Unocoin Review - Top 5 Features to Know Before Trading in 2020

Anisa Batabyal
| 28 July, 2020 | 2 min

What is Unocoin?

Unocoin is an Indian cryptocurrency exchange and wallet that allows users to buy, sell and store digital currencies. It is a leading bitcoin company founded in July 2013. Unocoin has successfully served around 1,200,000+ customers. The USP of Unocoin is its unique feature that allows users to purchase bitcoin systematically through Systematic Investment Planning (SIP).

Unocoin also has a mobile app for its users that enables them to buy, sell, store, accept and use bitcoin on the go.


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Unocoin Review:

  1. Fees:

  • Trading fees: 

Unocoin applies a maker and taker approach to identify the fees to be charged for exchanging cryptos. The trading fees are determined depending on the type of order placed by the user. As of now, a 0.4% fee is charged to the maker and 0.6% to the taker.

  • Deposit fees: 

Unocoin charges 1.9% as deposit fees to the user using Net Banking or PayU money.

  • Withdrawal fees:

Crypto withdrawals on the platform are not charged.

  1. Supports Fiat currency: 

Being an India based crypto platform, it allows users to buy and sell digital assets using INR. Currently, Unocoin only supports verified Indian residents.

  1. Payment methods:

You can buy and sell cryptocurrencies through Unocoin by depositing money into your wallet.IMPS, NEFT, RTGS, Net Banking and PayUmoney are some of the ways through which users can quickly deposit money in their wallets

  1. Purchase limit:

There are two types of limits on the Unocoin platform which the user must know about before trading. First is the Maximum purchase limits per 24 hours which varies depending on the coin that you are trading.

The second limit applies after a minimum trading activity period of 60 days; if members have bought/sold a significant trade volume, they will be offered a “Gold Member” account at Unocoin. Gold members can buy up to 20 BTC per 24 hours and sell 10 BTC per 24 hours. However, other cryptocurrency limits for Gold members are the same as for standard members.

  1. Unocoin security:

Unocoin is a highly secure platform that uses AES-256 Encryption to encrypt its private keys which are then stored in multiple locations for enhanced security. It is also advisable on the part of users to enable 2FA and set a strong password to avoid loss and theft of information.

 

Unocoin is an Indian crypto exchange platform similar to Coin Switch, who has also launched its own crypto trading platform called Coinswitch Kuber on June 1, 2020. 

This platform is a mobile application which is user friendly. CoinSwitch Kuber is the first-ever mobile application to pool liquidity from other Indian and global exchanges and provide the best rates to the Indian market.

Coinswitch Kuber promises to give the best rates by aggregating liquidity across all Indian exchanges. The platform will support 100 cryptocurrencies for Indian users to trade easily using INR.

 

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!