Are banks scared of crypto

[zviadits]

Banks are very afraid of crypto. Fewer people trust third parties. Fewer people choose trading instead of the usual deposit at the bank. Believe me, the banks are scared and understand that their end is near

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[yazher]

I say, No. Because those banks are already adopting most of the way of other cryptocurrencies and some of them are also have their own coins.

We can say that this was the case before like 4 years ago but after that, they know that blockchain can be used to evolved are current Lifestyle most of them are adopting it already.

[antisocial77]

Why would they scare? If system turns to crypto, they adopt their system to crypto.if they dont, it will be tbeir end, so its their choice

[Nadziratel]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

I'd be so scared if I were in the banks. Imagine, even today crypto projects can do many things money and banks can do. Further spreading in the future may put banks in a difficult position.

[kryptqnick]

They are already adopting blockchain technology, so I think they are embracing it because they feel the threat. They must be scared if they do nothing because crypto can really surpass them. If the banks banning your sale or freeze your crypto money, then that’s a normal procedure by AML, and the banks.

I think the reason some of them adopt blockchain is not merely because they want to survive and attract customers. It's also very profitable for them, because international transfers take more time and money, and the fees for transferring a big amount of money are also way bigger than if you use a cryptocurrency for this process. As for bans - yeah, I guess it's an attempt to stay in power, be control the money of people. I think security measures are being brought up only to make it sound more reasonable because so far banks are clearly way more involved in financial crimes that crypto users (if you compare, say, the money laundered in fiat and in Bitcoin).

[Ridwan Fauzi]

Conceptually yes, the bank should have a scared thing to cryptocurrencies because its function is really same even more than simple compared to banks system. You can use or manage your money by yourself without pay some parties to manage your money. And I was thinking that 2009 ago Satoshi had a vision to fight bank system especially in the matter of centralized system.

However, I don't think cryptocurrency can replace the bank function in a few years ahead because the poeple still have a confident against bank. The bank system has a high security I mean when you store your money then your money lose cause some reason then I believe they will replace all your found this thing is so far with cryptocurrencies.

[mk4]

Why would they scare? If system turns to crypto, they adopt their system to crypto.if they dont, it will be tbeir end, so its their choice

I'm not saying that they're scared, but if cryptocurrencies(bitcoin in specific) becomes the new norm as a Sov and MoE, they would need to find other ways of potentially monetizing through it. Remember, they can't print bitcoin at will, like how they can with the current fiat system. It probably won't be as easy and as simple as you think.

[ethereumhunter]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

I think they are a bit scared of the existing of the cryptocurrency because it's not something that they can control easily, and it's out from their jurisdiction. They can not do anything if someone sends money to other people. Besides that, they cannot get any fees as their small profit in running their business.

Maybe we need to talks with the bankers, and see what their opinion about cryptocurrency. But we need to talk to ordinary bankers who are not learning cryptocurrency in deeply so we can know what will they say about cryptocurrency.

[eaLiTy]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

The crypto market is not meant to replace any financial sector but to make things easier for everyone to trade without any restrictions, if you are a global trader you will understand the difficulties when it comes to conversion and transaction charges as well as delays, bitcoin opens the world for a free global trade without the need of a central bank to process these transactions world wide, it will take care of local transaction and for that we need banks.

[nicecrypto]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

Please can you tell me how will they be replaced with crypto? Who will give loans? Who will take care of payments? Cmon man, banks are needed and they can't be replaced but the way banks function is very bad, this has to be changed.
And who says they are afraid of crypto? In some countries banks offer crypto services which includes bitcoin buy/sell, send and etc. It's even good for banks to gain more profit, they aren't afraid of it.

Because some people just have the believe that crypto is a threat to banks and very soon crypto will take over banks, crypto is not even widely accepted yet not to mention taking over banks, i don't think banks have anything to be afraid of, crypto still have a long way to go in the adoption process, there is not even competition at this moment from my own view point.

[rdluffy]

Yes, of course
Some time ago they didn't give a ----- about BTC and cryptos, but now they are afraid about the effects of cryptos and their business
In my country they are closing accounts of exchanges only, but for now, I don't know in future what they will do, but I know they are worried about

[Alert31]

Banks will remain no matter what happen to crypto. People still need a banks even they got more money through crypto. Also not all people using crypto specially those old people who doesn't know it and they only know banks where they can store their wealth. But banks are not scared with crypto they just following their rules and laws about money laundering that's why they are very strict if they money deposited to them are from crypto.

[xamxam]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

as I noticed most banks now are little by little absorbing and adapting the concept of blockchain technology to their
company, instead of worrying or fear, I guess much better for them to join the trend now. Besides, cryptocurrencies nowadays
are becoming popular all over the world now.  

[nankers]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

I don't think banks will ever be afraid of being replaced by crypto. Cause i feel that the bank itself has known and started to adopt a blockchain in their system, so i just think that in the future maybe all cryptocurrency assets can be stored in the bank and if this situation happens, it will increasingly benefit the bank itself. But for some reason maybe banks scared if crypto is used for money laundering that will harm the bank. But it just only my opinion if bank scared of cryptocurrency

[Xumhar]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

When banks will accept cryptocurrency, then the chief designer of the Mercedes concern will drive a BMW, and Coca Cola will advertise Pepsi

[trickyriky]

What is your thoughts on banks banning the sales of crypto do you think they are scared they will be replaced

It seems that now, banks are not scared by crypto but even ready to deal with it. Companies of all sizes are increasingly turning their attention to the banking sector, coming up with new ways to profit. Banks are not far behind and keep abreast of new financial technologies that are changing the world. For example, recently six banks from different countries decided to issue their own stable coins.
Global banking institutions are paying a lot of attention to stable coins because technology has great prospects.

[freedomgo]

No, they can't beat crypto that's why they are adopting on it.
Some banks are already using blockchain, and that is the product of crypto where bitcoin is known.

Fiat is still the most use in the world, crypto is good but there's only few adoption on it for now, but the moment banks starting to accept crypto, it would be easy for us them to transact our crypto with fiat, they are the bridge but the thing that changes a lot is crypto is now centralized as the moment we used their service, we agree with their terms, and it's like we do the regular banking.

[cizatext]

Banks don't have the power to ban the sale of cryptocurrency in totality's, but can just withdraw the support for crypto transactions through their channels and that is because they are afraid of the capacity of the blockchain technology replacing they traditional banking system.

[Mulann2]

I don't think banks are scared of crypto because they don't have any reason to, banks offers a lot of services as a financial institution which crypto do not offer, so far only btc is the only crypto that mostly accepted as a means of payment while rest of crypto are yet to be accepted, so i don't see any reason to be scared of crypto.

[Herry Toms]

Banks would never scared of crypto because they will adopt crypto. Their aim is to make money no matter where it comes from. Bitcoin and crypto are also equated to money. So, Banks will find a way, how to use crypto for their own benefits. I think Crypto adoption will be huge when banks start paying attention to crypto in a serious way.