Unocoin Continuity Plan

Dear customers,

Given the outbreak of COVID-19 pandemic, we are aware that many of our customers will be concerned about the on-going services that we provide at Unocoin. We are closely monitoring the information released from government bodies and amending our business operations accordingly. Based on the same, all of our staff will work from home from 23rd March onwards.

The disaster recover plans designed at Unocoin includes our measures to be taken during such pandemics as well. With the limited amendments to the same that we had to do since a few days, Unocoin is now in a position to provide uninterrupted services to their customers for an extended period of time.

We stand by our commitment to provide the services with in the same time frames as before and will continue to assess the situation so that we can take proactive measures as and when necessary. We thank you for your continued patronage with us. If you have any questions please feel free to write to us on [email protected]

Team Unocoin

Unocoin has now started accepting INR deposit and withdrawal requests

Post verdict from the Supreme Court that slashed down the notice issued by RBI to banks on 06 April 06 2018, Unocoin is pleased to announce that it has started to accept INR deposit and withdrawal requests. Our bank account information for deposits have changed. Please make a note of our new bank account details on the page where the INR deposit request is created. Also, the customers are requested to update their bank account information if there are any changes to it. INR deposits are anticipated to happen in 2 working hours while the INR withdrawals would need one working day. We are now working on reducing these times with deeper integration to the banking system and providing instant deposits and withdrawals in the future.

While we anticipate a sudden surge in the need for customer service, we are in the process of ramping up our efforts and human resources. Customers are requested to co-operate while we come up to the mark in the next couple of weeks.

– Team Unocoin

Introducing Instant Loans From Unocoin

What the internet did to communication and networking, cryptocurrencies have been doing to finance since their inception. The world was treated to a new trading revolution as well, with Bitcoin and the several hundred cryptocurrencies being traded on crypto exchanges globally. Investors around the world have found crypto assets a sound investment decision. But their value extends beyond just trading. Cryptocurrencies, though volatile, offer a decentralized, transparent, and secure interface for a variety of financial uses. The hottest one on the block right now seems to be crypto-backed lending.

Crypto assets and lending 

Lending and credit facilities have been traditionally offered by banks and financial institutions globally. The loans so offered:  

  • have to be backed by collaterals such as stocks, shares, gold, property and others.
  • involve considerable formalities and paperwork
  • are inflexible and 
  • accompanied by high-interest rates and penalties in case of non-payment


Courtesy the exciting era we live in, we’re witnessing a digital revolution in lending and payment practices as well. With blockchain tech and cryptocurrencies quickly becoming a popular and widely adopted mode of digital investment, conventional assets and stocks have a competition to deal with. Currently, the total value of the bitcoins in the world stands at $154 billion and that of the bitcoin together with other cryptocurrencies equals to $210 billion. The potential of these crypto-assets lies untapped and unleveraged hugely. There is tremendous scope for credit creation by using these crypto-assets as collaterals to get a (USDT)  loan. This Avant-garde concept is becoming fast popular in the crypto circles but still at a nascent stage. Bitcoins and altcoins are fast becoming an alternate option as collateral for obtaining loans. 


Unocoin, is India’s First cryptocurrency exchange trusted since 2013, seeks to harness the untapped leverage of Bitcoin. Which is why it’s launched a lending portal offering loans backed by crypto assets to its users. A pioneering name in crypto-trading, Unocoin’s new lending portal will form a quintessential part of its ecosystem helping its users to self-sustain their financial needs backed by their own crypto-assets. 

What makes Unocoin lending a win-win deal? 

Unocoin intends to grant loans in USDT and in INR to verified users against pledged collateral in bitcoin. USDT is stable coin (1 USDT is pegged to 1 USD) and if the users opt for INR, then it can be withdrawn to their bank account. Bitcoin has regularly outperformed itself with the exception of a few dips in its value and is the most seamless, liquid and universally accepted cryptocurrency. Loans backed by crypto assets powered by Unocoin score over the conventional borrowing routes helping the investors manage their investments, fund their expenses and even plan their tax routines using the customisable and easy-to-obtain loans. Let’s have a look:  


  • Quick and simple: Unocoin lending’s USP lies in the fact that it is not based on any P2P lending model where the users negotiate the terms of the loan with each other or attempting to utilize a network of brokers. It initiates the loan procedure through a secured dashboard exclusively available to its verified users instantaneously. Once verified, the users need to: 
  1. Go to the lending section and transfer their BTC or enter the amount of USDT required to the lending account.
  2. The amount so transferred will automatically be used to fill the loan order for a new loan or pay the EMIs of an existing loan.  
  3. The collateral amount (in bitcoins) required to get an x amount of loan in USDT will be greater than the total value of x.   
  • Customisable and Flexible: Borrowers have the option of paying their loan and interest in easy monthly instalments of 3 to 36 months. They can also go in for the flexible route and customise their own repayment schedule. Unocoin does not posit any restrictions on repayment time under the flexible option. The loans can be secured as a micro-finance by an individual or by a firm to procure funds. In case a borrower pays the loan early, no penalties are charged and the collateral is released immediately to the respective wallet. Multiple loans can be borrowed and kept active at a particular point in time. 
  • Transparent and secure: Banks and conventional financial institutions often involve hidden charges and high-interest rates, Unocoin lending does not involve any hidden charges. The loan to value ratio is explicitly denoted along with the interest rates once a verified user uses their BTC to be submitted as collateral, or the loan amount in USDT on their personal dashboard. User can enjoy real-time updates and notifications about their current loan status and value of the collateral. Unocoin, assures complete security to the verified user. 
  • Cost-efficiency and leverage: A crypto asset holder can use their assets to gain loans and enjoy the increase in the value of his assets. Since Unocoin lending involves cryptocurrencies as collateral, the ownership remains intact with the borrower. The user need not sell their holding and enjoy an increase in the value of their holding in future.  
  • Flexible usage: The loan amount can be withdrawn to be used for multiple purposes such as:
  1. To diversify the investments further and manage risks
  2. To trade on securities and cryptocurrencies
  3. To pay-off daily expenses or fund a vacation
  4. To close another loan with a higher rate of interest
  5. To fund a business
  6. To buy a home

Unocoin lending aims to synthesise the unsought benefits of cryptocurrencies besides trading. Through the simple yet effective interface, it intends to ease up the loan application process by making the users decide their loan amount and terms of repayment given the amount of the collateral. Bitcoin and blockchain, as disruptions in the IoT, initiated a digital revolution. Unocoin lending intends to further the revolution as a mainstream lending phenomenon to be adopted universally.  When are you getting started?


P.S: We have a stable coin called TUSD that is being listed on our exchange with its wallet enabling customers to deposit and withdraw it. We will be sunsetting the TUSD on exchange and its deposit on 31st of March 2020. The withdrawals will be suspended by the end of April and our users are requested to withdraw their TUSD tokens before 30th April 2020.

In reply to the #ProofOfKeys movement

Dear users,

The digital asset trading platforms like Unocoin/Unodax act as a custodian of the digital assets that their users choose to trust with them either for parking those digital assets or for trading/exchanging those digital assets. The customers trust that the digital assets are safe on the exchange but will not have any way to know for sure without attempting to withdraw their digital assets. However, because not every user will withdraw the funds at the same time, the exchanges may work with partial reverses and go unnoticed. The #ProofOfKeys is a movement started which requested all the users of exchanges to withdraw the digital assets to their own wallets on 2nd of Jan 2019 which is on the 10th birthday of bitcoin. This feat is quite a challenge to make it happen as it needed every user of every exchange to withdraw their digital assets to their own wallets – it has both practical and technical challenges at the user end to overcome. Since 2013, Unocoin has been tirelessly serving the Indian digital assets community with one of the main goal:  security. @CryptoKanoon has raised a set of general concerns and have solicited official comments from Indian exchanges and here are our comments about the same. We sincerely appreciate @CryptoKanoon’s efforts in this direction and we are glad to find an opportunity to address these concerns as these are also the general concerns of a knowledgeable user of any exchange. 

  1. About user digital asset holdings: We declare that our crypto holdings are equal to or more than the total user’s holdings. (Will be more due to company stocks that we sell from and we buy into from our customers on Unocoin and due to fee we collect on Unodax for certain exchange pairs). We never use these funds to trade or lend ourselves and never send these funds abroad for what so ever reasons.
  2. Simultaneous withdrawals: If all users were to withdraw their digital funds at the same time, we will be able to process all of the transactions within 1 business day.  The 1 business day delay is because this would need authorized people at Unocoin to invoke the digital assets that are behind extra safeguards (which are only possible on a business day and during business hours) as we keep 99%+ of our customer’s funds in cold storage.
  3. Auditing: Although it is difficult for users to verify our claims above, it is impossible for Unocoin to declare the individual user accounts without sacrificing privacy. We conduct periodic audits of our platform by internationally recognized security firms, and our company auditor performs the periodic auditing of digital asset balances. We also are willing to undergo any external audit by a reputed auditing firm like one of the Big fours if needed (even if it is initiated by one of our own users).
  4. Our support: We are in full support of the proof of keys movement and believe that every user has the right to know the status of their funds. As the technology evolves over time and if there emerges a method to prove the holding claims in a way that it won’t sacrifice the security and privacy of involved stakeholders, we are willing to employ the same.

While we do our best to provide the best in class security measures to safeguard our user’s data and their funds, it is important to note that the users also need to understand and employ the best security practices to safeguard themselves at their end. Kindly take this opportunity to read (or re-read) our guidelines here

– Team Unocoin

An update regarding BCH Hardfork

Dear Customers,
Unocoin believes in delivering the services which hold the best of our customer’s interests and keeping that in mind Unocoin is ready for the Upcoming BCH hard fork which will take place on 15th November.
 The BCH fork is expected to split into ABC Chain and SV Chain and a possible 3rd chain.
ABC chain will introduce non-backward compatible upgrades including two new operation codes and canonical transaction ordering and SV chain will restore more original operation codes and increase the maximum block size.
Unocoin will support ABC chain as it will be the more valuable chain with the greatest hash support. Believing it to be the dominant chain, Unocoin will support ABC.
We will halt all BCH deposits and withdrawals from Thursday, 15th November 8 PM IST in the interest and security of assets holders and the same would be resumed once the dominant chain becomes stable and secure. Unocoin will extend its active support which will ameliorate crypto ecosystem.
– Team Unocoin