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.
Topic: Is it safe to keep your money in bank? - page 4. (Read 2573 times)
Keeping your fiat in banks is not at an immediate risk. Although I don't like the federal reserve structure, banking will be fine at least the amount that is federally insured by the fdic. That might change as our economy changes and fiscal policies change but as of now it's fine. A move into crypto is a great hedge though.
I think this depends on your country. If you live in a country with high inflation value, keeping your money in bank make it lose value. I will rather invest it in BTC or the top altcoin than keeping it in bank.
Sure it is very safe for one to keep his money in the bank don't know about other countries but in mine nobody has ever lost his money through any bank . Though as a result of technology many people now store their funds in Web especially the youths where most are also in cryptocurrency . Think that is the only reason why people have reduced storing their money in bank not because of the safety because banks will forever be the safest place for one to keep his Funds and other assets.
I see that the majority of people who are around 50 years old and above no longer want to take risks and minimize all possible risks that occur in this case trading in crypto even though they already understand and even if they already have a lot of money they will no longer buy assets that fluctuate and are more choose to buy gold rather than save it in the bank.
They usually only save money as emergency cash reserves to send to their children's education.
They usually only save money as emergency cash reserves to send to their children's education.
The major problem to this situation is not because they are scared of volatility of the market, but because of several scams they have encountered. Crypto being one of the major targets for scammers/ hacker is just something that look too risky for them to put in their money. Though you are right if we consider their age and their rise in BP based on the volatility of the market. But we still have some aged person who believes in crypto and understand how the market works, so such person aren't gonna get such sickness. However when once someone is becoming aged I recommend he buys only Bitcoin to reduce his.
Keeping money in the bank is not a good Idea because the money will definitely lose value, instead of money should be placed in the bank one should think of how the money can be invested to yield more money. Increasing financially is not about saving money but it is by investing the money to add more value. Before going into any investment, proper research needs to be made for one to be at the right track of not getting into the wrong investment.
I see that the majority of people who are around 50 years old and above no longer want to take risks and minimize all possible risks that occur in this case trading in crypto even though they already understand and even if they already have a lot of money they will no longer buy assets that fluctuate and are more choose to buy gold rather than save it in the bank.
They usually only save money as emergency cash reserves to send to their children's education.
Keeping money in the bank is indeed safe, but just that inflation might strike anytime. I have some experience in keeping all money in the bank before I came into the crypto network. And my experience wasn't far from good because they are intermediaries and your money is not fully anonymous. So I prefer keeping majority of my saving in Bitcoin while the remaining one in my bank, is for emergency fund, should Incase anything happens unexpectedly, I have some were to return to rather than disturbing my holding.
There are many supports for your idea because in a capitalist market, asset insurance is a productive sector and it is the system that the state uses to impose its control over the internal financial system. Banks are an essential part of the global system for managing the movement and volume of money. Currently, banks are one of the best ways to deal with fiat money.
Nowhere is 100% safe no matter where you keep your money. Recently, there has been a lot of discussion about whether people should keep their capital reserved with banks. I also see various people withdrawing money and transferring it to cash. But I think keeping money in bank is safe. Although there are several cases of depositing money in the bank and not getting the money back. Of course we have to choose the right bank to keep the money. As a customer, while depositing money, I can keep an eye on the bank's board of directors. I think that the clearer the bank's board of directors, the safer the bank.
It is very correct to say that there is no safe place to put money anywhere, including in the bank. Even traditional storage is also vulnerable to losing your money. Likewise at the bank, although it has not disappeared completely. The bank also applies service fees and interest every month. Even if it's a little, over time your money in the bank will be used up by these fees.
Nowhere is 100% safe no matter where you keep your money. Recently, there has been a lot of discussion about whether people should keep their capital reserved with banks. I also see various people withdrawing money and transferring it to cash. But I think keeping money in bank is safe. Although there are several cases of depositing money in the bank and not getting the money back. Of course we have to choose the right bank to keep the money. As a customer, while depositing money, I can keep an eye on the bank's board of directors. I think that the clearer the bank's board of directors, the safer the bank.
I have no experience about how safe it is to keep money in a bank because I have never deposited money in a bank yet. But I think people who have experience with crypto currency will invest in different coins instead of keeping money in the bank. As far as I know there may be no profit if people keep money in bank but if people invest that money in cryptocurrency in right coin then they will get better profit.
The present economy doesn't support or encourage keeping money in bank. It's highly better for one to invest his/her money than keeping them in bank. Bank charges will keep reducing this money and also this money will continue to lose its value as inflation increases.
I think absolutely because bank are connected to government and if you you have any problems they are solved and that thing I suggested that bank is safe because if you set your money in the bank any coming problem like hack etc bank are responsible.
Keeping money in the bank is indeed safe, but just that inflation might strike anytime. I have some experience in keeping all money in the bank before I came into the crypto network. And my experience wasn't far from good because they are intermediaries and your money is not fully anonymous. So I prefer keeping majority of my saving in Bitcoin while the remaining one in my bank, is for emergency fund, should Incase anything happens unexpectedly, I have some were to return to rather than disturbing my holding.
The main reason why most bitcoin enthusiast still involve in keeping fiat is because we still need fiat to buy things needed for our daily life, even if we have supermarket that accepts crypto or bitcoin as a means of payment it must not be all, bitcoin is important for storing wealth and people should learn to hold bitcoin for future purpose and not fiat with zero value, it's said a lot of people hold bitcoin cause of the volatility nature and comparing it with fiat makes no sense.
Bitcoin has been a hedge against inflation and has helped people in terms of investment, have seen alot of business people who store their money using the banking system(fiat) and sometimes I think if they're ignorant or they still trust the modern banking system. In summary people should learn to have a valuable asset like bitcoin.
Bitcoin has been a hedge against inflation and has helped people in terms of investment, have seen alot of business people who store their money using the banking system(fiat) and sometimes I think if they're ignorant or they still trust the modern banking system. In summary people should learn to have a valuable asset like bitcoin.
If I say about the bank whether your money is safe in the bank or not, then of course your money is safe in the bank and you can easily keep it there and use it, but If your money are in digital wallet.
it is in risk because can be hacked anytime in the wallet at any time and anything can happen to it, but if anything else happens to your money in the bank, then the bank will tell you. They will give your money, so it is safe to keep money in the bank.
it is in risk because can be hacked anytime in the wallet at any time and anything can happen to it, but if anything else happens to your money in the bank, then the bank will tell you. They will give your money, so it is safe to keep money in the bank.
I have no experience about how safe it is to keep money in a bank because I have never deposited money in a bank yet. But I think people who have experience with crypto currency will invest in different coins instead of keeping money in the bank. As far as I know there may be no profit if people keep money in bank but if people invest that money in cryptocurrency in right coin then they will get better profit.
The present economy doesn't support or encourage keeping money in bank. It's highly better for one to invest his/her money than keeping them in bank. Bank charges will keep reducing this money and also this money will continue to lose its value as inflation increases.
In my country, banks still have a good reputation, even if they close because the same branch has a crowded scope.
In foreign countries I was surprised by banks that went bankrupt and there were also banks that were fine and added a variety of services with crypto sales, it was a new color but it was not a guarantee of security. I distinguish crypto for investment and fiat for the necessities of life, although many people focus on investment but I also really need fiat for monthly bills and daily meals because around me still rarely use crypto as a means of payment, only a handful of people who become activists have a business that may be the goods I need, although most of the goods are not consumptive daily.
=========
Hopefully, sad events in banks like this can be minimized, and eliminate the bad image of the bank's reputation, because before there was a sloping case the bank had a good reputation.
In foreign countries I was surprised by banks that went bankrupt and there were also banks that were fine and added a variety of services with crypto sales, it was a new color but it was not a guarantee of security. I distinguish crypto for investment and fiat for the necessities of life, although many people focus on investment but I also really need fiat for monthly bills and daily meals because around me still rarely use crypto as a means of payment, only a handful of people who become activists have a business that may be the goods I need, although most of the goods are not consumptive daily.
=========
Hopefully, sad events in banks like this can be minimized, and eliminate the bad image of the bank's reputation, because before there was a sloping case the bank had a good reputation.
I have no experience about how safe it is to keep money in a bank because I have never deposited money in a bank yet. But I think people who have experience with crypto currency will invest in different coins instead of keeping money in the bank. As far as I know there may be no profit if people keep money in bank but if people invest that money in cryptocurrency in right coin then they will get better profit.
In a normal circumstances keeping money in the bank is a waste of time and I know quite well that their is no a business man or a business woman that will stock it's money in the bank without investing it to a place it will yield another money, its better for you to invest your money than dumping your in the bank and after some years they will be a deduction, therefore I will encourage people to invest their money instead of keeping it on the bank and it will not yield anything positive..the thing is that, its hard and difficult to see a investment that can propagate well, so investment of money can be something of negative or positive, but in all its good to invest of keeping in the bank and bank manager will use your money for foreign trade.
Keeping money in the bank is not a good Idea because the money will definitely lose value, instead of money should be placed in the bank one should think of how the money can be invested to yield more money. Increasing financially is not about saving money but it is by investing the money to add more value. Before going into any investment, proper research needs to be made for one to be at the right track of not getting into the wrong investment.
The rules in my country may be different from yours, as if you deposit money in a bank in my country then they will give you written documents proving that you can withdraw the money at any time. The chances of you losing money in the bank are less and the dividends will be higher. Banks on the other hand don't make much profit which is why investors tend to expand most of the money business and there may be crypto. However not all banks are reputable so you will not get adequate security from all banks.
I think almost all countries have almost the same rules. the simplest when you save money in the bank will get a passbook as proof of ownership and as proof that you are a customer in the bank. this simplest rule almost all countries must have the same rules. obviously banks are not a good place for investment because the return is definitely below the inflation rate in your country.
Keeping money in the bank is still the best. because it is easy to take and easy to use offline transactions. and of course keeping money in the bank. your money is guaranteed by the financial authorities in your country.
when you want to use crypto you have to first cash out to fiat and definitely go through the process to the bank. if you want to use buy for offline you have to cash out first to fiat. not flexible and besides no one guarantees when the coin is anything like a scam.
when you want to use crypto you have to first cash out to fiat and definitely go through the process to the bank. if you want to use buy for offline you have to cash out first to fiat. not flexible and besides no one guarantees when the coin is anything like a scam.
Jump to: