Bitcoin Forum

As recent incidents demonstrated, even the most reputable financial organizations may suffer security breaches and unforeseen breakdowns. The Silvergate, Silicon Valley Bank, and Signature Bank instances have raised worries regarding the safety of storing money in institutions. In this article, we’ll look at these occurrences in order to consider if it’s safe to store your money in a bank and also find a new place to store your assets.

About Silvergate, Silicon Valley Bank and Signature Bank inciden

In less than a week, two of the banks that were friendliest to the crypto sector and the largest bank for digital entrepreneurs all failed. While cryptocurrency prices were rising on Sunday night following the federal government’s intervention to offer a guarantee for depositors at two of the banks, the events sparked instability in the stablecoin market.

Silvergate Capital, a central lender to the cryptocurrency sector, said on Wednesday that it will be shutting down and liquidating its bank. Silicon Valley Bank, a significant startup lender, went bankrupt on Friday after depositors withdrew more than $42 billion in response to the bank’s Wednesday announcement that it needed to withdraw $2.25 billion to shore up its balance sheet. Signature, which also had a significant crypto concentrate but was far larger than Silvergate, was seized by banking regulators on Sunday evening.

As a result, consumers are becoming concerned and seeking other ways to store their assets that are safer and more trustworthy than banks.

Where to keep your assets rather than bank

So, if you’re concerned about the safety of your bank accounts, what can you do to protect yourself? The first step is to select a trustworthy bank that has a proven track record of security and dependability. Search for institutions that have invested in cutting-edge security systems and have a track record of safeguarding consumer accounts.

Other types of investing, such as cryptocurrency or gold, are another choice. While these investments come with their own set of risks, they can offer diversification and possibly better returns than standard bank deposits. But, keep in mind that because these investments are not guaranteed or supported by the government, there still has a chance of loss. 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:

• 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. Moreover, it is the most suitable for newcomers in this crypto economy. Market cap & rank, prices, exchange volumes, and currency conversion! Track your holdings with our new portfolio and make detailed comparisons – plus stay updated with crypto news. With its user-friendly interface, you will find it easy to use and start investing or trading crypto.

If you had any problem or question, the 24/7 Customer Support Team will help you answer and solve your issue as soon as possible to secure your funds along with your trust in FMCPAY Exchange (https://fmcpay.com/).

Closing thoughts

To summarize, while the recent occurrences involving Silvergate, Silicon Valley Bank, and Signature Bank are worrisome, they are not reflective of the banking sector as a whole. Banks are subject to stringent laws and security requirements aimed to protect consumer assets. But, there is always the possibility of loss or theft, so it is critical to select a reputable bank and examine various types of investing to diversify your portfolio, like converting your assets into crypto and securing your funds in a crypto exchange.

At the moment, FMCPAY is running KYC Event which gives huge rewards in FMC Tokens. For more details, please visit: Click here. (https://twitter.com/FMCPay/status/1620632868769923073)

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.

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.

Most people feel they have no choice but to store wealth in fiat bank accounts. Most of us here are very far down the crypto rabbit hole but to pay most bills & to pay for services, unfortunately it’s very easy to use a fiat bank account.

What we’ve seen in the news recently though is the banking system is in real trouble. Contagion from failing banks is spreading like wild fire. I would suggest to put most of your wealth in bitcoin but if you have a lot of fiat, spread it around multiple banks to make sure you stick to the national financial deposit guarantee. Do not put too much money in one bank as if they go bust you will not receive all of your money back. $100,000 max in each bank just incase.

The safety of our wealth in banks and centralized exchanges is unknown. Yeah, they may say that our funds are SAFU or whatever they call it just to not compromise what's given to them.
But these incidents were all signs that the banks could really collapse and even if they were "too big to fail". That doesn't make sense anymore because anything can happen no matter how big they are. That's why if you want to get hold of your money, bitcoin is the best choice to convert your funds into it. You have the keys, no third-party intervention and even the government will not know that you're holding it as there's no need for any KYC to happen. The sole responsibility is on you and how you keep yourself safe.

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.

Technically, it is safe to put money in the banks simply because it is registered under government institutions, meaning, all transactions are tracked. Bottomline is, the value or amount you have put in there would remain the same for a long period of time unlike with putting it to other digital asset. For sure you are trying to persuade people to put their funds on cryptocurrency, it would be a good idea only if they can endure possibility of losses. Putting your money in cryprocurrency will give you the opportunity to grow your fund but will also put your money at risk given that market prices are volatile or changing from time to time. Decentralized exchanges are not banks.

Before saving your money in the bank, you should settle for two facts about the bank which are, the involvement of a third party and also loss of control over your money with a guarantee that you get a refund from the federal reserve if anything financially goes wrong.

-This is what the bank put on the table for use and if you have to use them, you must be ready to agree to these terms and conditions, banks are a traditional essential financial tool that has been abused severally and since it is controlled by the central bank the lack that independent power so at that their become risky for the ordinary citizen to trust them with their money since there is no guarantee of being able to withdraw your money at will.

My experience now on banks right now is I really don't store a lot of money there. I am treating banks nowadays as just storage of my daily used funds or some money that I can use and have access to anytime like if I need fiat to buy something from our local, I will just withdraw some of my money from the bank.
But for my investment in the future, I don't trust it with banks anymore.

You are funny. The banks are falling one after another and here you are trying to promote yourself as an alternative but, just like the banks, you are also a centralized institution. You are not different from the banks. Just like the banks that just collapsed, you are also holding your customers' money and you will also probably use it to invest somewhere else. Just like the banks, you will also be rolling those funds that are not yours, risking them in the process. You know why the banks failed? Because they're centralized.

In terms of the risks involved, there is no bank that can be considered as 100% anymore. So what to do is to distribute your assets in different banks so you have insured deposits. In case you have millions, better invest your money in money-earning real estate properties and go for gold and silver. Of course, one can go with cryptocurrency but here there are also big risks because anytime the value of your crypto can be changing its direction...to the north. Right now, some banks are undergoing some crisis but soon things will ebb down and we can be back to normal.

No one can guarantee 100% that your money is safe, even if you save it in a bank, of course real examples are Silicon Valley Bank and Signature Bank which have just gone bankrupt, even though these banks are quite large banks. but I'm sure banks will always exist as long as people still need credit loans

I wouldn't use banks to store my money. Even parts, even for a short time. There are almost no benefits. Interest on deposits is low, not compensating for inflation, bank can go bankrupt at any time and you will see more of your money. The only thing is if you use a bank to receive bank cards for online purchases. For everything else, it's easy to use cash that you can keep at home. Banks have never been suitable for investments. Then use the stock market for this, if you take the traditional methods.

Until now, it's still safe to keep money in my bank. Besides, the money I saved was in the government's bank, and I thought the government would immediately deal with it if something happened. But I don't save much money and only fulfill my daily needs. We all hope that nothing bad will happen to banks, especially government banks, but the bank may be affected when there is an economic crisis. But let's hope it's nothing.

Besides saving money in the bank, I also have bitcoins as a safe haven. Even though the value of bitcoin goes up and down, that's okay because later, there will be a time for the value of bitcoin to go up again, and that's when I will take advantage of it.

I believe most people will see now that banks too are susceptible to default, the trust in banks has started eroding since the 2008 debacle. If you don't need money and you are looking for a safer place to put it, then buy Treasury bills, this is what most of these banks do with our money. I have this feeling that the recent events is just the start of another chain of banks' liquidity problem

in my country so far it is still safe, but we see the case of the American bank SVB experiencing bankruptcy which is considered safe, not necessarily safe. We also have to be careful not to keep our assets in one place, stay safe.

Bitcoin wallet is the only private bank that keeps my satoshis the way I left it before going to bed, but the government bank I use always deduct money for no reasons, I complained, they fix and later they do the same thing, I don't keep money in the bank anymore, now I prefer using stable coins and bitcoin to store money, there is always profits surrounding bitcoin, compare to keeping money in the bank that won't yield anything.

In my opinion keeping your money in the bank is generally safe, even during a recession. One reason is that most deposits in banks are insured per category of account ownership. Plus, most banks keep enough cash in reserve to keep them steady even in crazy economic times.

Regarding whether or not your money is safe in the bank depends on factors such as the amount of the balance and the type of account you hold. For example, some account types may not be covered by FDIC insurance, such as mutual funds, annuities, or stocks.

It is safe to say that it’s not safe to keep Money in the bank accounts which are directly involved with the crypto space. The problem is not the bank neither is the crypto really but it’s foremost combination of both of them. Whenever a bank is connecting itself with a crypto then it calls for an attention from the government authorities. Obviously crypto is big space and it calls for huge amount transactions. Many times they are off the books and balance sheets aren’t prepared as per rules. This gives a chance to government authorities to pull a charge sheet against them and note that such banks or financial institutes always fail. That’s why it’s unsafe to keep money in such banks. But other traditional banks, I believe they are far more safer.

All banks are not silicon valley just so you know, and reputable or not, anything can happen. If reputation was to play a role here, silicon valley imo should be considered as one since only notable companies own assets there. I think this just goes to show that no company is above a security breach.
Choosing a reputable bank is good but when something is bound to go wrong it can't be stopped, and reputation won't do much to prevent it from happening.

I have gone through your writeup and it is more of a promotion for FMCPAY Global Exchange. You are clever enough to outline that it is mostly safe to keep money in the bank but where there is doubt, money can be invested in Gold or Cryptocurrency. You recommend FMCPAY for the Crypto saving option being a secure and reliable exchange in your opinion.

But if you have no interest in FMCPAY, would you recommend it above Binance, Coinbase, Houbi, OKX and others. As someone earlier stated, noncustodial wallet is the best for saving money in cryptocurrency.

Usually, we think that saving our funds will give us security and the same thing I think but now, I realized that these banks benefit more than us and they use our money for their investment as well and earn more percentage while depositors are just getting a penny. I don't think it was a good idea and beside these banks only promise the safe keep of our fund but generally, they can't assure that they will return our fund immediately to whatever will happen to them.

And the case of FMCPAY, it is all just the same. We usually got trick of these promising words but in the end, these centralized exchanges are just fooling us holders/users.

Today we have many ways to store assets through many different tools, and with a little knowledge, I am sure most people will apply investing to manage their own assets, can transfer money to valuable assets such as gold, real estate, stocks, savings,... I do not use the reason of some collapse cases to conclude the general situation because of the reality of banking remains a safe place, there are different risks and benefits that we all see. So I don't want to blame external tools, but let's admit that I have not been flexible enough in asset management.

We have seen the banking crisis before and it seems that history is repeating itself.

And so if that is the case it's really bad for us, however, we have other options like now like crypto, which I would say one of the best assets to hedge our wealth. Yeah, maybe keep some in the bank, but don't think that it will give you huge profits even if you lock it with them in the next 5 years as compare to crypto wherein in the next bull run, price is going to shoot more than 10x. So just do the math and think logically which is the best between the two.

it's been 7 years that I have been saving money in crypto and banks or ATMs only to withdraw cash if I need it. Saving money in crypto is ensured by gadgets that are specifically anti-daily, because there is a big risk if our gadgets get hacked by theft. it is true that having a bank if our money is not rotated to produce it will only decrease so on, such as taxes. contracts

100% security does not exist anywhere. Of course, you can keep money in the bank, but as history and recent events show, there is a risk. Keeping cryptocurrency on the exchange is also a risky business, and as mentioned earlier, it is better to keep assets in your wallet. I think the best option in our time is not to store everything in one place

You're doing great there, keep going. If you won't ask, im also doing a similar thing. Keeping money in crypto only but I still use the ATM wherever I sell some crypto because Bitcoins in my country is not yet a legal tender but if given a chance soon, I think I will never use a bank ATM again because it will only delay things plus I am paying extra fee for conversion.

Saving money in crypto is ensured by us and not by the gadgets that we are using unless if you also store your private keys/seed phrases on the same gadget that you are using but it's risky and not recommended at all even if you think it gives you convenience. Your last sentence about banks is right. This is one of the reasons why banks are not a good place to keep our money.

we still need a bank to take fiat money to pay for necessities, but indeed to save it at the bank this is less effective because we are charged administration fees every month, and get interest which is not that big. on the other hand, saving fiat money in a bank will be eroded by inflation which always rises. therefore it is better to save money on cryptocurrency, and use a bank only as necessary. this is because in my country cryptocurrency has not been legalized

I don't want to deny all the information from the OP, but the issue needs to be considered from many different perspectives, and the fact that many banks have been in trouble recently shows many risks to financial safety.
Although this is not wrong, but looking back at the things banks have run the economy, there are disadvantages and also their benefits. I don't want to criticize the issue when they get stuck and while that's just some of the cases, it's unfortunately had enough of an impact on people's psyche.

Keeping money in the exchange? What kind of nonsense is that? Cryptocurrencies are designed for people to store them in their wallets, not in banks and exchanges. What you are suggesting is completely against the very idea and concept of cryptocurrencies. For secure storage, choose your bank or exchange? What's wrong with hardware wallets, why are people suddenly constantly trying to impose these outdated ideas of custodial and centralization, that your money has to be carried somewhere in order to keep it. You don't have to carry them anywhere, you just have to buy a good wallet, work through the mnemonics, and that's it, your money is always with you, without the involvement of third parties.

I have never had any issue with keeping money in the bank, my issue isn't about the bank itself but that of the currency itself, my native currency depreciates in value against the dollar and this have made things to surge in price, so I don't keep money in my bank account anymore and I prefer holding USD to avoid the depreciation. I prefer keeping my money in my private crypto wallet.

actually depositing money in a bank or ATM serves a different purpose than depositing money in crypto. saving money in a bank or ATM is cold money that we will use to buy necessities, and money stored in crypto is money used for investment purposes.

if in my country the bank is still a safe place to keep my money, because if the bank collapses, the state will still replace my money, but of course the money I keep in the bank will not grow, therefore I only save 70% of my money in a bank and I use 30% to make investments (one of which is cryptocurrency investment).

there are certain amounts how much each bank can give insurance to deposits. so yes, you should also take note of that amount, as the government can covered it if in case the bank goes out of business. that's the advantage in traditional banks.
though in crypto, something like SAFU in binance has been one of the attractive features but still much better if you will hold your funds for safe keeping. unless, you are putting your coins to staking or other investment options.
just remember, when you are just depositing your money in traditional banks, you can gain a very little amount of interest if you will not put it into investment options like time deposit. but you can sleep at peace knowing that your funds are safe.

I also agree, it is safe to keep a certain amount in banks because of the insurance the banks issue for our deposits.  Not because some banks are failing, it means it is not safe to put our money in banks.  There is a certain threshold for whether our money is safe in the bank or not.  We just need to know the limit on how much money we can keep in the bank without the risk of losing it.

So to answer the title of @OP, I can say yes it is still safe but for only to a certain amount that the insurance covered to pay back.

Don't look down on the bank, there's a lot that CEX also got hacked and many people's money didn't get returned. Rather than you promoting these three features Two-factor authentication, KYC, and Email verification, you should able to guarantee investor money 100% when your exchange got hacked or stolen.

   -   That depends on your belief and trust in the bank, if you think it still helps, that's good. Now, if you feel even a little bit of doubt here and you think that you will save more with cryptocurrency or bitcoin is still your choice. No one is dictating to you what you should do.

The only important thing is, if you feel that you will succeed here, follow what is in your heart to accompany it with thorough research on the crypto you choose, that's how easy it is to do.

Basically I don't see this issue as something to compare who's doing well, we can see some bad events with the bank recently but it's not all. And the OP's use of it to promote his project, I just see it as an opportunity to exaggerate, looking at some of the information OP mentioned about this project, I don't completely agree. Safe point here. Because really you don't show the differences and in the electronic environment we don't like to use a 3rd party to interfere with personal property.

It is actually safe to keep money in bank. The only question is which bank. I haven't heard any bank yet that offers 100% return of money upon bankruptcy and I think it's usually because of government regulations that take care both the industry and consumers. In our country, we are only guaranteed a maximum of 500k for a single bank. It balances the economy. Tho it is important to save money, it is much better to circulate it. That's why rich people invest their money in other projects instead of just keeping it in a bank.

I am kinda involved or let's say interested in the crypto market since 2017 so i am definitely not a crypto hater but if you ask me if it is safe to keep you money in a bank, then i would say, that it is definitely safer to store your money there than to have cryptos. The past has shown that your crypto holdings are never really 100% safe. Quite a lot of people have lost their savings with the Terra Luna crash even though they have thought, that there money would be safe because it was a stablecoin after all and should not lose any value but in the end they have lost everything. Hacks can also happen and so on. So a bank is still safer than crypto.

I have several gadgets such as there are 3 smartphones, one smartphone I use only for transactions, no other activities, such as social media, there is no such application. because most social media now have a lot of links that contain viruses to control our gadgets if our smartphones get phishing. and two smartphones I use for general activities, social media. for me this is a safe way to avoid something that is not wanted. for 7 years still safe

It would better to keep my money in the bank rather than in the suspicious custody like FMC pay. People didn't even know the main purpose of this thread is just for the marketing purpose. I think that there will be no people used FMC pay to keep their money as it's likely as a scam service.
The bank is giving more guarantee rather than keeping money in the suspicious custody that can disappear anytime. You were successfully cliclbaiting so many members here. lol

While in a market like this which strives for decentralization people will not have the best opinion of banks, the truth is that they are useful to store small amounts of money, that way you can make all kind of transactions while your deposit is backed by the local government.

However storing high amounts of money at banks is a mistake, because as we have seen over and over again banks and governments are not above implementing policies to keep themselves in power, while they destroy the future and the savings of their citizens.

I think keeping funds in the bank is quite safe to some extent but be rest assured you're not getting any interest from the centralized institute neither is the money generating a profit by saving it up there. So in my own opinion, keep the little you can with them and have the rest of your wealth saved in the decentralized system.

It's kind of funny that you took advantage of what's happening with US banks right now by promoting your own exchange. Your exchange has no differences on the other exchanges out there.
More suitable for newcomers? How come? Show how it is more suitable for newcomers?
Market cap & rank, prices, exchange volumes, currency conversion? We can do that in either coingecko and coinmarketcap.
Portfolio tracker? We can also that on Coingecko and Coinmarketcap, and there are more out there where we can use to track our holdings.

Maybe the user-friendly interface is what's different with others, but still, I don't want to give my personal information to some exchange out there. You are also giving free coins to those who will do their KYC? I mean why? You want information of others for? Many people also don't like storing our money in an exchange and yet, you are promoting your exchange, and it's better than others because it has 2FA and Email Verification? Good luck then, but you've already mislead many people here.

well, what's more, quite a lot of CEX are also scams, like FTX, and others. Apart from that, I also still feel that national banks may be better than CEX. that's because their legality is recognized by the state or even they stand on behalf of the state. Several cases of losing money at national banks have occurred in my country, the bank is fully responsible for the incident and returns customer money that has been lost. It's different if it happens to CEX which isn't even fully validated yet.
To be honest, saving money in a bank has its advantages and disadvantages. however, if it's just saving money, then I might prefer a bank because it's easier. if it's about investment, then I will choose crypto.

In the recent cases involving Silvergate, Silicon Valley Bank and Signature Bank, it can be seen that the protection of customer assets remains an important issue in the banking sector. However, they do not reflect the entire field. Banks must comply with strict laws and security requirements to protect consumer assets. However, there is no absolute guarantee that customer assets will not be lost or stolen. Therefore, choosing a reputable and reliable bank is very important. That is also the reason that some markets like gold or crypto have increased significantly in recent times as people want a safe haven.

in our country almost all banks have a proud track record, and in my opinion almost all customers are satisfied with the bank's services. Therefore, I think that in our country the safest place to save money is a bank.
but it's a little different from me, for me it's better to use the money for me to invest than having to keep it in the bank. the investment I mean is in the form of crypto that promises to have a profit.

I do observe some people's views and see that it's a safe haven for assets and I don't like to blame some banks' crashes for our loss of confidence. Unfortunately, after the recent event, some people have lost faith in the bank and they are psychologically manipulated from the point of view on social networks, seeing this problem when users are not completely lost. Taking the trust from the bank they are just looking for a really safe place and that shows that many users have withdrawn their assets and moved to bigger banks. And the aspect of crypto market influence is also receiving a positive response as many people realize it is safe for them, but to me economic segments like crypto appear to be not competitive. It does offer more financial fairness, so don't over-press what is best for anyone.

A person feels safe keeping his money in a bank because there is no other place he can trust to keep it for a long time other than in a bank. After all, the Bank is a company that gets government supervision, people will feel safe with that. The consideration is, what happen if the bank is bankrupt? can we still withdraw our money? maybe, there are not many cases of bankruptcies, but anticipation must still be made. No matter how big or good the bank is, we must remain vigilant about it.

Agreed. Diversifying money into different banks is the most effective way to protect your wealth in reality. Wherever you live, there are always a handful of banks that have the national financial deposit guarantee. These are the banks backed up by the government or any most credible financial institution nationwide. $100,000 max in each bank is also good advice as this minimizes the risks.

Can't trust any Centerlized system we had seen in the past a lot of Bank had failed if you ask me i am investing my money in the share and Crypto rather than depositing in Bank no doubt we get interest but if you compare with inflation it's like a penny
But yes dealing with crypto is always Risky so safest one is share market
Better to learn first before investing in these 
At the end always remember to diversifying your portfolio i am not saying you to invest 100% of your money in these Share and Crypto but if you manage to learn the skill you can make a good amount
Last don't trust on anyone even if it's government

In my country there are still many people who believe in saving their money in the bank, only a few people have thoughts of circulating money in the crypto market because in my country crypto is not yet known by many people, only a small community understands trading.

I don't think it's safe to keep money in the bank at this time.  Because many famous banks in our country have already declared themselves bankrupt. There is no point in keeping the hard-earned wealth in the bank if all the wealth is to be lost later.
The condition that the bank will always deposit your money is that if the bank is in debt for any reason then the few members of that bank have to take the percentage of the loan. That is, even if you deposit your money, if the bank is in debt for some reason, then you will not get your money back, on the contrary, you will have to take part in more loans.

There are no safe places to keep money. In fact, the money isnt supposed to be kept anywhere. They should always work. They should always be in circulation.

Keeping money in fiat; in a box; under pillow and etc is wrong - inflation will eat them. Banks can go bankrupt. If you think government will protect bank from going bankrupt then this is wrong vision. Banks will guarantee that as a physical person, you might get back only a particular amount. But they never give exact info when exactly you gonna get them back. Diversification money in several banks only lowers the chances of loosing everything at once. Investing in property also have its risks (that is an example of long term investment).

That is why money must work, but not held. At least you get some experience and wont regret that you missed chance to spend or use them.

It is very risky leaving your funds on exchange because is not a place to store one investment rather is medium through which one uses to acquire some digital assets after which it will be moved to a trusted and safe custodian wallet address where exchange such as FMCPAY doesn't have control over the funds stored.Banks are gradually losing trust from their customers.

If your banks are regulated by government for sure they have insurance to cover up the money of their depositors, also there's a high chance that they return the money but this is long process to take. Maybe the risk we may get by banks is losing its value over time due to inflation so if we want to earn with our money then bank is not the best place to go. Good thing now we have crypto since from this we can earn and there's no money will sleep on any platform with low interest in return.

Only keep your money where you can accept the risk.
And if the bank is a safe place for you, you can keep your money in the bank; if not, you need to think of another place.
For now, maybe banks are still one of the safe places to keep money, especially in several countries that have not been too badly affected by inflation.
But when inflation starts to get worse, there is a possibility that the banks will also have problems and we could also be affected by the problem.
So we must be careful in choosing a place to save money because it is related to our future so that we can survive later.

I disagree. There has to be a safety cushion and free money that can be used for sudden problems or to secure those current working schemes where your funds are involved. This is the reason why many people can't take the chance to buy cheaper coins when the market suddenly crashes, because they don't have free money available, they are all involved in some projects. This way good earning opportunities are missed. Free money should always be present.

I agree. although when depositing money in the bank it will be guaranteed but not absolute. Traditional financial solutions all have potential overall objective or subjective risks. The case occurred from the banks of America as proof. It is not all cases will bear the risk but we also need to be cautious when choosing banks to deposit money. There will certainly not be a complete collapse of banks but being cautious and identifying risks is a good way to preserve money.

It's never safe to keep your money in banks or centralized cryptocurrency exchange. Both the banks and the exchange are no difference from each other. They both can get compromised very easily.

Always store you money in a way you'll be incharge of the money at all time, with cryptocurrency you can use stablecoin that are well established and store the money in your private wallet.

Same thing can be down with cryptocurrency that you own, been incharge of your coins is far more safer than any banks or cryptocurrency exchange like Binance, it could collapse at any given time.

according to what I know that saving money in a bank has strong and guaranteed security, but by saving money in a bank there will be no added value if only a little money is saved. but if your money has a large value then the interest rate you get is also large. only the security is very strong to keep money in the bank

Yes, it's true like your statement where we need to be wary of a bank that has our deposit balance in it. at least look for or know information related to the bank. if a bank is officially registered and has an operational license from the government, usually if the bank is going bankrupt then the government's operational license will be revoked. and customer balances will still be replaced in accordance with applicable regulations, (according to Bank rules). and you don't need to worry if the bank goes bankrupt, the balance will be replaced again

The way US is doing right now, they are giving incentives to the bankers to experiment fail and the government will eventually print money and rescue them without any repercussions, but the fact remains that how long they will be able to do that by printing money out of thin air and finally inflation kicks in and the currency that is held will be no longer valuable.

So the security of your money in the bank all depends on country to country and their banking rules and how strong is their economy. You cannot fail all the time and expect everything will be alright at the end of it and no government can save them all the time. The sole reason why cryptocurrency markets started to rally is because US banks started to fail left and right and people are not sure how many will be falling.

It is true that person should always have a money pillow for emergency situation, but that amount is often not very large. People dont usually keep their annual salary amount as a money pillow. With my post I did not mean that every single penny must be invested, spend or be in circulation. That I should keep my pocket wallet empty and have zero on back account. But having thousand or ten thousands on bank account, in safe box at home or have a case full of cash buried for a "rainy day" isnt right. I think you do know the proverb "you can't take your money into the grave".

You're not different from the other centralized exchanges that have been said that people should be keeping away their funds. I'm not detering people to do that in your exchange.

But I doubt it that you're giving the private keys for every wallet and crypto that you're supporting and that makes no difference from exchanges that are not providing those details because they're centralized.

2FA is good and additional security but that even if someone provides KYC, it doesn't make sense about having additional layer of security when it's being bypassed by an hacker.

It's only getting regulation support that keeps the money safe. The problem is you must also be aware of the case of silicon valley bank. It gets bankrupt and users are losing their money. The interest is not as big as crypto but to be honest, even though you are seeking a big interest in crypto and it's likely any service that offered a big interest in crypto was just scam. We can also talk about how profitable the business is in the crypto and how much money was raised from selling the product to be used as an interest to the token holders?

There will be no way for you to get money instantly, especially from the interest rate. The fact that if it's not security caused by your money in the bank has the same risk with altcoins to lose any time.
The regulation just gives it more guarantee compared with altcoin caused by you get back up by the regulators which have access to everything.

THat's the different between those things. The regulation that backed it makes it become even much more safer

honestly bank is safe enough, there are many insurance protecting your money, moreover government usually take care of these banks, it's just that some of them collapsing and that's normal I guess considering that happens every quite a while.

We know that bank crisis is something that rare to happen which is eventually happening as of this moment and this is one of the risks when you are trusting up banks but of course this had been existing for how many millenia on which these institutions are heavily regulated and been supported.This is why most of us would really be seeing these things to be a safe spot when it comes on saving up our money.
There are really just those people who are really that trusting up banks and there are ones who do want to like on testing out other venture which they do know that it could
really make out them more opportunity on making income or profits and somewhat trying to touch up new things.

Regulators are making our money become even more safer than crypto. If your money got stolen and you will have guaranteed if you can get back your money again. If you are also got scammed and it can be processed in the police unlike crypto when you are getting scammed and you will not able to get back your money and even though if you are making a report to the police and they will not processing it.

Bank is much safer than crypto. If only 1 banks was collapse and this is also happening once since a long time ago unlike crypto when there are bunch of exchange sites down in a year

if one bank collapsing doesn't mean the rest will do the same, there's reason why these banks are collapsing one of them are really bad decision making in which causes them to lose money. if you are willing to properly learn about what's happening these banks are losing money because they've got high risk lending programs in which many of them are collapsing, so it is still safe keeping money in bank and your money aren't gonna vanish out of nowhere.

The reason most banks are not collapsing is because the governments have once again ratified their policy to save banks no matter the costs and that at least for now the panic has subsided.

But make no mistake, banks have very deep connections with each other and a single bank collapsing can create a domino effect which could make tens or even hundreds of banks to collapse, and anyone reading this must know those risks are very real and we encounter them roughly every 10 to 15 years, so it is not like this a very rare event or anything like that.

I think the safest place to store it is in your own assets, such as gold, land, property, and others.
saving in bitcoin stocks or the like is also safe but there is a risk of decreasing value when the market for each of these commodities falls.

You are correct that saving money in a bank provides strong and guaranteed security for your funds. In most countries, banks are insured by a government agency, such as the Federal Deposit Insurance Corporation (FDIC) in the United States, which guarantees deposits up to a certain amount. This means that if the bank were to fail, your deposits would be protected up to the insured limit

The money is more safe if it is stored in the bank, the reason is that it is under a governing body which tracks the information of the owners, & everything about the bank.

Question to your FMCPAY, how will you compensate your user if ever their funds were stolen under your protection?

True, every bank in several countries has different regulations for their customers. if in our country Indonesia the rules of the bank towards its customers as I have mentioned, the point is that the bank that has an operational permit from the local government will be responsible for their customers for the bankruptcy experienced by the bank.

In the midst of the issue of three major banks in the United States experiencing bankruptcy, I think it's natural to ask the op "Is it safe to keep your money in the bank?". All Bank have regulation for protecting their costumer funds and seems when bank faced bankrupt seems they don't have enough fund how to refund for their costumer.

I don't sure safe money in the Bank keep securing due what happen with three bigger Bank in United State get bankrupt and what happen with costumer money, does get refund back or not? Better save assets with stable cryptocurrency coins and we have controlling by own self about our money without hold in the bank due anticipation if Bank got bankrupt.

The thing that i know if our country's economy is far strong compared with crypto exchange site that can even failing anytime even without getting an attack. Everything will be alright with the govermnet who was backing it. I can make a report to the police if my money got stolen in the bank or something else but there's no that thing in crypto. If your money got stolen and it's gone. It's hard to accept reality.

no one can guarantee the safety of your money, even in a bank, especially since the incident of silicon valley bank , signature bank and Credit Suisse went bankrupt, I think this also makes people hesitate to put their money in the bank, but banks are still safer than crypto, i mean we have to guard our crypto wallet carefully because the full responsibility lies with us

The nature of banks and bitcoin is completely different, while it is true the typical holder of cryptocurrencies has a higher chance of losing their money and will fail to recover it, it is also true that when banks collapse they could bring millions of people down with them.

The risk is so real governments all around the world created protocols to protect the savings of their citizens, however in the case of a systemic collapse those protocols will not work, and while such a catastrophic collapse is rare, it happens from time to time, and during such an event holding bitcoin will be a way better option.

Saving money in the bank is always save and secured but considering the collapse of silicon valley bank I fear for our bank account, the security of bank account is not guarantee but the risk of losing money from bank account is low considering that of online

Actually, it is not always 100% saved and guaranteed. Because sometimes, your money may be lost in the bank. I am not talking about it always, but it is still probable. You can browse in the internet, several incidents of people losing money they deposited long ago in the bank. although this is not frequent, it makes us realize not to trust 100% and think that the bank is very save. it is better to be more careful and wise to save your money.

We can only say that it is safe to keep money in the bank if the amount we keep below or exact the guaranteed insured by the FDIC if the bank collapse the money we had deposited will come back. But if the amount is higher than the guaranteed insured the exceeded amount will not be returned.

The risk depends on us. Better yet to spread out the money in different bank just to be safe rather than to be sorry if the bank closed.

The recent bank incidents are really concerning. It's really freakin' me out. I mean where are we supposed to keep our money now? Luckily, I stumbled upon XGo and it seems like a totally legit option. They've got this dope multi-currency wallet and virtual bank cards that are straight up awesome. But the real kicker is that you can swap between crypto and fiat currencies! Like that's some next-level stuff right there, and their walletID feature is like an additional layer of security that reduces the likelihood of errors when sending coins.

Bank is most safety place for saving money, I don't think not secure when saving your money in the bank due many people more than ten years and their money keep safety in the bank. But have weakness when saving money in the bank for longer time, inflation and values will drop than first time we are saving its the reason why many people move their money from the bank to the other assets investment.

All people still save their money in the bank because many digital transaction and easy when using mobile banking for payment transaction, but not worry Bank is the most secure place for saving money.

No place to save money is 100% safe because the potential for unwanted things to happen is still there, even if you keep money under your mattress. but what needs to be underlined here is that if you save your own money, you are fully responsible for the money you save. however if you save money in a bank there are other parties who are competent in this field who will be responsible if something happens to the money you have saved.

There's a limit on how much will be insured so if you're going to keep money in the bank then just do it under the threshold of what's covered by the insurance of the central bank or so. I'd say that money is still safe in the bank as long as it's not that a lot of money because we know that they're freezing funds by their customers based on what they think is the status of the customer and what they think about the situation of the bank and the country. This has been happening in Chinese banks and as well as in Lebanon.

Again, the decision is in the hands of each and whether it's saving money in the bank or keeping it yourself,
I think it has its own advantages and disadvantages,
indeed nothing is 100% safe and of course there will always be a risk of losing.

There are easier ways than keeping fiat money in the bank.  Collecting Bitcoins for a long time by collecting a hardware wallet. However, if you keep the money in the bank, you will not get much benefit, but if you buy Bitcoin, you will definitely generate money from it, from which you will get a double source of income. And Riks are very less which will be very easy and convenient for you.

At this point the risks of keeping our money at banks are too high, those which do not believe this always argue that your deposits are insured, but did people forgot already what happened at Cyprus where the government literally stole the money of the depositors?

And this is not the first time this has happened, then it is important to be a little bit more skeptic of banks, as it would not surprise me if another crisis was brewing and suddenly a great deal of the people around the world with a bank account found themselves unable to access their money due to a bank holiday imposed by the governments, and such bank holiday lasted until politicians figure out how to solve the crisis, a crisis they are responsible for.

Actually, Bitcoin means being your own bank, but if we have to choose a centralized system, state banks are still the best option. They have somewhat lower interest rates but are the most reliable. Still, I think we should continue not to collect all the eggs in one basket. As we diversify our investments, we can also diversify the service providers we prefer for our investments. Besides state banks, we can also use some reliable banks.

Yes, basically there are many trusted bank options and we can take advantage of that,
indeed saving money in a bank does not mean it will be 100% safe because of course there will always be risks,
but at least it's much better and again it all depends on each other's decisions.

This is true, either use your own wallet as your own bank, in fact use that if you can because that is by far better than anything else, it is the creme of the crop and you should be able to live a great life if you can just do that.

But if you "must" use banks, then state ones are definitely the best, the private ones will not be able to save your money and if they are gone then they are gone, not many nations have state banks, because liberal policy means that state should not own many business' and that is why some nations are unlucky like that, but in nations that has state banks you can use, even if they fail, they can just ask the federal reserves for more money and pay you and nothing will go wrong, your money is 100% safe there.

as for me, keeping money and savings in a bank is not saving them, since the banking system has many shortcomings in our society, there are a lot of scammers, and not only banks go bankrupt a lot in our time, especially in post-Soviet states where there is no stability and reliability in that your funds will not be wasted

Most governments around the world have also insured private banks so your money is as safe there as it is with banks owned by the state, which under regular circumstances that is reasonably safe, but when an economic crisis strikes banks can be one of the most unsafe places where you can leave your money.

As the only thing a bank or a government in need of funds needs to do is to perform a few keystrokes, change a few laws and they can legally keep your money, a scenario we have witnessed through history several times before.

Many people said it's safe to store your money on banks because your money will be insured by FDIC, so if the bank is collapse, they will recover and compensate your money.

It's true, but not always!

If the whole economy are down and there's a big problem for all country in the world e.g. virus, war etc.

FDIC will not able to recover your money because they're also struggling!

Also, FDIC has limits on the mount they could recover for private person or company investment in bank. It differs from country to country, but if a persons holds a million in bank, it does not mean that in case of banks bankrupt he will get that million back. For example in Russia in case bank goes bankrupt, a physical person can only get around $17k back. In current realities that is nothing. And compensation isnt instant. Also banks can not just go bankrupt, but lose license. Persons funds are also get frozen, and he gets zero back. Banks are safety box.

Lately am seriously having second thoughts about putting a good amount of money in the bank. Recently a close friend got her bank account locked up without any prior notice over a slight issue regarding her date of birth, a mistake that was the fault of another bank. Now she can not access her account and her funds until that issue has been resolved which means she has no access to her funds even in an emergency.
My opinion now is to put what you have to spend on daily upkeep and store your most funds in crypto, this way there won't be an unexpected surprise.

even bank can collapse but the rate of it collapsing compared to you losing your money under your bed is definitely far lower, i'd say bank are in general still the safest option of saving your money, you retain the value and there's also some guarantee from the government themselves that gonna bail them if they are in the brink of collapse, i'd say even best traders out there still save their money in bank generally.

The collapse of a bank is not the only way people can lose the money on their accounts, they can get hacked, their credentials can be stolen, their credit or debit cards can be cloned, and while in theory the bank should be able to give you your money back and set things straight, this is not always the case and you could lose the savings of all your life in a matter of seconds.

For this reason it is important to always remain vigilant and take care of our financial information as we do not want any of the scenarios above to happen to us.

If you are asking as where to keep assets better in a bank or in your own computer desktop wallets or hardware wallets the answer is simple,you should always keep your assets with you while you have full power over them,as they say "your keys,your coins" and "not your your keys not your coins".We can make an analogy even with FIAT money,you can keep them in a safe in your home and it is called "your keys,your coins" while the bank no matter how trustworthy they are,they are still a third party and the "not your keys,not your coins" apply here,so I am never pro keeping money in the bank.The bank should just be used so you can receive the money when you exchange coins.

Generally, keeping your money in a bank account is safe, as most banks are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposit accounts up to $250,000 per owner, per bank, and per account category. However, if you have more than $250,000 in deposit accounts, it is recommended to deposit it in different account categories or to open accounts with different banks to protect your money. While there is no guarantee that a bank will never fail, the FDIC will ensure that depositors get their money back if a bank fails

When it comes to security, centralization is safer than decentralization.  At the Bank your money is safer because they use a centralized system where they control all incoming money.  If there is news about bankrupt banks, very, very little.  Many banks also have deposit insurance institutions.  If we talk about decentralization, we are talking about where the system does not control the money, but the owners control their own money.  In my opinion it is quite risky especially with low knowledge about digital security.

there is no safe place to keep money even in your own home,
however if depositing money in the bank there is little guarantee if our money is lost by bank error and they can trace it most likely back,

no one guarantees that saving your money in a bank is safe, but most people in this world save money in a bank because it is a habit for people to keep money in a bank, in fact besides banks there are many other options such as gold, silver or commodities other.

The bank is a place to save money, not a place to invest. I keep money in the bank because I believe keeping money in the bank is a safe place. I get profit every month from bank interest yield, but for investment, I believe in crypto world after I invest in crypto world. profits from the results of my investment save again in the bank.

A bank is a place where bankers earn on people like you. I've always disliked the idea of someone making money out of me, while giving away only a pitiful crumb from this feast, and getting the whole pie themselves.

Accumulating money in the bank is a big stupidity, because what are you accumulating like that? Inflation? Interest rates are ridiculous in any banks and it is impossible to perceive this as an opportunity to save up. In general, money is very badly suited for accumulation and it is better to accumulate wealth in a different form.

Relly, is it safe? But what about the bankers who robbed their clients and ran away with their money?

Correct. It's a storage where we can keep our cash but that shouldn't stay there for long.

How much you're earning from their interest? They're too low compared to if you go with it on the market but then, the risk is lower, and almost got no risk at all by keeping it there.  And if this strategy works for you perfectly, there's no need for you to change it.

Keeping your money in the bank is like stocking at the bus stop, just like I have told many people who have sought my views and advice on similar topics, banks are bus stops we use our money to move from one place to another.

So bank can't be taken as a destination since with a bank you are not in control of your money and also you are vulnerable to various forms of bank injustice and inflation.

So of you are looking for the best asset safety place you should look for decentralized assets that give you total control of your money and Bitcoin is one of such assets.

It may be risky in private banks, but they attract customers with advantageous campaigns. Choosing state banks may be less risky than a private bank. We all know that nothing is guaranteed, even if the risk is small. Let's say we didn't choose banks. There are two options that come to my mind. One is bitcoin, the other is physically storing it. It's a completely optional decision. For now I prefer state banks and bitcoin.

If you do have that kind of impression and mindset then you would really be hating on why banks do exist but this is where reality do circles around and even on how we do hate up these institutions but there's no way for them to cease to exist. If you are an individual who does hate banks then you wouldnt really be saving up some fiat money into these but we cant really deny that when it comes to security of our funds the bank storage is something we do mainly consider rather than on saving up your fiat into your own house. Other ways would be making out some investment.

Just like mine on which i dont save up money much on my bank which 80% of those funds are really been put up on investment or any other ventures which it could really give some other profits
which it would be cycled and would be repeated to be used once i do accumulate enough. 20% of those fiat would really be just reserve for emergencies because we know that we cant really be
having be able to pull off  those funds anytime if there are some emergencies that do happen.

I think all savings will be related to the bank even though we have assets in crypto investment, I just choose a state bank over a private bank even though there is no guarantee that you can trust the bank completely, many cases of state banks have been abused by staff to steal customer savings for gambling and shopping. So we have to routinely review balances in bank accounts and if suspicious transactions are found, report them immediately to the bank for investigation.

I did find your logic very interesting. We really can't blame some people because they are used to the system and totally convinced that the bank is the only means of keeping their money safe. But since some of us here have gained the knowledge that it's not so, we should be extending that idea to some people outside the forum who are still in the state or have a false belief that they can't do without keeping their money in the bank.

You know what even surprises me most of the time is that some people would leave a huge amount of money in the bank for up to seven months and sometimes even more than two years mean while, there were assets they could invest in, like Bitcoin. Some months back, I read an article that was uploaded by a member on this forum about a young girl who lost a huge amount of money in her bank account to scammers, which happened to be her entire life savings. The truth was that the bank said the money is gone and they can't help her, so even the bank that people think is so safe to keep their money is not really safe. I keep some fiat but not a lot of my money in the bank for no apparent reason. 

If it is large amounts of fiat money, banks can be safer than anywhere else or leaving them at home. Still for me, I do not prefer banks because central authorities control them, so there is no 100% security; so by converting fiat money into cryptocurrencies, I can hold them in a hardware wallet away from the exchanges so that I can guarantee the safety and security of my currencies. I can make profits from the volatility of cryptocurrencies prices, unlike fiat or a large part of the stable currencies can be held in the hardware wallet, so for me, this is the solution that I follow, which made me the main controller of my money without the control of another party.

Saving money in a bank for me it is safe. I had been saving some of my money in a bank fore more than a decade now so far i have no problem in it my savings are still intact. There are also risk involve in saving in a bank, like for example you had registered in an online banking or you had bind your savings account with online shopping just be careful because a lot of phishing link via text, email, social media that once you click they will get your information and they can access your account and can get all your money in the bank without you even knowing. Do not share any OTP to anyone as well because they might change the access on your bank account.

The government gives you guarantee. It's very wrong to call that if there was no guarantee for your money when you stored in the bank. Im storing mostly of my money in bank. Here's the main concern. When you were storing your money in crypto and it was being stolen and none will able to help you. When someone was stealing your money in the bank and you can make a report to the police and it will able to catch the robber of your money. I think that this is really hard to deny.

Talking about whether or not it is safe to keep money in a bank is clear the answer is safe, why do you only see one bank that was robbed and took away customer money, isn't there a country that has solved that to what extent they have run away, the state will still look for it, but keep the money in the bank is the right decision, talking investment is clearly more profitable in crypto.

Because what happens here is that the banks keep your money and give you assurance of money back to whatever happens to them. They give you a certain percentage of storing your money but not mentioning where there use that money until such time leaks come out that the banks use our money to generate more income while giving us depositors cents, and it opened up our minds.
But despite this thing, banks can be trusted but at this time, saving is not the best option rather make a decision to invest as this is a great option when thinking about growing our money.

Even with the so called bank trust or insurance some time we can still get ditched by the bank, such that in the case of a bankruptcy and other financial crisis that could hit the bank at any time.

We have hard cases where banks seize depositors' money without any insurance covering the losses and this is what has affected people's trust in banks lately.

So decentralized asset management is the best form of financial management, and storing your money in assets such as gold and Bitcoin is the best form of saving since you will have the possibility of earning interest on your money.

Banks naturally ensure the safety of money. Generally people try to keep their hard-earned money safe. However, the situation of SVB Bank in recent times has taught people to rethink about depositing money on bank. Recently people interested in investing than saving money. Besides, I don't want to worry about keeping my money with someone else. I think investing properly is safer than saving money in the bank. However, nowadays conscious citizens accept the banking system only for the convenience of withdrawing and disbursing money. People are now gradually encouraged to invest in crypto rather than saving money in the bank.

in my opinion there is no safe place to keep our money, it's just that the risks are different, so if you keep your money in a bank it's not safe but the risk is very small for your money to be lost compared to investing in cryptocurrency, but your money can't increase if you save money in the bank (bank interest is lower than inflation), so I agree with you if we should not keep our money in just one place.

Banks were created to save money but why do you say it's not safe?.
I myself have also kept my money in the bank for years and it's been safe, I can't imagine how insecure it is? .
I know for sure you know a good bank in your country, and there must be a lot of customers do they complain about insecurity?.

Basically a bank is where we give money to people who are wealthier. When talking about security I believe the bank is safe. But when talking about privacy and profit then investment is the best way. I prefer to save my money in investment instruments rather than conventional banks.

for investment it's better for us to buy crypto currency or real estate, because the profit can be more than keeping it in the Bank,
and talking about security I agree with you that the Bank doesn't need to talk about the level of security anymore,
what is clear is that the Bank will always be safe for you save money.

You make some interesting points about the advantages of crypto over banks, but you also ignore some of the drawbacks and challenges of crypto. For example, you don’t mention the volatility, complexity, regulation and adoption issues of crypto. You also don’t explain how FMCPAY Exchange is different from other crypto exchanges or why it is more secure and trustworthy.

At the moments bank deposit now not safe and our country now so many banks already changed thire old rules and make new rults for every bank account holder it’s very hassle for us.

I think so it is safe to keep money in a bank. As banks are regulated by government agencies and are required to follow strict rules and regulations to ensure the safety of their customer's money. Most banks are insured by FDIC which means if a bank faces a bankruptcy the deposits of the depositors are protected at a certain amount. Remember that no investment is completely risk - free. Banks can also fail. Make sure if you will keep your money in a bank deposit to a reputable bank with a strong financial standing. Money in a bank can generally considered safe and secure option for most people.

Keeping money in the bank is arguably safe. Banks can guarantee the safety of our money stored there. But sometimes saving at the bank also backfires. There are banks that go bankrupt and cause our money to be lost. So saving money in the bank should also be careful. We must choose a good and trusted bank.

Bank is somehow safe depends on how you see it and what kind of financial knowledge you have but there are many bank restrictions that can make us feel unsafe with out money. One example is this is the strict requirements to withdraw a big amount of funds. I've experienced it and it put me in a ver hassle spot in passing the requirements and the bank almost won't make me withdraw my own money. There are also issues like bankruptcy which is common these days. Goverment want to make us think that banks are super safe but actually there are things that people should consider in putting money in banks. Today, almost half of my assets is in crypto snd some are in physical assets and only a little on the bank. I won't take a very hassle scenario again with banks. Also, I don't trust banks.

What you mentioned is actually correct that some time banks have take away our financial independence. In this case, you can put the bank withdrawal restriction in it. Even then I think we should take it in a positive way because some time if your bank account was hacked or access by some else then Then the person will not be able to withdraw large amount of money due to those processes and I think it is good for the security of the account holder. That doesn't mean I'm telling you to just keep your money in the bank I also agree that the we should far away from those banks system to secure ours assets .

Yes, keeping money in a bank is generally safe cause they are regulated by government authorities and have measures in place to protect your deposits. Banks provide more security, insurance, and safeguards against theft or loss, making it a reliable place to keep your money unlike most places.

I agree with you on that, centralised exchanges is no different from bank, even banks is more secured because they are backed by the country authorises and central bank of the country, if anything happens to your money, they can hold the banks accountable unlike centralised exchanges that can disappear

Everything related to cash savings at all times is associated with risks. Even now, there is no one hundred percent guarantee of preservation. According to the banking system, of course, Swiss is internationally recognized. But here, too, there may be different nuances. For example, sanctions. Even on a crypto wallet with cold storage, and that is the likelihood of theft.

some of your points are true, but honestly it's all come down again with the diversification of an asset, just diversify in many investment instruments like real estate, gold and many more and you'll be set.
there's certainly reason why so many rich people are preferring to have some unliquidated asset like in stocks and many more, because that way they don't create single point failure where if their investment suddenly gone they didn't go homeless.
even though sometimes bank could become bankrupt, at least government helps them to keep standing, that's have occurred quite frequently and it gives chance for the bank clients to withdraw their money at the meantime to save themselves from the bankruptcy which is quite good enough honestly.

I think we don't need to worry about the safety of our money in the bank, if we use the bank account safely then of course your money will also be safe,
it's usually our own fault, for example maybe when you go and your wallet falls and then your bank card it was taken by someone and you didn't realize it,
or maybe you saved it in myetherwallet and your private key you accidentally shared with other people. yes that's why everything to ourselves.

Putting money in the bank depends on the trust of each person, others put money in the bank because of course they have confidence and think it is safer. But if a country is going through severe inflation, I just think it's a bit hesitant to put money in the bank.

Because we know that when inflation is high, many banks close because of that, and in our current time, I would prefer to convert my money to bitcoin because I'm sure I will benefit a lot after a few years, as long as you know if what you do with Bitcoin you believe.

OP created this thread to promote his exchange which has this name: FMCPAY_GLOBAL, he has an ann thread here on the forum and instead of adopting the more orthodox means of advertising that has been used on this forum, which are subscription campaigns, he stays creating threads of this type with the intention of capturing people's attention, he knows very well that banks are 10000x better and safer than exchanges, it doesn't even make sense to compare a bank with an exchange, just look that a bank has a license, and constantly supervised by the central bank, a bank has physical headquarters where people can go to complain, when the person dies and there is money in the bank, the bank manager calls the relative or the relatives can withdraw all the money from the bank

Now what's on the exchanges? anything! exchange owners are anonymous people in most cases, exchanges do not have physical headquarters, exchanges do not have a license, exchanges are not supervised, exchanges are most often targets of hackers, if a person dies while he has the money on the exchange, no other relative will know that this person had money on the exchange, so the money will be lost on the exchange, so on the exchange, the only advantage you have is just trading, there is no other advantage. and even then, it is recommended that people who do day trades withdraw their money at the end of each trade

Of course people keep a lot of money inside the bank just thinking that their capital is completely safe in the bank. Banks keep going bankrupt. In the region where we live, there is more fear of bankruptcy of our country than the bank. The money lying in the bank can be confiscated by the government at any time, and you may face difficulties in withdrawing your money. In the region we live in, our economy is declining day by day due to which the money lying in the bank is getting devalued.

My own opinion is that most of your capital should be invested in Bitcoin, but keep in mind that you should invest in Bitcoin that you may not need in the near future. This capital will be under your control and you can cash it whenever you want, wherever you want.

What if the bank you are keeping your money with goes bankrupt? Now we can't say that it is not possible because we have seen that happening and when that happens, almost everyone who had their money stored in the bank will get nothing bank if they can't manage to stand up on their feet once again after getting bankrupt, in such a scenario, someone will surely say that banks aren't good stores for your wealth.

Yes, I do understand that there aren't a lot of possibilities for that to happen and your money is generally safe with the bank and is insured if something bad happens like a robbery or a natural disaster like a fire that burns away the money they keep, but there is basically also some risks in keeping your money with a bank.

Actually there is nothing too dangerous when we want to save money in the bank, because so far we think there is no risk that is too big where our savings will be lost, we can say that now the bank is still used as a place to store money because most people save their assets here. and to be honest, those of us who save in Cryptocurrency keep on depositing funds at the bank.

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.

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.

Yes. Crypto is perfectly good investment. But the golden rule of investment is that you don't put all of your eggs in the same basked.
With possibilities, crypto comes with risks. Risks are everywhere and so are opportunities. The best way to manage your finance is to diversify your investment.
Modern banks in most of the jurisdiction has to go through regular audit and keep their finances diverse and within the regulatory limit. Saving on a bank is not a risk in most of the jurisdiction, there might be a hassle to get your money on time when things are not going well, but I don't think there is a situation where a depositor on a bank has lost his money. Investing again is risky.

If someone is interested on the yield or the interest, then I would that say the best option would not be to deposit in the bank but instead get that money on treasury bonds, to take advantage of the government of the United States needing to borrow money to keep their things together.

Actually, now that the debt ceiling is going to be raised without problem those seeking for yield within the American debt system, in theory do not have much to be afraid. Referring to a default.

If you will compare about risk, definitely bank is lower risk than crypto investment. Because banks have regulatory board by the central bank so they can provide safety with your money but crypto is high risky for several things as like if you will keep your money in crypto here your wallet can be hacked or you can lost in trading also here is chances to big profits in short term.

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.

Exactly and in crypto there are so many scammers that they also have many ways to commit fraud,
there have been many cases of successful crypto wallets being hacked and of course this has become a concern,
even so saving money in the bank I think is just a waste of time.

Your piece touches on finance 101 – the push and pull between bank safety and diversified portfolio gains. However, you're leaving out some vital factors. Consider the world economic climate. Rough tides can make 'safe' investments like bonds and stocks unpredictable. The crypto market? It's a roller coaster with its short track record.

Your financial standing also holds sway. A person under a mountain of debt can't gamble like someone sitting on a cash pile. Not to mention, the legal angle! Rules for crypto investments swing wildly worldwide - some nations welcome them, others slam the door. So, its more than just personal finance targets and risk comfort. A broad spectrum of factors steer your finance strategy decisions.

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.

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.

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.

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.

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

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.

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.

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.

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

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%

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.

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.

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.

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.

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.

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. 

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.

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.

There is reason to be concerned. Investments can be scary because of the potential for loss of hard-earned money. Risk and reward, however, are inseparable aspects of any endeavor. There is usually a trade-off between risk and return.

Despite its ups and downs, real estate has historically been a solid long-term investment. Although collapses are possible, they are typically followed by prosperous times. Buying land isnt simply like buying a house; its like buying a piece of Earth, and Earth is a limited resource.

Cryptocurrencies are an innovative concept with their own set of difficulties because of their youth. But then again, what part of life doesnt contain difficulties? If we are cautious and well-informed, the possible benefits usually outweigh the hazards. Dont rush things, and always be open to new information; this is the best recipe for success.

Even if we say that there is still a bit of risk when we put money in the bank, it seems that in some other way, it is still really necessary in this age. All that is needed is perhaps to be careful in choosing the bank where we put the money.

Although, I don't trust much either, maybe even if I open one, I won't enter a large amount, as long as I know if it's necessary, because the e-wallet is actually in demand right now... And e-wallets are often accepted here in our country via p2p.

May be banks are safe, but in most countries the inflation is so big that profit in banks can not cover the rate of inflation. In such case keeping money in bank you will lose them.

Just sharing this information mate in case you do not know. Almost all banks in our country are registered under PDIC, a government-owned insurance corporation. This means there is an insurance of P500k (around $10k) per bank depositor. If you have more than P500k then you can simply apply for another account to the other banks if you want to make sure that all your cash is protected by banks insurance. Only the very small banks especially the rural banks that have low assets are not applying for the nation's insurance. So we don't have to really get scared about losing our money in the bank unless our laptops and other gadgets are prone to malware which is not the fault of the bank.

So generally, yes it is safe to keep our money in the bank. But nowadays, people are more aware due to the internet of investing opportunities like cryptocurrencies, stocks, and other forms of growing our hard-earned money. So it is best to only keep money in the bank for our regular transactions and our emergency funds since the interest rates are very very low and are far from covering inflation.

 

My honest opinion about this is BANK is the safest place for me to save my money. If we looked into this situation i can't find any other instrument as safe as BANK.

Keeping your money in the bank is like keeping your cryptocurrency on an exchange. Keeping your cryptocurrency in an exchange is even better. Inflation is always on a rise and it keeps decreasing the value of money kept in a bank. You money is better in investments on either physical or digital asset to avoid total loss of your funds in the case of bank getting liquidated.

Ultimately, the safety of keeping money in a bank relies on the stability of the banking system, the regulatory framework, and the specific bank's reputation and security measures. It is recommended to choose reputable and well-established banks and stay informed about the terms and conditions of your accounts. Diversifying your funds across multiple accounts or financial institutions can also help mitigate risks.

Any bank does not guarantee the safety of money. Even when it comes to Swiss banks. Although the latter is more reliable than in other countries. Keeping money in a bank can be comparable to an online wallet where we store cryptocurrency. It seems to be reliable, but there are also risks of loss.

In my personal opinion, I think that no bank or centralised exchangers in crypto currency is good for your fund securities. Moreover I think that centralised exchangers are more dangerous for your account most of the case we have been seeing this. Let's talk about banks system now you cann't also rely on banks like a blind. You have to also open your eyes on every time even then banks can be danger for your fund like before some times ago we have been saw that some oldest banks are from USA and Europe got rupt. So in this situation I think it be best security for your but to diverse on the decentralised blockchain system :")

Agree. We can't avoid banks, they help us a lot for any transaction purpose. Sure, we are difficult to convert our crypto assets to fiats if we have no bank accounts. I regularly withdraw my profits to my account banks, I can instantly get the money from ATM and use the money for any purposes. Without bank account, I think it will be harder to convert crypto profits to fiats.

Indeed. That's why don't keep all our wealth on banks. We can put some our wealth on golds, lands, property, and even crypto coins.

If we don't keep money in the bank, so where are we going to keep our money? Money is meant to be in the bank so there is nothing we can do about that. Since cryptocurrency is not acceptable everywhere and every regions have there laws that is backing the cryptocurrency then we still don't have the freedom of dumping the banking sectors to go fully into cryptocurrency. Maybe in time coming, things might change that bank will not be that useful to us since there will be digits currency we can always use to buy and sell online without any third party firms.

I agree with you, money is safe to put in banks because it is regulated by the government institutions and plus a fact that part of your money in the bank is covered by insurance but still it is not 100% guaranteed insured depends on how much you have in the bank. Exactly putting  money in crypto currency gives opportunity to grow your fund at the same time a bigger risk because of the volatility of the market and no one can really control over that. So as for be i would diversify my funds not only in banks and decentralized exchanges, I would put it as well to other kind of asset that could earn a good profit in the long run like real estate investment, gold etc. for better security of my funds.

When it comes to keeping money for security reasons, it's the bank that's more secure than cryptocurency platforms because cryptocurency platforms are getting hacked daily and wallets too are getting hacked, but when it comes to keeping money as investment, it's cryptocurency that's better because you money can grow more when you store in cryptocurency.
Cryptocurrency as investment will make your money grown, both Bitcoin and altcoins can help grow your investment but banks can't do that because they have priority customers that they give their investment to and make you managed just few profits that's not worth the risk your taking by making investment with them. Banks shouldn't be used for investing.
I would rather trust banks than trust cryptocurency exchange or centralized wallets to hold my money because they can be hacked and when that happens you won't be sure of getting your money back and in some cases you get absolutely nothing because the project can say they don't have money to payback their customers that lost it all to the hacking.

Once FMCPAY give scenario like FTX and Celsius, May god bless for those who put money in this CEX.

Also who the hell told you that KYC, 2FA is to secure your assets in CEX?  It's for secure your CEX account not to secure your assets in the CEX  ;D. Please don't mislead the people. Correct this. 

I think keeping funds in the bank is quite safe to some extent but be rest assured you're not getting any interest from the centralized institute neither is the money generating a profit by saving it up there. So in my own opinion, keep the little you can with them and have the rest of your wealth saved in the decentralized system.

The experience I have now to keep money in Bank charge fees, is a waste of time and money will be keep depreciating by bank charge's, here in Africa, Nigeria precisely, monthly sms charge and ATM maintenance charge fees is something else that's make me get angry sometimes, instead I prefer store or save my money through cryptocurrency, especially using stable coin to avoid market emotion price, and it gave me Joy and safe, while making my withdrawal anytime I want by convert into local currency.

To be honest, saving money in a bank has its advantages and disadvantages and there is no absolute guarantee that customer assets will not be lost or stolen.  . however, if it's just saving money, then I might prefer a bank because it's easier. if it's about investment, then I will choose crypto.

Nothing is perfect, but banks are still the best for storage. As long as we don't make mistakes that we may sometimes not be aware of, because of technological developments, crimes are increasingly widespread, but if we continue to do it in the traditional way, it will definitely be safe. It's true that investing in banks and investing in crypto always have advantages and disadvantages. Bank interest is not profitable, unlike crypto, which is very profitable. But the profitable or big profits in crypto will always be worth the risks that can occur. So always make updates and keep learning about all the things that might happen either in the bank or in crypto.

Banks always provide safety and security so it's a good choice to store our funds but if we seek profit, of course, crypto will be the best option.
However, if you store your funds in banks, you should comply with their regulations and policies. In crypto, we could freely transact with anonymity and that's what we couldn't find in banks.
There are really differences yet they both have negative and positive effects. Choosing will only depend on our personal preference and reason for saving. If it's for profit then go for crypto but if you see assurance, then choose banks.

It may be safe to keep money in the bank and take it out again and that depends on the bank.We can constantly see some banks running away with people's money. If you keep money in such a bank, your money will not be safe.I would advise you to choose a bank that you like well and then deposit money in the bank.

Bad experience saving money in the bank when our saving loss Bank not responsibility and many Bank costumer can't get back their money although loss or transaction did by Bank employees. Every countries have more several Bank and each Bank have difference cases or problem solve when their costumer loss their money, little Bank want to refund costumer saving if loss money if happening with malware or Bank fault, but some Bank loss responsibility and make costumer on bad position because losing money fault of bank costumer.
I don't think good ideas when holding saving in the bank, beside we need secure with our bank account but also have to check with Bank reputation when losing money will responsibility and refund for their costumer or not.

Is it safe to put someone in charge of the security of your money? It can be if that person has a trusted reputation and is still maintaining that trust. Still, there is a security concern because that person can turn evil in any dire situation. Your money is safe and secure as long as you are the one in control. Now replace that trusted person with a bank to get the answer to your question.

To be honest, there aren't any other options available to those investors who want to take risks with their money, because we all know that not everyone can handle the fluctuations in the crypto market. Moreover, there's no guarantee in crypto that your investments will only grow and not decrease, whereas keeping your money in a bank is generally considered safer. Banks even provide government assistance in case of a financial crisis, which is not an option in crypto. However, those investors who are not afraid of taking risks can certainly explore the world of cryptocurrencies. If you were to ask for my opinion, I would place more trust in banks rather than exchanges. On the other hand, if I were not to choose a bank, I would opt for hardware wallets instead of keeping my coins on an exchange. Exchanges pose a higher level of risk compared to banks.

It is true that money is safer in the bank and they've got products that you can use for your money that has lesser risk but more guaranteed profit.

The percentage of the rate that you'll earn from them won't be better than your potential profit in crypto. But with all of the banking collapse that has happened for this year.

We still consider it safe as long as it's backed by the government and do not put all that you have in there.

The truth is money in the bank is safer than crypto. If you're playing it safe then the bank is your go-to option. It has its own risk too but it's relatively safer and back by the government as you say.
The major disadvantage is inflation. If you're keeping your money for a long time then be certain that inflation will eat deep into your savings.
Also, there's little to no interest on your savings while in crypto there's a very high chance you might lose your money or make a huge profit on it over a long period.

To be honest, saving money in a bank is more secure than in a crypto because even if we have problems, we normally go there and complain, and our problems normally get resolved. If we have problems, did you know that banks normally help us track the account number that was used to scam us and try as much as they can to get the funds back? Or maybe after making some mistake while in the transaction process, or maybe the money did not go to the receiver, they normally refund our money back to the sender, which normally happens in crypto, but still, I’ll prefer to save my money in a bank than that in a crypto.

However, the money I’ll keep in crypto will just be an investment because saving money in crypto may result in someone losing that money when needed, or you may not get it back as you deposited it, while in the bank it will remain as it was deposited.

If you can not handle your own money then you are not qualified to have them. It's not necessary to store crypto only as an investment. People can use them for their daily expenses. Your bank can be insolvent or govt can force your bank to halt your bank account transaction. What will you do then? Who you will go to complain to resolve your issue? Which one is better ..keep control of your own hard-earned money or give it to bank that can be insolvent?

You put money in the bank, after you put the money in the bank, the bank goes bankrupt due to debt, then who will take responsibility for your money, the bank official or the government. When a bank goes bankrupt, the users who deposited money in the bank are burdened with more debt, far from getting their money back. Just imagine that money that you have earned all your life is disappearing in an instant and you have to take responsibility for that money disappearing and burdening you with debt.

I have seen several reports on the global economy where many economists have discussed the possibility of a global economic crisis ahead. If the global economic crisis occurs, some important banks of different countries will go bankrupt, but we will have no choice, so we have to think in advance. I think it would be a good decision not to keep money in the bank in our current situation as there is a possibility of bank failure.

The banks! They have guarded our money for years, and we trust them. But guess what? They cant always win. You are right. They expect us, normal people, to save them in difficulties. How about that? Its disturbing how easily we accept this power-responsibility imbalance.

Watch altcoins and DeFi flourish. Why are more people interested in autonomous finance? They're sick of the old financial system's fragility and obscurity. We shouldnt trust banks blindly. We cant let hope and naivety prevent crash readiness.

Be careful. Before a financial system collapses, we must expand and find other methods to spend our money.

I only use a bank so that I can pay for things using a debit card or QR code. As soon as I can, I will switch to using crypto instead and be my own bank.

I believe it's safe to put money in a bank, and it's easily accessible for daily use. But there are some exceptional cases where the bank will go bankrupt. When the bank was in a crash or crisis, what would happen to our money? Only a small amount will be gotten from the bank, and the rest will be crashed with the bank. So what can we do to avoid this crisis?First, improve personal financial knowledge.Second, keep track of your bank status.Thirdly,distribute your money into different bank accounts. and Fourth, make a long-term investment in the market.

well our money is insured for when the bank fails or the bank will try to get loans to pay their clients or basically get another bank your money will be transferred to

storing money in the bank is generally safe compared to if you stored your money outside the bank where it will be vulnerable to theft or natural disasters but keeping all your money in the bank for a really long time won’t be doing you any favors so i agree that we should all make long-term investments in the market instead

Same here, the bank is just where I go to get my fiat. I don't store or save too much amount in my bank account nowadays, because I've heard instances where people's money just disappear without any explanation, sometimes huge amount for that matter. So what I just do is to keep few amount for my daily use if the need arises for me to get cash at hand.

The bank has been the most popular place known for the saving of funds although it has its limitations both from the angle of the management and policies from the government that affect these financial institutions

The bank provides convenience to users and although it often experiences some sort of attack on a certain occasion, you can't deny the fact that they've played a great role in fostering ease in the transaction and most banks have set out modalities that ensure that the funds of there customers are safe and secure.

We're all the same about the banks. They're our just biggest commercial storage for our fiat regardless of the amount that we'll keep there. Although you can use their service and get access through it by owning an account there which is nice. About the money that disappears, I've got some problems like that in the past but I was able to ask help to their desk and my money was refunded.

Yeah, like a channel to get our money through cash outs and profits from the crypto market.  :D

The bank has been a safe harbour for people's valuables such as money,  gold, valuable documents, and other financial instruments you can think of and over the years they have served in this position which has given them the trust they have earned from society that people can without an atom of fear hand over their valuables to the bank. But with time we observe that the government are now using the banks in their own might trying to cage and control  the financial freedom of the citizens through crude policies as a result of centralized control and a percentage of people that gives so much priority to their privacy and financial freedom are uncomfortable with those centralized policies and this is what brought about the need for an alternative financial system that's decentralized in nature. Although the bank still serve a purpose which can't be overemphasized, it's important that people have open options.

I totally reason with what you said, because some of the things that were said by the OP can be misleading. I believe that the best place to store your coins is in a none custodial wallet, where only you have the access to your coins, no third party whatsoever to interfere in the safety of it. The only risk involved in a none custodial wallet, is when  your passwords or seed phrase is lost or compromised, and that will be the fault of the holder for being negligent. What about the phrase "not your keys, not your coins", centralized exchanges can not be more secured for your crypto coins than your none custodial wallet. It's even advised that you should not store all your coins in a CEX, only what you need for transactions. An exchange can go bankrupt but coins in your none custodial wallet, can not go bankrupt, it remains in your custody as long as you have the sole access to it.

Your none custodial wallet, don't need KYC verification, its decentralized all the way, as crytocurrency is supposed to be.

In my opinion it is not safe to keep your savings in the bank, banks can fail, freeze their users' funds and the government can make forced withdrawals, it is better to invest in gold or bitcoin on a decentralized wallet

Saving money in the bank is not the best solution when facing inflation, not to mention if the bank goes bankrupt, just save it as needed for emergency funds and daily needs.

The best crypto market, so you can't invest there for a while. Real estate requires real money that you may not have. And prices may soon fall. Gold never beats the rate of inflation. Do you know what always beats the inflation rate? Education. Use money to improve skills and earn more from crypto especially bitcoin.

Keeping money in the bank for years is opportunity you give to the bank manager and bank team to make more money through your money and bank will be debiting you monthly for maintenance whereas you are not making use of the money you kept with them, secondly they use our money to trade in forex in most times,  so we Keeping money in the bank is to enrich the bankers and you that owns the money will be at disadvantages side of, so therefore it's better you trade with the money you invest in bitcoin instead of dumping the money in your bank account.

Keeping your money in banks can't be regarded as unsafe because in every region, there are regulations that are always in place to follow before the establishment of any bank except for illegal establishments which the government may not be aware of, and you keeping your money with such people is putting yourself at risk and having no one to blame.

One know disadvantage is that your money may loose it's value staying in the bank especially when there's inflation, but that doesn't mean it's unsafe in the bank, it's very much safe. Your money may gain value if invested on some reputable investment platforms where you probably buy stocks and other financial investment instruments.

For me I'll not prefer to put my money in the bank for long term  cause there's a chance that our bank we use is bankrupt or else they will freeze, even though not all banks but much better if we keep ourselves safe . so it's better to get our money from them and yes some of us claim thier salary through thier bank accounts but always remember that  it's better to secure our fund's.
Anyways  it's better to invest in crypto if we have enough money. Than investing in tye bank .

Between keeping your money at home and in the bank,  I think bank is much safer even though majority of people have a negative view on the banking system.  Even if you decided to a step forward and go the crypto way, you most certainly need the required knowledge to store your money in a personal wallet and keep it in a safe place otherwise the out will be similar if not severe than putting in the bank.

A Well capitalized bank would not fold up easily and made away with depositors funds in fact majority of the credible and trusted banks are monitored in such a way that depositor money is insured in case of the bank folding up thus their monies is safe, however that does not mean that we should not invest or hodl crypto in term of investment, buying of gold as asset is also a very good idea however gold would also be deposited in a bank to ensure it safety that is why bank is also a very important institution that we can't ignore it usage, personally I would divide my funds into three first part goes to savings, second part would be invested on Bitcoin while the third is optional use to buy gold

There must also be management in place to start investing, if you just invest without knowing how to manage it, then it will just be an investment that will not develop and tends to be suboptimal. The crypto market can be the best assuming that you enter at the right price and a long-term strategy is certainly an option and Bitcoin is the one recommended. for some altcoins there are some top altcoins that can be trusted. and about saving money, saving money anywhere will not be safe as long as the user is careless

Banks are general and available in all develope countries. Stocking our money in the bank, is it safe? Ofocurse it's safe but it's usually stressful to withdraw them from bank due to network problems and the high rate of people who are also interested in the same operation. I've shared my money to different sectors, my savings are kept in banks due to the heavy dump of the crypto market, I won't survived a chance when I will anticipate in the system. I also prefer saving money on exchanges like Binance but the current USDT is really crashing but there's hope for the coin to bounce back, all I have to do is exercise patience.

It is safe to store your money in the bank but safer to store it in your crypto wallet. If you are suggesting that people store their crypto on an exchange, what then is the essence of not storing it in the bank? It doesn't matter if they have 'top-notch security" as they normally claim before getting hacked, they are still in control of your funds than you think. I believe everyone should have a decentralized wallet where they store their funds (and also have complete control over the funds) and only go to Centralized EXchanges when they must. Additionally, one should only send the amount needed for the specific transaction they want to carry out. As the name goes "Centralized EXchange", you can tell it's meant for exchange and not for storing funds.

Is it safe to keep your money in banks? I would say that your money is so safely stored in banks that when disaster strikes, it will be so safe you won’t even be able to get at it. How much safer could it be? Sure, that may sound like a joke but it is absolutely the truth. When you need it, you’ll only be able to pull out $200 a day of it…

And thats what i dont like in the first place. In my latest deposit, they've been asking on where the funds came from, and on the time you do make out withdrawal they do ask out several questions
on where it do came from and some other verification on which it is really that a complete shit knowing that you've been able to store up your funds into them.
This is why i have decided that i do only store only the amount on which i do store or save up for emergencies but never ever put up all my earnings or profits in other various sources.
I do have some credit cards on which i do see for it to be a good option in building up your credit score just incase if you do took up some loan.

This is why whenever i do make out some transactions and needing that latest 3 months of bank transactions then i do really always fail
on this one.  :P

Banks provide security, but cryptocurrencies provide everything. Crypto's actual value is its decentralization - the ability to be your own bank without centralised control or risks. Exchanges are convenient, but recent incidents show their security is always at risk. You made smart financial decisions by using decentralised wallets for storage and exchanges. It follows cryptocurrency's principals of minimising exposure and maximising control. This method is not without drawbacks. It can be hard for the normal person to use and get to, which could slow down widespread adoption

Understanding that exchanges are marketplaces, not vaults, is helpful. However, it raises a issue: how do you balance centralised convenience with decentralised security and values? The crypto community continues to advocate for user education and more user-friendly decentralised choices. Your observation reminds us that crypto vigilance and personal accountability are essential

Banks rarely go bankrupt because they use our money to do some business and the payment we get is they secured our money but they will gonna simply ask for some little charges. Despite all of these things, when things get very tough, they often become inaccessible and you will gonna have a hard time getting your money back from them, especially when it reaches millions of dollars you gonna be interrogated by them. But when you keep it in your crypto wallets, you are free and no one could ever get it from you if it's fully secured.

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

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.

Am not a fan of banks anymore not like back in the days that almost every money I gain directly goes to  banks for safekeeping , I even had some time deposit for my children .

but things change when I learn crypto currency because I felt like being scammed of banks all these time and now I am in good hands investing in crypto.

so if you are asking me if it is safe in banks? nope aside from being more secure in crypto , it is also more chances of profiting , from the growth of each coin we are going to keep hold.

I think this depends on your definition of safe because I think to some level the bank can secure your money but I think there are limitation to it and that's why many people actually shy away from keeping their money in the bank. The experience I had early this year with my money and the banking system in my country has no doubt clear my thought of actually ever trying to keep my funds in the bank. So many people in my country were toture and frustrated in trying to get access to their own money because of the scarcity of the naira note and people were lead to starve and hunger even when they millions of billions of cash in their account.

Before bank operations, they always had higher authority, like the CB, which gave them some conditions that they would operate under. If a bank fails, they will definitely have to repay their customers whatever figure they had in their individual accounts, but as a customer of any bank, if you see or hear that the bank is having some issues, the best thing to do is remove your money from that bank and put it in a different bank or investment, which you think is safer. Some people don't like Bitcoin because of its volatility, but it's better to save money in Bitcoin than in a bank (like you said). Some people can keep huge amounts of money in the bank for more than two or even four years, but this is not really very profitable to them. Although it might be safe to keep money in the bank and leave it in your home, investing your money in the bank is not wise.

No where is safe, we just take the risks and wait for the potential outcomes. Banks are financial institutions that aides in the storing and management of our bank accounts. We're humans and prone to making mistakes with our money, one of the good reasons to store them in banks is because we can't store hugh sum in our house due to insecurities, and there's this one thing I'm acquainted with regarding banks, accessing our money, we would passed through some processes which I find to be a little bit of stress. Keeping money in the bank is safe or would you suggest to store them in your house? Trust me when I say, that's extremely risky and give more probability for us to make significant losses.

Bank investment is one of the most risky, interest and highly inflated investment models that most working class have been clogged with for a long time now,  and if care is not taken,  a lot of them are going to retire to meet nothing worth it on the long run,  just as you have rightly said,  I treat banks as a bus stop and not a destination for my money,  and that is the reason I only store the amount I want to use on my bank card and anything I want to hold my money for some time in form of saving,  then I rather hold a value-added assets like Bitcoin and the rest to be at a safer side.

I don't trust the bank and the bureaucratic process that is involved in its interest payment and security of funds so for that I avoid them in all totality at some point.

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 you're uncomfortable with them, that's fine because not all the banks are giving the best customer service and banking offers. Many of them even have the terrible unusual sucking of people's money without even giving the security and right reason for that. Even if the customer didn't do anything and not connected to the mobile and internet banking, they still have some unexplainable issues that happens. Also, sometime in the future when an economy collapses and you've got money in the bank. They are eligible not to allow you to withdraw money because that will add more damage to the economy and that's what happened in Lebanon.

When it comes to external security breech, to me I'll say its safe to keep your money in the bank, provided that they are licensed and they have insurance. Before I started bitcoin all my savings was in fiat and I hardly encountered any issue like someone breaking through my bank account to steal my money or an accountant fraudulently stole my money no way. But even with the credits I have given to fiat banks I still  don't see it healthy for my savings to be in fiat when we have Bitcoin, meaning dey can be safe but due to inflation in fiat currency I would not want my savings to be affected by that, moving your savings from Fiat to bitcoin would be a great idea. Some banks are know to partake in some fraudulent activities like taking above the required amount of fees for transaction and that's a bit annoying.

But due to the kind of fraudulent that takes place in most banks, I conclude that keeping your savings in the bank is not safe at all, I have heard of some persons complaining how bank took some of their money unknown to them and after they've applied for reversal they get promised by the bank keeping their expectations on the high without effecting any changes week later.

Most of the time when people save money in bank then due to harsh situations of country bank close their money and don't allow it to take out when they needs. Instead of keeping your money save in bank one should invest in any business, cryptocurrency or should buy a piece of land because in such way your money will be saved and also it will expand as the time goes on.

Cryptocurrency is save but it depends on you that you are investing in a coin which has a fruitful results or in a coin which has no value. All the crypto coins are not profitable so if a person think that if he invest in any type of coin and it will make him rich then it will be wrong because all coins cannot make you rich and shine your destiny. Among crypto coins bitcoin is the first and foremost important coin which will be suitable option for those who wants to save and increase their money for their children and family.

Not all banks can provide you the insurance and assurance that you are expecting, even if they tell you that they are insured, if you have any problem with your money like losing your money in their custody, you will be affected heavily because not all banks will really prioritize your situation. What more if it happened to be a nationwide problem, it would be very hard for them to accommodate every customer they have and it would be a hassle for you in checking if your money can be returned to you.

I personally don't think bank is safe but I have a bank account and has a small amount of money into them, I'm using it for the ease of my life like I don't have to carry much cash whenever I go out and the ease to pay my utility with in my bank. I take full advantage of the bank without putting majority of my money into them, I just want the convenience that they offer.

I clearly understand what you are saying and I grab your points, if you read towards the end of my post I concluded by saying keeping your savings in the bank is not safe at all. Anyway I like the fact that you are sincere with your words, it will not be a shock to me that those who started by saying fiat banks are not safe, have more of their savings in it, yet they pretend as though they trust the wallets that their crypto is in more than their fiat banks. The insurance from bank will create a kind of trust in its customers towards the banks, but in real sense they are not guaranteeing every bit of your money back should in case any thing happens. Thanks mr abel1337 for your contribution.

You are both correct in what you guys are saying, but as for me,,, I do say that nowhere is safe to keep money or save money, even the fiat banks are being controlled by the government and some organizations. However, Hardware Wallets (https://www.quora.com/What-is-the-most-secure-type-of-cryptocurrency-wallet) seems a little bit saver than fiat, because it is not controlled by anyone even the government can not control it.
Some fiat banks are not safe because many accounts can easily get frozen and they can easily be monitored if a lot of money starts entering it, but a hardware wallet isn't like that because it's private.
Moreover, as a young person that's still grownup and trying to save money, I still have to save money in a fiat bank just because that was how I grew up to see people close to me using it without any harsh complaints, although some of them are a bit frustrating most times.

Since we have been keeping money in the bank before the invention of cryptocurrency, I think we should still have confidence in the process. If we don't keep our money in the bank, where do we expect to keep the money. Money is meant to be keep in the bank not at home unless we decide to use part of the money to buy cryptocurrency. Cryptocurrency is another type of money which is majorly transacted online. Cryptocurrency is meant to be keot in a wallet while Bitcoin is meant to be keep in the bank for all due safety.

and  also we have seen many bankers getting bankrupt , maybe because people now learn how to have their own money in safe and how ti invest this is what Banks cannot provide the proper way to earn.
they are using our money to Bleed us while they are earning and making money from our own money.
then what if the price badly goes down? how can you withdraw your funds at loss? never invest everything in either banks or altcoins , better to have your own funds outside for expenses.
better to have your day job for your daily expenses and for emergency purposes ,just let your crypto in holding for long term.

We can't just condemned bank like that because the matter what happens, we will still come bank the bank for purchasing of things in the localities. Cryptocurrency is for online only and there is no physical cash in that. And now you want to buy some expensive things and you keep the money in your bank for like 4 to 6 months to buy the things. So banks are still necessary platform to keep money in different good ways. In bank you have friends who know you very well in the banking halls so anything happens you contact the the person and and everything is very physical.

But cryptocurrency is unseen and everything is base on trust. So banks are also good in this matter. Yes it is good to invest and hddle but we can't do without fiat currency for now since many countries have not adopted bitcoin as a legal tender.

Same thoughts, The Bank is still important, we still need physical cash and the bank still is important. It has a lot of benefits if you have a debit and credit card. These days most of the establishment are accepting cards and only a few stores accept cryptocurrency so the card is the most reliable to this day.

I have both money in bank and crypto but I prefer to hold my money in the bank if I'm not going to invest it in buying coins.

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.

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.

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.

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.

If I may ask, why do you think bank is the worse place to keep money? Have you being ever scammed by bank before?
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.

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.

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.

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.

  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.

Yes, that's the point of centralization in Banks, right? Being able to trace transactions. But then, a lot still happens under the nose of these centralized methods. The bank you claim to be safe can actually wake up one day and block/restrict your account. How would you react to that? BTW, how about the robbery that happens at the bank? Is it traceable? You also speak of an account owner logging in... With crypto, it isn't possible for your funds to be gone in the first place because you are the only one with your keys (unless you were careless). Also, so many protocols that the bank has is sidelined by crypto because crypto doesn't care where the sender or the receiver is, nor does it care who they are.

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.

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.

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.

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.

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.

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.

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.

Whether it is safe or not depends on what bank you use and whether it is supervised by the financial authorities of your country or not, and whether the bank you use has a bad record or not, maybe to save money at some time is fine in my opinion, just use the bank according to your needs in my opinion.

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.

The bank is not safe again so we need to know what we are doing so that we don't fall victim to what we have no concrete knowledge about. Bank had been a place where we can store money and our other valuables but now people had begin to learn and look for a better place they can keep there money. We don't need to dump the bank immediately because this is a gradual thing that would finally happens in the world and it only going to take some times.

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.

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 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 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 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.

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.

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.

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.

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.

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.

It doesn't make sense to leave money in the bank while their are good investment to invest money that will make the money to become more valuable in which profit will be made. With the level of the inflation right now, it is a wrong financial decision to leave money in the bank. In the bank the money will lose value by little charges and inflation. Aside cryptocurrency their are so many investment to invest money  that will definitely yield profits.

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.

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.

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.

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.

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 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.

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.

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.

Keeping money in the bank might be safe but it is not a good idea because leaving money in the bank for a longtime will definitely lose value. If you want money to be value I think just storing it in the bank is never a good idea. Instead of Me to keep my money in the bank and not knowing what to do with it, i will prefer to invest it in bitcoin that is reliable, this investment will be a long-term investment that will bring profit for me than keeping it in the bank.

Here I am agreed with you but still we have to keep in mind keeping money in bank is not good for the every country with things are taking quick changes, and we are also facing many issues in developing countries like freezing money and bank is going to be shutting down without paying money back to customers these options are also now having trouble for the millions in many countries then mostly peoples have no options, or they face too many troubles as well like we have in our country too many banks gone without paying and many peoples died due to having not suitable backup.
But still as things are going into developed countries and many other those have strict rules it's not bad at all but still we need to keep eyes on all around for the latest updates and other relative things as well.

Keeping hard money in the bank is safer than keeping it with yourself. Those who keep in the bank will get this benefit. But in terms of investment, I think investing in cryptocurrencies is safer than banks. People are now almost anti-banking due to some other reasons especially inflation. They try to hold Bitcoin or other coins they think the bank now holds. It is the safer crypto investment than banks that can increase your confidence.

Not entirely because banks doesn't need to give back the deposits completely if they go bankrupt and they don't give any kind of financial compensation if your locker stolen in anyway or destroyed in natural calamities. That you obviously knew if you read what you signed while opening your bank account.

Investment in crypto currency is not safe as saving money in bank or in your own safe deposit because investment comes with risk which means the value of assets can either grow or fall.

In banks or centralized exchanges, our money isn't secure because we don't personally hold the key to our funds. Entrusting our money to them means placing it in their care. A safer option is to convert it to bitcoin and store our bitcoin in a non custodial cold storage hardware wallet. This ensures it's under our personal care, safeguarding not only our wallet but also shielding it from the effects of fiat money depreciation due to inflation.

I'm not richman but i think bank is safe and crypto wallet safe better than bank.

Banks and centralized exchange aren't place where we ought to save our money. Especially in centralized exchange, banks could be used to save just very little amount that you'll be using any time sooner and that money could last there for upto months but it's not advisable to keep you funds in a centralized exchange for even 24h due to the fact that it's the major target for hackers and they are working tirelessly to make sure they come up with solutions to crack through the exchange.

It is no longer new that the money that is kept in the banks doesn't appreciate rather it depreciates due to the changes that banks charge but apart from the money used for investment in bitcoin or anything else don't you think that the banks are the best place to keep money? Besides bitcoin isn't generally acceptable for payment in most countries if all the money you have is used for investments how wil you go with your day to day expenses? I think until fiat is totally eradicated it is impossible to survive without banks imho.

That's true I also think that centralise exchangers are more unsecure place for saving our money. Like if we remember the ftx incidence then we will got the things. I will say that it is better to holding your fund in bank rather than holding in centralised exchangers. But for saving our fund the best way is holding the fund in a cold or hardware wallet I mean the decentralize wallet. Where we are the owner of our own Bank. No one have control in our money.

Every place has its own level of risk. Even keeping your money into your hand can causes loss in some certain scenario like you can be rob or your money can be stolen. So no matter where we are keeping or investing our money we need to learn about its risk part and create a stratgey to secure our money in case we encounters those risky part.

Keeping money in a bank is not so bad but when we talk about the value of money then bank will not allow your money to enhance in its value so it will be better if you save your amount in something that will show an increase with the passage of time like that of investment in Bitcoin, gold and some other desire field.

We need an emergency fund but we also need a strong investment platform that can make our future bright so divide your money as some in bank and some in investment so you will neither be worried about future nor about saving for the immediate needs.

Indeed, no one knows the lifespan of the cex will be longer even in calm conditions, suddenly there is news of service closures such as some cexes that may be low tier. I grouped several cexes either to capture daily coins or support me in buying certain coins for my work. In my experience, if you have got the price and pair you want, you can just send it to your personal wallet according to your taste. because the most appropriate is to keep it under your own control.

The more time goes by any Cex must have a notification if it collapses and requires taking emergency steps, of course users are allowed to take their assets. Keeping money in the bank has its advantages and disadvantages, including storing crypto as well. The difference is that crypto can increase dramatically when bearish comes.

Well, inflation is always a problem when saving large amounts of money in the bank. That's why banks always offer a percentage that can be obtained for people who save their money there. However, in terms of security, all along, I thought keeping money in the bank was a safe thing. Because of their centralized nature, and supported by the state, banks are sometimes responsible for returning customers' lost money. This has happened several times in my country. Cases of money theft often occur in bank accounts, but when these people complain about this to the bank, the bank takes responsibility and improves its security system. Personally, I have had no problem-saving money in the bank until now.

saving money in the bank and investing in bitcoin is a good thing, but i personally prefer to keep more of my money in the bank and some in bitcoin. because after all you need stable money, which can be used as savings, investment, etc. when you invest all your money in bitcoin, it is quite risky that the value of your money will go up and down following market prices and that is not good for backing up your finances.

But I don't understand those of you who say banks don't have to return all deposits if the money is stolen or damaged. I mean don't we have it saved in our account and we can access it/withdraw it anytime and anywhere? Unless the entire bank is closed due to bankruptcy or a natural disaster that destroys all branches of the bank. But I think it's impossible for that to happen.

If it goes bankrupt, several banks have gone bankrupt, but in my country there is a regulation that all customer money must be insured with a deposit insurance agency. Not all banks have that standard. But the big banks in my country have a kind of insurance that means your money will be safe even if the bank goes bankrupt or is damaged due to natural disasters.

I think banks are not an investment vehicle but a place to store cash or fiat. You cannot compare banks with any investment (including crypto) because banks are not investment vehicles. I think it is almost impossible to avoid inflation, even if you save assets or invest in crypto you will still be affected by inflation because inflation also affects crypto prices.

Saving all your cryptocurrency in a non custodial wallet or hardware wallet. But we should not also skip the security part of holding your private keys by your self and keeping it safe for recovery purposes. Irrespective of the fact that non custodial wallet are better than banks or exchanges, it is still very risky especially if you are a careless type that can easily misplace your seed phrase, you'll suffer from loosing all your cryptocurrency. So we also need to be careful with keeping our  seed phrase on one piece.

The commercial banks have done a good job keeping people's money safe for ages, and now there's something better. It doesn't just store your wealth but gives you interest over time for keeping your wealth. Cryptocurrency is where most people store their wealth nowadays but it doesn't change the fact that the banking institution did and is probably still doing a great job keeping money.

Commercial banks are a good place to keep your money but isn't the best place. Considering how the value of one's income reduces over time there. Apart from that reason .. the banks are a safe place to keep your money.

As I said incase of bankruptcy they don't need to return your entire deposits at all or that's how it works in my country.

Let's say someone has 1 million dollar cash in their bank and the bank shuts down their operation due to bankruptcy then they bank may return that money they insure which is not always the complete value but the minimum value like the insurer will pay up to 100K for everyone but anything beyond if something that we have to burden as loss.

It is safe to keep your money in banks. But only if it is a real bank and not a small bank that is not around for many years. But for me I do not like to keep my money in banks.

I am not worried about the bank having my money going to get robbed or something like that. But just having my money and not going to a bank makes me feel more secure with my money.

Keeping money in the bank is safe in some aspects and very risky in some aspects. as each country's bank is under the control of a central bank, so there is less chance of losing the deposit here. But if we look at the inflection, we can see that there is a big inflection every year and because of this, if I deposit money in the bank, the value of that money decreases day by day, in this case it is a risk for us.  So we would be better if we invest the money in a potential asset like real estate, gold, land, bitcoin etc. or it would be better to convert it to dollars to keep the money stable. Because the dollar cannot be touched by inflation

I doubt he will do it mate because He is promoting His own site here so  he does not care about misleading instead all he aims is users here to use His exchange and that is the sole reason why we must not trust that much those who will try to attack others just to promote  their and that is what this thread is all about. he is accusing banks to be not safe when his own site has the same features almost.

A question to those who claim that it isnt safe to keep money in bank, and dont support money diversification between several banks - where do you keep your money then? For example if you are in Europe, and having a «white» salary, you will never get it in form of cash. You will also have limits on the amount of cash you can use, withdraw, deposit. It might be inst something special when you dont have a lot of money and immediately withdraw salary from ATM. Another case if you have for example 10k and want to buy something expensive. Yet still a question - where would you keep a lot of money if you dont trust banks? Under the pillow? In a safe at home?

Don't compare Silicon Valley Bank to your FMCPAY Exchange. and not all bank in every country, going to get closed right? And i googled about it. users of Silicon Valley Bank had insurance. all depositors got their money back already. So there's no issue. But exchanges are too much risky. Cause if exchange get attacked by hackers then exchange Owners won't give user money back even a exchange themselve can scam people by pretending they are under attack or hacked. So bank is best than exchanges

Yes you're right,in my own opinion I think keeping your money in the bank is very safe and secured more than exchange.reason is because,probably if you get scammed unknowingly you can rush to the bank immediately so as to track the transaction that is been initiated by the scammer,but for exchange if you get scam or maybe your account was hacked as the case may be,I don't think if they can trace the transaction either, because is not safe and secured so in this case I think keeping your money in the bank is the best option.

arious kinds of marketing are carried out to deceive beginners who do not fully understand crypto and say that storing money in banks is not safe.
Now, to meet real personal needs, you still need a bank, paying electricity, water, internet bills and other virtual transactions still need a bank. So if you ask whether it is safe or not, it depends on the bank and its users. but if the OP says that saving on Exchange is promoted as safer, that's complete nonsense that won't provide any benefit.

all banks have risks because they don't really keep 100% of our money but only turn over the remaining 20%, that's why big banks can go bankrupt, that's what I learned, correct me if I'm wrong

Don't compare a bank to a coin exchange because I believe a bank is safer. But what about a bank and a cold wallet?

Its suppose to be misleading. Some banks shutting down and liquidating doesn't mean banks in every country will follow the same. All of us not living in America. Even if so then exchanges also hacked and shutting down with liquidating. So why should people trust on exchange for kept their money in it even FMCPAY Exchange is new name, I'm hearing about first time. I think, banks maybe useless for making profit from money but for security, we should trust bank than others thing like exchanges. Even bank return some money too as much they can afford

That's so contradictory, centralized exchanges can never be a better option to safe than through self custody, this exchanges are prone to getting hacked or bad ceo or anything that happens to them and all your funds and assets are lost, and worse they don't offer any guarantee if anything happens to their company like in the case of Mt gox and many others that has suffered from the crash of centralized exchanges.

That's true, but it seems like people have known about banks for a long time so they can understand the function of banks and also don't easily trust places to store money on exchanges or other places if they don't understand and do research. Apart from that, banks that are well-known and trusted and have a good reputation are the choice of many people, so I don't think what the OP said will be easy for the public to follow.
In my opinion, saving in the bank is very safe and also useful and to this day still has an important role for society. And apart from daily needs, transactions are used to pay all bills and other installments. And it can also make it easier to manage personal finances well.

actually in my country I don't need banks to pay all of those instead our local exchange can be use to pay all our bills but first I need to convert my crypto into fiat before pushing the transactions in which very appropriate and less time consuming.

and about that exchange , I have added them to my black list to never use .

Banks are not supposed to be compared with exchanges because those two things don't function in the same way or provide the same services. An exchange provides trading services to its customers, you can buy and sell cryptocurrencies and do all sorts of trading and exchange stuff. On the other hand, a bank provides financial storage services which means customers can store their money and funds in a bank.

It's more suitable if banks are compared with wallets because wallets have the same functionalities as banks to store assets for their users. Security for both wallets and banks isn't bad, but if we talk about privacy, a non-custodial cryptocurrency wallet gives you more privacy without a doubt because with banks, your funds are kept and managed by a third-party but with a non-custodial wallet, you are the only one having access to your funds.

Apart from the risk that are their while keeping your money in the bank , keeping money in the bank is not just the best because money doesn't  not add value,  money depreciate with time . Bank is not safe if you want to gain financial height, some people keep their money in the bank for longterm thinking it is safe for them and do them good not knowing thst the bank is a place to lose the value of your money when it is stored for a very longtime.

There are so many risk that is involve when you keep your money in the bank, one thing I don't like about this bank is because they have access to do anything in your account, this world is corrupt to the extent that even those people that work in the bank, most of them are scammers,just imagine opening a bank account after you have gotten your BVN, immediately after receiving your BVN someone called you, telling you that he's calling from customer service and even call the name you use to open the account, and they started asking you to provide your BVN. my question here is that how did this people gat to know your details I mean  your account name,and how did they get to find out that you have gotten your BVN?

I wonder when i heard about that. But I didn't feel safe to keep Money anywhere except banks, but if banks start shutting down then don't know who will give the assurance of return. But Op, Exchange suppose to be more dangerous than Silicon Valley Bank lol. Its hard to believe such new individual organization or I don't have any idea about such thing. Crypto wallets still aren't safe. You have options to invest in asset or somewhere esle but you know what? Sometime you don't have any option rather than trust banks in your country for security. And of course not every banks are going to shut down

Correct. but banks that have good accreditation have reserve funds, so that if something bad happens they still have savings funds. All companies or business entities have the potential to go bankrupt, therefore we must choose a bank with the best accreditation to minimize risk.

The first purpose of banks are, to give safety of our money. And because of that the follow many rules and regulations and established many security is so that nobody can steal our money. Even they also have refund policy if something bad happened with yout money. You don't need to worry if bank get on fire or get hacked or something else that cause lost money. This is so rare case where we are seeing a bank shutting down. but they should have insurance where they will get good amount of money give user's money as return.

Actually, it depends much where the bank is located and what kind of laws are applied to it, before calling a financial institution to be safe or not. In countries which we could consider to be developed and free, I could say banks are one of the safest ways to keep money/Fiat. On the other hand, there are countries like mine, where we have very bad precedents on banks freezing our assets or even not allowing people to withdrawal all their money at once. It is what we call a "corralito" here in Latin America.

When comes to Bitcoin and cryptocurrency in general, the best option is always to keep funds in a reliable hardware wallet or even to generate our own entropy and use that entropy to get our own set of private keys.
It baffles me when people around the internet start to share their heartbreaking stories on Lossing millions they had in a hot wallet or a software wallet. It is beyond recklessness.

That's so contradictory, centralized exchanges can never be a better option to safe than through self custody, this exchanges are prone to getting hacked or bad ceo or anything that happens to them and all your funds and assets are lost, and worse they don't offer any guarantee if anything happens to their company like in the case of Mt gox and many others that has suffered from the crash of centralized exchanges.

Now that you've mentioned about being bad ceo. It's now a factor nowadays as a way to determine on which exchange you should trade. But if it's about keeping your money in the exchange or the assets that you have in crypto, it's never recommended in doing so. But I know that many of us have been staking and joining those launchpools because of the potential reward that we can get. If you are into it, I'll give you a reminder that you should only do that with an amount that you afford to lose because it's still risky, no matter what you do and whatever the name of the exchange that you're trusting.

Banks do not look reliable because they are controlled by the state. But some part of the assets may be kept in the bank.
Keeping everything in cryptocurrency is quite dangerous. Assets need to be diversified.

Keeping money in the bank can be safe to an extent but for me I don like keeping money in the bank because bank will be using someone's money to trade and do all sorts of things and at the end of the month they will charge someone for the transactions they do.

However,  somehow I feel that most of the money that scammers do collect from our bank account i think sometimes the bank are responsible for it. Imagine where someone will go to the bank to collect money and on his way coming back he got ambushed by unknown men, most times this is done by banks and sometimes it's done by someone who's monitoring you. Sometimes I use to ask myself, this people that will call you and give you some run down of your account details who are they, are they not former bank workers.

Moreover,  for me I prefer to keep my money in my wallet so that if anything goes wrong I will know is my fault and not where I will entrust my money to bank and at the of the day they can't protect it well.

Why do you think that keep your funds in the bank is very risky? But we have been using banks before the adoption of cryptocurrency so why now you see that disadvantages in putting your funds in a bank. We don't have to put all our eggs in one basket that is why we need to invest also have some funds in the bank so in case anything happens to your crypto portfolio, you can quickly go to the bank and withdraw your funds for anything you intend to do with it. We should not just write because we want to impress some group of people.

Well Said, i keep wondering why most people keep saying that bank is very risky, if I May ask what really makes you think that bank is very risky? Bank can only charge for maintenance fee if there's any other thing attached you can go to the bank to complain to them, I'm pretty sure that they will have things figured out for you,  bank has been there for so many years but yet no one has ever talked about the risk. However if bank is that risky, did you think people will still continue using Bank as a means of saving thier money? You can only consider bank been risk depending on how you manage your bank details, if you secured your bank details there's no way you're going to get scammed.

Our money is saved in the bank but why are we not utilising this money in any investment to make its use in a better way. Our saved amount in the bank can only be profitable during any emergency but if we invest our money in something beneficial then we will continuously take profit from it but for investment you have to learn well while in case of saving you have no need to learn from different courses.

But it's up to a person and if he does not need to make an investment then he can also save it in bank and bank will keep his amount safe no matter what happens to it bank will give you your saved amount in exactly the same amount so both are beneficial but if someone wants to grow his money then he should invest.

Actually saving money in the bank is most secure place but depend with your history activities how potential your mobile phone hacked and loss access with your money in the bank. In my country, many hacking cases happening for some one holding or saving their money in the bank with the mobile banking account got hack, its easily for scammer how sending all amount in your bank book without get refund because some bank regulation its your own mistake.
Better not put all your money in the bank, spent half or 60% above in digital or cryptocurrency assets by holding stable coins with low risk or price decreasing and put few percent of your money in the bank as daily needed to make transaction. I hate with some Bank regulation less responsibility when their costumer losing money in the bank.

Op I don't really get your point,your points are so misleading to someone new in this space.First,the centralized exchange you said it's secured to store crypto is totally wrong, centralized exchanges are not meant to store our crypto rather they meant to sell,buy and trade crypto any crypto enthusiast that store his or her asset on centralized exchange will see nothing but the end result of been scammed.Crypto should be stored and secured in a non-custodial wallet.
Banks are safe to keep our money as they are backed up by government.Banks are hardly bankrupted except it's a bank that doesn't have tight security defence.If an individual wants to save his or her money in the bank, accounts of how reputable and trustworthy the bank is should be emphasized before saving his/her money.Many people are scammed because they shared their personal informations to scammers.

Yeah securing our coins in the centralized exchange is worst than the traditional bank because it is very vulnerable and prone to scammers and when it happens there is no one be blamed but you and there no way you can recover your lost coin but when it comes to our traditional bank being bankrupt they already have an insurance in such a situation meaning that there is still a way of you getting back your money back it will only take some process and time.

Keeping money in banks is safe but there are many people who prefer investing in cryptos rather than banks. Although crypto is dangerous if you understand the correct position of the market and invest in the right currency like bitcoin it is never dangerous. The government has to pay tax to keep money in the bank there is no such hassle for crypto.

No matter what they/we engage in, I would still be wise to involve in those things with little funds that we can afford to lose, not using our entire funds just because 9f promise of profits, in most cases when people get scammed it's mostly a greed function, cause I can't see how people end up in scheme so good to be true that nobody should believe in but they still try anyway.

It's better to keep your asset in your custody, no exchange can be trusted, worst they can even seize your crypto and jts gone, just use then as a means to an end to accumulate bitcoin.