There are numerous cryptocurrency payment methods available worldwide, but this new service is the first of its kind in India.
Unocoin, an Indian cryptocurrency exchange, has announced that it will soon allow users to purchase gift vouchers from major brands using Bitcoin. Although there are several cryptocurrency payment options available in the United States and other countries, Unocoin’s service is the first major cryptocurrency payment option that will allow Indians to use their Bitcoin to purchase everyday goods and services.
Users who have completed the know-your-customer process and are registered with Unocoin will be able to purchase vouchers ranging in value from 100 rupees (US$1.35) to 5,000 rupees. The value of vouchers varies by brand, according to Sathvik Vishwanath, CEO, and co-founder of Unocoin.
Users will be able to purchase vouchers for brands across a variety of categories, including fashion, travel, lifestyle, clothing, and accessories. Domino’s Pizza, Himalaya Pharmaceuticals and Healthcare, online travel agency Yatra.com, jewelry brand Joyalukkas, Baskin-Robbins ice cream, kitchen appliance brand Prestige, and Indian cafe chain Café Coffee Day are just a few of the well-known brands.
Unocoin users who are eligible to purchase vouchers can simply log in to a website or app, select the value of the voucher, and pay the equivalent Bitcoin price. The Bitcoin value of the vouchers is updated in real-time in accordance with the token’s market price at the time of purchase. The vouchers can be redeemed on the merchants’ websites or in-store.
Also Read: Alchemy Pay To Launch Virtual Crypto Cards With Visa And Mastercard
Wallets