Indian Bitcoin platform Unocoin launches trading app

Indian Bitcoin platform Unocoin launches trading app

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Unocoin, an India-based Bitcoin startup, has launched of a mobile application for Bitcoin trading for devices with iOS and Android operating systems, The Bitcoin News reported on Monday. This is India’s first mobile Bitcoin app.

The mobile app includes all features available at the desktop platform, including buy and sell pairing for BTC/INR, mobile/DTH (Direct to Home Satellite Program) recharge, Systematic Investment Plan (SIP) access. It feature a 24/7 access to real-time Bitcoin market prices and instantaneous trading transactions and will enable users to buy, sell, send, receive and store Bitcoin all in one place.

“We focused on creating a design and interface that provided a seamless user experience on mobile. 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,” Abhinand Kaseti, co-founder and CMO of Unocoin said.

The news comes shortly after Unocoin released its own application programming interface (API), which allows companies to generate a Bitcoin wallet. In addition, the company offers a point of sale (POS) app for both Android and iOS to enable physical stores to accept payments in Bitcoin. Overall, the launch of a mobile Bitcoin app is

“We built this app from the ground up, using our very own public API, to ensure security and ease of use. 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,” Kaseti noted. “The dashboard displays the users BTC wallet, with the option to send and request bitcoin, and the INR wallet, with the option to add and withdraw Indian Rupees. The dashboard also features a 24 hour price graph, address books, messaging capability and transaction progress and confirmations,” he said.

The app also comes at a time when Bitcoin adoption in India is growing and spreading and while the government has denominated INR 500 and INR 1,000 banknotes.

“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,”  Abhinand Kaseti, Co-Founder and CMO of Unocoin said.

Unocoin’s Bitcoin app runs on iOS 7.0 or later for iPhone, iPad and iTouch devices, and Jelly Bean or later for Android devices.

The company was founded in late 2013, initially on a trial basis and later in full operation, and is based in the city of Bangalore. Since April 2016, the company is owned by Unocoin Technologies Private Ltd., which is a fully owned subsidiary of Singapore-based holding company Unocoin Technologies Pte Ltd. Unocoin has more than 110,000 customers and processes more than INR 200 million in transactions each month.

Last month the company raised $1.5 million in a pre Series-A financing round to expand its offering with new, enhanced solutions, among other things.

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