Is it safe to keep your money in bank?

[Teraboy]

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

[wxa7115]

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.

[Bollexz1]

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.

[LogitechMouse]

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.

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.

[Farma]

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.

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.

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.

[killerfrost]

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.

[cafee_orange]

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.

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.

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.

[someone703]

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.

[masulum]

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.

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.

[FireDAOJackie_Z]

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.

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.

[Orange89]

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

[Mr.sprin]

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.

[Patrol69]

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.

[bakasabo]

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.

[bocyaj]

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.

[ultrloa]

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.

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.

[traderethereum]

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.

[Xal0lex]

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.

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.

[ivankoh]

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 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.

[Weawant]

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.

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.