Unocoin, an Indian bitcoin exchange platform, has unveiled a mobile wallet app for iOS and Android devices that is set to increase the number of users substantially in the coming years. The release of this new app comes at a time when a big chunk of the Indian population has embraced mobile money transfer methods to do transactions.
In a statement released by Unocoin co-founder Abhinand Kaseti shortly after the launch of the new app, it was revealed that India has more than 300 million people who access the internet via their mobile phones. The trend is expected to grow up by 56% ever year. Unocoin is looking forward to tapping the potential of the ever-increasing number of mobile phone users in India and use it to its advantage. Click here to find out about USA friendly Bitcoin casinos.
Indian bitcoin exchange platform, Unocoin, launched the mobile wallet for iOS and Android devices approximately two months after closing a $1.5 million funding round that was backed with domestic and foreign investors.
Whether this will affect the effect of the newly launched mobile wallet platform on Unicoin users, is something that everyone will be looking closely at when the platform becomes fully operational. Unocoin had raised a smaller seed round in mid 2014. It is not yet clear how mobile users using Windows and other operating systems will get to benefit from this new launch. The apps only support iOS and Android mobile users and will enable them to buy and sell bitcoin directly. Another benefit of the new mobile wallet app is that users will be able to access live market data from anyplace through their mobile devices.
This new release systematically follows the Indian government controversial decree to ban high-value cash denominations in the country. This move was received by protests from stakeholders trading bitcoin in major parts of India. The move has surely sparked domestic buyers’ interest that has also seen local exchanges trading at a premium compared to the international market. Although Unocoin is expecting more people to embrace the newly launched mobile wallet platform when trading, it is not yet clear how the exchange platform is planning to educate thousands of users who cannot read or write but are interested in trading at the platform.
The newly released mobile wallet platform will be the first in India to enable users to purchase and sale bitcoin directly as well as to access a live market from anywhere they are. The innovative app makes it easier for millions of Indians who access the web through Smartphone devices to transact bitcoins and make something out of their efforts.
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