Crypto currency bitcoin is gaining popularity in India, especially among companies and high-net worth individuals, for buying and selling, or as an asset.
There are now online wallets that allow one to trade, buy vouchers of e-commerce companies, and even recharge one’s phone in bitcoin. Ahmedabad-based mobile wallet Zebpay allows one to buy, store, send and spend bitcoins through cell phone numbers.
“One can park money in the wallet in the hope that the value of bitcoins would go up. So in a way, it is like an asset class,” said Sandeep Goenka, co-founder and chief operating officer, Zebpay.
He added that companies and wealthy individuals have expressed interest in buying bitcoin as an asset class.
According to the Zebpay website, one bitcoin was valued at Rs 23,019.
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