Assuming a bank fails, or the bank/government decides to seize money on bank accounts, is it safe to transfer everything on Paypal?
Can it be used as a temporary swap deposit?
paypal is the least safe way of holding money there is, if they found the slightest reason to close your account and take your money they will
its safer to pile your cash into your grandmas mattress
PayPal super bowl commercial *new money* was confirmed hours ago referring to Bitcoin.
Of course, but remember what happend in Greece a few month ago : citizens could only withdrew like 100€/day.
And that's if there's still money in the cash dispenser, after waiting 4 hours in line.
What I want to know is if there's a way to transfer money instantly from my bank account to somewhere safe, all from my computer.
Paypal/Google Wallet/whatever Apple is doing might be temporary a solution. Or that's what i'd like to think. Crypto currencies are not a valid answer as far as I'm concerned.
paypal wouldnt have saved you in the greece situation unless you transfered before the limit hit, and then your money is sitting in paypal where it is at huge risk
you want an out of country bank account, swiss probably but you also probably cant afford that
Right on point, I obviously dont have enough for that, but I have too much if such a worst-case scenario happened.
I got out of the stock market and I'm waiting for better days, so I'm 100% cash now. And I really don't see myself buying physical gold.
Oh well, I'm gonna get fucked I guess.
>“Our vision of New Money includes Bitcoin,” a PayPal spokesperson wrote in an email to WSJ. “But to avoid customer confusion, we asked them for the video to be removed.”
I don't trust banks either but have a rather nice income (I'm a tax consultant).
I'm currently living in my country's capital city, renting an appartment with two friends.
Because I'm basically working the entire time I don't spend a lot of money so I did the following.
>Bought a patch of land close to where my parents live so they could keep an eye on it
>Rent it out to some guy who does some low level farming shit
>He puts a fence around it and lets some goats and shit roam there
Now I have to be honest, it isn't completely covering the loan and I might have taken some risk here since the guy won't be using it forever, but I sitll think it's better than putting it all in a savings account.
tl;dr using my income to pay off a loan instead of putting it at a bank
PayPal is at least as likely to fail as a major bank.
If you deposit your money in a guaranteed bank account, that's pretty much the safest you can get. In some countries, bank deposits are guaranteed by the government (usually up to a certain amount). In the US, there are FDIC insured accounts.
>Crypto currencies are not a valid answer as far as I'm concerned.
Then you're still cucking yourself. If you want to take control of your own money paypal is a fucking joke and so are you for considering them for this purpose. You honestly must be 12 to not understand how illogical your plan is.
>all this retardation
The FDIC ensures up to $250,000.
The government is not going to seize your assets, unless you are cheating someone.
If the international banking system collapses it will mean the death of modern civilization, in which case legally owning a parcel of land, a bunch of yellow metal, or a series of ones and zeroes isn't going to help you.
Seriously, are you looking to launder money or something OP?
You can keep your paypal balance, or any part of it, in different currencies. It's a good way to play the currency markets without paying fees. Example - I kept $1k in Norwegian krone for a few months, and then reconverted it into $1150.