Why many banks hate cryptocurrency ?

[znakistu]

"Banks" do not have enough or no incentive "to link themselves with bitcoins and crypto currencies because of fears of being involved in related illegal activities," said Executive Director of Credit Suisse. Chief Financial Officer of ING also voiced fears about the crypto currency, saying that although digital assets are an effective medium of exchange, the bank does not recommend clients to invest in them. While TD Bank is actually trying to block the purchase of bitcoin.

[Timere]

It's obvious that with the development of the crypto currency, banks will lose their income. Bitcoin banks are uplifted as a threat to their existence

[jeanifersoena]

Many banks have begun to integrate the blockchain system into their systems. It's a big step for technology.Banks do not like the crypto exchange for this reason. We learned the blockchain system through the crypto stock exchange.This is a sign that bitcoin is a threat to the banking system since bitcoin wants to replace the banks with bitcoin wallets.

I think they are afraid that they might be replaced by crypto and maybe they didn't want crypto stay in its position and they want to ruin it to fall and not to improve,they think that way.

[jake zyrus]

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 there are a lot banks that hate bitcoin because they are paranoid that they will loss customers since bitcoin is better in my opinion. The industry of cryptocurrency mainly spreads on countries with advanced technology which is also the place with the high demand for finance. They just afraid to lose in the competition.

[schatzi]

The reason the banks hated Cryptocurrency because there is no authority in charge, there is no official administrator, there are no underlying asset the underlying price of virtual currency, as well as the fluctuating value of trade so that vulnerable risk inflating.

[Gudhal Untu]

CRyptocurrency is a very serious competitor for banks, no doubt that the presence of bitcoin makes banks feel threatened because everyone prefers to use bitcoin rather than banks because it proves to be more profitable than we send money using banks service.

[boty]

I think many banks are afraid of cryptocurrency such as bitcoin because I see bitcoin has a very sophisticated technology in terms to record all transactions and used for all existing transactions, bitcoin can also make people become rich so as to make banks be afraid if losing some its customers.

[jpespa]

They don't hate bitcoin, they are just being cautious with them since dealing with an unstable currency might affect their company if they just accept it without thinking properly.

[RKSummer]

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 just being worried that bitcoin may threaten their financial stability but it doesn't mean that banks hate bitcoin. They are just afraid that fiat currency will devaluated because nowadays many people are now engaged in cryptocurrency.

[Mr.John19]

With the assistance of modern technology these days, we have digital currency. The blockchain and light network (amend me if I am wrong) have the ability in a quick and simple exchange with well-disposed fees offer. Digital money is an autonomous and no need of outsider to influence exchange you too can make internationally exchange with security and rapidly. The explanation for banks abhor cryptocurrency since they see the more they customer decide the cryptocurrency more than bank and they see the cryptocurrency is their a contender.

[aileenc]

Banks hate cryptocurrency because they see bitcoin as competitor. Banks feel that they may be replaced by bitcoin.

[CoinstarF]

if that's for sure. if we look at the presence of bitcoin some people prefer to keep their money in bitcoin rather than store in the Bank. they also prefer to make transactions using the bitcoin system rather than via the Bank .

The reason banks hate crypto due to competency of rolling money investors are attracted in crypto and invest because of higher profits .

[Badik]

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 ?

Bitcoin and other decentralized crypto currencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank. Thats why bank afraid to promulgate the use of cryptocurrency.

[cokkapaga]

The banker are scared the cryptocurrency is better than the bank, the bank is centralized and the crypto is decentralized
they hate cryptocurrency, if many of people is moving to the crypto, possible the bank is collaps.

[kuto]

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 ?

Bitcoin and other decentralized crypto currencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank. Thats why bank afraid to promulgate the use of cryptocurrency.

Banks are scared to cryptocurrency that's why they hate it. Since cryptocurrency is a decentralized currency trading is easier and at the same time learning is easier. Your investment return is huge compared to bank.

[kimochidesh]

Using blockchain, where all the transactions are safely linked together and are verifiable, open or available to everyone which makes it more immune than centralized banks. So this makes banks and other financial institutions totally unnecessary. This is the obvious reason that why banks hate cryptocurrency.

[budakjawa]

I see a lot of banks that hate and dislike bitcoin because I see bitcoin has very good technology that makes banks frightened, with bitcoin people can become very rich. its use is also very easy and safe.

[zekeshawn]

It's simple! Banks hate cryptocurrency because its decentralize so it means that they won't be able to control crypto unlike paper money. Crypto is a threat to banks and they are afraid that one day they will be replaced by crypto that's they try so hard to put down crypto.

[ErlindaBit]

We know that the popularity of the cryptocurrency is skyrocketing, and this is a threat to them (the bank). I heard the news that the world cup will involve Bitcoin in the ticket payment method and the other, bitcoin is getting popular and lots of its users. So, surely they hate Bitcoin.

[handini]

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 ?

if I think that bank forbids the circulation of bitcoin, because according to them bitcoin is their competitor, especially now bitcoin with bank, even more bitcoin bit, hence from that bank feel unrivaled