Do Banks fear cryptocurrency

[shoreno]

I guess they're not afraid of cryptocurrency occuring. Instead, they see it as an opportunity to earn more money because they offered several partnerships with some bitcoin platforms here in the Philippines.

cool. its nice to see that there are some banks who fully support cryptocurrency but we cant deny the fact that most banks are still afraid of it and there were some that hates crypto verry much because they think that their costumers or investors will fly away and switch all to these crypto investments because banks also know that cryptos can give much better rates or interest when compared to their usual service. but i guess that cant happen instantly because right now , cryptocurrency is still  controversial.

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[george888055]

I don’t think banks fear cryptocurrency, they try to develop their own solutions with functionality similar with cryptocurrency. Especially banks got interested in the blockchain technology and a distributed ledger concept that lie in the heart of bitcoin

[Matildada]

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!

Yes, I think the bank is worried that bitcoin will take its place. Because the goal of bitcoin is to replace Banks. Now that bitcoin is supported by many countries, more and more people accept it, and bitcoin is becoming more and more popular, which is not a good news for bitcoin.

[Aleksablack]

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!

In this situation, we should not worry, but banks. That's what they do. Banks are worried because bitcoin is getting deeper into the lives of ordinary people.

[xamxam]

For me, no reason for the banks to be afraid for, because in our country banks can be part of bitcoin,when we change our bitcoin to our local money,bitcoin is also involve,and we can cash out through our preferred banks,and we don't think to make it happen to disappear one banks because of crypto currency.

[Bosx1ne]

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!

Many news said that banks are afraid to the cryptocurrency. There is a big effect to the banks if all of the people will use cryptocurrencies. Many people will stop depositing their money in their banks if the cashless society happens.

[jerowacik]

Of course banks fear cryptocurrency. Cryptocurrency can substitute banks and financial institutions and allow people to manage their own money with no intermediary.

[predictors]

I believe they are very afraid because the bitcoin is not in circulation, the exchange rate and the transaction is not regulated by the bank so the bank is worried about the high user of bitcoin transaction and will lower their bank transactions and they are also worried because bitcoin is used as a currency exchange not just one country but all country and bitcoin may also be redeemed in the applicable valid currency in that country

[firasbc]

of course they do fear of crypto-currencies because it can destroy bank's system.

[bajingluncat]

the use of cryptocurrency is increasing in the lyrics of the world community. because its ease in doing the transaction will affect the puncture of the bank. bank warns to all parties not to sell, buy or trade virtual currency, it proves bank anxiety about cryptocurrency

[Semaj123]

For me, no reason for the banks to be afraid for, because in our country banks can be part of bitcoin,when we change our bitcoin to our local money,bitcoin is also involve,and we can cash out through our preferred banks,and we don't think to make it happen to disappear one banks because of crypto currency.

Definitely, because bank will remain as it is backed by the government. Although, some of us wanted to get rid of it due to their services are not even fair but we can't do nothing in it except to accept the truth. It's only a speculation that bank were afraid of crypto currencies but the truth is they are adopting in it.

[icaica22]

Banks must follow the new technology. Cryptocurrency does not avoid Fiat but helps make new utilities to make payments and pegs much easier and safer. Banks may have problems with decentralization and have personal data from their customers.

[Decima human]

The banking system is afraid of the development of the crypto, and banks fear that crypto will replace the bank in the future so many financial institutions have sought to counter the crypto.

[criss ronaldo]

i think yes but not totally because they are also backing their own crypto currency in this emerging industry of blockchain that is totally better than bank system but bitcoin cannot kill banks that easily because all business is using banks as storage of their business money for safety

[kirito1614]

No, Banks don't dread of digital money, in any case talking banks far and wide has encountered a major misfortune on account of the whole cryptographic forms of money. At the present time the banks were with plans to get coordinated with the digital currencies and give benefit. Such an entrance can be found in banks by the up and coming years and there is no dread on its development.

[dany henry]

all the banks around the whole world have issued "warnings" to their user about cryptocurrencies. and the warning is pretty clear. they are warning them about investing in a highly volatile thing

[learner 7]

all the banks around the whole world have issued "warnings" to their user about cryptocurrencies. and the warning is pretty clear. they are warning them about investing in a highly volatile thing

Banks behind which the government stands, do not want to lose their influence and power.

[klavyemaus52]

Yes i think they are because if its be a money transfer in the future fear is unescapeable because banks are will be history

[karlkino]

Most banks fear cryptocurrency, even in some countries you have them warning citizens against investing in cryptocurrencies as the risk is very high. I remember seeing on the internet one central bank of an African country, Nigeria, warning its citizens against crypto.

[Boknoyz]

Yes,of course. bank afraid with bitcoin. in my country they afraid not popular or not be place that be destination of many people. and it make bank decrease their income, make them disappear from people thought.so,Bank fear cryptocurrency.