International Journal of Scientific Research and Engineering Development

With the evolving time and technology, the payment and the transactions system has been evolved a lot, due to which the transactions system are now evolved to online means like digital wallets, mobile banking, debit cards, credit cards and many more but all these systems are governed by the regulatory bodies. Or it can be said that these methods have centralized authority over them, which make them trustworthy amongst the people. But in these government regulated method , there is one method which is decentralized and doesn’t have any central authority over it, which is “CRYPTOCURRENCY” it is solely based on the blockchain technology. This study is conducted to compare the cryptocurrency and traditional payment system on the basis of consumer trust , security, speed and at what level it is adopted. For conduction of this research the data is collected from both primary and secondary sources. Primary data was collected through survey whereas the secondary data is collected from the credible sites. The finding suggest that the traditional payment system is more preferred amongst the people as compared to the cryptocurrency due to its regulatory back up, cost and the complexity in the usage. But at some extent it Is found that cryptocurrency is better for cross border trade . the study concludes that they can both co exist.

Ms.Vibhuti Tyagi, Dr.Vinay Pal Singh,"A Comparative Analysis of Cryptocurrency and Traditional Payment System With Reference To Security, Cost , Accessibility , Awareness and Preference" International Journal of Scientific Research and Engineering Development, V9(3): Page(1628-1639) May-June 2026. ISSN: 2581-7175. www.ijsred.com. Published by Scientific and Academic Research Publishing.