Is your money safest in a pillow, in the bank, or in a cryptocurrency wallet?

Whether you choose to store your money in a pillow, a bank, or a cryptocurrency wallet is ultimately up to you – BUT you should know what to expect if you were to pick any of these alternatives.

Brick-and-mortar for the win?

Yes, it is generally safe to store your money in a bank. Banks are highly regulated and insured, meaning they must follow certain rules and have insurance in case of any losses. But even banks cannot guarantee that your money is 100% safe from theft or loss. With cybercrime and new methods of fraud on the rise, it is important to take additional steps to protect your money and other financial information. This can include using secure passwords and two-factor authentication, as well as investing in an up-to-date, secure antivirus/malware program. Additionally, you should always monitor your bank accounts for any suspicious or unauthorized activity.

Plus, you can earn some money from your bank when you store it in a savings account or money market account. These accounts tend to pay a somewhat higher interest rate than a regular checking account, however, it is important to check the fees and terms of the account you choose, as they can vary. While banks are generally reliable and trustworthy, there have been cases of fraud and mismanagement that have caused customers to lose their hard-earned money. As such, it is wise to diversify your investments, keeping some money in the bank and investing some elsewhere. 

Rest your case

Storing your money in a pillow, well, doesn’t necessarily provide a convincing level of protection. It is possible that your money could be stolen, misplaced, or destroyed. It is also more difficult to implement an investing or savings plan if you are simply storing the money at home. We cannot in all conscience recommend utilizing your pillow for decisions regarding your finances, other than using it for a good night’s sleep.

NFTs’ day in court

Let’s just put it out there: investing in non-fungible tokens (NFTs) is not for the faint-hearted. NFTs can be subject to fast price fluctuations, therefore, it is important to understand the risks and rewards associated with investing in NFTs before you decide to dive into the market. That being said, NFTs have the potential to be a great way to diversify your investments and take advantage of the broader blockchain industry. Cryptocurrency wallets provide the benefit of faster and easier transactions, as well as added security with the use of encryption and digital signatures. Additionally, if you decide to invest in celebrity & influencer NFTs, you should consider a cryptocurrency wallet as an option for safekeeping.

Celebrity NFTs take the stand

With the increasing popularity of NFTs, major celebrities are now launching their own collections of digital art, music, and other collectibles that can be bought and sold through the use of blockchain technology. This has made it much easier for those interested in investing in celebrity NFTs to get access to these unique items and make a profit from them. Additionally, with the emergence of tried-and-tested dedicated platforms, such as Fametive, investors can trust that their investments are backed by reputable companies. The increase in the development of security protocols also ensures that investments in celebrity NFTs are safer than ever before.

Regular NFTs may have a lower sale price, but they also have less competition from other buyers, meaning that sellers may have an easier time turning a profit. Celebrity NFTs on the other hand often sell for significantly higher prices due to their association with a celebrity. This means that investors are more likely to purchase them, and more money can potentially be made. When it comes to money, you should always assess the pros and cons of your options and determine which works best for your needs.

Counsel, you may cross-examine

So, is investing in celebrity & influencer NFTs the right choice for you? Ultimately, it depends on the level of risk you are willing to take on. It is important to recognize that investing in NFTs comes with higher risk and rewards as compared to traditional investments, so it is important to do your due diligence and research the NFTs you are interested in before you decide to invest. When you choose to purchase NFTs on websites like Fametive, this is already done for you: we only promote high quality collections of verified celebrities and famous influencers on our platform.