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Unocoin Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Unocoin logo
2.87
Crypto Head Rating
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The Bottom Line

Unocoin presents itself as a noteworthy player among crypto exchange platforms in India. It balances ease of use with a suite of features suitable for a wide spectrum of traders.

The emphasis on security, coupled with attentive customer service and a user-friendly trading environment, makes Unocoin a competent platform for those interested in trading digital assets within the Indian market.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Supports a variety of cryptocurrencies
  • User-friendly interface for beginners
  • Offers a mobile application for trading on the go
  • Provides a secure wallet service
  • Features like Systematic Investment Plan (SIP) in Bitcoin

Cons

  • Higher transaction fees compared to some other exchanges
  • Limited to Indian users only
  • Limited advanced trading features for professional traders
  • Customer support response can be slow
  • Withdrawal process can be time-consuming

Quick Summary

Headquarters Location Bengaluru, Karnataka, India
Fiat Currencies Supported INR
Total Supported Cryptocurrencies 107+
Trading Fees 0.20% - 0.30%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Mobikwik
Support Facebook, Twitter, Instagram, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Unocoin stands as a distinctive crypto exchange platform, with its roots firmly planted in the Indian market. Established with the vision to simplify the buying and selling of bitcoins, it has broadened its horizon to include a variety of digital assets, catering specifically to Indian users and their needs in the crypto sphere.

Unocoin homepage

As Unocoin continues to carve its niche in the Indian cryptocurrency space, its efforts to break down the barriers between traditional finance and the burgeoning world of crypto are evident. By focusing on the specific needs and preferences of its local user base, Unocoin has positioned itself as more than just an exchange; it’s a bridge to the digital economy for many Indians.

This commitment to catering to a growing market is reflected in the platform’s consistent updates and feature enhancements that aim to streamline the user experience and expand its reach within the diverse Indian market.

About Unocoin

Unocoin’s inception can be traced back to 2013, founded by a group of Bitcoin enthusiasts – Sunny Ray, Harish B V, Abhinand Kaseti, and Sathvik Vishwanath. This platform quickly evolved into one of the most popular cryptocurrency exchanges in India, driven by the burgeoning demand for digital currencies.

With support from renowned backers like Blume Ventures and Digital Currency Group, Unocoin has been at the forefront of the Bitcoin revolution in India, often referred to as the country’s leading Bitcoin company.

Unocoin features

The story of Unocoin is one of resilience and adaptability within a volatile market. Over the years, the exchange has navigated through a dynamic regulatory environment, often shaped by the Indian government’s evolving stance on digital currencies.

The journey of Unocoin reflects how crypto exchanges can thrive by being agile and responsive to market demands while fostering a community of users who are equally passionate about the future of digital finance. The founders’ collective vision has steered Unocoin through these shifting tides, enabling it to play a pivotal role in the mainstream acceptance of Bitcoin and other digital coins within India.

Unocoin has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram and YouTube.

Unocoin has a mobile app on both the Apple App Store and Google Play.

Unocoin Supported Cryptocurrencies

Unocoin supports trading on over 107 cryptocurrencies on their platform. This exchange currently supports 24 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Shiba Inu (SHIB)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Immutable (IMX)
  • UNUS SED LEO (LEO)
  • Cosmos (ATOM)
  • Bittensor (TAO)
  • Aptos (APT)
  • Filecoin (FIL)
  • Ethereum Classic (ETC)
  • Stacks (STX)
  • NEAR Protocol (NEAR)

View all cryptocurrencies Unocoin supports

  • 1INCH
  • AAVE
  • ALGO
  • ANKR
  • APE
  • AR
  • ATOM
  • AUDIO
  • AVAX
  • AXS
  • BAL
  • BAT
  • BCH
  • BNB
  • BONE
  • BRD
  • BTC
  • BTG
  • BUSD
  • CAKE
  • CELO
  • CELR
  • CHZ
  • COMP
  • COTI
  • CRV
  • CVC
  • DAI
  • DASH
  • DOGE
  • DOT
  • ENJ
  • ENS
  • EOS
  • ETH
  • FIL
  • FLOKI
  • FLOW
  • FTM
  • FTT
  • FUN
  • GALA
  • GALAV2
  • GLMR
  • GNS
  • GNT
  • GRS
  • GRT
  • GTO
  • HBAR
  • HNT
  • ID
  • INJ
  • KEEP
  • KNC
  • LEO
  • LEPA
  • LINK
  • LPT
  • LQTY
  • LRC
  • LTC
  • LUNA
  • MANA
  • MATIC
  • MKR
  • MOVR
  • MTL
  • NEAR
  • NEXO
  • NMR
  • OMG
  • PAC
  • PAXG
  • PAY
  • PEPE
  • QNT
  • QRL
  • RDN
  • REEF
  • REP
  • RSR
  • SAND
  • SHIB
  • SNX
  • SOL
  • STORJ
  • STX
  • SUSHI
  • SXP
  • TON
  • TRX
  • TUSD
  • UNI
  • USDC
  • USDT
  • VET
  • WAVES
  • WAX
  • WBTC
  • XLM
  • XRP
  • XTZ
  • YFI
  • ZEC
  • ZIL
  • ZRX

Trading Experience

Unocoin’s trading experience is tailored to accommodate both beginners and advanced traders. For newcomers, the interface is intuitive, offering a straightforward path to trade in major cryptocurrencies.

Meanwhile, seasoned traders can leverage advanced trading platform features to execute a variety of transaction types. Unocoin’s mobile apps ensure that users have the flexibility to trade on-the-go, while real-time market data aids in informed decision-making.

Unocoin’s trading experience is built around the needs of diverse trader profiles, from those taking their first steps in the crypto world to advanced traders seeking comprehensive tools for strategy execution. The platform’s advanced trading platform features include real-time market data and a variety of order types, which allow users to execute trades based on precise market movements.

Moreover, Unocoin’s mobile apps enable trading on the go, ensuring that users never miss an opportunity, whether they are using Android or Windows devices. The seamless integration of these features demonstrates Unocoin’s commitment to providing a robust trading environment that is accessible to all.

Unocoin exchange marketing

Unocoin Fees

Navigating through Unocoin’s fee structure reveals a strategic arrangement that balances the needs of beginner and high-volume traders. While transaction fees are formulated to remain competitive, Unocoin ensures transparency in every process related to deposits, withdrawals and trades.

The fees are designed to encourage trading, with various incentives for users who engage more frequently with the platform.

Unocoin’s fee model is designed to incentivise frequent trading while maintaining a fair structure for occasional users. The exchange has implemented a tiered fee system that benefits users based on their 30-day trading volume, encouraging a vibrant trading environment.

By avoiding a one-size-fits-all approach, Unocoin takes into account the diversity of its user base, offering different fee schedules that benefit high-volume traders and novice traders alike, promoting a healthy ecosystem where all types of users can participate in the crypto trading market without facing prohibitive costs.

Type Fee
Deposit Fee (Bank Transfer) 2%
Deposit Fee (Credit/Debit Card) 2%
Trading Fee 0.20% - 0.30%
Withdrawal Fee (Bank Transfer) 15 INR - 25 INR

Unocoin supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC compared to the industry average of 0.000075 BTC. So Unocoin has a fee that is above the industry average by 566.67%.

Security - Is Unocoin Safe?

When discussing security, Unocoin takes robust measures to protect its ecosystem. Adherence to AES-256 encryption standards ensures that digital assets and user data remain secure.

The verification process for new customers is stringent, reinforcing the exchange’s dedication to security. This is supplemented by features like safe deposit lockers for Bitcoin, adding an extra layer of security for users’ holdings.

Unocoin’s dedication to security is evident in its use of amplified security measures, such as adherence to AES-256 encryption standards. This commitment extends to the storage of digital assets, where safe deposit lockers and offline paper wallet features provide users with peace of mind.

The exchange’s verification process is also indicative of its stringent approach to security, requiring users to submit detailed bank account details and address proof documents, thus ensuring that all accounts are verified and secure. The platform’s continuous efforts to enhance security protocols reflect an understanding that trust is a key currency in the world of crypto exchanges.

Unocoin Customer Support

Customer support at Unocoin is geared towards a responsive and helpful service. Indian users can find solace in the dedicated customer service, which prioritises addressing user concerns swiftly.

Assistance is provided through multiple channels, including a robust support ticket system and direct contact avenues, ensuring that users can trade with confidence and receive the help they need when they need it.

The importance Unocoin places on customer support is indicative of its user-centric approach. Recognising that guidance and timely assistance are critical to a positive user experience, Unocoin provides a multi-faceted support system designed to offer help when and where it’s needed.

This proactive stance in offering assistance to users reflects an understanding that the quality of customer service can significantly impact traders, especially in an industry as intricate as cryptocurrency trading. Dedicated support channels ensure that users’ issues are addressed promptly, maintaining user confidence and satisfaction.

Unocoin support

Unocoin Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Unocoin

  1. Create Account - Visit the Unocoin website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Mobikwik

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Final Thoughts

Reflecting on Unocoin, it emerges as a crypto exchange with a singular focus on meeting the needs of Indian traders. It’s a platform where simplicity in trading cryptocurrencies goes hand in hand with a decent array of digital coins.

Whether one is a novice trader or an advanced trader passageway, Unocoin potentially offers a comfortable trading environment.

In a rapidly evolving global financial landscape, crypto exchanges are increasingly seen as the engines powering the shift towards digital assets. The role of platforms like Unocoin is crucial in shaping how individuals and businesses understand and use cryptocurrencies.

As the industry grows, the potential for innovation in trading, asset management, and financial inclusion is immense, with exchanges acting as the gatekeepers and facilitators of this digital revolution. Observations across the industry suggest a future where exchanges continue to adapt, offering a broader range of services and integrating more seamlessly with traditional financial systems.

Unocoin FAQs

Unocoin, a popular cryptocurrency exchange in India, implements a variety of security features to safeguard its users’ digital assets. These measures include AES-256 encryption for the storage of sensitive data, a robust verification process for new users, and a secure wallet for Bitcoin and other major cryptocurrencies.

Unocoin is backed by reputable investors such as Digital Currency Group and Blume Ventures, which enhances its profile as a trustworthy platform. However, users should always exercise caution and use strong, unique passwords for their accounts, and enable any additional security measures available, such as two-factor authentication (2FA).

Yes, Unocoin adheres to regulatory requirements and mandates a Know Your Customer (KYC) verification process for all its users. This process involves providing personal details, bank account details, and submitting address proof documents to comply with Indian government regulations.

The KYC process aims to prevent fraud and ensure the security of transactions on the platform.

Unocoin does charge transaction fees for trading cryptocurrencies on its platform. These fees contribute to the maintenance of the exchange’s infrastructure, customer service, and the provision of real-time market data.

Fees can vary based on the transaction type and the 30-day trading volume of the user, with maker transactions typically attracting different fees from taker transactions. It’s advisable for users to review the trading fee structure on Unocoin’s website or mobile apps before engaging in trading activities.

Unocoin’s privacy policy outlines how it collects, stores, and uses the personal information of its customers. The policy states that Unocoin takes the security of its users’ data seriously and employs advanced security measures such as AES-256 encryption to protect sensitive information.

The policy also covers the sharing of information with third-party service providers and specifies the circumstances under which information may be disclosed to comply with legal obligations.

To buy cryptocurrencies on Unocoin, you must first register and complete the KYC process. After verification, you can deposit INR via options such as bank deposit or Mobikwik Wallet.

Once your account is funded, you can buy Bitcoin or other supported digital currencies through the trading platform. Unocoin provides a simple process for users to execute transactions, with real-time market data to inform purchase decisions.

The time it takes for a withdrawal from Unocoin to be processed can vary based on several factors, including the type of withdrawal and the user’s bank. Generally, withdrawal requests are processed within standard banking hours and can take from a few hours up to a couple of business days.

Users are encouraged to refer to the Unocoin platform’s guidelines for specific withdrawal timelines and any potential service tax that might apply.

Unocoin charges various fees for its services, including transaction fees for trading and withdrawal fees when users wish to transfer their digital assets out of the platform. The fees can depend on factors such as the currency being traded, the INR trading pair, the 30-day trading volume of the user, and the type of transaction (maker vs taker).

It’s recommended that users consult the detailed price structure and fee schedule provided on Unocoin’s website for up-to-date information.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

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Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

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Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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