Bitcoin popularity taking a position in Bangalore.
The popularity of Bitcoin in India is growing faster every day, more than all in Bangalore that is the third most populous city of India. The leaders of the area respecting to Indian bitcoin exchange, Bitxoxo and Unocoin have been enhancing the participation and acceptation of merchants towards the cryptocurrency.
Many Bangalore merchants have increased the range of acceptation of bitcoin through the companies with the best bitcoin exchange in India. Companies that additionally provide merchant services.
At the beginning of the month of July, it was reported that at least there are 700.000 users of both companies and that at least more than 400 million INR are processed every month through cryptocurrencies. In addition, at least six hundred merchants are receiving bitcoins as a payment. Hence, there are more merchants expected to join the bitcoin exchange.
Bitcoin use in Bangalore is highly disseminated, it was recently described that not only products and services that can be paid with bitcoin in the city, but also bus tickets, e-shopping vouchers, meals and getting a haircut will be included. Therefore, we are in front a renovation of the economy in the city from the normal rupees exchange to the bitcoin exchange that will be spread to the rest of the country. This factor will help develop not only the top bitcoin exchange in India but also in the world.
However, the physical presence is a factor that the companies at the top of the bitcoin exchange in India should emphasize. Most of the Bangalore merchants that have made contracts with the companies of bitcoin exchange have done it because of the physical presence of the companies in the city, while in other cities the companies do not have stronger presence and as a consequence many merchants do not trust in the lack of concrete structures and offices. Hence, the companies at the top of the bitcoin exchange in the country such as Bitxoxo or Unocoin should develop more training and educative programs that teach merchants about the nature of the cryptocurrency. Consequently, it will be a impulse for merchants to hug the bitcoin exchange with no fears.