A bitcoin-OTC is an over-the-counter marketplace for buying or selling bitcoin for traders looking to trade in bulk with the minimum order of 25 BTC. Each order placed on the OTC platform may be tailored to match based on parameters such as ‘greater than’, ‘less than’, or ‘equal to’ a reference price from popular platforms such as: coindesk, localbitcoins, bitstamp, btcxindia, zebpay etc.
For example: A customer may place an order to buy 50 BTC when the price is less than coindesk’s price by 100 INR and Unocoin shall give a call to the customer when Unocoin is able to honor such a request to get the re-confirmation and move with the execution of the order.
“The OTC feature will come as a relief to traders who wished to trade bitcoin in larger quantities and weren’t able to do so previously due to: 1) buy/sell limit or 2) low liquidity in Indian bitcoin exchanges. This was a service that more serious Indian bitcoin traders were lacking, until now.” says Harish B V, Co-Founder and CFO at Unocoin.
Earlier this month, Unocoin launched its iOS mobile app for traders which is being received well and the android app is set to launch shortly. Unocoin’s Merchant PoS mobile app also hit the market in July. “In the coming few months, we are aiming to launch more exciting services which will contribute towards building a stronger bitcoin ecosystem in India” says Sathvik Vishwanath, Co-Founder and CEO, Unocoin, “we are on a singular mission here, take bitcoin to billions.”
Unocoin is India’s leading bitcoin company, has 90,000+ customers and is growing at a rate of 10-20% month over month. Backers include Digital Currency Group, Drapers’ Boost, BankToTheFuture and is ranked among the top 20 FinTech companies in India by FinTech City. Unocoin makes it easy to securely buy, sell, store, use and accept bitcoin in India.
