Not your keys not your funds Banks

[SmartGold01]

Have you also thought of the potential harm that may occur during this process of trying to control your assets by yourself? Okay, let us also consider the possibility of keeping money in digital currency for instance holding bitcoin or any other altcoin as an alternative to save and secure one's assets or money. Do you also remembered that the painful thing is to completely loss access to your asset because in cryptocurrency all you have is to safe guard your private key, seed phrase or alphanumeric keys or whatever. But with bank you could start the process to have access to your bank account.

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[dezoel]

Banks do not physically store all deposited funds but instead utilize them for lending and investment purposes, maintaining only a fraction of the deposited amount as reserves. Keeping you money in a bank is a risky idea even though that is how it has been for a long time. There are other options to pick from rather than keeping all of your money in the bank. Rather than keeping all of your money in the bank, invest a portion of it in bitcoin, invest part of it in starting up a business, put some part in stocks or real estate. A $10000 sitting in your bank for 10 years will not give you the same returns as it would if you put invest it in one of the alternated schemes listed above that you understand.

Even the banks themselves don't idle all the money they have because they know that it is a bad idea. We can learn from them and go for the recommendations that you have there. Some banks are established a long time ago but yeah, this alone is not enough as a definition of being safe because there is still what we called as inflation and its rates are growing from time to time. For those who don't know, it eats up the value of our money over time.

I believe that most people who deposit money in the banks are only doing it for the purpose of saving and it is different from investing. They don't expect too much for it and they also don't hold it for too long there. There is also a risk in investing.

[tabas]

Even keeping your own money in your own vault in your home won't be safe when someone gets to know that you've got a lot of it. So the risk of losing money in the banks, exchanges and even keeping it on your own vault is there. What you must do is to scatter them so that if one of the storage you've been keeping it had got problem then the others won't be affected. The other suggestions might just want you to deposit your money in different banks and have a lot of accounts and as for having Bitcoin, you become your own custodian of your own fund by having your private keys.

I believe that most people who deposit money in the banks are only doing it for the purpose of saving and it is different from investing. They don't expect too much for it and they also don't hold it for too long there. There is also a risk in investing.

It had become a habit and you want to see the balance of how much you have saved already. There's a slight percentage gain for putting it on savings but it's not what you are expecting to have the biggest return upon doing so.

[GeorgeJohn]

What I know is that theirs no way you can invest in bitcoin that you will not make use of bank, the thing is that you have to invest and after investing in cryptocurrency you have to know that investment have to do with advantages and disadvantages so if you know that investing in Bitcoin will be profitable for you, you have to follow the normal procedure

[GbitG]

So you believe them when they say you are going to have self-custody of your funds in the future in a wallet that you own? Don't you think the wallet which they say will be a self-custody wallet will still be under their control and the funds in it wouldn't be completely yours to use without them knowing about it or having any control over it? If that happens, it won't be a centralized system anymore even if it's about a specific percentage of your wealth.

Traditional and central financial institutions will never let you become the owner of your funds and keep them to yourself while you are using their product which you say will be a self-custodial wallet. They wouldn't give you complete access to your funds that way, there will be some way for them to have control or keep an eye on your finances or financial holdings and where you are sending and receiving the funds.

[SatoPrincess]

There's no where that you'll keep your money that it'll be 100% safe, whether it's physical cash, in investment, in the bank or through your wallet, there are robbers, scammers, natural or man-made disasters and bankruptcy can happen, so you'll have to take chances in choosing any option. But I think that one of the safest places to keep your money is in the bank, so far it's a trusted Bank that has built a solid reputation, they won't tell you stories anytime that you want to make withdrawals

The same can be said of crypto exchanges that have built a “solid reputation”. Remember FTX? They were reputable until they were not. You can never be too sure of what you are not in control of. You do not possess sole authority over the money in your bank account, the government can freeze your assets at any time.

the only disadvantage of leaving your money in the bank is if there's devaluation of your local currency.

Not true. You can save money in foreign currencies by using a domiciliary account.