Many takers for Bitcoin at CeBIT

More than 700 people have signed up with Bitcoin services startup Unocoin to sample the crypto currency at the three-day CeBIT India 2015 exposition.

To stimulate interest and promote Bitcoin at CeBIT and in India, the two-year old startup gave away Bitcoins worth Rs.200 for free to all interested people.

"Many people think transacting with Bitcoin is tedious, illegal and highly technical. But that's false. We have tied up with 10 merchants in Bengaluru for the enthusiasts to go and sample Bitcoins," said Fousul Haque promoting Bitocoin for Unocoin.

Unocoin is demystifying and explaining how Bitcoins work for common people at CeBIT.

The give-away Rs 200 Bitcoin can be spent at Sapna Book House, eTravelSmart, Peopleplace, IndSoft, Cyberls, Fashiondiva, FlightShop, Tecdoc 365 in Bengaluru and at Dharwad International School.

Unocoin collected interested individuals' e-mail address to register them on their website to send the Bitcoin activation link which requires a Permanent Account Number (PAN) Card and a bank account to transact.

The startup offers Bitocoin Storage facilities, buying and selling, web wallet and merchant gateway integration services.

One Bitcoin was valued at Rs 20,592 on Saturday afternoon which keeps always changing while Rs.200 amounted to 0.00966978 Bitcoin.

Founded by Sathvik Viswanath and B V Harish in June 2013, Unocoin based in Bengaluru employs 40 people.