Though the virtual cryptocurrency, Bitcoin, is yet to receive direct support and acceptance from financial regulators, there is one Indian startup that is nurturing and growing the use of same among the populous. Zebpay, an Ahmedabad-based Bitcoin exchange startup has today announced that it has crossed 100,000 app downloads, including both Android and iOS.
Started in 2015 by Mahin Gupta, along with co-founders Saurabh Agarwal and Sandeep Goenka, Zebpay is the largest Bitcoin exchange startup in the country. It has been setup with the simplistic(yet tough) outlook of providing a reliable and secure investment experience to the regular crowd. With its own in-house developed blockchain technology, Zebpay is one of the most secure platforms to buy and sell bitcoins in the country.
This milestone, achieved within an year of operations, confirms the company’s belief in virtual cryptocurrency and the growing interest of Indians in bitcoins as an investment, commodity and technology. Commenting on the same, Mahin Gupta, co-founder and CTO, Zebpay says,
100,000 downloads is a big milestone for us. We are currently adding 20,000 users every month and we are confident about meeting the target of touching 350,000 downloads by the end of 2016! We are on a mission to spread bitcoins in India. We believe it has a potential to bring technological disruption in financial infrastructure.
Zebpay’s Bitcoin app is available to users looking to enter the world of cryptocurrency on both Android and iOS. Zebpay has an impressive 4.3+ rating for the Android app and is also recognized as the Number 1 ranking app for bitcoin in India. But, as most users have suggested there is still a lot of scope for improvement in terms of bitcoin exchange, price history and others.
Delivering on its promise of providing a simple, fast and error-free transaction experience, the app allows users to sell/buy bitcoins, and use the same to recharge your mobile/DTH or purchase vouchers for online services like Amazon, Flipkart, etc. The app removes any and all friction for a first time Bitcoin trader.
Backed by an impressive investment of $1 million, the company is staying true to its roots and trying hard to make bitcoin, the currency of the future in India. Arjun Handa, CMD & VP of Claris Life Sciences, and Amit Jindal, MD of Jindal Worldwide, were the two major investors in the startup.
Zebpay is kind-of the safe haven for Indians who are interested in trading and storing their Bitcoins. Your account on the app is linked to your mobile number, so you also don’t need to worry about Bitcoin addresses, wallet backups or loss of bitcoins. Zebpay has also made it mandatory for all users to submit their PAN card and all payments are made through bank-to-bank transfers only to ensure transparency.
The company has recently also unveiled a slew of new features for pro bitcoiners on its platform. These new features allow traders to set their own bitcoin price(bid/ask), keep balance in the app to buy bitcoin instantly, and check transaction status using transaction id.
So, are you intrigued to try out trading in Bitcoins? Comment your thoughts down below.
A hands-on guy fascinated by new apps, technologies and enterprise products.