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Author Topic: How do you store your fiat currency?  (Read 3353 times)
DuddlyDoRight
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September 20, 2016, 04:51:01 AM
 #1

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

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

I have faith that one day this forum will get threads where people won't just repeat their previous posts or what others have already stated in the same thread. Also that people will stop acting like BTC is toy-money and start holding vendors accountable. Naive? Maybe.
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September 20, 2016, 05:17:16 AM
 #2

Well, it is too early to store all one's money in Bitcoins. And a bank account is pretty much essential in dailiy life. I store %90 of my fiat currency in bank accounts with good intrest.

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September 20, 2016, 05:32:10 AM
 #3

Never have a big amount of cash but if ever I have some, I will open a savings account and put it in a bank.  I never saw someone who just store their money especially if its big.  It will be prone for fungi to grow in there.  Some put it inside their safe. 
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September 20, 2016, 07:15:05 AM
 #4

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

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September 20, 2016, 07:25:09 AM
 #5

Just regular savings account for me but I also got some money stored in premium/liquid domains. For larger amounts it would definitely be real estate. As much as I love Bitcoin, I only have money that I can afford to lose invested in it. Bitcoin is nothing more than a gamble at this point and there is no way I would gamble away my savings.
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September 20, 2016, 07:33:06 AM
 #6

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

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September 20, 2016, 07:53:32 AM
 #7

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

DuddlyDoRight
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September 20, 2016, 11:35:03 AM
 #8

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

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

I have faith that one day this forum will get threads where people won't just repeat their previous posts or what others have already stated in the same thread. Also that people will stop acting like BTC is toy-money and start holding vendors accountable. Naive? Maybe.
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September 20, 2016, 12:01:57 PM
 #9

Well, it is too early to store all one's money in Bitcoins. And a bank account is pretty much essential in dailiy life. I store %90 of my fiat currency in bank accounts with good intrest.

Beat me, same here.

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

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September 20, 2016, 12:37:52 PM
 #10

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




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September 20, 2016, 12:38:20 PM
 #11

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

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September 20, 2016, 09:02:52 PM
 #12

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

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September 21, 2016, 12:39:29 AM
 #13

I'm curious how people with a lot of currency; even if it's just $7,000.00, store it?
I've seen it done a lot of different ways in the US.

A bank ?
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September 21, 2016, 01:02:48 AM
 #14

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

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


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DuddlyDoRight
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September 21, 2016, 07:18:25 AM
 #15

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

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

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

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

I have faith that one day this forum will get threads where people won't just repeat their previous posts or what others have already stated in the same thread. Also that people will stop acting like BTC is toy-money and start holding vendors accountable. Naive? Maybe.
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September 21, 2016, 09:01:06 AM
 #16

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

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

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

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September 21, 2016, 09:38:40 AM
 #17

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

I've seen it done a lot of different ways in the US.
if a have that money i'm store my money in bank, cause for now is a save way to store money in bank cause any guarantee if have some problem with my bank account, but if i have more than $7,000.00 i will separate to gold bitcoin or exchange in another currency like USD GBP and EUR etc

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September 21, 2016, 09:41:30 AM
 #18

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

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September 21, 2016, 12:47:59 PM
 #19

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

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September 21, 2016, 02:06:07 PM
 #20

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

I've seen it done a lot of different ways in the US.
Obviously not under the pillow ) ) ) we are living in the 21st century and all the money is even card is a dollar a million dollars
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