What is Cryptocurrency and Where is First cryptocurrency bank ?

Can you imagine an asset that the value of which was zero around ten years back and now, its value has touched almost thirty-five lakhs Indian rupee.

I’m talking about Bitcoin, which has recently touched its all-time high price point due to which it is being talked about in the market and it is being discussed among the people. So that’s why I thought why not write a brief article about it, because many questions will have arisen in the mind of people regarding cryptocurrency. And I can also explain to you what is Bitcoin and its history.

What is Cryptocurrency?

Cryptocurrency is a digital asset (or a currency) over which central banks or financial institutions have no control or regulation. For instance, the US dollar is controlled by the central bank of the US and The Indian Rupee is controlled by the RBI, But there is no central bank or any main financial institution that controls the cryptocurrencies (bitcoins).

The cryptocurrency was the idea of someone’s brain But now, millions and crores are traded on its crypto exchange. The way shares are traded in the stock market.

Who invented cryptocurrency?

Blockchain technology was never used to create any cryptocurrency before 2009.it was adapted by Satoshi Nakamoto in 2009 to create the digital cryptocurrency Bitcoin. Yes you can say that it was invented by Nakamoto

What is blockchain technology?

As the name indicates, a blockchain is a chain of blocks that contains information. A blockchain is a distributed ledger that is completely open to anyone. It has an interesting property, once some data has been recorded inside a blockchain,it becomes very difficult to change it or hack it. Blockchain is a very big topic that cannot be explained in such a small article here.

Who invented blockchain?

This technique was originally described in 1991 by a group of researchers and was originally intended to timestamp digital documents so that it’s not possible to backdate them or to tamper with them. Almost like a notary.

First cryptocurrency bank?

This is a great opportunity for the Indian community. Because it is the first crypto bank in the world to open in India Where you can buy or sell cryptocurrency by visiting the bank directly. And you can also take a loan on your cryptocurrency.

People had to face a lot of trouble because people did not trust to hold their cryptos on many crypto exchanges. At the same time, there were a lot of problems regarding cryptocurrency in India like RBI had banned Crypto in 2018. And later this ban was also removed.

The bank is opened by Cashaa Exchange through a joint venture with the United Multistate Cooperative Society. And the name of that bank is Unicas, Yes Unicas is the first cryptocurrency bank in India

Cashaa has opened its first Physical branch in Jaipur, India.

We will request all of you that if you are from or near Jaipur, please go and visit Address: Keshav Enclave, C 52, Janpath, behind Vidhaan Sabha, Lalkothi, Jaipur, Rajasthan 302015

First cryptocurrency ATM in India?

India’s first cryptocurrency ATM is located in Bengaluru. Unocoin, a blockchain solution provider has instituted the first kind of bitcoin KIOSK in Bengaluru, which is to be followed by Mumbai and Delhi in a couple of weeks

This ATM can be used to deposit or withdraw money, which can later be used to buy bitcoins from a website or mobile app. With this ATM you can withdraw at least 1000 rupees (13.74 $). To make bitcoin withdrawals, you have to make a request from their mobile app or website. Then you will get a 12 digit reference number and an OTP And simply you have to fill this detail to make a withdrawal.


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