Categories: News

Indian Bitcoin wallet startup Zebpay crosses $15 million turnover

During the last couple of months, the Indian bitcoin wallet startup Zebpay has seen an interesting increase in transactions, thus managing to surpass the 100-crore turnover, in a little over 10 months since operations commenced.

This achievement does not only show the increasing popularity of digital currencies in the countries, but it also showcases the exemplary management of Zebpay. According to Sandeep Goenka, the co-founder of the startup, the group of people using bitcoin in the country include high net-worth individuals alongside with freelancers and tech-savvy persons. While some use the digital currency to hedge against currency devaluation, or to carry out payments, there are also those who take part in regular bitcoin trading.

To put things better into perspective, the 100-crore turnover is equal to roughly $15 million USD, which is absolutely huge considering the fact that to start things up, Zebpay raised Rs 6.6 crore, equivalent to $1 million.

According to Goenka, “By receiving payments in bitcoin, they save the high fee of 5-15% charged by remittance companies”. This may just represent one of the main reasons why the startup has seen such a massive growth.

Related Post

For added security, and to ensure that only legitimate users can operate the app, Zebpay has started asking users to submit their PAN card. Additionally, payments are now made only via bank-to-bank transfers.

Based on everything that has been outlined so far, what do you personally think about Zebpay’s growth? Let us know your thoughts in the comment section below.

If you liked this article follow us on Twitter@themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Daniel Dob

Daniel is a bitcoin investor and journalist for numerous news outlets in the financial sector. When he's not writing, trading, or interviewing people, you can find him swimming, reading or taking one of his hobbies to the next level.

Share
Published by
Daniel Dob

Recent Posts

Aptos (APT) and Tron (TRX) Prices Slide, As Volume Soars For Rollblock Suggesting Parabolic Rally

As Aptos and Tron prices take a recent downturn, the spotlight shifts to Rollblock, whose…

3 hours ago

Altcoins to Watch in November: Binance Coin (BNB), Rollblock (RBLK), and Neiro (NEIRO)

As the crypto markets roll into their most bullish time of year, we present three…

3 hours ago

Analysts Forecast $1 for Cardano and Lunex Network As Dogwifhat Plunges To Former Lows

As the crypto market prepares for a major rally, experts believe that two top altcoins,…

3 hours ago

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

4 hours ago

Llama 3.2 Predicts Price For Dogecoin: $2 Peak By 2025 And $5 Rally For DTX Exchange This Winter

Cryptocurrency trends are keen on the forecast that was recently released by Llama 3.2 model…

5 hours ago

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

6 hours ago