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Bitcoin News

Bitcoin and Crypto Currency News

Browse latest bitcoin news about new businesses that accepts bitcoin and other cryptocurrencies, blockchain technology, and regulations of bitcoin. We report on latest crypto currency news, prices, talks and new start up related to bitcoin and other crypto currency.




  • Unocoin, India’s Largest Bitcoin Service Provider, Expands With PayUMoney Partnership

    ​The Bitcoin market in India is heating up with every passing week, and as 2016 comes to a close, the market has a ton of momentum heading into 2017. Unocoin, the premier Bitcoin service provider in India has just inked a partnership with another payment leader in India, merchant services company PayUMoney, to make buying and selling Bitcoin easier than ever

    The partnership between the two is major news, for those who use online payments in India, which is a relatively small but growing market niche. PayU is the payments leader in for merchants in India, controlling almost 60% of India’s e-commerce space. PayUBiz counts Jet Airways, Amazon, Airtel and Snapdeal among its clients.

    "The partnership with PayU is coming at a time when we are seeing a huge increase in the number of wallet users in India,” said Sathvik Vishwanath, CEO of Unocoin. “The ease with which payments can be made via wallets like PayU is certainly going to benefit the Bitcoin buyers and increase accessibility to Bitcoin markets. This is our Christmas gift to Unocoin users."

    Founded in 2013, Unocoin operates a trading platform that enables Indians to buy, sell, store, use and accept bitcoin. With well over 100,000 active customers, Unocoin processes more than 200 Million Rs, or almost $3 Million USD, monthly. This represents a significant amount of business given the fact that the average Indian makes around $30 USD in daily income. Unocoin offers customers Rs 200 (about $3 USD) for opening a new account.

    PayUmoney is currently used by more than two lakh (200,000) merchants across India, so this should spur even wider Bitcoin adoption in 2017, and they claim a user base of approximately 30 million.

    The economic market in India has been turned upside down with the demonetization created by Prime Minister Modi and the central banking system in early November. The popular 500 and 1000 Rs bank notes were decommissioned without notice, ATM are either empty or not working properly at all, and the new 2000 Rs bank note is not attracting much demand.Companies like ZebPay and Unocoin are seeing their Bitcoin businesses in India grow by orders of magnitude every month, and partnerships like this are not just desirable, but for many in the region, becoming necessary.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • India’s Unocoin Sets Record For Bitcoin Business Funding

    ​The global remittance market is huge, and Bitcoin is built perfectly to help users on both sides save billions of dollars every year, regardless of origin or destination. With that said, India is one of the world’s highest remittance users and would benefit from expanded Bitcoin use maybe more than any other nation, given its massive population. Unocoin is looking to fill that market niche and received $1.5M USD in new funding to do just that.

    Unocoin sets record for Indian Bitcoin business funding

    Unocoin’s pre-Series A funding round has set a new benchmark for any Bitcoin business from India. The mixture of domestic and international investors includes ah! Ventures, round leader Blume Ventures, Mumbai Angels, BoostVC, BnkToTheFuture, Digital Currency Group and FundersClub.

    “We needed a separate exchange for India. A few years ago when we wanted to buy bitcoin, there was nothing available in India,” Sunny Ray, Unocoin’s cofounder and president told Reuters. “So if you want to buy bitcoin from an international exchange, you will have to do a wire transfer from India to these international exchanges and get your bitcoin and oftentimes it takes 3-5 days.”

    Unocoin is now completing its third year in business, having launched in December of 2013, when Bitcoin was at its peak, before the official collapse of Mt. Gox in February of 2014. The announced launch of Unocoin took place on Christmas Eve, December 23rd of 2013. As an odd coincidence, the Reserve Bank of India (RBI) released a warning against the use of Bitcoin and digital currencies on the following day, Christmas Eve.

    “The creation, trading or usage of VCs including Bitcoins, as a medium for payment are not authorized by any central bank or monetary authority,” said the RBI at the time. “No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities.”

    Expansion and scaling of operations, both domestically and internationally, are some of the business cases for this funding, but increasing Bitcoin’s use as an international remittance vehicle is the end goal.

    "We are confident that Unocoin will further alter the landscape and make additional inroads into remittances and e-commerce in India," Blume Ventures's Karthik Reddy said in a statement.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University