Bitcoin Forum

Unocoin proudly announces INR wallets for customers in India. This will allow users to store rupee balances and also make instant bitcoin purchases without waiting for bank transfers.

The only way Indian customers could previously acquire bitcoin through Unocoin was to place a buy order in advance, make payment within 8 hours and get the bitcoins at the locked-in rate.

With the new wallet service, users can add INR whenever they wish and use that balance for instant trades at a later time. Important to note that clients may not use the INR wallets to store proceeds from bitcoin sales. Instead, proceeds from any bitcoins sold will be deposited directly to the user’s bank account. The flow is designed this way as an effort to self regulate and make sure that every rupee used to trade bitcoin goes through appropriate banking channels and do not circulate within Unocoin’s wallet.


Cooperation with regulators
Unocoin has worked with its accounting team and legal representatives to assess whether its INR wallet is a regulated activity.

Unocoin has so far offered customers the options of a bitcoin wallet, bitcoin trading and merchant gateway services. Customers in India who have verified their accounts may access INR wallets immediately.

Glad to hear about this service. This would certainly prove out to be a major booster for your website.
Just wanted to know that do you guys provide an option to make transactions through Airtel money?

Did you get the custodian license or Payment gateway license to offer this?

if not , you are also the same as an other exchanges.

As per your statement on Bitcoin talk " Based on the regulatory compliance in India we are not allowed to keep INR on behalf of customer. Do not ask me how some other exchanges in India are doing it - I have no comments. So we wont be able to add that periodic purchase feature to Unocoin."

The original thread is https://bitcointalk.org/index.php?topic=699442.0

i must say, very acute observation!

https://pbs.twimg.com/media/B7R6y4rCcAE18zQ.jpg
i am TRANSFER money thru IMPS service provides instant transaction 24*7.
CONTACT NO HELP THERE HELP ME THANKYOU.
MMID:
9240844
Mobile Number:
9632720333

13 Jan
2015
13 Jan
2015
TO TRANSFERIMPS02/501308XXXXXX/XXXX0
333/-
13 Jan
2015
13 Jan
2015
TO TRANSFERIMPS02/501310XXXXXX/XXXX0
333/-
my bank satement
https://pbs.twimg.com/media/B7SjSmKCcAE8gjU.png

How long does it take for all the verifications? If I open an account today and start the process, can I trade within this week?
The non-regulatory manner of Localbitcoins or direct trade still appeals to me ;)

unocoin say that we discussed with our higher authority and according to our regulations, we processed your buy orders and cancelled your INR deposits for your deposit amount (6200 INR , 6000 INR) .

Hi,
In India we are allowed to hold INR worth one typical transaction for one business cycle number of days. So we only allow you to hold 2,00,000 INR for 90 days maximum. If you do not use the money with this 90 days, then it will be refunded back to your bank account.

Hello we apply your INR deposits against your buy or deposit order on first in first out basis. Depending upon the dates you have placed the orders, we will make sure your initial orders are executed before your later orders. So make sure once you create an order, you pay for it.

Regards

can't access https://www.unocoin.com/ (https://www.unocoin.com/)  https://i.imgur.com/Gt81B8r.png

How long does it take to withdraw money from INR wallet to bank account ?

Was sorted out in an hour. Memory issue due to traffic as the btc prices went up and had to upgrade it.

On same business day or in 1 business day.