India bitcoin start-ups Zebpay within one month of twenty thousand new users
India bitcoin exchange Zebpay provided by Android and iOS service recently exceeded 100 thousand downloads, highlighted the “India bitcoin investment, commercial and technological interest grow with each passing day”. Zebpay co-founder and chief operating officer SandeepGoenka Zebpay said, the goal is the number at the end of 2016, more than 450 thousand users, is currently preparing a new round of financing, a “more active in expanding in India”.
In 2015, computer engineer MahinGupta SaurabhAgrawal and SandeepGoenka Zebpay founded the merchant, is to provide bitcoin related products and services for start-ups. The application of Zebpay mobile phone users of bitcoin transactions between India and rupees, buy Amazon coupon with bitcoin recharge, pay the bills.
The Zebpay platform has the value of 3 billion 500 million India rupees ($52 million) of bitcoin trading platform users, and growth rate of twenty thousand per month. Zebpay is hoping to raise more funds for business expansion.
Bitcoin is a new round of revolution of the digital asset first step, our goal is to become the leading enterprise of India digital assets”.
Despite the use of bitcoin in India started late, but the awareness of it was fast. Bitcoin trading volume index in India in recent months, the growth of the annual trading volume is about 5 billion rupees ($75 million) in India. The Nikkei Asian review (NikkeiAsianReview) pointed out that the Chinese and $100 million a day or less than bitcoin transactions. Goenka said:
“India current bitcoin trading volume is equivalent to the United States in 2013 and Chinese”.
Bitcoin was used from the early to attract initially, and now began to attract other people, such as young experts and high net worth individuals (HNI)”.
“The current users of bitcoin as a substitute for investment, online shopping, pay the bill, bills, buy gift certificates. We believe that the next two years in India bitcoin use rate will be doubled”.
A special field will significantly influence the remittance by bitcoin. The World Bank (WorldBank) pointed out that India will be the world’s largest, a total of $69 billion from 2015. Goenka said, with bitcoin and related technologies can help both sides to save $7 billion remittance remittance.
“Most remittances are $200 or less small remittance. In particular, this small remittance needs to PayPal, Western Union or bank to pay 15% of the fee and fee rate. Let bitcoin small remittance become very convenient”.
Bitcoin and mobile technology to provide basic financial services for the rural population and backward areas of banking services, increase financial inclusion. In addition to Zebpay, Coinsecure also in the remittance market and India have been successful in this special population.
“India 40% of the population have no bank account. Bitcoin can be used in remote areas, from the real bank. India is the formation of active monetary economy pioneer encryption”.
Although bitcoin may give India market development to bring growth of hope, but for those ordinary people in non computer fancier for digital currency is a challenge.
“Indians looking for safe and simple bitcoin acquisition and storage, however, the way they are required to understand bitcoin address, network identification, network fees, wallet backup and other complex concepts”.