Unocoin - Simple, Safe and Secure Way for Buying, Selling and Storing Bitcoins

[Wapinter]

When will you start accepting credit and debit card payments?that would further speed up the buying process

We do not have plans of accepting credit or debit cards because of the transaction fee and associated risk of charge backs.

I regularly use my debit card to make purchases.The transaction fee is too low for me to even notice it (I really dont know if it exist)and never heard of charge back in debit card transaction.Anyway if you dont intend to allow it,its okay.

[dashingriddler]

When will you start accepting credit and debit card payments?that would further speed up the buying process

We do not have plans of accepting credit or debit cards because of the transaction fee and associated risk of charge backs.

I regularly use my debit card to make purchases.The transaction fee is too low for me to even notice it (I really dont know if it exist)and never heard of charge back in debit card transaction.Anyway if you dont intend to allow it,its okay.

You as a outer will not pay transaction fee. It is the seller who would pay as much as 3% transaction fee including the payment gateway fee. If you can use debit card to purchase, our argument is that you can use your online banking as well and hence save us the fee which we would pass on to the customer in case if we start accepting the debit card. Yeah I have not heard of charge back on debit cards but surely exist on credit cards.

[Wapinter]

When will you start accepting credit and debit card payments?that would further speed up the buying process

We do not have plans of accepting credit or debit cards because of the transaction fee and associated risk of charge backs.

I regularly use my debit card to make purchases.The transaction fee is too low for me to even notice it (I really dont know if it exist)and never heard of charge back in debit card transaction.Anyway if you dont intend to allow it,its okay.

You as a outer will not pay transaction fee. It is the seller who would pay as much as 3% transaction fee including the payment gateway fee. If you can use debit card to purchase, our argument is that you can use your online banking as well and hence save us the fee which we would pass on to the customer in case if we start accepting the debit card. Yeah I have not heard of charge back on debit cards but surely exist on credit cards.

If course I can use online banking but as yiu may be aware theres is a timing restrictions on NEFT/IMPS transactions.I am an sbi account holder and they allow NEFT/IMPS  etc transaction only during working hours.So if I want to buy bitcoin after 7:30 pm I have to wait till next morning

[buysellbitcoin]

When will you start accepting credit and debit card payments?that would further speed up the buying process

We do not have plans of accepting credit or debit cards because of the transaction fee and associated risk of charge backs.

I regularly use my debit card to make purchases.The transaction fee is too low for me to even notice it (I really dont know if it exist)and never heard of charge back in debit card transaction.Anyway if you dont intend to allow it,its okay.

You as a outer will not pay transaction fee. It is the seller who would pay as much as 3% transaction fee including the payment gateway fee. If you can use debit card to purchase, our argument is that you can use your online banking as well and hence save us the fee which we would pass on to the customer in case if we start accepting the debit card. Yeah I have not heard of charge back on debit cards but surely exist on credit cards.

If course I can use online banking but as yiu may be aware theres is a timing restrictions on NEFT/IMPS transactions.I am an sbi account holder and they allow NEFT/IMPS  etc transaction only during working hours.So if I want to buy bitcoin after 7:30 pm I have to wait till next morning

Just to make it clear

RTGS : upto 2:30, 3 PM
NEFT : Upto 6 or 6:30 PM
IMPS : 24*7, 365

You will need to add beneficiary in all case. Different banks have different cooling period and first transaction limits on beneficiaries.

Thanks and Regards

[dashingriddler]

When will you start accepting credit and debit card payments?that would further speed up the buying process

We do not have plans of accepting credit or debit cards because of the transaction fee and associated risk of charge backs.

I regularly use my debit card to make purchases.The transaction fee is too low for me to even notice it (I really dont know if it exist)and never heard of charge back in debit card transaction.Anyway if you dont intend to allow it,its okay.

You as a outer will not pay transaction fee. It is the seller who would pay as much as 3% transaction fee including the payment gateway fee. If you can use debit card to purchase, our argument is that you can use your online banking as well and hence save us the fee which we would pass on to the customer in case if we start accepting the debit card. Yeah I have not heard of charge back on debit cards but surely exist on credit cards.

If course I can use online banking but as yiu may be aware theres is a timing restrictions on NEFT/IMPS transactions.I am an sbi account holder and they allow NEFT/IMPS  etc transaction only during working hours.So if I want to buy bitcoin after 7:30 pm I have to wait till next morning

Just to make it clear

RTGS : upto 2:30, 3 PM
NEFT : Upto 6 or 6:30 PM
IMPS : 24*7, 365

You will need to add beneficiary in all case. Different banks have different cooling period and first transaction limits on beneficiaries.

Thanks and Regards

With Unocoin, you can leave your INR on your INR wallet and buy bitcoin anytime.
For our bank with HDFC, RTGS is working till 4pm, NEFT working till 7pm and IMPS is 24x7. But with state banks NEFT is stopping at 6pm itself - not sure why. seems they differ slightly from bank to bank.

[freedomno1]

I was reading through the OP and noticed a prompt reply to a support request just a moment ago and it made me somewhat interested in your service and how it has grown basically wanted to get a global perspective on how India's adoption is going and how exchanges are operating in other countries.
An Unocoin snapshot would be nice if you don't mind me asking.

[Bitcoin Explorer]

You don't have a trading API?
What about the trading volumes? Why aren't they public?

[freedomno1]

You don't have a trading API?
What about the trading volumes? Why aren't they public?

Draper/Sibert funded a seed launch a while back, looked into it but they have really been fairly quiet behind the scenes so it made me interested in how they are progressing.
http://www.business-standard.com/article/specials/the-men-behind-india-s-first-bitcoin-exchange-114100900750_1.html

[dashingriddler]

I was reading through the OP and noticed a prompt reply to a support request just a moment ago and it made me somewhat interested in your service and how it has grown basically wanted to get a global perspective on how India's adoption is going and how exchanges are operating in other countries.
An Unocoin snapshot would be nice if you don't mind me asking.

I would say the adoption of bitcoin in India is slowly picking up pace. We are seeing better slopes in the users registration graph month over month.
The merchant adoption dont seem to increase through. In India, people are too buzy to improve unless they witness a drastic advantage - they are not able to foresee this yet.
We are not an exchange but a trading platform. The difficulty for us to trade or square off with international exchanges due to capital controls which is forcing us to create our own market with in India.

Regards

[dashingriddler]

You don't have a trading API?
What about the trading volumes? Why aren't they public?

In development. This will be released in next few months along with the mobile app. The mobile app would actually be using the same api.

[dashingriddler]

You don't have a trading API?
What about the trading volumes? Why aren't they public?

Draper/Sibert funded a seed launch a while back, looked into it but they have really been fairly quiet behind the scenes so it made me interested in how they are progressing.
http://www.business-standard.com/article/specials/the-men-behind-india-s-first-bitcoin-exchange-114100900750_1.html

Yeah, there is a silence before the storm
I can just say the operations have kept us really buzy for time being.

[Bitcoin Explorer]

You don't have a trading API?
What about the trading volumes? Why aren't they public?

In development. This will be released in next few months along with the mobile app. The mobile app would actually be using the same api.

Alright.

[techsuvidha]

Once i tried Unocoins, but they have very slow processing! They take around 1-2 day to credit cash in unocoin account sent through IMPS. So if you plan to buy bitcoins instantly, then unocoin is highly not recommended! Till the time they credit your funds in your unocoins wallet, the buying price would be different!

Also their call support executives are just WORST. They don;t know how to resolve the problem of their customers and are rude.

Didn't had a pleasant experience at all with them, hope they will decrease their processing time and come up with good client support in the near future!

[dashingriddler]

Once i tried Unocoins, but they have very slow processing! They take around 1-2 day to credit cash in unocoin account sent through IMPS. So if you plan to buy bitcoins instantly, then unocoin is highly not recommended! Till the time they credit your funds in your unocoins wallet, the buying price would be different!

Also their call support executives are just WORST. They don;t know how to resolve the problem of their customers and are rude.

Didn't had a pleasant experience at all with them, hope they will decrease their processing time and come up with good client support in the near future!

The time it takes to credit INR in your wallet depends upon if you have done the transfer during our non-processing hours. The timings is displayed on the page you create the INR deposit. If done during those hours, we process it usually in 2 hours time. We do not have any instant credit solution though. Yes I am sure the price keeps varying - so it could be different by the time your credit gets processed.

Our customer support do not process your deposit orders nor they can prioritize it. They can only inform you the status. We usually do not see them being rude, but please let me know the exact time of your call so that we can listen to the recorded conversation and take appropriate measures to make the user experience much better.

No matter what, we have accepted your feedback and would pass it on to customer service department head to advice their colleagues appropriately.

[techsuvidha]

Once i tried Unocoins, but they have very slow processing! They take around 1-2 day to credit cash in unocoin account sent through IMPS. So if you plan to buy bitcoins instantly, then unocoin is highly not recommended! Till the time they credit your funds in your unocoins wallet, the buying price would be different!

Also their call support executives are just WORST. They don;t know how to resolve the problem of their customers and are rude.

Didn't had a pleasant experience at all with them, hope they will decrease their processing time and come up with good client support in the near future!

The time it takes to credit INR in your wallet depends upon if you have done the transfer during our non-processing hours. The timings is displayed on the page you create the INR deposit. If done during those hours, we process it usually in 2 hours time. We do not have any instant credit solution though. Yes I am sure the price keeps varying - so it could be different by the time your credit gets processed.

Our customer support do not process your deposit orders nor they can prioritize it. They can only inform you the status. We usually do not see them being rude, but please let me know the exact time of your call so that we can listen to the recorded conversation and take appropriate measures to make the user experience much better.

No matter what, we have accepted your feedback and would pass it on to customer service department head to advice their colleagues appropriately.

I called between 10:00am to 12:00pm on 4th Nov. After 10-12 calls with no response, someone picked my call! You may check the recording! In case you need the number from which i called them, i can provide it in PM!

[Magnesium Coin]

I tried to signup on Unocoin in order to try out their service but it needs detailed verification in order to start the first transaction.

Since Bitcoin is anonymous, I don't endorse providing my personal details to a company whose owner is a single entity!

That's why I prefer verifying at LocalBitcoins since they aren't owned by a single entity and is universally accredited. I don't feel safer to share my personal details on Unocoin, where data theft can be possible.

I hope they deal with this and then I may try out their service in future.

Good Luck.

[dashingriddler]

I tried to signup on Unocoin in order to try out their service but it needs detailed verification in order to start the first transaction.

Since Bitcoin is anonymous, I don't endorse providing my personal details to a company whose owner is a single entity!

That's why I prefer verifying at LocalBitcoins since they aren't owned by a single entity and is universally accredited. I don't feel safer to share my personal details on Unocoin, where data theft can be possible.

I hope they deal with this and then I may try out their service in future.

Good Luck.

Most of the trading platforms and exchanges need you to provide info and documents. The concerns you expressed is true for all the trading platforms and exchanges.

These processes exist to provide safe and secure Bitcoin and its transactions for its customers.

[Astik]

Dear,

 Today I trying to open a unocoin  site but it is not opening. why I am coinfused.

Please help me

astik pukale

[Astik]

DEar

Thanks now its is stated

Thanks.

[dashingriddler]

Had a huge number of requests which had made our server slow. For now it is looking normal.