What is digital currency?
Digital currency is also known as cryptocurrencies e.g., Bitcoin, digital rupees are currencies that use blockchain technology to record and secure every transaction without any leak of user data.
Digital currency is two types of bitcoin and which is the government launched digital rupee.
Bitcoin coin vs digital rupee coin
If you have to know the budget for 2022, then you must have heard a word called Digital rupee coin. If you know about bitcoin then you must also know about digital rupee coins and you should also know about digital rupee coin vs bitcoin.
In today’s post, we will know what is bitcoin? how does bitcoin work? what is the difference between bitcoin and the digital rupee coin?
What is Bitcoin?
Bitcoin is a type of fully digital currency that works on technology is known as blockchain technology. Bitcoin is a decentralized currency, which is not managed by the government or institution of any country.
What is a digital rupee coin?
The digital rupee coin is a kind of digital coin which can be launched by the central bank in India in 2023. This digital rupee coin is also known as CBDC. let us tell you the the full form of CBDC, CBDC is Central Bank Digital Currency.
The similarity between the digital rupee coin and the bitcoin
If we talk about digital currency the similarity between the digital rupee coin and bitcoin, then the technology of these two can be very similar. In simple words, digital rupee coins can work on blockchain. But it has not been confirmed yet. Apart from this, there is another similarity between these two that both of them are used for online transactions and both of them are digital currencies.
Digital rupee coin VS bitcoin
Let us now tell you Digital rupee coin VS bitcoin.
Which is legal?
First of all, let us tell you that which of the two is legal in India, which cannot be any problem in using it. So in such a situation, the Digital Rupee coin is completely legal in India. no problem using it.
Control
Let us tell you that Bitcoin is a decentralized currency, which means that it is not managed by any organization, the same CBDC is operated by the Government of India. In simple words, the entire supervision of CBDC is going to be in the hands of the Government of India.
Digital currency Decentralized vs centralized currency
Let us tell you that bitcoin is a fully digital decentralized currency, the same digital rupee coin is a fully centralized digital currency. The digital rupee coin is managed by the government of India.
ways of using
If we talk about digital currency in the way of using it, then the way the rupee is used in everyday life, in the same way, this digital rupee is also going to be used in this digital world. It is also being called the digital form of the Rupee.
As investment perspective
If seen from an investment perspective, people will use this digital rupee coin but not many people will use it. According to experts, people will choose bitcoin for long-term investment. But those who do not want to take much risk will prefer to invest in digital rupee coins.
Conclusion
Friends, we hope that with the help of this post, you must have understood about bitcoin and the digital rupee coin, along with that you must have also come to know the difference between the two. We have told you step by step about the digital currency which is the digital rupee coin and bitcoin. If you have any questions related to bitcoin and CBDC, then you can tell us by commenting.
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