Unocoin Launches Its First Bitcoin [BTC] ATM For India.

Unocoin Launches Its First Bitcoin [BTC] ATM For India.

2018-10-14 | Selina Mathew

Unocoin Launches Its First Bitcoin [BTC] ATM For India.

The crypto fever has grabbed curious investors of India investors who have flocked to many native and foreign exchanges to shop for digital coins.

The central bank of India RBI [Reserve Bank of India] took action on the unregulated assets and effectively dried up banking resources for crypto exchanges. However, the market has continuing to flourish despite these setbacks. Currently one of the exchanges in India is planning to launch India’s first crypto ATM.

India’s First Crypto ATM To Be Installed In Delhi

The placement of the machines is presently within the development section, claims Unocoin founder Sathvik Vishwanath. The ATMs is possibly expected to be placed in malls wherever there's adequate infrastructure to run them. the precise locations where these machines would be available in the market presently has not been determined.

However, the primary machine is placed at 147 MG Road in Delhi. The images of this ATM have already been uploaded on Twitter. The image shows 5 crypto logos, together with Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], and Ripple [XRP]. The ATM solely is available to Unocoin customers. It'll not settle for debit or credit cards from users.

Details concerning the ATM would be disclosed within the upcoming next week. Vishwanath spoke to Inc42 concerning the event and commented:

“The placement of the ATM is within the development section. It might take some time before we unharness details through official statement — once we've all the items of it operating along.”

Important Project For Unocoin

The company however didn’t provided a lot more details concerning the ATM, however earlier in Jan., it published a web blog on ‘Medium’ concerning ‘How the machine works’. Within the article, Unocoin explained the operating of the machine in detail. In line with CoinATMRadar, around 3,879 cryptocurrency ATMs are presently operational in seventy six countries, and 99.9% of the ATMs providing support for Bitcoin [BTC].

Unocoin was launched earlier in 2013 and presently has over 1.2 Mln customers based mostly in India. Its crypto commerce platform, Unodax, supports four coins and more than sixty crypto-to-crypto commerce pairs. Recently, the exchange launched support for TrueUSD, a stablecoin that's pegged 1:1 to USD.

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