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Title: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 12, 2014, 02:48:26 AM https://www.unocoin.com/blog/wp-content/uploads/2014/08/Investment-news.png
Investment marks largest known capital raise to date in India’s fast growing Bitcoin space TUMKUR, INDIA, AUG 11th, 2014 – Unocoin (https://www.unocoin.com), India’s fastest growing Bitcoin service provider whose offerings include trading, merchant processing and storage of the digital currency, today announced a $250,000 investment from SecondMarket Founder Barry Silbert’s Bitcoin Opportunity Corp (https://angel.co/bitcoin-opportunity-corp). The investment marks the largest known to date in India’s Bitcoin space as well as one of the largest investments made by BOC outside of United States. Pioneered by SecondMarket (https://www.secondmarket.com/) founder and creator of the Bitcoin Investment Trust (http://www.bitcointrust.co/), Barry Silbert’s Bitcoin Opportunity Corp. has invested in more than thirty digital currency companies across the globe, including BitPay, CoinBase, Circle, Xapo, BitPagos, BitPesa and Volabit. “I am thrilled for Bitcoin Opportunity Corp. to make its first investment in India’s fast growing bitcoin ecosystem,” says Barry Silbert. “As bitcoin awareness and adoption in India continues to accelerate, I’m confident that the Unocoin team will be successful in building one of the largest, most important bitcoin companies in India.” One of the many socio-economic challenges that India faces is reaching the unbanked demographic which accounts for forty percent of the country’s urban population and sixty one percent of the rural population. India is also one of the largest recipients of remittances globally, totaling over $70 billion in 2013. Bitcoin technology has the potential to provide sustainable solutions and smarter financial options to all sectors of India. “Unocoin is dedicated to bringing the advantages of bitcoin and its technology to India to enable people to seamlessly transfer monetary value at minimal cost. The investment and backing from the Bitcoin Hero (http://www.coindesk.com/8-biggest-bitcoin-heroes-villains-2014-far) has brought both the cheer and responsibility to our team. A good part of the investment will be spent on scaling up of Unocoin and its marketing efforts, while another part will be used towards regulatory compliance and security expenditures.” said Sathvik Viswanath (https://www.linkedin.com/in/sathvikv), co-founder and Managing Director of Unocoin. “We are also focused on helping small and medium businesses, freelancers and merchants accept Bitcoin for their products and services. To be able to successfully accomplish this in a country of a 1.2 billion people, we need the support of the best in business,” added co-founder and Head of Global Business Development, Vikram Nikkam. “We are honored to have Bitcoin Opportunity Corp. on board, working with Barry Silbert who has all it takes to facilitate the kind of growth and services we are looking to offer.” Publications covering the story: http://blogs.wsj.com/moneybeat/2014/08/11/bitbeat-blockchain-hits-two-million-wallet-amid-strong-interest-in-bitcoin/ http://www.coindesk.com/indias-unocoin-closes-250k-funding-deal-silbert-investment-fund/ http://techcrunch.com/2014/08/11/silberts-bitcoin-opportunity-fund-drops-250k-on-india-based-unocoin/ http://www.businessinsider.com.au/barry-silbert-invests-in-indian-bitcoin-company-2014-8 http://www.bitcoinx.com/indian-bitcoin-startup-unocoin-raises-250000-in-new-fundraising-round/ https://my.news.yahoo.com/barry-silbert-latest-investment-more-221105800.html http://newsbtc.com/2014/08/11/barry-silbert-invests-250000-unocoin-indian-bitcoin-start/ http://www.nextbigwhat.com/unocoin-funding-bitcoin-opportunity-corp-297/ Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: Mining Master on August 12, 2014, 05:14:24 AM Congrats team Unocoin ;D
(Congrats Sathvik, look forward to seeing how this investment turns out to be) Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 12, 2014, 05:42:50 AM Congrats team Unocoin ;D Thank you !(Congrats Sathvik, look forward to seeing how this investment turns out to be) Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: Divinespark on August 12, 2014, 06:07:24 AM Congrats guys
This is a real coup and bodes well for the future Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: Equate on August 12, 2014, 07:59:38 AM Congrats on this achievement, but is it the biggest Bitcoin related investment in India ?
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: rohnearner on August 12, 2014, 08:36:02 AM Congrats on this achievement, but is it the biggest Bitcoin related investment in India ? By far I guess Yes..! Congrats to team Unocoin , wishing you luck for future . now you get some extra responsibilities too :) Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: BitCoinDream on August 12, 2014, 09:07:01 AM Investment marks largest known capital raise to date in India’s fast growing Bitcoin space TUMKUR, INDIA, AUG 11th, 2014 – Unocoin, India’s fastest growing Bitcoin service provider whose offerings include trading, merchant processing and storage of the digital currency, today announced a $250,000 investment from SecondMarket Founder Barry Silbert’s Bitcoin Opportunity Corp.The investment marks the largest known to date in India’s Bitcoin space as well as one of the largest investments made by BOC outside of United States. Pioneered by SecondMarket founder and creator of the Bitcoin Investment Trust, Barry Silbert’s Bitcoin Opportunity Corp. has invested in more than thirty digital currency companies across the globe, including BitPay, CoinBase, Circle, Xapo, BitPagos, BitPesa and Volabit. “I am thrilled for Bitcoin Opportunity Corp. to make its first investment in India’s fast growing bitcoin ecosystem,” says Barry Silbert. “As bitcoin awareness and adoption in India continues to accelerate, I’m confident that the Unocoin team will be successful in building one of the largest, most important bitcoin companies in India.” One of the many socio-economic challenges that India faces is reaching the unbanked demographic which accounts for forty percent of the country’s urban population and sixty one percent of the rural population. India is also one of the largest recipients of remittances globally, totaling over $70 billion in 2013. Bitcoin technology has the potential to provide sustainable solutions and smarter financial options to all sectors of India. “Unocoin is dedicated to bringing the advantages of bitcoin and its technology to India to enable people to seamlessly transfer monetary value at minimal cost. The investment and backing from the Bitcoin Hero has brought both the cheer and responsibility to our team. A good part of the investment will be spent on scaling up of Unocoin and its marketing efforts, while another part will be used towards regulatory compliance and security expenditures.” said Sathvik Viswanath, co-founder and Managing Director of Unocoin. “We are also focused on helping small and medium businesses, freelancers and merchants accept Bitcoin for their products and services. To be able to successfully accomplish this in a country of a 1.2 billion people, we need the support of the best in business,” added co-founder and Head of Global Business Development, Vikram Nikkam. “We are honored to have Bitcoin Opportunity Corp. on board, working with Barry Silbert who has all it takes to facilitate the kind of growth and services we are looking to offer.” Publications covering the story: http://blogs.wsj.com/moneybeat/2014/08/11/bitbeat-blockchain-hits-two-million-wallet-amid-strong-interest-in-bitcoin/ http://www.coindesk.com/indias-unocoin-closes-250k-funding-deal-silbert-investment-fund/ http://techcrunch.com/2014/08/11/silberts-bitcoin-opportunity-fund-drops-250k-on-india-based-unocoin/ http://www.businessinsider.com.au/barry-silbert-invests-in-indian-bitcoin-company-2014-8 http://www.bitcoinx.com/indian-bitcoin-startup-unocoin-raises-250000-in-new-fundraising-round/ https://my.news.yahoo.com/barry-silbert-latest-investment-more-221105800.html http://newsbtc.com/2014/08/11/barry-silbert-invests-250000-unocoin-indian-bitcoin-start/ +1 An absolutely no-nonsense straightforward achievement. Congrats & GooD Luck :) Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: TrailingComet on August 12, 2014, 10:55:53 AM Congrats Team Unocoin, that's a great achievement!
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 12, 2014, 01:01:55 PM +1 An absolutely no-nonsense straightforward achievement. Congrats & GooD Luck :) I exactly know what you mean :) Thank you Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: deadley on August 12, 2014, 04:08:35 PM Congrats UNOCOIN team,
It is really big initiative for other too, who are thinking to raise the capital. Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: polynesia on August 12, 2014, 04:51:17 PM Congratulations guys!
Faith of the investment community is always good. Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: chandan123 on August 12, 2014, 04:58:59 PM a great news for indian bitcoiners :) congrats
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: techguy on August 12, 2014, 05:43:25 PM Good work. Congrats !!
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: adv.kanishk on August 12, 2014, 05:51:17 PM Great goin guys.....heartiest congracts to your team...many great news coming from the community these days :)
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: bitcoinisfurture on August 12, 2014, 06:45:24 PM Congrats keep up the fantastic work...
Hope so fees would come down(3% + Tax) since currently its highest compared to others. Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: subvolatil on August 12, 2014, 07:18:21 PM Good work. Congrats !!
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 12, 2014, 07:30:29 PM Thank you.. yeah we will be working on the fee very soon.
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: buysellbitcoin on August 13, 2014, 05:24:10 AM Congrats mate and wish you awesome future ahead. This news marks a thumping plus to Bitcoin movement in India and Unocoin deservedly leading Bitcoin innovation space in India. This is a small recognition to hard work put by Unocoin team. Keep up the good work guys.
Regards, Mahin Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: amit2007gunjan on August 13, 2014, 06:47:02 AM Congrats Unocoin team ! Let's go and spearhead the Bitcoin revolution in India.
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: micky123 on August 14, 2014, 11:14:06 AM This is fantastic news! Just to be featured on coindesk itself is a huge achievement IMHO. Hope the business goes off well. Also, i was looking for information on when will we have a localized BTC pool? This is one thing that has been pending for so long now! Ready to throw whatever little mining power i have to a pool based in India! ;D
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: vaisajne on August 14, 2014, 11:17:20 AM Impressive achievement. Long way to go Unocoin! All the best!
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: BTCIndia on August 14, 2014, 02:54:44 PM This is fantastic news! Just to be featured on coindesk itself is a huge achievement IMHO. Hope the business goes off well. Also, i was looking for information on when will we have a localized BTC pool? This is one thing that has been pending for so long now! Ready to throw whatever little mining power i have to a pool based in India! ;D Heartily Congrats after a exhaustive thinking! Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 15, 2014, 01:34:29 PM Thank you !!
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 15, 2014, 01:36:07 PM Unocoin announces 0% transaction fee promo
Unocoin is celebrating Independence day this year with a bang!! Rolling out 0% transaction fees to all its valued customers starting 12:00 am 15th August 2014. This is our way of saying Thank You! for your continued loyalty, support and participation in our vision to empower and grow the Bitcoin eco system. Unocoin believes that bitcoin should be made easily and seamlessly available to all cross sections of society from the financially excluded to the business segment. So we thought by introducing our 0% transaction fees will be a start to this and encourage all to take advantage of this technology. We believe our success trajectory can only be measured by the contribution we make in strengthening the bitcoin community and making bitcoins accessible as a form of value transfer. So go ahead and make use of the offer and invite your friends to participate too. Promo runs till 30th Sept 2014 Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: Sindelar1938 on August 18, 2014, 08:49:33 AM What bothers me is that Unocoin's price even allowing for 0% transaction fee is consistently uncompetitive
I understand that the volatility makes things tricky, but you can't have a 7% bid offer spread Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 19, 2014, 09:25:01 AM What bothers me is that Unocoin's price even allowing for 0% transaction fee is consistently uncompetitive It is not the Unocoin itself that determine the spread but is customer's buying and selling volumes and tree depths in international exchanges (little weight). The spread would seem high on days of high volatility like it has been since 3 days else i would usually see it much lower.I understand that the volatility makes things tricky, but you can't have a 7% bid offer spread Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: ZeroSum on August 19, 2014, 10:53:48 AM Congratulations Unocoin for recent investments!
I got few questions: Is Unocoin.com 'manual version' for Coinbase? How you hedge yourself against large buying/selling orders? Do you forward order to international orderbooks or buy/sell on behalf of customer back by some buffer stock? If yes then, do you have programmed automated bots for your strategies or insist on manual trade? Are you importing Bitcoins backed by IEC codes and legal research? Regards, ZeroSum Believer Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 19, 2014, 01:32:30 PM Congratulations Unocoin for recent investments! We run something similar to coinbase as long as trading is concerned. Coinbase has the payment gateway integration which means when customer is checking out, they can authorize in their onlinebanking to sweep the needed funds etc. This will allow immediate delivery of bitcoins to their wallet. In India, as the payment gateway providers like banks or ccavenue etc want some regulation to be there for them to support bitcoin business, we do not have their support in this aspect and will want customers to send INR to our bank account through NEFT and then we will process the BUY orders manually for them as their funds hit our bank account.I got few questions: Is Unocoin.com 'manual version' for Coinbase? How you hedge yourself against large buying/selling orders? Do you forward order to international orderbooks or buy/sell on behalf of customer back by some buffer stock? If yes then, do you have programmed automated bots for your strategies or insist on manual trade? Are you importing Bitcoins backed by IEC codes and legal research? Regards, ZeroSum Believer We do not do any kind of order to order hedging. We are ok to take some amount of risks. No we do not touch international borders and have not programmed anybots. We have IEC code but still do not import bitcoins ourselves. Regards Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: polynesia on August 20, 2014, 12:16:22 AM I was initially surprised that this was not featured in any of the mainstream newspapers. Looks like it made it to The Hindu after a couple of days.
http://www.thehindu.com/business/Industry/bitcoin-startup-unocoin-gets-overseas-funding/article6321677.ece Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 20, 2014, 05:09:04 AM Got covered in Economic times as well but it was more of my personal story than just the announcement part :)
http://articles.economictimes.indiatimes.com/2014-08-19/news/52983532_1_linden-lab-second-life-virtual-world Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: ZeroSum on August 20, 2014, 07:03:27 AM Congratulations Unocoin for recent investments! We run something similar to coinbase as long as trading is concerned. Coinbase has the payment gateway integration which means when customer is checking out, they can authorize in their onlinebanking to sweep the needed funds etc. This will allow immediate delivery of bitcoins to their wallet. In India, as the payment gateway providers like banks or ccavenue etc want some regulation to be there for them to support bitcoin business, we do not have their support in this aspect and will want customers to send INR to our bank account through NEFT and then we will process the BUY orders manually for them as their funds hit our bank account.I got few questions: Is Unocoin.com 'manual version' for Coinbase? How you hedge yourself against large buying/selling orders? Do you forward order to international orderbooks or buy/sell on behalf of customer back by some buffer stock? If yes then, do you have programmed automated bots for your strategies or insist on manual trade? Are you importing Bitcoins backed by IEC codes and legal research? Regards, ZeroSum Believer We do not do any kind of order to order hedging. We are ok to take some amount of risks. No we do not touch international borders and have not programmed anybots. We have IEC code but still do not import bitcoins ourselves. Regards I wonder, why Barry invested so much in 'Manual Exchange' when one can have automated at same cost. I never understood investors! Will you be utilizing part of fund to develop automated trading system which can integrate API's when regulation is clear? I'm anxious to know your future plans and as your LinkedIn summary has vague vision. Why did you stop mining? We've electricity at competitive rates in few states. I personally, consider them more important and basic need than exchanges in very long run. What is your preference- leading/catalysing India or making money? Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 20, 2014, 12:09:48 PM Congratulations Unocoin for recent investments! We run something similar to coinbase as long as trading is concerned. Coinbase has the payment gateway integration which means when customer is checking out, they can authorize in their onlinebanking to sweep the needed funds etc. This will allow immediate delivery of bitcoins to their wallet. In India, as the payment gateway providers like banks or ccavenue etc want some regulation to be there for them to support bitcoin business, we do not have their support in this aspect and will want customers to send INR to our bank account through NEFT and then we will process the BUY orders manually for them as their funds hit our bank account.I got few questions: Is Unocoin.com 'manual version' for Coinbase? How you hedge yourself against large buying/selling orders? Do you forward order to international orderbooks or buy/sell on behalf of customer back by some buffer stock? If yes then, do you have programmed automated bots for your strategies or insist on manual trade? Are you importing Bitcoins backed by IEC codes and legal research? Regards, ZeroSum Believer We do not do any kind of order to order hedging. We are ok to take some amount of risks. No we do not touch international borders and have not programmed anybots. We have IEC code but still do not import bitcoins ourselves. Regards I wonder, why Barry invested so much in 'Manual Exchange' when one can have automated at same cost. I never understood investors! Will you be utilizing part of fund to develop automated trading system which can integrate API's when regulation is clear? I'm anxious to know your future plans and as your LinkedIn summary has vague vision. Why did you stop mining? We've electricity at competitive rates in few states. I personally, consider them more important and basic need than exchanges in very long run. What is your preference- leading/catalysing India or making money? Stopped mining as we had to start spending more on expenses. The place where we used to have miners has high rent. Forget about the rent, even if we just consider the electricity, it was still not profitable. Our preference is of course being a leader in India. Not looking for making money right now but also that we do not want to undergo losses when we are not needed to. Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: ZeroSum on August 20, 2014, 12:55:56 PM Congratulations Unocoin for recent investments! We run something similar to coinbase as long as trading is concerned. Coinbase has the payment gateway integration which means when customer is checking out, they can authorize in their onlinebanking to sweep the needed funds etc. This will allow immediate delivery of bitcoins to their wallet. In India, as the payment gateway providers like banks or ccavenue etc want some regulation to be there for them to support bitcoin business, we do not have their support in this aspect and will want customers to send INR to our bank account through NEFT and then we will process the BUY orders manually for them as their funds hit our bank account.I got few questions: Is Unocoin.com 'manual version' for Coinbase? How you hedge yourself against large buying/selling orders? Do you forward order to international orderbooks or buy/sell on behalf of customer back by some buffer stock? If yes then, do you have programmed automated bots for your strategies or insist on manual trade? Are you importing Bitcoins backed by IEC codes and legal research? Regards, ZeroSum Believer We do not do any kind of order to order hedging. We are ok to take some amount of risks. No we do not touch international borders and have not programmed anybots. We have IEC code but still do not import bitcoins ourselves. Regards I wonder, why Barry invested so much in 'Manual Exchange' when one can have automated at same cost. I never understood investors! Will you be utilizing part of fund to develop automated trading system which can integrate API's when regulation is clear? I'm anxious to know your future plans and as your LinkedIn summary has vague vision. Why did you stop mining? We've electricity at competitive rates in few states. I personally, consider them more important and basic need than exchanges in very long run. What is your preference- leading/catalysing India or making money? Stopped mining as we had to start spending more on expenses. The place where we used to have miners has high rent. Forget about the rent, even if we just consider the electricity, it was still not profitable. Our preference is of course being a leader in India. Not looking for making money right now but also that we do not want to undergo losses when we are not needed to. Thank you for your patience and answers! :) Wishes! Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: bitcoinisfurture on August 20, 2014, 06:38:39 PM Hope so that now business hours would be extended from at present 11AM to 7PM and also working days would be 7 days a week.
Title: Re: [ANN] Unocoin raises $250,000 from Barry Silbert's Bitcoin Opportunity Corp Post by: dashingriddler on August 21, 2014, 03:59:20 AM Hope so that now business hours would be extended from at present 11AM to 7PM and also working days would be 7 days a week. Our customer service is already running from 7am to 11pm mon-sat but the order execution is between 11am to 7pm mon-fri. Sure we are planning for a 7am to 11pm 7 days a week to start with. |
