Bitcoin Forum

I'm curious how people with a lot of currency; even if it's just $7,000.00, store it?

I've seen it done a lot of different ways in the US.

Never have a big amount of cash but if ever I have some, I will open a savings account and put it in a bank.  I never saw someone who just store their money especially if its big.  It will be prone for fungi to grow in there.  Some put it inside their safe. 

If i had that money, i would divide them into several storage areas, 50% will I save in the form of gold, 30% will I save in a bank, 20% will I use to buy bitcoin and split it 10% will I use to trade and 10% again I would use to hold bitcoin in the cold storage.

Just regular savings account for me but I also got some money stored in premium/liquid domains. For larger amounts it would definitely be real estate. As much as I love Bitcoin, I only have money that I can afford to lose invested in it. Bitcoin is nothing more than a gamble at this point and there is no way I would gamble away my savings.

a bit of gold and a regular bank account, probably stock up on bitcoin depending how much i have left by the end of the year after taxes (i've never earned enough to worry about paying income tax until this year)

I would buy share with stock market.  I will join  mutual funds.  I will save some on a bank.  Keep some on my wallet and some in my cabinet.  If I have only money. ;D  But the best thing that I would do is to join a mutual fund it is really good thing to have one according to a friend of mine rather than keeping it in a bank with small interest.  Though I fell more safer if I have an investment and a savings.

The only things that make sense in the stock market are secured dividends and bonds. I know a lot of credible financial people who say the same. Flipping stocks is stupid especially if it's less than a quarter million where you don't actually make much for the risk.

Mine is in a savings account making interest and then a little in platinum. I can't even withdraw from savings without a long process physically. It's protected from cyber attacks.

Beat me, same here.

Except some higher percentage in paper bills and gold coins, wall mounted strongbox mostly protected by my own presence.
Local interest rates are not even noteworthy.

I always kept my money in my bank accounts, use many accounts at different banks, and if a bank has some "accident" not lose much money because other money is in my bank accounts of other banks.

Bank account mate,can't think of a better one,it's not like you can save your cash in some online wallet like BTC
But you can be creative,there's more than one way to store cash :D

If people have big amount of money it would be best I think to divide it to few different banks. It's safest way to keep it. If money received from not very legal activities or it's didn't taxed i think it's best to keep it in bitcoins or or buy something which have stable price and sell when you need money. And I think it would be worst idea to keep cash at home.

If i am in that situation having that amount of money well i will divide it and store in different banks some are on a vault hide on the secret room .i think that was safe enough and i thought that people also do that were not same thinking but the nearest is similarities unless the people who have that is a genius which can think more different ways than hiding on a vault and banking .

If it's in a savings account only some ATM networks allow withdraw and only like 800/24h at $200 intervals. You have to do a long physical process to withdraw bulk sums above some amount like $5,000 or something. This means the only attack vector for someone who steals your info is using a "mule" which you'd easily mitigate because they'd take a long time to take a decent portion of the balance and you can freeze the account in minutes.

Mine is in 0.05% savings accounts at just one branch, and then I have some money in platinum ingots waiting for a +=10% profit. I have like 4% of my capital in BTC in cold storage.

its a good idea to divide and store in different banks, its like don't put all of your egg in one basket, i like your idea bro. and this is a good way choose what account that we can used like to make invest, to pay the bills, or to spend by buying some product. and i think the rich people will do like this way, because they do not want to put all of their money in one single banks, they just want to avoid government suspicious.

if a have that money i'm store my money in bank, cause for now is a save way to store money in bank cause any guarantee if have some problem with my bank account, but if i have more than $7,000.00 i will separate to gold bitcoin or exchange in another currency like USD GBP and EUR etc

First of all, I don't have much in fiat cash. Whenever I am able to save a substantial amount of money, I immediately invest them in mutual funds, bullion, or equities. Right now, I am having less than $100 in my bank account, and another $50 or so in physical cash. I am holding two credit cards as well, and therefore my cash liquidity is somewhat better.

I try to buy bitcoins and I am serious with that...
Whenever I get a chance to buy it lower, I do that as I know I will make profit...
That way, I store it digitally and get something for the same... ;)

Obviously not under the pillow ) ) ) we are living in the 21st century and all the money is even card is a dollar a million dollars

you are doing pretty reasonable . Bitcoin will only grow , and gold is always a price , since it is not izavisit of the economy of any state

Bitcoin will replace paper money , and I think it will happen in the nearest 20 years . And the fact that you are actively acquire Bitcoins proves that you think about your future

What goes into my bank account, goes straight out again, its always empty.

In banks !. this will be the normal answer for anyone. as long as you are in a country with stable economy and you are not in a war zone, banks are still the best option to store your money safely

I never have that huge amount of money , but i would prefer to put it in a bank if ever i had . Better to have a savings bank with an interest than just storing it on your own because you are prone to use and spend it on the time you want to have fun ;D also i am open for some investment as well as the business franchise .

Sad thing is in most countries even rural parts of Europe $7,000 or even 7,000€ doesn't do anything unless you're just blowing it on electronics and food.. It will buy an okay used car or start a 10+ year profitable investment plans.

Basically in most countries if you have less than 25,000 don't expect much..

I will save all of it in the bank or investing in real estate then rent it for make my life easy and use a little to buy mining hardware.

In a fucking bank, sadly.

I don't have 7.000.000$, only a couple hundred k's. But I don't feel safe, not one bit. More like I feel like I am in a serious danger. I ll keep them for another year till i buy a house then i will divide my future wealth in gold and bitcoins. (Mostly in gold, %90-%10 maybe)

Savings account at an old and well-regarded bank. Interest I get is very low, but I can make large withdrawals as I wish, and without prior notice. Real estate is nice, but it takes too long if you need your money fast.

Basically you can pay cash for junk like a volume-construction home in a development or blow it on a high risk investment portfolio. Unless you go to a country or state where a dollar has half a century old inflation but you will get robbed or shot.. Like Detroit MI or Bangladesh. $200,000 isn't too hard to get; I see construction contractors get that level all the time and I've gotten fractions of that rapidly doing engineering and programming inside a quarter.

I store my fiat currency in a bank. It's not that much but at least I earn an interest and it's better to store money there than put it in my house with the risk of being stolen or being spent to my wants not needs. I have two bank accounts for now and planning to add one that has no ATM card and for emergency cases only. For now, my earnings are just enough for day to day needs but time will come when I have extra and then put it there as an emergency fund.

I open a deposit account in a bank. And the money saved and still get the top percentage.

Store currency? Why? Spend it or put it into something else. Currency is the only investment that promises to lose value... through inflation.

8)

Bank, but mostly in Bitcoins an alt coins. Can't help it. Not that I have a lot of money.

7000 $ is not that much.

if I had to save 7000 $, I would deposit 2k in saving account / 2k in a checking credit union accoun / 2k in cash / 1k in BTC

I keep my savings in the bank. Or buy them on Bitcoin, invest in gold

I keep the money in a Bank account or buy anything in order to sell more expensive. Keep in bitcoins I'm afraid. I don't trust bitcoin.

It is desirable that the money is not lying idle. Money needs to generate income, but if you don't know where they invest the better that are in the Bank.

Bitcoin the currency is not reliable, and gold is constantly changing in price. On the conversion, you will lose more than earn. Keep to the Bank.

for $7,000.00 i will separate to bitcoin for $2,000, my saving bank account for $3,000.00, and the rest i will buy some investment on real life like buy house and i think the price of that house will be increase year by year.

Well banks is the only way to save or store our fiat for safety this is one of the good benefits that your money is safe. but there is no benefits that your savings will increase more unlike to save it as bitcoin that you can make more profit if the price is increase in the future.

I heard that a lot of British people put cash buried in the ground, in fact, for bitcoin stored in the U disk is more secure

Lol, that`s an expert in storing money=) goo.gl/lpWbVw
One of russians ex-officials used to store 20bn RUR (~$330mln) in his flat in cash.
The weight of that pile of money was estimated around one metric ton

My fiat currency is invested in stocks and bonds.
I allocate 5% of my funds to bitcoins :D

like so many other people i also store my fiat currency in Bank, i thin banks are the best option for saving our fiat currency as banks give us so may other services related to our daily life routine.

I store my fiat currency mostly on bank, since it is the safest way to store money and earn a little from interest rate. only 1% of my fiat currency is stored in bitcoin and it have tripled because of the pumps that happened in the past few months and am continuing to still support bitcoin, gonna buy back when the price is low. Lastly, 5% of my fiat is what I use in daily life, it is also multiplying because of job and so on.

My fiat is just in my own house. I don't want to put it in a bank because if I'm going to withdraw it through an ATM, I'll be forced to withdraw the minimum amount even though I don't need that much. That would just make me spend more than I have to. Having all of your money in cash is okay because you can just take the exact amount of fiat you need when you're going out but there are some money hoarding laws in some countries.

I do not understand people who just keep currency. What for? Money must make money. We need to invest, this - the path to success

majority of my savings i have invested in shares and bonds and rest in fixed deposits in bank and some in gold jewellery,because in case of emergency availing a gold loan is much easier than the rest

Most of my money is still in Bank and i use credit cards to spend it and pay my bills. I am trying to use Bitcoin as much as i can but here where i live (Croatia, Zagreb) we have only two BTM machines and i dont know any shop where you actually can pay with Bitcoin. Roughly, 80% of money i have is at Bank and rest is in Bitcoin.

I allocate my excess funds every month this way.
60% growth stocks
20% dividend stocks
10% high risk stocks
5% bonds
5% bitcoins
0% in the bank

I store my fiat currency at the... "STORE." I don't have enough to store any other way, except if I don't want to eat, that is.

8)

Bank accounts are the best way to save your fiat currency as there is low risk there and we can also get profit through interest. But if we have some huge amount to save then real estate is another good option for it , because we can get maximum profit through real estate. Depending upon you and your money if you have a sharp mind and big amount to save then then go for real estate it else go for bank account.

Nowadays i am considering to withdraw everything i got from my bank. The situation is getting shittier with everyday. No need to take risks. If a bank steals your money, you can't do anything about that. It is all legal.

i stored au dollars a long time ago, bank account as well as the paper and save money i need to get something like a bank. Most of the time there is always money it really helped me, so you can save money on more important accont's purposes will remain there for the

I store it in the bank like any normal person does.
But if I had alot of it like a million dollars cash then I would more than likely can afford a safe to put it in then. It would be way more secure that way. ;D

Are people who don't store it in bank not normal  ???  Store in bank is not normal, because bank owns the money not you  :)

I'm pretty sure that's how most people do it. I mean when you get your salary, you keep a portion in cash at home for groceries and other little things you might need that's off budget no?  Cash is so much easier to use than cards and it's faster too, unless it's a really big amount in which case card is preferable. Surely you don't mean to say you keep all of your money in your house?

I currently store in EUR

well we can't day about another person , but honestly my total saving in bank ( fiat ). is now into half  into the bitcoin . now i started my trading in bulk .

I have a ledger that I put most of if not all of my bitcoins on.
I do feel that they are safe on there because I don't move it from computer to computer.
Only use it on one PC so I do feel it is safe in the way that I use it.

Usually those people who have that huge amount of money do not literally store all of it in their home's safe.  They store it on banks for time deposits, insurances, investments, and other profitable way.  Plus, people who have those huge amount of money do not use a physical money, they pay their bills with cards.  Hassle free right?  I think they had only little money inside their wallets. 

cold wallet my friends...think cold

From what I've seen they store it in savings since hackers can't access savings with CC and DC dumps. I think some banks allow withdraws from network ATMs from savings, but it has the 24-hour limit. Withdrawing tens of thousands requires FBI paper-work in the US I believe.

This thread turned out about how I expected. No real answers or examples.

Bank account is unavoidable if you don't want to be left out in Europe. I use basically to survive: I have an insurance for the worst times. Deposit account are useless, I close them all.
One bank account is enough.

As the old adage says, hidden in a plain view.
There is no risky place as a strongbox or something like this...

Same thing over here even though banks are still trying to capture a sizeable number of the population but for me, I run like three bank accounts for different purpose, one for day to day expenses, the next for savings and the for one-off income, in addition to keeping some cash in hand to reduce the number of going to the bank and withdraw which comes with charges as well to rip you off your resources.

I have mine in savings accounts, commodities, and secured bonds and dividends.

Hackers can't touch savings accounts even with a full CC dump and even you have to jump through loops to pull big withdraws.. Actually it's the same with checking balances except you can withdraw on teller networks. Feds want to know if you go do a thirty-thousand withdraw.

I store my fiat in bank account. Storing large sum of money is not good as there are many potential risks such as fire, burglar and pest. Although many crypto believer don't like bank, there is not much choice to put your money in except in banks. It seems that in this deflationary period, cash is the best asset to hold.

I save my money in the BANK. I am convinced that the BANK is the safest place that exists today. I get a strong guarantee, the government also guarantees the existence of my fund in the BANK. there is an agency that can ensure our money is safe. I really liked the BANK.

I also keep my money in the bank. Now I think it's a reliable way to store money. In addition, some of the money in the bank deposit account, so I get the interest from this

To save your money from inflation I buy Bitcoin. He is not subject to inflation. But part of the centralized money I keep in the bank account

Yep bank will be best option to save our money. This is international well know to save the money. Some people use to invest in gold or other minerals and some people use to invest in property too.

Well if you have a lot of money and you know what you're doing, investing in land/property is way better than banks in my opinion. Of course you need to know what to buy and where to buy and this is not always obvious, especially if you're looking for a long term store of your wealth. But if you get it right, not only is your money safe but you'll also stand to profit nicely from your investment.

You do realize the price of things controls inflation, right? So..  bitcoin is susceptible the nano-second you actually use it as currency..

I also like how people completely ignore the fluctuation of bitcoin..

My concern with gold is it looks a little toppy if you look at the chart over 20-30 years etc.  Its had a massive recent increase i dont like storing my value on that right now.  Silver looks a little better IMO.  Bitcoin looks even more stable.

I had all the money invested in the business. Now not profitable to keep the money in the Bank. The truth is now more likely to fail.

As of now my fiat currency just save in bitcoin since we already tested that the price will increase just like now we are see that the price is increase.
It is the best to invest it in bitcoins since the price will increase more this coming months..

It increased to over 1k once too...

Can you show me the person who is proving bitcoin future?

I translate part of the money at once in Bitcoins, some lie in the bank and a little money in the paper state lie in a purse

two ways. i have a bank account and also something like a piggy bank where i keep paper money savings. most of the time it's there that i get money when it need so the money in my savings account stays there for more important purposes

I keep their fiat money in the bank. When I need cash - I take it from there in the right quantity. It is very convenient