Is it safe to keep your money in bank?

[Amejoaquim]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

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[tsaroz]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

Yes. Crypto is perfectly good investment. But the golden rule of investment is that you don't put all of your eggs in the same basked.
With possibilities, crypto comes with risks. Risks are everywhere and so are opportunities. The best way to manage your finance is to diversify your investment.
Modern banks in most of the jurisdiction has to go through regular audit and keep their finances diverse and within the regulatory limit. Saving on a bank is not a risk in most of the jurisdiction, there might be a hassle to get your money on time when things are not going well, but I don't think there is a situation where a depositor on a bank has lost his money. Investing again is risky.

[Hispo]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

If someone is interested on the yield or the interest, then I would that say the best option would not be to deposit in the bank but instead get that money on treasury bonds, to take advantage of the government of the United States needing to borrow money to keep their things together.

Actually, now that the debt ceiling is going to be raised without problem those seeking for yield within the American debt system, in theory do not have much to be afraid. Referring to a default.

[mdzahed134]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

If you will compare about risk, definitely bank is lower risk than crypto investment. Because banks have regulatory board by the central bank so they can provide safety with your money but crypto is high risky for several things as like if you will keep your money in crypto here your wallet can be hacked or you can lost in trading also here is chances to big profits in short term.

[Japinat]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

There are no guarantees that these platforms are a safe alternatives when it comes to storing our money unless we hold it ourselves and place the risks on our hands. Banks are not any safe either even if we say that they are already reputable and century old because at any given time, these banks are vulnerable and that comes with a price that includes our funds stored in their banks. Furthermore, when it comes to risks, it's much better to invest it so that we can create another source of income rather than storing it in a bank where inflation rate is much higher compared to their interests.

[Desscount]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

If you will compare about risk, definitely bank is lower risk than crypto investment. Because banks have regulatory board by the central bank so they can provide safety with your money but crypto is high risky for several things as like if you will keep your money in crypto here your wallet can be hacked or you can lost in trading also here is chances to big profits in short term.

Exactly and in crypto there are so many scammers that they also have many ways to commit fraud,
there have been many cases of successful crypto wallets being hacked and of course this has become a concern,
even so saving money in the bank I think is just a waste of time.

[Blitzboy]

Keeping money in the bank is generally considered safe, as banks are typically insured by the government up to a certain amount. However, the interest rates offered by banks are often low, which means that the value of your money may not keep up with inflation in long term. Investing your money can be also a wise decision in keeping your money, but also it comes with risks. The stock market or crypto market for example, can be volatile and unpredictable. However, if your aiming for a long term, in investing in a diversified portfolio of stocks, bonds and crypto currencies has historically provided higher returns than simply keeping money in a savings account. It's important to consider your own financial goals and risk tolerance when deciding whether to keep you money in the bank or invest it. If you have a short term goal such as saving fro a down payment of a property, keeping your money in a savings account may be the best option. If you have a long term goal such as saving for retirement, investing in a diversified portfolio may be a better choice.

Your piece touches on finance 101 – the push and pull between bank safety and diversified portfolio gains. However, you're leaving out some vital factors. Consider the world economic climate. Rough tides can make 'safe' investments like bonds and stocks unpredictable. The crypto market? It's a roller coaster with its short track record.

Your financial standing also holds sway. A person under a mountain of debt can't gamble like someone sitting on a cash pile. Not to mention, the legal angle! Rules for crypto investments swing wildly worldwide - some nations welcome them, others slam the door. So, its more than just personal finance targets and risk comfort. A broad spectrum of factors steer your finance strategy decisions.

[Farma]

Personally, i don’t feel 100% secured to keep my money in the banks because you know bank also can be bankrupt, so that i can't believe it. Even i faced some issues in my country banks, i can't cash my money on time. But i think there are no 100% safe way to keep money in online or offline.

Well, as long as the bank is a national bank, I think they will compensate you for the losses you have when you deposit money there, because it is a bank managed by the government, and also has clear regulations.

If we compare security between banks and wallets, then banks have better security, and it's clear how you can find reports and those who are responsible for the assets you have. I once had a friend who lost his money in a bank, when they reported it, within 1 week, the money was back intact. However, if we talk about the advantages of investing, then crypto is far superior. however, I still feel that crypto is not a place to store the money we have. I still feel and use crypto as an investment and payment alternative on the internet. however, when it comes to saving money, I lean more towards banks or gold.

[gurunanakji777]

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.

[blockman]

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.

Thanks to this market that is opening the eyes of everyone on how we should keep our money and assets. While there are still people that can't avail to buy hardware wallets because they think that it's not worth it based on how much they've got so, some good wallets that are downloadable and free are enough for them.

In my view, performing KYC, 2FA, and Email verification does not provide a guarantee that your funds are secure on any exchange.

That in no way has a connection to the safety of funds. When an exchange says that your funds are safe, it's just all words unless proved by them during a tough situation they experience.

[nicolas222]

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

[tengui]

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.

if you are long term investing no one will advise you to hold on the exchange as there are chances of exchange being hacked or FTX events happening. to reduce the risk you should hold your crypto in a personal wallet, there are many private wallets that you can use and some of which you have mentioned.

[el kaka22]

Considering that we have seen some banks collapse and peoples money crash with them, I would have to say it is not. Sure for many years, even maybe for decades it could stay solid and no problems at all, but then one day it could crash and your money could be gone. Or better yet, to think that you store your fiat in banks is proof enough that it is a bad idea. Because we are talking about fiat here and we all know that fiat will be a terrible thing to invest into and if you think that you should invest and keep your money in fiat there is nothing wrong with it.

We are going to end up with a good result eventually, but that's going to take a while to reach and we need to understand the fact that it is going to take a while to get there, and fiat will slowly lose value whereas bitcoin will gain.

[wheelz1200]

In the US yeah at least up to $150k which is ferlderally insured.  If the banks collapse and the US does not back that insurance there are much more problems than you not having your money.  Most likely that money would be worthless anyway if we were in that situation.  Stick all of your wealth in banks nah, but is it "safe"?  Yeah in the short term I can't see that being an issue.

[SlimShadyMmp]

Where else are you going to store your money mate I suggest going double ways or dividing according to your risk management Crypto still require fiat onramps and thats why banks are required and basically crypto is not mainstream yet or maybe buy some gold if you are curious Wealth can be stored in various ways Make your decision

[Rengga Jati]

Is it safe to keep your money in bank?

Simple answer for this: NO.
there is always a risk of saving our money in a bank, there is no guarantee that our money in the bank will be secured 100%

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

Indeed,
Apart from those whose interest or profits are really too small, saving money in a bank is also not convincing enough. Not to mention if there is a monthly fee, then this is quite expensive. Deposits in banks may be the choice of some people, even willing to save trillions of money in banks, this is also risky. However, I personally prefer the money to be invested rather than just kept in the bank. Maybe because I have only a little money. Maybe this will be different for someone who already has various investments anywhere and also just keeps money in a bank vault.

[JeffBrad12]

Where else are you going to store your money mate I suggest going double ways or dividing according to your risk management Crypto still require fiat onramps and thats why banks are required and basically crypto is not mainstream yet or maybe buy some gold if you are curious Wealth can be stored in various ways Make your decision

diversification is always the key, always try to store money in various assets then it will be safe.
even though I always think bank as somewhat secure and what I mean with these kind of banks are those banks that are massive. which simply too big to fail.
even if they somehow collapsed there always ways for them to go back up again.
but then again diversification is honestly easy thing to do and it saves us from the possibility of losing our investments and money.

[Ultegra134]

Even if the bank system is stable, STILL the lowest interest i get on my Crypto is times higher than i will get for my deposit in a bank.
I know there is a risk included, but where isn't?
So back to our profile investment and never put money in one basket.

There are no guarantees that these platforms are a safe alternatives when it comes to storing our money unless we hold it ourselves and place the risks on our hands. Banks are not any safe either even if we say that they are already reputable and century old because at any given time, these banks are vulnerable and that comes with a price that includes our funds stored in their banks. Furthermore, when it comes to risks, it's much better to invest it so that we can create another source of income rather than storing it in a bank where inflation rate is much higher compared to their interests.

Bank deposits are perfectly safe for individuals; at least in Europe, they are protected up to €100.000 in the event anything happens, such as a bankruptcy. I don't believe that there's any valid reason to question the safety of bank deposits; it's extremely unlikely for a citizen to suddenly lose their money, unless we're talking about rare cases of capital controls similar to those that happened in Greece, and even then, no money was lost; only the withdrawals were limited.

The only risk you're taking when depositing money is inflation, which means that the money you're saving practically depreciates in value year by year. Apart from that, I don't see any reason to question the bank's safety. No other platform, such as an exchange or a different service, can guarantee the safety of your funds.

[suzanne5223]

Where else are you going to store your money mate I suggest going double ways or dividing according to your risk management Crypto still require fiat onramps and thats why banks are required and basically crypto is not mainstream yet or maybe buy some gold if you are curious Wealth can be stored in various ways Make your decision

Technically, it is not safe to keep money in the bank because we have some countries where citizen funds were used for something, seized by the government despite the fund being something that involves no illicit activities. Besides, before you can withdraw some huge funds the bank will ask you to go through some papers where they know you're the owner of the account, and the money is used to enrich the bank while they provide the owner with little or interest.
Having said that, most billionaires and Millionaires don't keep that money in the bank, they let it work for them or change it into gold.

[TribalBob]

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