India's Unocoin partners with Shapeshift to allow users convert altcoins into Bitcoin

posted 3 months ago
Unocoin, India’s bitcoin company, now allows users to convert altcoins into bitcoin. To make this happen, they partnered with Shapeshift. This partnership, which uses Shapeshift’s API, will enable Unocoin users to convert popular blockchain assets such as Ethereum, Monero, Zcash and Dash directly into Bitcoin and then if desired, into INR.

ShapeShift founder, Erik Voorhees shared, “when I first got involved with Bitcoin in 2011, it was mostly a Western community. It’s been tremendously exciting to see UnoCoin help bring this technology into India. ShapeShift is very proud to partner with them for digital asset exchange.”

There’s an emerging range of blockchain based digital assets that serve different purposes; i.e. enabling smart contracts, enhancing financial privacy, etc. What is common among all of these blockchain assets is that they all run on open mining algorithms. In India, there has been very little interest in alternative blockchain assets due to it being difficult to convert digital assets into bitcoin and INR. Unocoin is taking the the first step towards solving this problem.

This integration now enables users to trigger immediate conversion of their altcoin holdings such as Ether, Monero or Zcash right into bitcoin directly from within the Unocoin platform. Converted bitcoin may then easily be withdrawn to the user’s bank account. By enabling users to convert popular cryptocurrencies into bitcoin and INR, this integration both supports the blockchain community and serves Unocoin’s mission: “Make Money Simple By Bringing Bitcoin to Billions”.
Tags: blockchain, news, bitcoin