100 bitcoin in rupees

R3 is a big consortium and a private blockchain. The consortium is supported by bankers. It is not blockchain and it has got nothing to do with virtual currencies. The merit with RBI is that it considers blockchain to be an interesting technology. There is a wait and watch approach — it is waiting for the proliferation to happen, and to let the technologies develop.

They have also issued two press releases. They say that there are legal and technical risks involved. They are concerned about misuse of Bitcoin. The technology is not ready.

Conversion BTC in Indian Rupee

It is not illegal to buy and sell bitcoins in India. There is no law in India declaring it illegal. The RBI knows we exist and we have corresponded with them. We do trade worth more than Rs core a month. We deal with bank accounts and we are a registered company. What can Indians buy with Bitcoin today?

Are service providers, utilities and e-commerce companies accepting Bitcoin? Typically, in a trade of any commodity or foreign currency, 98 per cent are traders speculating on the potential future value and 2 per cent is for goods and services, to buy and sell goods.

People are buying and selling based on news and assumptions.

They speculate whether they will make a profit in the future. This is fine as it provides liquidity to that asset. Likewise, there are people speculating on the future value of Bitcoin. In India, there are very few merchants who accept Bitcoin.

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So you can buy a Dell laptop with bitcoins or make a hotel or airline reservation and pay in Bitcoin. It does not make sense for Indian e-commerce companies to start accepting Bitcoin yet as few Indian consumers own bitcoins. Zebpay stocks vouchers from different service providers and if you own bitcoins, you can top up your airtime, for instance, using these pre-paid vouchers.

You can purchase these vouchers in bitcoins from us. We do more than Rs 50 lakh sales per month, and we are doing this to grow the community.

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This number doubles every 3 or 4 months. When do you see widespread use of Bitcoin to the extent that people are using e-wallets these days? It is at its peak now. It has been the best performing asset since it was invented. In China and the US, the trade in Bitcoin is worth billions of dollars.



Each bitcoin is subdivided into million smaller units called satoshis, defined by eight decimal places. Please kindly be advised that Bitcoin is very volatile. It can change a significant amount in a very short period of time.

BTCINR Charts and Quotes — TradingView — India

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