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 hascontinuingto flourish despite these setbacks.Currentlyone ofthe exchanges in Indiaisplanning tolaunch India’sfirstcrypto ATM.
India’s First Crypto ATM To Be Installed In Delhi
The placement of the machines ispresentlywithin thedevelopmentsection, claims Unocoin founder Sathvik Vishwanath. The ATMsispossibly expectedto be placed in mallswhereverthere’sadequate infrastructure to run them.the preciselocationswherethese machineswould be availablein the marketpresently has not been determined.
However,the primarymachine is placed at 147 MG Road inDelhi.The imagesof this ATM have already beenuploadedon Twitter.The imageshows5crypto logos,together with Bitcoin [BTC], Ethereum [ETH], BitcoinCash [BCH], Litecoin [LTC], and Ripple [XRP]. The ATMsolely is availableto Unocoin customers.It’llnotsettle fordebit or credit cards from users.
Detailsconcerningthe ATMwould bedisclosedwithin the upcoming next week. Vishwanath spoke to Inc42concerningthe eventand commented:
“The placement of the ATM iswithin thedevelopmentsection.It mighttake some time before weunharnessdetails through official statement — oncewe’veall theitemsof itoperatingalong.”
Important Project For Unocoin
The companyhowever didn’t provideda lot moredetailsconcerningthe ATM,howeverearlier in Jan., itpublishedaweb blogon ‘Medium’concerning‘Howthe machine works’.Within thearticle, Unocoin explained theoperatingof the machine in detail.In line withCoinATMRadar, around 3,879 cryptocurrency ATMsarepresentlyoperational inseventy sixcountries, and 99.9%of the ATMsprovidingsupport for Bitcoin [BTC].
Unocoin was launched earlier in 2013 andpresentlyhas over1.2 Mln customersbased mostlyinIndia. Its cryptocommerceplatform, Unodax, supports four coins andmorethan sixtycrypto-to-cryptocommerce pairs. Recently, the exchange launched support for TrueUSD, a stablecointhat’spegged 1:1 to USD.