Typical Banks

[Jromz 2158]

It absolutely makes senses that banks have been trying by all possible ways to hinder the massive adoption of cryptocurrencies, after all they are naturally comfortable controlling people's finances arbitrarily. Yet, on the other side of the coin, banks such as Swiss bank Julius Baer Group, have seen to be more open to cryptocurrency market. This bank introduced a custodial service for digital assets, including BTC, early this  year. 

 

 

[Ryken8 545]

Cryptocurrency is a threat to the banking financial system that are based on fiat currency. Unlike fiat, banks are unable to control the decentralized cryptocurrency system. Each individual will be able to do their own transactions in the crypto ecosystem which makes banks insignificant and if mass adoption of crypto is to happen, banks will lose a lot of their business.

[iloveyobit 6599]

crypto currency is growing up day by day with new project for making people's life easy and to jump to the new generation , banks wont survive in the future and they need to deal with crypto either they like it or not . 

[Reyna 576]

On 12/5/2019 at 6:25 AM, Migo said:

Yes I agree with you, many banks are not accepting bitcoin or they fear to use it because some unknown reasons, but in the future they will adopt it and use it like paper currency 

They're just not accepting it because many countries are not accepting cryptocurrency, if the country accepts cryptocurrency, i think all of the banks in that country will definitely accept it also.

[VijithaVarghese 1994]

I think there are banks that accept cryptocurrency as it's really a very potential matter in the coming digital currency market. German banks are good at this. They handle the blockchain and also includes funds. Good luck friends.

[Syedbesharat 5423]

Some banks goes over board against crypto for implementing crypto cannot be own be their employees this is not right where they can forbid employees to not use crypto in their job timing or don't deal in crypto with their bank account. But taking their personal right of decision is bad thing. They have to think about employees and bring friendly policy to stabilise their  image in public eye. 

[Tine0313 3053]

1 hour ago, Reyna said:

They're just not accepting it because many countries are not accepting cryptocurrency, if the country accepts cryptocurrency, i think all of the banks in that country will definitely accept it also.

I agree, since banks are doing business with other banks, it could be possible to use and accept crypto by these banks if a large banks started to accept it. The competition in these banks could be trigger if there is one could adopt crypto.

[Gluttony 1775]

It is not actually surprising to see this kind of things especially it came out of the banks which are industries that are dependent to the fiat currency. This should be taken in mind because we should know that these two currencies the crypto currency and fiat currency are fighting because they are both currencies being used by the individuals. The only thing that makes it worse for the fiat currency is that the crypto currency could only be seen their value if ever they would get withdrawn out by the digital wallet of a user which would be hard to do since as you said there are banks in different countries prohibiting this kind of action.

[Reyna 576]

On 11/21/2020 at 7:58 PM, Tine0313 said:

The competition in these banks could be trigger if there is one could adopt crypto.

I will agree with you buddy! if there are some banks which is accepting cryptocurrency, most of people will joined or making an account there and the other bank companies will lessen their customers.

[Sarahden111 1231]

The banking system is a traditional system based on deductions and the benefits of deposit and investment, unlike the decentralized world of crypto, and banks by relying on the world of crypto will lead to their non-work and lack of need for them, so a way must be found to ensure their continuity and integrate cryptocurrencies and blockchain in them.

[Onden 2098]

There are always various ways to shrink cryptocurrency, but cryptocurrency developments are still happening. Problem after problem, negative news about crypto and various other issues continue to exist and I don't think it has any effect on its development. Cryptocurrency has always been a threat by certain parties who want to continue to monopolize finance today, we need better financial alternatives, less prone to inflation and crises.

[1qDan 478]

I think that affirming the fact that banks hate cryptocurrencies is something of an exaggeration, recently many have joined forces to create cryptocurrencies or even support existing ones such as Chinese banks with bitcoin or European banks with XRP.

 

 

[Goyaa 2414]

In this case, banks do not like cryptocurrencies because they are considered cryptocurrencies as a threat to them, but now people need alternative money to transact making it easier for anyone. We can trade or invest in cryptocurrency so the opportunity to make money is always there. Like it or not, cryptocurrency will continue to grow, flow by itself like water, this is inevitable.

[khan22 3478]

On 12/5/2019 at 12:00 AM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

Banks not like this becasue they know that soon the crypto market replace them and the peoples will like this market and they make daily basis transactions through the crypto and the bank transactions are closed and their business is down that the main reason.

[Husnyjaf 1784]

Well, I think what they are doing is not appropriate  because we are human and have our choices to make, if we decide to get involved in cryptocurrency , then that is not their business,  beside, the world is still ignorant about cryptocurrencies. All though most staffs may face redundancy that's why maybe. @milanista @Soaib khan

[Fixfin 2569]

I don't know if what Andreas Antonopoulos was saying is exactly what happened as probably a bank did some research and found that some of the donations might have come from Bitcoin addresses that were marked. Even coinbase or binance will block transactions coming from stollen wallets or other activities that are illegal. Andreas couldn't have known of course but the banks are doing aml.

[guatazoo 7150]

On 12/4/2019 at 10:00 PM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

Banks doesn't need people to be using crypto for this reason, if people will be using crypto they must be in touch with forex where by banks don't need people to trade forex because banks are mostly make money in forex, so thats if all users will be trading forex it can cause the forex market to go randomly. And thats why they only need to do forex between biggest companies. 

[Rozy 1918]

It is true , traditional banks are well settled and they hold all the capitals in the world, it is not of a benefit for them for people to start earning and exchanging with cryptocurrencies, because this will undermine a Kingdome they held for ages, but you know what, I think that when they will come to the fact that cryptocurrency is spreading and getting stronger then they might admit its existence and maybe  opening accounts for it, who knows. 

[joemcgwa 3227]

On 11/28/2020 at 4:12 PM, guatazoo said:

Banks doesn't need people to be using crypto for this reason, if people will be using crypto they must be in touch with forex where by banks don't need people to trade forex because banks are mostly make money in forex, so thats if all users will be trading forex it can cause the forex market to go randomly. And thats why they only need to do forex between biggest companies. 

Of course banks, biggest companies and biggest financial sectors they only need to to forex for their own because they are the biggest players in the forex market, so when individual trade in forex also they sometimes makes the market to go opposite than expectedly.

[abohasnn9 2401]

My friend, it is very good for banks to have cryptocurrency accounts and also regular currency accounts, which is double. All countries do not enter cryptocurrencies in their bank accounts because it is a decentralized currency, but I have read that India has started depositing cryptocurrencies in its bank accounts.  All countries thanks

[Amna Hareem 1213]

On 12/5/2019 at 12:00 AM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

 I agree with you dear that banks are really very bad because they are not accepting cryptocurrencies and also getting high fees if we withdraw after payment through it and the bad thing is that they are trying to ban cryptocurrencies and it is really very bad so you're not using Bank at all for withdrawing our money I just using my wallet and app to withdraw our money.

[Samotokika 1780]

On 12/5/2019 at 12:00 AM, milanista said:

It is not a great secret that banks do not like cryptocurrency. Those of us who are involved in it and watch things closely know it is a threat to their very existence. For this reason, banks are doing whatever they can to cut people off from it.

Andreas Antonopolous just had the ability to accept credit card payments on his website cut off by his payment processor because he accepts crypto on there (in addition to being one of the leading speaking proponents of it). Thus, we see companies involved in cryptocurrency receiving the same treatment as those involved in cannabis and adult entertainment.

Banks across the globe are stopping people from buying cryptocurrency using their charge cards or bank accounts. This started in 2017 and keeps growing.

Now, we see a bank in Denmark taking it to another level. This is one of Europe's 20 largest banks and it decided to bank all 30,000 employees from buying cryptocurrency.

The bank claims that cryptocurrency is too risk for employees due to its unregulated and volatile nature.

Nordea Bank even had their policy upheld in court. This means that the employees of that banks are banned from owning cryptocurrency.

Of course, banks and politicians long maintained that Bitcoin and other cryptocurrency is used for illegal activities. While the true statistics reveal that only a small percentage of transactions are illegal in nature, this does not stop the rhetoric.

I guess it ultimately comes down to the fact that Nordea, along with the other banks, does not like the competition when it comes to illegal activities. In the United States, fines to the banks since the last financial collapse exceeded $250 billion.

Yet people believe that cryptocurrencies exist solely for illicit activities.

The reality is banks are going to do whatever they can to keep their system in place. They have fared very well doing basically what they wanted while the regulators were always a few steps behind. Cryptocurrency gives people an option which enables them to opt out of the current system. Since it is still in its infancy, the banks have a small window which they can try to hold on.

 

After that, the proverbial horse is out of the barn, never to return.

Once there are hundreds of millions of people involved, there is no turning back.

yes dude here are lot of countries in the whole world which are not considering the cryptocurrencies in their banks as they do not deal with them and consider them illegal which is totally wrong concept but now more people are showing their interest towards cryptocurrency so hope so that they should allow it.

Edited January 2, 2021 by Samotokika

[Tolani 174]

Well,  the banks has the right to try all means possible to try and stop people from using cryptocurrencies,  because really they the banks are at the peak of there service when cryptocurrencies were invented,  and to some certain extent, it diverts the attention of people from conventional banks. 

[teebasas 3018]

Yeah, none of the banks in our country like the crypto system mostly because it's a decentralized currency. Mostly the government banks demotivated crypto. But in news I read that RBI has given order to the banks to open account for the crypto users. I don't know the credibility of the news but if it is like that then it's a happy news.

[Dissy sb 945]

My friend I want to tell you that there are some typical banks in the world that are not accept the cryptocurrency in their countries due to trust issue on the the citizens but this is not good for the country