{"id":3463,"date":"2018-01-19T07:17:54","date_gmt":"2018-01-19T07:17:54","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=3463"},"modified":"2018-01-19T10:03:20","modified_gmt":"2018-01-19T10:03:20","slug":"india-accounts-10-global-bitcoin-transactions","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/india-accounts-10-global-bitcoin-transactions\/","title":{"rendered":"India Accounts For 10% Of Global Bitcoin Transactions"},"content":{"rendered":"

\"\"Despite the Indian government\u2019s tough stance against crypto currencies, the country accounts for nearly 10% of total Bitcoin trading volume across the globe. That was based on a study conducted by Pundi X<\/a>, an Indonesian firm, and reported by Quartz<\/a>. Constantin Papadimitriou, Pundi X\u2019s president has revealed to Quartz that it surveyed 3,000 respondents across India, Indonesia, Japan, Russia, the US and the UK.<\/p>\n

The government of India\u2019s hostility towards Bitcoin is well known. Finance minister Arun Jaitley had mentioned that Bitcoin is not a legal tender<\/a> in India. In fact, he even went to the extent of calling Bitcoin a Ponzi scheme<\/a>. Even the Reserve Bank of India<\/a> has asked the country\u2019s citizens to stay away from crypto currency trading and investing.<\/p>\n

Even though Bitcoin is immensely popular, Indians only act as investors to gain short-term profits, as there are hardly any places where it can be used for payment. In addition to Bitcoin, Ripple and Ethereum are popular among the Indian population. A few years before, restaurants and gift shops were accepting Bitcoin as payment. However, the rigid behavior of authorities has resulted in the cancellation of Bitcoin as a payment option.<\/p>\n

Pundi X is currently expanding its business<\/a> worldwide. However, it has shelved its plans to enter the Indian market. The company will commence its ICO from January 21to 31. Following the ICO, Pundi X will launch its point-of-sale terminal for Bitcoin and other crypto currencies in Indonesia, Brazil, Singapore, and Africa. The company still has plans to enter India, provided the situation becomes conducive.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the Indian government\u2019s tough stance against crypto currencies, the country accounts for nearly 10% of total Bitcoin trading volume across the globe. That was based on a study conducted by Pundi X, an Indonesian firm, and reported by Quartz. Constantin Papadimitriou, Pundi X\u2019s president has revealed to Quartz that it surveyed 3,000 respondents across […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68,70],"tags":[],"class_list":["post-3463","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency","category-ethereum"],"yoast_head":"\nIndia Accounts For 10% Of Global Bitcoin Transactions<\/title>\n<meta name=\"description\" content=\"Despite the Indian government\u2019s hostility towards crypto currencies, the Indian traders account for nearly 10% of global Bitcoin transactions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/india-accounts-10-global-bitcoin-transactions\/\" 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