Crypto Current Affairs—50+ Merchants Start Accepting Bitcoins In Bangalore, India!
Bangalore is the startup hub of India and the country has witnessed a noticeable Bitcoin boom over the past year. The world's favorite internet currency continues gaining popularity amongst the urban users of one of the fastest growing economy in the world today.
The city of Bangalore has a population of over 8 million people and Unocoin, one of the biggest exchanges in India provides merchant services and has enabled over 50 merchants to sign up and accept Bitcoin as a mode of payment.
The company has a registered user base of over 300,000 users and processes over 310,000 USD every month. The Bangalore-based Bitcoin exchange has gained popularity for providing a fast service coupled with merchant services hopes to add thousands of merchants in the months to come.
According to Unocoin CEO and co-founder Sathvik Vishwanath:
We have added over 50 merchants in this month across Bangalore who accept Bitcoin today as a mode of payment.
A quick peek at https://www.unocoin.com/use will show you several big retailers who are accepting Bitcoin today. Some of the merchants include India’s largest book mall Sapna online as well as a travel portal Etravel Smart. Mobile DTH data card provider Reload and web-hosting services Indsoft and Cyberls are also accepting Bitcoin today amongst many others. Check the aforementioned link for a bigger list of merchants.
Unocoin has been regularly conducting Bitcoin meetups in Bangalore since 2012 and has over 3,227 members who meet regularly to discuss Bitcoin, Ethereum and the blockchain technology.
While this news seems to be focused on a small part of India, in the next year or two we are bound to witness a rapid growth and adoption of the cryptocurrency in the country.
Indian government is considering drafting a bill around cryptocurrency and legalization of Bitcoin and cryptocurrencies is likely to create a massive demand from India as more people ditch local currency for Bitcoin. For the Indian exchanges who started early on the scene, there seems to be a massive upside despite Bitcoin blooming very late in the country.
Let's hope that the Indian government legalizes Bitcoin soon so that it brings more users onto the network!
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Bangalore, this City has one-third of the population of Australia. It is great to see that Bitcoin adoption is so strong there. Thanks for the news.
This article is really amazing. Things are moving so fast. The end of paper money is nearer, for better or for worse. Who will have the final control? Those without cryptocurrency will be left out, especially those on the other side of digital divide. The poor and uneducated will become absolutely impoverished. But many will become millionaires and billionaires.
Yeah, some will be victims because they rely on the Socialist model for their livelihoods, but with a little help from those who can benefit from the changes, maybe they will be ok. After all, we should be helping each other through the hard times.
Good news for Bitcoin and Bangalore ;)
That's it actually. If India or China adopt Bitcoint, it'll turn mainstream overnight
Too legit to quit!!! we need more @firepower
Have you seen many steemians from 3rd world countries that produce quality content regarding there culture that get heavily under rewarded this is a pain point on steemit that I wish to address. For those that don't speak English I see the language barrier being the biggies issue.
Best,
Isaac
Im glad your community can depend on Unocoin. I had never heard of that exchange before today.
http://www.FlippyCoin.com is the #1 Cryptocurrency Exchange!
Many might not be aware of this, but India has the second largest population of people who know English - doesn't necessarily mean they speak English too. That is 10% of its population or 125 million people.
Hello @maxabit,
That just goes to show why awareness is so important because many of us have inaccurate assumptions.
Why are they under rewarded ?
I believe I may have misspoken more under recognized that under rewarded.
I would like to see the people that just barley get buy living off the land have there post easier to find so that they can be reworded.
It'd be so awesome to see btc make further inroads in India, especially for unbanked, and to provide some 'trust'. I've got a few 500 rupee banknotes at home from my last visit..worthless now I suppose. And can remember on my first trip in 95 the number of clearly counterfeit notes doing the rounds.
@firepower i track India and i belong to Pune. I have seen lot of organisations now coming forward and accepting cryptocurrencies. I am advising a compliance domain startup which can start accepting steem for its certification courses. Its a unique development which i wanted to desperately convey you. Once the implementation is complete i would get back to you with detailed experience of accepting payments in steem soon. We could be probably the first company to accept steem for certification courses.
That is the great post @firepower . i am very like if somebody post like this...
Keep steem on @firepower....
I will be wait for your posting next time...
I will support your job now..
Because you have the useful job for many people in indian..
I like your post...
Thanks
Thank you so much! :D
You are welcome @firepower.
Keep steem on and keep solid too :)
congrats Indian brothers your gov take a smart step towards future finance tool
Thanks! It is a good step!
@firepower - With the debate still going on in India in government circles about making bitcoin legal, mass acceptance, demonstrated through such acceptance by merchants will certainly make Bitcoin path easier for India. I have recently come to know of Unocoin and have started testing their services. I am glad that you have had much more experience. Thank you for sharing this positive article. Upvoted.
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Exciting times!!!
It's just going to get bIgger and BIGGER!
Resteem...
It sure is! Looking forward to some more great good news! :)
This is so cool - we should all be on the lookout for places accepting Crypto and post the results here!
Id like to know which pubs accept bitcoin ;)
Did you know you can use CryptoCarbon ( CCRB)to pay about 10% of costa coffee and lots of pubs in the uk and more to be launched this weekend. check out some of my post on cryptocarbon. uk cryptocurrency
Oh man! If pubs took crypto's.. I'd be out of money! Ahaha
Cheers to that!
Haha! Be careful :P
Haha! Yeah, that's a good idea.