Why many banks hate cryptocurrency ?

[Idaujotaite]

Because it's unreliable. The prices are unstable.

[ogini]

They are very much afraid that the cryptocurrency will over take the banking system ,they know that if even the opportunity the cryptocurrency world will be taking the lead

[THATBTC]

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 ?

cuz this is his business lol

[yudi31]

Banks hate Bitcoin

Banks have been part of our society for so long that we forget what exactly they do. We regard it as a bastion of security and stability. They hate Bitcoin because of that inherent instability.

[engrshu]

Because they can see that BTC will surely exceed them in the near future. We all know that cryptocurrency is the future and that's how the banks will lose all the control of the money, and thats why they hate crypto.

[crustycrab666]

Banks hate bitcoin since it'll someday overtake them. just like what the email did to post offices. the new replaces the old. the old would do everything in its power to remain at the top. unfortunately for them, change is inevitable. crypto will replace banks and its bound to happen no matter what they do.

But, the central bank with the government. The position of the bank is very strong legally. Bitcoin has a decentralized system that changes the dominance of the centralized system, this is an improvement. But the position of bitcoin will be weak if it is not supported by the government.

[melekseverce]

Because people do not need banks to use crytocurrency. Banks fear that the use of cryptocurrency eventually make them useless.

[tesmark07]

We all know that cryptocurrencies don't even need the help of any banks. So I think that is the main reason why many banks don't like the Blockchain technology.
Because if the cryptocurrencies will be recognized as a modern currency I think many of them may be disappear in the new future.

[hahay]

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 ?

Yes it also happens to my country, the government is still being neutral on the crypto but the bank in my country has banned bitcoin. I do not know for sure what the reason is, but I would argue if the bank just does not want to lose their customers, because after all we know if the blockchain technology can greatly facilitate us in terms of transactions.

[organelles]

Banks feel threatened by the existence of cryptocurrency,. Cryptos tend to address the weak points of the banks and perfect on some activities the Banks aren't doing so well.Cryptocurrency tend to keep the coins safe under the protection of the hack proof blockchain, further more, the transaction rate in crypto is faster, taken seconds t receive your coins in the wallet as oppose  to the Banks where transactions can take days. the money in the crypto circles is also not influenced by external institutions ans tax free

[Fakrull]

Banks bring the reason to hate Bitcoin / criptocurrency due to inherent instability,
Banks are also afraid to compete with criptocurrency because more and more people are turning to bitcoin.
if in my opinion personally, in a company is reasonable there is his rival,
The term is like a rich man, not in say a rich person if there are no poor people, as well as banks and bitcoins.
if the bank is afraid of being taken into custody by its criptocurrency it is fitting that they make the technology even higher in transactions or create their own virtual currency .

[378budiman]

As time passes, bitcoin slowly becomes popular all over the world because of its purpose, benefits, and superiority that appeal to many users. And banks are threatened by bitcoin because they think if people start slowly the banks will be forgotten by anyone and bitcoin replace it.

[Tiger Junk]

thos moves to not allow moey washing and to protect there goverement , there clients and thats a normal and expected thing

I think many banks all over tbe word hate cryptocurrency because crypto currency is a big threat to banks in the future and i think many peole in thus world will support cryptpcurrencny that's why banks hated cryptocurrency.

[satria2]

thos moves to not allow moey washing and to protect there goverement , there clients and thats a normal and expected thing

I think many banks all over tbe word hate cryptocurrency because crypto currency is a big threat to banks in the future and i think many peole in thus world will support cryptpcurrencny that's why banks hated cryptocurrency.

This is indeed a huge threat for banks to receive virtual coins in all countries. This will be a big problem for them.

[anti76]

Because the crypto currency is invented in order to exclude the role of banks in our world. At the moment, any transaction passes through the bank (for which you pay a commission), the crypto currency is directly passed from person to person.

[intoy_victor]

I don't what is exactly reason why they are hate crypto currency. Maybe they know crypto currency are volatile that could possible lose their funds or lose their customers if they struggle some problem about their stocks and distributing the funds or exchanging from crypto to real money.

[Raven91]

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 guess almost all of the bank hates cryptocurrency but also their are some that adopting bitcoin is many aspect they know that bitcoin is really a great system also can be use in bank system but if cryptocurrency gets popular we know that cryptocurrency is a virtual or cashless society meaning we dont have a physical money and if that happened physical money will be wipeout.

[Black Angel]

Cryptocurrency is a new system that many believe will change the transaction system, everyone can control their money whenever and not dependent with the approval of certain parties, this is what makes banks worried about the development of bitcoin so they hate bitcoin.

[KingOfWinterfell01]

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 it is because of competition. Competition drives banks to lock themselves away from cryptocurrency investments. If they continue to do so, the value of fiat money will deduce to nothing while cryptocurrency dominates the market. This is bad for the banking business.

[Mujensirio]

because crypto has press attention