Is Unocoin Bringing Bitcoin ATM To India?
Unocoin seems to be working on bringing us Bitcoin to FIAT currency ATM to India. It seems to be a recent effort on part of the Bangalore based cryptocurrency exchange in India. Seems like they are pushing for innovation in the country despite all the restrictions.
This image was supposedly shot in Bangalore where Unocoin will supposedly roll out its first ATM. I'm not entirely sure what they had to do in order to get the permits for this but let's leave that for later.
I suspect the card will be a Visa enabled card that will allow you to withdraw BTC to INR and also load it for online and offline-retail store shopping.
However, if any of this turns out to be true we're likely to see their systems operational by end of the month. But given the ban on banking services I'm unsure how Unocoin will get the cash to load these machines.
Seems like they will support a few cryptocurrencies such as BTC, XRP, ETH, BCH and LTC at the very least. So it might be some kind of multi-currency crypto-fiat Visa Card!
After Zebpay shutdown it's probably taken over as the biggest cryptocurrency exchanges in India operating from Bangalore. However, since Unocoin doesn't have any BTC/INR pairs currently after the banking ban so that changes their status as the biggest cryptocurrency exchange in India for sure.
Nevertheless all of this seems very exciting to me to say the least. So, stay tuned for more updates!
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This would be an interesting move in the India's blockchain space. Thanks a lot @firepower for constantly bringing the latest news about Blockchain and Crypto for us Steemians especially from India. This is indeed a crazy move by Unocoin. Would love to get my hands on this ATM. ;)
I look forward to trying it but I reckon Unocoin will try selling me cryptos at a ridiculous price! :(
Great news!
I was not aware of Unocoin's plans for crypto to fiat conversion through this machine. ...I still doubt it. But if it comes true, this will be the first machine to do this in India.
Otherwise, the credit for installing first Bitcoin Teller Machine in India goes to Digital Assets LLP that installed it in Delhi some 5 months back. But this machine can only convert Fiat to Crypto and not vice-versa. And it works with BTC, BCH & ETH only.
Since Digital Assets said that Unocoin is putting this machine after discussion with them, I assumed that it would also be fiat to crypto only. But who knows, good times are coming!
Fingers crossed
Yes. I am aware of the Delhi machine and my expectations are the same as yours. However, only time will tell if Unocoin will be successful or not.
@firepower, Yes, specially yesterday this news was highlighting one because many went on to tweeter and approached Unocoin to know the truth and in response answer is, this picture is absolutely true, but in my opinion it's not clear how everything will going to work.
And yes, after Zebpay now UNOCOIN is number one Indian Cryptocurrency Exchange. And in this rough phase if UNOCOIN is coming up with something like this and if it will work then in my opinion it's an boost. And why i am calling it an boost because, when one service establish into the market, inturn many get the Inspiration and they also start it and this will going to give the boost to Crypto Enthusiasts.
Now i am waiting how everything will move because, personally i use the Services of UNOCOIN and they are up to the mark with their work so, i am hoping that they will going to come up with something unique.
Wishing you an great day and stay blessed. 🙂
Either of them remain numero uno on paper for now. They haven't adapted and thus have no real business currently. Let's hope they are able to turn around. I've a new update regarding Zebpay here
Yes, i am on that post only, while reading I've received the notification of your comment. Have a great time ahead. 🙂
haha! That's a good timing. What app are you using? :)
Ha ha. It's Partiko. 🙂
I didn't see the Partiko signature and hence was wondering.
Posted using Partiko Android
Yes, that is because, as soon as i receive any Partiko Notifications, then i access Steemit or Busy because genuinely speaking Partiko is really awesome but i really don't like "Posted using Partiko Android" in every comment.
Yeah me neither. I'm probably going to use another app to reply. Maybe @esteem-app v2 when it's out and working perfectly.
Wow,its so exited.If this will possible ,every thing will be all right too.Besides being banking ban,this exchange wants to bring this revolution in india,heads off to their bravery and great efforts.Thanks for sharing such a good news,best wishes dear.
I really admire India 🇮🇳 and their courage not just in science and technology but also in crypto and blockchain business.
Let’s see how it’ll work and how Unocoin will obtain cash to load those machines.
We’ll be at lookout for the next update @firepower.
This is @maxdevalue
Thanks for stopping by :)
Wow this is really exciting @firepower. We have a snacks vending machine in our office. There are many payment options available where most of the people use Paytm as the payment mode.
Today I was thinking what if there was an option to pay using cryptocurrencies. From your post, I can see that it is not too far. Hoping to see some positive news about cryptocurrencies soon in India.
Posted using Partiko Android
I'm quite positive about the future of cryptos in India but not so much about our current government. So it's a bit of a dicey situation. Let's see how things go.
Whoa !
Bangalore Rocks !
Thanks to Unocoin.
Talk to them to Add Steem / SBD
I can't believe this is Bitcoin exchange is as a ATM real in India.
that's good news for Indian thanks for sharing this news update.
Lots of Thanks for sharing this upcoming updates.
If this happens, it would be a game changer for the cryptocurrency market in India that would open the new doors of possibilities.
Possibly!
This is really a great move by Unocoin.
yeah! However, let's see what their bigger plans are. Soon we'll find out.