Unocoin Review 2021: Is Unocoin A Safe Exchange?

The Unocoin Wallet is a prominent cryptocurrency exchange for bitcoin cash with a momentous record of over 1.5 million clients. The trading orders for user-invested exchanges have been around 8.82 million to date. The Unocoin crypto exchange intends to render Bitcoin coins to billions of users. The Indian transaction firm wants to evolve into a prominent cryptocurrency enterprise in India and gain its footing in potent international marketplaces. The peculiar feature of the technology website Unocoin is its simplified curation of Bitcoin POS processing, a lucrative offer for offline trading operatives. The Unocoin cryptocurrency exchange has conceptualized an advanced trader passageway for buying bitcoin in the FinTech realm. In this Unocoin review, we will focus on how it works, its main features, the pros, cons of the site, and a lot more.

Unocoin Summary

Headquarters India
Found in 2013
Native Token None
Listed Cryptocurrency 30+
Trading Pairs N/A
Supported Fiat Currencies INR
Supported Countries India
Minimum Deposit Rs1000
Deposit Fees 1.90%
Transaction Fees Takes Network Fee
Withdrawal Fees Depends on currency
Application Yes
Customer Support FAQs, Mail, Live Chat, Phone, & Submit Form

What Is Unocoin?

Unocoin is India’s leading bitcoin exchange firm that permits Indian exchange investors to trade Bitcoin cash. The investors through the platform can utilize, buy and sell orders and market Bitcoin exchanges. The true nature and focus of the Unocoin Wallet are in the prospect of becoming an eminent player in the global markets. It is centered in crypto-assets on an international market level rendering the funding process to Indian users and multinational clients.

It started operations in the year 2013 and launched as a pioneer in the Bitcoin realm. It is presently based out of the metropolis of Bangalore, India. The Indian established digital currency group has revolutionized as a digital assets platform to buy Bitcoin tokens and Ethereum (ETH) tokens at the current market stance.

To warrant enhanced services, the Unocoin cryptocurrency exchange platform has added varied elements to its exchange system. The Unocoin Wallet intends to promote the most high-grade reliant and guaranteed exchange platform trading assistance to users. Their contribution to the cryptocurrency exchanges expanse will advance the trading realm as their peculiarities are created to provide the most suitable cryptocurrency system.

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About Unocoin Regulation

The nation of India still doesn’t have final clearances on Indian users trading Bitcoin and other cryptocurrencies. This makes the trading platform an unregulated exchange platform. Presently, buying bitcoins is not restricted yet by the Indian government, and thus FinTech investors can engage in trades as it is available for exchange pursuits.

Features of Unocoin 

It is India’s leading BTC exchange firm. Here are a few features you would like to know if you want to begin trading on this platform.

Crypto Trading

Unocoin Wallet has holdings of prominent tokens of Bitcoin (BTC), Ethereum (ETH), and US Dollar Tether (USDT). For novice traders who are hesitant on the trade exchange can choose the amount of fiscal money in INR they would like to finance. It has prompt service and helps the exchange of buying and selling coins.

Wallet

This peculiarity allows users to buy crypto tokens and store coins in a varied selection of over 40 Unocoin Wallets. The trading platform’s wallet trait will enable the user to track past trades and assets and instantly initiate withdrawals and deposits.

KYC Verified

As the security features are paramount, the Unocoin wallet administers a two-step KYC verification mandate. The user is enabled into the Unocoin trading account only if the delivered OTP on the user’s mobile device is produced while registering on the platform.

SBP Functionalities

The Systematic Buying Plan (SBP) peculiarity of Unocoin is a compelling method to earn ETH and BTC profits. This peculiarity assists in economic conformity that equates the user’s cost and thus reduce uncertainty. This trait enables users to credit better profits.

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Lending Hallmarks

The Lending characteristic of Unocoin permits users to administer their BTC tokens as a debt to pay USDT/INR against it. The feature is profitable for instant exchanges when the trading position is lucrative and operates as a loan operative. The payout can be done in monthly installments without the fear of losing BTC holdings.

Crypto Exchange Data

In regards to exchanges, Unocoin assists users in scouting for the ideal set of sellers and buyers under their order book landing page. The bidding rates are detailed out on lists making the settlements of exchanges a fair deal.

Services Offered by Unocoin

According to their official website, Unocoin offers the following services to its users.

Imposes Low Fees

Users can avail modest competitive trading fees in the ecosystem. They offer a high volume exchange profit of 50 assets.

A Reliable Trading Exchange

Unocoin has been employing cryptocurrency services for Indian users since 2013. The Unocoin team has executed a strong stance to keep trades of crypto ongoing in the country.

API Powered

Unocoin Wallet gives users the autonomy to efficiently avail real-time market trading insights. This trait is executed by their API functionality that lets users have the ability to avail the characteristics of a programmatic trading AI tool through a reliable trading platform.

Reserve Funds

As the platform administers the most profitable and economical trading prices, more users have adopted Unocoin to orchestrate exchanges that aren’t tight on the pocket safely.

Preserves Trading Time Execution

As the Unocoin wallet renders a simplistic interface through mobile applications on iOS, Android, and through their website, the trades are instant. This peculiarity is enhanced with its API client service.

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Google Two-Factor Verification

The Unocoin app renders a two-step Google verification conformity for more effective protection measures.

Paper Wallets of BTC

The platform allows users to create offline paper wallets with the access of a private key pair or a public key pair. These paper wallets can then be printed or saved in a secure system. The multiple addresses are created with the customer’s client-side Javascript. This peculiarity of Unocoin enables the companies to record the generation and know the address of your browser.

Real-time Notifications

The trading website enables users to receive real-time notifications on their devices for deposited assets, withdrawals, and trades. The email notifications can be granted access to the trading platforms’ activity setting features.

Unocoin Review: Pros and Cons

Pros Cons
Unocoin Wallet has a distinguished liquidity benefit.  The verification process of Unocoin is not easy to navigate and is strenuous. 
The Bitcoin tokens of the Unocoin platform are stored in a latency reserve for high security. Bitcoin is the only digital asset token in possession of the digital currency group. 
The Bitcoin community can easily navigate the trading platforms’ interface and orchestrate transactions.  Costly Bitcoin prices and Transaction Fees compared to other crypto exchange platforms. 
The company Unocoin website has a notable trading reference application.  The customer care for users investing and for trades is moderated with inadequate benefits. 

Getting Started With Unocoin

Creating an account on Unocoin does not take much time; all you have to do is follow the easy steps mentioned below:-

Step 1

For registration on the Unocoin platform, visit the trading platform website: https://Unocoin.com. Select the Account button on the screen.

Step 2

Add details of the contact number and the password to be recorded.

Step 3

An OTP will be sent by the website that needs to be added. The terms and conditions need to be reviewed before signing up. After adding the OTP is verified, the user is directed to the Profile Setup landing page.

Step 4

The last step is to verify details such as PAN card, contact number, and legit address information records to gain admittance to Unocoin.

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Unocoin Fees

Presently, the FinTech space in India is not yet regulated due to its unresolved clearances on digital assets. Yet, digital trading assets operate unregulated and are legal constructing exchanges that are free of cost to trade within the country. However, the Indian government imposes a tax on exchange fees which are around 18%. The trading fees for a standard user are imposed with a compensation rate of 0.7 by the Unocoin cryptocurrency exchange, whereas for gold membership users, the trading fee is at 0.5%.

There are no fees imposed for users who are either sending or receiving cryptocurrency on the platform. There are also no fees instructed on users for buying cryptocurrency and requesting it on other wallets that are not Unocoin. For digital assets exchange on the FinTech companies website, the fees imposed are 0.4% as a maker fee and 0.6% as a taker fee.

For the accommodation of crypto assets on the Unocoin platform, there are no instructed fees. The platform networks exchange fees for receiving crypto assets are 0.01 for ETH currency, 0.02 for LTC Tokens, 0.0002 for BTC coins, 0.0001 for BCH, 0.15 for XRP, and 0.001 for BTG currency, a few potent exchanges. However, to check the complete fee structure of Unocoin exchange at the official site.

Accepted Payment Method

The crypto community who would like to avail the hallmarks of the bitcoin app can transfer payments through Mobikwik Wallet. This functionality allows customers to create instant transactions and deposits. The Mobikwik Wallet links fiat currency INR to access the customer’s debit card, credit card, and online banking account. They can then directly utilize the Mobikwik Wallet to authorize exchanges on Unocoin with a fee of 2% deducted from the customer’s funds.

Supported Countries and Currencies

The Unocoin Wallet supports potent currencies of BTC, USDT, and ETH. The country that can buy bitcoins, ETH, or other digital currencies on the Unocoin application is Indian bank account users from the Indian subcontinent.

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Unocoin Wallet

Unocoin Wallet is the best wallet that permits customers to acquire, trade, reserve stocks, and accept digital tokens. Users of Unocoin are allowed to copy paper wallets and buy-in BTC multiple addresses to their respective individual addresses. The wallet can be used to withdraw the currency exchange of BTC and transfer it to their traditional fiscal wallets. The Wallet is available for trading and investing in different digital forms such as Android, Online website, and iOS platforms.

The wallet is well protected and has an easy-to-navigate user interface. Customers can profit from the wallet by utilizing the Unocoin hallmark of a Systematic Buying Plan (SBP) functionality to make the BTC acquisitions computerized. The SBP conformity renders a price for hedging and facing the unprecedented market ecosystem of crypto exchanges.

Unocoin Security

The security peculiarity of the Unocoin wallet is that it upholds offline storage conformity for the user endowments held on the trading platform. The offline storage of stocks is produced on a computing system with no connectivity power to be online. Hence there is less or almost no risk of hackers interfering. It employs a transaction address and renders dual private keys that are encrypted applying the AES-256 compliance. This security processing locks the trading envelopes and collects the funds in varied deposit lockers regulated by the platform. These functionalities are imposed to ensure hackers undertake no illicit trading pursuits on user funds.

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The AES-256 conformity of private keys effectively enhances security in the customer’s multiple safe deposit lockers. In the case of an illicit trading affair or an unfortunate security breach of digital funds, then AES-256 will make sure that the digital assets are well guarded. For amplified security measures, the platform elects a proceeding offline web address for the customer’s pursuits.

The wallet is merited with features such as the Google Authenticator Code ordeal. In this conformity for enhancing protection, the user can avail the two-factor coding verification system that isn’t shared with any third party. The platform also advises only to use an HTTPS website of Unocoin to ensure the trading activity is private and a hacker can not breach the asset records.

Unocoin Customer Support

To render support for the customers Unocoin wallet, this is the email address- [email protected] that you can be reached out to. The user needs to request a specifically curated ticket conformity to gain assistance from the Unocoin Team. Before the request, the user needs to choose the mentioned classifications on the trading platform to help the platform assist and render help for the trading pursuits. The priority of customer care, high, medium, or low, can also be elected.

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Unocoin Review: The Final Verdict

Unocoin is one of the cryptocurrency exchange in India to buy cryptocurrency. This Indian platform to sell bitcoin ‘Unocoin Wallet’ has the best trading and Unocoin technologies for clients to avail from. Users can buy and sell Bitcoin Cash, and its interface is structured for novice traders to operate the trading process efficiently. The services rendered by the Unocoin app will be developed going forward, adding more digital asset currencies to its portfolio for a more comprehensive adoption rate.

FAQs

Is Unocoin Safe?

The user needs to request a specifically curated ticket conformity. Before the request, the user needs to choose the mentioned classifications on the trading platform to help the platform assist and render help for the trading pursuits. The priority of customer care, high, medium, or low, can also be elected.

Is Unocoin Legal in India?

Presently, Bitcoin trades are not authorized by the Indian legislative authorities, and thus there are no restrictions for cryptocurrency trades in the country.

How Do I Withdraw Money From Unocoin?

Once INR is withdrawn from the user’s wallet, the proceeds are sent to the bank account. The bank account details should be added to the Unocoin wallet in the bank account settings on the platform. In the Withdraw section of the platform, enter the value of INR exchange for withdrawal and confirm the authorization. The money is then processed in the user’s bank account.

Is Unocoin Hacked?

An anonymous culprit hacked Unocoin in the year 2017. The investors’ funds were hacked, and the BTC funds were exchanged out of the platform. The money of 1.2 lakhs was lost in a black hole.

How Can I Add INR to My Unocoin Account?

To add INR user funds to Unocoin Wallet, the user needs to visit the ‘Deposit INR’ landing page after the user logs into the trading platform. The traditional fiscal amount should be entered in, and the authorization for the deposit order should be actioned. The exchange of INR to Unocoin is done using NEFT/RTGS/IMPS from the user’s linked account. The reference number is permitted that allows the exchange to be completed, and the number needs to enter in the Deposit INR landing page at the section of Deposit Order. The exchange from INR to Unocoin’s bank account will be processed within 3 to 24 hours after the fiscal transfer has been actioned.

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