New Zebpay Figures Indicate Awareness of Bitcoin is Growing in India



Is bitcoin usage growing in India? You bet! Zeb IT Services Pvt Ltd, a bitcoin app-based exchange headquartered in Ahmedabad, India, has announced that the company’s app, Zebpay, has been downloaded over 100,000 times from Android and iOS app stores.

The Zebpay app was launched in July of 2015 and the newly released figures are evidence of the swelling interest in digital currencies among Indians.

While most digital currency exchanges require users to be familiar with the mechanics of sending and receiving bitcoin payments - which can be a daunting task for newcomers and non-techies - Zebpay’s mobile wallet ties the user’s bitcoin to their email address, thus removing bitcoin’s very long alphanumeric addresses from the user experience.
“Zebpay removes all friction for a first time bitcoiner. You can buy and sell bitcoins from the app itself. Also, your bitcoins are linked with your mobile number so you don’t have to worry about bitcoin addresses and wallet backups.”



And this particular functionality has contributed a great deal to the success Zebpay is seeing in India. The press release states that 20,000 new users are signing up every month to use the Zebpay mobile bitcoin exchange. Mahin Gupta, co-founder and CTO of Zebpay, is expecting roughly 350,000 downloads by the end of the year, “We are on a mission to spread bitcoins in India. We believe it has a potential to bring technological disruption in financial infrastructure,” he adds.

The mobile app has also been received quite well on iTunes and Google Play, with ratings of 4+ and 4.3 respectively. Just one year after launching, Zebpay revenues for the month of June crossed 250,000,000 Indian rupees ($3,734,670).

Zebpay’s success comes at a time of rapid growth for the Indian telecom industry. Data released by the International Data Corporation revealed that the Indian smartphone market recorded a 17% growth in the second quarter of 2016. And according to the recent global Ericsson Mobility Report, there were 21 million new mobile subscriptions in India during the first quarter of 2016, compared to only 3 million in the United States.

About Author: author Steve Todorov is the founder of Razor-Forex.com, an ardent digital currency enthusiast and Forex trader. Read More...

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7 comments :

  1. Zebpay is, without a doubt, a great app for Indians to buy and sell bitcoins. You'll need 5000 minimum deposit to buy its equivalent bitcoin. They offer in app services such as mobile recharge in exchange of bits.

    I think you should write an article about Unocoin. Unocoin has its own website and the service they provide is good. They don't have an app as Zebpay. Unocoin requires users to have 1000 rupees to buy it's equivalent bitcoin.

    I believe that Unocoin and Zebpay will be a part of the bitcoin boom in India.

    1NieA4DuwuhecY6RHcrhTDsnrvfsRd7d4x

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    1. Hey, thanks for the shout out! Also, I would like to correct one point that you can start buying bitcoins with min Rs 500 with Zebpay! Please visit http://bit.ly/1ZhfPPD for transaction limits.

      Regards

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  2. We have to keep in mind the population of India, which is very big. So are the 100k downloads realy a big deal?

    Also, it helps a lot for the non-techs to use their emails instead of their bitcoin address

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    1. The CTO said 350k downloads by the end of the year, so that is still significant. Might be a million by next year.

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  3. I think that all of my Indian online writing pals are completely aware of the bitcoin and how it works - for one it is a good convenient way of the payment while others even think to invest or play with the alt-coins.
    As long it provides the worth for their services and networking, by majority, it is the same like any other FIAT currency.
    I am sure this application will make things easier for them, especially because many things online are not available in India like in the rest of the western countries and world in general.

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  4. Mobile app payments and banking has taken the African market by storm and the Asian marketplace will not be any different. People have mobile phones and this gives the rural population access to banking type payment facilities on the move. Most rural people do not, until now, have access to a bank account for payment and other transactions.

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  5. I'm not a native Indian national, so it doesn't give me an edge in regards to the use of Zebpay. But overall, I know that this is one of the leading Bitcoin exchange in India. In fact, I've read a lot of good reviews and feedback about the site from CoinTelegraph, NewsBTC, Times of India, and others, giving it a thumbs up. Another thing I want to add about Zebpay is they occasionally conduct giveaways not only for Indians but also international.

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