Despite the Reserve Bank’s call for caution to people against the use of virtual currencies, a domestic Bitcoin exchange today said it is adding over 2,500 users a day and has reached five lakh downloads. Zebpay, an app-absed Bitcoin exchange, said it has had five lakh downloads on the Android operating system and is adding more than 2,500 users every day. “Any user, holder, investor or trader dealing with virtual currencies is doing it at their own risk,” the RBI had cautioned on its website in February this year. RBI has been repeatedly flagging concerns on virtual currencies like Bitcoins, stating that they pose potential financial, legal, customer protection and security-related risks. And finally, the usage of VCs for illicit and illegal activities has been reported as uncomfortably large,” Gandhi had said.

Source: Hindustan Times May 17, 2017 12:45 UTC