Is it safe to keep your money in bank? - page 9.

lunnatic

sr. member

Activity: 1190

Merit: 250

COMBONetwork

Quote from: Dr.Osh on July 12, 2023, 01:06:42 AM

Quote from: TribalBob on July 07, 2023, 09:35:36 PM

So far I have said yes if we choose a bank that is trusted and under the auspices of government, like in my country there are banks owned by the government.
basically a bank is a place to store fiat before blockchain existed. so in conclusion everyone has a different point of view between saving money in a bank or in crypto all have their own advantages and disadvantages

well, at least the government guarantees the security of the bank. Personally, I am also still keeping the money I have in a national bank. it's because I feel that it is the safest place right now. maybe some people say that investing in gold, land, and others is better. however, for emergency use, we need stash money, and the most appropriate is in a national bank. In addition, there is no guarantee that we save money on the internet is safe. many cases say that their money is also lost because of saving on the internet. well, everything has advantages and disadvantages, but I still trust the bank to keep the money I have.

It's true that we never know what will happen in the future and saving money in a national bank is the right decision,
related to security, it is clear that banks are still better than storing them on the internet,
In general, people's trust in banks is still high.

Dr.Osh

legendary

Activity: 2688

Merit: 1004

Sugars.zone | DatingFi - Earn for Posting

Quote from: TribalBob on July 07, 2023, 09:35:36 PM

So far I have said yes if we choose a bank that is trusted and under the auspices of government, like in my country there are banks owned by the government.
basically a bank is a place to store fiat before blockchain existed. so in conclusion everyone has a different point of view between saving money in a bank or in crypto all have their own advantages and disadvantages

well, at least the government guarantees the security of the bank. Personally, I am also still keeping the money I have in a national bank. it's because I feel that it is the safest place right now. maybe some people say that investing in gold, land, and others is better. however, for emergency use, we need stash money, and the most appropriate is in a national bank. In addition, there is no guarantee that we save money on the internet is safe. many cases say that their money is also lost because of saving on the internet. well, everything has advantages and disadvantages, but I still trust the bank to keep the money I have.

shinratensei_

legendary

Activity: 3080

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

Quote from: bastian466 on July 11, 2023, 03:14:42 PM

Quote from: nicolas222 on July 07, 2023, 06:33:51 AM

In my opinion, banks are not trusted at all, they only look at their own interests and try to earn as much as possible from their users, and if they fail? they are saved by the respective states/governments for your own savings it is better to focus on gold or stable coins

Till now I still trust it and still use it because the bank for me helps with all the necessary transactions, without the bank I would find it difficult to make withdrawals and deposits to the crypto exchange market for security issues till now no loss incident. all security is in your own hands depending on how to treat it

thats fair point.
honestly I just think that every means of saving money is just not really safe, investing in real estate, might cause lose of money if suddenly bubble pops.
even holding some coin in wallet always exposes the risk of dusting attack or something like that, I think diversifying is just the only way to be sure that we really keep our money from being stolen completely.
and i'd even consider saving in banks and even depositing at as one way of keeping our money from getting easily stolen, as usually diversifying is the key here.

bastian466

sr. member

Activity: 1302

Merit: 250

Sugars.zone | DatingFi - Earn for Posting

Quote from: nicolas222 on July 07, 2023, 06:33:51 AM

In my opinion, banks are not trusted at all, they only look at their own interests and try to earn as much as possible from their users, and if they fail? they are saved by the respective states/governments for your own savings it is better to focus on gold or stable coins

Till now I still trust it and still use it because the bank for me helps with all the necessary transactions, without the bank I would find it difficult to make withdrawals and deposits to the crypto exchange market for security issues till now no loss incident. all security is in your own hands depending on how to treat it

mdzahed134

sr. member

Activity: 2128

Merit: 259

Vave.com - Crypto Casino

Quote from: gurunanakji777 on July 06, 2023, 10:32:19 AM

Why keep the coins on an exchange when we have the option to use hardware wallets such as Trezor and Ledger wallets? You're trying to say banks are not secure for storing money, but I would still advise storing money in banks. While bank collapses are rare, we cannot blindly trust cryptocurrencies due to their high volatility. In my view, performing KYC, 2FA, and Email verification does not provide a guarantee that your funds are secure on any exchange.

I think still so many people’s aren’t using hardware WALLET, some of them aren’t interested to buy it Because they've not enough assets to store in hardware wallet so they don’t want to spend money to buy it. And i think some of them have big amount of money but somehow they holding in exchanges as like in Binance, because they're highly trusted it. 2Fa and Kyc these are just basic things to protect our assets but not ultimate solution.

woez

member

Activity: 405

Merit: 41

Quote from: Inspiron14 on July 07, 2023, 11:06:13 PM

Quote from: TribalBob on July 07, 2023, 09:35:36 PM

So far I have said yes if we choose a bank that is trusted and under the auspices of government, like in my country there are banks owned by the government.
basically a bank is a place to store fiat before blockchain existed. so in conclusion everyone has a different point of view between saving money in a bank or in crypto all have their own advantages and disadvantages

True we can't really compare and think who's better at keeping money in the bank or in crypto,
in terms of risk, each of them certainly has a risk because no one guarantees it will be completely safe,
but my own view regarding security I prefer to keep money in the bank even though there are many cases of money theft but in crypto I think the risk is far greater.

Yes. They have LPS in my country. If there is one thing or another, money is lost due to an unexpected incident, the Bank can submit a claim for funds being withdrawn from the guarantor and the customer may submit an original loss according to the terms and conditions of their party.

Inspiron14

full member

Activity: 1064

Merit: 101

Quote from: TribalBob on July 07, 2023, 09:35:36 PM

So far I have said yes if we choose a bank that is trusted and under the auspices of government, like in my country there are banks owned by the government.
basically a bank is a place to store fiat before blockchain existed. so in conclusion everyone has a different point of view between saving money in a bank or in crypto all have their own advantages and disadvantages

True we can't really compare and think who's better at keeping money in the bank or in crypto,
in terms of risk, each of them certainly has a risk because no one guarantees it will be completely safe,
but my own view regarding security I prefer to keep money in the bank even though there are many cases of money theft but in crypto I think the risk is far greater.

TribalBob

sr. member

Activity: 1288

Merit: 257

Chainjoes.com

So far I have said yes if we choose a bank that is trusted and under the auspices of government, like in my country there are banks owned by the government.
basically a bank is a place to store fiat before blockchain existed. so in conclusion everyone has a different point of view between saving money in a bank or in crypto all have their own advantages and disadvantages

suzanne5223

hero member

Activity: 2590

Merit: 650

Want top-notch marketing for your project, Hire me

Quote from: SlimShadyMmp on July 07, 2023, 05:31:40 PM

Where else are you going to store your money mate I suggest going double ways or dividing according to your risk management Crypto still require fiat onramps and thats why banks are required and basically crypto is not mainstream yet or maybe buy some gold if you are curious Wealth can be stored in various ways Make your decision

Technically, it is not safe to keep money in the bank because we have some countries where citizen funds were used for something, seized by the government despite the fund being something that involves no illicit activities. Besides, before you can withdraw some huge funds the bank will ask you to go through some papers where they know you're the owner of the account, and the money is used to enrich the bank while they provide the owner with little or interest.
Having said that, most billionaires and Millionaires don't keep that money in the bank, they let it work for them or change it into gold.

Ultegra134

hero member

Activity: 1540

Merit: 744

Quote from: Japinat on June 26, 2023, 02:41:27 PM

Quote from: Amejoaquim on June 26, 2023, 07:59:30 AM

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

There are no guarantees that these platforms are a safe alternatives when it comes to storing our money unless we hold it ourselves and place the risks on our hands. Banks are not any safe either even if we say that they are already reputable and century old because at any given time, these banks are vulnerable and that comes with a price that includes our funds stored in their banks. Furthermore, when it comes to risks, it's much better to invest it so that we can create another source of income rather than storing it in a bank where inflation rate is much higher compared to their interests.

Bank deposits are perfectly safe for individuals; at least in Europe, they are protected up to €100.000 in the event anything happens, such as a bankruptcy. I don't believe that there's any valid reason to question the safety of bank deposits; it's extremely unlikely for a citizen to suddenly lose their money, unless we're talking about rare cases of capital controls similar to those that happened in Greece, and even then, no money was lost; only the withdrawals were limited.

The only risk you're taking when depositing money is inflation, which means that the money you're saving practically depreciates in value year by year. Apart from that, I don't see any reason to question the bank's safety. No other platform, such as an exchange or a different service, can guarantee the safety of your funds.

JeffBrad12

hero member

Activity: 2772

Merit: 524

Leading Crypto Sports Betting & Casino Platform

Quote from: SlimShadyMmp on July 07, 2023, 05:31:40 PM

Where else are you going to store your money mate I suggest going double ways or dividing according to your risk management Crypto still require fiat onramps and thats why banks are required and basically crypto is not mainstream yet or maybe buy some gold if you are curious Wealth can be stored in various ways Make your decision

diversification is always the key, always try to store money in various assets then it will be safe.
even though I always think bank as somewhat secure and what I mean with these kind of banks are those banks that are massive. which simply too big to fail.
even if they somehow collapsed there always ways for them to go back up again.
but then again diversification is honestly easy thing to do and it saves us from the possibility of losing our investments and money.

Rengga Jati

hero member

Activity: 1932

Merit: 622

ROLLBIT > Crypto's Most Rewarding Casino

Quote from: FMCPAY_GLOBAL on March 21, 2023, 10:50:27 PM

Is it safe to keep your money in bank?

Simple answer for this: NO.
there is always a risk of saving our money in a bank, there is no guarantee that our money in the bank will be secured 100%

Quote from: Amejoaquim on June 26, 2023, 07:59:30 AM

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

Indeed,
Apart from those whose interest or profits are really too small, saving money in a bank is also not convincing enough. Not to mention if there is a monthly fee, then this is quite expensive. Deposits in banks may be the choice of some people, even willing to save trillions of money in banks, this is also risky. However, I personally prefer the money to be invested rather than just kept in the bank. Maybe because I have only a little money. Maybe this will be different for someone who already has various investments anywhere and also just keeps money in a bank vault.

SlimShadyMmp

full member

Activity: 1470

Merit: 103

COMBO 2.0

Where else are you going to store your money mate I suggest going double ways or dividing according to your risk management Crypto still require fiat onramps and thats why banks are required and basically crypto is not mainstream yet or maybe buy some gold if you are curious Wealth can be stored in various ways Make your decision

wheelz1200

legendary

Activity: 3612

Merit: 1406

In the US yeah at least up to $150k which is ferlderally insured. If the banks collapse and the US does not back that insurance there are much more problems than you not having your money. Most likely that money would be worthless anyway if we were in that situation. Stick all of your wealth in banks nah, but is it "safe"? Yeah in the short term I can't see that being an issue.

el kaka22

legendary

Activity: 3500

Merit: 1162

www.Crypto.Games: Multiple coins, multiple games

Considering that we have seen some banks collapse and peoples money crash with them, I would have to say it is not. Sure for many years, even maybe for decades it could stay solid and no problems at all, but then one day it could crash and your money could be gone. Or better yet, to think that you store your fiat in banks is proof enough that it is a bad idea. Because we are talking about fiat here and we all know that fiat will be a terrible thing to invest into and if you think that you should invest and keep your money in fiat there is nothing wrong with it.

We are going to end up with a good result eventually, but that's going to take a while to reach and we need to understand the fact that it is going to take a while to get there, and fiat will slowly lose value whereas bitcoin will gain.

tengui

member

Activity: 485

Merit: 10

#SWGT PRE-SALE IS LIVE

Quote from: gurunanakji777 on July 06, 2023, 10:32:19 AM

Why keep the coins on an exchange when we have the option to use hardware wallets such as Trezor and Ledger wallets? You're trying to say banks are not secure for storing money, but I would still advise storing money in banks. While bank collapses are rare, we cannot blindly trust cryptocurrencies due to their high volatility. In my view, performing KYC, 2FA, and Email verification does not provide a guarantee that your funds are secure on any exchange.

if you are long term investing no one will advise you to hold on the exchange as there are chances of exchange being hacked or FTX events happening. to reduce the risk you should hold your crypto in a personal wallet, there are many private wallets that you can use and some of which you have mentioned.

nicolas222

jr. member

Activity: 58

Merit: 4

In my opinion, banks are not trusted at all, they only look at their own interests and try to earn as much as possible from their users, and if they fail? they are saved by the respective states/governments for your own savings it is better to focus on gold or stable coins

blockman

hero member

Activity: 2912

Merit: 627

Vave.com - Crypto Casino

Quote from: gurunanakji777 on July 06, 2023, 10:32:19 AM

Why keep the coins on an exchange when we have the option to use hardware wallets such as Trezor and Ledger wallets? You're trying to say banks are not secure for storing money, but I would still advise storing money in banks. While bank collapses are rare, we cannot blindly trust cryptocurrencies due to their high volatility.

Thanks to this market that is opening the eyes of everyone on how we should keep our money and assets. While there are still people that can't avail to buy hardware wallets because they think that it's not worth it based on how much they've got so, some good wallets that are downloadable and free are enough for them.

Quote from: gurunanakji777 on July 06, 2023, 10:32:19 AM

In my view, performing KYC, 2FA, and Email verification does not provide a guarantee that your funds are secure on any exchange.

That in no way has a connection to the safety of funds. When an exchange says that your funds are safe, it's just all words unless proved by them during a tough situation they experience.

gurunanakji777

full member

Activity: 2086

Merit: 100

Chainjoes.com

Why keep the coins on an exchange when we have the option to use hardware wallets such as Trezor and Ledger wallets? You're trying to say banks are not secure for storing money, but I would still advise storing money in banks. While bank collapses are rare, we cannot blindly trust cryptocurrencies due to their high volatility. In my view, performing KYC, 2FA, and Email verification does not provide a guarantee that your funds are secure on any exchange.

Farma

legendary

Activity: 2492

Merit: 1001

Leading Crypto Sports Betting & Casino Platform

Quote from: mdzahed134 on June 05, 2023, 11:41:51 AM

Personally, i don’t feel 100% secured to keep my money in the banks because you know bank also can be bankrupt, so that i can't believe it. Even i faced some issues in my country banks, i can't cash my money on time. But i think there are no 100% safe way to keep money in online or offline.

Well, as long as the bank is a national bank, I think they will compensate you for the losses you have when you deposit money there, because it is a bank managed by the government, and also has clear regulations.

If we compare security between banks and wallets, then banks have better security, and it's clear how you can find reports and those who are responsible for the assets you have. I once had a friend who lost his money in a bank, when they reported it, within 1 week, the money was back intact. However, if we talk about the advantages of investing, then crypto is far superior. however, I still feel that crypto is not a place to store the money we have. I still feel and use crypto as an investment and payment alternative on the internet. however, when it comes to saving money, I lean more towards banks or gold.

Topic: Is it safe to keep your money in bank? - page 9. (Read 2432 times)