Indian cryptocurrency exchange Unocoin has expanded its digital asset offerings by introducing 15 new cryptocurrencies on its newly launched trading platform Unodax. The newly supported assets include:
- Major Cryptocurrencies: BTC (Bitcoin), BCH (Bitcoin Cash), ETH (Ethereum), LTC (Litecoin), XRP (Ripple)
- Emerging Tokens: BTG (Bitcoin Gold), BAT (Basic Attention Token), FUN (FunFair), ZRX (0x Protocol), OMG (OmiseGO)
Key Features of Unodax Platform
- Diverse Asset Selection: Catering to both conservative and experimental traders.
- Regulatory Compliance: Operating within India's evolving cryptocurrency framework.
- User-Centric Design: Streamlined interface for seamless trading experiences.
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Market Context: India's Crypto Landscape
India's cryptocurrency market has shown remarkable resilience despite regulatory uncertainties. Recent developments indicate:
- Growing institutional interest in blockchain technology
- Increasing retail investor participation
- Evolving payment infrastructure supporting crypto transactions
Frequently Asked Questions
Q: Is Unocoin regulated by Indian authorities?
A: While India lacks comprehensive crypto regulations, Unocoin operates in compliance with existing financial laws and KYC/AML requirements.
Q: What payment methods does Unodax support?
A: The platform currently supports INR deposits through bank transfers and UPI payments.
Q: How does Unocoin ensure security?
A: The exchange employs multi-signature wallets, two-factor authentication, and cold storage solutions for asset protection.
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Industry Trends Supporting Expansion
| Trend | Impact on Indian Market |
|---|---|
| Blockchain adoption by banks | Increased legitimacy for crypto assets |
| Growing developer community | More local crypto projects emerging |
| Cross-border payment solutions | Practical use cases gaining traction |
The launch reflects Unocoin's strategy to position itself as India's premier cryptocurrency gateway while adapting to global market trends. This expansion comes at a pivotal moment as worldwide interest in altcoins continues to grow alongside established digital assets.
Q: What are the trading fees on Unodax?
A: Unocoin employs a maker-taker fee model starting at 0.1%, with discounts for high-volume traders.
Q: Does Unodax offer staking services?
A: Currently, the platform focuses on spot trading, with plans to introduce staking in future updates.
Q: How does this compare to international exchanges?
A: While smaller than global platforms, Unodax specializes in serving Indian traders with localized support and INR trading pairs.