Unocoin Digital Asset Exchange’s Unodax Starts Crypto Basket Order Service
Unodax Gets New Crypto Basket to Encourage Crypto Shopping with Bitcoin, Ripple, and More
Unocoin is presently the leading cryptocurrency in India and has developed many advancements in recent months for consumers. The most publicized change occurred in May with the launch of their trading platform Unodax, which stands for “Unocoin Digital Asset Exchange.” However, the most recent development is their new crypto basket that lets them shop.
The exchange platform is already open for consumers, giving them freedom in their investments with many of the leading cryptocurrencies around the world. Their services include buying, selling, and transferring with the tokens that users carry in their wallets, which only take a few seconds. In fact, this platform is so free that the users establish the prices.
By setting up a basket order, the user can select multiple assets at once for purchase, while choosing their own fund distribution model. They have the option of allowing Unodax to make the decision for them, though many users will appreciate the value of deciding on their own model.
With the crypto baskets, users have two options for trading. The first option always them to wait for the prices to rise so they can exchange the holdings at a higher cost. This option limits the liquidity, since there wouldn’t be extra value available within the system. The other option allows the user to put down an order in the online book where traders decide on the cost of performing the trade, though this amount is negotiable, which also brings in new funds to the platform. When consumers place their orders, they are recorded as a “limit order” that takes on the current price of the assets, protecting the buyer from spending more than they need to.
All of these changes are ways to bring more awareness and revenue to the crypto industry, which are good moves for the market in India and for Unodax.