Unocoin bitcoin

The timing could not have been more perfect for Sathvik, who had started attending several cryptocurrency meetups to learn more about using digital currencies and converting them at cheaper rates. He realised that crypto was an effective and easy way of converting his Linden dollars , too. One of the advantages of being the first movers in this space was that Sathvik could define what such a platform needed.

There were several rules and policies that the Unocoin team instituted and started following on their own accord.

India’s leading bitcoin app

By , four years since its genesis, the platform had started seeing nearly 2, transactions daily, with equal numbers of bitcoins sold and bought every day. It had over 3.

The next few iterations of the product saw it offering customers a systematic buying plan to let users hedge their risks, and invest gradually over a stipulated period of time. By the end of , bitcoin and other cryptocurrencies had started hitting daily record highs. For Unocoin though, things started going downhill from October India had taken a hard-line stance against the unregulated crypto space , and tried to squash all trading operations. By then, the startup had already inked deals with close to 45 banks and had started allowing users to recharge their BookMyShow wallets, phones, or DTH boxes using cryptocurrencies.

While Sathvik says he cannot talk about the case, he acknowledges that compared to , people now are becoming a lot more open to cryptocurrencies. However, many bitcoin startup founders believe that this mode of payment can bring in better transparency. After being engaged in a legal battle for 22 months with the RBI , the IAMAI was finally able to win a case in March this year, which allowed Unocoin to start providing bank deposit and withdrawal services to its customers.

The platform has over 13 lakh users, out of which at least three lakh are KYC-verified customers. The company said its turnover runs in hundreds of crores, year on year, and it has been praised for bringing blockchain to its critical mass by following self-regulated standards. Some of the other startups in the space include Koinex and few others. In Depth.

India's first crypto-exchange Unocoin raises $5m Series A round

By Sindhu Kashyaap 16th Jun Sathvik Vishwanath set up Unocoin in when crypto assets were just starting to create a buzz. The idea for his startup stemmed from Second Life, his online game involving virtual pets and farm animals. Share on. It expresses the views and opinions of the author.

GitHub - blockchain/bitcoin-unocoin-client

Notable developments in the pipeline include expansion into Decentralised Finance DeFi with its own protocols and the implementation of a new AI-based chatbot system to improve customer support. Customer growth rates have surged by more than 10X in the month the supreme court verdict was announced, accompanied by a 5X increase in trading volume in subsequent months.

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We will double down on our efforts to improve our product features and offerings, which will enhance the overall usability and functionality for our customers. We are so thrilled that the stars aligned and we could finally back Unocoin.

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Every Indian should have a Bitcoin account with Unocoin. Comments: 0. Join the discussion. The Future of Cloud downloads. Corporate Onboarding: Will it become a competitive differentiator for banks in a real time world?

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Unocoin bitcoin
Unocoin bitcoin
Unocoin bitcoin
Unocoin bitcoin
Unocoin bitcoin