Unocoin Wallet Reviews 2021 - Is It Safe?
Unocoin is an established crypto wallet solution operating out of India and catering to the country’s fast-expanding blockchain and cryptocurrency industry. The company has served over 1.34 million customers since it was established in 2013.
Today, the wallet has been established as the go-to solution in the country for buying and selling cryptocurrencies. India’s attitude towards crypto on a regulatory level has evolved, giving Unocoin wallet more breadth of operation than at any point in the past.
In today’s ultimate review of Unocoin wallet by Cryptogeek, we will delve deeper into what the wallet is, how its key features benefit crypto consumers, what wallets there are and apply to your transactions and whether we think Unocoin is a legitimate and trustworthy solution for new and established crypto investors and consumers.
What is Unocoin Wallet?
Unocoin is effectively an online crypto wallet and exchange that allows you to buy and trade in cryptocurrencies and is a gateway for new and experienced investors in the world of crypto as a whole.
The solution focuses exclusively on the Indian market, bringing tailored expertise into the market in a bid to provide locals with what they need to successfully trade in crypto and do so understandably and to their benefit.
Today, Unocoin is supported by numerous investors who believe in its high standards and core message which is to empower everyday India crypto traders and provide them with numerous opportunities to trade efficiently and at low costs.
Unocoin has the added benefit of enabling purchases for supported coins through Systematic Investment Planning (SIP), which allows consumers to buy at the prevailing currency rate without having to double-check with existing market rates.
Unocoin wallet is free to use and easy to download and operate. As far as wallet features, Unocoin brings a handful of options that will make use of crypto much simpler and to the point.
Consumers are able to quickly purchase digital currencies in exchange for fiat currencies and place withdrawals as they see fit. The wallet offers real time market data and provides you with a quick, intuitive menu that allows you to operate it from a mobile device without any friction.
The wallet offers competitive fees which are some of the lowest regardless of the volume of the traded currencies. Unocoin provides consumers with the ability to use the auto-buy feature and benefit from the associated merchant services app.
Unocoin further allows you to save time by completing transactions quickly and efficiently as well as save money by buying crypto at preferential rates that benefit consumers.
We are delighted that your experience is smooth and seamless with respect to INR deposit. Especially when whole industry is facing some challenge..— Unocoin (@Unocoin) May 28, 2021
Unocoin stand out without any hinderance to INR deposit from banks
Jab Unocoin de aapko #SeamlessDeposit toh #DepositKaro https://t.co/Cw5tVRkQuv
The wallet focuses exclusively on Bitcoin and Ethereum, but it may begin adding more cryptocurrencies as India’s regulation now focuses on enabling wider adoption of such digital assets. Today, the exchange lists over 35 cryptocurrencies which are accessible.
Understandably, fees play an important part of any review. We have made sure that we are fully aware of any additional and basic costs that are part of Unocoin’s regular offer to provide you with the most detailed breakdown of the wallet.
Standard buying and selling fees are set at 0.7% but as you continue to use the solution and build your affinity with Unocoin, you will be able to obtain a Gold membership status which will in turn reduce the fees down to 0.5% for even more worthwhile transfers.
Presently, government taxes may hit 18%, so keep this in mind. If you are receiving assets through an external wallet, Unocoin will be the one bearing the network fees. Sending and receiving assets is free of charge.
In terms of asset exchange rates, there is a 0.4% maker fee and 0.6% taker fee. Network fee will vary and storage of assets is understandably a service that is free of charge at the wallet. You can further explore the fees through the dedicated section found in the footer of the official website.
From there, you can quickly inform yourself about fees on buying and selling, sending and receiving, crypto to crypto exchange and even lending. The information published there is subject to frequent updates so you can always be in the know what you are purchasing and at what rates.
In addition, the wallet and exchange itself will display any fees that may be incurred during a transaction of any kind.
Is Unocoin Wallet Safe?
Unocoin has been online since 2013, giving it a special status in the Indian cryptocurrency industry. Today, Unocoin enjoys community approval ratings and has been touted as the go-to solution in numerous crypto decisions, from storing your tokens to making purchases at beneficial rates.
With years in operation, it’s safe to say that Unocoin’s reputation has stood the test of time. The website makes sure to generate multiple offline addresses that are then used for cold storage so that the exchange limits any potential vulnerabilities it might be exposed to through “hot storage.”
All addresses and keys are encrypted using AES-256 technology and there is also the optional two-factor-authenticator to ensure the safety of the overall offer. Even then, Unocoin still follows the best industry practices and urges you to always withdraw your tokens and hold them in a cold storage as a way to counteract potentially fraudulent activity originating from third-parties.
On the whole, Unocoin does a very good job of protecting your tokens and delivering a service that is both trustworthy and reliable to the point where many people who wish to buy or sell crypto keep coming for more.
Overall, Unocoin Wallet is a trusted and dependable solution that allows you to quickly and reliably navigate through the seeming complexities of the crypto market. Indian customers have put their trust in the exchange and wallet, relying on its fast transactions, low costs, variety of features and not least, proven track record over the years.
Is Unocoin Wallet safe and reliable?
Yes, Unocoin is a safe solution that allows you to buy, sell, trade and track cryptocurrency movements. The company has been operational since 2013 and its reputation has stood the test of time.
Can I withdraw Unocoin assets at any time?
Yes. Unocoin allows you to carry out instant withdrawals to crypto addresses instantly and at any time of the day.
Should I keep my Unocoin digital assets on the exchange?
No. You should always withdraw your assets in the wallet or have a cold storage. Unocoin recommends that you do that every time you complete a purchase.
I didn't find a good wallet's review. But it deserves it, the wallet is convenient for keeping BTC and ETH. Nice one.