Why many banks hate cryptocurrency ?

[ArturChock]

After an unusually unstable (even for Bitcoin) beginning of the year, cryptocurrency is growing again, Bitcoin overcame $ 10,000. As of February 16, 2018, the crypto market had a market capitalization of $ 470 billion. The USA is larger than the size of the largest bank in the United States, JPMorgan Chase.
Bitcoin's market capitalization is comparable to the Bank of China. The second largest cryptocurrency by market capitalization, Ethereum, is comparable in size to Morgan Stanley. Statistics like this scare the global banking sector, which is concerned that cryptocurrencies are on the way to have a major impact on their operations.

[Nestle]

Competition and banks always see bitcoin as dangerous. bitcoin can be used as a crime such as money laundering and fraud.

[damsix]

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?

The bank has an institution whose principle is protecting customers.
As bad as any bank and has a large fee for each transaction but the BANK has a responsibility to protect its customers.

The cryptocurrency cannot be protected by anyone except itself who safeguards its assets.

[whitenem]

I think one of the reasons why banks hate btc is because they have no control over it and as of now a lot of people are prefer to invest in cryptocurrency than to put their money in bank.

[Stuart]

Banks are scared of bitcoin and crypto currencies at large. The price of crypto assets does not have a stable price and its not regulated by a central body, which means it cannot be controlled by banks or by the government. That is why it is called decentralized currency.

[Ahmad Arwanj]

maybe because the bank takes into account the negative impact of bitcoin or other altcoins. and it will affect the growth of the bank that's the assumption why the bank forbade it

[Falcon]

Banks hate Bitcoin because they cannot control the founded system.
Another system to applied and another conjoined platform between banks and bitcoin.
The partnership should be tackle as soon as possible if banks wants something to be clear.
The same with bitcoin. Both should be in stable process.

[Coin63@]

Many banks hate bitcoin and cryptocurrency that they don't get any profits from the cryptocurrency trading and mining. Another reason that they are not able to control it.

[Danus]

I think many banks do not like cryptocurrency,because it can simply destroy the entire economy, because it already has a lot of weight

[bhm45]

One of the reasons why banks hate cryptocurrency because cryptocurrency offers more than banks. Your money could be highly increased  in just a short period of time than banks. Thus, you can have a better investment if you will put your money into digital cryptocurrency.

[coinlurker]

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 am not very sure but i believe that the bank does not want to accept cryptocurrency is because it is decntralize and if anything happened to it their brand reputation might be tarnish and they might be afraid of crypto replacing fiat.

[eidoscore]

In principle, the fact that the banking system does not need a cryptocurrency is logical. After all, now banks are monopolists on interest from transactions. But the more cryptocurrency will be introduced into everyday life, the more the banking system will be interested in integrating cryptocurrency into its system. Very quickly they will capture their piece of cake.

of course bank hate cryptocurrency because bank get profit for every fee user transaction, that's whyin Blockchain and cryptocurrency people just pay low fee for every transaction with more advantages like fast, secure transaction than traditional bank system

[icolumnist]

Well the  bank and bankers are worried that the rise of the crypto world will be affecting the banking system quite seriously and will have an impact on their operations.  Banks  are fighting back with making  looby  to fight cryptocurrencies to slow down their growth rate .

As we all know many banks in different countries have recently banned their customers  purchasing cryptocurrency with credit cards.

[Dkingbh]

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 .

[xeroz]

Banks provide a centralized system and all transactions are done with centralized ways. While cryptocurrency creates decentralized system, so people can do transactions with decentralized ways without any one controlling it. I think banks don't like this ways and be afraid. They will get difficulties and losses if cryptocurency is developing till the future.