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Bitcoin Merchants In Mumbai

Bitcoin Accepted Here: The Tiny Family Restaurant In India Thats Embraced Virtual Currency

Bitcoin Accepted Here: The Tiny Family Restaurant In India Thats Embraced Virtual Currency

For most Indians new to the concept of cryptocurrencies, the idea of making a transaction in real life using bitcoin seems vaguely illicit. It certainly doesnt seem like the kind of thing youd do on a Saturday afternoon, for instance, after devouring a Maharashtrian thali or snacking on a vada pav. And yet, at the Suryawanshi restaurants in Bengalurus Indiranagar and Whitefield neighbourhoods, thats exactly what you can do, because owner Kailash Suryawanshi accepts bitcoin as a mode of payment, alongside the usual cash, cards, and Paytm. Suryawanshi, originally from the town of Kolhapur in Maharashtra, moved to the southern city way back in 2004 and worked in the used cars business. Nearly a decade later, after noticing the glaring lack of quality Maharashtrian food available, he launched his first eponymous restaurant in Whitefield, and followed that up with another in Indiranagar in 2015, gradually making a name for himself by serving authentic Kolhapuri thalis, loaded with seafood and meats. While the two outlets may not be the first offline establishments to transact in bitcoin in India (that honour reportedly belongs to a pizzeria in Mumbai , owned by a bitcoin enthusiast, which began accepting the cryptocurrency in 2013), they are certainly a rare breed. Though you can buy books or even movie tickets online using local bitcoin exchange apps, such as Zebpay, Coinsecure, and Unocoin, the digital currency remains largely unknown outside of a small, tech-savvy community in the country, and that applies to Indias Silicon Valley, too. Tejas Suryawanshi, Kailashs son, says his family was introduced to bitcoin in September last year and watched the value of its initial investment grow quickly in just a few months. In November, they decided to start accepting the digital Continue reading >>

Bitcoins Accepted By Over 500 Merchants In India, Says Gbminers Co-founder Amit Bhardwaj

Bitcoins Accepted By Over 500 Merchants In India, Says Gbminers Co-founder Amit Bhardwaj

Demonetisation of the old Rs 500 and Rs 1000 notes has had mixed reactions from the nation. While the push towards digital transactions has increased, one still sees queues outside ATMs and banks. The reason being that a lot of services still rely on cash and India is still, for all practical purposes, a cash-first country. Wide-scale digitisation is one of the backbones on which digital economy can thrive. But thanks to our infrastructural limitations , there will be challenges in achieving that less-cash dream that we keep hearing about. Now while the fight between digital currency and physical currency carries on, there is another kind of currency that is slowly but surely gaining prominence in the Indian construct. Cryptocurrency. Or its more popular variant - bitcoins. According to a report in Quartz, bitcoin trading has seen an increase over the last month or so, to an extent that it has reached its highest value since February 2014. Indias leading bitcoin company Unocoin says that average number of visitors to its site has crossed 14,000 from its daily average of 4,000 users before demonetisation. Zebpay, a local bitcoin company, has seen trades worth 75 cr in November 2016 alone, compared to a trade of Rs 100 cr in all of 2015. While it would be too early to say that demonetisation has been the reason for this, it has certainly played some part in these increased numbers in the crypto currency trade. Bitcoin mining is a specialised field. Considering bitcoin does not have a central bank like issuing entity, it is the users also known as miners who use software to solve math problems to be rewarded with bitcoins in exchange. Now hardware requirements for bitcoin mining have undergone a sea-change because the complexity of the problem increases depending on how f Continue reading >>

Huge Bitcoin Opportunities In India

Huge Bitcoin Opportunities In India

Economic growth in India creates opportunity for Bitcoin Will India see its way clear to using Bitcoin?. Getty Images India is often mentioned in the same breath as China, as the country that most companies would like to have a presence in. At the start of this decade, Time Magazine recognized China as the Michael Jordan of emerging markets, but also viewed India as a be like Mike who would soon make a major impact on the global markets. At the time, Lawrence Summers, who was at the time, President Obamas economic advisor, said, perhaps..in 2040, the discussion will be less about the Washington Consensus or the Beijing Consensus, than about the Mumbai Consensus. Summers envisioned a Mumbai Consensus with a people-centered emphasis on growing levels of consumptions and a widening middle class. India has been a hotbed for outsourcing, particularly for call center and technology projects. Investors have gravitated to investment products related to the BRIC countries of Brazil, Russia, India and China as an effective way to profit from the emerging growth in these countries. These concepts were focused on the idea that China and India will, by 2050, become the worlds dominant suppliers of manufactured goods and supplies. In theory, the two countries are direct at opposites to each other. China is the largest communist country and India, with well over 1.1 billion residents, is the largest democracy in the world. In fact, although China is currently the most populous country in the world, Indias higher fertility rate indicates that it will surpass China in that category before 2030. This staggering growth and opportunity in India has caughtthe attention of many businesses and investors. One of these investors is the private equity firm, Blackstone , which has invested $6 bi Continue reading >>

Bitcoin India's Mobile Digital Money Wallet

Bitcoin India's Mobile Digital Money Wallet

Bitcoin India is the worlds most secure Digital Mobile Wallet provider in the Industry. Your mobile is your Digital Money Wallet now, easy to carry your money. Bitcoin Indias Digital Mobile Wallet - A single mobile wallet where you can keep all your Money (INR - Indian Rupees) together with other virtual secure payment tokens like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). It's Free to deposit funds to your Bitcoin India digital mobile wallet from your bank account. Bitcoin India Wallet is an all-in-one Mobile e-Wallet that lets you securely complete payments via digital tokens, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Dashcoin (DASH). We accept INR, on both the web and mobile applications. Now, merchants can accept Bitcoin through our app and receive INR deposits daily. A SEAMLESS WAY TO BUY/SELL BITCOINS; We've developed a new feature that allows you to buy bitcoins by transferring funds online from your internet banking. Now, you can secure, transact and buy bitcoins directly from our wallet or from the exchange/trading platform. It's a new standard of bitcoin security and fully insure your assets in the Vault in cold wallets, so that you can assured your money is highly safe and sound. Continue reading >>

15 Cryptocurrency Exchanges In India Offering Bitcoin & Ethereum

15 Cryptocurrency Exchanges In India Offering Bitcoin & Ethereum

Google Pinterest Reddit Pocket Hackernews With its price surging exponentially, Bitcoins comparison with Gold is outdated. Bitcoin is limited , so is Margarita, the Benjamin with a composition of a special Cuvee of Grand Marnier, finished with Louis XIII Cognac. As demand is catching up, the nine-year-old Bitcoin is already priced on par with 42-year-aged Glenfiddich single malt scotch, and will perhaps surpass a bottle of 50-year-aged scotch too, which is trading at $32K at the whiskey exchanges across the world. However, in India, like whiskey exchanges that are few and far between (trading aged single malt scotch), there are limited cryptocurrency exchanges that are reliable, regulated and that enable trading in Bitcoins and other cryptocurrencies. In India, as the Bitcoin fever is catching up with over 2,500 users trading Bitcoin daily and thetrading volume rising close to $20 Bn a year, cryptocurrency exchanges are mushrooming with each passing day. In the world of cryptocurrencies, hard-fork is a common phenomenon. However, for a hard-forked coins valuation, it is important to have the backing of some independent exchanges that could benchmark their values. Amid 1315 cryptocurrencies along with crypto tokens available for the trading at various cryptocurrency exchanges, it is crucial to check whether the exchanges trading these cryptocurrencies are regulated or not. In India, while mcap tokens and Onecoins received a bit of controversy, globally, more than 50 cryptocurrency exchanges have been shut down owing to the hacking, chaos and government policies. In India, while the government policy regarding cryptocurrencies is the new Birbil Ki Khhichdi,still in the cooking mode, amajority of the Indian cryptocurrency exchanges have already adopted the KYC way to mini Continue reading >>

Indians Use Creative Means To Trade Bitcoin Amid Rbi Ban

Indians Use Creative Means To Trade Bitcoin Amid Rbi Ban

Indians Use Creative Means to Trade Bitcoin Amid RBI Ban Indian crypto traders have found some creative ways to trade cryptocurrencies, especially bitcoin, to circumvent the crypto banking ban imposed by the countrys central bank. The Reserve Bank of India has banned financial institutions from providing services to companies dealing in cryptocurrency. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Following the crypto banking ban by the Reserve Bank of India (RBI) which went into effect last month, Indian traders are finding multiple ways to bypass the ban. One of the methods they are using is referred to as Dabba trading, Business Today recently reported: Ever since the banks were stopped from providing financial services to digital exchanges, the trade of bitcoin through Dabba trading has increased manifold. In Dabba trading, brokers do not execute trades on a system connected with commodity or stock exchange, the news outlet described. Instead, they transfer money through hawala network and trade using an overseas bank trading account, most of which are based in Europe, especially the UK and Dubai. While mostly used for trading in stocks, the publication explained that this method has seen an upsurge as traditional Dabba operators are accepting bets on bitcoin too, giving a boost to their overall earning, adding: Such traders are based out of Ahmedabad, Surat, Rajkot, Kolkata and Mumbai. They work as a bridge between a customer and foreign trading company. The broker accepts money in cash, buys bitcoins using an overseas trading account and sells them when the bet placed in India is settled. The difference is paid in cash to the customer. Most Dabba deals are done via messaging app Telegram, cloud-based instant messaging service with end-to-end enc Continue reading >>

Experts Gather In Mumbai To Discuss The Future Of Bitcoin And Blockchain In India

Experts Gather In Mumbai To Discuss The Future Of Bitcoin And Blockchain In India

Over a hundred people gathered at the St. Regis in Mumbai December 15 to discuss the state of Bitcoin and the potential of blockchain technology in India. Neha Punater, partner and head of fintech at KPMG in India, and a speaker at the BlockZero conference , highlighted the possibilities and opportunities offered by blockchain technology. "Blockchain has the potential to crash cycle time and reduce costs across diverse areas such as settlement, trade financial, clearing, etc. It will enable an efficient and secure way of recording and maintaining identities, collaterals financial and non-financial." KPMG's stand on blockchain is clear: the technology is "a game changer that, if used to its full potential, can offer an innocuous, quick and economical way for transactions." Despite India's relatively nascent blockchain industry, the impact of the technology "is significant enough to guarantee assessment, experimentation and implementation by enterprises," the firm stated in a report released earlier this year. "Blockchain is precious money and more real than we think," said Rachna Nath, head of digital consulting at KPMG India. Aimed at exploring the use of blockchain for the Indian market, the BlockZero conference brought together entrepreneurs, investors and senior executives from the financial services and tech industries. Speakers included representatives from the National Payment Corporation of India, KPMG India, Chinese Bitcoin company BitKan, Indian blockchain startup Primechain Technologies, and the Global Blockchain Network, a trade association for the blockchain industry. BitKan, a sponsor of the event, presented the state of Bitcoin in China, highlighting the country's leading position in Bitcoin mining and trading. "Bitcoin has become an attractive short-term Continue reading >>

Abit Of Change: Indians Using Bitcoin To Trade, Shop, Even Pay For Pizza

Abit Of Change: Indians Using Bitcoin To Trade, Shop, Even Pay For Pizza

Bitcoin is a currency that exists only as lines of code. Vishal Guptas ears ring with the sound of coins he cant touch. The 34-year-entrepreneur was gifted a single bitcoin, then worth a mere Rs 3,100, back in 2011 and it got him hooked on to the idea of virtual money. Today, one bitcoin is worth close to Rs 40,000 and Gupta is waiting for India to realise that the currency is valuable not just in itself, but also for what its starting to represent. Its been around only since 2009. It circulates only as strings of code through a network of servers across the world. But Gupta believes bitcoin is the ideal monetary system for our connected, wired, post-recession world. Cash is unwieldy and unsafe. Cheques and credit cards need banks, he points out. But banks are incentivised to take risks, so they keep making a mess and get bailed out at the literal cost of the people. Bitcoin is different. It is operated by the very people who use it, so it offers the accountability and trust that our banks cannot, he says. It also has no geographical boundaries. Unlike a dollar, a dirham or a rupee, a bitcoin has the same value the world over. The idea excited Gupta so much, he gave up his in-cab advertising business two years ago and set up SearchTrade, a company that collaborates with searches engines. He pays his contributers in bitcoin. Vishal Gupta runs a business collaborating with search engines, and pays contributors in bitcoin. (Vidya Subramanian / HT Photo) Over the last few years, bitcoins reputation has cleaned up like a shiny new penny. Headlines have gone from alarmist (the 2013 bust of drug-trade site Silk Road, which accepted the currency) to awestruck (hackers stealing $65 million worth of bitcoins in a single heist in August). Governments, lawmakers, bankers and inves Continue reading >>

Map: Us Bitcoin Atms & Stores That Accept Btc | Finder.com

Map: Us Bitcoin Atms & Stores That Accept Btc | Finder.com

MAP: Find bitcoin ATMs and stores that accept BTC payment in the US We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here. Disclaimer: Coinmap crowdsource map points used under the ODbL. Data on this page last updated 4 January 2018. Want your business listed or see an error? Contribute to the map at Coinmap.org. Where can you spend bitcoin in the United States? Discover how to use bitcoin in the real world with these crypto-friendly stores, retailers, locations and companies. While bitcoin and other cryptocurrencies tend to be speculative investments that people hold, buy and sell to build a diversified portfolio, its also becoming increasingly possible to spend bitcoin on everyday things. Convert your coins to cash via ATMs. See our map above and the searchable list at the end of this article. As a reference, Coinsource is one cryptocurrency ATM operator in the US. Coinsource charges a fee of 4% per withdrawal and 8% per purchase. It boasts some of the lowest transaction fees in the industry as well as industry-leading Customer Support. Bitcoin debit cards make it easier to spend your bitcoin like any other currency. They usually run on existing card networks like Visa or Mastercard. Some major online retailers like Microsoft support bitcoin. Just look for an accepted here logo alongside usual suspects like PayPal, Visa and Mastercard. Microsoft uses payment service provider BitPay, which is also supported by e-commerce platforms like Shopify that power smaller retailers, along with other bitcoin payment gateways such as Coinbase and GoC Continue reading >>

How To Buy Bitcoin - Coinbase

How To Buy Bitcoin - Coinbase

Coinbase makes it easy to convert your local currency into and out of bitcoin. On this page, you'll learn how to buy bitcoin and store it securely in a wallet. This first step is to sign up for a Coinbase account. This will give you a secure place to store your bitcoin, and easy payment methods to convert your local currency into or out of bitcoin. After you sign up, connect your bank account. You'll need to complete some verification steps before you can use the account. Once the verification steps are complete, you can start a purchase. After starting your first purchase, we'll complete your buy and deliver your bitcoin. (Sells work the same way but in reverse). The price of bitcoin changes over time, so we'll show you the current exchange rate before you buy. Continue reading >>

Epaisa Enables Bitcoin Acceptance For Its Merchants [economictimes]

Epaisa Enables Bitcoin Acceptance For Its Merchants [economictimes]

ePaisa enables bitcoin acceptance for its merchants [EconomicTimes] Startup ePaisa which offers multi-lingual mobile-based applications for cash and card payments has launched a first-of-its-kind initiative enabling its merchant outlets to accept bitcoins as a mode of payment. The service will be available in around 500 outlets of epaisa in New Delhi, Mumbai, Pune, Surat and Ahmadabad. Around 35 thousand bitcoins have been traded in India last year, and there are around 50 thousand bitcoin users, says Siddharth Arora , cofounder and CEO of ePaisa, who added that ePaisa merchants have the option of converting their bitcoins into Indian rupees and transferring it into their account. So far, there has been no facility enabling smaller merchants to accept bitcoins in India. Only big retailers, especially from the US are accepting bitcoins, said Arora, who expects that ePaisa merchants in Mumbai and Delhi to use the facility more than others, as these metros have a fair number of international customers as well as travelling Indian customers. The company has employed an aggregation mode to enable bitcoin acceptance and has tied up with back-end bitcoin exchanges for this purpose. We will soon introduce mobile wallet acceptance facility by tying up with other payment gateways. With bitcoin acceptance also being enabled, we aim to help our merchant outlets accept all modes of cashless payments through the app, said Arora, adding that ePaisa is targeting reaching out to 25,000 merchants by 2020. Sathvik Vishwanath, CEO of startup Unocoin , a bitcoin exchange and merchant processor says that mass acceptance of bitcoins by merchants is still a couple of years away. Vishwanath is also part of the Bitcoin Alliance India , which spreads awareness on crypto currencies. We are seeing Continue reading >>

How To Buy Bitcoin In India | Popular Bitcoin Exchanges In India

How To Buy Bitcoin In India | Popular Bitcoin Exchanges In India

There has been a huge increase in the value of bitcoin recently which had made many investors think how they too can invest in it. In the beginning of 2017, the price of one bitcoin was under $1,000. As of September 15, 2017, the price of bitcoin has reached $3056.08. TIMESOFINDIA.COM | Sep 18, 2017, 12:01 IST Bitcoin is a cryptocurrency, or a digital currency, that uses rules of cryptography for regulation and generat... Read More There has been a huge increase in the value of bitcoin recently which had made many investors think how they too can invest in it. In the beginning of 2017, the price of one bitcoin was under $1,000. As of September 15, 2017, the price of bitcoin has reached $3056.08. This has made investors curious on where and how to invest in bitcoin in India . There are various digital currency exchanges that allow buy and sell of bitcoins on internet. Here is information on few of them: Zebpay is India's first bitcoin company to launch simplest mobile Bitcoin wallet app that enables bitcoin transactions using mobile number. The company is headquartered in Singapore with IT office in Mumbai, Maharashtra and Ahmedabad, Gujarat, India. The company was founded by Mahin Gupta in late 2012 under the name Buysellbitco.in. Later it was rebranded to Zebpay in September 2014 adding two more partners - Saurabh Agrawal and Sandeep Goenka. Using Zebpay wallet app, users can buy, sell, store, spend bitcoin & recharge airtime using mobile number and a 4-digit pin. In September 2017, Zebpay crossed 1,000,000 downloads on Android and iOS stores combined. Unocoin is another leading bitcoin company in India that enables users to buy, sell, store, use and accept bitcoin. Unocoin was founded in July of 2013 in the town of Tumakuru, Karnataka. Later the company shifted its m Continue reading >>

Bitcoin Exchanges Bite The Bullet

Bitcoin Exchanges Bite The Bullet

Mumbai: This week, the Supreme Court (SC) is likely to give its final verdict on the use of banking channels to buy and sell bitcoins on cryptocurrency exchanges. As of now, you cant use your bank account to buy or sell cryptocurrency from any exchanges in India. But even before the verdict is out, the affected parties have left the battlefield. Zebpay, one of the largest cryptocurrency exchanges in the country, shut its business on Friday. In an email, the company said, The curb on bank accounts has crippled our and our customers ability to transact business meaningfully. At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business. Ajeet Khurana, chief executive officer, Zebpay, said, I wrote the final email. We were tired of waiting for the verdict. Whatever comes out of the judgement, it is not a battle to legalise cryptocurrency. This is just the first one. There will be many more to follow. And fighting it out in court is very expensive. For the company, which had opened an office in Mumbais Bandra-Kurla Complex with 110 employees just last year, the slide has been in line with bitcoin prices as the companys revenue continued to decline. In 2017, the cryptocurrency prices peaked to an all-time high of close to $20,000 (14.50 lakh). Today it is around $6,513 (4.7 lakh), according to data from coinmarketcap.com, a platform that tracks cryptocurrency prices. In the last one year, multiple agencies have scrutinised the cryptocurrency companies. First, the Income-Tax (I-T) department surveyed bitcoin exchanges to determine taxation on bitcoin investments. Following this, the enforcement directorate conducted a probe to check for violation of the Foreign Exchange Management Act (FEMA). Meanwhile regulators, including the Reserve Continue reading >>

Bitcoin Billionaires

Bitcoin Billionaires

Stock market is pass. Mumbais youngsters are investing in an avant garde currency, even as the RBI keeps a close watch. Since graduating in mechanical engineering this June, Sanket Shah hasnt bothered hunting for a job. But that hasnt thrown a spanner in his lifestyle. The 21-year-old resident of Ghatkopar (E) spends his days watching movies, hanging out at coffee joints and partying with his friends. The bills arent footed by his printing press owner dad and banker mum. When you hit a certain age, its awkward to ask your parents for money. Since I graduated, I havent taken a single penny from them, he says, with pride. The secret to Sankets self-sustenance lies in Bitcoins - a digital currency launched in 2008 by someone who called himself Satoshi Nakamato. While Nakamato has disappeared since, the Bitcoin has gained in popularity - when it was launched it was worth a quarter of an American dollar and stands at $138 (Rs 8,625) now. Since the Bitcoin is not a regular currency - no stacks of gold or government income govern its value - its rate is governed by demand against limited supply. The algorithm that Nakamato (see box) created allows only a limited number of Bitcoins to be generated. It is estimated that no more than 21 million Bitcoins can be mined over a period of 140 years. According to the programme, the last Bitcoin will be produced in 2140. One of the easier ways of acquiring Bitcoins is much like making any investment. Buy it at todays rate, and sell it tomorrow at a higher one. Which is how Shah, who first learnt about them through the media, started making money. To start trading in Bitcoins, you need to open a wallet by logging on to vendor portals such as blockchain. info, coinbase.com and bitcoin. org. This is free of charge. Each wallet has a unique Continue reading >>

Bombay Bitcoin (mumbai, India) | Meetup

Bombay Bitcoin (mumbai, India) | Meetup

Bitcoin future OpportinitiesBINEX.TRADE is a cryptocurrency exchange that enables users to trade multiple cryptocurrencies against USDT, INRT, BTC and native token BEX. It is unique as it shares 70% commission earned on trading of these pairs with token owners on daily basis. Crystal Plaza, 4th floor, CST Road Vidya Nagari, Kalina, Santacruz East Mumbai Whether a complete newcomer looking to learn the very basics or a seasoned pro looking to keep up on the latest developments or find business partners, we host regular events that will appeal to you all. Some are more formal in structure, giving you a chance to learn or network, whilst others just provide an opportunity to gather socially, make friends, share ideas and generally have a good time. If it's your first time exploring this space, don't be daunted - we really are a welcoming bunch who will make you feel at ease and answer any question you can throw at us. To learn more about the bitcoin movement in India, visit Continue reading >>

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