Every crypto platform in India asks for KYC because since March 2023, virtual digital asset service providers have been covered by the Prevention of Money Laundering Act and must register with FIU-IND. Registered platforms have to verify who their customers are. On Unocoin, which is registered with FIU-IND as a reporting entity under the PMLA, that means verifying your PAN and authenticating your Aadhaar inside the app or website before you can add money and trade.
KYC is normal and it is required. What matters is where you do it. Enter your PAN and Aadhaar only inside the official app or website, never in a WhatsApp chat, a Telegram group, an email or a phone call. No genuine support team will ever ask for your OTP or password. And there is no legitimate way to buy Bitcoin on an Indian platform while skipping KYC.
The short answer
- Why: PMLA coverage of crypto platforms since March 2023, with FIU-IND registration.
- What: your PAN, Aadhaar authentication, and a +91 mobile number, plus a bank account in your own name for deposits.
- Where: only inside the platform's app or website.
- Never: share your OTP, password, or KYC documents in a chat or call.
Why every Indian platform asks for KYC
From March 2023, VDA service providers in India were brought under the PMLA, the law that also governs banks and other financial businesses on money laundering. That means registering with FIU-IND, the Financial Intelligence Unit, running KYC and anti-money-laundering checks, and reporting what the law requires.
I want to explain why I think strong KYC is good for you, not just for the platform. It is about rails.
In April 2018, the RBI directed the banks it regulates not to deal with crypto businesses, with three months to end existing relationships. Overnight, Indian exchanges could not move rupees through the banking system. Unocoin stayed open and was part of the case that the Supreme Court decided on 4 March 2020, setting the circular aside. I have seen what happens when the banking rails are cut. The platform cannot accept your deposit, cannot pay your withdrawal, and you are stuck.
Banks and payment partners will only keep serving crypto platforms if those platforms can show they know who their customers are and keep criminal money out. Good KYC is part of what keeps the rails open, so that when you want to withdraw rupees, the money can actually move. Skipping KYC does not protect you. It puts the rails you depend on at risk.
What you will be asked for
On Unocoin, the flow is:
- Sign up with your +91 mobile number and verify it with an OTP that you type in yourself.
- Verify your PAN.
- Authenticate your Aadhaar.
- Link a bank account in your own name for IMPS or NEFT deposits.
Your PAN matters for another reason too. Tax deducted on your sales, the 1% TDS under section 194S, is credited to your PAN. It shows up in Form 26AS and your Annual Information Statement, and you claim it when you file. Correct PAN details at KYC make that work.
Where to enter it, and where never to
Enter KYC details only inside the official app or website that you downloaded or typed in yourself. Not through a link someone sent you.
Never send your PAN card photo, Aadhaar card, OTP or password to:
- anyone on WhatsApp, Telegram or social media who says they are support;
- anyone who calls you to "complete" or "re-verify" your KYC;
- an "agent" who offers to open an account for you;
- a friend who offers to do it on your behalf.
Our AI guide on the home page is built the same way. It never asks for your OTP, password, seed phrase, PAN or Aadhaar numbers, and it hands account questions to Unocoin support. If anything claiming to be us asks for those in a chat, it is not us.
Most people who lose money in their first year are not beaten by the market. They are beaten by someone friendly on the phone. KYC fraud is a common opening move.
Common reasons KYC gets stuck
- Name mismatch. The name on your PAN, Aadhaar and bank account should match. Small differences in spelling or initials can stop verification.
- Unclear images. Blurry or cropped photos, glare on the card, or a selfie in poor light.
- Mobile not linked. Aadhaar authentication often relies on the mobile number linked to your Aadhaar.
- Third-party bank account. Deposits from an account that is not in your name will cause problems.
If you are stuck, contact support directly: support@unocoin.com, +91 7788978910, or toll-free 1800-103-2646, Monday to Saturday, 9:30 AM to 6:30 PM IST. Start the conversation yourself through those channels. Do not reply to someone who reached out to you first.
Protecting your account after KYC
Once your account is verified, it is worth more to a scammer, so treat it that way. Turn on two-factor authentication. Use a password you do not use anywhere else. Open the app from your phone or type the website address yourself, rather than tapping links in SMS or email messages, because fake login pages are a common trick.
Watch for the classic scripts. "Your KYC is expiring, verify now." "Your account will be blocked unless you share the OTP." "We are from support, we see a suspicious withdrawal, read me the code." Every one of these is a scam. A real platform does not need you to read a code to anyone.
And if you ever do share something by mistake, act fast: change your password, contact support through the official numbers, and if money has moved, report it on the national cybercrime helpline or portal and to your bank.
What happens after approval
Once your KYC is approved, you can add rupees by IMPS or NEFT, and INR deposits on Unocoin are free. Then you can buy instantly (0.5% fee plus 18% GST on the fee) or start a Systematic Buying Plan from ₹10 with ₹0 SBP fees. You can also move Bitcoin to your own wallet anytime with zero-fee transfers.
Your activity is now linked to your identity. That is the point. Your sales carry TDS, and every sale goes into Schedule VDA of your return. Profit is taxed at 30% plus 4% cess on the tax, and losses cannot be set off. Keep your records and check your situation with a CA. The tax guide explains it in plain words.
Can you buy Bitcoin in India without KYC?
Not on a registered Indian platform, and I would not try anywhere else. Routes that promise to skip KYC usually mean an unregistered operator, a stranger's UPI ID, or an offshore site with no accountability to you. People who take those routes risk scams, frozen bank accounts and money they cannot trace. They also give up any of the protections that come from dealing with a registered business.
Crypto is unregulated in India, and there may be no regulatory recourse for loss. Registration does not change that. But a registered platform that knows its customers, deducts TDS and reports properly is one you can at least check. The Is Unocoin safe? page shows every check with a source, and the Supreme Court story explains why banking access matters so much here.
Common questions
Is it safe to give PAN and Aadhaar to a crypto app?
Only inside the official app or website of a platform registered with FIU-IND. Never send them through chat, email or a phone call, and never share your OTP or password.
Can I buy Bitcoin without KYC in India?
Not on a registered Indian platform. Since March 2023 VDA service providers are covered by the PMLA and must verify customers. Routes that skip KYC carry serious risk.
How long does crypto KYC take?
It depends on the platform and on whether your details match. Mismatched names, unclear images or a mobile not linked to Aadhaar are common reasons for delays.
Will support ever ask for my Aadhaar on WhatsApp?
No. KYC happens inside the app or website. No genuine support team will ask for your Aadhaar, PAN, OTP or password in a chat or call.