Zebpay Evaluation: Does Zebpay Hold the Key to Revolutionary Change?
Discover Zebpay: The Secure and Unhackable Cryptocurrency Exchange
Introduction
If you’re in search of an exchange that prioritizes security and has an impeccable track record, look no further than Zebpay. Established in 2014, Zebpay boasts a user base of over 5.5 million individuals. Read on to find out why this exchange might be the perfect fit for you.
Overview
Official Website
https://zebpay.com/
Year of Foundation
2014
Headquarters
Ahmedabad, Gujarat – India
Trading Volume
$430k
Trading Options
Spot Trading (Limit, Market, Stop orders)
Trading Fees
Maker fees: 0.15%
Taker fees: 0.25%
Total Listed Coins
80+
Trading Pairs
100+
Supported Fiat Currencies
EUR, AUD, SGD, USD
Withdrawal Options
ERC supported
Bank Withdrawal Supported
Yes
Withdrawal Fees
Depends on cryptocurrencies
Deposit Methods
Bank Transfer
Restricted Countries
7+
Native Token
No native token
Mobile App
Available on Apple & Google Play Store
Support Channel
https://help.zebpay.com/support/home
Coinpedia Rating
12/10
Security Rating
8/10
User Interface
User-friendly
Ease of Setup
Simple
App Store Rating
3.8
Play Store Rating
3.3
Security
Highly secure
Hacking Attempts/Hacks
Has never experienced a hack
KYC Verification Duration
48 hours
Regulation & Compliance
Compliant
Liquidity
Moderately liquid
Proof of Reserve
Not yet published
What is Zebpay?
Zebpay is one of the world’s fastest-growing cryptocurrency exchanges, founded in 2014 by Sandeep Goenka, Saurabh Agarwal, and Mahin Gupta. In 2020, Rahul Pagidipati acquired the company and assumed the role of CEO. However, he stepped down from this position in June 2021, appointing Avinash Shekhar as the new CEO. Avinash has since embarked on his entrepreneurial journey in the Web3 Space, and Rahul Pagidipati has returned as CEO of the company.
Currently, Zebpay has garnered 5.5 million traders and facilitated a trading volume of $3 billion across 160 countries. The platform offers an exclusive feature called Crypto Ki Pathshala, aimed at educating Indians about cryptocurrencies in their regional language, Hindi. Despite offering only 150+ cryptocurrencies, Zebpay remains one of the leading exchanges in India.
In terms of trading fees, Zebpay charges 0.25% for beginners, while high-volume traders enjoy a reduced maker fee of 0.06% and a taker fee of 0.10%. Although there are currently no referral programs, the Quick Trade feature makes it convenient for anyone to purchase cryptocurrencies.
Timeline
Oct 2014
Zebpay launched, with the first employee hired
July 2015
Mobile app launched
Dec 2017
Achieved $1 billion in trading volume
Apr 2018
Achieved $2 billion in trading volume
Dec 2018
Global exchange launched
Jan 2019
Operations expanded to Australia
March 2019
Integrated Lightning Payments
Apr 2019
Granted membership in Blockchain Australia
Jan 2020
Operations expanded to Singapore
January 2020
Rahul Pagidipati acquires Zebpay
March 2020
Relaunched in India
Dec 2021
Avinash Shekhar becomes CEO of the company
Dec 2022
Rahul Pagidipati returns as CEO
Features
Trading Options
– Only spot trading is available, with market, limit, and stop orders
Trading Fees
– Maker fee: 0.15%
– Taker fee: 0.25%
Crypto Lending
– Zebpay offers a lending feature that allows users to earn a specific annual yield based on the lending period.
Crypto Ki Pathshala
– An exclusive learning section aimed at educating Indian crypto enthusiasts. This free video series covers over 70 crypto topics and is presented in Hindi, the most widely spoken language in India. However, this could be a drawback for South Indians who are less familiar with Hindi.
Security
– Zebpay has partnered with BitGo, a global leader in digital asset custody, to ensure wallet security. BitGo provides $100 million in insurance coverage to protect Zebpay members. Additionally, Zebpay has partnered with Chain Analysis to maintain the integrity of blockchain transactions, providing blockchain data and analysis to government authorities. 98% of funds are stored in cold storage.
Cryptocurrencies Available on Zebpay
Zebpay offers a selection of over 150 cryptocurrencies. Some of the popular options include:
– Bitcoin
– Ethereum
– Tether
– BNB
– USD Coin
– USDC
– Binance USD
– XRP
– Dogecoin
– Cardano
– Polygon
How to Create an Account on Zebpay?
To create an account on Zebpay, follow these steps:
1. Click on “Sign Up”
2. Provide the necessary details, such as your name, email ID, and phone number
3. Set a 4-digit PIN password
4. Click “Continue”
5. Enter the OTP sent to your mobile number and email ID
6. Enter the 4-digit PIN password
7. Congratulations! Your account is now open.
To complete KYC verification, you must register through the mobile app. Follow these steps:
1. Click on “Verify KYC” in the mobile app
2. Upload your ID document and complete the necessary declarations
3. Use your Pan Card as ID proof
4. For address proof, you can upload supporting documents such as a Pan Card, Aadhar Card, Driving License, Passport, or Utility bill from the last three months. Click “Continue”
5. Select your source of funds and occupation. Your KYC verification will be completed soon, and you will receive a notification once it’s done.
6. You can now proceed to update your bank account details for fiat deposits and withdrawals.
Please note the following:
– The name and date of birth on your ID and address proof must match.
– You must be at least 18 years old to create an account with ZebPay.
– The name on your Pan Card must match the bank account you wish to register with.
How to Buy Cryptocurrency on Zebpay?
To buy cryptocurrency on Zebpay, follow these steps:
1. Log in to your ZebPay account. Make sure you have deposited fiat money in your wallet using a bank transfer.
2. Click on “Quick Trade” or “Exchange,” depending on your preference.
3. Enter the INR amount you want to invest.
4. Preview your order and check all the details.
5. Place your order.
6. You can buy Bitcoin with a minimum amount of 99 INR. The exchange operates 24/7, allowing you to buy Bitcoin at any time.
How to Sell Cryptocurrency on Zebpay?
To sell cryptocurrency on Zebpay, follow these steps:
1. Log in to your ZebPay account.
2. Click on “Quick Trade” or “Exchange,” depending on your preference.
3. Select the cryptocurrency you want to sell.
4. Enter the amount you want to sell.
5. Preview your order and review all the details.
6. Place your order.
Selling cryptocurrency on Zebpay is as simple as that.
How to Deposit Cryptocurrency on Zebpay?
To deposit cryptocurrency on Zebpay, follow these steps:
1. Log in to your ZebPay account.
2. Click on “Quick Trade” and select the cryptocurrency. Click on the three vertical dots next to the selected cryptocurrency and click “Deposit.”
3. Tap on “Add New Address” to create a new receiving address.
4. Enter a name to label the address and click “Save.”
5. You can either scan the QR code, copy it, or share the address via email or instant messaging.
How to Withdraw Cryptocurrency on Zebpay?
To withdraw cryptocurrency on Zebpay, follow these steps:
1. Ensure you have completed the KYC process to send and receive crypto.
2. Log in to your ZebPay account.
3. Select the cryptocurrency you want to withdraw, click on the three dots, and click “Send.”
4. Click on “Add New Address.”
5. Add the beneficiary’s name, destination tag, and beneficiary platform, then click “Save.”
6. Select the cryptocurrency address from the list and initiate the transaction.
7. Enter the amount of cryptocurrency you want to send.
8. Enter your 4-digit PIN, fingerprint, or FaceID (for iOS users) and OTP to authenticate the transaction.
9. If a transaction hash is generated but funds are not credited to the receiving wallet address, contact the receiving wallet address provider.
10. If no transaction hash is generated within 5 minutes for the send transaction, raise a ticket with the transaction details, and the support team will resolve the issue promptly.
Exchange Fees and Supported Payment
There are no charges for depositing cryptocurrencies. However, fiat deposits incur a flat fee of 12 INR, while fiat withdrawals incur a flat fee of 15 INR.
Zebpay uses a maker/taker model in a tier system based on a 30-day trading volume to calculate trading fees. For beginners, the maker fee is 0.15% and the taker fee is 0.25%. As your trading volume increases, your trading fee decreases. VIP 3 customers enjoy a maker fee of 0.06% and a taker fee of 0.10%.
Referral
Zebpay has temporarily discontinued its referral programs as of August 26, 2022, but they are working on launching a new referral program. Stay tuned for updates on the Promotions page. Meanwhile, you can subscribe to the email newsletter to stay informed about the latest offers and promotions.
Customer Support
If you have any questions, you can chat with Ziva (Zeb Interactive Virtual Assistant), a chatbot that provides information on various crypto-related topics, including deposits, withdrawals, and trading.
Zebpay Exchange also offers a dedicated support section with FAQs and customer queries. This knowledge base covers everything from setting up an account to depositing/withdrawing crypto, KYC verification, and troubleshooting.
For urgent or emergency issues, you can raise an email ticket, and the support team will respond within 24 hours.
Mobile App
Zebpay’s mobile app is a fast and secure cryptocurrency exchange platform designed to assist crypto investors from over 160 countries. The app was launched in 2015 and has a rating of 3.4 stars. With the Quick Trade feature, owning cryptocurrencies has never been easier. The app features a simple user interface that caters to both beginner and advanced traders.
Recent Updates
May 9, 2023
– Zebpay announced its collaboration with TaxNodes, an ITR filing platform in India. This partnership enables simplified tax filings for VDAs and includes services for crypto tax calculations, ITR filing, and expert consultations.
December 1, 2022
– Rahul Pagidipati returned as the CEO of Zebpay, while former CEO Avinash Shekhar embarked on his entrepreneurial journey in the Web3 Space.
Conclusion
Zebpay Exchange offers a secure and user-friendly platform for buying, selling, and storing cryptocurrencies. With reasonable trading fees and robust security measures, it provides a reliable option for crypto enthusiasts. Furthermore, 95% of its users are from India.
The exchange is dedicated to educating more Indians about cryptocurrencies in their native languages. The Quick Trade feature is particularly beneficial for investors interested in holding cryptocurrencies. The trading fees are reasonable, and the supported fiat currencies are limited to INR, AUD, and EUR.
Zebpay Exchange caters to both novice and experienced traders with its easy-to-use platform. The lack of a referral program and limited earning opportunities may be disappointing for some users. Additionally, a monthly membership fee of 75 INR is applicable, but this can be easily avoided by making at least one trade per month.
Zebpay Exchange has never experienced a hack and boasts a responsive customer support team that addresses queries within 12 hours. We highly recommend Zebpay to Indian residents.
FAQs
What is ZebPay?
ZebPay is a cryptocurrency exchange that allows users to buy, sell, and trade various cryptocurrencies.
Is Zebpay legal in India?
Zebpay temporarily ceased operations in India in 2018 due to RBI regulations. However, the ban was lifted by the Supreme Court in 2020, and Zebpay is now legal in India.
Has Zebpay ever been hacked?
Zebpay has robust security measures in place and has never been hacked.
Is Zebpay available in the U.S.?
No, Zebpay is not available in the U.S.
Zebpay Rating
Trading & Transaction Fees
Learning Programs
Website Transparency
Security
Overall
4
Pros
– Easy-to-use and navigate
– Reasonable fees
– High-security transactions
– Crypto learning modules in regional languages
– Extensive knowledge base on crypto
Cons
– No derivatives trading
– Monthly membership fee of 75 INR, but can be avoided by making at least one trade per month
– No referral or affiliate programs