Hey Everyone, welcomes to My blog Crypto Times and Hopes you Guys are doing Absolutely good. So This Article on the Digital payment system that is more secure than Bitcoin transaction or not
Digital payment System (UPI)
In India, all Money transactions are done through the Unified Payment Interference (UPI). In UPI, a virtual address of a Bank account is created and Registered with a Mobile number. With the Help of Mobile Transaction Application like Google pay, Whatsapp, Phonepe, MI pay etc, consumers can do transactions in a fast and easy way. and It is secure with the Biometric verification and password.
Cryptocurrency
Cryptocurrency like Bitcoin, Ethereum, Dogecoin etc is Decenterillised currency in the Blockchain network which is more secure and private than any other currency. Public and Private key make those cryptocurrencies more secure than any other currency.
Is UPI is big Hinderence for Cryptocurrency in the Market
Yes UPI is a big competitor for the cryptocurrency for entering the Indian market because of those reasons.
1. Ease of Use: UPI interference is easy to use that common person can also understand and did his transactions, But Bitcoin is very complex to understand for the common people.
2. Fluctuations: Fluctuation in Bitcoin and any other crypto is so high, but UPI is managed by the central government.
3. Convenience Fees: Fees in the crypto transaction is so high than the UPI. In UPI, up to $1500 transaction is the Fast and Free
4. Scalability: The Number of Transaction in Bitcoin is very less but UPI has 15000 transactions per second.
5. Reach: Merchants has started the UPI, but still crypto not accepted by most the merchants
6. Security: The security of both platforms is so good.
So Entrance of Crypto in India have a Big Competitor is the UPI.
If you Like This Article Than Don't Forget to Like it and Follow.
Also, View Those Interesting Article:
Earn Crypto From Survey and Task - Block Reward
Top 5 Social Media Platform to Earn Crypto
