The Rapid Growth of Zebpay
Zebpay is not just another Bitcoin exchange; it’s like that new phone everyone suddenly seems to have. Adding an impressive 200,000 new users monthly, they’re gunning for the big leagues with aspirations of hitting half a million by the year’s end. How’s that for a goal? Talk about setting the bar high!
A Crazy Market Transformation
In a candid chat with Forbes India, Zeb Ventures CEO and co-founder Saurabh Agrawal reflected on the “crazy” transformation the Bitcoin market has undergone. “When we started Zebpay, we had no idea the price would shoot up,” he admits. The man wasn’t aiming for a moonshot; rather, he was focused on establishing a solid business model. Spoiler alert: it looks like that model is paying off big time!
Milestones and Downloads
By September, Zebpay celebrated a remarkable milestone with over 1 million downloads of its mobile app, having just hit 500,000 downloads merely three months prior in May. It’s not too shabby for a platform that only operates through an app. Who needs a fancy website when you have that many downloads?
Bitcoin’s Appeal Amid Currency Shake-ups
As India grapples with currency shake-ups and ongoing banking chaos, the interest in Bitcoin shows no signs of slowing down. Fellow co-founder Mahin Goenka noted, “We are adding 2 lakh users a month,” which he anticipates will increase to 5 lakh in just a couple of months. The Bitcoin craze is indeed infectious!
The Growing Competition
But it’s not just Zebpay on the rise. Other platforms, like p2p Localbitcoins, have been shaking things up too. The week ending October 21 marked the fifth busiest for them since launch, with an impressive ₹54.1 million (roughly $834,000) transacted. The competition in this space is getting as heated as your morning coffee!
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