Buy and Sell bitcoin operations on Unocoin
Unocoin charges a fee of 1% to buy or sell bitcoins. Over an extended period of usage (minimum 60 days) and a significant transaction volume on your account, there will be an upgrade to “Gold Membership”. With this upgrade the transaction fee drops to 0.7% and giving you a higher transaction limit per day. A government levied IGST of 18.0% will be charged on the transaction fee. For example, if you are buying bitcoin for 10,000 INR, then the transaction fee at 1% will be 100 INR and the IGST on that transaction fee would be 18 INR. Hence you will end up paying 10118 INR in total. Net banking and PayU Money mode of payment to instantly buy bitcoin will incur an additional 1.9% transaction fee. Our IGST number is 29AABCU8112D1ZI.
When you buy bitcoins and opt to receive on an external bitcoin address as opposed to your Unocoin wallet, the network fee is incurred by Unocoin which means there will not be any deduction in bitcoins paid to you.
Sending and Receiving bitcoins on Unocoin
When you send bitcoins to an email-id or another Unocoin user, there is no fee. When sending bitcoins to a bitcoin address, Unocoin collects 0.0005 btc (from 17th March 2017 and this might increase if there is network congestion) that is deducted from your Unocoin balance which is paid to the network that is processing your transactions.
There is no fee for receiving bitcoins on your Unocoin wallet.
History of collected bitcoin transaction mining fee changes for sending bitcoin to a bitcoin address from your Unocoin wallet:
15th March 2016 to 16th March 2017: Bitcoin network fee was 0.0002 BTC
15th December 2013 to 14th March 2016: Bitcoin network fee was 0.0001 BTC
Storing bitcoins on Unocoin
There is no fee to store your bitcoins on Unocoin wallet.
P.S: The above fee are subject to changes without notice. You can visit this page using the link at the bottom of every web page for updates on the fee structure before completing a transaction.