Banks will always be against cryptocurrencies?

[bigdude]

Bank will always be against cryptocurrency and I believe that.If people start using cryptocurrency they will not store there money in bank they will keep there money in crypto.Because bank have some rules which people hate.If people start using crypto then bank can not make profit.  

haha not just about the bank. This is nation laws. They can't accept anything related to financial and it anonymous.

[1715073993]

1715073993

[sabine80]

banks will not miss out on the progress and will soon be using a blockchain. i am really convinced of that and think that it will come in the coming years.

[Buttermellow]

No not really for banks are also enjoying the cryptocurrency. Payments for local exchange are using these banks to accept payment for them. In this way banks will be earning from the transaction being made when you pay using the banking system especially if it involves huge  money. There is no way you will going to trust the online payment system when you will going to transact huge value of money.

[Pamadar]

banks will not miss out on the progress and will soon be using a blockchain. i am really convinced of that and think that it will come in the coming years.

They've already seen the advantage using blockchain and for sure they will take any advantage that they can get in order to benefits from this system, banks might just waiting for the right timing before they will start adopting the service, or they already using it without prior notice, not talking about ripple but maybe bitcoin itself for some internal transactions between branches to branches, who knows..

[ongkok87]

Bank will always be against cryptocurrency and I believe that.If people start using cryptocurrency they will not store there money in bank they will keep there money in crypto.Because bank have some rules which people hate.If people start using crypto then bank can not make profit.  

haha not just about the bank. This is nation laws. They can't accept anything related to financial and it anonymous.

not only that but the bank is also afraid that if bitcoin is legalized in the country then the bank is afraid that the customer is moving to bitcoin and other crypto

[worldtraveller321]

In general if the banks want to survive . they will have to become crypto exchanges. as most banks are really just companies. they can rebrand themselves.

in general though, there really isn't a threat to them yet, only 1% of population is in crypto, so a long long way till there is any mass adoption..

more less they don't have to worry about anything yet

[adpinbr]

of course,  it will. both are strong contenders for financial institutions and are a competitor of one another because they can almost do the same things and that's why many businessmen are also are mad because their property (banks) is being rotten.

[Sihab76]

Banks can't control decentralized currencies, they able to control centralised currencies which is permitted by governments. Bitcoin such kind of decentralized currencies so that banks can't control it... So they always against it.

[Corelianer]

Banks will soon be forced to adapt to it, we can already see it on the example of such as Goldman Sachs, etc.

[NEERAJ ANAND]

This is not totally correct assumption as many banks adopt this technology and connected to Ripple. This technology is gaining ground and we will see many new banks adopt it in near future.

[Elqui]

Yes thats true, but not all banks is like that, and im sure that in the near future, banks will soon start to partner with cryptocurrencies for a better way of making transactions.

[CryptoSmile]

It is true, banks will always oppose cryptocurrency, and they will try to get government support to get rid of cryptocurrency. This is because with the existence of cryptocurrency, banks will experience a decrease in turnover or even loss due to some bank customers will withdraw their funds and switch to cryptocurrency investment.

[luckybit1]

Banks are free to be against cryptocurrencies! It's normal as is a free world.Banks are always threatened by digital money such as electronic system of transaction.

[wangchuanlai520]

Banks are slowly utilizing the blockchain technology. Same technology behind the cryptocurrency. In the future, banks will use this cryptocurrency too depending oin the demand from public. If the community is big enough, its an opportunity in business especially  for banks too.

[jak3]

In future everything will work under cryptocurrencies or maybe even better system then what we do they have, they say you cannot trust a system if it is not under the government because who is going to pay you if some scam or something got your money who will be blamed for them. Does it really matters does government is paying anything to us when we are getting scammed right now. Augment do not fulfill half of their promises and Bitcoin does whatever it has told let me know it is a transparent network with military-grade security and we have not seen that now any of those rules are violated. So we can conclude if money is in hand of the human then it can go wrong because of human intentions but machines are not going to be greedy are not going to make any false decision.

[SemionDevyatkov]

The real answer to the question "why banks don't like cryptocurrencies" is that they feel a certain threat. The growth of cryptocurrencies has surpassed all expectations, and this phenomenon is still very young, but it has the potential to shake the aging system.

[amar786]

banking system is not based on block chain system . crypto is the purely introduction to the block chain system. block chain is the revolution in the transaction system and it will provide easy access of people sitting any where in the world. that is why banks always oppose the cryptcurrency.

[Nanagyasi]

Banks may be against btc because people are gradually moving their investment from banks into btc but they they cannot speak ill about the importance or the significance of the features of blockchain technology to their services. Maybe they may be forced to go into crypto based on what blockchain can offer to their services.

[Pinkris128]

The real answer to the question "why banks don't like cryptocurrencies" is that they feel a certain threat. The growth of cryptocurrencies has surpassed all expectations, and this phenomenon is still very young, but it has the potential to shake the aging system.

Yes banks became afraid on it because bitcoin was very different compare to fiat currency. In addition the volatility of it was also a problem for them. Bank think that people will adopt it more. The decentralization of it was also one factor why banks are against on it because no one control its price even the government.

[nahotachikwem]

Banks will always be against cryptocurrencies not only because it is decentralized but the fear of its domineering power.