Many banks hate cryptocurrency because bitcoin is a decentralized system its gives you the independence. If the clients of those banks start investing on bitcoin, they fear that the clients will replace bitcoin with them .So they barnned bitcoin .Moreover they can not contol it and can not take advantage of bitcoin.
Topic: Why many banks hate cryptocurrency ? - page 2. (Read 1949 times)
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 answer is very simple because they had that fear that bitcoin might replace them. One of the main reason is the creation of bitcoin. It is to replace the banks. And nowadays, a huge transaction was already made with the help of bitcoin in transferring a huge fiat of large distance in a more east way. And transferring the equivalent bitcoin in just a short period of time.
Because several banks will give free transactions in their particular country but this cryptocurrency can be used to transaction freely in all over the world without any restrictions also many of bitcoin users are using this cryptocurrency banking as their own privacy banking.
Because they sees it as threat to fiat money
Because they cant control it, and they can jump into it - but they will soon adopt Bitcoin and other crypto, may be in a decade.
I think banks will lose their profits, so for them-they would rather keep the money in bitcoin than keep it in the bank. because profit in the bank is very low, compared to what we store in bitcoin more profit.
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.
I think banks do not hate, crypto is what makes the bank itself will reduce the cost of maintenance / audit and internal scurity them. all they see is buyers crypto has fiat. and transfer the fiat to someone else's account so buyers can get crypto.
no fiat is destroyed / taken from the circulation only the movement of money flows between one account to another account as well as buying one item or buying other goods so as not to affect.
no fiat is destroyed / taken from the circulation only the movement of money flows between one account to another account as well as buying one item or buying other goods so as not to affect.
Causes of hate and control of the brands are not in their possession The reason why the commission rates do not go to them The reasons that are contrary to the winning policies Between 7,000 and 7,000 dollars in the loan Loan of $ 8000 in the sense of giving 7,000 dollars in the time Bitcoin 12,000 dollars to the guy, it is not a suitable instrument for banks.
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 ?
They ban bitcoin because it is a big threat for them. When all of the people around the world will be using bitcoin,banks will become bankrupt.
Bitcoin hated by banks and central banks because they can not control on bitcoin supply. As we know, central banks become so powerfull because they control money supply and with bitcoin existance, they feel disrupted their bussiness
Banks are afraid of new technologies, they understand that their time is running out and will soon be replaced. They can resist, but it will happen anyway. And I think that this will happen pretty soon.
The thing with cryptocurrencies is, that it has value. Look at the market cap from all cryptocurrencies. The banks see that they can not controll this amount of money. And its growing all that. Not controlling the money means for them to loose power. So thats why they hate them!
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.
People will transfer to digital currency and will not use the banking system anymore
Not only on overseas hate about cryptocurrency by bank but also in my country bank still hate cryptocurrency. Bank team never think about how much money was withdrawal by bitcoin member to bank every day and billion transaction is income to bank by withdrawal money from bitcoin. but bank still hate bitcoin transaction and keep away for people to invest money on bitcoin and cryptocurrency. So far in my country have billion of money withdrawal from bitcoin to bank account.
I guess most people are compatible in bitcoin they seen their money in their cellphone through digital wallet and no charges, the bank are being afraid of replacing them by the bitcoin and the people are not willing to diposit in bank.
Banks have mostly opposed cryptocurrencies because it is more profitable than the traditional bank, and also why banks dislike cryoptos probably because they feel threatened
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 ?
may be from different systems and types of money issued and the bank also can not accept with the bank system and the crypto currency system itself may be a bitcoin value greater than the local currency in circulation 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 ?
Some banks have cryptocurrency because they have not been able to control these virtual currencies and they are afraid they will make them more confused and lose control over them so they are afraid of cryptocurrency.Many banks hate crypto for the reason that bitcoin can take over their business. People will transfer to digital currency and will not use the banking system anymore.
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