are in general still the safest option of saving your money, you retain the value and there's also some guarantee from the government themselves that gonna bail them if they are in the brink of collapse, i'd say even best traders out there still save their money in bank generally.

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Lately am seriously having second thoughts about putting a good amount of money in the bank. Recently a close friend got her bank account locked up without any prior notice over a slight issue regarding her date of birth, a mistake that was the fault of another bank. Now she can not access her account and her funds until that issue has been resolved which means she has no access to her funds even in an emergency.
My opinion now is to put what you have to spend on daily upkeep and store your most funds in crypto, this way there won't be an unexpected surprise.

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