Is it safe to keep your money in bank?

[vs2014]

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.

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[GeorgeJohn]

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.

[MIner1448]

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.

[Ben Barubal]

  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.

[oktana]

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.

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.

[Epaper]

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.

[atamism]

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.

[2Pizza410000BTC]

Is it safe to keep your money in bank?

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.

[Odusko]

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.

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.

[Romeotom]

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.

[Bushdark]

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.

[JayTrain]

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.

[Samlucky O]

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.

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.

[Samlucky O]

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.

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.

[bangjoe]

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.

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.

[Bushdark]

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.

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.

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.

[xeqoRameshAxueamExaqana]

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.

[JariKriting]

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.

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.

[Y3shot]

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.

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.

[cryptoWODL]

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.