The emerging Indian Bitcoin ecosystem is going from strength to strength. Companies and exchanges are establishing themselves, making it easier for people in India to buy, sell, and trade bitcoin.
For example, Sandeep Goenka, a founder of Zebpay, explains his motivation for setting up the company, “I wanted bitcoin to be as simple to use as Whats App”. The app not only allows users to buy and sell bitcoin through their smartphones, but also conveniently pay their utility bills, mobile top ups and even pay for fast food.
The rising popularity of Bitcoin is highlighted by the fact that Zebpay’s app has more than 100,000 downloads to date across Android and iOS devices. One factor that is fuelling this popularity is India’s large diaspora, which is approximately