India’s leading bitcoin and crypto-assets exchange, Unocoin announced the launch of UNODAX. Simplifying its offerings, UNODAX is a dedicated platform for live order-book trading of various altcoins, supporting the growing ambition of highly active crypto traders with an extensive range of tools and functionalities.
UNODAX supports multiple crypto-assets and provides crypto trading enthusiasts with unlimited order validity and transparent order depth. Following a maker-taker fee model, it provides exclusive maker benefits. The maker fee is only 0.4%, while the taker fee is also reduced to 0.6%. UNODAX is accessible through a web portal, Android and iOS app.
Started in 2013, Unocoin is a Bangalore based technology startup and is India’s first entrant into the cryptoassets industry. The company operates India’s largest cryptoasset exchanges, which enables Indians to buy, sell, store, use, and accept cryptoassets. It also offers a full-featured mobile app, with 24/7 access to real-time cryptoassets market prices and instantaneous trading transactions. With over 1,200,000 customers, Unocoin processes transactions worth more than INR 2B, every month.
In just 4 years since inception, the company has drawn more than 30 top investors from 5 countries. Unocoin is responsible for industry-leading innovations such as the Bitcoin Systematic Buying Plan (SBP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The-Counter trading (OTC). In September 2016, Unocoin has raised $2 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. Funding was sourced from well-known Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital, Huiyin Ventures and FundersClub to move faster towards its vision of Making Money Simple through its mission Bringing Bitcoin to Billions.
Unocoin has launched a new order-based trading feature on its platform as part of a suite of updates on its iOS and Android application. The new feature on the platform is currently built to support six major crypto assets – Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP). The Stellar (XLM) coin will soon be released.
Commenting on the launch, Sathvik Vishwanath, Co-founder and CEO, Unocoin said,
“It is a crucial step for us to announce the launch of UNODAX and simultaneously, establish two distinguish and dedicated platforms for two of our fundamental offerings. While Unocoin will support bitcoin wallet services, UNODAX is exclusively meant for crypto trading enthusiasts, making available a range of dedicated services, tools and functionalities. Its launch follows our vision of simplifying the process for users and achieving better scalability and performance. We have also ensured a smooth transition for our existing users, without them suffering any hiccups in the process.”
With the launch of UNODAX, Unocoin has taken the crucial step of distinguishing two of its core products, in order to achieve better scalability and performance. The differentiation is followed by a UI upgrade as well. In addition to UNODAX, Unocoin serves as a bitcoin wallet and brokerage service platform. It will preserve the broader game to promote and flourish the use of bitcoin and build a robust ecosystem for cryptoassets with range of services, including systematic buying plan, merchant gateway, mobile and DTH payments, bitcoin wallet service and auto-selling bitcoin receivables.
This migration of exchange platform to UNODAX is being performed without any hiccups to Unocoin users. With both domains and services running on the same Unocoin backend servers, users will retain their login credentials and transaction history across the sites. For a user, nothing changes — except for the fact that you now get distinct websites that aims for speed and performance.