The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Usually, no. FDIC insurance covers qualifying deposits at an insured bank if that bank fails; it does not insure crypto assets or protect customers if a crypto company fails. A nonbank app balance may qualify for pass-through deposit insurance only when the funds are actually deposited at an insured bank and specific ownership and recordkeeping requirements are met.
What FDIC insurance covers—and what it does not
The FDIC insures deposits held at insured banks and savings associations against the failure of the insured institution. It does not insure assets issued by nonbank companies. The FDIC puts it plainly: “The FDIC does not insure assets issued by non-bank entities, such as crypto companies.” FDIC crypto company fact sheet, July 28, 2022.
As an Amazon Associate I earn from qualifying purchases.
That distinction matters because “crypto bank” is an informal label, not proof that a customer has opened an account at an insured bank. A crypto company may be a nonbank that offers an app balance, holds crypto, or arranges for money to be placed at a partner bank. The legal provider, the nature of the balance, and where the funds are held determine what protections may apply.
Quick wins for a faster PC:
Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →- Bank deposit: May be covered if it is held at an FDIC-insured bank and meets applicable requirements.
- Crypto asset or stablecoin: Not itself an FDIC-insured deposit.
- Amount owed by a nonbank app: Not insured merely because the company has a bank partner or describes the balance as protected.
When a nonbank app balance may get pass-through coverage
In some arrangements, money held by a third party can be treated as deposits owned by the underlying customers. This is commonly called pass-through deposit insurance. It is conditional—not an automatic benefit of using an app connected to a bank.
#1 Best Overall
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Enjoy Bluetooth connectivity, iOS access, and hours of battery use with this mobile-first, secure backup signer. Freedom you can depend on.
- Genuine Check: confirm your signer is authentic during setup with the Ledger Wallet app.
- Protect your signer: keep it in mint condition at all times with a bespoke Pod or Case to avoid scratches and everyday wear and tear.
For pass-through treatment, the customer must actually own the funds; the insured bank’s records must disclose the agency or custodial relationship; and the records must make each owner and the amount attributable to that owner ascertainable. The FDIC evaluates whether those requirements are met if the bank fails. See the FDIC’s deposit insurance guidance and guidance on nonbank companies.
A provider’s statement that it “works with” an insured bank does not establish these facts. Nor does an account label settle whether a customer owns a bank deposit or instead has a contractual claim against the provider. Review the account agreement and disclosures for the named bank, the legal nature of the balance, and how customer ownership is recorded.
Rank #2
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
How much can be insured?
The standard maximum is $250,000 per depositor, per insured bank, per ownership category. Eligible deposits held for a customer through a nonbank may count toward that limit if pass-through requirements are satisfied. Deposits in the same ownership category at the same bank can aggregate, so the limit is not necessarily $250,000 for each app or account. See the FDIC’s Your Insured Deposits guidance.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
The applicable amount depends on ownership category and account facts. If you already have deposits at the same bank in the same category, include them when estimating coverage. The FDIC’s Electronic Deposit Insurance Estimator (EDIE) can help estimate coverage for bank deposits, but it cannot independently confirm that a particular nonbank’s arrangement qualifies for pass-through treatment.
Rank #3
- Unparalleled Security: Protect your assets with EAL 6+ Secure Element, offering robust defense and complete transparency
- Simple & Secure Interface: Manage your digital assets easily with a clear OLED screen for secure on-device confirmations
- Supports 1000s of Coins & Tokens: Securely handle thousands of assets, including Bitcoin, Ethereum, and more, all in one wallet
- Effortless Asset Management: Monitor and transact seamlessly with Trezor Suite, our intuitive desktop and mobile app
- Enhanced Backup Solution: Multi-share Backup eliminates single points of failure for secure cold wallet recovery
What happens if the crypto company fails?
FDIC insurance addresses the failure of the insured bank, not the insolvency or bankruptcy of a crypto company, an app’s failure to honor its agreement, crypto price losses, or a stablecoin losing value. Even where customer funds have been placed at a bank for their benefit, access may be delayed while ownership and records are sorted out. The FDIC discusses these limits in its nonbank company guidance.
Keep bank-failure protection separate from provider and asset risks. A balance can involve more than one relationship: the bank may hold a deposit, while the app remains responsible for providing access or performing other contractual duties.
Rank #4
- UNPARALLELED SECURITY: Protect your assets with Trezor Safe 5's NDA-free EAL 6+ Secure Element, offering robust defense and complete transparency.
- EFFORTLESS NAVIGATION: Experience seamless crypto management with the vibrant color touchscreen, designed for intuitive and user-friendly interactions.
- ENHANCED USER EXPERIENCE: Enjoy tactile confirmation with Trezor Touch Haptic Engine, making each interaction precise and engaging.
- SUPPORTS 1000s OF COINS & TOKENS: Securely handle thousands of assets, including Bitcoin, Ethereum, and more, all in one wallet.
- EASY ASSET MANAGEMENT: Monitor and transact seamlessly with Trezor Suite, our user-friendly desktop and mobile app
Stablecoin reserves and tokenized deposits: a proposal, not a final rule
On April 7, 2026, the FDIC Board approved a notice of proposed rulemaking to implement parts of the GENIUS Act. The proposal would state that deposits held as reserves backing payment stablecoins are not insured to stablecoin holders on a pass-through basis. It also addresses tokenized deposits, stating that deposit insurance does not depend on the technology or recordkeeping used to record an insured institution’s deposit liabilities. These are proposed provisions, not a statement of an effective final rule; check the FDIC’s April 7, 2026 rulemaking notice for its status.
Quick Recap
What to check before relying on coverage
- Identify the legal provider. Determine whether you are opening an account directly at an insured bank or using a nonbank company that says it places customer funds at a partner bank.
- Find the bank and account type. Ask which insured bank holds the money and whether your balance is a deposit account, rather than crypto, a stablecoin, or a contractual claim against the app.
- Read the agreement and disclosures. Look for language establishing that you own the funds, that the bank’s records disclose the agency or custodial relationship, and that records identify each owner and amount.
- Account for other deposits. Add your other deposits at that bank in the same ownership category when considering the standard insurance limit.
- Estimate, then verify. Use EDIE for an estimate of bank-deposit coverage, but confirm the app’s specific structure and records with the provider; the estimator does not certify its pass-through arrangement.
- Assess the company separately. Consider the risk of provider insolvency or interrupted withdrawals independently of any possible bank deposit insurance.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
