Categories: Bitcoin In India
June 1, 2018
| On 12 months ago

What is Unocoin’s ‘UNODAX’?

By Shalini Singh @Shalini_Singh15

Indian Exchange Unocoin Launches multi-cryptoasset exchange platform, “UNODAX

Amidst all the controversies and uncertainties that surround the digital currencies, Unocoin has taken a step ahead for expanding their horizons in Indian crypto market.

Unocoin, India’s first Bitcoin trading platform has announced the launch of ‘UNODAX’, a multi-crypto asset exchange.

Unocoin has tried a different approach by creating a new crytoassets exchange platform that would allow the exchange of various cryptocurrencies.

Unocoin supports only Bitcoin trading, but UNODAX will allow buying and selling of multiple cryptoassets which would include Bitcoin, Ethereum, Ripple and Litecoin using Indian currency.

Unocoin tweeted:

“Unocoin has come up with a new user interface that makes crypto exchange simpler and secure for the customers. Unocoin has also launched UNODAX exclusively for crypto traders where they can place multiple orders.”

UNODAX (Unocoin Digital Asset Exchange) is said to follow the Maker-Free fee model that allows a low taker fee of 0.6 percent and also provides a bonus of 0.3 percent on maker transactions.

While the maker’s order gets immediately queued in the order book, the taker’s order gets filled instantly.

Users can download the UNODAX application on both iOS and Android. The UNODAX platform offers features of live order-book trading along with features like transparent order depth, maker bonuses, unlimited order validity and multi-cryptoasset support.

In addition to using the same account details, the app would also retain the user’s transaction history.

A few users felt some issues while using the app and they complained after UNODAX’s app went live. The company told them to update the app and log in again for resuming trading activities.

Unocoin’s blog gives assurance to people that the UNODAX app will not change anything for users but provide them an alternate as they would have two websites which aim for ‘speed and performance’.

Shalini Singh @Shalini_Singh15

A Writer | A Reader | Above all- A Human Being constantly looking forward to pushing the envelopes!

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