Unocoin observed the intrinsic popularity of significant trades of popular cryptoassets on wallet platforms. Keeping this in mind, Unocoin has decided to add Ether(ETH) on its wallet where a user can buy and sell along with Bitcoin.
Following features for Ether will be available on Unocoin:
- Buy ETH
- Sell ETH
- Deposit ETH
- Receive ETH
There is no change in the process of buying and selling of Ether and it will remain the same as Bitcoin.
Systematic Buying Plan
Systematic Buying Plan (SBP) is one of the most popular features introduced by Unocoin for BTC where a user can invest his/her INR amount smartly and systematically with less risk on daily, weekly or monthly basis, when he/she is not sure about the right time to buy Bitcoin.
The same applies for ETH also where Unocoin allows the user to set a fixed time or day of their choice when a certain amount decided by a user will be deducted automatically from his/her Unocoin account and put in the Ether SBP plan.
Note: SBP plan for Ether will be rolled out soon.
Assigning an ETH address to a User
One important change a user must note is — How and when an ETH address is assigned to a user?
Ether address is not assigned to a user by default unlike BTC address unless ETH address is already associated to him/her. ETH address will be assigned only when below actions are taken by a user on their Unocoin account:
- When users intentionally request Address Assignment
Users will be able to buy and sell their favorite “Ether” right on the wallet, along with deposit and receive their holdings from and to the wallet.
A user can buy minimum Ether worth Rs 982 and maximum buying limit Rs 20,00,000 has been set whereas minimum and maximum selling Ether price Rs 1,000 and Rs 20,00,000 has been set respectively.
Referral Structure: Users will continue to operate in the usual referral structure where one can earn 15% of transaction fee on each successful transaction. The Referrer will receive the referral bonus in ETH form instead of BTC as the Buy/Sell has occurred for ETH (This referral structure is eligible only for existing BTC referrer).
Buy and Sell Ether on Unocoin:
Unocoin charges a fee of 0.7% to buy or sell Ether on its wallet. After a certain period of time and a considerable amount of transactions, users account will be upgraded to “Gold Membership” where the transaction fee will be reduced to 0.5% of the trading amount and there will be no fee on holding of Ether on your Unocoin wallet.
Sending and Receiving Ether on Unocoin:
There is no fee when you send an Ether to an email id registered with Unocoin while sending ETH to another Ether address, Unocoin charges a fee of 0.01 ETH. There is no fee on receiving the Ether to your Unocoin wallet.
Where Can You Get Started?
Along with Bitcoin, now a user has the choice to buy and sell Ether in Unocoin wallet. Simply by signing-in/signing-up through the Unocoin app or website and direct yourself to the Ether page to start trading.