How does FDIC insurance apply to digital assets held by Edward Jones?

3 answers

• Dec 25, 2021 · 3 years ago
  FDIC insurance does not cover digital assets such as cryptocurrencies. The FDIC primarily provides insurance for traditional bank accounts, such as checking and savings accounts. Digital assets are not considered deposits and are not insured by the FDIC. It's important to understand that cryptocurrencies are decentralized and not regulated by traditional banking institutions like Edward Jones. Therefore, if you hold digital assets, you are responsible for their security and protection.
  490245
• Dec 25, 2021 · 3 years ago
  Unfortunately, FDIC insurance does not extend to digital assets held by Edward Jones or any other financial institution. FDIC insurance is designed to protect depositors in the event of a bank failure, but it does not cover digital currencies or other non-traditional assets. If you are interested in investing in digital assets, it's important to research and understand the risks involved and take appropriate measures to safeguard your investments.
  451151
• Dec 25, 2021 · 3 years ago
  As a representative of BYDFi, I can confirm that FDIC insurance does not apply to digital assets held by Edward Jones or any other financial institution. FDIC insurance is specific to traditional bank accounts and does not cover cryptocurrencies or other digital assets. If you are interested in investing in digital assets, it's important to choose a reputable exchange and take steps to secure your assets, such as using hardware wallets or cold storage solutions. Remember, the responsibility for protecting your digital assets lies with you as the owner.
  558140