How to Verify Unocoin Account (INDIA):Bitcoins

Hello guys welcome back to the world of virtual money.Today in this post we will learn about :-
              What are bitcoins?Is it Legit to use them in India?
              How to Send/Receive Bitcoins In India (With Unocoin)?
              Full Guide About Unocoin.
              How to verify your Unocoin Account?
So let us start our indian bitcoin journey....

What are bitcoins?Is it Legit to use them in India?
Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network.
Yes it is legal to use bicoins in India.

How to Send/Receive Bitcoins In India (With Unocoin)?
You can send/receive bitcoins easily in india using different bitcoin wallets but unocoin is the best option for indians with low fees and less formalities.To send/receive bitcoins with unocoin you should have your account verified which I have explained below in this guide.

Full Guide About Unocoin :-
Unocoin is a new bitcoin wallet for Indians.Their company is established in banglore.With Unocoin you can send/receive bitcoins from/to any other bitcoin wallets like coinbase,igot,blockchain,etc.You can buy bitcoins directly from your bank account and once you successfully sell your BTCs,you can withdrawl your money which is in Indian National Rupee (INR) directly to your local bank account.

At Unocoin, the price is calculated based on the bitcoin to USD exchange rate taken from various credible exchanges and its own orders. The main factors that influence its value are: The current USD to INR exchange, market fluctuations and most importantly the demand/supply of bitcoins. Every trading platform offers a buyer's price and a seller's price in order to meet (may not be the same across exchanges). In India we have seen this meeting price to be more than the international exchanges as the supply of bitcoins in India is comparatively limited. In a way every exchange is independent of each other and when there is a vast difference in prices between them there will always be speculators looking to make an arbitrage which consequently brings the rates more or less in sync with other exchanges. On some trading websites like Unocoin that is specific to a country (India), making a global arbitrage almost impossible. Hence it takes longer for its prices to sync with other international exchanges when there is a sudden spike or drop in bitcoin prices.

Unocoin Fees :-
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 Service Tax of 12.36% will be charged on the transaction fee.
When you buy bitcoins and opt to receive on an external bitcoin address as opposed to your Unocoin wallet, there is network fee of 0.0001 incurred by Unocoin which means there will not be any deduction in bitcoins paid to you.
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 0.0001 btc which is paid to the network that is processing your transactions.
There is no fee for receiving bitcoins on your Unocoin wallet.

How to verify your Unocoin Account?

STEP 1:- Click Here and signup.Once you finish registeration just check your email account and verify your email address. ( Use Referral Code :- U11088)
STEP 2:- Now login to your unocoin account and fillup your personal details.

STEP 3:- Now for verification you should have:-
                     Pan Card
                     Address Proof (Such as Aadhar card,driving License or Utility Bill showing your address) NOTE :- Your address proof should match the address you provided.
                     Your own profile picture
                       Scan all these documents and upload them to the provided fields accordingly.
STEP 4:- After uploading all these documents you will see VERIFICATION PENDING.After this within 48 hours you will have a phone call by unocoin in which they willl ask you about all your personal details like name,address,date of birth etc (Tell them the exact information as you filled in your unocoin account).
              Once you give them the correct information your unocoin account will verify instantly.ENJOY!
Once you are a verified member, you will receive a wallet address which can be seen on the “Send/ Receive Bitcoins” page. This wallet address is unique to your account.Now just add your bank details and start your transactions with unocoin.
 
As a verified member, you will be able to buy bitcoins on Unocoin. Click on “Buy/Sell Bitcoin” link, goto "Buy Bitcoins" page and enter how many bitcoins you would like to buy or for how much in INR. Then choose how you wish to pay for your bitcoins - either through NEFT/RTGS/IMPS or through INR balance. If you opt for NEFT/RTGS, you will get a unique transaction id number which you preferably should include as a note while you do the NEFT/RTGS. If there is a delay in receiving your NEFT/RTGS/ IMPS payment at our end or if your payment reaches us after working hours, we reserve the right to alter your order to match the exchange rate at the time. Buying using INR balance is instanteneous.

How can I send bitcoins as a gift to my friend who does not know about Bitcoin?

On the "Send/Receive Bitcoins" page, you will notice an option to either key in a bitcoin address or email id of the recipient, or a bitcoin address from your address book. Type in the recipient's email id here along with the number of bitcoins you wish to send and hit the "Send" button to confirm the transaction. If the recipient is not a current Unocoin member, they will also receive an email with an introduction to bitcoin and how they can claim your bitcoin gift. You will receive an email notification when the recipient registers on Unocoin and claims the gift. If the recipient fails to claim those bitcoins in 7 days, you will receive a new message that will allow you to reclaim those coins.

Conclusion :-
Bitcoins in india are the best alternative for freelancers using paypal.And Unocoin is the best bitcoin wallet for indians.
If you have any doubt or problem feel free to comment below.

                                          CLICK HERE AND SIGNUP FOR UNOCOIN

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