Surprisingly, Indians can now use Bitcoin to buy pizza, Ice-cream and coffee. Unocoin, India’s crypto asset, and blockchain company is offering its users to purchase gift vouchers via Bitcoins. Unocoin traders can use the gift vouchers from 90 different brands, such as Domino’s Pizza, Café Coffee Day, Baskin-Robbins, Himalaya, Prestige, and more. For general information one Bitcoin equals ₹34,10,899.52 as of August 12.
Offers and the Ideology Behind Bitcoin Trading
The offer is valid for KYC-verified customers with Bitcoin in their wallets. A user can use Bitcoin starting from ₹100 to ₹5,000 to buy gift vouchers.
According to Unocoin CEO and Co-Founder Sathvik Vishwanath, several bitcoin users across the world are accepting and trading Bitcoins as a barter asset but in India, this seemed impossible. Therefore the team decided to inform and educate Indians about the same.
He said that there are thousands of e-commerce platforms in the US and other countries where Bitcoin as a mode of payment is accepted. He stated that-
“Our offering answers the popular question of where someone can spend Bitcoin in India.”
Also Read: CoinDCX Becomes India’s First Crypto Unicorn after Raising Rs 6.7 Billion
How to avail of gift vouchers on Unocoin
1. To avail of the vouchers, Unocoin users will need to log in first.
2. After that, the user will have to go to the BTC page and click on the ‘Shop’ button.
3. While using the Unocoin app, the option should be visible on the dashboard in the more section.
4. Unocoin said that its KYC-verified users can avail of gift vouchers from an array of brands across sectors such as travel, restaurants, lifestyle, clothing, accessories, hotels, and more using Bitcoins.
5. On the Unocoin app, the vouchers’ would be shown, and upon selecting a desired voucher; its Bitcoin price will appear.
6. Users can pay the amount to receive the voucher code.
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Brief About Unocoin
Bengaluru-based startup Unocoin was founded in 2013 as India’s first entrant into the cryptocurrency industry. Unocoin says it operates the country’s largest Bitcoin trading platform.
Also Read: Chennai Startup Neomotion Creates Wheelchair That Transforms into Electric Vehicle
Recent Bitcoin Status and Growth
In recent times Bitcoin has seen some significant growth and has made back up from its record lows. It was also a major turning point for crypto exchanges in India as CoinDCX became the first Indian Unicorn crypto exchange.
This indicated that the coin was trading up by 0.34% over the last 24 hours. In the same stance, Bitcoin was trading up by 22.17% over the course of the last seven days.
Talking over the growth Bitcoin has made, Siddharth Menon, the COO of WazirX said-
“Bitcoin managed to close above 200 day moving average which indicates the bulls are returning back, Also the Onchain analysis indicates the dip has been bought by long term holders and we are not seeing any profit booking like we saw in 2018 after the top of $19600 on Bitcoin, All the Bitcoins bought during the dip are being held back by the Investors.”
Further adding Menon said that-
“Bitcoin and the crypto markets are showing strong signs of reversals. Ether the king of the Altcoins is clearly leading the pact to outperform Bitcoin in the past week.”
