Indian crypto assets blockchain company unocoin has unveiled indias first cryptocurrency atm by installing one at kemp fort mall in bangalore. Ndias first cryptocurrency automated teller machine atm is set to go live in bengaluru on monday as the company behind it successfully completed trials on thursday afternoon.
India S First Cryptocurrency Atm Launched In Bengaluru The News Minute
This is the first atm of its kind in india and it has played a clever card by circumventing rbi regulations.
Indias first cryptocurrency atm. Last week the virtual currency exchange unocoin had set up the countrys first cryptocurrency atm in bengaluru. Indias leading crypto exchange platform unocoin launches first cryptocurrency atm in bangalore which allows customers to withdraw and deposit in inr that obtained by selling crypto assets. The atm set up.
The cryptocurrency atm is in bengaluru. News cryptocurrency wednesday october 24 2018 0807 prajwal bhat. Not only is this the nations first cryptocurrency atm but its also the first atm installed by unocoin.
Bengaluru has indias first cryptocurrency atm. This cryptocurrency atm allows users to withdraw and deposit cash only circumventing the need for a bank account. The atm allows customers to deposit and withdraw a minimum amount of rs 1000 and transact in cryptocurrencies like bitcoin ethereum and others.
The blockchain company deployed first atm in bangalore to trade crypto assets in inr to avoid the recent hurdles faced by the exchange in dealing crypto. The countrys first cryptocurrency atm was installed in bengalurus kempfort mall just one week ago amid much fanfare. Life for indias first cryptocurrency atm has turned out to be short.
Unocoin said that the decision to launch the atm was taken after the rbi ban in july which put a virtual ban on trading in cryptocurrencies. India gets first bitcoin atm. These atm machines can be used by unocoins kyc verified customers for deposit inr to and withdraw inr from their unocoin or unodax account.
However now a cryptocurrency exchange unocoin has exploited a loophole in government regulations to bring india its first cryptocurrency atm. Indias first bitcoin atm is located in the kemp fort mall in bangalore. Indias first cryptocurrency atm launched in bengaluru installed by virtual currency exchange unocoin the atm allows customers to deposit and withdraw minimum amount of rs 1000 from the platform.
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