Is Unocoin India launching Cryptocurrency & Bitcoin ATMs in India?
Some images and videos of Unocoin, one of India’s cryptocurrency exchanges, leaked shows that the company might be on the verge of launching Cryptocurrency and Bitcoin ATMs in India. The leaked photo of the ATM shows that Bitcoin, Ripple, Ethereum, Bitcoin Cash and Litecoin can be transacted through the ATM.
One such video is:
Unocoin’s main competitor, Zebpay shut down in September
Zebpay, which was a major player in India’s cryptocurrency space, announced on September 28, about its shutdown.
We are stopping our exchange. At 4 PM today, we will cancel unexecuted orders & credit your coins to your Zebpay wallet. No new orders will be accepted. The Zebpay wallet will work even after the exchange stops.
— zebpay (@zebpay) September 28, 2018
Privacy and anonymity (Bitcoin ATMs)
Genesis Coin along with General Bytes are some of the leading Bitcoin ATM manufacturers around the world. Bitcoin ATMs are preferred over LocalBitcoins because they provide higher anonymity to the users as they don’t have to meet someone and interacts only with a machine. They even provide privacy to the users as they do not have to deal with huge cryptocurrency exchanges for their conversions. Any problems that arise due to the technical faults of the ATM can be reported to the respective ATM providers in order to reimburse the loss. Hence it is highly secure.
Bitcoin ATMs are available only during the business hours, unlike the cryptocurrency exchanges which are available 24/7. However, they are still preferred because almost 40% of the world population doesn’t own a bank account which is a prerequisite in order to transact cryptocurrencies on an exchange.