In many cases, we keep the Auto Renewal system on at various places so that when the subscription period of this item expires, the time is instantly renewed. This is possible because the bank is a centralized platform and has an authority team to manage it. But if Bitcoin is accepted for payment like Debit/Credit Card everywhere around the world. In that case how Bitcoin can provide auto renewal system where we use non-custodial wallet to hold Bitcoin. Which has full access to us, no one can control it if they want. what to you think about it. How Bitcoin can provide Subscription Auto Renewal solution?
Bitcoin will never provide an auto payment solution. The control of Bitcoin is completely in your hands, so there is no possibility of auto payment through Bitcoin on any site. And this is why Bitcoin is so secure then another payment gateway. And since no one can control Bitcoin, if you keep Bitcoin in a non-custodial wallet, there is no chance of auto payment on anywhere. And in this case, Bitcoin will not be able to provide a solution to the auto renewal system
I was thinking the same thing because Bitcoin is a decentralized currency that no one can control and its creator is still unknown. Only Bitcoin can control the amount that Bitcoin buys. so auto renewal solution probably won't happen. However, a custodial wallet can be setup for this solution. I was some confusion about this and that's why I ask it here. The Auto Renewal system is very popular today and will continue to be popular in the future. That is why it may have some impact on Bitcoin payment gateways as well