“Users are increasingly using Zebpay to pay their mobile bills using Bitcoins and to buy vouchers for online shopping. Last month, users paid bills of more than Rs.15 lakh using Bitcoins. This number is doubling every month,” Sandeep Goenka, co-founder of Bitcoin mobile app-based platform Zebpay, told IANS.
He added that online shopping and utility bill payments via the virtual currency should be available soon.
Bitcoin is a digital currency not produced by any government or statutory authority. It’s generated by encryption techniques using peer-to-peer technology to operate. It has the power of infinite divisibility, which enables its use for tiny online transactions.
The total number of Bitcoins is limited as its global supply has been fixed at 21 million by its founder, who has remained out of sight.