India May Overtake China in Bitcoin Use
Several new developments are pointing to India as being the next point of interest for the key digital currency Bitcoin. They are building on the untapped opportunities available to the country’s billion people. Surge in Internet use. India has overtaken the United States to become the world’s second largest Internet market, with 333 million users, behind China’s 721 million. Even though this is a positive development, the new report by the UN Broadband Commission for Sustainable Development also confirms that just six nations – including China and India – together account for 55% of the....
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This article is not the first time that I have covered the Chinese Bitcoin economy. Four months ago, China saw its first major interaction with the Bitcoin community when the One Foundation, the largest independent charity in China, started accepting Bitcoin donations for a disaster relief campaign, and received 230 BTC (then $30,000) within two days. Two weeks after that, China became the first country to overtake the US in BitcoinQt client downloads, and keeps a position of second place to this day. China also has an online discount store accepting bitcoins, a high level of Bitcoin....
Bitcoin activity in India has been on the rise over the past few months, and a new partnership between bitcoin exchange, Unocoin, and payroll service, Bitwage, may help that growth continue. This new partnership is designed to allow freelancers or employees in India to receive a better rate on the payments they receive from outside the country. Freelancers in India have already been taking advantage of the better rates they get by telling their employers to pay them via Bitcoin rather than PayPal, and Bitwage has the potential to make the process of getting paid via Bitcoin much simpler....
Despite a strong emphasis on “social status” in India, holding a Bored Ape Yacht Club NFT there isn’t impressing anyone. Despite ranking as one of the highest adopters of cryptocurrency among emerging markets, the majority of the Indian market is yet to embrace nonfungible tokens (NFTs).In an interview with Cointelegraph, Totality Corp Founder and CEO Anshul Rustaggi explained that social and cultural barriers, as well as anti-crypto regulations, are holding back NFTs from mass adoption — particularly in some of the lower-tier cities in the country. India has a population of 1.38 billion....
Bitcoin to overtake PayPal in 2014. The Laureate Trust has announced, via a press release to The Digital Journal, that they expect Bitcoin to pass PayPal in USD transaction volume later this year. The Trust has pointed out that Bitcoin is fast establishing itself as the currency of choice for international internet purchases and payments. Bitcoin has now reached a transaction volume of $300 Million, per day. The Laureate Trust sees the current Bitcoin price, now circa US$530-560, as a tremendous opportunity to buy into Bitcoin, they advise that the currency could increase by up to 50....
According to a report by the Internet and Mobile Association of India (IAMAI) along with IMRB International, the two organizations forecast that Internet users in India are expected to reach 302 million by the end of the year. The forecast is a 32 percent increase from the 213 million Indian Internet users at the end of 2013. Currently, the ranking puts China in the first place with 600 million Internet users, with the United States at 279 million Internet users and India following closely behind and battling for second place. Reported by The Hindu news source, upon release of the report....