From the team becoming fully remote to raising funds from Tim Draper’s Draper Associates, this year will have a special place in the journey of Unocoin.
From the team becoming fully remote to raising funds from Tim Draper’s Draper Associates, this year will have a special place in the journey of Unocoin. We added new coins, integrated our apps to give way to a brand new Unocoin Exchange, and observed the rise of Bitcoin as the best performing asset of 2020. And we did all to keep up our commitment of Bringing Bitcoin to Billions. As the curtain falls on 2020, let’s look back at all the events that marked the year:
Introduction of Instant loans:
Unocoin launched a lending portal offering loans backed by crypto assets to its users. The new lending portal became a quintessential part of its ecosystem helping its users to self-sustain their financial needs backed by their own crypto-assets. This was done with the aim to grant loans in USDT and in INR to verified users against pledged collateral in bitcoin.
Resumption of accepting INR deposits and withdrawal requests:
Following the Supreme Court’s verdict that slashed down the notice issued by RBI to banks on 06 April 06 2018, Unocoin announced that it had started to accept INR deposit and withdrawal requests.
Inclusion of Ether in the Systematic Buying Plan:
Systematic Buying Plan (SBP) is an exciting way to acquire bitcoin (BTC) and ether (ETH) — a more conservative approach to investing in bitcoin and ether than spending all your money on bitcoin or ether at once. This technique allows you to commit to a fixed INR amount on bitcoin on a regular schedule regardless of the price.
New feature launch:
You can now pay for mobile prepaid top-up, postpaid and DTH bills using bitcoin.
Integration with IntoTheBlock.com:
IntoTheBlock is an intelligence company that leverages machine learning and advanced statistics to extract intelligent signals tailored to crypto-assets. IntoTheBlock aims to tackle one of the hardest problems in crypto: to provide investors with a view of a crypto asset that goes beyond price and volume data.
With the integration of Unocoin with IntoTheBlock, customers will now see this screen when they are buying BTC/ETH/USDT on Unocoin and there is a separate section on Unodax to show the analysis of all the listed coins
New feature launch: Auto-sell:
Prior to this, auto-sell was extensively used by freelancers who choose to accept bitcoin as a mode of payment but don’t want to be exposed to bitcoin price volatility. Due to the banking issue in 2018 and 2019, Unocoin had to pull down this feature but it was enabled again — the platform can now pay out INR to customer’s bank accounts.
Reintroduction of Crypto Basket:
Unodax introduced weighted basket orders with its crypto basket. No need to spend time researching before you pick your coin. Bsed on the ratio of the market cap of the asset and the volume traded on the platform, Unocoin exchange now allows you to invest in all of them with a single click. Customers can choose from Bitcoin, Bitcoin Cash, Ripple, Litecoin, and Ethereum.
Discontinuation of tokens:
BRD (Bread), CVC (Civic), RDN (Raiden Network Token), NMR (Numerarire), PAY (Tenx), QRL (Quantum), GRS (Groestlcoin), PAC (Pac Global)
Introduction of new coins:
LINK, MATIC, PAXG, FTM, STORJ, DAI, MTL and SXP updated on Unocoin exchange.
Removal of coins:
ETH and XRP Base coin types removed from the platform.
Listing of coins:
UNI, SNX, YFI and WBTC listed on the Unodax platform.
Funding from Tim Draper’s Draper Associates:
Unocoin finalised its Series A funding round, targeted at US$5 million, led by Tim Draper’s Draper Associates with participation from XBTO Ventures and 2020 Ventures, veteran investors in the digital asset industry. The Series A funding round raises Unocoin’s valuation to US$20 million.
Unocoin Dazzling Diwali Contest:
Users were given a chance to win assured USDT worth 1000 INR on enrolling in an SBP of 500 INR daily for 120 days.
Launch of Unocoin Exchange:
Unocoin launched a digital asset trading platform built for professional traders. The launch, which follows Unocoin’s beta Unodax platform, marks the expansion of the Company’s existing brokerage model into a full-scale exchange model. The platform comes with comprehensive billing and invoicing functions to help fund managers and professional traders adhere to tax compliance and financial reporting.
Dialogues with top experts in the world:
Unocoin President Sunny Ray conducted a string of fascinating discussions with key figures in the crypto world like Anthony Di Iorio, Max Keiser, Peter Todd, Jameson Lopp, Suril and Nishith Desai. All episodes are available on the YouTube Channel Bitcoin Stories.
Unocoin features Xangle’s ticker:
Unocoin, India’s home for digital currency, began a partnership to feature the Ticker from Xangle.io, the top crypto asset disclosure platform. The Ticker will be displayed at the top of Unocoin’s exchange pages for Indian Rupees, BTC, and USDT pairs. This section of the exchange is designed to change based on the quote coin chosen by our user and hence keeping it clutter-free making it easier for consumption.
In sum:
So far so great! Looking back, we realise that the only way for the team, like the rest of the world, was to keep pushing despite the challenges thrown up by the pandemic this year. From being under lockdown to feeling the tremors of an economic crisis, taking care of our physical and emotional health amid fear of the virus to travel restrictions — the team showed remarkable zeal and resilience. With this thought, we step forth into the new year, clinging firmly to our mission of Bringing Bitcoin to Billions.
