TheaterErfurt
The Bitcoin price in India just crossed ₹10 lakh today. But what can you buy with all that (digital) money? Find out!
In the early hours of the morning, while you were fast asleep, the Bitcoin price in India just broke the ₹9 lakh mark. The crypto currency began its ascent in late November when it broke through $9000 (₹5.8 lakh) mark and has just not stopped gaining since then. Created by an mysterious person (or a group of persons, it remains unknown) called Satoshi Nakamoto, Bitcoin emerged in 2009 in the form of code and initially had no value. Its earliest known valuation is from mid-2010 when it stood at $0.06 – which is less than ₹20. Bitcoin has come a long way in these last seven years, even surviving a
. Though the governments of the world are still trying to catch up with the new unregulated digital economy – save for Japan, the country where the cryptocurrency originated – Bitcoin has arrived. It is now a legit thing that is happening in the world, unbelievable as it may seem. Only recently, we we’re introduced to the
. And now, more rags to riches stories are crawling – nay, tiptoeing – out of the woodwork, it seems that there’s no stopping it. So whether you’re sitting on a pile of wealth and don’t know what to spend it on, or have arrived late to the party and are wondering what good investing in virtual money will do you in the real world, we’ve drawn up a list to answer all your questions. Here’s what you can buy with Bitcoin.
Bitcoin price in India is ₹9 lakh: So what you can buy with Bitcoin in India… directly
The Reserve Bank of India (RBI) may have asked citizens to beware of Bitcoin on December 5, but it doesn’t seem to have stopped people from buying. And it’s not just nerds crouching behind screens in the dark that are interested in it. According to Amit Bhardwaj, co-founder of Bitcoin mining pool GBMiners, the cryptocurrency is about to become the favourite of investors in India. He was quoted by Bitcoin Rate In Inr In 2010
as saying, “Over 500 merchants have started accepting bitcoins in India. And trading volumes are growing rapidly on the major Indian exchanges.” Bitcoin Rate In Inr In 2010
Bhardwaj’s estimate of 500 notwithstanding, we did find that UnoCoin, which describes itself as India’s leading Bitcoin company, certainly has 12 merchants listed on its site. UnoCoin is a cryptocurrency startup which was founded in Tumakuru, Karnataka in 2013 and it acts as an online wallet of sorts by letting you buy, sell, store and accept (if you should be so lucky) Bitcoin. Now, thanks to UnoCoin, you can also spend the currency on more than just the dark web.
Of course, if you’ve already bought some only a month ago on the first day of November, when the currency stood at ₹4.55 lakh, and are now looking at an extra odd ₹5 lakh in your wallet, we’re sure the spending bug would have bitten you. So take a look at all the stuff you can do using your newfound purchase power.
Using your Bitcoin you can travel anywhere in India by booking yourself a ticket on India’a largest bus inventory, eTravelSmart. Or if international travel is on your mind, you can book a vacation on FlightShop that describes itself as ‘a niche travel consultancy’.
The website of Dharwad International School in Karnataka says it accepts fees in Bitcoin. The school follows the CBSE board and offers boarding facilities as well. (Yes, there really is a school that accepts Bitcoin. This is not a drill).
SapnaOnline is India’s fastest growing online retailer in India. With a catalogue of over 10 million books and a stock of 10,000 electronics and gadgets at last count, SapnaOnline.com is that online retail store you’ve never heard of. Sure it may not be as slick as some of the other sites you usually visit but thanks to UnoCoin’s tie-up with the retailer, you can buy anything you want on the website.
This should come as a surprise to no one that more than a couple of tech companies have signed up with UnoCoin, willing to accept cryptocurrency in exchange of their services. These include IndSoft and Cyberls (hosting platforms) and TecDoc (a software firm).
But apart from UnoCoin’s tie-ups Bitcoin Rate In Inr In 2010 , you can also snag some pretty cool goodies directly from CyanKart.com. The lifestyle website features clothing and accessories for men and women, along with quirky phone cases and home decor items that would appeal to millennials sensibilities.
And if you happen to be in Bengaluru, which is fast emerging as the centre of Bitcoin-related activity in India, you’re in luck. If you stroll down one of the city’s poshest neighbourhood, Indiranagar, you’ll come across a small restaurant called Suryawanshi. Specialising in Maharashtrian cuisine, the restaurant garnered much attention on Twitter after a user alerted the Twitterverse of the fact that you can pay here for your food with Bitcoin. In fact, the restaurant has been accepting the cryptocurrency for a year now, before the Bitcoin boom began.
What you can buy with Bitcoin in India… indirectly
The answer to that is: Anything. Well, almost. You can buy most consumer goods and avail of some valuable services using Nafa.in. Nafa is a gift card store that allows users to purchase coupon-like cards from a range of brands across electronics, men’s apparel, travel and entertainment. You can choose from sellers such as PVR, PizzaHut, Nike, Fastrack, Raymond, Talwalkar’s and Hard Rock Cage (among others). So, in theory, all you need to do is buy yourself a gift card every time you need to purchase something from these stores. However, be warned, you will be asked to register yourself and the company holds the right to limit or cancel any purchases made – as specified in policy online.
So from spa dates to your own personal website, Bitcoin can buy you a lot in India. If you have enough of it, that is. As for the bigger buys you’d like to go for, they’ll have to wait. For now.
Bitcoin: If you had invested ₹386 in bitcoin in 2010 this is how rich you would be Bitcoin Rate In Inr In 2010
Move over Bitcoin, Bitcoin Rate In Inr In 2010
0 Reviews:
Post Your Review