Personal Finance Myth #57

RBI's Digital Rupee is a Cryptocurrency like Bitcoin | Vrid
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Digital Rupee is a Cryptocurrency

There’s a misconception that the Digital Rupee is a cryptocurrency like Bitcoin. 

Cryptocurrencies are decentralized digital assets using blockchain technology. Digital Rupee, however, is a central bank digital currency (CBDC) issued by RBI. 

Unlike cryptocurrencies, CBDCs are centralized and regulated by a country’s central bank. They represent a digital version of a national currency, aiming to complement physical currency. While both are digital, their nature, purpose, and underlying technology are different.

Learn more about what is the Digital Rupee and how does it works here.

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