Topic: Is it safe to keep your money in bank? - page 2. (Read 2329 times)
Keeping money in the bank is safe in some aspects and very risky in some aspects. as each country's bank is under the control of a central bank, so there is less chance of losing the deposit here. But if we look at the inflection, we can see that there is a big inflection every year and because of this, if I deposit money in the bank, the value of that money decreases day by day, in this case it is a risk for us. So we would be better if we invest the money in a potential asset like real estate, gold, land, bitcoin etc. or it would be better to convert it to dollars to keep the money stable. Because the dollar cannot be touched by inflation
It is safe to keep your money in banks. But only if it is a real bank and not a small bank that is not around for many years. But for me I do not like to keep my money in banks.
I am not worried about the bank having my money going to get robbed or something like that. But just having my money and not going to a bank makes me feel more secure with my money.
I am not worried about the bank having my money going to get robbed or something like that. But just having my money and not going to a bank makes me feel more secure with my money.
Not entirely because banks doesn't need to give back the deposits completely if they go bankrupt and they don't give any kind of financial compensation if your locker stolen in anyway or destroyed in natural calamities. That you obviously knew if you read what you signed while opening your bank account.
But I don't understand those of you who say banks don't have to return all deposits if the money is stolen or damaged. I mean don't we have it saved in our account and we can access it/withdraw it anytime and anywhere? Unless the entire bank is closed due to bankruptcy or a natural disaster that destroys all branches of the bank. But I think it's impossible for that to happen.
If it goes bankrupt, several banks have gone bankrupt, but in my country there is a regulation that all customer money must be insured with a deposit insurance agency. Not all banks have that standard. But the big banks in my country have a kind of insurance that means your money will be safe even if the bank goes bankrupt or is damaged due to natural disasters.
As I said incase of bankruptcy they don't need to return your entire deposits at all or that's how it works in my country.
Let's say someone has 1 million dollar cash in their bank and the bank shuts down their operation due to bankruptcy then they bank may return that money they insure which is not always the complete value but the minimum value like the insurer will pay up to 100K for everyone but anything beyond if something that we have to burden as loss.
The commercial banks have done a good job keeping people's money safe for ages, and now there's something better. It doesn't just store your wealth but gives you interest over time for keeping your wealth. Cryptocurrency is where most people store their wealth nowadays but it doesn't change the fact that the banking institution did and is probably still doing a great job keeping money.
Commercial banks are a good place to keep your money but isn't the best place. Considering how the value of one's income reduces over time there. Apart from that reason .. the banks are a safe place to keep your money.
Commercial banks are a good place to keep your money but isn't the best place. Considering how the value of one's income reduces over time there. Apart from that reason .. the banks are a safe place to keep your money.
That's true I also think that centralise exchangers are more unsecure place for saving our money. Like if we remember the ftx incidence then we will got the things. I will say that it is better to holding your fund in bank rather than holding in centralised exchangers. But for saving our fund the best way is holding the fund in a cold or hardware wallet I mean the decentralize wallet. Where we are the owner of our own Bank. No one have control in our money.
Saving all your cryptocurrency in a non custodial wallet or hardware wallet. But we should not also skip the security part of holding your private keys by your self and keeping it safe for recovery purposes. Irrespective of the fact that non custodial wallet are better than banks or exchanges, it is still very risky especially if you are a careless type that can easily misplace your seed phrase, you'll suffer from loosing all your cryptocurrency. So we also need to be careful with keeping our seed phrase on one piece.
In my opinion, banks are an option for storing money safely. The reason is, the security system at the bank is tighter and more secure than if you keep it at home or under your pillow, and storing money in the bank can also avoid the danger of theft.
Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
Keeping hard money in the bank is safer than keeping it with yourself. Those who keep in the bank will get this benefit. But in terms of investment, I think investing in cryptocurrencies is safer than banks. People are now almost anti-banking due to some other reasons especially inflation. They try to hold Bitcoin or other coins they think the bank now holds. It is the safer crypto investment than banks that can increase your confidence.Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
Not entirely because banks doesn't need to give back the deposits completely if they go bankrupt and they don't give any kind of financial compensation if your locker stolen in anyway or destroyed in natural calamities. That you obviously knew if you read what you signed while opening your bank account.
But I don't understand those of you who say banks don't have to return all deposits if the money is stolen or damaged. I mean don't we have it saved in our account and we can access it/withdraw it anytime and anywhere? Unless the entire bank is closed due to bankruptcy or a natural disaster that destroys all branches of the bank. But I think it's impossible for that to happen.
If it goes bankrupt, several banks have gone bankrupt, but in my country there is a regulation that all customer money must be insured with a deposit insurance agency. Not all banks have that standard. But the big banks in my country have a kind of insurance that means your money will be safe even if the bank goes bankrupt or is damaged due to natural disasters.
Keeping money in the bank might be safe but it is not a good idea because leaving money in the bank for a longtime will definitely lose value. If you want money to be value I think just storing it in the bank is never a good idea. Instead of Me to keep my money in the bank and not knowing what to do with it, i will prefer to invest it in bitcoin that is reliable, this investment will be a long-term investment that will bring profit for me than keeping it in the bank.
saving money in the bank and investing in bitcoin is a good thing, but i personally prefer to keep more of my money in the bank and some in bitcoin. because after all you need stable money, which can be used as savings, investment, etc. when you invest all your money in bitcoin, it is quite risky that the value of your money will go up and down following market prices and that is not good for backing up your finances.
Keeping money in the bank might be safe but it is not a good idea because leaving money in the bank for a longtime will definitely lose value. If you want money to be value I think just storing it in the bank is never a good idea. Instead of Me to keep my money in the bank and not knowing what to do with it, i will prefer to invest it in bitcoin that is reliable, this investment will be a long-term investment that will bring profit for me than keeping it in the bank.
Well, inflation is always a problem when saving large amounts of money in the bank. That's why banks always offer a percentage that can be obtained for people who save their money there. However, in terms of security, all along, I thought keeping money in the bank was a safe thing. Because of their centralized nature, and supported by the state, banks are sometimes responsible for returning customers' lost money. This has happened several times in my country. Cases of money theft often occur in bank accounts, but when these people complain about this to the bank, the bank takes responsibility and improves its security system. Personally, I have had no problem-saving money in the bank until now. 
Banks and centralized exchange aren't place where we ought to save our money. Especially in centralized exchange, banks could be used to save just very little amount that you'll be using any time sooner and that money could last there for upto months but it's not advisable to keep you funds in a centralized exchange for even 24h due to the fact that it's the major target for hackers and they are working tirelessly to make sure they come up with solutions to crack through the exchange.
That's true I also think that centralise exchangers are more unsecure place for saving our money. Like if we remember the ftx incidence then we will got the things. I will say that it is better to holding your fund in bank rather than holding in centralised exchangers. But for saving our fund the best way is holding the fund in a cold or hardware wallet I mean the decentralize wallet. Where we are the owner of our own Bank. No one have control in our money.The more time goes by any Cex must have a notification if it collapses and requires taking emergency steps, of course users are allowed to take their assets. Keeping money in the bank has its advantages and disadvantages, including storing crypto as well. The difference is that crypto can increase dramatically when bearish comes.
Keeping money in the bank might be safe but it is not a good idea because leaving money in the bank for a longtime will definitely lose value. If you want money to be value I think just storing it in the bank is never a good idea. Instead of Me to keep my money in the bank and not knowing what to do with it, i will prefer to invest it in bitcoin that is reliable, this investment will be a long-term investment that will bring profit for me than keeping it in the bank.
Keeping money in a bank is not so bad but when we talk about the value of money then bank will not allow your money to enhance in its value so it will be better if you save your amount in something that will show an increase with the passage of time like that of investment in Bitcoin, gold and some other desire field.
We need an emergency fund but we also need a strong investment platform that can make our future bright so divide your money as some in bank and some in investment so you will neither be worried about future nor about saving for the immediate needs.
Keeping money in the bank might be safe but it is not a good idea because leaving money in the bank for a longtime will definitely lose value. If you want money to be value I think just storing it in the bank is never a good idea. Instead of Me to keep my money in the bank and not knowing what to do with it, i will prefer to invest it in bitcoin that is reliable, this investment will be a long-term investment that will bring profit for me than keeping it in the bank.
It is no longer new that the money that is kept in the banks doesn't appreciate rather it depreciates due to the changes that banks charge but apart from the money used for investment in bitcoin or anything else don't you think that the banks are the best place to keep money? Besides bitcoin isn't generally acceptable for payment in most countries if all the money you have is used for investments how wil you go with your day to day expenses? I think until fiat is totally eradicated it is impossible to survive without banks imho.
Every place has its own level of risk. Even keeping your money into your hand can causes loss in some certain scenario like you can be rob or your money can be stolen. So no matter where we are keeping or investing our money we need to learn about its risk part and create a stratgey to secure our money in case we encounters those risky part.
Banks and centralized exchange aren't place where we ought to save our money. Especially in centralized exchange, banks could be used to save just very little amount that you'll be using any time sooner and that money could last there for upto months but it's not advisable to keep you funds in a centralized exchange for even 24h due to the fact that it's the major target for hackers and they are working tirelessly to make sure they come up with solutions to crack through the exchange.
That's true I also think that centralise exchangers are more unsecure place for saving our money. Like if we remember the ftx incidence then we will got the things. I will say that it is better to holding your fund in bank rather than holding in centralised exchangers. But for saving our fund the best way is holding the fund in a cold or hardware wallet I mean the decentralize wallet. Where we are the owner of our own Bank. No one have control in our money. 
Keeping money in the bank might be safe but it is not a good idea because leaving money in the bank for a longtime will definitely lose value. If you want money to be value I think just storing it in the bank is never a good idea. Instead of Me to keep my money in the bank and not knowing what to do with it, i will prefer to invest it in bitcoin that is reliable, this investment will be a long-term investment that will bring profit for me than keeping it in the bank.
It is no longer new that the money that is kept in the banks doesn't appreciate rather it depreciates due to the changes that banks charge but apart from the money used for investment in bitcoin or anything else don't you think that the banks are the best place to keep money? Besides bitcoin isn't generally acceptable for payment in most countries if all the money you have is used for investments how wil you go with your day to day expenses? I think until fiat is totally eradicated it is impossible to survive without banks imho.
In banks or centralized exchanges, our money isn't secure because we don't personally hold the key to our funds. Entrusting our money to them means placing it in their care. A safer option is to convert it to bitcoin and store our bitcoin in a non custodial cold storage hardware wallet. This ensures it's under our personal care, safeguarding not only our wallet but also shielding it from the effects of fiat money depreciation due to inflation.
Banks and centralized exchange aren't place where we ought to save our money. Especially in centralized exchange, banks could be used to save just very little amount that you'll be using any time sooner and that money could last there for upto months but it's not advisable to keep you funds in a centralized exchange for even 24h due to the fact that it's the major target for hackers and they are working tirelessly to make sure they come up with solutions to crack through the exchange.
I'm not richman but i think bank is safe and crypto wallet safe better than bank.
In banks or centralized exchanges, our money isn't secure because we don't personally hold the key to our funds. Entrusting our money to them means placing it in their care. A safer option is to convert it to bitcoin and store our bitcoin in a non custodial cold storage hardware wallet. This ensures it's under our personal care, safeguarding not only our wallet but also shielding it from the effects of fiat money depreciation due to inflation.
In my opinion, banks are an option for storing money safely. The reason is, the security system at the bank is tighter and more secure than if you keep it at home or under your pillow, and storing money in the bank can also avoid the danger of theft.
Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
Keeping hard money in the bank is safer than keeping it with yourself. Those who keep in the bank will get this benefit. But in terms of investment, I think investing in cryptocurrencies is safer than banks. People are now almost anti-banking due to some other reasons especially inflation. They try to hold Bitcoin or other coins they think the bank now holds. It is the safer crypto investment than banks that can increase your confidence.Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
Not entirely because banks doesn't need to give back the deposits completely if they go bankrupt and they don't give any kind of financial compensation if your locker stolen in anyway or destroyed in natural calamities. That you obviously knew if you read what you signed while opening your bank account.
Investment in crypto currency is not safe as saving money in bank or in your own safe deposit because investment comes with risk which means the value of assets can either grow or fall.
In my opinion, banks are an option for storing money safely. The reason is, the security system at the bank is tighter and more secure than if you keep it at home or under your pillow, and storing money in the bank can also avoid the danger of theft.
Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
Keeping hard money in the bank is safer than keeping it with yourself. Those who keep in the bank will get this benefit. But in terms of investment, I think investing in cryptocurrencies is safer than banks. People are now almost anti-banking due to some other reasons especially inflation. They try to hold Bitcoin or other coins they think the bank now holds. It is the safer crypto investment than banks that can increase your confidence. Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
In my opinion, banks are an option for storing money safely. The reason is, the security system at the bank is tighter and more secure than if you keep it at home or under your pillow, and storing money in the bank can also avoid the danger of theft.
Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
Here I am agreed with you but still we have to keep in mind keeping money in bank is not good for the every country with things are taking quick changes, and we are also facing many issues in developing countries like freezing money and bank is going to be shutting down without paying money back to customers these options are also now having trouble for the millions in many countries then mostly peoples have no options, or they face too many troubles as well like we have in our country too many banks gone without paying and many peoples died due to having not suitable backup.Since the question is about keeping money safe, and not for investments or anything like that, I think banks are still a good choice for storing your money.
And if the goal is to invest, I think Bitcoin, ethereum, and some altcoins where you think your money will work and grow are a good way to go.
But still as things are going into developed countries and many other those have strict rules it's not bad at all but still we need to keep eyes on all around for the latest updates and other relative things as well.
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