1. Demonetisation effect: Tech startup Unocoin launches mobile app to buy & sell Bitcoin on the go

Demonetisation effect: Tech startup Unocoin launches mobile app to buy & sell Bitcoin on the go

The mobile app allows users to buy, sell, send, and receive Bitcoin on the go

By: | Updated: November 28, 2016 6:37 PM
With the rise of smartphone, use of internet on mobile and government push for cashless payments, Unocoin expects the demand for bitcoin to go up in India. (Reuters) With the rise of smartphone, use of internet on mobile and government push for cashless payments, Unocoin expects the demand for bitcoin to go up in India. (Reuters)

Amidst surge in digital transaction after Prime Minister Narendra Modi demonetisation drive, Bangalore based technology startup Unocoin which deals in bitcoin, has launched mobile app for both iOS and Android devices to help consumers buy, sell, send, receive and store bitcoin all in one place, from any remote device.

With the rise of smartphone, use of internet on mobile and government push for cashless payments, Unocoin expects the demand for bitcoin to go up in India. The company officials said that with large number of people using their phone for accessing the Internet, going forward people would look for more convenient way to access and manage their digital currency portfolio.

The company, whose mission is to “Bring Bitcoin to Billions,” has included almost all the features of its online portal into its newly launched mobile app. The app includes buy and sell pairing for BTC/INR, mobile/DTH (Direct to Home Satellite Program) recharge, SIP (Systematic Investment Plan) access.

About six months ago, the company had released its POS (Point of Sale) app to enable physical stores to accept bitcoin as a mode of payment.

Unocoin which was started in 2013, is one of India’s first entrant into the bitcoin industry. The company operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin. Unocoin claims to processes transactions worth more than Rs 200 million for its over 110,000 customers every month.

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