Unocoin, one of India’s earliest crypto exchanges, has launched a new app function that allows users with FASTag accounts to instantly pay electronic highway tolls using Bitcoin.
To start the process, you need to have bitcoin in your Unocoin wallet. You can use the bitcoin that you had deposited into Unocoin or purchased at Unocoin in the past. Then, go to the bitcoin tab or section in your app or on Unocoin.com and then head to the SHOP feature to see the FASTag tab.
Once you click on FASTag, you will be required to choose the operators. From the drop-down, you can select any of the seventeen operators listed with Unocoin. Once done, you are required to enter the vehicle registration number and the amount you would like to top up your FASTag with.
You can top up with a minimum amount of INR 100 to a maximum of INR 10,000 while making sure that you have enough bitcoin to cover it. Also, you can make any number of payments in a day. Finally, there is no transaction cost or charges for topping up FASTag with your HODLed bitcoin.
Once you are done with topping up, you can see the transaction in the transaction history. This transaction row shows you the amount of bitcoin sold, the INR equivalent, the date and time of the transaction and also the rate of conversion. This information can be used for future reference.
The whole process takes less than a minute and you can always put your bitcoin to work for you or your near ones.
Sathvik Vishwanath, CEO and Co-founder, Unocoin, said: “In a bid to celebrate the increased usage of crypto users on our platform, we introduced bitcoin as a new mode of payment gateway for FASTag. With this development, Unocoin aims to make the interstate travels seamless and encourage more Indians to adopt this smooth method of payment for various other transactions as well.”