What causes crypto assets’ prices to fluctuate?

The primary reason for the fluctuation of crypto assets is its infancy. However, several other factors like speculation and whale accounts govern the rise and fall of digital currencies. Read on to learn more.
Crypto assets would be one of the top terms on the list of the world’s most volatile elements. Since its inception, crypto assets have been regarded as one of the world’s most explosive and volatile assets.
While the crypto business has made itself incredibly difficult to predict in terms of crypto-asset price movement, it is possible to discern how the price of crypto assets changes in the market by studying why crypto assets move.

What causes crypto assets’ prices to fluctuate?
What causes crypto assets’ prices to fluctuate?

Why Does The Crypto Assets Price Vary So Much?
As crypto assets are still in their infancy as a market, they are in process of discovering their rational uses. The upshot of this newness is significant market volatility, mainly driven by investors’ increased experimentation to understand how the crypto asset market changes.
The price of Bitcoin (BTC) hit an all-time high in 2021, with prices over USD 69,000 in November of that year. Tesla and Coinbase occurrences caused the rise in the BTC prices. Another reason was the news that Tesla purchased 1.5 billion US dollars worth of the digital coin and the IPO of the US’ largest crypto exchange.
However, due to government regulatory concerns, the world’s most well-known crypto-asset had a significant correction in April. Another factor, according to analysts, was a power outage in China’s Xinjiang province. This unanticipated occurrence decreased the Bitcoin hash rate — the number of Bitcoin produced — and may have frightened investors into dumping their investments.
What Are The Other Factors That Influence The Crypto Market?
The crypto asset market has been difficult to predict since it’s establishment. A few elements determine the market trajectory. A few of these are listed below.
Exclusively Digital Asset
Like Bitcoin and Ether, most crypto assets are digital assets with no tangible commodity or money behind them. The rules of supply and demand determine their price. In the absence of any other stabilising element, such as government support, many factors may cause volatility in demand or supply in the crypto asset market.
Technology Advancement
The blockchain or any alternative technologies these coins rely on are still developing. The Bitcoin concept was initially introduced about a decade ago. There is a scalability issue when a smart contract is not verified within the desired timeframe, causing fast downward pressure.
Commentary by Fragile Investors
Most of the investors that invest in crypto assets are part-timers. They arrive expecting to generate quick money, but they lose patience and leave when that does not happen. This frequent participation and departure also result in volatility.
Scarcity And Whale accounts
It is currently projected that 21 million bitcoin will be created by 2140. As the number of investors grows, the number of coins per investor on an average decreases, thus increasing their prices.
There are also whale accounts, which control a considerable portion of a coin’s entire market circulation. Suppose several whale accounts begin trading simultaneously per a plan. In that case, they begin to influence the crypto market, and prices are impacted as a result.
Although crypto investments are not mainstream currency, you can still use them in multiple ways. Here is a list of utilities you can obtain with your crypto assets.

  • Transferring money at a low cost.
  • With ‘Yield Farming,’ you can earn interest on Bitcoin and other crypto-assets.
  • Censorship-resistant alternative wealth storage.
  • Invest in cutting-edge early-stage enterprises.
  • Make personal transactions.
  • Remit non-cash remittances.
  • Earn money by posting content.
  • Travel the world & beyond
  • Lend and Borrow

Bottom Line
As consumers and businesses get more familiar with virtual currency, bitcoin and other crypto-assets trades rise daily. There are multiple reasons for the prices of digital currencies to go up or see a dip. The underlying principle of these digital assets is volatility.
Unfortunately, crypto goods are not adequately regulated in India. You can still dabble in crypto trading, but this can be tricky as the crypto market is highly volatile. This is where Unocoin comes in. We at Unocoin understand the need to safeguard consumer interests because this type of trading and investment carries hazards that consumers may be unaware of. Hence, trading on our platform can be pretty beneficial. You can easily view the price of crypto assets and determine which ones you want to invest in on our app.
About Unocoin:
Unocoin is India’s first crypto exchange and trading platform. It’s not just the most secure, feature-rich exchange app; it’s also the most trusted Indian crypto app. The recent app development has made Unocoin one of India’s fastest and smoothest KYC processes. With Unocoin, you can get verified in no time, start trading crypto on the go and buy your first crypto by giving only your email address and Aadhaar details.
India’s first and most secure cryptocurrency trading app, Unocoin, allows you to buy and sell bitcoin instantly with its unique Instant Buying and Selling feature. You can also buy Ethereum (ETH) with INR through your Indian bank account. With over eighty-five altcoins listed on this crypto trading exchange, you can also accept bitcoin from friends at any time and anywhere in India. And unlike other cryptocurrency exchanges, Unocoin lets you diversify your crypto portfolio according to market capitalisation (Market Cap) or volume with its Crypto Basket feature. For users just starting in the world of digital assets, Unocoin offers an exciting feature known as the Systematic Buying Plan that lets you buy bitcoin or Ether periodically over a set period for as little as ₹ ten each month. So for an innovative approach to trading cryptocurrencies in India, look no further than Unocoin — the best cryptocurrency exchange in India!
Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:
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).

How does the US economy impact the crypto industry?

Read on to understand the impact of the US economy on the crypto industry and how it fosters the creation of an open-source financial and technological infrastructure accessible to anybody with an internet connection.
The impact of the world’s largest economy on the thriving market of the crypto asset is becoming more dominant than ever. Crypto assets are unique because a central authority does not issue them.

How does the US economy impact the crypto industry?

The Growing Impact Of The US Economy On Crypto
The economy of the United States of America has significantly influenced the crypto assets, such as bitcoin. It has skyrocketed in value, hitting a market cap of $1.27 trillion, up from $9.13 Billion in just five years! According to polls, about forty million persons in the United States have invested in, traded, or used crypto assets. Monetary institutions in over a hundred countries are testing digital currencies, a digital representation of a country’s sovereign money.
We must retain technological leadership in this fast-paced, ever-changing industry, stimulating innovation while reducing risks to consumers, businesses, the economy, and thus the environment. It should also take the lead in foreign engagement while keeping with the democratic values of the USA.
President Biden signed an Official Order in May 2022, establishing the first-ever cross-government approach to managing the risks and reaping the benefits of digital assets and their underlying technologies.
This Order addresses client and capitalist protection, monetary stability, illicit finance, US leadership in the global economy and economic warfare, financial inclusion, and accountable innovation.
The impact of the Official Orders on crypto assets:
It’s the first time the White House has openly spoken out on crypto assets, and the tone of the directive is encouraging. It demonstrates the government’s willingness to embrace the up-and-coming blockchain and its underlying technology, which has piqued the interest of many investors. According to the Order’s information sheet, the United States “must retain technological leadership in this rapidly emerging field.”
The Order establishes a foundation for regulatory clarity. It is viewed as a balanced viewpoint on crypto assets in general, addressing both the benefits and drawbacks of cryptos.
Some of the world’s top crypto platforms, like Coinbase, are based in the United States, allowing buyers and sellers of crypto assets to perform transactions efficiently.
The recent development is thus beneficial not only to US crypto users but to all crypto fans because the regulatory framework of a nation with such a large crypto industry will influence the global crypto market. After Biden signed the executive Order, Bitcoin had risen by 9%.
Since its start in 2009, the implementation of Bitcoin has been highly evident to the general public. Due to its autonomy and ease, the new type of currency has become a popular and viable source of assets worldwide. Various crypto assets have been developed to serve as an alternative currency.
According to a report, as of January 2022, over 36.5 million people in the United States own or invest in currency. Bitcoin and other crypto-assets are appealing because they provide a more modern digital money. A third party does not manage transactions on these sites.
This allows for direct transactions between the buyer and the seller. Bitcoin has also been commended for its several benefits, such as low transaction fees and speedy processing. That explains why, in recent years, hundreds of billions of dollars have been spent on new forms of cash. The blockchain technology that supports bitcoin has also reached the general public.
The Blockchain Effect
Many in the financial services sector refer to blockchain technology as distributed ledger technology. Some feel that blockchain will be more reliable than their present databases. With the rise of digital money and more than half of the world’s population possessing a smartphone, some predict blockchain technology may eventually supersede the banking industry’s traditional technology. This new financial technology collaboration might pave the door for widespread use of digital currency like crypto.
Other governments are also becoming more aware of crypto assets. The Commodity Futures Trading Commission of the United States concluded in 2015 that Bitcoin and other virtual currencies should be classified as commodities. According to experts, blockchain technology can be utilised for various purposes, including force chains, online voting, and crowdfunding.
JPMorgan Chase & Co. (JPM) and other financial institutions are experimenting with blockchain technology to reduce transaction costs by streamlining the payment process.
Final Thoughts
Crypto rules in the United States vary significantly between states. And, despite regulatory action, or the lack thereof, in many countries, crypto defied regulatory restrictions regarding financial success in the digital currency sector. It has steadily risen for the previous decade, especially in recent months. The world digitises, and new digital assets threaten government-sponsored money; hence, many governments are becoming crypto-friendly.
The percentage of crypto wealth owned by investors in foreign nations, according to the bank, is an essential factor. According to Goldman Sachs, US consumers control nearly one-third of the worldwide crypto market’s $1.3 trillion market value. This suggests that the current market value fall is insignificant compared to the US family net worth, which was $150 trillion in the fourth quarter of 2021, thus showcasing the effect of the US economy on the crypto industry.
About us:
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.
Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:
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).

Everything You Need to Know about TONCOIN

What is TON and Toncoin?

TON is the “Future of Currency”, as its creators call it. TON has been inherited from Telegram. It is a fully decentralized layer-1 blockchain designed by Telegram’s founders.

Everything You Need to Know about TONCOIN. toncoin buy toncoin toncoin wallet whattomine toncoin how to sell toncoin toncoin calculator toncoin pool toncoin price toncoin airdrop toncoin app

What are the Digital Assets on TON?

TON has three types of digital assets:

  1. First is the Toncoin, the primary token of the network. It is used for all basic operations on the blockchain, like paying gas fees or staking for validation.
  2. The second type is native tokens which are unique kinds of assets that can be attached to any message in the network. These assets are currently not in use since the functionality of issuing new native tokens is closed.
  3. Finally, the third type is contract assets — analogous to ERC20, assets that are managed by arbitrary contracts.

Why was the TON created?

The TON blockchain was designed to onboard billions of users (initially, the closed community of Telegram users). Toncoin’s founders began to explore blockchain solutions for Telegram Messenger back in 2018.

It is now used for transaction fees, securing the blockchain through staking, deciding how the network develops, and settling payments.

TON was also created for talents. It accepts applications from individual contributors, independent teams, nonprofits, academics, etc., for its grant program (discussed at the later stage in this blog).

TON Timeline

Late 2018:

Founders of Telegram Messenger, the Durov brothers, released the first version of the Telegram Open Network whitepaper.

2020:

Telegram was forced to cease the active development of TON. However, a vibrant open-source community continues to maintain the network and build new TON functionality, bringing Telegram’s design to fruition.

2022:

TON becomes ‘The Open Network’. TON mainnet is fully operational, hosting ultra-cheap, fast, and environmentally friendly transactions. In 2022 Q1, the TON Defi and TON’s developer program was launched.

Benefits of TON

  • It has low fees.
  • It boasts ultra-fast transactions.
  • TON is environmentally friendly.
  • TON has ETH and BSC as exchanging bridges.
  • TON blockchain has easy-to-use native apps. Some of these native apps can be used directly in Telegram, such as @wallet or @cryptobot.
  • Wallet apps: Tonkeeper, Tonhub, Android TON wallet, and iOS TON wallet.
  • TON is scalable and shareable. Its flexible architecture lets it grow with no loss of performance.
  • Using Tonkeeper (one of the wallets that support TON), users can transfer NFTs via links and QR codes.
  • You can stake your TON in official TON Nominator Pools.
  • It has a grant program that pays in Toncoins. TON’s grants are an additional incentive for talented people to build something benefiting TON.

Who can Apply for TON’s Grant and get Benefitted?

1. Projects contributing to public good via the TON blockchain.

2. Early-stage and ideation stage projects looking to kickstart.

3. Projects that champion open-source code.

4. Projects with unique use-cases.
Read more and apply at https://ton.org/grants

TON Community

Starting in 2020, TON has grown. Thanks to the unwavering efforts of a global, decentralized community of crypto enthusiasts, developers, designers, and other professionals. As the developers of TON say, their community is the key to TON’s future, and they love more crypto enthusiasts to join them.

The telegram community of TON is here: https://t.me/toncoin. As of today, it has 725 000 members. If you wish to be a part of their Twitter community, you can follow them here: https://twitter.com/ton_blockchain.

Some facts and figures

At the time of writing,

  • The Toncoin price was $1.08 as per ton.org. On Unocoin, you can buy Toncoin at INR 134.69.
  • The Market capitalisation is $1.20 B, with a total supply of 5.04 Billion.
  • It has witnessed 62,372,666+ transactions already.
  • TON has 743,017 wallets to date;
  • TON has 203 validators.
  • The platform has attracted investments from significant international funds, such as DST Global, C Ventures, and K3 Ventures. A short time ago, Matrixport too launched a financial product for Toncoin holders.

Buy Toncoin now, Only at Unocoin!

Now when you know what TON is, why it was created, and the benefits it beholds, let us see where you can buy Toncoin.

Unocoin is the only crypto exchange in India where everyone can buy Toncoin in exchange for their fiat currency (INR).

How can I buy Toncoin?

  1. Download the Unocoin application on your iOS or Android device. Alternatively, you can visit www.unocoin.com.
  2. Create a free account on Unocoin by entering your phone and Aadhar number.
  3. Top up your Unocoin INR wallet.
  4. Go to the ‘Exchange’ page; search for Toncoin.
  1. Click on ‘Buy’ to place an order.
  2. Trade / Sell Toncoin to get multiple other digital assets.

Currently, Unocoin supports the third type of digital asset of the TON network, the one analogous to ERC20. When writing this piece on Unocoin, you could buy Toncoin at INR 134.69. Unocoin not just provides the facility to let you buy Toncoin in India, it also offers many other benefits, like

  1. INR 100 worth of free bitcoin on every new sign-up.
  2. Earn Satoshi daily by Shaking Your Phone.
  3. Earning referral income under Unocoin Refer And Earn Program.
  4. Earn interest on your USDT.
  5. Take a BTC loan as collateral for some emergency.

Please find the list of authentic Unocoin accounts for all your queries 
below:

Disclaimer:

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. This form of trading and investment has risks that consumers may not know. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).

Picture courtesy: www.ton.org and www.unocoin.com.

New TDS rules around Crypto. What does it mean for you?

Hey Unocoiner,

As you are likely aware, Tax Deduction at Source or “TDS” will be applicable on the transfer of “Virtual Digital Assets”, including crypto assets, from 1 July 2022, as per Section 194S of the Income-tax Act. To help make your trading experience as simple and stress-free as possible, Unocoin has jotted down every pointer that you need to know about the upcoming changes.

For anyone, one of the two TDS slabs applies to their crypto-asset transfer. The reader/Unocoiner can select one of the below slabs they fall into and change it in their User Settings in the app or website.

a) 1% if the user has filed Income Tax Returns for the last two years; or

b) 5%, if the user has not filed Income Tax Returns in at least one year of the last two years and has TDS deductions of equal to or more than INR 50,000 in at least one year (of the last two years).

For explanation purposes below, we consider that you fall under the 1% TDS bracket.

Few pointers:

  1. The TDS only applies if your total/cumulative/aggregate trades for TDS cross INR 10,000 in the financial year. (Explained with an example at a later stage)
  2. The TDS amount will be deducted by Unocoin from your trade value and deposited on your behalf.
  3. As per TDS guidelines, Unocoin will deduct the applicable percentage on both Sell and Buy orders for Crypto-to-Crypto transactions.

Within the prescribed timeline of TDS return filing, the deducted TDS amount will reflect in your Form 26AS. Readers/Unocoiners can claim this tax from the Income Tax department while filing their yearly Income Tax Return.

When is TDS applicable?

– INR-to-Crypto (Fiat to Crypto or F2C) Buy Orders — There is no TDS which is applicable

– Crypto-to-INR (Crypto to Fiat or C2F) Sell orders — 1% TDS applicable on the net order value

– Crypto-to-Crypto (C2C) Both Buy and Sell Orders — 1% TDS applies to the net order value.

Let us simplify this for you.

Example 1: Your trade is less than or equal to INR 10,000 in a financial year — No TDS deduction is applicable.

Sell Trade 1 of INR 10,000 — NO TDS applicable.

Order value = INR 10,000

Unocoin’s transaction fees (0.3% of INR 10,000) = INR 30

GST on transaction fees (18% of 0.3% of INR 10,000) = INR 5.4

Total receivable = INR 10,000 — (INR 30 + INR 5.4) = INR 9,964.6

Hence, TDS is not applicable.

When your subsequent Sell order adds to your previous Sell order(s) to make the total Sell order in a financial year more than INR 10,000:

Sell Trade 2 of INR 5,000 (in the same financial year) — TDS now applicable.

Order value = INR 5,000

Unocoin’s transaction fees (0.3% of INR 5,000) = INR 15

GST on transaction fees (18% of 0.3% of INR 5,000) = INR 2.7

Proceeds = INR 5,000 — (INR 15 + INR 2.7) = INR 4,982.3

TDS applicable (1% of (INR 9,964.6(Previous trade)+ INR 4,982.3)) = INR 149.46

Final calculation (Actual receivable amount) = INR 4,982.3 — INR 149.46 = INR 4832.84

All the subsequent trades hereafter will have regular 1% TDS till the end of the financial year.

Example 2: When your first Sell order is more than INR 10,000

Sell Trade 1 of INR 20,00,000 — TDS applicable.

If you place a Sell order for 1 BTC at INR 20,00,000, your order information will look something like this:

Order value = INR 20,00,000

Unocoin’s Transaction fees (0.3% of INR 20,00,000) = INR 6,000

GST on Transaction fees (18% of 0.3% of INR 20,00,000) = INR 1,080

TDS applicable = 1% of net order value, that is, 1% * (INR 20,00,000 — INR 6,000 — INR 1,080)) = INR 19,929.20

Final calculation (Actual receivable amount) = INR 20,00,000 — (6,000 + 1,080 + 19,929.80) = INR 19,72,990.80.

Crypto-to-Crypto trades: The TDS applies for both Buy and Sell transactions between one crypto and another crypto conversations.

What should you do now?

As a Unocoiner,

1. Please open Unocoin’s app and click on More.

2. Go to the User Settings section to find the new icon.

3. Select the appropriate tax slab you fall into. By default, the 1% slab would be selected.

What’s More?

  1. All Sell open orders on the exchange will be cancelled for lite users.
  2. All forms of transactions that will be executed, including exchange orders, will attract TDS from 1 July 2022.
  3. Users can find the information about their TDS in the invoices provided by Unocoin that gets generated within 48 hours of the trade.
  4. Please note that Unocoin (Website and Application) shall be under maintenance from 30 June at 10:00 PM IST until 30 June at 11:59 PM.

New TDS rules around Crypto. What does it mean for you?

Hey Unocoiner,

As you are likely aware, Tax Deduction at Source or “TDS” will be applicable on the transfer of “Virtual Digital Assets”, including crypto assets, from 1 July 2022, as per Section 194S of the Income-tax Act. To help make your trading experience as simple and stress-free as possible, Unocoin has jotted down every pointer that you need to know about the upcoming changes.

New TDS rules around Crypto. What does it mean for you?
New TDS rules around Crypto. What does it mean for you?

For anyone, one of the two TDS slabs applies to their crypto-asset transfer. The reader/Unocoiner can select one of the below slabs they fall into and change it in their User Settings in the app or website.

a) 1% if the user has filed Income Tax Returns in the last two years; or

b) 5%, if the user has not filed Income Tax Returns in at least one year of the last two years and has TDS deductions of equal to or more than INR 50,000 in at least one year (of the last two years).

For explanation purposes below, we consider that you fall under the 1% TDS bracket.

Few pointers:

  1. The TDS only applies if your total/cumulative/aggregate trades for TDS cross INR 10,000 in the financial year. (Explained with an example at a later stage)
  2. The TDS amount will be deducted by Unocoin from your trade value and deposited on your behalf.
  3. As per TDS guidelines, Unocoin will deduct the applicable percentage on both Sell and Buy orders for Crypto-to-Crypto transactions.

Within the prescribed timeline of TDS return filing, the deducted TDS amount will reflect in your Form 26AS. Readers/Unocoiners can claim this tax from the Income Tax department while filing their yearly Income Tax Return.

When is TDS applicable?

– INR-to-Crypto (Fiat to Crypto or F2C) Buy Orders — There is no TDS which is applicable

– Crypto-to-INR (Crypto to Fiat or C2F) Sell orders — 1% TDS applicable on the net order value

– Crypto-to-Crypto (C2C) Both Buy and Sell Orders — 1% TDS applies to the net order value.

Let us simplify this for you.

Example 1: Your trade is less than or equal to INR 10,000 in a financial year — No TDS deduction is applicable.

Sell Trade 1 of INR 10,000 — NO TDS applicable.

Order value = INR 10,000

Unocoin’s transaction fees (0.3% of INR 10,000) = INR 30

GST on transaction fees (18% of 0.3% of INR 10,000) = INR 5.4

Total receivable = INR 10,000 — (INR 30 + INR 5.4) = INR 9,964.6

Hence, TDS is not applicable.

When your subsequent Sell order adds to your previous Sell order(s) to make the total Sell order in a financial year more than INR 10,000:

Sell Trade 2 of INR 5,000 (in the same financial year) — TDS now applicable.

Order value = INR 5,000

Unocoin’s transaction fees (0.3% of INR 5,000) = INR 15

GST on transaction fees (18% of 0.3% of INR 5,000) = INR 2.7

Proceeds = INR 5,000 — (INR 15 + INR 2.7) = INR 4,982.3

TDS applicable (1% of (INR 9,964.6(Previous trade)+ INR 4,982.3)) = INR 149.46

Final calculation (Actual receivable amount) = INR 4,982.3 — INR 149.46 = INR 4832.84

All the subsequent trades hereafter will have regular 1% TDS till the end of the financial year.

Example 2: When your first Sell order is more than INR 10,000

Sell Trade 1 of INR 20,00,000 — TDS applicable.

If you place a Sell order for 1 BTC at INR 20,00,000, your order information will look something like this:

Order value = INR 20,00,000

Unocoin’s Transaction fees (0.3% of INR 20,00,000) = INR 6,000

GST on Transaction fees (18% of 0.3% of INR 20,00,000) = INR 1,080

TDS applicable = 1% of net order value, that is, 1% * (INR 20,00,000 — INR 6,000 — INR 1,080)) = INR 19,929.20

Final calculation (Actual receivable amount) = INR 20,00,000 — (6,000 + 1,080 + 19,929.80) = INR 19,72,990.80.

Crypto-to-Crypto trades: The TDS applies for both Buy and Sell transactions between one crypto to another crypto conversion.

What should you do now?

As a Unocoiner,

1. Please open Unocoin’s app and click on More.

2. Go to the User Settings section to find the new icon.

3. Select the appropriate tax slab you fall into. By default, the 1% slab would be selected.

What’s More?

  1. All Sell open orders on the exchange will be cancelled for Lite KYC users. You are a Lite KYC user if you have not added your PAN and Bank details to your Unocoin account.
  2. A fully verified user’s orders won’t get affected. A fully verified Unocoiner is the one who has added their PAN and Bank Details.
  3. All forms of transactions that will be executed, including exchange orders, will attract TDS from 00:00:00 IST 1 July 2022.
  4. Users can find the information about their TDS in the invoices provided by Unocoin that gets generated within 48 hours of the trade.
  5. Please note that Unocoin (Website and Application) shall be under maintenance from 30 June at 10:00 PM IST until 30 June at 11:59 PM IST.

Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:

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).