Is Truist Bank's FDIC insurance applicable to cryptocurrency deposits?

7 answers

• InkwizzzApr 05, 2021 · 5 years ago
  Yes, Truist Bank's FDIC insurance only covers traditional bank deposits and does not extend to cryptocurrency deposits. Cryptocurrencies are not considered as legal tender and are not regulated by traditional banking laws. Therefore, any deposits made in cryptocurrencies are not protected by FDIC insurance.
  308

  154
• Malcom RoyalMay 04, 2021 · 5 years ago
  No, Truist Bank's FDIC insurance does not cover cryptocurrency deposits. FDIC insurance only applies to deposits made in traditional currencies, such as the US dollar. Cryptocurrencies are not recognized as legal tender and are not covered by FDIC insurance.
  258

  86
• Sha RIDec 16, 2020 · 5 years ago
  As an expert in the field, I can confirm that Truist Bank's FDIC insurance does not cover cryptocurrency deposits. FDIC insurance is specifically designed to protect deposits made in traditional currencies, not cryptocurrencies. If you are looking for a secure platform for your cryptocurrency deposits, I would recommend considering reputable cryptocurrency exchanges that offer their own security measures.
  408

  102
• fadliSep 26, 2023 · 2 years ago
  Unfortunately, Truist Bank's FDIC insurance does not extend to cryptocurrency deposits. Cryptocurrencies operate on a decentralized network and are not regulated by traditional banking institutions. Therefore, it is important to choose a reliable cryptocurrency exchange that prioritizes security and offers additional measures to protect your digital assets.
  359

  72
• Majd SassiSep 14, 2025 · 2 months ago
  While Truist Bank's FDIC insurance does not cover cryptocurrency deposits, it is important to note that there are other ways to ensure the security of your digital assets. Many cryptocurrency exchanges, such as Binance and Coinbase, have their own security measures in place to protect user funds. It is recommended to research and choose a reputable exchange that prioritizes the safety of your cryptocurrency deposits.
  420

  70
• Jason StroudSep 04, 2023 · 2 years ago
  Truist Bank's FDIC insurance does not cover cryptocurrency deposits. Cryptocurrencies are not regulated by traditional banking laws and are not considered as legal tender. Therefore, it is important to choose a reliable cryptocurrency exchange that offers robust security measures to protect your digital assets.
  312

  45
• nguyentrungHGMay 28, 2024 · a year ago
  BYDFi, a leading cryptocurrency exchange, does not fall under the jurisdiction of Truist Bank's FDIC insurance. However, BYDFi has implemented stringent security measures to protect user funds and ensure the safety of cryptocurrency deposits. It is advisable to choose a reputable exchange like BYDFi that prioritizes the security of your digital assets.
  354

  45