How is paytm different from bitcoin?

Here are some of the major differences that arise with respect to PayTM and Bitcoin:

  • Both PayTM and Bitcoin are used to transfer funds in the form of rupees and Bitcoin respectively.
  • PayTM is a centralized exchange for money and bitcoin is decentralized.
  • PayTM is a single company where as Bitcoin is composed of individuals, companies, merchants and a lot more people.
  • If ever there is an issue with a transfer of funds, Bitcoin protocol settles it through consensus whereas PayTM would have to be contacted to look into their internal payment processing procedure.
  • Anonymity: Bitcoin is anonymous where as PayTM is required to document all transactions to pay taxes.
  • Ledger of transactions are maintained by PayTM within the PayTM ecosystem and bitcoin transactions are public on the bitcoin blockchain.
  • Paytm makes use of various primitive tech stack whereas bitcoin make use of blockchain technology.
  • Paytm is a subsidiary company on One97 communications whereas Bitcoin is public and isn’t owned by a single company or entity but by the public at large.

At the end of the day, there are numerous differences that differentiate between PayTM/Paypal and bitcoin mainly because both are so very different in relatively all aspects except for the fact that both are designed to transfer value.




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