Unocoin Releases Apis For Bitcoin Wallets And Dealers Transactions

Unocoin Bitcoin

Bitcoin start-up Unocoin has launched an application programming interface called API which will permit companies and individuals to create bitcoin BTC wallets and purchase, sell, receive and send bitcoins and let merchants to receive and appeal payments via bitcoins.

They will also give real-time or historic price data of bitcoins and avail notifications when payments comes.

Paycase has verified transactions in approximately 20 countries to direct payments over a diversity of crypto currencies networks. “Throughout a 6-month beta, Paycase positively completed $ 50,000 price of micro-transactions from country Canada to the Philippines, with prices be an average of 60-80% lesser than traditional payment players,” Unocoin mentioned. It is important to note that the reserve bank of India is still to make up its mind regarding the digital currency.

Issues with KYC

MediaNama’s Salman SH lately tried to make a bitcoin wallet on but entered into problem with verification. Unocoin inquires users to mention email id and password and then transfers a link to register an account. Once the registration is done, the user’s account will possess an unverified status. The company then inquires for the user’s name (as stated in the PAN card), PAN number, contact number and address. Scanned replicas of PAN card and a legal address proof with a photo should be uploaded.

This will transfer the account status as “verification pending”. Users will get phone call verification from team of Unocoin, and would be verified. Subsequent this, verified users will be capable to mention bank account details be able to purchase and sell 10 bitcoins everyday with no limits on sending and getting bitcoins.

In spite of uploading the documents, Salman’s verification was banned with the below email.

After few days, he received a call from the verification team inquiring him to upload scan copies of both wings of driver’s licence. He included the document scans but his account status still stays unregistered.

Funding

Unocoin increased $1.5 million from Blume Ventures, Mumbai Angels. It also protected $ 250,000 in funding from Barry Silbert’s bitcoin opportunity corp back in year 2014.

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