Unocoin, an Indian homegrown cryptocurrency exchange, allowed deposits through Unified Payment Interface (UPI) wallets in the Indian currency from 4th September 2021. This endeavor will now allow speedy top-up to purchase and sell Bitcoins and other cryptocurrencies on the Unocoin portal.
Unocoin Trading Must-Knows
A minimum top-up of INR 1,000 is necessary for individuals to trade on the Unocoin portal. A user can deposit a maximum of INR 200,000 through a UPI medium and INR 15,000,000 through banking mediums (NEFT/RTGS/IMPS/UPI), Unocoin indicated in a statement.
After clicking on ‘submit’ during the recharge procedure via a UPI account, the trading application will share a hyperlink through SMS that will enable the user to make payments via a UPI ID. One can also make direct payments through the UPI application.
CEO and Co-Founder of Unocoin, Sathvik Vishwanath, stated that the usage of crypto compared to liquid money is still an uncertain endeavor amongst potential users. Vishwanath stated that the platform aims to provide easy trading opportunities to all its users on its platform.
The CEO added that despite other means of banking options available, UPI payments within INR deposits will facilitate expediency of hassle-free and instantaneous transactions.
Unocoin was conceived in 2013 and it operates India’s biggest BTC-INR trading platform which allows individuals to purchase, sell, use, store, and accept Bitcoin.
The platform has facilitated transactions valued at more than INR 2 billion per month at its peak. These transactions were made by over 13 lakh customers.
In September 2021, the platform permitted FASTag services for all its users. The app will back a top-up beginning from a minimum value of INR 100 to a maximum value of INR 10,000. It will also support limitless transactions throughout the day whilst warranting that there is sufficient Bitcoin in the user’s account to cover the top-up.