Unocoin offers access to 120+ cryptocurrencies in 3 markets: USDT, BTC, and INR. Maker and Taker fees are 0.2% and 0.3%, respectively.
The platform provides crypto loans with Bitcoin as collateral up to 50% of the BTC value.
Unocoin; An Introduction to the Exchange
Unocoin, founded in July 2013, was the first cryptocurrency exchange in India. The company was first headquartered in Tumkur, Karnataka, and later moved to Bengaluru.
Companies from 5 countries, including Digital Currency Group, BoostVC, Blume Ventures, and Mumbai Angels, have invested in Unocoin Technologies Private Limited. Key features of Unocoin:
- Founders: Abhinand Kaseti, Harish B V, Sathvik Vishwanath, Sunny Ray
- Processed more than INR 30B worth of transactions
- Over 85.73M orders processed
Unocoin Specific Features
The crypto exchange offers various services, including Crypto Wealth Club (portfolio management), Elite Club (priority support and VIP events), and a paper wallet (offline crypto storage).
Exchange | Unocoin |
Launch Date | 2013 |
Levels | No |
Trading Fees | Maker 0.2% Taker 0.3% |
Restricted Countries | Only available in India |
Supported Coins | 120+ |
Futures Trading | No |
Minimum Deposit | INR 100 |
Deposit Methods | INR (Instant Deposit, NEFT, RTGS, IMPS, UPI), Crypto |
Withdrawal Methods | INR (Instant Deposit, NEFT, RTGS, IMPS, UPI), Crypto |
Maximum Leverage | 1:1 |
Minimum Trade Size | N/A |
Security Factors | Paper Wallet, AES-256 Encryption, 2FA |
Services | P2P Trading, OTC Market, Spot, Systematic Buying Plan, Crypto Basket, Earn Program |
Customer Support Ways | Email, Phone Center |
Customer Support Hours | Monday through Friday from 9:30 am to 6:30 pm |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | No |
User Levels
We must mention in this Unocoin review that the platform doesn’t provide user levels and fee reductions.
This can be a disappointment for high-volume traders. However, the exchange does offer some special programs for active traders:
- Elite Club: For users who maintain high trading volumes
- Crypto Wealth Club: Premium services and benefits to top traders
Unocoin Fees and Commissions
The exchange charges various fees for Instant Buy/Sell. Also, a government levied IGST of 18% will be charged on the transaction fee.
Coin | Buying Fee | Selling Fee |
BTC | 0.5 | 0.5 |
ETH | 0.7 | 0.7 |
USDT | 0.7 | 0.7 |
Unocoin has implemented a straightforward maker-taker fee structure for spot and peer-to-peer (P2P) trading.
- Maker Fee: 0.2%
- Taker Fee: 0.3%
Unocoin Exchange Digital Assets
The platform lists over 120 cryptocurrencies and offers trading pairs in three markets, including INR, USDT, and BTC. Some popular digital assets available on Unicoin:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Stellar (XLM)
- Basic Attention Token (BAT)
- Dogecoin (DOGE)
Leveraged Trading
We must mention in this Unocoin review that it does not offer leveraged trading options.
This decision aligns with the exchange's focus on providing a safe and straightforward trading environment, particularly for newcomers to the crypto space.
Unocoin Exchange Account Opening and Verification
The platform requires users to verify their email address, phone number, residential address, and ID before trading.
- Visit the exchange’s official website;
- Click “Create Account”;
- Provide a valid phone number and set a strong password;
- Enter the OTP sent by SMS;
- In the profile setup page, add your selfie and verify your email address;
- Enter PAN details and provide proof of address.
Unocoin Security Factors
The exchange prioritizes security by offering multiple innovative features like Paper Wallet.
- Paper Wallet: An offline method for storing and managing cryptocurrencies
- AES-256 Encryption: Encrypting address-private key pairs using AES-256 encryption
- Multi-Location Storage: Storing encrypted keys in multiple safe deposit lockers at different locations
- Two Factor Authentication (2FA): Enabling 2FA for an additional layer of account security
Unocoin Exchange Payment Methods
The platform offers several payment methods for Indian users to deposit and withdraw INR as well as cryptocurrencies.
- INR: Instant Deposit, NEFT, RTGS, IMPS, UPI
- Cryptocurrency
The minimum deposit amount for NEFT, RTGS, and IMPS is INR 1000/day, and the minimum Instant Deposit amount is INR 100/day.
The maximum deposit amount for NEFT/RTGS/IMPS is INR 10.5M/day, and for Instant Deposit, it is INR 200K/day.
While crypto deposits are free of charge, withdrawals incur a variable network fee based on the digital asset.
Unocoin User Satisfaction
There are not many Unocoin reviews on reputable platforms, such as CoinGecko. There are only 11 comments on the Unocoin Trustpilot profile, and they are mostly negative.
- Trustpilot: 2.3 out of 5
- JustDial: 3.6 out of 5 based on 313 ratings
Investment and Growth Plans
Unocoin offers several investment and growth plans, including the Earn program, Crypto Baskets, Systematic Buying Plan (SBP), Shake & Earn, and Referrals.
- Earn Interest: Up to 7% APY on USDT holdings
- Crypto Baskets: Over 17 crypto portfolios
- Systematic Buying Plan (SBP): Automating the process of purchasing cryptocurrencies over time with no transaction fees
- Shake & Earn: Crypto rewards by shaking mobile devices
- Affiliate: Referral commissions for inviting new clients
- Crypto Lending: Instant cash loans against Bitcoin collateral up to 50% of the BTC value with a 15% annual interest rate
Writer's Opinion and Conclusion
Unocoin provides offers BTC, ETH, and USDT instant buy/sell with fees of 0.5%, 0.7%, and 0.7%, respectively.
The exchange accepts INR transactions via NEFT, RTGS, IMPS, and UPI. It has a rating of 2.3 out of 5 on Trustpilot.