I don't understand , I live in india and here we can use UPI like google pay and phonepay to easily pay money within seconds and a touch and no extra cost or transaction fees is taken . But when i try to ay with bitcoin like 1000 ruppes i have to pay around 120 ruppes in fees to get the transaction done in 10minutes . So for a order of 1000 i have to pay 1120 ruppes and also wait for 10minutes for the transaction to be done .
So why is bitcoin or any other cryptocurrency more reliable or disruptive if it cant even help me in paying a simple small amount . Can somebody lease elaborate what i am missing here . Thanks in advance
The whole problem is that Bitcoin transactions are irreversible,while fiat money transactions can be reversed.
This creates a risk of scams,when dealing with crypto/fiat transactions.
The increased risk of scams leads to increased fees and other obstacles,like KYC(ID verification) and different kinds of limitations.Basically this is what stops mass Bitcoin adoption worldwide.
By the way,I wish I had Google pay in my country.