Indian Cryptocurrency Exchange UnoCoin is bringing a lot for its users by letting them pay for everyday essential items and services with cryptocurrency holdings such as Bitcoin.
Although there are lots of Payment methods spread throughout the giant country, UnoCoin brings something unique to the people of India. By giving its users the ability to pay for common items and services such as eatables, drinkables, gift cards, and subscriptions, UniCoin helps to diversify the payment option levels of the Indian market. UniCoin provides users the ability to utilize their previous Bitcoin assets to purchase necessary everyday items.
Voucher System
Users who are fully registered on the exchange are eligible to purchase vouchers priced from 100 Indian Rupees to a high of 5000 Indian Rupees. Co-founder and CEO of UniCoin, Sathvik Vushwanath mentioned to a news agency that the value of the vouchers would scale according to the popularity of the brand.
Supported vouchers of brands available for purchase will include all sorts of market sections such as traveling, fashion clothing, everyday lifestyle items, and hotel bookings. Other important items such as food and medicine and others from popular brands such as Domino’s Pizza, Himalaya Medicine, Yatra Traveling, Joyalukkas Jewelry, Baskin Robbin’s Ice cream, and many others are available.
Easy to Understand
Registered users who have enough Bitcoin holdings can just simply log in on the mobile application or website, choose the voucher they seek to claim, and then purchase it using the converted Bitcoin price. The price of Bitcoin during the transaction will be up to date according to data captured in real-time from sources. The vouchers purchased can be utilized on both online and physical stores throughout the country.
UniCoin’s Run So Far
Looking into the performance of UniCoin, the exchange has managed to deal with over 1.3M users since it was brought into the market back in 2013. The aim of the exchange has been to enable cryptocurrencies such as Bitcoin to become a mainstream asset for payments, allowing users to utilize their precious Bitcoin holdings when in need to pay for everyday items or payment of taxes and bills. The work that UniCoin helps out brands in a way that they do not have to integrate crypto payments into their systems, instead of using vouchers to help people pay, in turn making the whole process a lot easier.
CEO Sathvik said that UniCoin’s function is driven by the excessive amount of demand for cryptocurrencies by both users and businesses.