2 November 2024
Unocoin Facilitates Indians to Purchase Gift Vouchers with BTC
Popular Indian cryptocurrency exchange, Unocoin, is permitting its users to purchase gift vouchers from famous brands through Bitcoin.
Unocoin, founded in 2013, is the first major cryptocurrency payment service with a 1.3 million user base which will facilitate Indians to use their Bitcoin to purchase products and services. Listed users of Unocoin, the ones who have completed the Know-your-customer (KYC) process, will be allowed to buy vouchers ranging from 100 rupees (US $ 1.35) to 5,000 rupees. The CEO and co-founder of Unocoin said that gift voucher’s values will vary according to the brand.
The users will be allowed to buy vouchers for brands in sections involving fashion, lifestyle, travel, hotels, and accessories. Some leading brands include Baskin-Robbins ice cream, kitchen appliance brand Prestige, Indian cafe chain Cafe Coffee Day, Domino’s Pizza, Yatra.com, pharmaceutical and healthcare company Himalaya, and jewelry brand Joyalukkas.
Eligible users can easily log in via Unocoin’s app or website and then select the value of the voucher they wish to purchase and pay the equivalent Bitcoin price. Moreover, the Bitcoin value of the voucher is updated as per the token’s market price at checkout. However, users can redeem the vouchers either on merchant’s websites or at physical stores.
Through the years, Unocoin, the crypto exchange, has made several efforts to popularize and promote Bitcoin payments in India and facilitated its merchants to accept crypto payments and users to pay their phone and utility bills with crypto. However, the new feature makes it easier for retailers to integrate crypto payments on their platforms.
Vishwanath affirmed, this latest move was strongly demanded among customers and retailers, as several users had enquired about real-world uses of cryptocurrencies apart from it being an asset. Emphasizing further the CEO of Unocoin, said cryptocurrencies such as Bitcoin were largely used as investment assets, and Unocoin’s new feature will provide users with a taste of the real-world utility of cryptocurrencies.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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