You can install the Unodax.com app on your mobile devices. It is compatible with iOS and Android operating systems and has a responsive design. 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.

Unodax is an Indian cryptocurrency exchange. It has its registered office in Bangalore. According to information on Unodax’s website, they have received investments from 45 “top investors” and have to date more than 1.2 million satisfied customers. That is indeed a lot of customers.

How To  Start With Unodax.com

To start trading with Unodax.com  ,Indian residents first have to sign up for an account by following the steps below.

Step 1. Click on the “Login/Signup” link on the top right hand corner of the Unodax.com  website.

Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.

Step 3. If you have a referral code, enter the code while creating your account.

Step 4. Submit the form and wait for an activation email to be sent to you.

Step 5. Click on the “confirm email” link in the activation email.

Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Unodax.com account.

Exchange for cryptoassets

Unocoin exchange – UNODAX operates on a maker/taker model. Makers provide liquidity to the order book by placing a limit buy below market price or a limit sell above the market price. A maker fee of 0.40% in INR is applied in such cases.

Takers take away liquidity from the order book by placing a market or limit order that executes immediately against a limit order already on the order book. A taker fee of 0.6% in INR is applied in such cases. Maker fee and taker fee are only applied on successful execution of orders.

Note: By default, all buy orders will lock a taker fee in INR. On successful completion of the order and if he is a maker, then the maker fee is applied to the order and remaining fee is refunded

Unodax Trading fees

The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.

Unodax’s trading fees for takers are 0.60%. This fee is substantially above the industry average. The exchange also offers a discount to makers, who trade at a fee of 0.40%. Also the maker fee is above industry average.

Unodax also specifies which taxes that will be levied upon your purchase (apparently 18% in Indian General Sales Tax on the transaction fee). This trading platform’s general sales tax number is 29AABCU8112D1ZI if any of you happened to be interested in that information.

Unodax Withdrawal fees

Many exchanges have competitive trading fees but then charge you high withdrawal fees. Not Unodax. Unodax even pays the network fee for you that you can’t avoid when withdrawing BTC. This is a nice gesture showing that might make up for at least some of the above-average trading fee.

Deposit Methods

This trading venue offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.

Security

Crypto being a purely digital entity can be stored in digital form only. The important concern for Unocoin/Unodax is to make sure your investment is protected in a way that gives you access whenever you need it while keeping out the oddities away from our storage. This is when Security comes into the picture.

And at Unocoin/Unodax they are extremely cautious about how they secure users cryptoassets. Most of the cryptoassets in Unocoin/Unodax are stored offline. The set of multiple addresses for offline storage are generated on a computer that has never been (and never will be) connected to the internet.