Bitcoin in India has another appeal – remittances and compensating freelancers. Despite an 8.9% drop, India has top receiver of remittances worldwide. Many bitcoin startups in India believes that the transfers through the bitcoin exchange is much more profitable than normal wire transfers.
The legal status of bitcoin varies extensively from country to country and continues to be undefined or converting in lots of them. Even as economies like Japan and Russia move to legalize the use of Bitcoins, India, despite being on the cusp of a digital revolution is yet to officially recognize the crypto currency.
In India there are many companies which provide trading services to buy, sell and hold bitcoin and use them to buy item in India or any other place in the world. Bitcoin exchange in India is a fast growing trend and it can be very beneficial. People are joining the bitcoin trade at a very fast rate. Best bitcoin exchange in India are trying to increase as much awareness as possible.
Bitxoxo is a bitcoin exchange company which was started in 2016 and is one of the fastest growing bitcoin exchange company in India.
The block chain is the underlying technology behind Bitcoin that is used to buy and sell Bitcoin in India.
Bitcoin was started in 2009 but it really started to gain value in last few year and hence people in India are starting to invest in Bitcoin. In the beginning of 2017, the price of one bitcoin was under $1,000 and by the end of the year, the price of bitcoin had reached $3056.08.
“All the things that Gold does, Bitcoin kind of does it better.”, says Naval Ravikant, CEO, and co-founder of Angel List.