How Safe is Storing Fiat in Gatehub?

[omar]

Anyone know if it is less safe to store Euros, Dollars, Yen, etc on Gatehub vs in a Bank Account?

[T8493]

6 minutes ago, omar said:

Anyone know if it is less safe to store Euros, Dollars, Yen, etc on Gatehub vs in a Bank Account?

If you compare GateHub with bank account, then the answer is very likely yes - it is less safe to store currencies on GateHub than "storing" them in your bank account.

Although you haven't explained what do you mean by "safe" (default risk, cybercrime risk, etc.)

 

[Bagheera]

Agreed... Banks provide deposit insurance... Crypto Currency Exchanges DO NOT...

The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Canada, Australia, and Europe have a version of this also...