New Delhi: With the aim of increasing the adoption of bitcoin usage amongst people, Bengaluru-based start-up Unocoin announced the launch of a mobile bitcoin app for both iOS and Android devices on Monday.
The app is supposed to allow consumers to buy, sell, send, receive and store bitcoin in one place, from any remote device. Bitcoins are a form of digital currency, created and held electronically using software.
“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 app also claims to provide consumers 24/7 access to real time bitcoin market prices and instantaneous trading transactions with this service.
“Customers are supposed to submit their name, Permanent Account Number(PAN) card, Address proof like voter Id , Aadhaar card etc, bank account number and photograph before using the app,” Sathvik Vishwanath, co-founder and CEO of Unocoin, said.
A dashboard is available on the app which will display both a bitcoin wallet (with the option of requesting bitcoin) and an Indian rupee wallet (with the option of adding and withdrawing domestic currency). If a customer wants to buy bitcoins, there will be debit from the INR wallet and a simultaneous credit into the bitcoin wallet of the same amount. Users can see the transaction progress and confirmation on the dashboard.
With the bitcoin app going live, Unocoin plans to capitalise on the recent demonetisation drive by the central government and increase the use of this digital currency in the long run.