Bitcoin wallet Zebpay crosses Rs 100 crore turnover

NEW DELHI: Bitcoin wallet firm Zebpay today said it has crossed Rs 100 crore turnover within 10 months of operations as more Indians are going for the digital currency.

“In only 10 months, the company has crossed Rs 100 crore turnover in April 2016,” Zebpay said in a statement.

Zebpay, a Bitcoin app, deals with Indian customers only and it has made PAN number a must for users for opening of wallet, company co-founder Sandeep Goenka said.

Bitcoins are digital money and their value is determined o the basis of their demand and supply. The digtal money is limited in numbers.

Only 21 million Bitcoins can be generated globally and they can be traded even in fractions, up to eight decimals. Last bitcoin will be generated in 2140 but 99 per cent would be already there by 2040.

At present, the value of a Bitcoin is around $430 a unit, or about Rs 28,400. The value when Zebpay launched its operations was about USD 280.

“The year 2015 was the tipping point for Bitcoin and its price was up by 35 per cent. Much attention is paid to the long-term potential

Read more ... source: TheBitcoinNews