In April 2015, we launched Systematic Buying Plan for bitcoin. Systematic Buying Plan (SBP) is an exciting way to acquire bitcoin (BTC) – the first of its kind that is introduced by Unocoin. Now the Plan is extended to ether (ETH) as well. This is a more conservative approach to investing in bitcoin than spending all your money on bitcoin or ether at once. This technique allows you to commit to a fixed INR amount on bitcoin on a regular schedule regardless of the price. You can invest as little as 50 INR per interval that you choose – be it daily, weekly (you get to choose the day of the week) or monthly (you get to choose the date in the month). You need to fund your INR wallet and schedule the orders to get started with SBP. This feature helps with financial discipline by averaging out your cost and thereby reducing risk resulting in generating better returns. What’s more? There is 0% transaction fee for BTC and ETH that you buy using SBP.
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!
~ 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 http://unoco.in/app from your Android phone or iPhone to download the app and start using it.
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: www.unocoin.com
As India transitions from a cash economy to a cashless one, digital currency will be at the forefront! The most famous form of digital currency is bitcoin. It promises to be the currency of the future.To expose people to the power of bitcoin and the underlying technology, Unocoin is conducting India’s first ever Bitcoin only hackathon. The theme of this hackathon is to “Reimagine the future of Bitcoin in India”.
At the hackathon, work on this exciting new technology, and facilitate the transition to a cashless economy by leveraging the power of Bitcoin!
This hack is open for all Developers.
First Prize Rs. 50,000 worth bitcoin
Second Prize Rs. 30,000 worth bitcoin
Third Prize Rs. 20,000 worth bitcoin
91springboard, Koramangala, Bangalore
08 Apr 2017 – 10:00 am
09 Apr 2017 – 10:00 am
Please visit http://www.venturesity.com/challenge/id/403 to apply
Terms and conditions:
- ● Unocoin reserves the right to change or cancel the referral scheme anytime.
- ● Referral money is always paid in bitcoin (considering the average price of buy and sell at the time of order processing).
- ● Only verified members are allowed to refer friends to Unocoin.
- ● As your referral money is paid as a gift there are no TDS deductions and you will be responsible for your taxes if any.
- ● Referral bonus is subject to change with the availability of offer with the third party.