As we bid adieu to 2017, the value of a Bitcoin has appreciated 16x since the start of the year, currently trading at $16,655. The significant gains in a short span have made everyone curious about Bitcoin. There is a sudden rush among people interested to get acquainted with the crypto world.
Based in Bangalore, Unocoin is one of the popular Bitcoin wallets in India. It has a built-in exchange that allows users buy, sell, send, request and use Bitcoin. The makers have tried to keep the user interface as simple as it could be.
To start using Bitcoin, you just have to sign up for the app or through the website and deposit the amount in Indian Rupees to Unocoin bank account. Here’s how it is makes dealing in Bitcoin relatively easy
The fee charged is 1 percent of the transaction. After 60-day usage and a significant transaction volume, the users are given an upgrade to “Gold Membership” wherein the fee of transacting gets reduced to 0.7 percent. There is an increase in transaction limit per day.
The platform gives the users an option of daily, weekly and monthly transaction plans. These systematic buying plans mitigate the risk of volatility.
You can also auto-sell any amount of Bitcoin sent to a merchant Bitcoin address. This is quite handy for those who accept payments in Bitcoin.
Unocoin has partnered with a lot of merchants who deal in Bitcoin and let you shop online, pay bills, top-up mobile, recharge DTH account and more. Along with simple online transactions, the platform provides the user with options such as 24-hour price graph, in-built Bitcoin wallet, INR wallet, transaction history and other details to use Bitcoins in a smart way.
Read: Is Bitcoin a bubble?
As a merchant gateway, Unocoin offers a powerful merchant point-of-sale app. The merchant enters the bill amount in rupees and the app generates a QR code. The user scans the code and makes the payment in Bitcoin.
Bitcoin, an equivalent to digital cash, is created and stored electronically. Run on blockchain technology, the digital currency uses open-source and peer-to-peer technology. It is not regulated and operates without any interference from a central authority, although, hailed to replace all transactions or interactions which require a central authority to authenticate.
Bitcoin trading has become progressively popular in India. Some of the other notable Indian Bitcoin trading platforms are Coinsecure, Zebpay and BTCXIndia.