What is the impact of a Schwab money market sweep on the security of my cryptocurrency holdings?

1 answers

• Ikbalkusumaa IkbalkusumaaMay 21, 2024 · a year ago
  A Schwab money market sweep can potentially impact the security of your cryptocurrency holdings. When your excess cash is swept into a money market fund, it is no longer directly held in your brokerage account. This means that if there is a security breach or hack targeting the money market fund, your cash could be at risk. It's important to understand the security measures in place for the money market fund and assess the potential risks before participating in a Schwab money market sweep. If you're concerned about the security of your cryptocurrency holdings, it's always a good idea to do your due diligence and consider alternative options that prioritize security.
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