Topic: Monthly Automatic Payment using Bitcoin? - page 2. (Read 320 times)
I think if the implementation of monthly EMI ,like recurring payment automatically from crypto currency wallet. I really very impressive this one.l have full hope it will be doing & implement to improve & become the source of improvement of revenue by the countries.
Getting Cryptocurrency Q&A: Can You Use Cryptocurrencies for Recurring Payments
A bitcoin transaction is no different than a transaction with physical cash. In both cases, you are transferring control over money every time you hand over banknotes or utxos. Can you pay for a monthly subscription with cash? Probably, but you can't automate your payments without losing control over your money, in such cases you have to trust and rely on a third party. The trouble is you don't have money if you are not controlling it. The same goes for bitcoin.
A bitcoin transaction is no different than a transaction with physical cash. In both cases, you are transferring control over money every time you hand over banknotes or utxos. Can you pay for a monthly subscription with cash? Probably, but you can't automate your payments without losing control over your money, in such cases you have to trust and rely on a third party. The trouble is you don't have money if you are not controlling it. The same goes for bitcoin.
I'm pretty sure Ethereum has the capability of this(because smart contracts). With bitcoin though? I'm pretty sure it isn't possible by default on the main chain, though available through an app made specifically for this(as odolvlobo said), and probably through second layer platforms.
Of course. Any cryptocurrency can have automatic payment as long as you have the right program to execute this and you have the keys.
The Bitcoin protocol itself does not have that capability, however there is no reason why that functionality couldn't be implemented in a wallet.
Hi everyone, I am new to bitcoin. I am wondering if Bitcoin or any other cryptocurrency supports monthly automatic payment deduction from your wallet to the designated party?
Thank you.
Thank you.
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