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How do money market accounts work?

Money market accounts work like other deposit accounts, such as savings accounts. As customers deposit funds in a money market account, they earn interest on those funds. Typically, interest on money market accounts is compounded daily and paid monthly.

Can you lose money in a money market account?

While you can lose money indirectly in a money market account through fees and penalties, the money you invest in your account is insured and safe. What Is a Money Market Account? A money market account (MMA) is a deposit account that combines the best attributes of traditional checking and savings accounts.

Is a money market account worth it?

But generally, yes, it is worth having. Money market accounts offer a low-risk environment with a higher interest rate to grow your money. Money market accounts are insured by the FDIC and can help individuals reach their short-term savings goals. Money market accounts serve a singular purpose: To keep your money safe.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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