I hardly see banks in any competitions with bitcoin, banks have a role of circulation of fait money and I know that many banksay already be anonymously invested into some crypto project and even bitcoin and its not as tho bitcoin can replace fait as the government approved medium of exchange, IMO bitcoin is here for something different than to compete with banks.

Personally I think the over hype on crypto is what is actually giving it this much hatred and looking from some obvious points, you’ll get to realize that, bitcoin and cryptocurrency wouldn’t really thrive properly without without our local banks and this is because, we still need this local or better put traditional banks to complete a regular transaction atleast in a country like mine.
Bitcoin and cryptocurrency still has a very long way to go for it to stand independently in a country like mine because, most of the local transactions still require fiat to complete a transaction successfully and since cryptocurrency and bitcoin precisely isn’t in a physical form yet, it might be difficult to run a smooth trade in a country  were we still have a lot of petty traders who don’t even own a smart phone talk more of operating one and facing the whole rigorous processes of bitcoin transactions and safety.

There I no way banks can compete with cryptocurrency which is one of the reasons why making banks are trading cryptocurrency because they believe that it is one of the fastest way to make money when it comes to investments. Banks are really cashing out from crypto with customers fund and some many of them are ignorant of it. When customers put their funds in the bank for a certain period of time, banks are using that money to give loan and also trade which is very easy for them and when huge profits is made, the money goes to the bank or top people at the bank

Yes, banks are really against cryptocurrencies even in many countries cryptocurrency accounts are being banned in our country, and my own accounts are also banned for crypto-related payments. The main reason is the cryptocurrency-first service and zero-charge and there is a growing popularity. It is also possible that in the future people will stop using bank accounts altogether and start keeping all their assets in cryptocurrency wallets because they don't have to pay taxes to the government or anyone else to keep their assets here or even if they have to, they will at least have decentralization.

As cryptocurrencies become more popular, people tend to gravitate more towards cryptocurrency wallets and less towards banks, which can lead to a cash crunch in banks. This can also be a reason for banks to dislike cryptocurrencies.

Crypto Enthusiasts benefit most from the way cryptocurrencies are currently progressing, but the banking sector sees it as their main enemy or big opponent. Cryptocurrency is offering more benefits than the traditional banking system. Moreover, traditional banking systems always rely on third parties which is not required in crypto currency.

What are the advantages of using crypto currency than traditional banking system?

# Very low transaction fees
# Asset transfer without third party intervention
# Fast transaction
# Developing financial services for those outside the banking system.
# Secure transactions and convenience of transacting at any time of need.

From what have observed the banks can not a make a move on their own, they need to get approval from the government to either upgrade or even want to take shape. They can just do anything without the backing of the government. And a lot businesses are gradually withdrawing from using commercial banks, in my own region currently they prefer to fintech backs that reduce charges and also have a lightning network. There were times that you see that banks network will start having issues. People are getting tired and for places that they accept Bitcoin is just for you to pay without stress and worry about network if the money is going to hang or not. And people are getting use to decentralization so people want to be solo. But anything backs is centralized so their are disadvantages than advantages when you are using banks. Their is no any financial benefits that banks give. Very on rare occasions except you want to take loan. Even if we have to continue using them but it won't be long.

All of this "crypto versus banks" argument is a crock of garbage. Why not have both? Blockchain is amazing. It is not under government control, speedy, and safe. Still, banks are vital. They provide services crypto cannot, they are safe and under control. Consider it as if crypto is a sleek sports car ideal for a brief escape. Good for a family road trip, banks are more like a luxury SUV. You wouldnt race an SUV on a track and you wouldnt use a sports car to load logs.

Thus, crypto and banks should be collaborating rather than battling. Every one of them has advantages; together, we can design a financial system that is stronger, more effective, and more reachable to everyone. Folks, thats a win-win situation.

In a way that’s true. Cryptocurrency is an option so as to not use centralized or traditional banking system anymore. Which in itself is not supposed to be negative. We are simply being given an option that we were not presented before. But obviously with the existence of crypto, customers are being driven away from banks which hurt their profits.
I can see ways how the traditional banking system can benefit from cryptocurrencies but the government do not want to promote cryptocurrencies and some crypto enthusiasts do not want crypto to be in centralized banks.

It would be best to keep the two separate in my opinion.

Well, banks are often pretty wary or downright opposed to cryptocurrencies for a bunch of reasons. First off, there's the whole regulatory headache. Cryptos can make it tough to follow anti-money laundering and  KYC rules. Then there's the wild volatility—crypto prices can swing like crazy, which freaks out banks that prefer stability. Plus, the rapid growth of crypto could mess with the whole financial system.