Zebpay is the leading and largest cryptocurrency exchange in India with over 3 million users. Users can trade various cryptocurrencies by first buying with local cryptocurrency through a registered bank account.
India’s largest crypto exchange Zebpay has reduced to a half the fees for intraday transactions. Those buying and selling Bitcoins through the exchange will pay a fee of only 0.1%, which is around Rs. 10 fees for an Rs. 10,000 trade if the buy and sell are made on the same day.
It means a user will qualify for a 0.1 percent fee for the number of Bitcoins bought and sold on the same day. Same day means from midnight-of-a-day to midnight-of-the-following-day. The system will charge the usual low fees but will refund the extra fee based on the new calculation, the following day.
The company, which is a member of the Blockchain and Cryptocurrency Committee of the Internet and Mobile Association of India (IAMAI) said,
“This is our way to reward you, our loyal traders. Zebpay is an efficient cryptocurrency exchange, and we are happy to pass on the benefits of this efficiency to you in the form of lowered fees.”
More than 3 million users
It also features an iOS and Android app. Users add Rs. funds from a registered bank to their account and then buy cryptocurrencies for trading. The exchange also uses KYC standards as internal standards for accepting the customer. They also conduct AML- PMLA. It says this will prevent the use of the app for criminal intentions and money laundering activities. It also allows Zebpay to know customers and dealings to help manage risks.