Is it safe to keep your money in bank?

[I_RodimusPrime]

Once FMCPAY give scenario like FTX and Celsius, May god bless for those who put money in this CEX.

Also who the hell told you that KYC, 2FA is to secure your assets in CEX?  It's for secure your CEX account not to secure your assets in the CEX  . Please don't mislead the people. Correct this. 

[1715206674]

1715206674

[1715206674]

1715206674

[1715206674]

1715206674

[1715206674]

1715206674

[Pithaxz]

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.

[dlightag]

The experience I have now to keep money in Bank charge fees, is a waste of time and money will be keep depreciating by bank charge's, here in Africa, Nigeria precisely, monthly sms charge and ATM maintenance charge fees is something else that's make me get angry sometimes, instead I prefer store or save my money through cryptocurrency, especially using stable coin to avoid market emotion price, and it gave me Joy and safe, while making my withdrawal anytime I want by convert into local currency.

[bitcoinmoney2021]

To be honest, saving money in a bank has its advantages and disadvantages and there is no absolute guarantee that customer assets will not be lost or stolen.  . 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.

[yohananaomi]

To be honest, saving money in a bank has its advantages and disadvantages and there is no absolute guarantee that customer assets will not be lost or stolen.  . 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.

Nothing is perfect, but banks are still the best for storage. As long as we don't make mistakes that we may sometimes not be aware of, because of technological developments, crimes are increasingly widespread, but if we continue to do it in the traditional way, it will definitely be safe. It's true that investing in banks and investing in crypto always have advantages and disadvantages. Bank interest is not profitable, unlike crypto, which is very profitable. But the profitable or big profits in crypto will always be worth the risks that can occur. So always make updates and keep learning about all the things that might happen either in the bank or in crypto.

[Cling18]

To be honest, saving money in a bank has its advantages and disadvantages and there is no absolute guarantee that customer assets will not be lost or stolen.  . 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.

Nothing is perfect, but banks are still the best for storage. As long as we don't make mistakes that we may sometimes not be aware of, because of technological developments, crimes are increasingly widespread, but if we continue to do it in the traditional way, it will definitely be safe. It's true that investing in banks and investing in crypto always have advantages and disadvantages. Bank interest is not profitable, unlike crypto, which is very profitable. But the profitable or big profits in crypto will always be worth the risks that can occur. So always make updates and keep learning about all the things that might happen either in the bank or in crypto.

Banks always provide safety and security so it's a good choice to store our funds but if we seek profit, of course, crypto will be the best option.
However, if you store your funds in banks, you should comply with their regulations and policies. In crypto, we could freely transact with anonymity and that's what we couldn't find in banks.
There are really differences yet they both have negative and positive effects. Choosing will only depend on our personal preference and reason for saving. If it's for profit then go for crypto but if you see assurance, then choose banks.

[Ki kos]

It may be safe to keep money in the bank and take it out again and that depends on the bank.We can constantly see some banks running away with people's money. If you keep money in such a bank, your money will not be safe.I would advise you to choose a bank that you like well and then deposit money in the bank.

[Bobrox]

Bad experience saving money in the bank when our saving loss Bank not responsibility and many Bank costumer can't get back their money although loss or transaction did by Bank employees. Every countries have more several Bank and each Bank have difference cases or problem solve when their costumer loss their money, little Bank want to refund costumer saving if loss money if happening with malware or Bank fault, but some Bank loss responsibility and make costumer on bad position because losing money fault of bank costumer.
I don't think good ideas when holding saving in the bank, beside we need secure with our bank account but also have to check with Bank reputation when losing money will responsibility and refund for their costumer or not.

[Sophokles]

Is it safe to put someone in charge of the security of your money? It can be if that person has a trusted reputation and is still maintaining that trust. Still, there is a security concern because that person can turn evil in any dire situation. Your money is safe and secure as long as you are the one in control. Now replace that trusted person with a bank to get the answer to your question.

[gurunanakji777]

To be honest, there aren't any other options available to those investors who want to take risks with their money, because we all know that not everyone can handle the fluctuations in the crypto market. Moreover, there's no guarantee in crypto that your investments will only grow and not decrease, whereas keeping your money in a bank is generally considered safer. Banks even provide government assistance in case of a financial crisis, which is not an option in crypto. However, those investors who are not afraid of taking risks can certainly explore the world of cryptocurrencies. If you were to ask for my opinion, I would place more trust in banks rather than exchanges. On the other hand, if I were not to choose a bank, I would opt for hardware wallets instead of keeping my coins on an exchange. Exchanges pose a higher level of risk compared to banks.

[jossiel]

To be honest, there aren't any other options available to those investors who want to take risks with their money, because we all know that not everyone can handle the fluctuations in the crypto market. Moreover, there's no guarantee in crypto that your investments will only grow and not decrease, whereas keeping your money in a bank is generally considered safer. Banks even provide government assistance in case of a financial crisis, which is not an option in crypto. However, those investors who are not afraid of taking risks can certainly explore the world of cryptocurrencies. If you were to ask for my opinion, I would place more trust in banks rather than exchanges. On the other hand, if I were not to choose a bank, I would opt for hardware wallets instead of keeping my coins on an exchange. Exchanges pose a higher level of risk compared to banks.

It is true that money is safer in the bank and they've got products that you can use for your money that has lesser risk but more guaranteed profit.

The percentage of the rate that you'll earn from them won't be better than your potential profit in crypto. But with all of the banking collapse that has happened for this year.

We still consider it safe as long as it's backed by the government and do not put all that you have in there.

[Alpha Marine]

It is true that money is safer in the bank and they've got products that you can use for your money that has lesser risk but more guaranteed profit.

The percentage of the rate that you'll earn from them won't be better than your potential profit in crypto. But with all of the banking collapse that has happened for this year.

We still consider it safe as long as it's backed by the government and do not put all that you have in there.

The truth is money in the bank is safer than crypto. If you're playing it safe then the bank is your go-to option. It has its own risk too but it's relatively safer and back by the government as you say.
The major disadvantage is inflation. If you're keeping your money for a long time then be certain that inflation will eat deep into your savings.
Also, there's little to no interest on your savings while in crypto there's a very high chance you might lose your money or make a huge profit on it over a long period.

[Dzwaafu11]

Is it safe to put someone in charge of the security of your money? It can be if that person has a trusted reputation and is still maintaining that trust. Still, there is a security concern because that person can turn evil in any dire situation. Your money is safe and secure as long as you are the one in control. Now replace that trusted person with a bank to get the answer to your question.

To be honest, saving money in a bank is more secure than in a crypto because even if we have problems, we normally go there and complain, and our problems normally get resolved. If we have problems, did you know that banks normally help us track the account number that was used to scam us and try as much as they can to get the funds back? Or maybe after making some mistake while in the transaction process, or maybe the money did not go to the receiver, they normally refund our money back to the sender, which normally happens in crypto, but still, I’ll prefer to save my money in a bank than that in a crypto.

However, the money I’ll keep in crypto will just be an investment because saving money in crypto may result in someone losing that money when needed, or you may not get it back as you deposited it, while in the bank it will remain as it was deposited.

[Sophokles]

Is it safe to put someone in charge of the security of your money? It can be if that person has a trusted reputation and is still maintaining that trust. Still, there is a security concern because that person can turn evil in any dire situation. Your money is safe and secure as long as you are the one in control. Now replace that trusted person with a bank to get the answer to your question.

To be honest, saving money in a bank is more secure than in a crypto because even if we have problems, we normally go there and complain, and our problems normally get resolved. If we have problems, did you know that banks normally help us track the account number that was used to scam us and try as much as they can to get the funds back? Or maybe after making some mistake while in the transaction process, or maybe the money did not go to the receiver, they normally refund our money back to the sender, which normally happens in crypto, but still, I’ll prefer to save my money in a bank than that in a crypto.

However, the money I’ll keep in crypto will just be an investment because saving money in crypto may result in someone losing that money when needed, or you may not get it back as you deposited it, while in the bank it will remain as it was deposited.

If you can not handle your own money then you are not qualified to have them. It's not necessary to store crypto only as an investment. People can use them for their daily expenses. Your bank can be insolvent or govt can force your bank to halt your bank account transaction. What will you do then? Who you will go to complain to resolve your issue? Which one is better ..keep control of your own hard-earned money or give it to bank that can be insolvent?

[Patrol69]

Is it safe to put someone in charge of the security of your money? It can be if that person has a trusted reputation and is still maintaining that trust. Still, there is a security concern because that person can turn evil in any dire situation. Your money is safe and secure as long as you are the one in control. Now replace that trusted person with a bank to get the answer to your question.

You put money in the bank, after you put the money in the bank, the bank goes bankrupt due to debt, then who will take responsibility for your money, the bank official or the government. When a bank goes bankrupt, the users who deposited money in the bank are burdened with more debt, far from getting their money back. Just imagine that money that you have earned all your life is disappearing in an instant and you have to take responsibility for that money disappearing and burdening you with debt.

I have seen several reports on the global economy where many economists have discussed the possibility of a global economic crisis ahead. If the global economic crisis occurs, some important banks of different countries will go bankrupt, but we will have no choice, so we have to think in advance. I think it would be a good decision not to keep money in the bank in our current situation as there is a possibility of bank failure.

[Blitzboy]

Is it safe to put someone in charge of the security of your money? It can be if that person has a trusted reputation and is still maintaining that trust. Still, there is a security concern because that person can turn evil in any dire situation. Your money is safe and secure as long as you are the one in control. Now replace that trusted person with a bank to get the answer to your question.

You put money in the bank, after you put the money in the bank, the bank goes bankrupt due to debt, then who will take responsibility for your money, the bank official or the government. When a bank goes bankrupt, the users who deposited money in the bank are burdened with more debt, far from getting their money back. Just imagine that money that you have earned all your life is disappearing in an instant and you have to take responsibility for that money disappearing and burdening you with debt.

I have seen several reports on the global economy where many economists have discussed the possibility of a global economic crisis ahead. If the global economic crisis occurs, some important banks of different countries will go bankrupt, but we will have no choice, so we have to think in advance. I think it would be a good decision not to keep money in the bank in our current situation as there is a possibility of bank failure.

The banks! They have guarded our money for years, and we trust them. But guess what? They cant always win. You are right. They expect us, normal people, to save them in difficulties. How about that? Its disturbing how easily we accept this power-responsibility imbalance.

Watch altcoins and DeFi flourish. Why are more people interested in autonomous finance? They're sick of the old financial system's fragility and obscurity. We shouldnt trust banks blindly. We cant let hope and naivety prevent crash readiness.

Be careful. Before a financial system collapses, we must expand and find other methods to spend our money.

[RussianEnglishTranslation]

I only use a bank so that I can pay for things using a debit card or QR code. As soon as I can, I will switch to using crypto instead and be my own bank.

[Biznesmen]

I believe it's safe to put money in a bank, and it's easily accessible for daily use. But there are some exceptional cases where the bank will go bankrupt. When the bank was in a crash or crisis, what would happen to our money? Only a small amount will be gotten from the bank, and the rest will be crashed with the bank. So what can we do to avoid this crisis?First, improve personal financial knowledge.Second, keep track of your bank status.Thirdly,distribute your money into different bank accounts. and Fourth, make a long-term investment in the market.

[btc78]

I believe it's safe to put money in a bank, and it's easily accessible for daily use. But there are some exceptional cases where the bank will go bankrupt. When the bank was in a crash or crisis, what would happen to our money? Only a small amount will be gotten from the bank, and the rest will be crashed with the bank. So what can we do to avoid this crisis?First, improve personal financial knowledge.Second, keep track of your bank status.Thirdly,distribute your money into different bank accounts. and Fourth, make a long-term investment in the market.

well our money is insured for when the bank fails or the bank will try to get loans to pay their clients or basically get another bank your money will be transferred to

storing money in the bank is generally safe compared to if you stored your money outside the bank where it will be vulnerable to theft or natural disasters but keeping all your money in the bank for a really long time won’t be doing you any favors so i agree that we should all make long-term investments in the market instead

[Spaceman1000$]

My experience now on banks right now is I really don't store a lot of money there. I am treating banks nowadays as just storage of my daily used funds or some money that I can use and have access to anytime like if I need fiat to buy something from our local, I will just withdraw some of my money from the bank.
But for my investment in the future, I don't trust it with banks anymore.

Same here, the bank is just where I go to get my fiat. I don't store or save too much amount in my bank account nowadays, because I've heard instances where people's money just disappear without any explanation, sometimes huge amount for that matter. So what I just do is to keep few amount for my daily use if the need arises for me to get cash at hand.