Do Banks fear cryptocurrency

[Allan Ramanda]

I do not think it's afraid, because banks have strong support from the government. while bitcoin and crypto are illegal currencies that can not be controlled by the government. and banks just in case because the world of crypto is currently popular around the world.

[UrsoNomato]

yes they really are afraid of cryptocurrencies because unlike bank they have higher fees and it have some lots of requirements it needed.
I do not think it's a good

[dangdangdang]

I agree that banks are afraid of digital currencies because there's no need to save your money to banks since we have already wallets that our assets are in it. Banks purpose is to save and keep our tangible cash to avoid fear of getting robbed.
Indeed, they would feel like they're not needed anymore.
In the future, I predict that banks will become Crypto Exchange.

[argiyan.tri]

I think the bank is just afraid of being displaced by cryoto and therefore the bank issued the warning. this is just my opinion.
CMIIW Thank You

[BabyBoss]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

I think banks are really get feared because they know that bitcoin has more advantages and benefits that people can really want if they already know about it that's why some banks really destroy the image of bitcoin in some people especially thise who is not yet encounter butcoin.

[valentine401]

I believe they do! Especially with the increase of their daily issues, long delay & non-sense processes compared to the simplicity of BTC & crypto currencies that more folks start to realize & enjoy & that reflects on the increasing number of complaints from the current banking systems

They will only fear that no one will place money in their bank and it will slowly kill the industry of loaning and time deposit. In my own opinion i think that they will implement a function for bank that they can also hold bitcoin and will double the price every month so that more investors will still come.

[rasmadisulaiman]

Actually banks are afraid of the arrival of bitcoin.
Do not be afraid of banks as long as we do not bother them. But if the Bank is harassing us, we have to fight smoothly.

[Victorycoin]

I do not think it's afraid, because banks have strong support from the government. while bitcoin and crypto are illegal currencies that can not be controlled by the government. and banks just in case because the world of crypto is currently popular around the world.

Are you saying those out of sheer ignorance or you're just another troll that found his/her way to this forum?

Anyway, It is like Bitcoinvestor pointed out, accepting deposits, remittance, exchange, loan, etc used to be something synonymous with banks only, however Bitcoin have broken that monopoly and anyone can now be a bank. So do you really think the banks are raising their glasses to these developments! They certainly are not, - not after they are used to stealing from people but now that people are becoming the wiser, aside from banks losing money, they're also losing relevance.

[Slipknot79]

Bitcoin and cryptocurrency is the biggest threat that banks have had to face since they first started.

That said - if they are smart - they will change with these times.

[gabmen]

Actually banks are afraid of the arrival of bitcoin.
Do not be afraid of banks as long as we do not bother them. But if the Bank is harassing us, we have to fight smoothly.

Basically, it's everything that people want that they can't get from banks. And bitcoin is now garnering a huge following and that's probably the reason by banks are wary of bitcoin. They may lose a lot of majority of the population in the future shifs to cryptocurrencies

[valentin68]

The reality is that banks do not know what cryptocurrency is. Here where I am in my country, it was difficult for banks to know about PayPal, then about other as Skrill or others. Here in my country I repeat banks do not know what the cryptocurrency is. I regret saying this, but I prefer to receive my earnings in PayPal, or Skrill or Bitcoin than in my bank account.
 
 I'll tell you something that happend to me 4-5 years ago in my country (an important Eastern European country). I went to the second biggest bank and opened an account with 5 Euros. It was BRD Societe Generale, I guess all people from Europe know it.

They gave me many papers and told me that the account is opened. After one year I decided to withdraw the 5 Euros that I deposited. Guess what? The boy from the bank told me that my account does not exist, that it has never been opened. When I gave him the papers that the bank gave me on my account opening he told me that my account was closed, because of the taxes. What taxes had I had to pay in a year from 5 Euros that they closed my account?
They were saying the interest was 6%.  

Thus the answer is that banks do not fear cryptocurrency. They do not know what cryptocurrency is.
 

[bitcoinmasterlord]

Actually banks are afraid of the arrival of bitcoin.
Do not be afraid of banks as long as we do not bother them. But if the Bank is harassing us, we have to fight smoothly.

Basically, it's everything that people want that they can't get from banks. And bitcoin is now garnering a huge following and that's probably the reason by banks are wary of bitcoin. They may lose a lot of majority of the population in the future shifs to cryptocurrencies

A cryptocurrency will not replace banks, but because of these currencies, the bank's income will come down. The Bitcoin and other coins are user friendly this generation people like to do only digital currency transactions. So in future, all youths will support this bitcoins, and it becomes one of the major currency in all over the world.

[MoonJeina]

Banks are totally afraid of cryptocurrency . They fear cryptocurrency because it may be possible that cryptocurrency eliminated the need of banks in the future . They try to save their jobs and their currency inorder to face no big loss . Their fear about crypto is totally genuine i.e why many centralized banks tends to influence government inorder to limit the use of bitcoin .  Sometimes , the main reason is that they have very less knowledge regarding cryptocurrency .

[hastag_80]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

No i thinks banks not  fear  with bitcoin unless that  the government regulated bitcoin,thats the time we can say that there's chances that banks  will fell worry in bitcoins.

[dustboy]

Banks are totally afraid of cryptocurrency . They fear cryptocurrency because it may be possible that cryptocurrency eliminated the need of banks in the future . They try to save their jobs and their currency inorder to face no big loss . Their fear about crypto is totally genuine i.e why many centralized banks tends to influence government inorder to limit the use of bitcoin .  Sometimes , the main reason is that they have very less knowledge regarding cryptocurrency .

I dont think Banks are that afraid to cryptocurrency and they should not even worry about crypto. The most reason why some Banks influences government to limit the use of crypto is about its value which is so unpredictable. Other reasons is about scam ICO which was the main reason of China to ban them if I remember it correctly.

[Bakugo]

in my opinion, yes of course the bank is afraid of bitcoin, because banks can not control bitcoin, in the presence of bitcoin banks will find it difficult to find profits because supply bitcoin will remain that number alone, unlike the fiat that can print as much

[worle1bm]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

Banks are the source of money regulation in an economy and financial source of help for people but if cryptocurrency gain popularity banks might loose their role of money controller as nobody would prefer fiat currency so yes they must fear about rising importance ofcryptocurrencies if they want to survive in long run

[Nevis]

Yesterday the Central Bank of Albania issued a warning about the uncertain and unsafe nature  of cryptocurrencies
They called on people not to get involved. Should we be afraid or the banks are!

Banks are the source of money regulation in an economy and financial source of help for people but if cryptocurrency gain popularity banks might loose their role of money controller as nobody would prefer fiat currency so yes they must fear about rising importance ofcryptocurrencies if they want to survive in long run

Not only that, people would love to invest into cryptocurrency as they are more easy to get into. Long term investment would really bear fruit if you invest in a good timing with the right amount of money. And they are more efficient and reliable than going to banks just to sign paperworks that tells your interest and other stuffs.

[jyotianand01]

I think, so many banks fear from crypto currencies, because they know that they are booming at the moment & most of the online people using crypto currencys to make transactions nowadays. They are preferring crypto currencies instead of banking transactions as cryptos charge low fees rather then banks.

[Black Angel]

I'm sure that bitcoin is a serious threat to the bank system, this is because the value of bitcoin transactions keeps increasing so that the customer banks will run and switch to bitcoin.