Frequently asked questions on cryptocurrency on unocoin.
General Faq's
Trading Faq's
Send & Withdraw Faq's
Exchange Faq's
Lending Faq's
Sub-Broker Faq's
Crypto Basket Faq's
What is bitcoin?
- Bitcoin is a digital currency that functions through the internet and uses peer-to-peer technology to operate with no central authority governing the protocol. The issuing of bitcoin is carried out collectively by the network. It is open-source and free for everyone to be part of. It also has a payment system within its protocol which helps the transfer of value as instant as an email. Through its many unique properties, Bitcoin allows for exciting uses that is not covered by any existing payment system.
Why should I buy bitcoin?
- Going by what seems to be people's favourite feature of Bitcoin - the dramatic increase in price and it's future potential to keep increasing, as unlike all other currencies Bitcoin is a deflationary currency. As an asset class, it has been voted as top preference owing to its virtual and decentralised nature. It has been largely compared to gold and even sometimes called "Virtual Gold" or "Gold 2.0" Bitcoin can be used exactly as money anywhere in the globe. Bitcoin gives you the freedom to control your finances. When you start exploring you will begin to believe that with the Bitcoin technology, the possibilities are endless.
What is ether?
- Ethereum is a distributed blockchain network. This basically means that it's a platform for recording and executing data transmissions that's more secure than most other current solutions. The computing power to carry out these decentralized applications has a cost, which is measured in units -- or tokens called Ether.
Why should I buy ether?
- The Ethereum Foundation’s mission is to promote and support Ethereum platform and base layer research, development and education to bring decentralized protocols and tools to the world that empower developers to produce next generation decentralized applications (dapps), and together build a more globally accessible, more free and more trustworthy Internet. Its one of the most promising project in the blockchain industry.
Can I buy/sell bitcoin without registration and verification?
- No, you will need to register on Unocoin and verify your email id. You will also need to provide a pan card along with an address proof, and a phone number to complete the verification process. Once verification is complete, you will be able to buy/sell bitcoin through your Unocoin account.
I am unable to upload my PAN card and address proof images to the website, what do I do?
- In the rare event of this happening, please check the size of your attachment. Make sure that the total size of the attachment is less than 10MB and the files are of jpeg/jpg/png formats.
I don't have a PAN card, can I still be a registered user on Unocoin?
- Unfortunately you cannot trade or transact on Unocoin without a PAN card.
Why is PAN card mandatory?
- As all transactions occur between bank accounts, it is a self-regulatory requirement for us to know the sender/ recipient within a transaction. To comply with KYC/ AML regulation and to protect users from illegal activities we are required to collect a copy of your PAN card. It uniquely identifies you as an individual or institution performing a particular transaction. When filling out your profile, please ensure your name should match the one on your PAN card.
Is my verification permanent?
- Indian regulations requires user verification once per year. We therefore may contact you requesting you to provide/update scanned copies of your PAN card and address proof, or to acknowledge the information and documents you have submitted before continues to be valid.
How do I open a Unocoin Business account?
- Indian regulations requires user verification once per year. We therefore may contact you requesting you to provide/update scanned copies of your PAN card and address proof, or to acknowledge the information and documents you have submitted before continues to be valid.
I have forgotten my password. Please help!
- On the login page, type in your registered email id and click on the "?" link beside the password text box. Once you confirm that you wish to reset your password. You will receive an email with a link. Click on the link and you should be able to set a new password.