BTC VS UPI ?

[libert19]

I hate how Google pay asks to turn on location just to pay a bill or make a transfer.

Maybe for your security because we all know it is much easier to hack bank accounts in India so people who are sending money by using VPN to hide their identity may get blocked due to often change in the location.

I doubt it. I think they just want to collect location info to 'improve' their products.

[1714887496]

1714887496

[akram143]

I hate how Google pay asks to turn on location just to pay a bill or make a transfer.

Maybe for your security because we all know it is much easier to hack bank accounts in India so people who are sending money by using VPN to hide their identity may get blocked due to often change in the location.

I doubt it. I think they just want to collect location info to 'improve' their products.

Basically they need location access to have better user experience on most of the google applications but here they made it as mandatory for some reasons.

[chunnu39]

why UPI it is only for a centralized banking system where your security and your money is not much safe because you don't have proper control there is third party bank who can control your fund and add daily withdrawal limits in your daily money withdrawal.

on the other side in Bitcoin, you can store your bitcoin my cold wallet or hardware wallet where you have access to the private keys. only you have the authority to sent receive your funds. No third party can control your funds. There is no or some restrictions to withdrawal limit depending on the exchange which you use for withdrawal.

[lifeinmountain]

there is no comparison between UPI and BTC but both have there own pros and cons.
UPI is the medium that is used for small payment which required a centralized banking system. where you can only make payment in your country and there is a certain limit you can send some limited payment over 24hours.
UPI is useful for paying utility bills and other micropayments and UPI is free till now there is no cost on the transaction.
in India mostly reputed brand apps like amazon, jio pay , paytm, googlepay and mobiwiki will allow UPI In there platform and give decent cashback and discount when you use UPI to make payment.
BTC is a decentralized network there is no mediator like a bank to verify and sign the transaction blockchain will do all and it is very cheap to transfer funds from one country to another. and the cost of the transaction is much lower as compared to bank transfer. and BTC transaction is much secure than a bank because you have full control of your funds.
but there is one cons you can not retrieve your funds if you accidently sent it in to wrong address.

[akram143]

but there is one cons you can not retrieve your funds if you accidently sent it in to wrong address.

Hardly any funds got recovered if they send it to wrong UPI or someone used sim swapping and stole the funds in the bank account.

[worldofcoins]

but there is one cons you can not retrieve your funds if you accidently sent it in to wrong address.

Hardly any funds got recovered if they send it to wrong UPI or someone used sim swapping and stole the funds in the bank account.

At least law can help if the amount is huge in UPI and there's a possibility of recovery but not in the case of BTC.
BTC transaction is going to be anonymous if somehow hacker gets access to your funds which is less likely to happen if your wallet is well protected.

[~Money~]

UPI and Btc transactions are not the same. Though a common man sees both as a digital transition but the idea behind both transaction are completely different. UPI transaction is the transfer of Fiat money from one account to other, in which banks and govt are mediators. Govt has a record of all your transaction and you have to pay taxes and other charges as defined by the central authorities.
Whereas Bitcoin is a decentralized currency with no authority can control your funds. The idea of BTC was never as investment asset but a decentralized currency against a fiat currency system. I will prefer BTC transaction over fiat to transfer my funds, but today in India only a few people understand BTC and accept it as payment.