Bitcoin and cryptocurrency, in general, has always been on a roller coaster. Sometimes the value of it goes high up and this cheers those who have HODLed some of it. For others, they regret not having any of it to cheer about. Surprisingly, when the prices hit bottom, it cheers another set of investors as they see it as an opportunity to buy more of the crypto. On the other hand, some commonly weep on the losses. Sometimes the country you live inputs restrictions on the bank to stop any kind of crypto-related transaction, or the government sometimes passes on a notice that crypto is not under their legal purview.
When we talk especially about India, the Indian government, Indian citizens or people who trade or invest in India, the constant take of the government seems quite important. The reason why an average Indian investor overthinks his/her crypto-investment is that the government might anytime approve or disapprove of the transactions or the crypto assets held. It is not us saying this, history has records.
The question here arises also of liquidity and exit. If the rules are softer on the crypto market, investors tend to invest and enter into the market. But the real challenge that they have faced or might face in the future is about exiting when the rules seem to be on the stricter side. Investors also look for an exit plan, when they wish to. And come on, we should have an easier and user-friendly exit mechanism too.
To eradicate this fear among investors, Unocoin came up with a beautiful idea. Two years ago, when the Indian customers of Unocoin faced some discomfort to liquidate their crypto funds, Unocoin collaborated with Airtm. Unlike the recent times, in the year 2019, before the supreme court verdict on RBI, there were restrictions on deposit and withdrawal of INR from/to bank to/from the crypto trading platform.
To ease out the process, Unocoin did collaborate and let its customers transfer their Unocoin USDT to the Airtm USD wallet. On Airtm, the liquidation of any cryptocurrency to INR was possible. This collaboration is still intact even when the ban on crypto transactions is now lifted from all of the crypto trading platforms in India. Even today, this is used by many customers who love this way of exit.
Unocoin today offers trading on more than 40 plus cryptocurrencies. It is powered by a seamless deposit of INR from your bank account. Once the deposit is done, you can convert the INR into any cryptocurrency if you want. The same goes with Airtm as well. Airtm lets you convert your local fiat currency into 30+ cryptocurrencies that you can do trading on. It also accepts deposits in INR, Euros, Pounds and other local fiat currency acceptable across the globe.
The US dollar is considered to be the most stable fiat currency today. Bitcoin, which emerged as the first blockchain-based cryptocurrency catered to a lot of problems that existed with the centralised financial system. But bitcoin had its own set of drawbacks. And hence, the emergence of a stable crypto coin took place in the form of a US dollar tether or USDT. The USDT still is considered to be the most stable crypto coin to date. The USDT is backed by the US dollar and usually, it values equal to one US dollar. On the Airtm platform, USDT is referred to as AIRUSD, that is, one USDT equals one AIRUSD.
Once you have AIRUSD on your Airtm wallet, you can also cash it out into physical cash through human tellers that exist across India. You can check the Airtm app to know where all it can be cashed out.
Why the bridge:
Well, when you are told that you do not have to pay anything as an exchange fee for any kind of withdrawal or transfer, you got to be raising your eyebrows and lend us your ears. You read it right. You deposit any fiat currency on any of the two trading platforms, buy any crypto from the local currency, and withdraw. There are no exit fees.
Also, you deposit local fiat currency from one platform, convert it into USDT or AIRUSD, transfer it to the other platform and exit, you still pay no exchange fee whatsoever. Now tell us why you should not make the most of this collab?
How to cross the bridge:
Now since you know that this cross-platform hopping is possible and beneficial for saving hefty transactional fees, you might also like to know what are the key points one needs to take into account to do this transfer.
The cross-platform transfer is possible with the help of USDT as the pairing coin. Also, a user needs to be a Unocoin user AND an AIRTM user. By user, we mean that the Unocoin team should have verified your bank and other identity-related details. For Airtm as well, there are two categories of their users — semi verified and fully verified users.
Also, there is a minimum limit of the USDT that can be transferred. For a daily transfer, the minimum limit is set to USDT 10.
Finally, the email ID with which you register your accounts with Unocoin and AIRTM must be the same. This makes sure the cross-platform transactions are smooth and quick.
Now when you know why you should have the best of both worlds, try this amazing feature. We hope this article helped you save some hefty exchange fees.
Unocoin is India’s first and the most secure bitcoin trading app. This exchange app was founded in 2013. You can buy and sell bitcoin instantly using the Instant Buy and Sell feature. Not just this, you can also buy ETH and Sell ETH in no time. With more than eighty-seven coins listed on this best cryptocurrency exchange in India, you can also accept bitcoin from your friends from any location. You can also know which cryptocurrency works best for you with the price ticker and notifications. The most popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), USDT (Tether), BNB, Ripple (XRP), Cardano (ADA), Solana (SOL), Binance USD (BUSD), Dogecoin (DOGE), Polkadot (DOT) and other popular altcoins can be traded on the go. The new Android and iOS applications make Unocoin the best cryptocurrency app. With the unique feature of the Systematic Buying Plan, you can buy and sell bitcoin and Ether periodically. What more? You can start your crypto journey using SBP for as little as INR 10. With another exciting feature called Crypto Basket, you can diversify your crypto portfolio based on market capitalisation (Market Cap) or Volume. These two excellent features make Unocoin the best cryptocurrency platform.
Coins. Love Unocoin.
Please find the list of authentic Unocoin accounts for all your queries below:
- YouTube Channel: https://www.youtube.com/c/Unocoin/videos
- Newsletter: https://medium.com/subscribe/@Unocoin_growth
- Blogs: https://blog.unocoin.com
- Instagram: https://www.instagram.com/unocoin/
- Twitter: https://twitter.com/Unocoin
- Facebook: https://www.facebook.com/unocoin/
- LinkedIn: https://in.linkedin.com/company/unocoin
- Telegram Group: https://t.me/Unocoin_Group
- Telegram Channel: https://t.me/+fasQhTKBsfA5N2Zl
- Telegram: https://t.me/UnocoinSupport_Bot
- E-mail id: [email protected]
- Contact details: 7788978910 (09:30 AM IST — 06:30 PM, Mon — Sat)
- App store link: https://apps.apple.com/us/app/unocoin/id1030422972?ls=1
- Playstore link: https://play.google.com/store/apps/details?id=com.unocoin.unocoinwallet
Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).