Unocoin Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

Unocoin presents itself as an appealing option for those newly venturing into the cryptocurrency space, particularly in India where it has established a notable presence. The platform’s strength lies in its user-friendly interface and tailored services which make buying, selling, and storing cryptocurrencies relatively straightforward for beginners. Unocoin also offers unique features such as a Systematic Investment Plan (SIP) for Bitcoin, which is quite rare in the crypto exchange landscape and could be a considerable draw for regular investors.

However, the exchange is not without its drawbacks. Its fee structure can be on the higher side compared to other global players, which might deter the more cost-conscious users. Moreover, the variety of cryptocurrencies available is somewhat limited, which might not appeal to those looking to trade beyond the most common coins. Despite these concerns, Unocoin remains a solid platform, particularly for those in its primary market looking for an easy entry point into the world of cryptocurrencies.

Pros

Cons

3,9

Threenvest Score

Fees

0,20%/0,70%

U.S Legal

With the confidence of Threenvest

Year Founded: Established in 2013, Unocoin has been operational for nearly a decade, showcasing its resilience and sustained relevance in the rapidly evolving cryptocurrency market.

Security Methods: Unocoin employs robust security measures including two-factor authentication (2FA), a cold storage system for cryptocurrency assets, and SSL encryption, ensuring a high level of security for its users’ investments.

Reputation and Reviews: With a strong presence in the Indian market, Unocoin enjoys a positive reputation among its users and has been featured in numerous mainstream media outlets, highlighting its credibility and reliability.

Customer Service: Known for its dedicated support team, Unocoin provides timely customer service and support, which is crucial for new users navigating the complexities of cryptocurrency investments.

Volume Managed: Handling a significant volume of transactions daily, Unocoin demonstrates adequate liquidity, which is vital for users looking to execute trades efficiently without substantial price slippage.

Best Crypto Exchanges

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About Unocoin

Introduction

Unocoin is a prominent cryptocurrency exchange that has made a significant mark in the Indian digital currency market. As one of the earliest platforms tailored specifically for the Indian audience, it provides a straightforward and secure gateway to the world of cryptocurrencies.

What is Unocoin?

Unocoin is an online platform that enables users to buy, sell, store, and accept cryptocurrencies like Bitcoin. It was designed with the vision of simplifying Bitcoin transactions for its users and promoting blockchain technology across India.

Background and History

Founded in 2013, Unocoin has emerged from a small startup to a leading cryptocurrency exchange in India. It was initiated by a group of Bitcoin enthusiasts who aimed to build a more inclusive financial infrastructure in India. The exchange started at a time when Bitcoin was just beginning to garner attention globally and has since played a pivotal role in providing a platform for cryptocurrency transactions in India.

Founders

The exchange was co-founded by Sathvik Vishwanath, Harish B.V., Abhinand Kaseti, and Sunny Ray. Each founder brought a unique perspective and skill set to the table, blending technology and business acumen to drive the platform’s growth. Their shared vision was to make cryptocurrencies accessible to the masses in India.

Fun Facts

Unocoin was one of the first entrants in the Indian crypto market.
It has been recognized with several awards and accolades for its innovative services.
The platform was notably backed by investors such as Barry Silbert’s Bitcoin Opportunity Corp, among others.

Interesting Facts

Unocoin supports a Systematic Investment Plan (SIP) for Bitcoin, which is a novel feature among Indian crypto exchanges.
The founders have been part of various international discussions on cryptocurrency regulations, representing the Indian crypto ecosystem on global platforms.

Why Choose Unocoin?

Choosing Unocoin as your cryptocurrency exchange can be particularly beneficial for several reasons, especially if you are based in India or are new to the world of cryptocurrencies. First and foremost, Unocoin’s user interface is exceptionally friendly to beginners, making it easier for newcomers to navigate their first purchases or sales of cryptocurrencies. This simplicity is crucial in lowering the entry barrier for new users.

Moreover, Unocoin offers unique investment features like the Systematic Investment Plan (SIP) for Bitcoin, which allows users to invest in Bitcoin regularly without the need to time the market. This kind of feature is ideal for investors who wish to build their holdings gradually and mitigate the risks associated with the volatility of cryptocurrency prices.

Lastly, the platform’s focus on security and customer service provides users with the assurance that their funds are handled safely and that support is readily available. These aspects of Unocoin make it not just a transactional platform but a reliable partner in the journey into cryptocurrencies. For those looking to start with a trusted, straightforward, and supportive platform, Unocoin is a commendable choice.

Where it falls short

High Transaction Fees: Unocoin charges fees that are above average compared to other global exchanges. This can deter more active traders and cost-conscious investors from using the platform extensively. To improve, Unocoin could consider restructuring its fee model to offer more competitive rates, possibly by introducing tiered pricing based on user activity or volume. This change could attract a broader user base and increase transaction volumes, making the platform more dynamic and competitive.

Limited Cryptocurrency Variety: Currently, Unocoin offers a limited selection of cryptocurrencies, which might not satisfy users looking to explore less mainstream or newer digital currencies. Expanding its cryptocurrency offerings would not only cater to a wider range of interests and investment strategies but also position Unocoin as a more comprehensive crypto exchange. By partnering with more coin networks and enhancing its technological infrastructure, Unocoin could provide more diverse trading options to its users, thereby retaining current users and attracting new ones.

Features	Explanation
Minimum Trade	Unocoin offers a relatively low minimum trade amount, making it accessible for beginners to start trading without requiring a significant initial investment.
Trading and Transaction Fees	The platform’s fee structure is on the higher side, which might be a deterrent for those looking to maximize their returns on smaller trades.
Number of Cryptocurrencies	Unocoin supports only a limited selection of major cryptocurrencies, which may not satisfy users interested in a broader array of options.
Crypto-to-Crypto Trading Pairs	Offers some crypto-to-crypto trading pairs, but the options are not as extensive as those available on larger international platforms.
Website Transparency	The website provides clear information regarding fees, policies, and security practices, aiding users in making informed decisions.
Credit/Debit Card	Unocoin lacks an exchange card, limiting flexibility and benefits for users looking to utilize crypto for everyday transactions.
Storage Offering	Offers secure storage solutions including cold storage, which provides a high level of security for users’ digital assets.
Staking and Rewards	Limited staking options are available for certain cryptocurrencies, providing users with an opportunity to earn rewards on their holdings.
Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed, making trading accessible at home or on the go.
Customer Service	Provides a decent level of customer service with support available through multiple channels, though response times can vary.
Deposit and Withdraw	Supports a variety of deposit and withdrawal methods, but fees and processing times can be a drawback for some users.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As one of the analysts here, I recommend considering Unocoin if you’re starting out with cryptocurrencies, especially if you are based in India. The platform is user-friendly, making it less daunting for beginners to navigate the crypto space. Additionally, Unocoin’s unique offering of a Systematic Investment Plan for Bitcoin sets it apart, providing a structured way to invest in Bitcoin. However, keep in mind the higher transaction fees and the limited selection of cryptocurrencies, which might be limiting if you’re looking to explore a wide range of crypto assets.

Fees

Unocoin’s commission structure is designed to facilitate easy entry into the cryptocurrency market, yet it’s important for users to be aware of the costs involved. The platform charges a fee for buying and selling cryptocurrencies, which can be considered slightly higher compared to other global exchanges. These fees are typically a percentage of the transaction value, and while they ensure the platform’s operational efficiency and security, they may impact users looking to execute frequent trades or those with smaller budgets. Understanding these fees is crucial for effective financial planning and maximizing potential returns from cryptocurrency investments.

Pros

Simple percentage-based fees: Unocoin's fee structure is straightforward, charging a fixed percentage on transactions, which makes it easy for users to calculate the cost of trades without confusion.
No hidden charges for basic trading: The platform is transparent about its fees, ensuring that users are not surprised by additional costs beyond the stated transaction fees.
Fee transparency on transactions: Unocoin clearly outlines its trading fees on the website, helping users to understand exactly what they will be charged when they make a transaction.

Cons

Higher than average fees: Compared to other global exchanges, Unocoin's fees are relatively high, which can diminish the returns on investments, especially for frequent traders.
Costs may deter frequent trading: The higher fee structure might discourage users from making frequent trades, potentially reducing liquidity and the attractiveness of the platform for active traders.

Product selection

Unocoin provides a range of services and products designed to meet the needs of its predominantly Indian user base, making it a versatile platform for both beginners and experienced cryptocurrency enthusiasts. Key offerings include the ability to buy, sell, and store popular cryptocurrencies like Bitcoin and Ethereum. Unocoin also stands out with its unique Systematic Investment Plan (SIP) for Bitcoin, which allows users to invest fixed amounts regularly, akin to traditional SIPs in the stock market. Additionally, the platform offers a mobile app for trading on the go, ensuring users can manage their crypto investments conveniently. These services make Unocoin a comprehensive platform tailored to the needs of Indian crypto investors.

Pros

Systematic Investment Plan for Bitcoin: This feature allows users to invest in Bitcoin systematically, mimicking traditional investment plans, which is great for those looking to invest regularly without having to time the market.
Dedicated mobile app for convenient trading: Unocoin’s mobile app makes trading and managing cryptocurrency investments convenient and accessible from anywhere, appealing to users who prefer mobile access.
Secure storage options for cryptocurrencies: With robust security measures like cold storage and SSL encryption, Unocoin ensures that users' digital assets are kept safe, giving them peace of mind.

Cons

Limited range of cryptocurrencies: Unocoin offers only a handful of cryptocurrencies, which might not satisfy users interested in trading lesser-known or newer digital currencies.
Lacks advanced trading features: The platform doesn’t support advanced trading tools such as futures, options, or margin trading, which can be a drawback for more experienced traders looking for comprehensive trading functionalities.

Read more about product selection in Unocoin

Unocoin stands out in the Indian cryptocurrency market with a suite of services and products designed to accommodate both novice and seasoned investors. Here’s a detailed overview of what Unocoin offers:

Systematic Investment Plan (SIP) for Bitcoin: This unique feature allows users to invest a fixed amount in Bitcoin at regular intervals, similar to traditional stock investment plans. This is particularly beneficial for those who want to mitigate the risk of market volatility.
Mobile App: Unocoin’s mobile application facilitates trading on the go, providing users with full access to buy, sell, store, and manage their cryptocurrency portfolio from anywhere, enhancing convenience and accessibility.
Secure Wallets: The platform offers digital wallets that provide secure storage for cryptocurrencies. Using robust encryption, these wallets keep user assets safe from unauthorized access.
Bitcoin Trading: Users can buy and sell Bitcoin, along with a few other major cryptocurrencies, though the variety is somewhat limited compared to larger international platforms.
Merchant Gateway Services: Unocoin offers a merchant gateway service that enables businesses to accept Bitcoin as payment, broadening the utility of Bitcoin and encouraging its adoption as a payment method.
Crypto Basket: An innovative tool that allows users to diversify their investments across multiple cryptocurrencies with a single click, based on pre-set or custom baskets.
OTC Trading: For high-volume traders, Unocoin provides an Over-The-Counter (OTC) trading service, which offers a more private and personalized trading experience.
API Access: For developers and professional traders, Unocoin offers API access that allows them to build custom tools and interfaces for trading and managing cryptocurrencies.
Referral Program: Users can earn extra by referring new users to Unocoin, which incentivizes community growth and platform loyalty.
Educational Resources: Recognizing the need for better understanding and adoption, Unocoin provides resources and guides to educate users about cryptocurrency and blockchain technology.

While Unocoin offers a robust selection of services aimed at enhancing user experience and adoption, it still lacks in offering a broader range of cryptocurrencies and advanced trading options like derivatives and futures, which are available on more global platforms. This can limit users who wish to explore beyond the basics of buying and selling the most common cryptocurrencies. However, for those primarily interested in Bitcoin and basic crypto investments, Unocoin serves as a tailored and secure gateway.

Account opening

Opening an account with Unocoin is a straightforward process designed to welcome users into the world of cryptocurrencies with ease. The process starts with a simple sign-up on the Unocoin website or through their mobile app, where you’ll need to provide basic personal information such as your name, email address, and phone number. Following this, Unocoin requires users to undergo a verification process, known as Know Your Customer (KYC), which involves submitting identification documents like a PAN card and proof of address. This step is crucial for ensuring security and compliance with regulatory standards. Once verified, users can immediately start funding their accounts and trading cryptocurrencies. The platform’s commitment to a user-friendly interface and clear instructions makes it accessible even for those new to digital currencies.

Pros

Straightforward and quick setup: New users can easily navigate the sign-up process, which is designed to be user-friendly.
Robust KYC verification: Ensures security and compliance, building trust in the platform’s legitimacy.
Immediate trading post-verification: Once the KYC process is completed, users can start trading almost instantly.

Cons

Read more about account opening in Unocoin

Opening an account and getting started with Unocoin is designed to be straightforward, especially for those who may be new to cryptocurrencies. Here’s a detailed guide on how to navigate through these initial steps: How to Sign Up on Unocoin:

Visit the Unocoin website or download the mobile app: Start by accessing Unocoin through its official platform.
Register for an account: Click on the ‘Sign Up’ button and fill out the registration form with your email address, phone number, and a password.
Email and phone verification: Verify both your email address and phone number through the confirmation links and codes sent to you.

Opening An Account:

Complete KYC (Know Your Customer) requirements: You will need to submit personal identification documents, such as a PAN card and an address proof (like a utility bill or bank statement). This step is crucial for compliance with regulatory standards.
Await verification approval: The KYC documents will be reviewed by Unocoin’s team, which can take a few hours to a couple of days depending on the volume of applications.

How to Buy Your First Cryptocurrency:

Fund your account: Once your account is verified, deposit funds into your Unocoin wallet. You can do this via bank transfer or other available payment methods.
Purchase cryptocurrency: Navigate to the ‘Buy’ section, select the cryptocurrency you wish to purchase, enter the amount, and confirm your transaction.

Account Types:

Basic Account: Allows for simple buying and selling of cryptocurrencies with a set transaction limit.
Premium Account: Offers higher transaction limits and lower fees, available to users who frequently trade larger amounts.

How to Use Unocoin?

Trading: Use the platform’s interface to trade cryptocurrencies. The dashboard provides market data and transaction history to help you make informed decisions.
Storing: Your purchased cryptocurrencies are automatically stored in your Unocoin wallet, which is secured with best practices.

Registration and KYC:

Security protocols: Ensure that all the data you provide is secure through end-to-end encryption.
Regulatory compliance: Unocoin follows KYC and anti-money laundering guidelines to prevent fraudulent activities.

This process, designed with ease and security in mind, helps ensure that even those new to cryptocurrencies can navigate buying, selling, and managing their investments confidently and safely. Remember, the next section will detail how to deposit money, so keep your bank details handy if you haven’t already set up that part of your account.

Security

Unocoin prioritizes security as one of its core aspects to ensure a safe trading environment for its users. The platform incorporates multiple layers of security protocols to safeguard user assets and personal information. These include two-factor authentication (2FA), which adds an additional layer of security beyond just the username and password, and cold storage, where the majority of the cryptocurrencies are stored offline to reduce the risk of hacking. Additionally, SSL encryption is used to secure users’ data during transmission, protecting sensitive information from potential cyber threats. Overall, Unocoin’s security measures are robust, designed to provide peace of mind for both novice and experienced traders in the volatile crypto market.

Pros

Robust Two-Factor Authentication (2FA): Enhances account security by requiring a second form of verification.
Cold Storage of Assets: Majority of cryptocurrencies are stored offline, significantly reducing the risk of hacks.
SSL Encryption: Protects data transmission, ensuring that user information and transaction details are secured against interception.

Cons

Is Unocoin Legit?

Unocoin is widely recognized as a legitimate cryptocurrency exchange, particularly within the Indian market where it has been operating since 2013. It adheres to local regulations and has established a significant user base, underpinning its reputation as a trustworthy platform for buying, selling, and storing cryptocurrencies.

Regulation and Licensing

While the regulatory landscape for cryptocurrencies in India has experienced fluctuations, Unocoin continues to operate in compliance with existing laws and guidelines provided by Indian authorities. The exchange works diligently to stay aligned with legal changes, ensuring its operations remain legitimate.

Is Unocoin Safe?

Unocoin employs several security measures to protect its users:

Two-Factor Authentication (2FA): Provides an additional layer of security, requiring users to verify their identity through two different methods before accessing their accounts.
Cold Storage: The bulk of the cryptocurrency holdings are stored offline in cold storage wallets, which are inaccessible via the internet and thus protected against online hacking attempts.
SSL Encryption: All data transmitted between the user’s device and Unocoin servers is encrypted using SSL technology, preventing data theft during transmission.

Security Methods

In addition to the above, Unocoin regularly updates its security protocols to address emerging threats and vulnerabilities. This proactive approach is essential in maintaining a secure trading environment.

History

Throughout its operation, Unocoin has maintained a strong security record with no significant breaches reported. This track record contributes to its reputation as a safe platform for cryptocurrency transactions.

Why It Is a Secure Crypto Exchange

The combination of regulatory compliance, robust security measures, and a clean historical security record makes Unocoin a secure choice for cryptocurrency traders, especially those in India. By adhering to these standards, Unocoin ensures that its users’ investments are protected to the best of its ability.

Conclusion

Unocoin’s commitment to security, combined with its adherence to regulatory standards, makes it a solid choice for users looking for a reliable and secure cryptocurrency exchange. While the lack of some advanced security features or insurance coverage may be seen as a downside, its existing measures provide a strong foundation for user security. For users prioritizing a secure trading environment with regulatory compliance, Unocoin is a commendable option.

Customer service

Unocoin’s dedication to customer service and user feedback is an integral part of its operation, aiming to ensure a positive experience for all its clients. The exchange provides a range of customer support options including email support, phone support, and a comprehensive FAQ section on their website that addresses common queries and issues. This level of support is particularly beneficial for newcomers to the cryptocurrency world who may need guidance on various aspects of trading and account management. The response times are generally satisfactory, though there can be delays during periods of high demand or market volatility. Overall, Unocoin’s effort to maintain responsive and helpful customer service plays a crucial role in its reputation among users.

Pros

Multiple Support Channels: Offers support through email, phone, and a detailed FAQ section, providing varied options for users to seek help.
Helpful for Beginners: Especially supportive for new users with guides and straightforward explanations that facilitate easier navigation and understanding of the platform.
Responsive Support: Generally provides timely responses, helping users resolve issues quickly to ensure a smooth trading experience.

Cons

Read more about customer service in Unocoin

For Unocoin’s customer service section, the exchange has set up various support mechanisms to assist users effectively. Here’s an in-depth look at each aspect:

Customer Support

Channels Available: Unocoin offers support through email and phone, providing direct ways for users to get assistance with any issues. The platform also hosts a comprehensive FAQ section that covers a wide range of topics, helping users find quick answers to common questions.
Accessibility: The support services are designed to be accessible to all users, ensuring that even those new to cryptocurrencies can receive the help they need.

Reputation and Customer Feedback

User Reviews: Feedback from users generally highlights satisfaction with the support provided, particularly noting the helpfulness of detailed FAQs and the accessibility of phone support for more immediate concerns.
Community Engagement: Unocoin actively engages with its user base through social media and other platforms, fostering a community where users can share feedback directly with the exchange.

Contact Methods

Email and Phone: These are the primary methods for contacting Unocoin’s support team. While the exchange does not offer a live chat option, the available methods aim to cover both quick and in-depth inquiries.
Response Time: Typically, Unocoin responds to emails within 24 hours. Phone support is available during business hours, providing a quicker option for urgent issues.

Overview of Support Efficiency

Efficiency: The response times are generally efficient, though they can extend during periods of high demand or specific market events. The support team is trained to handle a range of issues, from technical problems to transaction inquiries, ensuring comprehensive user support.

Additional Considerations

Multilingual Support: Considering Unocoin’s diverse Indian user base, offering support in multiple languages could enhance accessibility and user satisfaction. Currently, support is primarily in English.
Potential for Improvement: Introducing a live chat feature could significantly improve the immediacy of support, providing real-time solutions and making the platform even more user-friendly, especially for resolving quick, simpler issues.

By maintaining a robust customer support framework, Unocoin ensures that users receive necessary assistance promptly, contributing to a trustworthy trading environment. This setup not only aids in immediate problem resolution but also builds long-term user trust and platform reliability.

Is Unocoin Right for You?

Are you a beginner or casual trader? Unocoin is particularly suited for those who are new to the world of cryptocurrencies or those who plan on engaging in casual trading. Its user-friendly interface and straightforward transaction processes make it easy for beginners to navigate. If you’re looking for a simple, no-frills platform to start your crypto journey, particularly with Bitcoin, Unocoin could be a great fit.
Do you prioritize security and compliance? For users who place a high emphasis on security and regulatory compliance, Unocoin stands out. With robust security measures like two-factor authentication, cold storage for digital assets, and SSL encryption, as well as adherence to local regulatory guidelines, Unocoin ensures a secure trading environment. If these aspects are high on your list, Unocoin should be considered.
Are you primarily focused on major cryptocurrencies? Unocoin supports a limited range of cryptocurrencies, focusing mainly on the most popular ones like Bitcoin and Ethereum. If your interest lies primarily in these major cryptocurrencies and you are not looking to explore much beyond them, Unocoin could serve your needs well. However, if you’re keen on diversifying your portfolio with a wider array of lesser-known coins, you might find Unocoin’s offerings too restrictive.

These points should help you evaluate whether Unocoin aligns with your cryptocurrency trading needs and preferences, ensuring you choose a platform that matches your investment strategy and comfort level.

Unocoin compared to other crypto exchanges

Threenvest score

3,9

Fees

0,20%/0,70%

US Legal

–

Security

High 4,6/5

On the exhange website

Threenvest score

4,8

Fees

≤0,10%

US Legal

Security

High 4,9/5

binance us

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

Unocoin primarily serves the Indian market and is tailored specifically to meet the needs of traders within this region. Available Cryptocurrencies on Unocoin include some of the most prominent and widely traded digital assets such as Bitcoin (BTC) and Ethereum (ETH), which are the main focus of the platform. These offerings cater to the core demand of the market, providing access to the most established cryptocurrencies. However, Cryptocurrencies Not Available that might be significant for some users include newer or less mainstream tokens such as Cardano (ADA), Polkadot (DOT), and smaller altcoins that have gained popularity for their innovative technology or potential use cases. Traders looking to explore a broad array of emerging cryptocurrencies might find these limitations a critical factor. Regarding geographical accessibility, Unocoin operates Exclusively in India, making it an excellent option for Indian residents who can benefit from local payment methods and customer support tailored to their needs. Countries Where Unocoin is Not Available include the United States, United Kingdom, and other major economies outside India. Residents of these countries cannot open accounts with Unocoin, as the platform has not expanded its services beyond Indian borders. This focus ensures that Unocoin remains compliant with Indian regulations and can tailor its services to the specific needs and preferences of its local user base, but it does limit its accessibility for potential international users.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Bitcoin Cash (BCH)
EOS (EOS)
Cardano (ADA)
Stellar (XLM)
TRON (TRX)
NEO (NEO)
Monero (XMR)
Dash (DASH)
Zcash (ZEC)
Dogecoin (DOGE)
NEM (XEM)
Binance Coin (BNB)
VeChain (VET)
Tezos (XTZ)
Bitcoin SV (BSV)
Ethereum Classic (ETC)

Main countries where you can open an account

India

FAQs

1. What cryptocurrencies can I trade on Unocoin?

Unocoin offers trading in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH) among others. The platform focuses on providing access to the most established and widely used digital assets.

2. How do I start trading on Unocoin?

To begin trading on Unocoin, you need to create an account, complete the KYC (Know Your Customer) process, and then deposit funds into your account using the accepted methods like NEFT, RTGS, IMPS, or UPI. Once your funds are credited, you can start buying or selling cryptocurrencies.

3. What are the trading fees on Unocoin?

Unocoin charges a percentage-based fee for buying and selling cryptocurrencies. The exact percentage can vary, but generally, the fees are known for being on the higher side compared to other global exchanges. Detailed fee information is available on Unocoin’s website.

4. Is Unocoin secure for trading cryptocurrencies?

Yes, Unocoin uses robust security measures including two-factor authentication (2FA), cold storage of the majority of crypto assets, and SSL encryption to secure users’ data and funds. These features help in providing a secure trading environment.

5. Can I access Unocoin on my mobile device?

Absolutely, Unocoin offers a mobile app that is available for both Android and iOS devices. The app provides a full range of trading functionalities, allowing you to buy, sell, store, and manage your cryptocurrency portfolio from anywhere.

6. How long do withdrawals take on Unocoin?

Withdrawal times can vary depending on the method used and the bank’s processing times. Typically, withdrawals are processed within 24 to 48 hours. However, it is recommended to check the status directly through your Unocoin account for real-time updates.

7. Does Unocoin support international users?

Unocoin currently operates exclusively in India and does not support account openings for users outside of this country. It is tailored specifically to meet the needs and regulations of the Indian market.

Final opinion on Unocoin

At Threenvest, we recognize Unocoin as a pivotal player in the Indian cryptocurrency market, particularly valued for its user-centric approach that caters specifically to the needs of Indian investors. The platform’s strength lies in its simplicity, making it an ideal choice for newcomers to the crypto world. Unocoin’s offerings of popular cryptocurrencies like Bitcoin and Ethereum, along with a secure environment featuring robust measures such as two-factor authentication and cold storage, provide a reliable foundation for users looking to explore the crypto space safely.

However, compared to other global exchanges, Unocoin shows certain limitations, particularly in its variety of available cryptocurrencies and the scope of its trading features. The platform’s fee structure, while transparent, is notably higher than many of its competitors, which could be a deterrent for more active traders. Despite these drawbacks, for those within its operational region, Unocoin offers a solid entry point into cryptocurrency trading. For our readers at Threenvest looking to engage with crypto markets, particularly those new to this space and residing in India, Unocoin represents a dependable and straightforward option, though it is essential to weigh these factors against personal trading needs and expectations.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.