I don't think difference when storing your money in the Bank or cryptocurrency because not your keys is not your coins and not your key is not your fund bank, just difference place only between saving money in the bank or cryptocurrency many way how to scammer try to get scam with your assets. For more security, better prefer with your mobile banking with one mobile phone only without directly with social media account how easily scammer sent you scam site link and get easily with your fund loss. But some time saving money in the Bank the security depend on the Bank worker how easily get access with the costumer data and most of losing money in the Bank in my country did by Bank worker.
For safety, withdraw your all money in the Bank or cryptocurrency and put it in security place at your home, currently its difficult for making more secure money if huge amount.
Topic: Not your keys not your funds Banks - page 3. (Read 523 times)
Banks do not physically store all deposited funds but instead utilize them for lending and investment purposes, maintaining only a fraction of the deposited amount as reserves. Keeping you money in a bank is a risky idea even though that is how it has been for a long time. There are other options to pick from rather than keeping all of your money in the bank. Rather than keeping all of your money in the bank, invest a portion of it in bitcoin, invest part of it in starting up a business, put some part in stocks or real estate. A $10000 sitting in your bank for 10 years will not give you the same returns as it would if you put invest it in one of the alternated schemes listed above that you understand.
Banks isn't a place to protect your money, just hold small amount of money i.e. emergency funds in banks, so you can withdraw whenever you need.
Totally agree. This is the only reason why I only save an amount on bank that is only covered by the FDIC insurance amount since saving above the FDIC insurance is already considered risky while your money doesn’t get much interest on bank.
It’s better to store in crypto like stablecoins and Bitcoin then Stake it on DeFi to gain passive income greater than the interest offered by banks.
If you feel banks are not safe for your assets, you can simply stop using them. And if you believe in cryptocurrencies, invest all your money in them and enjoy what you consider safe.
To me, nothing is absolutely safe and everything has its own advantages and disadvantages. Because in your opinion, if banks are not safe, how can they exist for hundreds of years and receive the trust of billions of people around the world? If cryptocurrencies are really as perfect as you say, why aren't more people using them to replace banks yet?
Your doubts about banks are not wrong, but there is no need to complicate matters while diversifying assets is the best way we should do. Because nothing here is perfect or absolutely safe.
To me, nothing is absolutely safe and everything has its own advantages and disadvantages. Because in your opinion, if banks are not safe, how can they exist for hundreds of years and receive the trust of billions of people around the world? If cryptocurrencies are really as perfect as you say, why aren't more people using them to replace banks yet?
Your doubts about banks are not wrong, but there is no need to complicate matters while diversifying assets is the best way we should do. Because nothing here is perfect or absolutely safe.
There's no where that you'll keep your money that it'll be 100% safe, whether it's physical cash, in investment, in the bank or through your wallet, there are robbers, scammers, natural or man-made disasters and bankruptcy can happen, so you'll have to take chances in choosing any option. But I think that one of the safest places to keep your money is in the bank, so far it's a trusted Bank that has built a solid reputation, they won't tell you stories anytime that you want to make withdrawals, the only disadvantage of leaving your money in the bank is if there's devaluation of your local currency.
What I'll advise anybody is not to put all their capital in one place, keep a few as cash at hand, save some in the bank and invest most of it in a reputable asset like Bitcoin.
What I'll advise anybody is not to put all their capital in one place, keep a few as cash at hand, save some in the bank and invest most of it in a reputable asset like Bitcoin.
There seems to be nothing safe in reality. Before, keeping huge sums of money in your house isn't advisable. That's too risky. Your cold cash is difficult to keep. You're exposing it to robbers. You could spend it on useless stuff. Your house could catch fire. There might be flood. Your money could even be consumed by rodents and other pests.
And yet, keeping your money in the banks could mean it could be frozen from you. It could be locked. You might not be allowed to withdraw it indefinitely. Your bank could crash. This goes on.
Keeping your money in gold, real estate, stocks, business, Bitcoin, and so on doesn't mean they're safe either. Perhaps diversifying your money could somehow lessen the risk.
And yet, keeping your money in the banks could mean it could be frozen from you. It could be locked. You might not be allowed to withdraw it indefinitely. Your bank could crash. This goes on.
Keeping your money in gold, real estate, stocks, business, Bitcoin, and so on doesn't mean they're safe either. Perhaps diversifying your money could somehow lessen the risk.
Yes a negative view destroys all hope.
You should not have all your money in the bank, nor in your house. Just spread it, invest it.
You only need to check their official sites and download their financial report, so you can know how much their total assets, liabilities and capitals they have. I understand manipulation in financial report is inevitable, but at least you will know if every banks have liabilities, even most of countries in the world also in debt.
Banks isn't a place to protect your money, just hold small amount of money i.e. emergency funds in banks, so you can withdraw whenever you need.
Banks isn't a place to protect your money, just hold small amount of money i.e. emergency funds in banks, so you can withdraw whenever you need.
There seems to be nothing safe in reality. Before, keeping huge sums of money in your house isn't advisable. That's too risky. Your cold cash is difficult to keep. You're exposing it to robbers. You could spend it on useless stuff. Your house could catch fire. There might be flood. Your money could even be consumed by rodents and other pests.
And yet, keeping your money in the banks could mean it could be frozen from you. It could be locked. You might not be allowed to withdraw it indefinitely. Your bank could crash. This goes on.
Keeping your money in gold, real estate, stocks, business, Bitcoin, and so on doesn't mean they're safe either. Perhaps diversifying your money could somehow lessen the risk.
And yet, keeping your money in the banks could mean it could be frozen from you. It could be locked. You might not be allowed to withdraw it indefinitely. Your bank could crash. This goes on.
Keeping your money in gold, real estate, stocks, business, Bitcoin, and so on doesn't mean they're safe either. Perhaps diversifying your money could somehow lessen the risk.
To be honest Banks have liabilities to other bigger banks and instutions If you own funds in bank it's not yours
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.
In the future the new money system should be that at least some amount what you have in bank account for example up to 30k $ you can transfer into your private self custody wallet, i heard that's the plan and yes its needed.
Nowdays i feel like my bank account balance is just numbers and i have no control over it the true wealth i have is cash in my pocket or wallet and the cryptocurrency.
Also Banks hold extra liabilities to other financial instutions and bigger banks and you might have mortgage or car loan with your bank you might think they own it but not If your bank have problems than you might lose your home even you pay mortgage for your home.
The thing is that banks and other debit credit instutions don't expose to customers openly info about how much leverage or risk they have and liabilities what they need to pay to other financial instutions If not they must liquitate their assets.
In times like this you only want to deal with bigger banks and credit /debit instutions.
But i feel that crypto and cash are real money the bank balance on my bank account i feel little sceptical yes banks are safe but still i need that feeling that at least some of my funds are under my own control.
Jump to: