de | cn | ru

Zebpay Review - is it scam or safe?

Zebpay Review - is zebpay.com scam or good cryptocurrency exchange?

RATING: 2 / 0 REVIEWS Zebpay
Zebpay is not regulated. We cannot guarantee your money is safe.

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts and Conditions

 

Account type

Min. Deposit

Maker fee

Taker fee

Bank transfer fee

Standard

1000 INR

 0.59%

1.18%

10 INR

 

 

Zebpay is one of India’s most popular mobile-based cryptocurrency exchanges, offering trading in some of the most popular coins against the local currency (INR). Its Android and iPhone apps make it very easy for locals to buy Bitcoin and altcoins via their mobiles. Importantly, though, Zebpay does not provide crypto-to-crypto trading option.

 

 

Zebpay Advantages

  

INR accepted, bank transfer supported

As we already said, Zebpay works with one fiat currency, INR. Therefore, this exchange is quite attractive for Indian crypto-investors, especially novice ones, as they can directly deposit and withdraw Indian Rupees to and from a bank account linked to their Zebpay account.

 

In addition, Zebpay offersits clients a Payment Gateway option. It allows them to make payments from within Zebpay app itself, which are processed instantly, but have higher banking charges.

 

A few altcoins offered

By the time of writing this, Zebpay has listed some of the most popular cryptocurrencies: Bitcoin, Etherum, Bitcoin Cash, Ripple, and Litecoin. This is not an extensive crypto product portfolio, yet it is good enough for an entry-level coin trading service such as the one provided by Zebpay.

 

Nice trading apps, a mobile wallet available

Unlike most exchanges who provide their services via web-based platforms, ZebPay offers its clients a mobile trading app with a built-in mobile wallet. The app is available on Android and iPhone and is very simple and easy to use.

 

 

Clear presentation of fees

Another thing we like about Zebpay is its transparent pricing policy: the exchange presents its fees in a very clear and precise way, which is not the case with all crypto exchanges. It has even posted the following warning on its website: “Prices in India vary from international prices due to local demand and supply.”

 

 

Zebpay Disadvantages

 

No coin-to-coin trading

Zebpay offers trading in Bitcoin and 4 altcoins, but coin-to coin trading is not enabled on the exchange. You can only exchange those coins for Indian Rupees.

 

High trading fees

The cost of trading at Zebpay is pretty high: market makers are charged with 0.59% per trade, and market takers – with 1.18%. These fees are considerably higher than hat most exchanges charge (0.20% - 0.25%). By comparison, Koinex, another Indian exchange, charges market makers with a maximum of 0.20%, and market takers – with up to 0.25%.

 

Min. deposit, trade size set

Zebpay requires certain requirements for minimum deposit (1 000 INR) and trade size (2 500 INR), which may be convenient for smaller players.

 

Available only to residents of India

This exchange works only with Indian rupees, Indian banks and explicitly states in the terms of use uploaded on its website that it accepts as clients only natural or legal persons, resident in India”.

 

Mobile-only platform

Zebpay is an app-only cryptocurrency exchange, so if you prefer trading on your PC, this is not your cup of tea.

 

No leverage available

As mentioned above, this is a company primarily oriented towards beginners in the crypto-verse, so no wonder it does not offer margin trading. We would not recommend that option to inexperienced traders. Yet, those willing to take the risk may check out the offerings of major crypto exchanges, such as OKEx or Bitfinex. Forex brokers who offer trading in cryptocurrencies are yet another option.

 

>>Brokers offering margin Bitcoin trading<<

 

ID verification required

As is the case with most exchanges that work with real money, ID verification is required. This is not a major disadvantage, yet it defies the initial purpose of Bitcoin.

 

 

Conclusion

 

Established in 2015 and headquartered in Mumbai, Zebpay is one the most popular options among beginner crypto investors in India. It is an app-only platform that allows users to exchange Bitcoin and several other altcoins of Indian rupees.

 

While Zebpay presents clearly the fees it charges, we find them significantly higher than those of most exchanges. Besides, it does not offer crypto-to-crypto pairs, nor margin trading. Yet another weak side of Zebpay is that it accepts only Indian residents as clients.

 

Zebpay is oprated by Zeb IT Service Pvt Ltd., and is one of the members of the Blockchain and Cryptocurrency Committee of the Internet & Mobile Association of India (IAMAI). Nonetheless, it is not licensed, nor overseen by a governmental agency, as Indian legislative framework has not covered digital currencies or Bitcoin exchanges yet.

 

For those of you who prefer trading with a tightly regulated company, there is yet another option – to trade Bitcoin and other coins with forex brokers, some of which are duly licensed.

 

>> A list of licensed bitcoin forex brokers <<

 

 

Pros

Cons

Fiat currency and bank wire supported (INR)

No coin-to-coin trading

Decent range of altcoins offered

High trading fees

Relatively nice mobile trading app

Min. deposit and trade amount set

Clear presentation of fees

No margin trading

 

Available only to residents of India

 

No anonymous trading

 

Latest news about Zebpay
No news about Zebpay . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for Zebpay

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru