India’s Unocoin Exchange Set to Launch Cryptocurrency ATMs with Five Major Digital Coins

Unocoin Exchange Set to Launch Cryptocurrency ATMs for Five Major Digital Coins in India

India seems to be moving faster than most nations in cryptocurrency & blockchain adoption. According to the latest developments, an Indian based crypto exchange known as Unocoin is set to launch cryptocurrency-oriented ATMs. However, this is yet to be formally announced as speculations in crypto sub-forums indicate Unocoin’s innovation will support about 5 altcoins.

The Unocoin Digital Currency ATM

This popular crypto coin exchange enjoys an active clientele of close to 1.2 million crypto traders & HODL enthusiasts. The firm is scaling up its services to build a physical presence as well by launching Unocoin ATMs. So far, not much has been confirmed apart from an image making rounds in crypto sub-forums hyping the milestone!

However, sentiments shared by the CEO of Unoicoin, Sathvik Vishwanath, show that the news is indeed accurate;

“It is true that we are launching our ATM machines but we have not made the news public yet. We may need about a week more before we get this operational. Someone has spotted a machine and they are spreading the pic and speculation around.”

Physical machines for depositing & withdrawing by Unocoin cards have painted a picture of the project’s features as we await the official release. As it stands, the machines will only be compatible with Unocoin cards while they have logos suggesting that LTC, BCH, ETH, XRP & BTC are the most likely coin candidates for this launch.

Unocoin’s Contribution in Crypto

Unocoin has established a crypto base in India despite the unsupportiveness from banks following the country’s strict Reserve Bank approach. Therefore, firm promotes its coin-to-coin trading platform named Unodax for better market prospects. The measures implemented by India’s Reserve bank in mid-2018 saw Unodax discontinue its transaction services with the Indian rupee. Another player affected by similar circumstances is Zebpay coin exchange which had to put its operations on hold.

The cryptocurrency exchange operated by Unoicoin is barely half a year old but has integrated 4 major crypto coins while users have the option of trading 60 cryptocurrency pairs. This is not to say that Unodax is ignorant of the current market scope; most of India’s crypto market participants are looking to HODL crypto investments as opposed to trading. If the digital assets are well regulated it would then mean a change of investor sentiment hence attracting more short & long term crypto traders.

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