Why many banks hate cryptocurrency ?

[dimiinx]

because the bank less believe money online and have more confidence against cash.

in addition bitcoin also has an anonymous nature that can later be used for crime, if someone is not good at keeping his bitcoin wallet then easily stolen. hate may not be like bitcoin.

[lelahkenabanned]

yes you are right I see many banks are frightened with the bank because I see many customers who leave the bank and try to switch to the world of cryptocurrency and eventually some banks have decreased assets because many are withdrawing the money.

[fluctuations]

Because the benefits and features of bitcoin outperformed the bank a lot. Banks fear their customers will forget them and look for bitcoin to make the transaction.

[Ingramtg]

There are many speculations coming in my mind why does banks really hate bitcoin.As I can see, hate is coming from insecurities, Central banks are being insecured in cryptocurrency because they are seeing how cryptocurrency becoming popular all over the world and how people really love the benefits and function of it. Banks are only afraid that someday they will be forgotten and replaced by cryptocurrency.

[localcrypto]

banks think cryptocurrency will take over banks and people feel more secure to invest in crypto currency rather than investing in putting money in banks but future may certainly happen people more interested in bitcoin rather than banks

[dexterbit]

The real answer to why the banks’ dislike cryptocurrencies is most likely that they feel threatened. The rise of cryptocurrencies has exceeded all expectations and, while the concept is still very young, it does have potential to shake up the aging fiat system. In order to understand the race between the banks and cryptocurrencies.

[Butchick]

Banks ban crypto currency simply because it follows a system that is the exact opposite of their system. Banks usually follows a centralized sysytem whereas crypto currencies, specifically bitcoin, were born because of the idea that it cannot be controlled by any ome or anybody and will follow a secure, decentralized system. More so, crypto currencies and botcoin are gaining more and more audiences and imvestors and tgis somewhat worries some banks.

[Keyboard PC]

I think many banks are afraid of bitcoin because maybe a lot of customers are already out and choosing bitcoin for a solution to store assets that can provide huge profits and store in cryptocurrency also does not require administrative costs so that customers who have a lot of money started to leave bank.

[bitcoinbillionaireboy]

Banks are fighting Crypto because satoshi has brought idea that Wealth will be shared equally even to the common man on the street.
Banks are not happy about this because they won't be deducting customers money unnecessarily.
Thank You satoshi

[Betheng10]

Simple. With todays trend of transactions online, bitcoin has offered an alternative way instead of paying services of the bank.

Stores/business establishments that accepts bitcoin is still limited but banks see its potential and as a threat.

[Aztek]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

I guess almost all of the bank hate cryptocurrency or bitcoin it is all because banks cannot use the system of bitcoin but almost the bitcoin is a virtual currency and almost all of the bank uses 🏦🏦🏦🏦 a paper money in their system so obviously they cannot use it and if bitcoin get popular in the market the bank will dissolve easily.

[gjtnwls1]

Like other people said, banks consider cryptocurrencies as a competitor. We still need to use bank to cash out at the moment but in the future, when crypto is used widely and directly from our wallet, we might not need to have actual bank.

[Sherlyn113]

Electronic money is worrying to the banks today, many of which have banned the virtual currency entirely for fear of affecting the economy of the country.

[jovs]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

Perhaps, banks do not see bitcoin as a compliment to the current system they are running, they find it as a competitor and a possible treat to their long term existence in the market. Even though bitcoin is considered as a currency, perhaps, banks are not yet ready for the adoption of the technology behind it.

[elachious123]

I think banks are afraid that they are losing their customers and people are no longer saving money in their bank account. Banks are unfair to their customers

[Jacsnuffles]

Banks see Bitcoin as their competitors and a hindrance to their market success. Bitcoin is getting more popular now and people are learning to invest in cryptocurrency, where they can grow their money than in banks. We all know that Bitcoin can give us more profit in an instant than keeping our money in banks with a minimum profit in a year. It will be hard for banks if they push the competition with BTC. So what they do is just to hate it.

[Damon | Atomine Support]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

Because for banks, bitcoin is an important competitor, people will stop investing money in banks at low interest rates, but will simply store their money in their online wallets.

[mmo_online_1981]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

Digital money reduces the influence of banks! This leads to a decrease in revenue as well as the dependence of investors. So, most banks do not like Bitcoin and altcoin! But believe me, the development of bitcoin and altcoin is inevitable!

[Captain Sneeze]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

I think because they people can send money to anywhere without the helping of banks. So that banks will loss their profit and will become bankrupt if people use cryptocurrencies. And we all know that is much convenient to use cryptocurrencies instead using of banks.

[balamuda]

I have seen many news about banks banning bitcoin from using. But I think bitcoin is a great technology and future assets, and its a great opportunity for banks also to use bitcoin as a contribution. My question is why does they ban it rather than use bitcoin ?

Bitcoin is a digital currency that is currently more valuable than fiat currency. Bitcoin will continue to be popular in the future and that could threaten the bank's popularity.