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Here's why ZebPay founder is excited about the upcoming digital rupee

<ul><li>The <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> has banned regulated institutions from dealing with crypto exchanges.</li><li>The <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>'s decision will come into effect in three months from now.</li><li>The move could effectively ban cryptocurrency in India.</li></ul>When online poker first flourished in India, many players couldn't transfer money from their poker accounts to their bank accounts. This, basically meant that win or lose, they could make no liquid cash from playing Poker online. The solution? Players decided to transfer the money amongst themselves within the poker sites. So, if you transferred $300 to my account on website A, I could transfer $300 from my bank to yours. The rationale being, that I was going to put in $300 in my poker account anyway. That can't happen with cryptocurrencies anymore. The RBI today banned regulated institutions from dealing with crypto exchanges. The rule comes into effect three months from now, which is the time these institutions have to get their affairs in order. The move doesn't ban crypto usage in India, but it's almost like a demonetisation of cryptocurrency. Three months hence, you won't be able to perform NEFT, UPI or other transactions with crypto apps and websites, like Unocoin, Zebpay and more. This is two-way, meaning you can neither deposit nor withdraw from such apps and websites. But India also isn't a stranger to cryptocurrency usage. Many have invested in modes like <keyword id="6354947" type="PERSON" weightage="20" keywordseo="bitcoin">Bitcoin</keyword>, Ethereum etc. In fact, a Bitcoin <a href="https://www.businesstoday.in/current/corporate/cryptocurrency-guru-arrested-for-bitcoin-ponzi-schemes-scam-could-run-into-rs-13000-crore/story/274255.html" data-type="tilCustomLink">entrepreneur</a> was recently arrested for scamming investors out of ₹2000 crore (just over $30 million). Will they just lose all these investments? Well, they obviously have three months to transfer these earnings to banks, converting them to cash and hence paying tax. Or, crypto exchanges could just start considering cold hard cash. That should work, at least as long as Demonetisation 2 doesn't happen. For best results, when you want your cryptocurrencies to be exchanged for real money, exchanges will have to deliver cash to you. And if you think this is an impossible scenario, there's a case study already available. Human Cash Haulers An <a href="https://www.fastcompany.com/3067778/the-blockchain-is-going-to-save-immigrants-millions-in-remittance-fees">app called Abra</a> employs "human tellers" to transfer money across the world, using the crypto medium. Unlike crypto exchanges, <keyword id="3110208" type="PERSON" weightage="20" keywordseo="Abra">Abra</keyword> operates like a regular e-wallet. Users load cash onto their wallets, which they can transfer to others. Abra, in turn, converts the money to cryptocurrency and uses the blockchain to transfer it across the world, or just a few metres away. The receiver has to find a human teller near him, which can be an individual or business, and take the amount in local currency. Think of them as Crypto Angadias - the traditional Indian community of human couriers from <keyword id="6354766" type="LOCATION" weightage="20" keywordseo="Gujarat">Gujarat</keyword> who haul cash for the diamond and gold industry in the state by operating furtively between Mumbai and Gujarat. It is said that Angadias carry a few hundred crore rupees worth of high-value goods and cash between Mumbai and Gujarat everyday. For a cash-rich country like India, could this be a solution to continue crypto usage within our borders. RBI wants its own cryptocurrency Interestingly, while the government seems keen to ban cryptocurrencies, the RBI doesn't seem to have given up on the idea of floating one of its own. The apex bank has set up a panel to implement India's own fiat cryptocurrency, that's regulated and dispersed by banks. While that may break the core philosophy of crypto modes like Bitcoin, i.e, democratising currencies, it could help reduce the cost of printing bills. It would also be in line with the government's push to promote digital payments in the country. While the RBI's ruling may have effectively banned the use of cryptocurrencies in India, the country doesn't seem ready to give up on it yet.

Crypto Angadias: RBI's crypto ban might incentivise human tellers for cryptocurrency transactions

<keyword id="2761264" type="UNKNOWN" weightage="80" keywordseo="Satoshi-Nakomota">Satoshi Nakomota</keyword> would have never imagined that his <keyword id="6354947" type="UNKNOWN" weightage="80" keywordseo="Bitcoin">Bitcoin</keyword> system would become a global success, but lately they have been generating a lot of interest among users. So, much that today we have a huge list of merchants globally who access bitcoins; as a result, Bitcoin has become one of the most widely used alternative currency with a total market cap of approximately $ 3 billion. We also have a couple of Bitcoins apps such as <keyword id="2761019" type="UNKNOWN" weightage="80" keywordseo="Zebpay">Zebpay</keyword>, who have recently announced the launch of their Bitcoin app in India. 
 
This is the first bitcoin mobile application wallet of the country paving the future of money that intends to make bitcoins accessible to everybody. But what really brought them (company) here in India? 
 
Saurabh Agrawal, JT-CEO, Zebpay says, “Ever since one of our founding partner Mahin, paused the trading of bitcoin through buysellbitcoin.in, he was planning to launch it in a bigger and better way. Considering the penetration of smart phones and mobile commerce, we visualized that an application for the bitcoin currency would be the ideal future of money and thereafter Zebpay was born. We realized the potential that Bitcoin technology had, to bring financial freedom to billions of people in the world. With this vision, we are proud to announce the launch of Zebpay app in India.” 
 
So, now when the app is officially here, Indians can easily buy, store, send &amp; spend bitcoin through their mobile numbers. The Zebpay app has eliminated the intricacies of using bitcoin, as the users need not understand the complex bitcoin addresses, have wallet backups or be apprehensive about losing bitcoins. 
 
(Image: Reuters)

This is what brought Zebpay to India

<ul><li>While no decision has been made yet by the Government to ban Cryptocurrency platforms and their ads yet, if banned in the ongoing winter session in the parliament, it is likely to have a larger impact on India’s advertising sector.</li><li>Here’s a look back at how much Cryptocurrency platforms contributed to ad revenue pie from January to November 2021, as per TAM AdEx.</li></ul>A <a href="http://loksabhadocs.nic.in/bull2mk/2021/23.11.21.pdf">proposed </a>bill in India indicates that the government is mulling over introducing a facilitative framework for the creation of an official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses. This uncertainty has already caused price declines on the local exchanges and crypto advertisers have decided to take it slow until the next hearing. While Union Finance Minister Nirmala Sitharaman had said that no decision has been taken on banning crypto advertisements, there is a new Bill in the making, which implies there will be stringent policies in place. FM Sitharaman further said that the new Bill will take into account the rapidly changing dimensions in the virtual currency space. She had also mentioned that it will be presented to the Cabinet and introduced in the Parliament during the ongoing winter session. Until the next hearing, crypto platforms have either halted or slowed their advertising activities, which is likely to impact advertising revenue collection. As per exclusive data shared by TAM AdEx with Advertising and Media Insider, there was a spike in cryptocurrency-related digital advertisements by 36 times between Jan to Nov 2021. Due to the festive season and IPL 2021, crypto platforms were at their peak during October. The month of Diwali, which was October this year, nearly had a 30% share of the category and it took a dip by 6% in November 2021, whereas on television, there wasn’t a single ad from Crypto platforms in 2020. In 2021, television has seen 33.4 hours of advertising from Crypto platforms. The festive season proved to be bountiful for television too as October had more than 75% share of Crypto platforms, up from 2% in June and 23% in September. More than 85% of cryptocurrency advertisements were on Sports channels, with the rest appearing on News channels, GEC stations, and Movies channels. Cricket was the most popular genre amongst all, with 84% of <keyword id="6376163" type="General" weightage="20" keywordseo="cryptocurrency-advertising" source="Orion">cryptocurrency advertising</keyword> airing in Y 2021. Ad insertions of cryptocurrency grew from 0.01% share in overall Digital advertising during Jan-Nov'20 to 0.27% in Jan-Nov'21, indicating that the competition is getting intense and there’s a wider consumer base for brands to woo now. Simultaneously, the count of advertisers grew fivefold from 15 in Jan-Nov'20 to 59 in Jan-Nov'21 on digital mediums, revealed TAM AdEx. <keyword id="10245463" type="General" weightage="20" keywordseo="CoinSwitch-Kuber" source="Orion">CoinSwitch Kuber</keyword> had the lion’s share of 44% in digital crypto advertising from Jan to Nov, followed by <keyword id="12656736" type="General" weightage="20" keywordseo="coinswitch-co" source="Orion">CoinSwitch.Co</keyword> at 18% and <keyword id="6416838" type="General" weightage="20" keywordseo="coindcx" source="Orion">CoinDCX</keyword> at 18%. <keyword id="6672551" type="General" weightage="20" keywordseo="wazirx" source="Orion">Wazirx</keyword> and Zebpay had 8% and 6% share respectively in digital advertising Between Jan to Oct, CoinSwitch Kuber had the biggest share of 58% on television too, followed by CoinDCX at 36%, Zebpay at 5% and WazirX at 1%. Prime Minister Narendra Modi in the meeting conducted on November 13 had reviewed key issues concerning cryptocurrency. He had discussed misleading, non-transparent advertising practices. It was also discussed that unregulated crypto markets should not become avenues for money laundering and terror financing. In the past few months, we have seen a lot of high decibel campaigns from a lot of crypto players including WazirX, CoinSwitch Kuber, CoinDCX, Zebpay to name a few. Many of the platforms have used prominent faces like Ranveer Singh, Kunaal Kapoor Roy, Vishnu Kaushal to woo young consumers. A lot of people have been speaking about the risks of investing in the currency without fully understanding how the crypto ecosystem works. The government’s move therefore could help bring about more transparency and accountability into the ecosystem.

CoinSwitch Kuber, CoinDCX and WazirX were the top crypto advertisers on digital mediums this year: Report

<ul class="summary-list"><li><keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">Ethereum</keyword> struck a new all-time high above $1,470 on Monday, scoring a 21% gain within 24 hours.</li><li>Its latest record high came on the seventh-year anniversary of the cryptocurrency's launch.</li><li>Analysts expect the <keyword id="10625239" type="UNKNOWN" weightage="60" keywordseo="ethereum-price">Ethereum price</keyword> to rise as high as $3,000 in the next few weeks. </li></ul>The price of <a href="https://markets.businessinsider.com/currencies/eth-usd">Ethereum</a> set a new all-time high, exploding by as much as 21% in 24 hours to trade above $1,470 on Monday.The price hit $1,473, topping its <a href="https://markets.businessinsider.com/currencies/news/ethereum-price-record-high-cryptocurrency-beats-bitcoin-gain-2021-1-1029985246">previous record of $1,439</a> set last week, before settling around $1,396 in early European trading.The record high came on the seven-year anniversary of the day that Vitalik Buterin, a Russian-Canadian best known for being Ethereum's main developer, announced the <a href="https://bitcointalk.org/index.php?topic=428589.msg4683379#msg4683379">cryptocurrency's launch on a bitcoin forum</a> in 2014.The world's second-largest cryptocurrency, with a market cap of $160 billion, has risen on 90% a year-to-date basis, outpacing bitcoin's 10% rise.But Ethereum's rally is expected to match the momentum in bitcoin's. Analysts at Galaxy Trading expect the price to trade as high as <a href="https://twitter.com/GalaxyTraging/status/1353387494285471744">$3,000 in the next few weeks</a>. Comparing bitcoin and Ethereum's rally, the analysts noted a similar pattern of limited price momentum followed by a major breakout.Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-small-companies-value-names-recovery-bofa-2021-1">BANK OF AMERICA: Buy these 31 unheralded stocks as the recovery's hottest trades of recent months continue to gain strength in 2021</a><keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">Ether</keyword> has also been seeing massive trading volumes on ZebPay, India's oldest and most widely-used bitcoin and <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> asset exchange."Ether tends to follow bitcoin," said Rahul Pagidipati, CEO of ZebPay. "Now that Bitcoin has hit record highs and is consolidating, investors are adding ether. Together they constitute about 80% of the total crypto market cap and are the biggest on ZebPay."Another popular cryptocurrency analyst, Lark Davis, expects <a href="https://twitter.com/TheCryptoLark/status/1353509614478712833">Ethereum to double in the next two weeks</a> just "like bitcoin did."Ethereum has gained 1,200% in value since the March 2020 coronavirus-induced market crash, compared with a 700% increase in the value of bitcoin. In 2020, the Ethereum network saw over $1 trillion worth of transactions on its blockchain - exceeding the transaction volumes of payment platforms such as PayPal. Read More: <a href="https://www.businessinsider.com/stock-market-crash-expert-warns-70-percent-drop-sp500-indicator-2021-1" target="_blank" rel="noopener noreferrer">A notorious market bear who called the dot-com bubble says he sees 'fresh deterioration' in the market indicator that first signaled the 1929 and 1987 crashes - and warns that stocks are ripe for a 70% drop</a>

Ethereum explodes 21% in just one day to secure a new all-time high past $1,470 - and analysts expect it to double in the next two weeks

<ul class="summary-list"><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s central bank confirmed on Monday that <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> and exchanges are not banned.</li><li>A three-year-old circular that barred banks from <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> transactions is no longer valid, the RBI said.</li><li>"The new RBI circular clearly confirms the right to do business with crypto firms," crypto exchange ZebPay's co-CEO said.</li></ul>India's central bank clarified on Monday that an old order forbidding financial institutions from supporting cryptocurrency transactions had been struck down by the country's highest court in 2020, allowing investors to breathe a sigh of relief.<a href="https://rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=12103">In a new note</a>, the regulator said banks should not cite its <a href="https://www.rbi.org.in/scripts/FS_Notification.aspx?Id=11243&amp;fn=2&amp;Mode=0p;Mode=0">2018 circular</a> as a reason to disallow trades in digital currencies as it had been "set aside by the Hon'ble Supreme Court" last year."The circular is no longer valid from the date of the Supreme Court judgement, and therefore cannot be cited or quoted from," the note stated.The latest order, addressed to all commercial and co-operative banks, followed local media reports that some financial firms, including the country's largest banks, had advised investors against dealing in digital currencies."It's amazing to see @RBI clarifying &amp; helping solve uncertainty for crypto in India," Nischal Shetty, founder and CEO of Indian crypto exchange founder WazirX, <a href="https://twitter.com/NischalShetty/status/1399579000624713732">said in a tweet</a>. "There are over 1.5 crore Indians in crypto. This news has brought joy and confidence to everyone in the sector."Read More: <a href="https://www.businessinsider.com/crypto-trader-shares-favorite-strategies-bullish-sectors-bitcoin-ether-defi-2021-5" target="_blank" rel="noopener noreferrer">A senior crypto trader at a $500 million digital asset manager shares his favorite trading strategies to generate 'riskless profits' - and the 3 sectors of the nascent market that he is most bullish on</a>Still, the RBI order directs institutions to continue to perform due diligence processes before providing services. "This is positive news for the entire crypto industry - businesses, stakeholders, and investors," Avinash Shekhar, co-CEO of crypto exchange ZebPay, told Insider. "Investing in crypto has always been 100% legal in India and the new RBI circular clearly confirms the right to do business with crypto firms."He added that the RBI's communication about due diligence is a welcome move that could strengthen the relationship with banking and payment gateway partners, and make crypto investments accessible to more Indian investors.The crypto industry in India still awaits further direction from the government in the form of a <a href="https://www.cnbc.com/2021/03/15/india-plans-cryptocurrency-ban-will-penalize-miners-and-traders.html">new law</a> that reportedly address criminal possession, issuance, and crypto mining.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was little changed on Tuesday, trading 1% higher around $36,196. The digital token is up 25% so far this year.

India's central bank confirms cryptocurrencies aren't banned - and says its 2018 order barring banks from crypto transactions is no longer valid

The Supreme Court of India has struck down a ban on banks dealing with cryptocurrencies in India, paving the way for users to start trading with renewed vigour in cryptocurrencies. While there was no ban on cryptocurrencies, the Reserve Bank of India in 2018 put a ban on banks from dealing with virtual currencies like Bitcoin. The central bank also asked banks to exit all existing relationships with cryptocurrency exchanges. Now that this roadblock too <a href="https://www.businessinsider.in/cryptocurrency-trading-can-restart-in-india-after-top-court-removes-rbi-ban-calling-it-unconstitutional/articleshow/74470872.cms">has been cleared</a>, here is how you can gain from the move. What is a cryptocurrency? Cryptocurrency is a virtual currency that can be exchanged online for goods and services. Cryptography is used to secure and verify the transactions. Unlike traditional currencies, cryptocurrencies are not issued by a central bank and depend on a peer-to-peer system. How to open a <keyword id="8871185" type="UNKNOWN" weightage="20" keywordseo="crypto-trading-account">crypto trading account</keyword> in India? There are several cryptocurrency exchanges from where you can buy and sell cryptocurrencies like Zebpay, Unocoin, Coinmama and more. Today, we will show you how to use Zebpay to buy and sell cryptocurrencies in India. Zebpay allows you to purchase various virtual currencies and store them. How to use Zebpay to buy and sell cryptocurrency <div type="image" title="Zebpay" msid="74490879" hostid="261"></div>

 <ul><li>Download and install the Zebpay app for <a href="https://play.google.com/store/apps/details?id=zebpay.Application">Android</a> and <a href="https://apps.apple.com/in/app/zebpay-bitcoin-wallet/id944854686">iOS</a>. </li><li>Open the app and click on ‘Let’s go’ at the top. </li><li>Enter your phone number and click on ‘Proceed securely’. </li><li>Now, click on ‘Continue to Set Account PIN’.</li></ul> <div type="image" title="Zebpay" msid="74490890" hostid="261"></div>

 <ul><li>Now, enter a four-digit PIN. </li><li>Re-enter the four-digit PIN. </li><li>Once you have set the PIN, you can opt to use the fingerprint sensor. </li></ul><div type="image" title="Zebpay" msid="74490905" hostid="261"></div>

 <ul><li>Now, click on ‘Verify Email Address’. </li><li>Enter your name and email address. </li><li>Go to your mail and verify your account.</li></ul> <div type="image" title="Zebpay" msid="74490918" hostid="261"></div>

 Now you will be asked to provide your ID proof and address proof. <ul><li>Click on ‘Continue’. </li><li>For ID proof, you can submit your PAN card. </li><li>Upload the front of your PAN card and click on ‘Continue. </li></ul> <div type="image" title="Zebpay" msid="74490925" hostid="261"></div>

 <ul><li>For address proof, you can submit your Aadhaar card, driving license, passport or a utility bill dated within the last three months. </li><li>Select an address proof and upload it. </li><li>Click on ‘Continue’. </li><li>Now, select your source of funds and occupation. </li><li>Then, click on ‘Continue’. </li></ul>Once your KYC details are verified, you can start trading in cryptocurrency. <div type="image" title="Zebpay" msid="74490953" hostid="261"></div>

 Here are the cryptocurrencies available on Zebpay. <div type="image" title="Zebpay" msid="74490930" hostid="261"></div>
 You can select from the available currencies, enter the amount and click on ‘Buy’. See also: <a href="https://www.businessinsider.in/cryptocurrency-trading-can-restart-in-india-after-top-court-removes-rbi-ban-calling-it-unconstitutional/articleshow/74470872.cms">Cryptocurrency trading can restart in India after top court removes RBI ban calling it 'unconstitutional'</a> <a href="https://www.businessinsider.in/business/startups/news/crypto-community-in-india-is-rejoicing-exchanges-are-ready-to-reopen/articleshow/74472080.cms">Crypto community in India is rejoicing ⁠— exchanges are ready to reopen</a> <a href="https://www.businessinsider.in/business/news/indias-crypto-market-was-worth-12-9-billion-in-2017-before-it-incurred-the-rbis-wrath/articleshow/74474034.cms">India’s crypto market was worth $12.9 billion in 2017 before it incurred the RBI's wrath</a>

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Here's why ZebPay founder is excited about the upcoming digital rupee

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CoinSwitch Kuber, CoinDCX and WazirX were the top crypto advertisers on digital mediums this year: Report

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Ethereum explodes 21% in just one day to secure a new all-time high past $1,470 - and analysts expect it to double in the next two weeks

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India's central bank confirms cryptocurrencies aren't banned - and says its 2018 order barring banks from crypto transactions is no longer valid

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