Why many banks hate cryptocurrency ?

[Hopeful2017]

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 ?

Banks are losing many investots because of crypto. Also, crypto is decentralized and have financial freedom which are the opposites of banks. Banks want money to be deposited in them so that they can use your money and they will gain profit. In crypto, you use your own money to gain to profit.

[wewe123]

Many banks would hate cryptocurrency because they thought it would be a treat for them , and a competetor for their business, if you save on banks you only have little interest earn, while in cruyptocurrency you could more than what you expect for your money, that is why banks considered bitcoin as treat to their business, because people prefer for a more gain in their money.

[YED]

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. so that's why they ban it and hate it

[ologoff]

Main reason is banks are afraid they will lose there customers.People will not put money in banks instead they will invest in crypto currency . This main reason banks are stopping crypto.

This!

[ronnis.gomes]

Some banks are afraid of losing customers and lower their high profits. However, there are already banks that have noticed that the crypto market is promising and instead of fighting against it, they are starting a movement to negotiate cryptos

[seramania]

such as the general statement with the coming of the market crypto bank will feel threatened and also loss if the bank left the customers to invest in crypto. the reason is very strong and fundamental so do not be surprised if many banks who hate crypto.

[khalis]

In my opinion, Banks hate cryptocurency because they do not want any competitors that are superior to them. Banks know with the existence of cryptocurency investors that attract money from the Bank and invest in Bitcoin and Altcoin so that their income every year will be reduced because people prefer cryptocurency than the Bank because cryptocurency has sophisticated technology.

[real_links]

Banks hate cryptocurrency in general. They feel or they know the crypto world will overpower them. Instead of joining hands together they are now against it.

[Omosomofa]

There are some banks that have hatred for bitcoin in their country because they have no customers to keep in save again they save their in bitcoin wallet. But recently I saw a post about bank adopting blockchain technology because of fraud, this new technology will help them very well. Personally I prefer saving in bitcoin because price goes up money double. Banks are not like that interest pay too low. Am also know about bitcoin technology not regretting take decision.

[asm0305]

Because several banks will give free transactions in their particular country but this cryptocurrency can be used to transaction freely in all over the world without any restrictions also many of bitcoin users are using this cryptocurrency banking as their own privacy banking.

[XpanderaX]

Because the Bank does not want Cryptocurrency to flourish, because if many people are playing cryotocurrency then the person will ignore the Bank, because Cryptocurrency is decentralized and does not require the bank as a third party to help the transaction. if that happens then Cryptocurrency is a serious rival for the Bank, and it could be Cryptocurrency will kill Bank slowly.

[tesmark07]

Because Crypto currencies don't need banks or it will still exists without any help of a bank that's why some union or association of banks especially to those small banks are worried to the popularity of cryptocurrencies nowadays.

[Solenith0420]

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 ?

  Banks banning cryptocurrency is not a threat to them, they are banning crypto because of its unstable value, sometimes it goes up and down the value….Cryptocurrency is volatile that banks is number one concern why others prohibition the crypto, for instance like Bitcoin sometimes it goes up to 20,000 $ per bitcoin and flying down to 7,000 $, that’s the number one concern of bank/s banning it.

[goldcoinminer]

Because Crypto currencies don't need banks or it will still exists without any help of a bank that's why some union or association of banks especially to those small banks are worried to the popularity of cryptocurrencies nowadays.

Yes.If course they should be afraid because they might be all gone when all the countries in the world start to use bitcoin in their transactions.Bitcoin will no longer use banks so it will be more convenient for the people knowing they will control their own savings.

[amadorj76]

Main reason is banks are afraid they will lose there customers.People will not put money in banks instead they will invest in crypto currency . This main reason banks are stopping crypto.

Because they are afraid that cryptocurrency will take over their world and will rule over the business. Now many people are not satisfied with the service that banks give to them so if people will only discover the goodness of crypto, I'm sure the bank is no need in the future

[bellmen08]

It is very normal that banks will hate cryptocurrency. We all hate our competitors and cryptocurrency is bank’s competitor. People nowadays keep money in cryptocurrencies instead of banks. For this reason they want to ban them.

[Elachious12]

Banks are angry with Cryptocurrency because people no longer invest or save their money in the banks, people prefer to invest in Cryptocurrency and HODL rather than keeping it in the bank that will yield no interest

[kastara]

In my opinion maybe the bank was disturbed by the presence of bitcoin system so that the function of the bank will be unstable in my bank function other than the place of deposit money and also the sale and purchase of bank products such as borrow money may I think this one product will not run and the banks will find it difficult to find customers who want to borrow their money in addition to saving customers money and other bank product transactions, and this is my opinion is the loss of the bank so the bank tried to ban bitcoin because if people do bitcoin then the person will be out of their system his life is dependent on bank loans.

[Kelvinid]

In my opinion maybe the bank was disturbed by the presence of bitcoin system so that the function of the bank will be unstable in my bank function other than the place of deposit money and also the sale and purchase of bank products such as borrow money may I think this one product will not run and the banks will find it difficult to find customers who want to borrow their money in addition to saving customers money and other bank product transactions, and this is my opinion is the loss of the bank so the bank tried to ban bitcoin because if people do bitcoin then the person will be out of their system his life is dependent on bank loans.

Yes.Banks are now threaten by the presence of bitcoin because for sure they will be set aside by the people if bitcoin will be the first cryptocurrency to be used by the people.They will have their full control of their money so they don't need banks for it.

[bobylee]

maybe not the banks actuall, i gues governments are against it. theu ban it rather than using because they are confused about it i believe. unless who would ban something with that much potential.