New coins on Unocoin

Unocoin has been the pioneer, but to be the best requires continual efforts. Unocoin has made sure that it strives to be the best crypto exchange. To keep up with its brand value, Unocoin: Crypto Ka Super App has developed multiple advancements in the past weeks.

With Unocoin, Indians can trade more than 88 crypto assets with a few taps. As per the timelines, on March 3rd – Solana (SOL) coin got listed on Unocoin, followed by the release of Algorand (ALGO) and Polkadot (DOT) coins on March 7th. Just in the next week, on March 16th, FTXToken (FTT) coin was listed, followed by Lepasa (LEPA) coin released on March 21st.

On March 28th, Enjin (ENJ), Decentraland (MANA), and SushiSwap (SUSHI) got listed on Unocoin. The internal team enabled the (Shiba Inu) SHIB -INR exchange pair. Shiba INU and Dogecoin are the two most popular meme coins extensively traded at Unocoin.

Unocoin welcomed the new financial year by hosting more coins on its platform. On April 6th, ApeCoin (APE), BNB, Compound (COMP), and Tezos (XTZ) coins were launched, followed by WAVES coin being listed on April 11th, TRON (TRX) on April 12th, and Audius (AUDIO), (Balancer) BAL and TONCOIN (TON) being listed on April 18th.

The latest addition to the crypto coins list is Avalanche (AVAX), Axie Infinity(AXS), Chiliz(CHZ), Terra (LUNA) and Zcash (ZEC). Also, the Zilliqa (ZIL) will support only Binance Smart Chain (BSC).

As of April 27th, the ZEC withdrawal is also enabled. For May 2022, CAKE, FIL, VET, Livepeer Token(ERC20), Flow Token (ERC20), and Helium (BSC) are listed, making the total number of coins to be 88 in total.

Guideline for listings of Coins, Tokens and Projects on Unocoin

At Unocoin, we strive to deliver the best crypto buying and selling experience to our Unocoiners. As the industry grows fast and unique, great projects bring significant changes. We want our tribe to invest in the best for their future – the future they believe in. We want to make sure Unocoin is that one platform for all your crypto investments.

As a crypto exchange, we advocate for decentralised, distributed and open blockchain projects. Our platform is built for anyone who wishes to list their project on Unocoin – anyone who believes in the future of a better financial system. That being said, with the growing number of crypto-related products emerging now and then, we usually include them on our platform. We want to enable our community members to explore multiple assets. Hence, we suggest crypto token generators and miners to list their crypto projects.

Here are some of the criteria we checklist while listing assets, tokens, coins, and projects on our exchange. However, the pointers are not just limited to these.

Token publishers must:

  • Have a viable product. 
  • Have an official authentic whitepaper. 
  • Be listed on major crypto data platforms like CoinMarketCap, CoinGecKo.
  • Have a user/community-based adoption. 
  • Have non-anonymous founders and team members.
  • Have a great team actively working on the project. (Active social media).
  • Have a proper project road map. 
  • Have a public tokenomics and vested interest of founders and team members.

Token publishers can also have an open-source code on a platform like Github. This is, however, optional.

While these are a few checklists we want to maintain while listing any projects, we also examine the extent of community adoption and authenticity of a project.

For any request to list your crypto project, please write to us at [email protected].

 

Thank you

INR 100 worth of BTC for free – No questions asked!

Unocoin has got you an offer this new financial year like no other! For every new user sign-up, you get INR 100 worth of bitcoin credited to your wallet as a welcome bonus. There is no better chance to start your crypto journey. The offer is still valid.

What is more:

  1. Refer your family to join Unocoin using your unique referral code. They get INR 100 worth of BTC for free on their sign-up + You get 15% of the transaction fee on every transaction they make.
  2. INR 100 worth of BTC for each sign up means INR 500 worth of BTC for a family member of 5. Sharing is caring. Grow your network.
  3. No need to
  • apply or redeem a coupon, or
  • pay the additional cost or
  • go through the lengthy online process or
  • stand in a queue or
  • go through the time-consuming documentation!

Get your verified Unocoin account now!

#CelebrateBitcoinWithUnocoin

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Disclaimer:

Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).

 

Crypto bits from Budget speech 2022-23

 

The Budget 2022 has given more light to the grey area of crypto space and India has taken a view that we want to treat it like assets and not like currency, so that it’s very obvious that any kind of transfers from one person to another is taxable. When it comes to such transfer of assets including sale of cryptos, income taxes are levied. This section of the Budget will be applicable for all sorts of Digital Assets and NFT’s.

  • 30% taxes applicable on profits from trading in crypto.

Profits made at the sale of crypto or NFTs will be taxable at 30% tax without any deductions or exemptions. It would no longer be considered as Short Term or Long Term Capital Gains. There is no minimum profits provided for exemption, no matter how small the profit is, it will be taxable under the 30% slab.

  • 1% TDS in order to record and monitor transactions

All the transactions will be taxed 1% as TDS. This is the Government’s approach to monitor all transactions happening in crypto space. This approach might prove to be slightly drastic for intra-day traders as they buy and sell on the same day and do multiple such transactions. The same traders will also be liable to pay 30% taxes on profit as well. This will also have its effect on the volume of transactions happening in crypto space within India. For the days to come, it might be a bad move from the government’s side to impose such high TDS, given some people are doing the transactions for small profits, especially for intra-day traders and short term investors. 

  • Gits will be taxable as well.

The gifts given to family or others were not taxable for fiat or any traditional asset, but when it comes to crypto, the crypto gifts will be considered for taxes and the recipient will be liable for taxes. It is unclear as to if the recipient should pay taxes considering the acquisition cost of those assets or if the entire amount becomes taxable.

  • The losses of crypto trading cannot be offset by profits from other sources or the other way around.

The profits earned through crypto will be taxable without any exemption, but in case of loss in crypto, such losses cannot be offset through profits from other sources and vice versa. The losses in trading from crypto cannot be carried forward as well to the next financial year to be exempted from profits earned in the next year. 

To make it more simple to understand the new tax rules, let’s take a look at the below example,

So far, it was falling in the same income tax slab of taxation starting from the income of 5 Lacs p.a. Because if a person’s income is 4.5 Lakhs, and the profits they made out of crypto is 60k, the total taxable income would be 5.1 Lacs and it would be as per income tax slabs.

But with the new tax regine in place, the 60k profit from crypto would get taxed directly at 30% followed by the normal slab based taxes for the person’s income of 4.5 Lakhs.

There are multiple factors and very minute details that need to be considered and it might be more difficult to file the taxes especially for intra-day traders considering the new TDS in place. Some relief was expected from this budget, but the high TDS and such high taxes of 30% might make people to be more cautious when they trade crypto, and at the same time, India is moving forward to the regulations in crypto space making us one of the first to have regulations. These regulations might seem a little heavy on taxpayers, but it also indicates how volatile the crypto market is. It’s high time for us to see how people react to it and it would be interesting what the future of Indian crypto space will be like.

What to expect from the Crypto bill and how to be prepared?

With over 2 crore crypto investors who have invested a whopping 10 billion dollars worth of the economy, right now, there’s a dark cloud over the crypto-system amid the possible inclusion of a crypto bill by the Government of India. A topic of a bill on regulating cryptocurrency has been making rounds for several weeks, with still a lot of uncertainties regarding what would be permitted and what would not.

In the worst conditions, what to expect if a ban is imposed?