Why many banks hate cryptocurrency ?

[jonloner011]

BTC is increasing day by day and this pull made the bakers worried because people investing money on crypto system and this system is the main tension for banks because people using their idle money and this money can be on banks but they hare investing so banks thinks this a thread for them.

[garybyerz]

they ban bitcoin rather than using it only because they don't want something which can't be controlled by them. other then i can't see any single reason to not supporting bitcoin or cryptos by bank or government.

[cherryscarlett]

Because the cryptocurrency market could have a big impact on the traditional banking industry.
So it is perfectly understandable that Banks have banned the circulation of cryptocurrency markets and the resistance to bitcoin.

[jamesmitchel018]

People are now shifting towards crypto currencies and they feel more convienient to use it. This is why the popularity of bitcoin is increasing everyday. On the other hand, banks think bitcoin as their threat because of these resons and they think their business may get drop off due to this.

[garymorgen]

There are many banks who have refused to deal with crypto currency. Crypto currency is individual and independent. No one can controls it. Not even the banks. Besides, they're getting so famous that the banks are thinking cryptos can replace fiat currencies. This is why banks hate crypto currencies so much.

[Joseph cristian]

The bank is afraid of losing control. Because Cryptocurrency offers a system that restores control, and power to the real money owner, and the only way to fight for it is to show the will of people - using Bitcoin's banking services, and personal services.

[Kambal2000]

There are many banks who have refused to deal with crypto currency. Crypto currency is individual and independent. No one can controls it. Not even the banks. Besides, they're getting so famous that the banks are thinking cryptos can replace fiat currencies. This is why banks hate crypto currencies so much.

They don't want something that would be threat to their interest and they are treating cryptocurrency as a way that could be threat, so they are doing anything for them not to enter in their world, but so far now since they are seeing that people cannot control anymore that they already in love with cryptoocurrency.

[stepanovage]

Banks hate bitcoins because:

1) It reduces their business and makes them weaker.

2) They loose customers as people prefer bitcoins because of less fees.

[Zaibraid]

I think that almost all the banks around the world don’t like cryptocurrency. I analyze in the presence of cryptocurrency then the bank will be threatened by cryptocurrency’s existence. When the customers switch to cryptocurrency then the bank will not have customers so the bank will be bankrup. Besides that, the bank is afraid of losing control. Traditional banking services appreciate that the control they have over their customers and customer’s money. If banks hold the control of their customer’s money but cryptocurrency offers a system that restores control and power to the real money owner. But both of them, the banks and cryptocurrency, have weaknesses and strengths.

[zuninholo]

BTC it is a co-compete with banks

[nganhaj]

In my personal opinion. Dollar is very good profit for them, they easily control everything

[jannatakter]

Because cruptocurrency is no control but bank is limit control and everyone use it very easy

[zarados]

there are several factors why banks are reluctant to adopt bitcoin:
1. No feedback: that is to say they don't feel a positive feedbacks generated from bitcoin nurturing, in fact, their products will be much abandoned.
2. Risk: extreme fluctuation rates make banks reluctant to use it, as it also deals with the risk of bank shareholders
3. Government: the bank is one of the data sources for the government so that if it is related to anonymity, it will be difficult for the bank to prepare the data in case of examination.

[Jihuny23]

Yeah, I think that many banks hate cryptocurrency, especially in my country. The banks think that the existence of cryptocurrency could harm the local currency because it damages the financial system. For example, people would prefer to use cryptocurrency so that cash transactions at local banks will decrease. As a result, the banks could be out of business. The banks and cryptocurrency must remain to complement each other. Cryptocurrency can not stand without the banks because not all countries and not all stores receive payment with criptocurrency.

[rameshrajan1000]

The bank can not take full control of the cryptocurrency. Its functionality cannot be fully monitored. The governments do not take full effort.

[nilavoro]

Banks do not like hate crypto because it is reducing their business. They are thus trying their best to spread negative things about it in media.

[google98]

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 do not like the crypto currencies because they are decentralized and banks are losing their influence on the money. But as a whole, more and more banks are turning to blockchain technology, and in particular the centralized Ripple.

[galaxing]

bitcoin is a great technology and a future asset, and this is a great opportunity for banks to use bitcoin as its contribution. I think They do not hate cryptocurrency, there are only a few people who do not believe in technology because they do not know anything about it.
My greatest hope is that banks and bitcoins will work together.

[maslovp]

See they are behaving as hypocrite, banks are saying that crypto is bad. But at the same there are media reports that banks are going to invest in crypto as well.

[kissme09]

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 do not like the crypto currencies because they are decentralized and banks are losing their influence on the money. But as a whole, more and more banks are turning to blockchain technology, and in particular the centralized Ripple.

I do not think banks are moving past Blockchain as it is at the center of every discussion and discussion that involves the banning of Bitcoin. The ripple is one of the special Altcoin because a bank uses it as a kind of stock, but the CEO of the ripple has accused of manipulating its price.