Founded in 2013, Unocoin has the mission of bringing Bitcoin to billions. Unocoin is primarily an exchange but also offer wallet services. Users give up control of their private keys to Unocoin. Unocoin encrypts the private keys and store them in cold storage. AES-256 encryption is used. Unocoin supports both Bitcoin and Ethereum. Users can also trade between Indian Rupees (INR). Trading between INR and cryptocurrencies is a key feature of the wallet. It enables users to avoid the need to go to exchanges. Support for INR is also not widely available among web wallets. Buying and selling incur a fee of 0.7% which drops with an increased amount of volume. There are no transaction fees added on for sending and receiving between addresses apart from the normal mining transaction fee.
Unocoin also enables users to send transactions to the email address of other Unocoin users. This makes it easier for users who struggle with the long cryptocurrency addresses. Wallets are not hierarchical deterministic and do not have multi-sig functionality. The code is also not open source. Users can enable two-factor authentication to add an extra layer of security.
Unocoin is available on the browser, Android, and iOS. Unocoin has been noted as easy to use. It is a solution which is more specifically tailored to the Indian market and provides the most benefits to this market. Global users can find more secure wallet solutions with wider support for cryptocurrencies and fiat currencies.
- Founded in 2013 so has been operating for many years
- Exchanges between cryptocurrency and INR
- Users can send to other Unocoin users email addresses
- Users can add two-factor authentication as an extra layer of security
- Available on browsers, Android, and iOS
- Benefits for the Indian market
- Easy to use
- Global users can find more secure wallet solutions with a wider variety of options
- 0.7% on buying and selling
- Wallets are not hierarchical deterministic
- Wallets do not have multi-signature functionality
- Users have to give up control of their private keys