HighKart.com might one of the newest e-commerce platforms in India, but it is surely one of the most innovative. The retailer is now the country’s first online business to accept Bitcoin as the only payment option for their products.
The company was established in December 2013 by its current CEO, Amit Kumar, and plans to make all online purchases easier and safer by using digital money. “With Bitcoin the number of benefits associated are many, including very low or not existing transaction fees”, Kumar recently told DNAIndia.com.
HighKart.com’s CEO discovered Bitcoin in the beginning of 2013 and has been interested in the cryptocurrency ever since. “By profession I am a technocrat and by passion I am an adamant entrepreneur. With these qualities in my background it became very necessary for me to look at the ever evolving cryptocurrency business model and taking it forward along with community support”, he added during the interview.
The e-commerce platform, which is managed by a small team of 15 workers, will convert the received BTC to fiat currency for now, “which reduces any kind of risk involved due to volatility of Bitcoin”, according to Kumar. It is currently possible to find almost everything at HighKart.com, from electronics to clothing, as well as cryptocurrency mining hardware.
However, the bigger plan is to bring Bitcoin into the mainstream: “there is no need to look it at as a barrier as with technology up-gradation, advancement and acceptability it will have a much larger user base than usual payment systems. We are working very hard and with great community support”.
Images from HighKart.com