Stay away from Unocoin.com !! slowest and poorest service on bitcoin network

[mynameisdon]

So there's manual approval by the team at Unocoin, but then that wouldn't be really necessary. Considering that all the KYC documents and PAN ID proof has been submitted the process should be automated henceforth. I found that doing an RTGS and/or IMPS through a trusted LocalBitcoin trader was the quicker way to buy and sell Bitcoins.

really?
so what about this article
https://bitcointalk.org/index.php?topic=222674.0  ?

 this person was  scammed by a trusted trader in localbicoin.i think trading with person is more risky than trading with exchange. i also scammed one time on localbitcoin for 5000rs from a trusted seller.so now i only buy and sell with exchange.

[1714006565]

1714006565

[1714006565]

1714006565

[1714006565]

1714006565

[1714006565]

1714006565

[btvGainer]

So there's manual approval by the team at Unocoin, but then that wouldn't be really necessary. Considering that all the KYC documents and PAN ID proof has been submitted the process should be automated henceforth. I found that doing an RTGS and/or IMPS through a trusted LocalBitcoin trader was the quicker way to buy and sell Bitcoins.

really?
so what about this article
https://bitcointalk.org/index.php?topic=222674.0  ?

 this person was  scammed by a trusted trader in localbicoin.i think trading with person is more risky than trading with exchange. i also scammed one time on localbitcoin for 5000rs from a trusted seller.so now i only buy and sell with exchange.

I agree.Dealing with an individual seller is more riskier than buying or selling.I dont understand why someone would prefer to risk his money when he has options to do it safely

[Divinespark]

I have used Unocoin in the past. By Indian standards, it is both a reliable and reasonably decent customer service. They are bound by Indian law and have to do certain things rigorously to stay in business.

[shadabahmed]

is purchase bitcoin from unocoin safe ?

[crypto-games-live]

yes...unocoin is safe..

[dashingriddler]

Also accepting that 6 confirmations are bit longer nearly double in the average case than any other websites require, btcxindia requires 3, coinsecure requires 3, loanbase requires 2, POP requires 3, local bitcoins requires 3. Most international exchanges require 3. I don't know what security they achieve with this extra 3 confirmations. 

agreed with you.
mostly me too seen many platform including exchange, trading sites,cloud mining, payment for shopping required maximum 3 network confirmation. and bitcoin.org also says that after 3 conformation bitcoin is secured. there will be no chance to reverse the coin.
so in my mind question is too why they need extra 3 conformation?

Hey
Since two months we only need 3 confirmations in total to credit your wallet.

Regards

[Pkzone]

Hello Indian brothers,
I want to tell all my Indian friends.. "Don't use unocoin.com for wallet services or buying / selling bitcoins.."
They are peoples hungry for money.. Adding heavy services charges and fees on buying.. And pay less for sold bitcoins...
If some one send u bitcoins.. U have to wait for 6 confirmations before u can touch ur bitcoins.(means 3-4 hour) . It's totally against bitcoins moto..
They making thr own rules.. Also according to the rules each bitcoins u send will be manually approved by admin before it transfered recivers wallet.. It takes 1 hour to 5 hour.. Can't say if u in hurry and need bitcoins.. Wait for admin to approve it all day.. Myself waited 2 day for btc I sent to a local shop for payment. And waited 1 hour standing for bitcoin transaction and no option left to call friend for help.. ( and if its holiday and u want to send bitcoins.. Simply forgot that u can..) ..
That's totally insane rules and procedures .. If u don't want to wait all day or pay heavy fees on each transaction or buying/ selling of bitcoins.. Stay away from this compny..
If we together leave thr service..  We can teach them a lesson..
Tell this to any indian bitcoin or unocoin user u know.. And tell them to stay away from unocoin.com
Thanx friends..
I belive my friends will not face what I faced ...

Bitcoin has NO official 'moto',, if it does, I'd say, Bitcoin's decentralization is a lie... A big one..

Unocoin is a exchange site, not a wallet, if you want a wallet, either 1) go Electrum 2) go Blockchain.info 3) Go Bitcoin Core 4) Go anything else that I don't care about.

[bitcoinisfurture]

I think all exchanges in India have the standard policy of 3 confirmations. Let see if any of them in coming time can make it to 2 confirmations.

[dashingriddler]

I think all exchanges in India have the standard policy of 3 confirmations. Let see if any of them in coming time can make it to 2 confirmations.

We do intend to do that sometime down the line. One stats I can share here is that at Unocoin, every transaction among 300k+ transactions that got the first successful confirmation always has got confirmed eventually. So in theory we could just wait for one confirmation only if we are not too risk averse.

Regards

[mynameisdon]

So there's manual approval by the team at Unocoin, but then that wouldn't be really necessary. Considering that all the KYC documents and PAN ID proof has been submitted the process should be automated henceforth. I found that doing an RTGS and/or IMPS through a trusted LocalBitcoin trader was the quicker way to buy and sell Bitcoins.

really?
so what about this article
https://bitcointalk.org/index.php?topic=222674.0  ?

 this person was  scammed by a trusted trader in localbicoin.i think trading with person is more risky than trading with exchange. i also scammed one time on localbitcoin for 5000rs from a trusted seller.so now i only buy and sell with exchange.

I agree.Dealing with an individual seller is more riskier than buying or selling.I dont understand why someone would prefer to risk his money when he has options to do it safely

i know why,because of anonymity .i don't know why people trade with stranger by keeping their money on risk just for hide their privacy.
may be they shy while sharing documents to any exchange.

[btvGainer]

So there's manual approval by the team at Unocoin, but then that wouldn't be really necessary. Considering that all the KYC documents and PAN ID proof has been submitted the process should be automated henceforth. I found that doing an RTGS and/or IMPS through a trusted LocalBitcoin trader was the quicker way to buy and sell Bitcoins.

really?
so what about this article
https://bitcointalk.org/index.php?topic=222674.0  ?

 this person was  scammed by a trusted trader in localbicoin.i think trading with person is more risky than trading with exchange. i also scammed one time on localbitcoin for 5000rs from a trusted seller.so now i only buy and sell with exchange.

I agree.Dealing with an individual seller is more riskier than buying or selling.I dont understand why someone would prefer to risk his money when he has options to do it safely

i know why,because of anonymity .i don't know why people trade with stranger by keeping their money on risk just for hide their privacy.
may be they shy while sharing documents to any exchange.

lol.I think they are afraid of legal action in future if bitcoin declared illegal or maybe they sell stolen coins or buying bitcoins with their black money

[mynameisdon]

So there's manual approval by the team at Unocoin, but then that wouldn't be really necessary. Considering that all the KYC documents and PAN ID proof has been submitted the process should be automated henceforth. I found that doing an RTGS and/or IMPS through a trusted LocalBitcoin trader was the quicker way to buy and sell Bitcoins.

really?
so what about this article
https://bitcointalk.org/index.php?topic=222674.0  ?

 this person was  scammed by a trusted trader in localbicoin.i think trading with person is more risky than trading with exchange. i also scammed one time on localbitcoin for 5000rs from a trusted seller.so now i only buy and sell with exchange.

I agree.Dealing with an individual seller is more riskier than buying or selling.I dont understand why someone would prefer to risk his money when he has options to do it safely

i know why,because of anonymity .i don't know why people trade with stranger by keeping their money on risk just for hide their privacy.
may be they shy while sharing documents to any exchange.

lol.I think they are afraid of legal action in future if bitcoin declared illegal or maybe they sell stolen coins or buying bitcoins with their black money

buying btc with black money ok.but selling stolen coin?
is coins defined by any things? if you give me stolen btc i will sell all in exchange with my id proof.there will be no problem.

[btvGainer]

So there's manual approval by the team at Unocoin, but then that wouldn't be really necessary. Considering that all the KYC documents and PAN ID proof has been submitted the process should be automated henceforth. I found that doing an RTGS and/or IMPS through a trusted LocalBitcoin trader was the quicker way to buy and sell Bitcoins.

really?
so what about this article
https://bitcointalk.org/index.php?topic=222674.0  ?

 this person was  scammed by a trusted trader in localbicoin.i think trading with person is more risky than trading with exchange. i also scammed one time on localbitcoin for 5000rs from a trusted seller.so now i only buy and sell with exchange.

I agree.Dealing with an individual seller is more riskier than buying or selling.I dont understand why someone would prefer to risk his money when he has options to do it safely

i know why,because of anonymity .i don't know why people trade with stranger by keeping their money on risk just for hide their privacy.
may be they shy while sharing documents to any exchange.

lol.I think they are afraid of legal action in future if bitcoin declared illegal or maybe they sell stolen coins or buying bitcoins with their black money

buying btc with black money ok.but selling stolen coin?
is coins defined by any things? if you give me stolen btc i will sell all in exchange with my id proof.there will be no problem.

Yes you are right but stolen coins can be traced and that may be the reason hackers prefer to stay anonymous

[spbtctrade]

Unocoin is a scam stay away worst ever exchange.

https://bitcointalk.org/index.php?topic=2082742.0

[Guvn0r]

Unocoin is a scam stay away worst ever exchange.

https://bitcointalk.org/index.php?topic=2082742.0

Unocoin is one of the best exchanges in India. Spamming negative comments in this forum probably wouldn't do anything to their reputation.

[onrise]

Well Unocoin is one of the reputable exchanges and an early adopter to bitcoin. Yes there have being couple of instances of security lapses but I think once instance they gave the btc back which were withdrawn from users wallet. I think Unocoin team should reply here exactly what is happening and what steps they are taking which will give confidence among its users and community too.

[mohucool]

Unocoin is nice startup may be you have had bad experience with them ...

Bitcoin buy/exchange services in india 

https://www.youtube.com/watch?v=V-QAxLEq7lE&t=15s

[midelou]

Been using Unocoin since 2015. No problem at all. Earlier, I had to wait 2 hours for my money to show up in my account but now I can instantly transfer my money to Unocoin to purchase bitcoins. Minimum buy is Rs 1000. Minimum withdrawal to your bank account is also Rs 1000. If you make a withdrawal early in the day, you'll get your INR by evening. The only minus point I find with Unocoin is their high rates. Rates at Coinsecure are lower the last time I checked.