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Exchange FAQ’s

Exchange FAQs | Unocoin

Can I buy/sell cryptoassets without registration and verification?
  • No, you will need to register yourself on Unocoin. You will also need to provide your Bank Details, a PAN card along with an Address proof, and a photograph to complete the verification process. Once verification is complete, you will be able to buy/sell cryptoassets through your Unocoin account.
What is an orderbook?
  • The order book gives you a list of all open (unfilled) buy and sell orders.
How to place a buy/sell order?
  • Unocoin currently supports only limit orders and market orders. Placing a limit order lets you decide what price you wish to buy or sell at. Your order will be queued in the order book, until a counterparty wishes to take the order.
How to cancel an order?
  • To cancel an open order select My orders tab from the corresponding asset. Your open orders will be listed under “Open Orders”. Click the delete icon and your order will be cancelled.
What are charges to withdraw funds from Unocoin?
  • INR withdrawals to your registered bank account are free of charge. Cryptoasset withdrawal charges are subject to the specific network charges (miner fee) as mentioned on the fees page
What are maker-taker transactions?
  • Taker - Places an order at the market price which gets filled immediately. Maker - Places an order which is not immediately matched and is queued into the order book. To know more about the Maker and Taker fee, navigate to the fees page
Why is my available balance less than my actual balance?
  • If you have open orders, the funds used to place your orders are considered to be on hold and cannot be utilized to make another order, until the open orders are cancelled.
What is Market Orders ?
  • Market Orders are the simplest of the Order that can be placed by the User. In this Order Type, the User specifies only the Total(in Base Coin) or Amount (in Pair Coin) he/ she wishes to spend to buy the Pair Coin. He does not have the option to limit the Order either in terms of the Size of the Order or the Price per Unit. Once the Order is placed, the Buy Order is picked up by the OME and matched to the Sell Orders in the Order Book in the decreasing order of the Selling Price. As there is no limit set on the Order, it is expected to be executed immediately (provided there is sufficient depth in the Market). The bought pair coin is credited to the destination wallet by deducting fee and tax. If the Base Coin is INR, then the Fee and Tax is deducted before the Order is placed. For the Market Sell Order, the User specifies only the Quantity of the Pair Coin he/ she wishes to Sell.
What is Stop Loss Order ?
  • This is an extension of Market Order, where for a Buy Order the User specifies the Trigger Price and Total(in Base Coin) or Amount (in Pair Coin). When the LTP in the particular exchange reaches the Trigger Price specified by the User, then a Market Order is placed with the input as Total(in Base Coin) or Amount (in Pair Coin). Rest of the flow in the Order journey proceeds as explained in the Market Order. For a Sell Order, again a Trigger Price and Quantity of the Pair Coin is specified. Once the trigger price is breached in the Exchange, a Market Order is placed which follows the same rules as the Market Sell Order as explained above.
What is Limit Order ?
  • The Order Type currently featured on Unocoin platform is the Limit Order where we specify the limit for an Order in terms of Price Per Unit. Once the Order is placed, OME picks up the Order and compares with the Open Sell Order Book. Then the match happens on the basis of Price-Time Priority. The Input fields and the working will remain the same for Limit Order.
What is Stop Limit Order ?
  • Price Limit Order is an extension of Limit Order where for a Buy Order the User specifies the Trigger Price and other details as Limit Order. When the LTP in the particular exchange reaches the Trigger Price specified by the User, then a Limit Order is placed. Rest of the flow in the Order journey proceeds as explained in the Limit Order. For a Sell Order, again a Trigger Price is specified. Once the trigger price is breached in the Exchange, a Limit Order is placed which follows the same rules as the Limit Sell Order as explained above.
What is Ladder Order or Stack Order ?
  • In Ladder Order, User specifies N (<=10) number of Price Limit Orders. For each of the Limit Order, the User specifies the same details as in the regular Limit Order. The trigger in this Order Type is the execution of (N-1)th Order. i.e The User submits all the ten Orders to the Exch. Once the first Order is executed, it triggers the Order placement of the second order in the Exch. Once the second limit Order is executed, the third order is placed in the Exch and the flow goes on until all the Ten Orders are executed. The N Orders can be any combination of Buy and Sell Limit Orders.
What is Split Order ?
  • As the name suggests in Split Order, the Size/ Quantity of the Pair Coin in a Price Limit Order is split into N (<=10) smaller quantities and N different Limit Orders are placed in the Exchange in one go. Each of those N Orders will execute based on the price and the size limitations of their respective Order parameters.
How does Airtm deposit work?
  • In the USDT Deposit Page, you will have an additional Tab as "Airtm Deposit". Inside the Deposit Page, you will input the amount of USDT you wish to Deposit into your USDT Account and hit SUBMIT button. An OTP/ 2FA verification is obtained to proceed further.
  • Once the User enters the right OTP/ 2FA, you will be redirected to Airtm Page where you will authenticate the transaction by entering the registered Email ID and Password of the AirTM Account.
  • Once, you authenticate the transaction - you are redirected back to Unocoin.
  • Once the authentication is complete, the entered amount of USDT is credited from your Airtm Account to your USDT Wallet.
How does authenticate Airtm withdrawal work?
  • In the USDT Withdrawal Page, you will have Additional Tab as "Airtm Withdrawal". Inside the Withdrawal Page, you will input the amount of USDT to Withdraw from Unocoin Wallet to Airtm Account and hits SUBMIT button. An OTP/ 2FA verification is obtained to proceed further.
  • Unocoin will initiate the transaction with the Email ID on file. Airtm will validate the existence of an account with the provided Email ID. Once the credit is complete, we will provide a success response to you. If an Account does not exist, an error message is shown.