Unocoin Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100 INR
- Web platform
- Mobile application
- Algorithmic trading is available
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 100 INR
- Web platform
- Mobile application
- Algorithmic trading is available
Our Evaluation of Unocoin
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Unocoin is a high-risk cryptocurrency exchange with the TU Overall Score of 2.82 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Unocoin clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Unocoin ranks 150 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Unocoin is a trusted cryptocurrency exchange that has been providing services to citizens and residents of India for many years. It allows you to start trading cryptocurrencies with a small investment amount, and also offers passive income options in the form of an affiliate program and holding digital coins.
Brief Look at Unocoin
Unocoin is an Indian exchange that was established in 2013 and currently services over 2.3 million traders. The list of available assets includes over 80 cryptocurrencies and tokens. In addition to market and limit orders, the exchange also offers advanced order types, such as Split, Ladder and Stack. The fees for buying/selling assets depend on the 30-day trading volume and the type of the order opened by a trader. Traders with large trading volumes pay zero fee (makers) or 0.3-0.5% fee (takers). A deposit can be made from a verified bank account and only in Indian rupees. The minimum is 100 INR, the maximum is 200,000 INR per day.
- Extensive experience – the exchange was registered in July 2013;
- The minimum deposit is affordable even to cryptocurrency trading beginners;
- The exchange provides loans for different periods for buying assets;
- Free withdrawal of fiat to a bank account;
- Possibility to earn money on holding USDT in your wallet;
- No fee for storing cryptocurrencies;
- Affiliate program, welcome bonus and coupons for various purposes.
- Indian rupee (INR) is the only available fiat money;
- Only citizens and residents of India can create an account;
- Zero trading fees are available only for makers with a trading volume over USD 2,000,000.
TU Expert Advice
Financial expert and analyst at Traders Union
In order to become a Unocoin client, you have to pass identity verification by providing the photos of your Aadhaar card with the identification number of citizen/resident of India. You also need to verify your personal bank account number. You will be able to deposit funds to your account only once you’ve completed these steps. A client can send fiat money on any day and time, but the amount will show on your account balance only after the bank confirms the transaction.
The exchange issues loans at 15% for an amount from 100 USDT to 70,000 USDT. Two options are available: EMI plan for 3-36 months, and FLEXI plan that does not have any restrictions on repayment time. The loans are issued against collateral in bitcoin. Unocoin accepts deposits only in Indian rupees. A trader uses rupees to buy cryptocurrency he can use further for transactions with other coins on the platform for spot trading.
The exchange sets limits for daily turnover: a trader with the Standard status can buy up to 10 BTC and sell no more than 2 BTC. If the client’s 30-day trading volume exceeds 100 BTC, the client becomes a Gold Member, which provides an opportunity to reduce the trading fee and increase the available limits.
Unocoin Summary
| 💻 Trading platform: | Web platform for TradingView charts, mobile apps for Android and iOS |
|---|---|
| 📊 Accounts: | Standard, Gold |
| 💰 Account currency: | INR |
| 💵 Replenishment / Withdrawal: | Bank transfer, National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), Unified Payment Interface (UPI), Immediate Payment Service (IMPS), cryptocurrency wallets (only withdrawal) |
| 🚀 Minimum deposit: | 100 INR |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Commission: | 0%-0.5% for makers, 0.3%-0.5% for takers |
| 🔧 Instruments: | Over 80 cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market, Limit, Stop Loss, Stop Limit, Ladder, Stack, Split |
| ⭐ Trading features: | Algorithmic trading is available |
| 🎁 Contests and bonuses: | Coupons for free crypto coins or a fee discount, welcome bonus for referrer and referral |
You can replenish an account on Unocoin only in Indian rupees; withdrawal is possible in INR and cryptocurrencies. The exchange offers proprietary platforms and supports various order types. Leverage is not provided.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 5$ — for taker and maker | A fee is charged on withdrawals in cryptocurrencies |
| Gold | 0$ — for maker 3$ — for taker |
A fee is charged on withdrawals in cryptocurrencies |
In order to determine how competitive the Unocoin fees are, we compared them with the fees of popular crypto exchanges Bitfinex and Bybit.
| Broker | Average commission | Level |
|---|---|---|
|
$3.3 | |
|
$20 | |
|
$0.1 |
Investment Options
Unocoin clients can earn passive income by holding (staking) cryptocurrencies in their wallets. The exchange offers loyal conditions for the minimum investment amount, which is why any registered trade can use this option. Unocoin also pays referral rewards, if a client’s referral link is used for registering at the exchange. Large makers that place orders to buy/sell various assets in the order book receive a percentage of the monthly turnover.
Earning on staking and the program for market makers
Overall, Staking is similar to a bank deposit. This is how it works on Unocoin crypto exchange: a trader deposits 5,000-10,000 USDT and locks them for a period from one day to 24 months, i.e. does not use the funds for trading and doesn’t withdraw them. Unocoin pays interest for that. Automatic extension is available for staking, which means that the entire investment amount and the profit amount are transferred to the next period after the current locked period expires.
Staking interest for different locked periods:
3% for a period from 1 to 30 days;
4% — from 31 to 60 days;
4,5% — from 61 to 90 days;
5% — from 91 to 182;
6% — from 183 days to 12 months;
7% — from 366 days to 24 months.
The exchange offers the Market Maker program for traders trading big amounts. Under its conditions, traders with a 30-day trading volume from USD 2 million to USD 5 million receive a reward in the amount of 0.1%, which is USD 2,000-5,000. The reward percentage is discussed individually with traders whose turnover exceeds USD 5 million.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Unocoin Affiliate program
The referral reward of Unocoin is 15% of the fees paid by the referred users to the exchange. Also, in 2022, a referrer gets INR 100 worth of BTC for each referral.
In order to participate in the Refer and Earn program, a client of Unocoin must share the link to the exchange with a trader interested in trading cryptocurrencies. This can be done via SMS, WhatsApp, email, and Airdrop (for iOS devices). If a trader registers at the exchange using a referral link, he becomes a referral. After making the first deposit, a referral gets a welcome bonus – INR 100 worth of BTC.
User Satisfaction