Why many banks hate cryptocurrency ?

[kipo]

They are afraid that it will become the main currency and I am sure it will become in the future. it won't be very good for the banks. I think everyone understands this. but i prefer btc!

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[TRON0824]

Because they didn't control people . Bitcoin is for everyone . maybe its great to learn more and start using blockchain in any Banks . just what Unionbank did in the philippines .

[noictib]

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 ?

In actual bitcoin is a competitor for banks because before the existence of the bitcoin , banks were getting lot sir Investment easily from the people normally in banks but now after the entry of the bitcoin most of the people are thinking to make lots of earnings and making Investment in different different types of the altcoins and coins and that are leading into down in the amount of the money collection for the banking sector , so they don't want bitcoin in their business and also they are using therself technology of the bitcoin ( few banks are starting ) , so here bitcoin is better at its place but banks are not in favour because of Thier own need and worth making reasons .

[kalstarzz]

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 ?

already many people who ask this. banks prohibit cryptocurrency is not surprising anymore, because in the presence of cryptocurrebcy can reduce their income or income. Why is that, ?
because cryptocurrency does not require a bank at all.

[Broesel]

Because banks act as middleman between two people which want to exchange money, generally speaking. And cryptocurrencies are exactly the opposite. They abilish the middleman and give the rights back to the people holding the money/coins.

[SadEmo]

Probably banks don't care about cryptocurrencies becuase people have no choise and they must use national currencies. I'm not even talking about old people who don't know about crypto.

[yusupjatigumilar]

because, if bitcoin is used as a means of payment of the currency of the country, the exchange rate will weaken and if it continues to be allowed the country will experience an economic crisis because their currency is no longer used, so to anticipate the government is a ban on bitcoin and other cryptocurrency

[Syunusa]

Many banks see Bitcoin as a threat as many investors that suppose to do business with bank are focussing on bitcoin and this has make banks profit to reduce.

[Rinzo]

bitcoin is a decentralised currency which operated using the blockchain technology and that allows users to have absolute control to trade with each other without the need for a middleman. in today's modern day commerce a bank usually takes the role of the middleman which generates revenue for the bank. they make money just for holding the money for their users but in bitcoin technology, you do not need the bank to help you hold you currency, you just need your wallet. this does not generate revenue for the bank hence they hate cryptocurrency

[Renampun]

I guess at the moment they do not hate cryptocurrency, they just do not think there are a better system and technology than the current banking system,
look at the next few years, I'm sure the Bank will start to rival Bitcoin and other cryptocurrencies by making their own crypto coins...

[lukeclick]

Banks are threatened by the existence of cryptocurrency. Crypto tends to a dress the incompetence of the Banks , such as their accountability and  The transaction speed, areas where many banks has slugged, people adopting crypto also means that there will be no one banking thereby threatening the existence of the banks themselves

[Iconic Love]

Usually when people sent momey or exchange any currency. they charge money for it and this brought a bigg amount of money for them..now with the help of onlinw wallets and crypto currencies like bitcoin  we dont have to a pay extra money to the bank and we can recieve or send anya amount of transaction very easily within a second.for that banks economic satistic of profit is falling downn and beacause bitcoin transaction is very faster than bank..so it has an effect on people.......
because banks are not getting. profit. like before and loosing worth so bank hates crypto currency

[amaydel]

Banks are actually skeptical about bitcoin's success in the past years but now, when bitcoin became the mainstream and is already successful, it was only then that they realized the threat bitcoin has against them. It's just like what happened to the postal industry when email became mainstream.

[Demughni]

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 ?

Because The bitcoin is a great technology and the future assets. It will be needed in the future. The banks afraid about it. They worry the people prefer crypto than fiat.

[jak3]

First of all banks does hate cryptocurrency and why not we are surely going to embrace Bitcoin because the inherit all the features of bank but also provide a lot of improved features which needed on the economic of every country. Bitcoin is a great tool rather than a new currency but still it is far better than any banking system and the more importantly we don't have to follow someone we can be free and can do whatever you like without having any minimum or maximum money limits or even compromising our privacy.

[Larrycool]

Not really hate though, but the big revolution in financial activities.Cryptocurrency is an independent and no need of third party to make transaction you can make globally transaction with safety and quickly.Bank have threat that banks will loose value because bank transactions are too late and hurdle of paper work and people loosing interest in traditional banking system of nowadays.

[lissa brak]

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.

[zarintasnim]

Actually bank dose not hate cryptocurrency. They fear about it. In future cryptocurrency will replace in banking system. and their customer will gone crypto sector.

[12tribes]

The feeling is clearly expected as it becomes clearer by the day that the emergence and the continual domination of cryptocurrency is the end of the road for business by banks and finance houses. Crypto is here to stay and bring a positive change to the way we now live our lives.

[johnlhy253]

banks hate crypto, because they have no control on it.