Buy bitcoins online in India Seller Payment method Show more… Sell bitcoins online in India Buyer Payment method Show more… Buy and Sell Bitcoins in these popular cities in India City Trading Amount has become the first e-commerce site in India to exclusively accept bitcoin as a payment method.Launched by Delhi-based entrepreneur Amit Kumar, the online store retails more than 150 products, ranging from digital currency mining equipment to fashion accessories.Currently, there are more than 500 e-commerce startups in India – most having popped up within the last five years.Companies like Flipkart are dominating the local market, making it difficult for new players to enter.HighKart is taking an unusual, and brave, route into this mêlée by eliminating the large potential consumer base that uses fiat currencies and opting to accept only bitcoin.However, HighKart’s model relies on rejecting fiat in order to turn over profits.Kumar explains that being an exclusively bitcoin retailer helps him offer competitive prices because he does not have to pay commission to payment processors.

He added: “I can also hold onto the bitcoin and wait for the valuation increase and still make money out of it, which is not possible with the fiat currency.” While HighKart is not the first Indian business to say ‘yes’ to bitcoin, other ventures are accepting it alongside fiat.WeRwired, a Bangalore-based geospatial, security and entertainment consulting company, is one of them.The owners started accepting bitcoin payments in order to give more choice to their customers, they say.Castle Bloom, a salon in Chandigarh, became the first physical outlet to start accepting the digital currency late last year.However, that honour was short-lived and they reversed their decision following the recent Reserve Bank of India raids on bitcoin exchanges.Castle Bloom refused to comment further.Those raids, along with an RBI warning on virtual currencies, have raised alarm in the Indian bitcoin community, but Kumar is not worried about the warnings because he says that all of the products in his catalogue are legal in India.

He says that a big reason for starting this venture was to get people to start using their bitcoin, as opposed to simply holding them: “In the Indian ecosystem, bitcoin is still just a holding asset – this is not going to help the Indian bitcoin community to grow.best litecoin caseIf you want to make it a sustainable currency in the longer run, then there should be an intrinsic value to the currency.bitcoin leading zerosAnd that comes when you start using that currency.” Kumar is so confident about his business model that he is planning to expand its operations in the American market as well.bitcoin chart kursWhile HighKart is the first stab at a bitcoin-exclusive e-commerce venture in India, many other enterprises are already up and running.bitcoin evil data

Currency exchanges are the most popular bitcoin-based business right now.Venture capitalist Maninder Gulati says, however, that both e-commerce and exchanges are not useful for the Indian bitcoin ecosystem at the moment.1 bitcoin a peso mexicanoGulati is the vice president at Lightspeed Ventures, a company that has invested in three bitcoin startups including BTC China.bitcoin como criar“Most of the startups that have come about have taken a short-term view,” he explained.“Their view is ‘let me build an exchange’ rather than actually solving some of the core problems: liquidity, awareness, convenience, security.” He is encouraging entrepreneurs to take a different approach: “If I was an entrepreneur, I would look at things differently.I would say, what is really the India-specific case that solves a certain problem using bitcoin that cannot be solved otherwise.

E-commerce is not that problem right now.” Another concern with launching a bitcoin e-commerce site in India is the low popularity of digital currencies in the country.However, Kumar debunks that myth: “There is a misconception about the bitcoin community in India being small.People have bitcoin; they are just afraid to use it.We are getting orders from very remote parts of India, which we never imagined.” Man with card image via Shutterstock The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.The growing need for automated teller machines including Bitcoin ATMs in developing nations such as Nigeria, India, and Kenya is propelling the growth of the global ATM market, says Technavio’s latest global ATM market report.Emerging trends The research highlights three key emerging trends predicted to impact market growth through 2020.Aside investments in bitcoin ATMs by entrepreneurs, the research study also identifies deployment of ATM machines in off-site terminals and advances in technology emerging trends expected to propel the growth of the global ATM market.

, which collates the location of bitcoin ATMs all over the world, there are presently 639 bitcoin ATMs in different parts of the world.This is almost a 200% increase in the number reported by the same website in 2014 when it showed there were 211 Bitcoin ATMs operating on six continents.Government initiatives for disbursing benefits, including food stamps, through electronic machines to reduce costs are driving ATM installations and this enables beneficiaries to access deposit accounts with the help of cards that work at ATMs and POS terminals.Government initiatives Africa launched its first bitcoin ATM in 2014 when Lamassu’s machine hit Johannesburg in South Africa.A year later, Botswana’s first Bitcoin ATM, a Skyhook model, landed in the country.The Technavio study states that ATM installations in the cited countries are driven by initiatives designed and introduced by governments in the developing regions to meet the requirements of the rural customers of disbursing benefits, including food stamps, through electronic machines at reduced costs.