Why many banks hate cryptocurrency ?

[wave1002012]

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 ?

The reason why many banks hate cryptocurrency its because for now instead of people invested or put their money into banks for savings, people are now diverted their money into buying crypto currency ang hoping that it will make some incom

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[rahul10948]

It's simple crypto currency give the power of asset to the people hand. It's reduce transaction cost and fast and it's better than bank in all aspects...

[makeng]

bitcoin it a lot of demand if all people grab bitcoin its means no more bussiness for banks no more money..its may ruined the banking system .bitcoin will change the game of centralisation (in banking)

[Moblie_Legend]

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 what I know bitcoin transactions can pass through the banking system in conducting its buying and selling activities but a strong reason is that many countries have not or opposed the existence of bitcoin

[THATBTC]

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 ?

They want to keep the control forever XD

[ex-machina]

Banks hate cryptocurrency because they are being threat by the potential of cryptocurrency together with the blockchain technology to the modern world, especially in the business industry, banking services in specific. Thus it is not surprised that banks could work together to stay the traditional and financial technology perspective of banking.

[titan20]

I'm not sure that many banks hate cryptocurrencies. Many of them are already developing projects based on blockchain technology. This is the beginning of the change I think. 

[poldanmig]

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 ?

maybe the bank is in a country that rejects the existence of bitcoin and maybe because bitcoin is a digital currency so it is illegal and official for the bank to accept it

[Syunusa]

Banks and some others financial institution hate because due to the fact that bitcoin made people especially investors to move their fiat currency to digital or virtual currency. And this has make banks to record low profit.

[addeqt]

Simple answer dude, because bitcoin is decentralize. Do you notice that each country has its own currency. That is because the government could control the currency, the government are the one who could print the currency and control it to prevent inflation and over supply which could make the value of the currency goes down. If they will use bitcoin, they have no control on how many coins could be mined in a single day or even command to halt mining for even a day.

[Tan_avia)vl.]

Just now, due to the advent of Bitcoin people will not turn to banks for loans and loans. How was it before? No money to buy? -You are going to take a loan to the bank. And now you can participate in the bounty or mine and all-you have money and banks you need more to visit.

[Odlanyer]

Other banks presumption that bitcoin is their competitors, now bitcoin is very popular and famous because people has trust bitcoin because its gave us to money. People will stop investing money in banks at low interest rates unless they stored their money in online wallet.

[jean messi]

Cryptocurrency is the easiest transactions you will made because where ever you are you can pay your purchase through internet transactions while in bank you must go to the banks inorder to withdraw cash for payments.

[johnlhy253]

Bitcoin - and other decentralised cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.

[Hmei777]

banks hate bitcoin because bitcoin can take bank customers. bitcoin has many advantages over the bank therefore the bank must lose if competing with bitcoin. banks are trying to tear down bitcoin so bitcoin can not grow all over the world.

[prediction on bush]

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 why many banks hate crytocurrency is because they had a fear of bitcoin replace them and maybe they are afraid of losing customers and lower their high profits. We all know bitcoin transaction is better than banks.

[ryanto siyanto]

I think the reason is none other than the blockchain system that controls cryptocurrency that is considered better than the system of bribery. This makes the crypto world the main rival of the bank system.

[Thomas petersen]

Because people do not need banks to use crytocurrency. Banks fear that the use of cryptocurrency eventually make them useless.

[Yakapo]

Cryptocurrency posses a huge threat to the Banking system, the open and public ledger they operate on Thanks to block chain, keeps a huge amount of records  and accurately avails them in a short period of time, there I little room for error, as opposed to what the BAnks are offering, with cryptocurrency, your is also safe, secured and freeof taxation, something the banks cannot offer as they are under institutional regulations. People might therefore opt for cryptocurrency, thus pushing the banks out of the market

[imking]

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 ?

Do you love your opponent? Do you think banks will love the cryptocurrencies?  Cryptocurrencies are their opponent. Why cryptocurrencies, because time will the mind of people change.  They will put to save their money on the cryptocurrencies because of the ability to increase their funds. The transaction of the bitcoin is  less charge more than to the banks. Bitcoin will replace them and take away their clients.