“Move over Dalal Street, Generation Y is more interested in Bitcoin trading. A quick glance at a Bitcoin portal like localbit.com, which brings together local buyers and sellers, shows that Mumbai is very active on the scene. ‘Mining of Bitcoins continues to be predominant in tech cities like Bangalore or Hyderabad, but Mumbai is fast catching up,’ says a city-based Bitcoin trader. He admits to making cash profits of several thousand during the last few months on sale of Bitcoins. A large portion of the trade happens through online exchanges and funds flow from the buyer to seller via proper banking channels.”
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