Auto-sell feature on Unocoin

In December 2015, we introduced this feature to enable our customers to avoid being online when they want to sell the bitcoin at the same time when the deposit happens to their wallet and get INR to their bank account. This was extensively used by freelancers who choose to accept bitcoin as a mode of payment but don’t want to be exposed to bitcoin price volatility. Due to the banking issue in 2018 and 2019, we had to pull down this feature but now it is enabled again as we can now pay out INR to customer’s bank accounts.

To enable this feature, the web users would go to Settings -> Wallet Utilities and choose Auto Sell there. The app users would go to More -> Wallet Settings -> Auto Sell. The sell of bitcoin that happens though this feature do not attract any transaction fee (happens for 0% transaction fee). The sell operation happens at the current SELL rate at the time the deposit of btc gets confirmed.

Team Unocoin