Unocoin Announces Maker Bonus in Bitcoin!

For every trade on Unocoin Exchange, earn 0.3% of the trade value in bitcoin.

Note: Applicable only for makers (who brings liquidity to the order book). Makers will be awarded 0.3% in BTC to their wallet for each executed trade.

Ever since bitcoins (and other cryptoassets) gained popularity, trades and transactions have been on a one-way trajectory. Trading cryptoassets is not a new concept of course, but there’s still plenty of room for new innovations and ideas in the industry!

Unocoin, India’s own cryptoasset exchange, too has promoted trading and transactions using cryptoasset. Recently, as we discussed earlier, Unocoin launched a multi cryptoasset exchange (with an open order book), which supports around 6 coins — including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ripple, Ethereum, and Litecoin as well. This whole setup operates on a “Maker-Taker” model, commonly followed by financial institutions across the globe.

While we’ve touched on the concept of “Maker-Taker” earlier, let’s recap it for you.

Makers vs Takers

Say, we have two individuals, Alice and Bob. They can place two kinds of orders:

  • Limit orders, in which one can specify their price to execute the trade at. The transaction will only go through when the condition put on the price is fulfilled.
  • On the other hand, one can also place a market order, with the current best price, the trade is immediately completed upon the availability of the volume. However, there is no guarantee that the price will remain the same in the time it takes to complete the transaction. Your order will simply be matched to whatever open orders are there on the exchange.

If Alice places a limit order, she is introducing more money (or liquidity) to the market, as the order is put on the queue. She is thus called a maker.

Now we have Bob, who places a market order which will immediately be executed if there’s an open order on the exchange — like Alice’s for example. Since this kind of order takes the liquidity off the market, he will be the taker.

This model provides the user with many benefits — the user is allowed to change the queued orders, or even cancel it. They can easily go with the market trends and fully utilize trading benefits.

Unocoin’s New Fee Offer!

Unocoin originally offered near rock-bottom fees of 0.4% to makers and 0.6% to takers on the launch of its exchange. But it isn’t done yet!

In an industry (and possibly global) first, Unocoin is turning the tables in favour of the makers. Makers on Unocoin’s exchange will now earn 0.3% as the bonus on their transactions. And that’s not all — this fees will be paid… in bitcoin. So not only do makers stand to benefit from their trades, they’re being rewarded in potentially larger sums if bitcoin continues to rally the way it has!

The taker fee continues to remain low — at just 0.6% of the order value. There is absolutely no fee in storing the currency in your wallet.

In the context of Alice & Bob — here’s how this would work out:

  • Let’s say Alice places a limit buy order for 0.1 BTC @ Rs 6,00,000. The value of this transaction would, therefore, be Rs 60,000.
  • Bob comes into the picture. Let’s say he’s doubled the value of his holdings on bitcoins and has placed a market sell order to offload 0.1 BTC from his holdings.
  • This order gets matched with Alice’s, and gets executed. Alice is now the maker, and Bob the taker.
  • According to Unocoin’s new pricing model — Alice would be receiving 0.3% of the transaction value — that is, Rs 180 for this transaction. What’s more — this payout would be in the form of bitcoin itself, and not INR — which means she would make 0.0003 BTC (calculated using the last traded price at the moment of the transaction) for trading cryptoassets herself.
  • Bob on the other hand — would be subject to a nominal 0.6% — which translates into a fee of 0.6% — or Rs 360 — on the transaction.

So, go ahead! Open your Unocoin account, and get into the arena of trading. May the odds be ever in your favour!

Unocoin launches Multi-Cryptoasset Exchange

~ Multiple cryptoassets to include Bitcoin Gold, Bitcoin Cash, Litecoin, Ripple, Ethereum, and Bitcoin

~ As an introductory offer, Unocoin brings Zero percent trading fee till 28th February 2018

Bangalore, February 20, 2018 – Underlining its focus on ensuring seamless and convenient trading of digital assets, Unocoin, India’s leading cryptocurrency exchange, has now launched a new order-based trading feature on its platform as part of a suite of updates on its iOS and Android application. The new feature on the platform is currently built to support six major cryptoassets, i.e. Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). The Stellar (XLM) coin will soon be released and further plans to support trading of other crypto assets in the near future. Unocoin is also bringing an introductory offer under which there would be Zero percent transaction fee till 28th February, 2018.

The launch of the new updates, along with its existing Bitcoin trading services, further strengthens Unocoin offers for its users. The crypto-asset exchange aims to plug the surge in demand for digital asset trading by providing a highly transparent price discovery mechanism with minimal spreads between buyers and sellers through its enhanced platform. In addition, users will have the option of making both deposits and withdrawals in the corresponding crypto assets, thus enabling them to hold and transact digital assets in different crypto assets directly from their Unocoin wallet itself. With the adoption of the maker (fee 0.4%) & taker (fee 0.6%) model, the platform now also offers a reduced fee structure on purchase and sale of cryptoassets. In addition, users will now be able to take charge of price dictation, vouch for their desired price levels, and even trade beyond their daily limits through the new model 

Commenting on the launch, Sathvik Vishwanath, Co-founder, and CEO, Unocoin said, “Millions of Indians have already turned to digital assets like bitcoin as a reliable means to invest and transfer money. Therefore, the new Unocoin platform will bring a significant edge to both new, and existing users’ cryptoasset transactions, supported by a reduced fee structure on trades.” 

Incepted in 2013, Unocoin has been at the forefront of the bitcoin revolution in India. It was the first company in India to offer a full-featured mobile bitcoin app, with 24/7 access to real-time bitcoin market prices and instantaneous trading transactions. The company currently operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin.

Scan the below QR code or goto from your Android phone or iPhone to download the app and start using it.

About Unocoin: 

Started in 2013, Unocoin is a Bangalore based technology startup and is India’s first entrant into the cryptoasset industry. The company operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin. Every month, Unocoin processes transactions worth more than INR 2B for its 1Million+ customers. In just 4 years since inception, the company has drawn more than 30 top investors from 5 countries. Unocoin is responsible for industry-leading innovations such as the Bitcoin Systematic Buying Plan(SBP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The-Counter trading (OTC). In September 2016, Unocoin has raised $2 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. Funding was sourced from well-known Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital, Huiyin Ventures and FundersClub to move faster towards its vision of Making Money Simple through its mission Bringing Bitcoin to Billions. 

For further information, log on to:

Change in IFSC code for INR deposits

Dear customers,

Please mind the change in our bank details (specifically IFSC code) for your future INR deposits. Our new IFSC code is SBIN0016486. The change is due to the merger of two bank branches where we hold our account. Our account number remains the same.

Deposits made to the old IFSC code will not be received and recognised at our end.


Team Unocoin

Notice regarding the Segwit addresses

Dear Users,

We are thrilled to announce that Unocoin is rolling out Segwit enabled deposit addresses for all the verified clients from tomorrow (12.01.2018 – 12:00 p.m.).

  • All accounts created post 12.01.2018 – 12:00 p.m. will be provided with Segwit enabled deposit addresses by default.

  • Existing verified users can note their Segwit enabled deposit addresses (available under the BTC deposit section on the website & mobile app). Please mind the change in deposit addresses before making any transaction.

Note: All the legacy non-segwit addresses are supported for deposits for a brief period of time (31st March 2018). Please note that no action is required from the user end regarding this.

Revision to transaction fee when sending bitcoin

Dear Customers,

This is to inform you that due to the growing volume in on-chain transactions of Bitcoin has pushed Unocoin to increase the network fee from 0.0005 BTC to 0.0009 BTC per transaction to maintain prompt confirmation timings. This change will come into effect from 14th November 2017. Please be notified of this change in the network fee for your future transactions (Sending to bitcoin address).

However, transactions between Unocoin users (done via email addresses of the recipient) would be completely off-chain and are free.

Note: Bitcoin transaction network fee is the incentive to miners supporting the bitcoin network that validates and record your transaction on the blockchain and this fee does not go to Unocoin.

Update on 14th Nov: As the network fee dropped to managable levels, there wont be any change in the fee while sending out bitcoin to a bitcoin address. However, in the future, Unocoin shall collect a fee of 0.0005 to 0.0009 BTC (the fee is set dynamically depending on the network congestion and will be displayed while sending out the bitcoin to a bitcoin address) that is deducted from your Unocoin balance which is paid to the mining network that validates, processes and secures your transactions.