Bank vs Bitcoin in India – Katoch Tubes

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BANK vs  BITCOIN

Comparative Analysis

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1

System Type:

Bank is a centralized system while Bitcoin is a decentralized system.

Bitcoin doesn't need third party to perform the transaction.

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2

Legal Tender:

Bank generates legal tender i.e currency like Rupee,USD etc. with global acceptance

Bitcoin is yet to receive global acceptance and it's not a legal tender

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3

Security:

Banks are always susceptible to hacking that includes physical theft in the bank offices. 

Bitcoin is based on blockchain network which makes it impossible to hack.

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4

Internet Dependency:

Banks are semi dependent on the internet.

Bitcoin or any other cryptocurrency is 100% internet dependent.

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5

Govt. Manipulation:

Banks can be manipulated by the authority  like demonetization in India.

Bitcoin cannot be manipulated by any governing authority once it reach a high adoption rate.