• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Over 30,000 People In India Use Bitcoin For Transactions

newsbtc by newsbtc
5 years ago
in Bitcoin
Reading Time: 2min read
India Bitcoin Adoption
Advertisement

The status of Bitcoin in India has been relatively unsure for quite some time now. Even though the country can benefit a lot from cryptocurrency in their e-commerce and m-commerce sectors, adoption rates were still low. But things are changing in a positive manner as of late. With about 50,000 Bitcoin users in India, things are looking better than ever.

To put these numbers into perspective, of those 50,000 Bitcoin enthusiasts, close to 30,000 use cryptocurrency for transactions. These figures are provided to us thanks to Coinsecure, which is the leading Bitcoin wallet, exchange, and payment gateway in the country.

Bitcoin Usage in India Keeps Increasing

Although Bitcoin has been around since 2009, many people still see the cryptocurrency as something that needs to be avoided. Given the fact users are in full control of their funds, they also bear the responsibility if something were to go amiss. Moreover, very few countries acknowledge Bitcoin as a currency, which makes cryptocurrency a “grey area”, so to speak.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

But that is not keeping enthusiasts in India from embracing Bitcoin, though. While it is doubtful Bitcoin will replace the need for physical currencies anytime soon, it complements the existing financial ecosystem quite well. Retailers see the possibilities by accepting Bitcoin as an alternative payment, on top of more traditional offerings.

Despite the price volatility associated with Bitcoin and other cryptocurrencies, business has been quite good for Coinsecure. As the company offers Bitcoin at the cheapest rates in all of India, they also have a small spread over the market price. This is a solid business strategy, as consumers are less inclined to pay a premium price for something they may never use in real life.

Moreover, retailers in India who sign up through Coinsecure are safe from any Bitcoin price volatility that may occur. Other Bitcoin payment processors are following the same strategy, as they instantly convert cryptocurrency transactions to local currency. Additionally, there are lots of people involved in Bitcoin due to price speculation. Due to its limited coin supply, the chances for profit are very real, albeit people need to keep in mind cryptocurrency is a long-term investment.

Source: Money Control

Header image courtesy of Shutterstock

Tags: adoptionbitcoincommercecryptocurrencyindiaNewsretailer
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Affect? Billionaire Fund Manager Sells 1.8M Tesla Shares for Clients

5 hours ago
Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

7 hours ago
bitcoin gold ethereum mark cuban peter schiff

Mark Cuban Slams Peter Schiff: Gold is Dead, Bitcoin and Ethereum Are Today

17 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Price Outlook: Executive Sees BTC/USD At $60,000

1 day ago
Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

3 days ago
bitcoin miner btc bullish

Bullish Bitcoin Miners Cease Selling For The First Time Since 2020

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bittrex Global Exchange to List Ndau for Long-term Holders

March 4, 2021

Polkadex, DEX Built for Web3, Raises $3m From CMS Holdings, Outlier Ventures, OKEx Capital and More

March 4, 2021

Casino Betting Coin launches $FUN Uniswap pool

March 4, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.