Can Bitcoin become another payment method option in India?
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I recently purchased Bitcoin, and I'm interested in its potential acceptance as a payment method in India. Many countries have adopted bitcoin for transactions, so is it legal to use bitcoin for payments in India? Are there any Indian companies or e-commerce sites that accept payments in bitcoin? If so, then what difficulties might develop in applying bitcoin as a payment method?
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Bitcoin is legal in India, but the government of India has yet to recognize it as an official payment method. The present law does not support their usage for daily transactions. More than as a payment option, people use Bitcoin for investment purposes. But it is uncertain whether the government will acknowledge bitcoin as a payment option in the future or not.