Unocoin is an Indian bitcoin processing company founded in 2013, which has expanded quite rapidly. Over the course of 2016, the Tumakuru-based startup has been scaling operations with funding, partnerships, and new services. The company has been on a mission to bring “Bitcoin to billions” with its continued development and endeavors across India.
Unocoin said its mobile application release comes at a time when “bitcoin adoption is rapidly ascending in India.” The significant increase is due to Prime Minister Narendra Modi’s decision to demonetize the rupee, the company explained. Unocoin hopes its new iOS and Android offering help accelerate bitcoin adoption with India’s large mobile market.
“As of now, there are more than 1 billion Indians who use mobile phones. More than 300 million use their phones regularly for accessing the internet. This trend is expected to go up by 56% per year,” details Abhinand Kaseti, Co-Founder, and CMO of Unocoin.
Focus on Seamless Mobile User Experience
Unocoin has had a very busy year. It set a national record for a bitcoin company, raising $1.5 million USD this past October. The pre-series funding round was backed by both Indian and international investors. Following this, the firm also released its API and an over-the-counter (OTC) marketplace. The company has also made partnerships along the way joining forces with Book my show and Purse.io.
The new mobile application will enable the purchase and sale pairing for BTC/INR, mobile/DTH (Direct to Home Satellite Program) recharge, SIP (Systematic Investment Plan) access. The platform will be available for iOS 7.0+ users and Jellybean or later for Android users.
“We focused on creating a design and interface that provided a seamless user experience on mobile,” Abhinand Kaseti said. “Customer satisfaction, easy navigation and user simplicity are the most important tenets to us, and we wanted to provide an even more convenient way for users to access and manage their digital currency portfolio when a home or work computer is out of reach.”
Unocoin said the wallet has all the amenities needed to obtain, sell, or store bitcoins. The dashboard features the wallet interface with BTC sending and receiving options. Additionally, the app has a 24-hour price chart, messaging support, and address books. Kaseti said the startup has invested a lot of time and effort in the mobile platform.
“We built this app from the ground up, using our very own public API, to ensure security and ease of use,” explained Kaseti. “It is secure with TouchID for iOS devices and password access for Android devices, and boasts a one-touch button for buying and selling bitcoin, complete with inbuilt conversion.”
Over the past few weeks, demand for bitcoin has risen exponentially. Localbitcoins reports show that there has been a surge of almost double the volume this month. This past week both Prime Minister Modi and Finance Minister Arun Jaitley have been pushing for digital adoption and a cashless society. Unocoin hopes to fulfill the residents of India’s desires to embrace a digital world by introducing a decentralized, better form of money.
