Notwithstanding the unresolved legal status of Bitcoin, the digital currency is developing at a rapid pace in the Indian markets.
The latest push comes in the form of Unocoin, a Karnataka-based Bitcoin trading platform, which today announced the launch of its new mobile application for Apple users. The portable mobile software, in line with Unocoin’s desktop platform, is a Bitcoin wallet for buying, selling and trading Bitcoins. The concept although is not fresh from a global perspective, it surely could mean something big for India, which — being the world’s leading IT hub — is considered slow in reference to virtual currency awareness.
Nevertheless, Unocoin’s new service aims to draw more Indian users towards Bitcoin, given its reportedly simple and secure features. Especially in times when loopholes in Bitcoin exchanges’ security systems are being exploited, the Indian version of Coinbase has added adequate protection layers to avoid such incidents.
For instance, the Unocoin Bitcoin wallet app incorporates a TouchID and passcode feature for security. By doing so, it has become the first Bitcoin trading app in India that offers biometric login features to its users. Other features include: a dedicated dashboard with 24-hour Bitcoin price updates, a one touch button to buy and sell Bitcoin, an INR wallet to ensure instant deposit and withdraw, a mobile/DTH recharge option, and Unocoin’s proprietary Systematic Investment Plan (SIP) feature.
“A lot of thought has gone into the design and user interface of this mobile application,” added Abhinand Kaseti, CoFounder and CMO, Unocoin. “We wanted to be sure that we are offering a seamless user experience for our customers. We built it from the ground up with the aim of making it the easiest bitcoin app in the world.”
In addition to the wallet app, Unocoin already offers a dedicated Point-of-Sale (POS) app to use Bitcoin as a means of payment in physical stores.