Open Talk @DSIM
An Interview with Sathvik Vishwanath, Co-Founder & CEO at Unocoin
Unocoin is a trading platform and merchant gateway for bitcoin in India. We make it easy to securely buy sell store, use and accept bitcoin.
Q1. Hi, Sathvik and welcome. Tell us how it all started – where did your vision for “Unocoin” come from?
Ans. Thank you! It all started in 2013 from a Meet-up where we were spreading the awareness of bitcoin but did not have an answer when the attendees asked about where to buy bitcoin. We have seen the attendees walking in with a stash of cash hoping that they will find someone in the meet up who is willing to sell them some bitcoin.We felt that is not the way it should be done and decided to put together a platform for trading bitcoin and that is Unocoin. The meeting where it all started still exists and we have continued to organize meet-ups once a month and have continued spreading the awareness of bitcoin.
Q2. Interesting concept with the Great name! How did you come up with it?
Ans. One of our co-founder Sunny’s wife is Colombian and Uno means one in Spanish. So Sunny had registered this domain name and was dreaming about building a platform when I met him and we retained the same name.
Q3. Tell us, what are the most effective ways for a company to promote itself online? What does digital marketing do for your business?
Ans. It is about making the bitcoin as much as simple as possible for a common man and on the other end educating the progress of bitcoin economy/industry across the world and in India. Our activities are around these views.
Q4. Great! Any particular thing that clicked for you w.r.t marketing?
Ans. It is about bringing the awareness of bitcoin that have clicked us in everything we do.
Q5. Sathvik, has “Unocoin” got the feedback and growth you expected since launch?
Ans. Yes – the growth has been natural and expects to grow four times in next 1 year.
Q6. Have you been in a failed start-up before?
Ans. While the founders had different businesses before – none of them were in start-up ecosystem.
Q7. What about the future? Where do you plan on going from here?
Ans. It is about bringing bitcoin to billions which bring the free and fast transactions, and hence making the money simple for a common man.
Q8. Can you convince the reader to start using Unocoin in under 100 words?
Ans. Bitcoin is the currency for the internet. The credit card that we used online today was invented even before internet did come in existence. Using it as a mode of payment on the internet on day to day basis exposes the user to security and privacy threats.
If Internet was country – then the currency for that country would be Bitcoin and it allows users to do fast and free transactions and without the need for middle men to process the transaction. Unocoin is the trading platform for bitcoin where Indians can securely buy sell store, use and accept bitcoin. It has 100,000+ users and processes more than 200M INR every month.
If Internet was country – then the currency for that country would be Bitcoin and it allows users to do fast and free transactions and without the need for middle men to process the transaction. Unocoin is the trading platform for bitcoin where Indians can securely buy sell store, use and accept bitcoin. It has 100,000+ users and processes more than 200M INR every month.
Q9. Sathvik, share with our readers, any big mistakes you did and could advice other young entrepreneurs how to avoid?
Ans. There have not been any mistakes as such. But I would like to tell the to-be entrepreneurs that the journey is not going to be smooth and only try it if your passion out weights your professional career and even your personal relationships.
While the rest of the world sees you as the owner of the business, only you will eventually understand that you are subordinate to your vendors/customers/employees/investors/ and every other stakeholder of your company. And the only thing that can make you succeed is your unmatched passion.
While the rest of the world sees you as the owner of the business, only you will eventually understand that you are subordinate to your vendors/customers/employees/investors/ and every other stakeholder of your company. And the only thing that can make you succeed is your unmatched passion.
Thank you so much for your time and valuable information. Best wishes for you and Unocoin from DSIM team.
DSIM Team
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