Is it safe to keep your money in bank?

[Inspiron14]

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.

[1715213749]

1715213749

[1715213749]

1715213749

[1715213749]

1715213749

[woez]

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there is one thing or another, money is lost due to an unexpected incident, the Bank can submit a claim for funds being withdrawn from the guarantor and the customer may submit an original loss according to the terms and conditions of their party.

[mdzahed134]

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.

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. 

[bastian466]

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

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

[shinratensei_]

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

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.

[Dr.Osh]

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

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.

[lunnatic]

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

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.

[Blitzboy]

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

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.

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.

[gunhell16]

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.

[nyashenka]

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.

[inthelongrun]

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.

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.

 

[v3liana]

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.

[asawale]

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.

[nick_2017]

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.

[timoshani]

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.

[|MINER|]

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.

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 :")

[kawetsriyanto]

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.

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.

all security is in your own hands depending on how to treat it

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.

[Wakate]

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

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

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.

[axxo]

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.

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.

[QueenVera]

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.

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.