New wallet address and procedure to buy bitcoin


Dear customers,

New wallet address: Subsequent to the issues our clients faced due to delay in recognition of bitcoin deposits into their Unocoin wallets, we have implemented an alternative module which uses BitGo as our service provider to process deposits.  As a part of the change, we have generated a new bitcoin wallet address for our clients (users who got verified after August 3rd, 2015 already have a new bitcoin address – the bitcoin address for these users will not change).  The way clients may distinguish an old address from a new address is that the old addresses started with “1” while the new addresses start with “3”.  Moving forward, it is recommended that you use the new address to receive bitcoin into your Unocoin wallet.

Note: Your old bitcoin address will continue to work and you may receive bitcoin into your wallet until further notice. However, please note that there may be delays for deposits into old addresses.

Procedure to buy bitcoin: From August 17th, 2015, we will be retiring the option to buy bitcoin where you first order bitcoin and then send INR to Unocoin’s bank account via IMPS/NEFT.  The procedure to buy bitcoin in the future will be such that clients must deposit INR into their INR wallet and then use the INR to buy bitcoin whenever desired. This enables our clients to buy bitcoin 24×7 as long as they have a balance in their INR wallet. Here is the procedure to deposit INR and buy bitcoin.