Bhairav Kunda shiva mandir has two significances. Its one of the most widely visited and valued mandir of shiva amongst 108 shiv mandir spreaded all over the globe. First its related to lord shiva n devi Sati n second is its a place where Bhairavnath visted n meditated for while. Bhairavnath is a fierce manifestation of shivaji only. Since he visited later.....ppl named the mandir as Bhairavkunda. Here kunda means pond...which was created astonishingly below present mandir which isnt existing anymore there. Since then ppl started to call it as Bhairavkunda mandir. There is no harm in calling this mandir as Daifam Shiva mandir after all shiva n Bhairavnath is a single soul. Tinali derived this name from here much later.
-NaSri Khadka