Why many banks hate cryptocurrency ?

[Kolly]

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 ?

Competition that is what it is. Lots of bank depositors are now shifting their money with cryptocurrencies because people realizes the fact that profit derived from investing in cryptos is much bigger than what they get from interests in their deposits in banks.

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[SingAlong]

Bitcoin are slowly being familiarize and introduce all over the world they are attracting more users and customers because of their advantages and benefits that they can provide from us. That's why central banks are being alarmed on what are happening actually they didn't hate cryptocurrency they are afraid on it. Cryptocurrency for them is a big threat for them because it is their conpetitor and tgey are afraid to be replace by digital.

[jeraldskie11]

I think the bank they've not hated cryptocurrency but they've afraid of it because it will make them a competitor. We almost knows that many people do introduce bitcoin around the world and there are a lot of users used it because they've know that they will get benefits on it. They afraid also that the paper money will replace by a digital.

[bravehearth0319]

I think the banks just don't want to meddle with Bitcoin because it will disrupt their flow. Banks need to have constant flow of money and with Bitcoin they can't do it. Bitcoin is great and all and it can do fine without the banks. Banks are just playing safe and its reasonable for them. As for us we can use Bitcoin as it is and make use of its benefits and perks without the bank.

[amadorj76]

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 ?

Some banks have cryptocurrency because they have not been able to control these virtual currencies and they are afraid they will make them more confused and lose control over them so they are afraid of cryptocurrency.

Many banks hate crypto for the reason that bitcoin can take over their business. People will transfer to digital currency and will not use the banking system anymore.

[toast]

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 ?

may be from different systems and types of money issued and the bank also can not accept with the bank system and the crypto currency system itself may be a bitcoin value greater than the local currency in circulation

[kim owen]

Banks have mostly opposed cryptocurrencies because it is more profitable than the traditional bank, and also why banks  dislike cryoptos probably because they feel threatened

[kolitski]

I guess most people are compatible in bitcoin they seen their money in their cellphone through digital wallet and no charges, the bank are being afraid of replacing them by the bitcoin and the people are not willing to diposit in bank.

[tetyulfania]

Not only on overseas hate about cryptocurrency by bank but also in my country bank still hate cryptocurrency. Bank team never think about how much money was withdrawal by bitcoin member to bank every day and billion transaction is income to bank by withdrawal money from bitcoin. but bank still hate bitcoin transaction and keep away for people to invest money on bitcoin and cryptocurrency. So far in my country have billion of money withdrawal from bitcoin to bank account.

[ngoan]

People will transfer to digital currency and will not use the banking system anymore

[paruru123]

Actually bank dose not hate cryptocurrency. They fear about it. In future cryptocurrency will replace in banking system. and their customer will gone crypto sector.

[Salesman4coinZ]

The thing with cryptocurrencies is, that it has value. Look at the market cap from all cryptocurrencies. The banks see that they can not controll this amount of money. And its growing all that. Not controlling the money means for them to loose power. So thats why they hate them!

[Saritelli]

Banks are afraid of new technologies, they understand that their time is running out and will soon be replaced. They can resist, but it will happen anyway. And I think that this will happen pretty soon.

[mrsimons121]

Bitcoin hated by banks and central banks because they can not control on bitcoin supply. As we know, central banks become so powerfull because they control money supply and with bitcoin existance, they feel disrupted their bussiness

[fcklife]

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 ban bitcoin because it is a big threat for them. When all of the people around the world will be using bitcoin,banks will become bankrupt.

[overseer470]

Causes of hate and control of the brands are not in their possession The reason why the commission rates do not go to them The reasons that are contrary to the winning policies Between 7,000 and 7,000 dollars in the loan Loan of $ 8000 in the sense of giving 7,000 dollars in the time Bitcoin 12,000 dollars to the guy, it is not a suitable instrument for banks.

[Maveric99]

I think banks do not hate, crypto is what makes the bank itself will reduce the cost of maintenance / audit and internal scurity them. all they see is buyers crypto has fiat. and transfer the fiat to someone else's account so buyers can get crypto.
no fiat is destroyed / taken from the circulation only the movement of money flows between one account to another account as well as buying one item or buying other goods so as not to affect.

[tazman]

One of the reasons why banks hate cryptocurrency because cryptocurrency offers more than banks. Your money could be highly increased  in just a short period of time than banks. Thus, you can have a better investment if you will put your money into digital cryptocurrency.

[AltCoinBuddah]

I think banks will lose their profits, so for them-they would rather keep the money in bitcoin than keep it in the bank. because profit in the bank is very low, compared to what we store in bitcoin more profit.

[bitfocus]

Because they cant control it, and they can jump into it - but they will soon adopt Bitcoin and other crypto, may be in a decade.