Bitcoin can be a lucrative business model for entrepreneurs willing to endure a lot of hardship in the early stages ZebPay, a name synonymous with Bitcoin in India, is currently processing millions of USD on a monthly basis. But the company went through its initial problems as well. None of this has held the company down by any means, which is positive to see.
Running A Bitcoin Business Requires Patience
Most people will gladly admit Bitcoin is far from matured. While there are signs of evolution compared to seven years ago, there is still a very long way to go. Any company active in the Bitcoin world right now will see its share of hardship and setbacks. ZebPay, India’s largest Bitcoin service provider, knows this all too well.
In its current form, ZebPay lets users buy anything in India Among the services they support are Amazon, Domino’s, Flipkart, and PVR vouchers, to name a few. This goes to show there is a huge demand to use Bitcoin for everyday goods and services. Having a gateway to do so is part of ZebPay’s success throughout the years.
But things did not start out all that well. Zebpay co-founder Mahin used to run the BuysellBitco.in platform. Users could access this platform to convert between fiat currency and cryptocurrency. However, the platform caught the attention of India’s central bank, and a raid by government officials followed shortly after its launch.
Ever since that time, ZebPay has been taking strides to ensure they are fully compliant with regulation. New users will need to submit a copy of their PAN card, as well as a mobile number. These verification procedures are pretty standard when it comes to dealing with any bitcoin exchange in the world today.
One of the biggest draws of ZebPay is how the company shows it is not just a currency for geeks. Their focus has been on taking cryptocurrency mainstream from day one The gateway services to popular merchants is a big step in the right direction So far, the company an average of US$10m per month in Bitcoin volume, and there is plenty of room left for growth.
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