As per my experience, it is not a safe place to keep your money. I used Paytm via my desktop. On 16th January 2016, I added Rs. 673 to my wallet. When after spending some money, I tended to withdraw existing Rs. 638 to my account, I came to know that transfer to bank account is only possible via Paytm app. Then I installed Paytm to my Tablet. But after installing the app I found that Rs 638 is missing from my wallet and all my transaction histories have gone. My wallet balance has turned zero. When I contacted Paytm customer care, the were not replying to me. Finally they replied but it was not satisfactory. Now they are simply ignoring me. I’m planning to go to police. So my advice is stay away from them.