Do Banks fear cryptocurrency

[A.Chanaka Bandara]

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 fear cryptocurrency. Because transaction of crypto coins are fast than banking and more safe. Crypto coins are decentralise. So no bank fees and takes and rules. Cryptocurrency catch customers in bank use soon. therefore most of banks fear cryptocurrency.

[djangocoin]

Banks don't fear of cryptocurrency, but truly speaking banks around the world has experienced a big loss just because of the entire cryptocurrencies. Right now the banks were with plans to get integrated with the cryptocurrencies and provide service. Such an access can be found in banks by the upcoming years and there is no fear on its growth.

I think this is the best answer here. We see companies, investors, and people entering the space and they will all coexist and find ways to feed off of each other as it were.

[ekateriinae]

im more scared if the bank started to make their on cryptos and take control over the cryptocurrency in the future..

[cloudbleron18]

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 never will be fear on bank because bank ismaking money same by the other crypto currence so why we should got to fear on bank! crypto currency is a type of a money so if bank didn't want it who cares. they dont got disapear crypto currency.

[malika]

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 dont think Bank are afraid of Bitcoin currency they are just strategizing on how they can protect the fiat currency well in fact there are news circulating that even bank are investing as well in Bitcoin and they are taking advantage on the profit they might get from investing on it.

[konfuci]

Yes, Banks have fear of cryptocurrency because they have the risk of losing the customers due to they investing more in cryptocurrency compare to banks and everything is going digital.

[Nida Salva]

I think other banks do fear of cryptocurrencies and some are not. Because other banks have transact and process involved in cryptocurrencies. And I think in the near future he other banks who have fear about it will not be fear anymore.

[virendarnagpal]

During near future I do not see any major threat of cryptocurrency on the existence of Banks.  Reason being very small minority is using transacting in cryptocurrency.  Majority is customer of Banks.  Even the people who are using crypto currency are also doing their major transactions through Banks because they have to make payments receipts to the persons who are in majority but do not transact in cryptocurrency only transact in Banks services so they accept transactsion via banking sector only.
But with the passage of time more and more people will start using crpto currency mode and definitely it will be start of alarming threatening era for banks.  At that point of time Banks must have to invent such measures with which they will be able to offer very cheap services related to crypto cucrrency.  If they will be able to shift their business nature from current currency transaction system to cryptocurrency transaction systems then there will be no threat for their existence even they will grow more and a faster speed.

[Osarman]

Banks are completely scared of the thought of a new economic model, and rightfully so. I hope bitcoin can fulfill its potential and disrupt our society in a big way.

With the increasing emend of faster transactions, banks are failed to keep up with the demand, hence people are highly attracted towards bitcoin. There are many ways in which bitcoin is far better than banks. The freedom and control bitcoin provides you over your wealth is not provided to customers by banks rather they are all the time deducting different taxes form your money. People are leaving banks for common uses.

[boyptc]

Banks are aware now of cryptocurrency and others are fearing that biggest clients will be gone as they are only giving a very small interest to those deposits that are sleeping on their business. And if these clients will understand that if they'll let their money sleep through crypto's and they decided to take the risk then that's going to be a big lost of client to them.

[Cryptron]

I think banks are afraid of cryptocurrency because they might not follow or cant keep up with it that might end to bankruptcy. Since Bitcoin dont have tax, Banks will say no to it. Also it is because Banks wont have the control of the value of the Bitcoin.

[onioncoin4]

Yes ofcourse. Thats why every country is trying to regulate it. But in crypto currency world, the fees and transaction/network congestion is a big problem to get familiar.thats every crypto currency is facing now.

[ronremsey25]

Yes, since the Bitcoin has no tax involve and I think since the bitcoin price is volatile that banks will have a problem in keep up.And correct as the above comment says, as of now they can't regulate it.

[ldah94]

I think that in the not too distant future blockchain technology will be part of banking transactions, and I think we have a bit of that with ripple and its association with central banks.

[Kriptex]

Yes, since the Bitcoin has no tax involve and I think since the bitcoin price is volatile that banks will have a problem in keep up.And correct as the above comment says, as of now they can't regulate it.

Bitcoin has no tax now in some countries, but it will have tax in the future. If you make income from it, you HAVE TO pay tax not to be charged by your government. I think banks are fearing bitcoin.

[Rascar Capac]

Banks are afraid of loosing their funds and decrease in the profit of their bank, other than that I can't think any harm that bitcoin can cause to banks. Bitcoin is just peacefully helping people to store their money safely and decentralize which means the value of currency is not in the hands of few people. All these factors and much more attracts them towards Bitcoin thereby reducing the profits of Banks.

[snoopy95]

I think other banks do fear of cryptocurrencies and some are not. Because other banks have transact and process involved in cryptocurrencies. And I think in the near future he other banks who have fear about it will not be fear anymore.

hi and welcome to bitcoin

 Bankers are afraid of Bitcoin’s impact as it will lead to ripples across the financial sector, it will create new winners and losers, and it will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined.

thankyou

[khokon150]

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!

Not only the central bank of albania very recently i heard bangladesh bank declared to illegal in crypto currency it's very sad news. Bitcoin and alt coin totally illegal in bangladesh.

[theedm09ka]

why do you think banks are afraid of cryptos? banks are adopting ripple blockchain technology. if they are afraid of cryptos, why do they team up with the second biggest crypto in the world? answer this question

[hilda483]

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!

The banks are afraid because people will no longer keep the money inside Banks but rather in Crypto, and money will lose value. Therefor banks will lose a lot of customers, of course they are afraid and concerned.