• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Cryptocurrency bitcoin is gaining popularity in India. newsbtc bitcoin india news

Bitcoin Adoption in India May Surge during Diwali Festival

Gautham by Gautham
6 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Festivals and celebrations have quite an effect on Bitcoin. While people celebrate with their friends and family during the holiday season, the adoption and number of Bitcoin transactions tend to increase as well. The variations are usually visible days if not weeks before the holiday season. Like Christmas and New Year, the Hindu festival of lights — Diwali is a huge deal in India.

People usually go on a shopping spree before Diwali. Online commerce platforms see a huge surge in sales, which is further encouraged by discounts and other offers. The budding Bitcoin ecosystem in India is also expected to see a rise in adoption with increased transaction volumes by October 20, the beginning of 5-day long Diwali celebrations.

Apart from trading, the Indian Bitcoin community is expected to spend their Bitcoin holdings on online shopping platforms. However, the lack of Bitcoin debit cards and Bitcoin-accepting e-commerce platforms in the country is forcing the Bitcoin community to use platforms like ZebPay to cater to their online shopping needs. ZebPay allows users to buy gift cards of the country’s major online retailers like Flipkart and Amazon with Bitcoin. The platform offers an additional discount of at least 5% on these gift cards.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

At the same time, remittance industry is another sector where Bitcoin is soon going to play a huge role in the country. India is known to have the largest remittance market, receiving about $70 billion each year. The Indian diaspora spread across the world are known to send money to their immediate families and relatives back home. The remittance volumes also show a significant increase during festivals. While some people already use Bitcoin for cross-border transactions, the Indian Bitcoin companies are gradually moving to capture their share of the market as well.

Coinsecure, another Indian company has recently partnered with OKCoin’s OKLink to offer remittance services in the country over Bitcoin blockchain. As these companies venture into new market segments, there has been a significant capital inflow into them in the recent days. ZebPay and Coinsecure have already raised over a million dollar in investments each. Unocoin also joined the ranks recently by announcing its latest $1.5 million fundraising round from Indian and US investors.

READ MORE: Indian Bitcoin Startup UnoCoin Raises $1.5m in Latest Funding

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

This festival of lights is just a small stepping stone for the Indian Bitcoin industry which is growing at an accelerated pace.

Ref: PYMNTS | Bloomberg | Image: NewsBTC

 

Tags: bitcoinBitcoin Newsblockchain technologyCoinSecurediwaliindiaNewsremittanceunocoinzebpay
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Gautham

Gautham

Related Posts

Fasttoken (FTN) Secures Multi-Million Dollar Investment to Advance Its Web 3 Ecosystem

Fasttoken (FTN) Secures Multi-Million Dollar Investment to Advance Its Web 3 Ecosystem

8 hours ago
U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

U.S. Government Releases Roadmap To Mitigate Crypto Risk For Investors

13 hours ago
Signal Message FTX Sam Bankman-Fried

Former FTX Boss Sam Bankman-Fried Using Privacy Messaging App Signal

16 hours ago
Silvergate Dividends

Crypto-Friendly Bank Silvergate Suspends Dividend Payouts

18 hours ago
Does the Crypto Market Have The Strength To Break To The Upside? QCP Capital Weighs In

Does the Crypto Market Have The Strength To Break To The Upside? QCP Capital Weighs In

1 day ago
Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

1 day ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

Connecting the dots on $PAW. Is Ryoshi back?

January 28, 2023

Cardano’s (ADA) first native stablecoin will launch next week, Binance (BNB) Moved $346M for the Defunct Exchange Bitzlato, Snowfall Protocol (SNW) brings in massive 500% profits to investors

January 28, 2023

Cardano (ADA) Leads Crypto Dip as Market Sheds $27B Overnight, DMM Bitcoin starts handling Polygon (MATIC), Less than 7 days remain to Snowfall Protocol’s (SNW) launch

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.