Indians Use Bitcoins To Pay Their DTH, Mobile Bills Via Zebpay
http://www.econotimes.com/Indians-Use-Bitcoins-To-Pay-Their-DTH-Mobile-Bills-Via-Zebpay-211507
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Bitcoin payment is showing incremental growth in terms of user base in India. Zebpay is being used as a platform by many Indian users to pay mobile, DTH bills using bitcoins.
With more people adapting to digital currency these days since it is not produced by any government or statutory authority, the virtual currency is being projected more in India.
“Users are increasingly using Zebpay to pay their mobile bills using Bitcoins and to buy vouchers for online shopping. Last month, users paid bills of more than Rs.15 lakh using Bitcoins. This number is doubling every month,” said Sandeep Goenka, co-founder of Bitcoin mobile app-based platform Zebpay.
With this technology, when a user wants to pay for a bill of, say, Rs.500, the Bitcoins from their Zebpay wallet are transferred to the company at the current bitcoin price. Later, Zebpay pays the amount in rupees to the mobile carrier companies. The value of each bitcoin is around Rs.30,000 and the price of Bitcoins depend on demand and supply, just like the price of shares.
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With more people adapting to digital currency these days since it is not produced by any government or statutory authority, the virtual currency is being projected more in India.
“Users are increasingly using Zebpay to pay their mobile bills using Bitcoins and to buy vouchers for online shopping. Last month, users paid bills of more than Rs.15 lakh using Bitcoins. This number is doubling every month,” said Sandeep Goenka, co-founder of Bitcoin mobile app-based platform Zebpay.
With this technology, when a user wants to pay for a bill of, say, Rs.500, the Bitcoins from their Zebpay wallet are transferred to the company at the current bitcoin price. Later, Zebpay pays the amount in rupees to the mobile carrier companies. The value of each bitcoin is around Rs.30,000 and the price of Bitcoins depend on demand and supply, just like the price of shares.
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