HighKart to expand Bitcoin etailer business to India

Tuesday 11 March 2014 00:51 CET | News

HighKart, an Indian online ecommerce website, has added Bitcoin as a payment method.

As of now, there are more than 500 ecommerce startups in India. The majority of the startups has popped up within the last five years. HighKart detours its focus from consumers who trust in fiat currencies to embracing the Bitcoin crypto-currency. However, HighKart’s model relies on rejecting fiat currencies in order to turn over profits.

Currency exchanges are the most popular Bitcoin-based business right now. Still, Maninder Gulati, Vice President at Bitcoin startup investment company Lightspeed Ventures, claims that both ecommerce and exchanges are not practical solutions for the Indian Bitcoin ecosystem at the moment. He delves into the problem by stating that ecommerce retailers do not comply with the real problems of the crypto-currency business which take into account dealing with liquidity, awareness, convenience, and security.

HighKart retails more than 150 products, ranging from digital currency mining equipment to fashion accessories.

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Keywords: HighKart, India, ecommerce, Bitcoin, payment method, ecommerce, Lightspeed Ventures
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce