New Delhi: The transactions using cryptocurrency has found acceptance in various countries and now India's crypto asset and blockchain company also started offering its users to purchase gift vouchers through bitcoins.
Even as the government proposed to bring a law to ban private digital currencies, and favours a digital currency backed by the Reserve Bank of India, the uncertainty over the legal status of cryptocurrencies has left the investors perplexed.
What’s The Offer For Bitcoin Users?
Unocoin, an Indian crypto asset, and blockchain company has given its users the opportunity to use bitcoin to gift vouchers from 90 different brands, such as Domino's Pizza, Café Coffee Day, Baskin-Robbins, Himalaya, Prestige, and more, according to the business publication Mint.
The particular offer will be valid for KYC-verified customers with Bitcoin in their wallets
In order to avail of the offer, users can use bitcoin starting from Rs100 to Rs 5,000 to buy gift vouchers, the company said.
Unocoin CEO and Co-Founder Sathvik Vishwanath said that several bitcoin users across the world are accepting and trading bitcoins as a barter asset but in India, it never happened.
It is why the company decided to educate its Indian subscribers.
While elaborating Vishwanath thousands of e-commerce platforms in the US and other countries use bitcoin as a mode of payment. "Our offering answers the popular question of where someone can spend bitcoin in India," he said.
Here’s How To Avail Gift Vouchers On Unocoin
In order to avail of the vouchers, Unocoin users have to log in first. Once logged in, the user has to visit the BTC page and click on the 'Shop' button. Remember while using the Unocoin app, the option should be visible on the dashboard in the More section.
According to the company, the KYC-verified users can avail of gift vouchers from different brands ranging sectors including travel, restaurants, lifestyle, clothing, accessories, hotels, and more.
On the Unocoin app, the vouchers' can be seen in INR denominations and upon selecting a desired voucher, its Bitcoin price will appear. Users can pay the amount to receive the voucher code.
The Bengaluru-based startup Unocoin started business in 2013 as India's first entrant into the cryptocurrency industry. Unocoin claims to be the country's largest bitcoin trading platform.
One bitcoin equals ₹34,10,899.52 as of August 12.