Zebpay, India’s first Bitcoin company crosses Rs 100 crores

Zebpay is India’s biggest bitcoin company. In only 10 months, the company has crossed Rs 100 crores turnover in April 2016. Zebpay is a bitcoin app available on Android and iPhones. It is the fastest growing bitcoin company in India.

Bitcoin has attracted a lot of news in recent months. Wall Street banks and venture capitalists have invested over $1 billion in the technology. The year 2015 was the tipping point for bitcoin and its price was up by 35%. Much attention is paid to the long-term potential of Bitcoin as a catalyst for innovation in the global financial ecosystem.

Recently, in its report, RBI has also appreciated the strengths of the underlying blockchain technology. The technology has the potential to bring a major transformation to shape global financial future. It could help bank the unbanked.

India is where US and China were in 2013. When the process to buy, sell or use bitcoins was complicated. Zebpay has made this process much easier when it comes to bitcoin in India. It enables bitcoin transactions using mobile number. There is no need to understand complex bitcoin addresses. There is no need to take backups or have fear of losing bitcoins for non-tech savvy users.

Currently, Zebpay has a total of over 30,000 users, who use the app to buy, sell, store and spend bitcoins. Around 6,000 new users are adding every month. Zebpay has an aggressive growth target for the coming year. The company aims to add 1 lakh users to its mobile app by the end of 2016.

Zebpay released new features on Android version exclusively for pro bitcoiners in March. These features allow users to set their own buying and selling (bid/ask) price. Users can also keep Rs balance in the app to buy bitcoin anytime. The reviews and forums are full of congratulatory messages from our users. They are appreciating Zebpay’s simplicity and customer service.

Our users include HNIs, tech savvy individuals, freelancers and a few corporates. They buy bitcoins as an investment with the belief that the bitcoin price will rise. Some buy as a hedge against currency devaluation. There are users who regularly buy and sell bitcoins as a trading activity. Freelancers have started accepting bitcoins as payment from their overseas customers.

Receiving payments in bitcoin save the high fee of 5-15% charged by companies like PayPal or the Western Union. Users get the money instantly in their bank account instead of the 3-7 days that these companies take. These users sell the bitcoins they receive on Zebpay to convert them into Rs.

The company is focused on building the safest and simplest bitcoin experience for Indians. About 40% of the population across the country does not have bank accounts. Bitcoin wallets could be used in remote areas without the need for brick and mortar banks. India is perfect as a society to be at the forefront of developing a vibrant cryptocurrency economy.

The number of bitcoin transactions worldwide is growing at an exponential rate. It increased by 81% in 2015. Zebpay is confident to lead the revolution and place India on global bitcoin map.

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