Unocoin: Coining the Bitcoin Concept in India

BUY– Start buying and selling bitcoin through your bank account.
USE– Store your bitcoin securely in your Unocoin wallet or vault.
ACCEPT– Accept bitcoin from your friends and customers around the world.

It was in the year 2008 when Bitcoin was frst introduced to the world, setting a course for an era of decentralized digital currency, free of global economic influences and political power play. However, it was only in 2013 that Unocoin founders set to establish a robust Bitcoin centred ecosystem in India. The Bengaluru-based startup began with the basic trading platform offering ‘buy’, ‘sell’ and ‘store’ features for Bitcoin with just 5 customers, and grew phenomenally to cultivate over 100,000 customers and a network of over 1200 merchants in less than 3 years! Today, Unocoin offers one-stop solutions for all Bitcoin related activities, offering its customers a strong and reliable Bitcoin infrastructure in India.

INNOVATION IS THE KEY

“We have come a far way from being a simple Bitcoin trading platform to become the first Bitcoin Company to launch the concept of SIP (Systematic Investment Plan) in Bitcoin,” shares Sathvik Vishwanath, Co-Founder and CEO, Unocoin. Pioneers in creating mass awareness and bursting myths about Bitcoin in India, Unocoin has added many more feathers in its cap. From building the world’s simplest Bitcoin PoS app for offline businesses, to creating a unique mobile trading app to enable traders transact while on the go, Unocoin keeps adding valuable services to give its clients an enhanced Bitcoin experience. Abhinand Kaseti, Co-Founder and CMO, Unocoin explains, “Innovation has always been the key guiding factor at Unocoin. We continually create solutions and services to give our clients seamless access to the Bitcoin ecosystem. Unocoin today offers many unique services such as a special merchant gateway for businesses accepting Bitcoin at zero transaction fees, and the OTC (Over the Counter) platform, which allows bulk Bitcoin trading.” Unocoin has also developed the ‘Netki’ feature that lets users to have personalized Bitcoin addresses and cold storage facility. Highlighting the key benefits of dealing in Bitcoin such as transparency, privacy and security, Harish B V, CoFounder, Chief Financial and Compliance Officer at Unocoin adds, “The key driving force behind Bitcoin is the transparency in transaction that it offers. At Unocoin, we have made our robust API available to general public. Also, the Unocoin platform is self regulated and KYC/AML compliant.”

THE ROAD AHEAD
In the current times when monetary policies are leading to currency devaluations and inconveniences caused by demonetization of certain denominations, decentralized digital currency appears to be a logical alternative. “In fact, even RBI as well as other monetary agencies across the world are exploring the potential of Bitcoin blockchain, as it answers the many pitfalls of traditional currency markets,” adds Harish. In the coming years, Unocoin plans to continue creating new and innovative products, expand internal capabilities, and reach out to new markets in India and abroad. Starting with a seed funding of US $ 250,000 from Barry Silbert, founder of DCG based in NYC, Unocoin has recently raised US $ 1.5 million in its Pre Series A round (led by Blume Ventures), which is the highest investment for a Bitcoin Company in India. “With Bitcoin, there are endless possibilities for everyone. Each month, we are witnessing an increase of over 20% in the Unocoin customer base,” reveals Abhinand, “we are certain that the inclusion of Indians in the Bitcoin ecosystem is bound to increase manifolds in coming years,” he adds.
With a bouquet of innovative services, a dynamic and highly skilled team, and the vision of its founders, Unocoin is truly on the course to become the largest Bitcoin platform not only in India, but also globally.