Bitcoin
popularity taking a position in Bangalore.
The
popularity of Bitcoin in India is growing faster every day, more than all in
Bangalore that is the third most populous city of India. The leaders of the area respecting to Indian
bitcoin exchange, Bitxoxo and Unocoin have been enhancing the participation and
acceptation of merchants towards the cryptocurrency.
Many
Bangalore merchants have increased the range of acceptation of bitcoin through
the companies with the best bitcoin exchange in India. Companies that
additionally provide merchant services.
At
the beginning of the month of July, it was reported that at least there are
700.000 users of both companies and that at least more than 400 million INR are
processed every month through cryptocurrencies. In addition, at least six
hundred merchants are receiving bitcoins as a payment. Hence, there are more
merchants expected to join the bitcoin exchange.
Bitcoin
use in Bangalore is highly disseminated, it was recently described that not
only products and services that can be paid with bitcoin in the city, but also
bus tickets, e-shopping vouchers, meals and getting a haircut will be included.
Therefore, we are in front a renovation of the economy in the city from the
normal rupees exchange to the bitcoin exchange that will be spread to the rest
of the country. This factor will help develop not only the top bitcoin exchange
in India but also in the world.
However,
the physical presence is a factor that the companies at the top of the bitcoin
exchange in India should emphasize. Most of the Bangalore merchants that have
made contracts with the companies of bitcoin exchange have done it because of
the physical presence of the companies in the city, while in other cities the
companies do not have stronger presence and as a consequence many merchants do
not trust in the lack of concrete structures and offices. Hence, the companies
at the top of the bitcoin exchange in the country such as Bitxoxo or Unocoin
should develop more training and educative programs that teach merchants about
the nature of the cryptocurrency. Consequently, it will be a impulse for
merchants to hug the bitcoin exchange with no fears.
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