What is Unocoin?
Unocoin.com is India’s most popular bitcoin wallet and exchange. Based in Bangalore, a state in India, the trading platform came into existence in the year 2014. The firm provides a comfortable and secure way to buy, utilize and accept bitcoin. It is one of the bitcoin wallet broker services which allow users to purchase and sell bitcoin. Unocoin is established for users to enable exchange Bitcoin for Indian Rupees (INR). It charges 1% fee to purchase or sell bitcoin and aims to loom as a top global player in the field of Bitcoin and wishes to contribute to the Indian economy.
It was released in mid-December 2013, at the Global Bitcoin Conference in Bangalore. The founders of Unocoin are Abhinand Kaset, Harish B V. Sathvik, Vishwanath and Sunny Ray. Unocoin was founded with a mission “to bring Bitcoin to billions,” i.e., it aims Bitcoin to spread all over the world and emphasize people to utilize the same.
Unocoin has around 1, 50,000 satisfied customers and 350+ million of the total revenue. It has become a cutting edge for Bitcoin revolution in India. One of the prominent bitcoin investor Barry Silbert invested 2, 50,000 USD in Unocoin which is the first bitcoin investment in the country. After three years, the company has withdrawn more than 30 top investors from 5 countries. After using Unocoin for certain extended period and a significant transaction of volume on the account, the user will be upgraded to a “Gold Membership”. The trading fee will drop down to 0.7% and the number of transactions will also increase.
Services and Process
Unocoin has still many services to include on the list. Few of its present services are as follows;
The user can set up double authentication by utilizing Google authenticator. He must also have a mobile phone to generate a unique six-digit code which enables users to log in and spend funds. It is available for Android, iOS devices, and Blackberry devices.
The user can choose to receive email notifications regarding the activity on his account. To receive notifications, He must go to account settings > Settings. Then he can easily enable notifications for all deposit, withdrawal, and purchase/sell bitcoin.
Before purchasing Bitcoin from Unocoin exchanger, the user must register his account with Unocoin. The process registrations are given below: –
Visit this link to register: https://www.unocoin.com/register
Step 1:- The user must click on the Sign-up icon to create Unocoin account.
Step 2:- In the second step, the user must enter a valid email address and create a password for his Unocoin Bitcoin wallet. Hence the user must click on the box provided and click on Sign up button.
Step 3:- On clicking the Sign-Up button; a pop message will appear on the screen. The user must hit OK button to close it.
Later-on a user must access his email inbox and open email received from Unocoin team with respective Bitcoin wallet registration. The user must click on the verification link and generate a new page on a web browser.
Step 4:- The user must read terms and conditions for using Unocoin bitcoin wallet and then click on “I Accept” button. Further, the user will receive a message for successfully registering on Unocoin.
Step 5:- After registration, the user must click SIGN IN link provided on the tab menu and enter his email id and password.
Step 6:- On clicking the SIGN IN button, the user will reach to profile settings page.
He can enter all the profile details. The user must fulfill all the details such as bank details, PAN card number, and mobile number then hit the next button to proceed.
Step 7:- Now the user must upload scanned copies of his documents such as Aadhar card copy, PAN Card and address proof.
Here, he can review all the details and press save documents button. The user has completed the registration. He must wait for 1-2 days for verifying his accounts and then start trading on the same.
Step 8:- A notification will appear on user’s Unocoin dashboard which will state that the account is still in the verification process and will vanish once the accounts get verified.
Step 9:- For any kind of query, a user can tap on support option as mentioned on the screen.
The following message is displayed on the official website.
“INR deposits and withdrawals through bank accounts are temporarily disabled as per RBI directive dated April 6, 2018.”
This is because of RBI ban on Cryptocurrency in India. They are trying to find an alternate solution. But as of now, only crypto assets trading can be done on the exchange.