Unocoin is one of the major cryptocurrency exchanges in India. It has a crypto web wallet created especially for the Indian community, along with its own trading facility. Now Unocoin to launch Crypto ATM’s.
Unocoin’s Crypto ATMs:
Unocoin to launch Crypto ATM’s.As Unocoin is one of the largest cryptocurrency exchanges in India with over 1.2 million customers, it is considering cryptocurrency automated teller machines (ATMs). Even though there has been no formal announcement yet, an image of one of the exchange’s ATMs has gone viral on social media leading viewers to believe that the machines will up sooner than later and will support at least five cryptocurrencies.
“It is true that we are launching our ATM machines but we have not made the news public yet. We may need about a week more before we get this operational. Someone has spotted a machine and [they] are spreading the pic and speculation around.”
–Sathvik Vishwanath, Unicon’s CEO.
No one knows exactly where this cryptocurrency ATM is located, but from the picture, it seems to be situated in a mall. This cryptocurrency ATM can be used to deposit or withdraw from an Unocoin account. Which also have the capability to trade cryptocurrencies with money. Unicorn’s cryptocurrency ATM will offer Bitcoin, Ethereum, Bitcoin Money, Litecoin and Ripple to end users.
This is a wonderful innovation from a cryptocurrency exchange in India. Even though it is not known how Unocoin will counter the RBI banking ban. The existence of a cryptocurrency ATM will unquestionably be handy for traders
How to use Crypto ATMs:
Unocoin’s crypto ATMs are similar to regular Fiat ATMs currently in existence. The wording for instant deposit and withdrawals for your Unocoin account is self-explanatory on the machine. But usage of credit and debit cards are not accepted. A user can solely deposit or withdraw from their Unocoin account or simply trade cryptocurrencies with money. The following logos: BTC, XRP, ETH, BCH, and LTC can be found next to the machine. This indicates that ATMs support a minimum of five cryptocurrencies.
Business plans of Unocoin:
Unocoin to launch Crypto ATM’s.Ever since the Reserve Bank of India (RBI) reported about the ban of crypto business within the country and the prohibition of financial institutions from providing services to these businesses, Unocoin has been promoting its crypto-to-crypto trading platform called Unodax. Unocoin subsequently disabled its deposit and withdrawal services for the Indian rupee when the central bank banned it completely in July.
Unodax, India’s leading blockchain and crypto asset company, has four base coins and over 60 crypto-to-crypto trading pairs. After the banks have stopped facilitating payments to crypto asset exchanges in India, Unodax offered a solution through crypto to crypto pair trading.
“There is a bigger percentage of users who just buy bitcoin as an investment than trying to earn money through short-term trading and regulation has been the biggest challenge followed by sentiments of users.”
–Sathvik Vishwanath, Unocoin’s CEO,