WHERE TO USE BITCOINS IN INDIA

We live at a point in time where cryptocurrencies are taking over the fintech industry. As we move into the cashless future crypto and particularly bitcoin is gaining popularity over mainstream (fiat) currencies. The adaptation, acceptability, and application are increasing every day. In this article, we are going to examine seven ways in which bitcoin is used in India and across the globe.  

Prior to examining the common application of Bitcoin in India, it is necessary to understand that Bitcoin is a virtual, decentralized and distributed currency. Also, it was the first form of cryptocurrency that was introduced in early 2009 by an unknown group of programmer called Satoshi Nakamoto. In most instances, bitcoins serves as an alternative of money, or we can say gold. Thus, it is used in places where traditional cash can be used.   

Where or how can you use Bitcoin…?

As a medium of exchange and a form of payment to goods and services: 

Despite the hard side of the law on bitcoin usage in India, there is potential for bitcoin to flourish in India upon its full legalization. The Vietnamese government has legalized OneCoin, a great step to show the possibility of reviving bitcoin in India. However, one can use bitcoin in India to make purchases on other platforms outside India such as Amazon.

Purchases through Mobile Apps

Another way that Bitcoin is used in India is through a developed mobile app. For example, Exchange platform such as Zebpay has Android and iPhone app already. The apps make it easy to do a transaction. Some of these mobile apps have wallets to store digital assets as well. Thus bitcoin can be used to make purchases and store wealth for the Indian people. 

Buy Gift Vouchers

Bitcoin has been popularly known to enable purchases of gift cards, for friends and family across the globe. Additionally, Bitcoin and other altcoins are also used on Nafa to buy and sell Gift cards. So, if you want to send gift cards to friends or family, be sure to check out Nafa, the marketplace for buying and selling of Gift Cards at great prices. 

Online Gambling (Bitcoin casino)

Gambling is a game that is much loved by Indians. Just like football or traditional casino Bitcoin and other cryptocurrency have been on the trend as the best online gambling games. Due to the speculative nature of Bitcoin, it becomes an ideal way to gamble online. Some people become an overnight millionaire as a result of bitcoin casinos. 

Transferring Assets across Borders

Due to unfavourable cross border laws and fluctuations of forex exchange sometime it may hinder the exchange of assets across the border. Fortunately, Bitcoin is universally recognized. As such, you can easily convert your asset to fiat currency and cash out on your Bitcoins from anywhere, with the use of a crypto wallet such as LinqCash.

Linqcash is a Payment Gateway Wallet, it offers a user-friendly interface that is easy to use even for beginners. There are also a lot of positive reviews about them online and most importantly their rate is superb. With all this stated, how do you get to start using Linqcash for your Cash out? 

• You need to sign up at Linqcash so you can be assigned a Crypto Wallet
• Once you are done you need to transfer your Bitcoin to your Linqcash wallet address
• Afterward, you can Buy/Sell on the platform and get paid at an awesome rate

Online trading Sales of Digital Goods

One can use bitcoins on Amazon while in India.  Even though Amazon does not accept bitcoins, one can convert the bitcoins to amazon gift cards, Then use them to purchase a wide range of products such as books, magazines, electronics, and computers.

Final Thoughts 

Bitcoins’ future looks promising in the Indian cryptocurrency market. With Bitcoin gradually being accepted everywhere in the globe, you can rest assure that your Bitcoin transactions are safe and secure. As we speak, Bitcoin service providers in India are slowly expanding the cryptocurrency’s scope of usage.

However, for Bitcoin to truly succeed, the government regulatory authorities will need to provide a favourable framework that would support remittances to India’s online financial solutions.

Disclaimer: The blog content above does not constitute financial advice in any way whatsoever. Nothing published by LinqCash constitutes an investment recommendation, nor should any data or Content published by LinqCash be relied upon for any investment activities.

LinqCash strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.