Indian Crypto Miner

Unocoin - An update regarding INR deposits and withdrawals           Our stance regarding the recent RBI notice Dear Unocoin Users, We have always believed in offering our customers with the best and most secure blockchain services. Since December 2013, our team has been serving the Indian bitcoin and blockchain community by continuously innovating: Industry leading Crypto-Assets and Blockchain company offering two market leading platforms: Unocoin, an online brokerage for trading bitcoin, and Unodax, an order matching crypto exchange. Providing 24x7 customer support by email and telephone. Unique buying plans such as SBP (systematic buying plans) & OTC (over the counter) along with multi-tier membership programs. Introducing new features such as Crypto Basket, etc. Due to the RBI’s  recent notification  on 'Prohibition on Dealing in Virtual Currencies', our banking relationships are likely to be disrupted on or before July 5th, 2

The head of the Indian government committee tasked to propose a regulatory framework for the cryptocurrency sector has revealed authorities are close to finalizing a draft in July. Nearly three months after the Reserve Bank of India, the country’s central bank,  introduced a banking freeze  on the cryptocurrency sector to adversely impact trading volumes, exchanges and investors have remained hopeful of legislation that regulates – in effect recognizes and legalizes – the industry. Earlier this month, we reported that  the  Indian government committee responsible for overseeing and proposing a regulatory framework  wasn’t in favor of a blanket ban  of the cryptocurrency sector. In a televised interview with India’s biggest financial news channel, the head of that government committee and the secretary of the Department of Economic Affairs Subash Chandra Garg confirmed that the authority is in the final stage of finalizing the regulatory draft framework for the cryptocurrency

Even as the Supreme Court has  reportedly  agreed to hear the  crypto petition  on July 3 this year, the RBI’s deadline to stop all banking services being availed by cryptocurrency entities is just two days away. In view of this,  most leading cryptocurrency exchanges have already prepared for the possible scenario . WazirX is no exception. Mumbai-based cryptocurrency exchange WazirX has launched a P2P crypto transfer solution  to enable crypto enthusiasts to continue buying and selling cryptocurrencies. The Peer-to-Peer (P2P) transfer  will allow users to buy and sell crypto directly with each other for Indian rupees . WazirX will act as an intermediary here, connecting the buyers and sellers on the platform. How it works:  The seller deposits the cryptocurrency with WazirX,  which the latter escrows for safekeeping during the transaction. At the other end, the buyer pays Indian rupees to the seller; as soon as the seller confirms receipt of the payment,  WazirX releases the

Kotak Mahindra, a major private bank in India, the latest financial institution to join RippleNet, Ripple’s enterprise blockchain network to enable inward remittances. In an announcement [ PDF ], Kotak Mahindra Bank revealed it use San Francisco-based Ripple’s blockchain technology to power inward international remittances in India, the world’s largest remittance receiver. Specifically, Kotak will use Ripple’s enterprise blockchain software,  xCurrent , to enable end-to-end tracking of instant payments and settlements over  RippleNet , the company’s enterprise blockchain network. Notably, the blockchain solution does not use Ripple’s token cryptocurrency XRP, which powers a separate product in  xRapid . By using xCurrent, Kotak says the average time to settle international money transfers could come down to minutes instead of several days. The bank’s retail users can also remit smaller sums of money frequently at lower rates, the bank confirmed. Kotak Mahindra’s chief digital

After delays, Indian cryptocurrency exchange Coinsecure outlined its compensation process for customers impacted by the theft of 438 bitcoins in April, worth approximately $3 million at the time. In an  announcement  on its website on Tuesday, Delhi-based cryptocurrency exchange Coinsecure revealed it will begin processing customer claims for compensation in rupees, India’s fiat currency. Customers who were affected by the early April heist ware required to sign an agreement that, controversially, absolves the exchange operator of any future inabilities and turned in physically to Coinsecure’s office before June 30 th , 2019. “Please note that the last date for submitting claims to us along with all appropriate documents is June 30, 2018,” Coinsecure wrote, giving its nationwide customers fewer than five working days to submit their claims alongside KYC documents. The exchange added: We will not entertain any claims received after June 30, 2018 and we shall have no liabilit

By now everyone has heard the  news  about the INR deposits and withdrawals delays, temporary halts on multiple exchanges. Well if you cannot deposit or withdraw your money, how can you buy Bitcoin and other Altcoins which are cheaper than the exchanges that holds your money? Fear not, you can still buy Bitcoin and other cryptocurrencies at these places from people like us with a simple IMPS/NEFT bank transfer or even Cash. This process can also be referred to as OTC trade. Peer-2-Peer Bitcoin exchanges are bringing their businesses to India, to capitalise on the opportunities opening up. While the incumbent players rely on manual intervention and payment partners to process user deposits, P2P exchanges work differently. You as a buyer have to make IMPS/NEFT transfer to the seller’s bank account to purchase Bitcoin. Once the payment is made and confirmed, you get your Bitcoin. All these exchanges follow an escrow model, meaning once you place an order the seller’s bitcoin is pl

If you thought crypto in India was over, you were probably wrong. According to a recent statement by a high-ranking official, the long-awaited regulations are on the way. A draft framework has been prepared, and authorities in Delhi hope to “wrap this up” as early as the first half of next month. Meanwhile, the Supreme Court has agreed to review a petition against the RBI ban earlier than expected, resetting the hearing for July 3. Committee Decides the Fate of Bitcoin in India The new Indian regulatory framework for cryptocurrencies is likely to be presented in the first half of July, according to a recent statement by Subhash Chandra Garg, Secretary of the Department of Economic Affairs at the Ministry of Finance. A draft has been put together and will be discussed in the first week of next month, the official said in an interview with the news channel  ET Now . Garg, who is heading the committee tasked to determine the future of Bitcoin in India, explained: We are fairl