Why many banks hate cryptocurrency ?

[pallang]

Maybe some banks hates Bitcoin because they think that cryptocurrency is a big threat to their business operations just because it will lessen their customer's but some don't because they believe they have their own strategy and people will keep on using banks in their transactions.

[Rajamuda]

I think if they have really learned more deeply about all things related to bitcoin/cryptocurrency.. I'm sure it will be supported on all sides of its excess. For this moment it's still a matter of concern or has certain considerations related to certain risks, well.. but somehow it will be in the future due anyhow it hasn't ensured that it will always be banned.

[sergiom]

I agree with many guys here, that reason can be that bitcoin is dangerous to them, so people would not need banks anymore in the case.

[zxrcoin]

The banks hate cryptocurrency because they face difficulties because of the volatile nature of bitcoin and this is may be the reason of their such hatred.

[Sakhawat169]

Banks doesn't hate cryptcurrency.Actually they don't know about the value of cryptocurrency.

[Tuyoqhh]

Because BTC is a co-compete with banks.

[bontkoli01]

From my perspective i think banks hates crypto currency because they have no control over crypto currency another reason is they think if crypto currency available in the market then their demand will be decrease.

[Tilysoo]

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.

[Df9898]

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

[CAPTEZECC]

Almost everything about crypto currency and blockchain is in opposition with the banking system. The banks are afraid that once bitcoin is fully legalized by most countries they are almost out of business and they will be paying taxes to the government for nothing.

[livvsyth]

Bitcoin is a threat to banks, because bitcoin will take away many banks' customers, and some businesses overlap with the functions of bitcoin. I don't think banks will be more open to the special currency in the short term.

[Persiville]

It is not just me but a lot of people on this thread would probably say that because they are scared or afraid of what bitcoin can do and to think that they cannot also tax every transaction being made, surely they will find a way to prohibit or if worsts comes to worst they will really ban it. I know many people also would oppose the idea of banning crypto or taxing crypto but what if there is no other way around? should we just let the process destroy its natural features such as being decentralized? i am also wondering about that.

[Coinlover9]

Probably most of them because it's a direct threat to their hegemony

[BIRC]

Very sample. In fact banks should hate cryptocurrency.

Let's take Bitcoin for example. According the original theory & mechanism of Bitcoin, banks will be unnecessary if blockchain and Bitcoin is popularized in the world. So banks must take some actions to prevent it.

[mybtc1234]

Bitcoins will replace them and take away their clients, because it is clear that the freedom and the advantages of bitcoins is far better than holding your finance with the banks. This fear is the reason banks don't want to adopt it as part of their services.

This true. Banks are fear on crypto currency.

[Blockpass]

Banks want a cryptocurrency they can control. Take a look at Ripple and Hyperledger.

[max1616]

There is only one reason for this..The banks see Bitcoin as a huge and dangerous competitor to them..But it is impossible to stop Bitcoin.

[AliMan]

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 ?

Simpy they fear that cryptocurrency will replace them.  The growth of cryptocurrencies has surpassed all expectations and, while the notion is still quite young, it does have the possibility to shake up the aging fiat system. Cryptocurrencies run on blockchain,  The blockchain is also a lot more secure, meaning fraud and hacking attempts are unlikely to work. Centralised banks are more open to hacking and fraud attempts than cryptocurrencies on the blockchain. So the banks know that they are more vulnerable than cryptocurrency.

[Kinkadeinspired]

Because BITCOIN is going to end the stilling amongst bankers that's why they are hating.
But to be honest Crypto is here to stay and there is nothing anybody can do about it.
Thanks Nakamoto Satoshi for this great transformation!

[Roadarks02]

There is only one reason for this..The banks see Bitcoin as a huge and dangerous competitor to them..But it is impossible to stop Bitcoin.

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. Cryptocurrencies are seeing their size and value top even some of the largest financial institutions in the world.