India’s, one of the most promising crypto exchange has set to change technology as a priority within the country. Recently, UnoCoin has launched Crypto ATMs for the withdrawal of fiat currency from the crypto wallet. User can Cash in and Cash out money from these ATMs.
News Bitcoin mentioned that CEO of UnoCoin Sathvik Vishwanath stated that the company will be launching initially 30 Automatic Transaction Machine in the Major cities of India, including Bengaluru, Mumbai, Delhi and other.
These Crypto ATMs can be used to withdraw fiat currency, i.e cash in and cash out from the crypto wallet straight throught this machine.
Sathivk Vishwanath stated,
The first ATM will be operational in Bangalore tomorrow…In the first phase we plan to deploy 30 machines…The first one is in Bangalore followed by Mumbai and New Delhi in the upcoming week.
Though there is no official tweet from Unocoin regarding this, but many of you have seen the ATM picture circulating on the internet.
Unocoin mentioned that crypto-to-crypto trading platform Unodax can deposit and withdraw rupees fiat currency with these ATMs. Users will have some limited limit per day for the deposit and withdrawal and with per transaction too. The minimum amount for deposit is set to initially 1,000 Rs and must be multiple of 500 Rs.
Users can Deposit and buy any coins from 30 coins listed on Unocoin crypto exchange.
Location of Crypto ATM in Delhi
After Bangalore and Mumbai, Unocoin’s Crypto ATM comes to Delhi.
Location: 147, M G Road, Sultanpur Extension, Sultanpur, New Delhi, Delhi 110030https://t.co/9owztoPwM8
— Indian CryptoGirl (@DesiCryptoHodlr) October 14, 2018
How to Deposit and Withdraw Fiat Currency From Unocoin ATMs
To deposit fiat currency i.e INR,
- A user needs to enter the Unocoin user ID and the OTP which will be received as SMS in their respective mobile.
- ATMs will verify and authenticate you as the real user.
- After, User will have the option to withdraw/deposit.
To withdraw INR, a user has to make a request by visiting Unocoin.com or through App, where they can specify an amount for the withdrawal. Then a 12- Digit reference number from Unocoin will be sent to the user to enter to ATM along with OTP.
To Deposit INR, a user will simply cash in fiat notes of 500 into the machine after the verification of the account and then the user will get INR into their respective account.
- After the successful transaction, the user’s account will be updated and funds will be credit/debit from both Unocoin and Unodax.