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You can now recharge your FASTag wallet with bitcoin through Unocoin

Unocoin is supporting recharge for 17 FASTag operators, even as the legality of crypto in India is questionable

Crypto exchange Unocoin is allowing its users to recharge FASTag wallets using bitcoin, the company announced in a blog post. FASTag, the electronic toll collection system operated by the National Highway Authority of India, has been mandatory at all toll plazas in the country since January 2021. Unocoin currently supports 17 FASTag operators and a top-up starting from a minimum of Rs 100 to a maximum of Rs 10,000, the company said. The crypto sector is unregulated in India but that has not dented the aspirations of millions of Indians who view crypto as an emerging asset class. India recently ranked second in terms of crypto adoption among 154 countries, as per the 2021 Global Crypto Adoption Index by Chainalysis, a blockchain data platform. What else can you use crypto for? India: In India, crypto is yet to be directly accepted by any major company due to regulatory uncertainty. However, platforms like Unocoin and Bitrefill allow customers to use crypto to buy gift vouchers that can be used at hundreds of brands. Unocoin also allows its users to recharge phones and pay bills using bitcoin, but it supports this by converting the crypto to Indian rupees and settling with the merchant rather than paying the merchants directly in crypto. Globally: While many crypto traders treat crypto as a speculative asset rather than a medium of payment, the number of companies accepting crypto as payment has risen rapidly over the last couple of years. Globally, some of the big companies that accept crypto…

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