It is safe to keep your money in bank but banks are getting more money by using your money to lend it to others or to those people who loan in the bank. That's my opinion in why it is safe to keep your money in bank. Some people would say that it is not safe to keep your money in bank compared to keeping it safe yourself. If you have a vault then I recommend using it rather than keeping it in bank although I said that it is safe and you can get your money much faster if you want unlike keeping in bank where you have to go a nearest ATM to withdraw.
You have spoken my mind, bank uses people money to lend or loan people and make more money that why whenever you wan to take a huge sum of amount, they will seek for your consent to know exactly what you want to do with it, because they know how they are benefitting from you. Bank is not a reliable place to keep money just that it necessary to keep it there if no I prefer keeping my money in crypto than bank. Bank might have network issues and transfering money will become a problem, sometimes you send money to people and yet they can't receive it in the other end. But with crypto currency transfer it doesn't hang or got Missing except you send to a wrong address.
Topic: Is it safe to keep your money in bank? - page 5. (Read 2573 times)
It is safe to keep your money in bank but banks are getting more money by using your money to lend it to others or to those people who loan in the bank. That's my opinion in why it is safe to keep your money in bank. Some people would say that it is not safe to keep your money in bank compared to keeping it safe yourself. If you have a vault then I recommend using it rather than keeping it in bank although I said that it is safe and you can get your money much faster if you want unlike keeping in bank where you have to go a nearest ATM to withdraw.
You have spoken my mind, bank uses people money to lend or loan people and make more money that why whenever you wan to take a huge sum of amount, they will seek for your consent to know exactly what you want to do with it, because they know how they are benefitting from you. Bank is not a reliable place to keep money just that it necessary to keep it there if no I prefer keeping my money in crypto than bank. Bank might have network issues and transfering money will become a problem, sometimes you send money to people and yet they can't receive it in the other end. But with crypto currency transfer it doesn't hang or got Missing except you send to a wrong address.But indeed if it is used to deviate large amounts of money it is not recommended because it is true as said that banks will use your money for their interests if your money is very large in the bank, and another challenge is inflation, it will take away the value of your money every time it goes, and that is the disappointing thing when storing your wealth in fiat.
Hacking and also banks can make transactions using your account, I have experienced it, and lost my money although the amount is not much but it indicates that your money in the bank is not fully yours. It's better to keep it in crypto and only you can access your money.
It is safe to keep your money in bank but banks are getting more money by using your money to lend it to others or to those people who loan in the bank. That's my opinion in why it is safe to keep your money in bank. Some people would say that it is not safe to keep your money in bank compared to keeping it safe yourself. If you have a vault then I recommend using it rather than keeping it in bank although I said that it is safe and you can get your money much faster if you want unlike keeping in bank where you have to go a nearest ATM to withdraw.
You have spoken my mind, bank uses people money to lend or loan people and make more money that why whenever you wan to take a huge sum of amount, they will seek for your consent to know exactly what you want to do with it, because they know how they are benefitting from you. Bank is not a reliable place to keep money just that it necessary to keep it there if no I prefer keeping my money in crypto than bank. Bank might have network issues and transfering money will become a problem, sometimes you send money to people and yet they can't receive it in the other end. But with crypto currency transfer it doesn't hang or got Missing except you send to a wrong address. It is safe to keep your money in bank but banks are getting more money by using your money to lend it to others or to those people who loan in the bank. That's my opinion in why it is safe to keep your money in bank. Some people would say that it is not safe to keep your money in bank compared to keeping it safe yourself. If you have a vault then I recommend using it rather than keeping it in bank although I said that it is safe and you can get your money much faster if you want unlike keeping in bank where you have to go a nearest ATM to withdraw.
You have spoken my mind, bank uses people money to lend or loan people and make more money that why whenever you wan to take a huge sum of amount, they will seek for your consent to know exactly what you want to do with it, because they know how they are benefitting from you. Bank is not a reliable place to keep money just that it necessary to keep it there if no I prefer keeping my money in crypto than bank. Bank might have network issues and transfering money will become a problem, sometimes you send money to people and yet they can't receive it in the other end. But with crypto currency transfer it doesn't hang or got Missing except you send to a wrong address. 
There are no security guarantees anywhere, whether in a bank, on a stock exchange, or on a wallet... there is always a risk. Somewhere less, somewhere more, but there is always a risk, and the person himself must understand this and weigh all the pros and cons. Wallets can also be hacked, I generally keep quiet about the bank and the exchange.
Hight return profits in crypto market or any our own business but a bank will give you limited profits. So that's will not happy so if you want top safety for your capital then you should investment in bank. Otherwise if you want only high profits then you can investment in crypto, but one think never use long time holding mind.
Since bank had been the place where we keep our fiat funds, so we do we intend to out the money or should we now conclude that bank is no more functional for keeping money. We have wallets that serves the purpose of keeping our digital currency so we don't have to be afraid of bank or how to keep our fiat currency safe. Cryptocurrency is very profitable and if we make good investments, this will give us good profits too even though the risk could be high but the target is to make profits.
Hight return profits in crypto market or any our own business but a bank will give you limited profits. So that's will not happy so if you want top safety for your capital then you should investment in bank. Otherwise if you want only high profits then you can investment in crypto, but one think never use long time holding mind.
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.
Bank is the last option to be considered for saving of money most especially for long term basis, this is because many at times we tend to make the wrong move by holding money in the bank where it be affected by inflation and other charges that will make the money to become worthless even on the long term.Bearing in mind the possibility of third-party involvement with banks and also what the extent of risk will be in the other assets to be considered for holdings.
Quote
Is it safe to keep your money in bank?
It is not safe to keep money in the bank in the country where I live. Because the bank authorities are not able to provide any security to people's money now. My country is now on the verge of complete bankruptcy. People in this country cannot sleep well at night with money in the bank. Many banks have already declared bankruptcy and there are many more banks that are just about to declare bankruptcy. So how can people keep money in the bank with so much risk in this country. People now never keep money in the bank with so much risk, they invest their money there if they find any source. From my side I would say that if I have enough money I will never put it in the bank I will always invest it in Bitcoin in my cryptocurrency. As a result, I will not have any tension, I will get hundreds of times the profit that the bank will give by investing Bitcoin. I think the bank is a safe place to store our money there. Of course, we have to choose a bank that has a good reputation and has been legalized or recognized by the state. Even though there are also banks that have a good reputation but are not under the auspices of the state, we also should not completely trust them because at any time there could be fraud or loss of money, so we cannot sue them.
Yes, bank is still safe place to store or save your money. All my money are in bank, bank put a good reputation since then, but some of us know that sometimes, bank is you know what I mean. Still bank is still a good place to store your money. Even if hackers hack banks, we still have a chance to get back our money. Banks have to give back our money and that is not the same with crypto if hackers hack your account, it is gone, you cannot retrieve it. 
I think the bank is a safe place to store our money there. Of course, we have to choose a bank that has a good reputation and has been legalized or recognized by the state. Even though there are also banks that have a good reputation but are not under the auspices of the state, we also should not completely trust them because at any time there could be fraud or loss of money, so we cannot sue them.
To keep money in bank this days is not advisable. Because of the nature of bank system this days, they have been cases of several missing fund when trying to pay in money to some people's account. which is not supposed to be so. Recently a bank was hacked of a huge sum of money and this was due to lack of cyber security. So I prefer keeping my money on a Jon custodiall wallet for safety.
When the time for usage arises, I can withdraw it to fiat. And morover fiat is gradually depereciating due to economic inflation which is gradually devaluing out fiat
When the time for usage arises, I can withdraw it to fiat. And morover fiat is gradually depereciating due to economic inflation which is gradually devaluing out fiat
Dont you confuse crypto exchanges with fiat banks? I mean how come someone hack a fiat bank? All the transactions are traced, confirmed and etc. Moreover, banks dont hold all funds on their accounts. All the funds are spread between correspondent banks. To be able to steal huge amounts from banks, you need to get confirmations from various correspondent banks simultaneously. And what are "missing funds" ? Account owners logs in, his funds are gone and bank does not know where are they? Such thing would never happen.
If you deposit money in a bank, it is no longer safe since hackers can steal the identity of the bank account without the victim knowing they have been defrauded. The bank itself was unable to prevent their clients from being robbed.
Then, if you put 3 million dollars in a bank and it suddenly declares bankruptcy, don't expect them to be able to return it, or if there is a robbery, it will be around 10,000 dollars they can only return to you even if you have another 10 million dollars deposited with them.
Then, if you put 3 million dollars in a bank and it suddenly declares bankruptcy, don't expect them to be able to return it, or if there is a robbery, it will be around 10,000 dollars they can only return to you even if you have another 10 million dollars deposited with them.
Well, from the point of view that it’s safer to keep money in a bank than under your pillow, but again it depends on what country you live in and what kind of banking system you have, whether there is insurance against the problems of banks “bursting” and so on. This topic is too trivial to answer 100%. But holding assets in cryptocurrency is quite risky, so there are risks everywhere, the main thing is to diversify your assets.
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.
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 consider the bank the worst place to keep money currently, considering the circumstances surrounding the banks globally, it is not comfortable with me.
I'm happy we have blockchain technology to alternative the banks today, what I do is just to withdraw whatever I want to use for my running cost and leave the rest in my crypto wallet. It keeps me at peace and leaves me with little or no worries about policies and sanctions.
If I may ask, why do you think bank is the worse place to keep money? Have you being ever scammed by bank before?I'm happy we have blockchain technology to alternative the banks today, what I do is just to withdraw whatever I want to use for my running cost and leave the rest in my crypto wallet. It keeps me at peace and leaves me with little or no worries about policies and sanctions.
Bank is never a bad place or worse place ever to keep Money. If you are having difficulties using your bank, it will be better for you to change the bank and use another better than the one giving you issues.
We don't have to ask ignorantly and write whatsoever we like because we are abig fan of Bitcoin or the Crypto market. It is very important for us to differentiate from any other controversial argument we are having in the crypto sphere. Do not forget that your crypto wallet is a digital bank where you keep your coins safe from intruders.
And the Basic question now Why so many transactions and bank accounts? Need the answer.
It is because they are already trusted by the people and the government and with that, we're seeing a lot of transactions coming from them.I think everything has a correlation and they have digital currency income and no one accepts payments using digital currency directly in the case of WD will use bank services to withdraw some money viat for daily use.
They have various services and if it's about digital services, they've got a lot of methods through it. We're talking about the banks in general and most of them have that offer to all of their customers. I consider the bank the worst place to keep money currently, considering the circumstances surrounding the banks globally, it is not comfortable with me.
I'm happy we have blockchain technology to alternative the banks today, what I do is just to withdraw whatever I want to use for my running cost and leave the rest in my crypto wallet. It keeps me at peace and leaves me with little or no worries about policies and sanctions.
I'm happy we have blockchain technology to alternative the banks today, what I do is just to withdraw whatever I want to use for my running cost and leave the rest in my crypto wallet. It keeps me at peace and leaves me with little or no worries about policies and sanctions.
And the Basic question now Why so many transactions and bank accounts? Need the answer.
I think everything has a correlation and they have digital currency income and no one accepts payments using digital currency directly in the case of WD will use bank services to withdraw some money viat for daily use.
To avoid the risks of losing your funds, you should find a reliable crypto exchange that provides high security and trustworthiness. And that should be FMCPAY Exchange.
Why FMCPAY is a safe place to store your funds?
FMCPAY Exchange takes security seriously and has put in place a number of safeguards to protect your payments and personal information:
As the most trusted platform for cryptocurrency exchange by digital securities registered in the USA, FMCPAY can ensure your assets will be protected whenever you invest in this exchange.
You're give a misleading information that will trick any newbie who doesn't understand about centralized exchange, they will think it's secure enough to store their coins on centralized exchange rather than on non custodial wallet.Why FMCPAY is a safe place to store your funds?
FMCPAY Exchange takes security seriously and has put in place a number of safeguards to protect your payments and personal information:
- Two-factor authentication
- KYC
- Email verification
As the most trusted platform for cryptocurrency exchange by digital securities registered in the USA, FMCPAY can ensure your assets will be protected whenever you invest in this exchange.
Centralized exchange is worse than bank because there's no insurance company will back up every single customers' coins and it's vulnerable getting hack or going bankrupt like banks.
2FA, KYC and email verification has nothing to do with your coins security, it's just to secure your account. I advice you to correct it and act accordingly.
Well said!
Centralized exchanges aren't saints. They can cease ur assets or get hacked, so I won't completely cancel Banks out of the picture.
Jump to: