Why many banks hate cryptocurrency ?

[bdsharminsoltana]

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?

[WWoF]

They hate cryptocurrency because if fiat will be die in the future and if people will change their money fiat to cryptocurrencies we dont need banks anymore. We can control our money and we can use our money with decentralised aplications.. We will not use banks in the future if we switch fiat to cryptocurrencies. They can not control cryptocurrencies. Goverments and banks hates crypto because of that .

[bubblebubble]

Cryptocurrencies have inside the system to secure own value that is the role engaged by banks for fiat currency.
So the avversity is clear!

[sturec22]

Here is a nice article about your question.
https://www.ccn.com/innosilicon-a2-terminator-scrypt-asics-first-28nm-chips-litecoin-dogecoin-mining/

"Bitcoin is a decentralized cryptocurrency, not in the control of banks, and people are wondering why banks hate Bitcoin. "

[Ghozrd]

I've discussed this, banks actually don't hate crypto, if they hate crypto they won't adopt blockchain, crypto technology, and blockchain can't be separated, in the near future, I'm sure the bank will do it.
in fact, banks can adjust prices from crypto, if prices change, they can make changes to the rules they have.

[Zurcemozz]

its because cryptocurrency will replace banks in future, The fiat money will disappear. and also they can't corrupt and get taxes for the customer

[trackermoney]

Because the Bank and Cryptocurrency have different principles and different technologies used and the purpose of Cryptocurrency is very painful for banks. Banks still use the Centralized system while Crypto uses the Blockchain as its technology. Therefore the Bank really hates it, especially Bitcoin, because its main derivative is to make Crypto especially Bitcoin as a digital currency that replaces fiat currencies, so if this happens. then not a few banks are bankrupt.

[88percent]

Because the main purpose of Cryptocurrency is to make crypto as digital money used in everyday life and automatically fiat money will be defeated. Because the Bank uses fiat money as a transaction tool, it is clear, why Banks really hate Crypto especially Bitcoin because their goal is to defeat fiat money and replace Bitcoin digital money.

[ZionRTZ]

Simply because it is decentralized, I do not think there are other reasons besides that one. But I also found out that there are banks that are also friendly with cryptocurrencies or at least with blockchain technology.

[MOProgress]

I think most banks feel threatened by cryptocurrency, If many people should keep their money in crypto, it may left the bank with almost nothing, so they are afraid that the reason.

[Fenix]

Many people are now switching to the use of cryptocurrency, and therefore turn less to banks. Bankers lose part of their profits. Of course, they won't like it. However, after the states legalize cryptocurrency, banks will have to coexist with cryptocurrency and provide certain services in it. Cryptocurrency, non-cash money and the usual national currency will continue to run parallel with each other in the future and no one will replace anyone.

[Dkingbh]

They hate cryptocurrency because if fiat will be die in the future and if people will change their money fiat to cryptocurrencies we dont need banks anymore. We can control our money and we can use our money with decentralised aplications.. We will not use banks in the future if we switch fiat to cryptocurrencies. They can not control cryptocurrencies.

[icolumnist]

Why shouldn't  they.  Cryptocurrency  is the first the biggest potential thread for them . They are against free trade which but blockchain and Cryptocurrencies allows you to do it without any doubts . Also central banks are very  annoyed with the money that  , they cant track and trace .

[Abusadeeq6]

They hate cryprocurrency just because its getting people interest and finally if the government implement it, its will disrupt the banking system at all. No much profits for them

[oxwell]

Because Cryptocurrency is digital money. Crypto's main goal is to replace real money. So this is what causes banks to hate Crypto because if Kripto continues to develop and there are many enthusiasts, then the Bank will be eliminated and many banks in the world will go bankrupt because there is no fiat money to be processed.