By CCN.com: India’s regulatory uncertainty on cryptocurrencies has taken a toll on Bengaluru-based exchange Unocoin forcing it to lay off employees. According to The Economic Times, the bitcoin exchange has laid off over a dozen employees and now only has 14 employees remaining. The changes are drastic considering that last year in February Unocoin which is in its sixth year of existence boasted...
About a week since the seizure of what was to be the first Bitcoin ATM in India, one of the co-founders of the firm that installed the cryptocurrency vending machine, Unocoin, has speculated that the debacle could have been avoided with better branding. Speaking to Quartz India, the co-founder of Unocoin, Sathvik Vishwanath, has claimed that by branding the cryptocurrency kiosk ‘Bitcoin ATM’ they...
Indian authorities have arrested the co-founder of Unocoin, an upstart Bitcoin exchange in India. According to Times of India, Harish BV, co-founder of Unocoin, was taken into custody for illegally operating the “first” Bitcoin ATM in the world’s second-largest nation, located in Bangalore. The BTM was located in the Kemp Fort Mall. Bitcoin ATM Not Even Working At Time of Arrest As earlier...
Indian cryptocurrency trading platform Unocoin has found itself amidst heated controversy over the launch of its first cryptocurrency kiosk in Bengaluru. While the existence of the machine had already been leaked prior, the company officially unveiled it roughly ten days ago, on October 14. This is the first time that a physical machine has aided the purchase and sale of cryptocurrency in India...
Earlier this month, CCN reported that the Securities and Exchange Board of India (SEBI) sent government officials to Japan and Switzerland to better understand Bitcoin and crypto-related regulations prior to a supreme court hearing on a crypto trading ban imposed by the country’s central bank. At the time, many investors in India were optimistic towards the intent of SEBI to obtain better...
Unocoin, arguably India’s biggest and most well-funded cryptocurrency wallet, announced the launch of their digital exchange UNODAX on May 30, 2018. Active Crypto-Traders to be Benefited As stated on an official release, UNODAX is modeled as a “live-order book altcoin trading” platform, that aims to amplify the offerings available in the India crypto-space to deal with the traders’ demands. The...
According to a report by the Indian news publication, The Economic Times(ET), bitcoin exchanges in India may be facing some disruption from the country’s top financial institutions. Over the past month since December 2017, several national banks, including State Bank of India, HDFC Bank, Axis Bank, Yes Bank and ICICI Bank, have frozen accounts belonging to select digital currency exchanges. The...
Indian bitcoin exchange Unocoin has revealed its stance on the upcoming SegWit2x hard fork, stating that it will only support the majority blockchain following the split. Unocoin to Follow Majority Blockchain The startup made this announcement in a blog post, assuring its users that it will give them access to coins on both blockchains if a blockchain split occurs following the SegWit2x fork...
Bitcoin wallet and technology giant Blockchain.info is entering the Indian market via a partnership with leading Indian bitcoin exchange Unocoin. Blockchain, the world’s most widely used bitcoin wallet, is now available for users in India to buy and hold their bitcoins. In an announcement today, Blockchain revealed it has integrated Unocoin within its wallet dashboard to enable Indian users to...
Three of Indian's top bitcoin exchanges have revealed that they won't be supporting Bitcoin Cash, the new digital currency that is expected to result from a user activated hard fork (UAHF) on the 1 August. The three exchanges that have made the announcements are Zebpay, Unocoin and Coinsecure. As well as stating that they have no plans to support Bitcoin Cash, all three will be suspending bitcoin...
The Indian state of Karnataka is in the process of putting together a policy that focuses on digital currencies such as bitcoin. Located adjacent to the Arabian Sea, Karnataka capital is Bengaluru, formerly Bangalore and is known as a high-tech hub. Due to a rising demand in the popular digital currency, bitcoin, the state is keen to maintain pace with the increase in investors who are turning to...
Unocoin, India’s best-funded bitcoin exchange, has stopped withdrawals and blocked access to customer accounts as a precautionary measure after discovering a security flaw on its server on Friday. In an email sent out to users on Monday evening, Unocoin CEO and co-founder Sathvik Vishwanath said the exchange spotted ‘a security vulnerability’ on its server, quickly adding that ‘ALL customer funds...
Indian bitcoin exchange Unocoin has announced a partnership with Shapeshift to enable users to convert altcoins, deemed as ‘blockchain assets’, into bitcoin. More specifically, Unocoin will make use of Shapeshift’s API, allowing the following cryptocurrencies to be converted to bitcoin through Shapeshift. Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Lisk and Factom are among the altcoins...
The country's young but growing bitcoin industry comes together.
Indian bitcoin exchange Unocoin is ramping up its fervent push for bitcoin adoption in India. A new partnership with San Francisco-based bitcoin payments company Bitwage will see Unocoin integrated into the payments platform, enabling India-based workers, employees and businesses to receive wages from foreign businesses faster and at better rates. “For instance, an employee receiving $1,000 USD...
India is buying bitcoin at a premium of 35%.
Unocoin, arguably India’s foremost bitcoin exchange and wallet provider has announced the implementation of its APIs, a first for the company. The feature will help enable adopters, be it individuals or companies, to generate bitcoin wallets to transact with and store the cryptocurrency as a payment method. The API also allows for real-time or historical price information, bitcoin payment options...
Unocoin, an Indian bitcoin exchange that facilitates the country’s users to buy, sell and store bitcoins has blocked access to user accounts. The drastic move is a “temporary” measure, the bitcoin startup adds, noting that it is facing a “DNS resolution issue” since the early hours of November 3, Indian time. An email sent out to customers read: Please note that due to a DNS resolution...
Indian bitcoin exchange Unocoin has raised $1.5 million in a Pre Series-A funding round, the highest amount raised for any digital currency venture in the country. Unocoin, an Indian bitcoin startup that offers a trading platform for Indian customers to buy, sell and store bitcoins has raised a record $1.5 million in a round of funding, the company announced on Thursday. Founded in December 2013...
Amazon has positioned itself to become one of India’s e-commerce leaders. Purse.io, an online marketplace that allows discounts on Amazon by using bitcoin, is helping Amazon achieve its goal by allowing bitcoin users to receive discounts between 15 and 22% using Purse’s “Name Your Discount” program, Purse announced.
Unocoin, a trading platform in India, has reportedly been at the center of an intensifying debate in India over the legality and regulation of Bitcoin. The trading platform portends to be India’s Bitcoin Exchange, and has shut down once before due to uncertainties over Bitcoin in the country. According to a BitcoinTalk Bitcoin Forum Hero Member, Dashingriddler (OP), who claims to be affiliated...
Many Bitcoiners were under the impression that Bitcoin's prospects in India had been shattered after the premises of Mahim Gupta, buysellbitco.in's operator, was raided by Ahmedabad Enforcement Directorate (ED) back in December. Buysellbitco.in was an Indian Bitcoin exchange that had roughly $3 million USD in volume before being taken down, they are currently investigating whether or not money...