Buying Bitcoin Becomes More Popular In India Amid Rupee Controversy
Looking over the Google Trends page, it looks like “buy Bitcoin” is quickly gaining popularity. There seems to be a lot of confusion regarding the financial situation in India. Albeit the 500 and 1,000 Rupee notes are now illegal, that does not mean they are useless. Consumers can exchange them at 70% of face value at exchange offices. That said, the interest in Bitcoin continues to grow in the country, and will continue to do so for the foreseeable future. Cryptocurrency enthusiasts remain hopeful Bitcoin will dethrone cash sooner or later. While that sentiment is shared by a lot of....
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In the end, it doesn't really matter where people are buying their cryptocurrency from. The demand for Bitcoin is surging, as many people had predicted it would. Over the past week, there have been many news stories about Bitcoin in India. After the rupee note ban, the government started targeting gold supplies as well. All of these changes are driving people to Bitcoin, as can be seen on the Coin Dance charts. In fact, the amount of Bitcoin bought and sold through LocalBitcoins has virtually doubled in a week. Surging demand for Bitcoin in India was only a matter of time at this rate.....
India is now the second biggest user of Purse.io’s ‘Bitcoin Amazon’ as sweeping changes take effect over the country’s currency, the rupee. Cash Removals ‘Strengthening the Common Man’. In a televised speech, Prime inister Narendra Modi declared this week that larger-denomination rupee bills, specifically 500 ($7.50) and 1000 ($15) rupees, would no....
Indians appear to be braving huge exchange spreads in a bid to accrue Bitcoin following demonetization of the two largest rupee cash bills. Indians Buying At $900+ Per Bitcoin. A week ago, the Indian government suddenly withdrew the country’s 500 and 1000 rupee bills from circulation. Now, bitcoin is experiencing a knee-jerk reaction among citizens....
The second most populated country in the world is stepping up to the plate to consider Bitcoin and provide this digital, decentralized cryptocurrency an opportunity to flourish prior to regulating. With a population of over 1,232,530,000, India is a hotspot of potential for growth of the Bitcoin currency and community. Right on the top of the list of the most tech-oriented nations, India will take a leap forward should the Reserve Bank of India truly take a hands off approach towards the Bitcoin currency. As the Indian Rupee is calling for attention with higher rates of inflation, the....
Working around the cash shortage in India has become a puzzle. Banks are experimenting with ATM buses, and it is possible to hire people who will stand in line for you. Obtaining new rupee banknotes in India remains a big struggle to his very day. Nearly a month after the cash ban had gone into effect, a lot of residents are still waiting in line outside bank branches. Thanks to Snapdeal, it is now possible to purchase new bills online and have them delivered to a home address. Orders can be placed with debit cards, and there is one rupee commission. Things have gotten out of hand rather....