Fee Structure Of Unocoin Platform
Buy & Sell Bitcoin
Send & Receive
Crypto to Crypto Exchange
Buy and Sell bitcoin operations on Unocoin
Unocoin charges a fee of 0.5% to buy or sell bitcoin. Over an extended period of usage (minimum 60 days) and a significant transaction volume on your account,there will be an upgrade to “Gold Membership”. This upgrade gives you a higher transaction limit per day. A government levied IGST of 18% will be charged on the transaction fee. For example, if you are buying bitcoin for 10000 INR, then the transaction fee at 0.5% will be 50 INR and the IGST on that transaction fee would be 9 INR (Rounded up to 9 INR). Hence you will end up paying 10059 INR in total. Our IGST number is 29AABCU8112D1ZI.
Sending and Receiving bitcoin on Unocoin
When you send bitcoin to an email-id of Unocoin user, there is no fee. When sending bitcoin to a bitcoin address, Unocoin collects a fee of 0.0005 to 0.0009 BTC (the fee is set dynamically depending on the network congestion and will be displayed while sending out the bitcoin to a bitcoin address) that is deducted from your Unocoin balance which is paid to the mining network that validates, processes and secures your transactions.
There is no fee for receiving bitcoin on your Unocoin wallet.
History of collected bitcoin transaction mining fee changes for sending bitcoin to a bitcoin address from your Unocoin wallet:
- 14th November 2017 onwards – it will be dynamically set. Please check the fee before sending the bitcoin to a bitcoin address.
- 16th March 2017 to 14th November 2017: Bitcoin network fee was 0.0005 BTC
- 15th March 2016 to 16th March 2017: Bitcoin network fee was 0.0002 BTC
- 15th December 2013 to 14th March 2016: Bitcoin network fee was 0.0001 BTC
Storing Bitcoin and other Crypto on Unocoin
Starting from March 2023, Unocoin is introducing custodial fees of 0.0001 BTC per month for inactive trading accounts. This fee is inclusive of 18% GST
So, why are we doing this?
The decision to start applying custodial fees was not easy, especially when many of the exchanges do not charge this explicitly. Since 2013, we have applied some of the world’s best technologies to secure crypto deposits of our customers. There is a service and maintenance fee that Unocoin pays to provide the crypto deposit, withdrawal and storage services. There is also a fee that we pay to evaluate individual crypto deposits and withdrawals to detect any illicit trail behind such deposits or with withdrawal addresses. Cold storage solution which holds more than 90% of crypto deposits is completely managed by Unocoin. On the other hand, when our customers trade, the fee we get from them helps us cover some of these costs. So, this custodial fee is only applicable for inactive accounts.
P.S: The above fee are subject to changes without notice. You can visit this page using the link at the bottom of every web page for updates on the fee structure before completing a transaction.
Crypto to Crypto Exchange
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Lending Fee structure
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