To say that the average man's interest in cryptocurrency is growing by the day would be an understatement. This holds true even for countries like India, where cryptocurrency trade is yet to be regulated. The confidence in the capabilities of cryptocurrencies among traders was emboldened by the Supreme Court decision taken last year to reverse a Reserve Bank of India (RBI) order, thereby allowing trade in cryptocurrency assets. Further proof of India warming up to the idea of cryptocurrency lies in the fact that several companies have begun to accept it as a recognised mode of transaction. From the food and beverages industry to home decor, cryptocurrencies like Bitcoin and Ethereum have crept into mainstream transactions, albeit in a small way.
If you are a cryptocurrency investor in India, here is a list of companies that can help you spend your currency.
Imagine finishing off a sumptuous Kolhapuri thali only to find that you have forgotten to carry your cash or card. Well, if you are a Bitcoin investor, you will have no problem paying the bill at the Suryawanshi restaurants in Bengaluru's Indiranagar and Whitefield. Along with traditional payment modes such as cash, card, and payment apps, Bitcoin is accepted at the eatery. Bitcoin price in India stood at Rs. 34.74 lakhs as of 5:30pm IST on August 10.
You may have warmed up to the idea of cryptocurrency, but if your friends and family still swear by the traditional modes of payment, Cryptocurrency exchange Unocoin is the place for you. The company is now providing Bitcoin owners with an option of buying gift vouchers from a list of 90 brands. Starting from Rs. 100 to Rs. 5,000, a registered Unocoin user can use Bitcoin to buy vouchers for travel, restaurants, lifestyle, clothing, accessories, hotels, and more. All you have to do is be a KYC-verified customer with Bitcoin in your digital wallet.
HighKart, an online e-commerce store founded in 2013, also accepts Bitcoin payments for the purchase of products on its site. The platform allows you to purchase mobiles, cameras, clothes, electronics, computers, and other electronic items.
From books to personal hygiene goods, Sapna is an online platform that allows you to buy items using Bitcoins, enabled by the Unocoin cryptocurrency exchange. The platform allows you to buy products from any part of India and have them shipped to your doorstep.
Bitrefill is a platform that claims to “allow anyone to live on cryptocurrency more easily.” And the several Indian companies featured on the platform point to the fact that as a cryptocurrency owner, your options have opened up. Fancy a coffee? Well, you can use your Bitcoin to buy a gift voucher for a drink at Café Coffee Day. With companies like cosmetics brand Nykaa and jewellery brand Tanishq allowing you to purchase gift cards for their products, the platform can be a one-stop shop for all your needs. The website says that the cryptocurrencies like Bitcoin, Dash, Dogecoin, Ethereum, and Tether are accepted.
As an online store that sells electronic goods, Purse accepts Bitcoin cash. In addition to payment, the platform also allows you to convert Bitcoin into gift cards.
The Rug Republic
The Rug Republic is a Delhi-based decor brand that accepts not just Bitcoin but the top 20 cryptocurrencies as per market capitalization for its products. Though the brand is leaning on platforms like WazirX and Binance to facilitate transactions, it says it is looking forward to developing an in-house payment system.