Bitcoin in India is a bit of a difficult subject to tackle. Officially speaking, Bitcoin is not banned in India, even though the government and most financial institutions would rather not get involved for the time being. But that doesn’t mean Bitcoin is not popular in the country. And that popularity has not gone unnoticed.
UnoCoin – Bitcoin Wallet and Payment Processor
The name UnoCoin carries a lot of weight in the Indian Bitcoin community. Not just because this company is similar to Coinbase in many ways, but also because it is the most commonly used Bitcoin platform in India. By offering both a wallet service and a merchant payment processing feature, UnoCoin has become synonymous with Bitcoin in that part of the world.
Bringing Bitcoin to customers in India is not an easy task either. Granted, most people have some level of knowledge in terms of the financial world – and also how it is failing on a global scale – but that doesn’t make them a fan of Bitcoin either. However, Bitcoin packs a powerful technology under the hood, which is one of the main reasons India is warming up to digital currency.
Over the course of recent months, there has been a noticeable increase in Bitcoin adoption and usage in India. This could be seen as a consequence of citizens looking at other options to store and transfer value, or perhaps even a proper understanding of how Bitcoin and the underlying blockchain technology work.
That being said, there is still very little incentive to use Bitcoin in India, even though there are several merchants and platforms accepting BTC payments. However, the recent partnership between UnoCoin and eTravelSmart might be changing that very soon, now that citizens of India can purchase tickets with Bitcoin.
eTravelSmart & UnoCoin Join Forces
The partnership between eTravelSmart and UnoCoin aims to accomplish multiple goals in the next few months. First of all, the main idea is to make the booking and purchase of tickets with Bitcoin more financially viable and user-friendly. According to an eTravelSmart official, this online bus booking portal will allow customers to make purchases with Bitcoin, and all payments will be handled by UnoCoin.
eTravelSmart Decided to start accepting Bitcoin payments – as well as other means of payment – due to the increase in Bitcoin awareness in the country. Any self-respecting company is always on the lookout for additional ways of pleasing their customers, and Bitcoin payments seemed to be the logical step forward at this time.
At the time of publication, a few Bitcoin sales have been processed by UnoCoin on behalf of eTravelSmart already. If everything goes to plan, this number of sales will keep increasing month over month, which can be partially attributed to the number of Bitcoin meetups in the country.
Source: Forex Minute
Images courtesy of Shutterstock, UnoCoin and eTravelSmart