ZebPay Review 2024: Account Setup, Trading Options, Fees & More!

Overview

Introduction

If you are looking for an exchange that is secured and has never been hacked in the past, then you might want to know more about Zebpay. Zebay is one of the fastest-growing cryptocurrency exchanges in the world that was founded in 2014 by Sandeep Goenka, Saurabh Agarwal, and Mahin Gupta. In 2020, Rahul Pagidipati acquired the company and subsequently became the CEO. However, in June 2021, he stepped down from this position and made Avinash Shekhar the CEO. As Avinash is venturing on his entrepreneurial journey of Web3 Space, Rahul Pagidipati returned as CEO of the company. 

It currently has 5.5 million traders and a trading volume of $2 million from over 160 countries. It has an exclusive platform called Crypto Ki Pathshala, whose main motto is to educate Indians on Cryptocurrency in the regional language – Hindi. Though it has only 150+ cryptocurrencies, it is still one of the leading exchanges in India.

Account Setup and Verification

Here are the steps to create an account on Zebpay and complete the KYC verification:

Step 1: Click on the “Sign Up” button.

Step 2: Fill in the necessary details like your name, email ID, and phone number.

Step 3: Set a 4-pin password.

Step 4: Click “Continue”.

Step 5: Enter the OTP sent to your mobile number and email ID.

Step 6: Enter the 4-pin password again.

Step 7: Congratulations! Your account is now open.

KYC Verification:

Step 1: For KYC verification, you need to register from the Zebpay Mobile App.

Step 2: Click on “Verify KYC” on the Mobile App.

Step 3: Upload your ID document and complete the declarations.

Step 4: Upload your Pan Card as ID proof.

Step 5: For address proof, upload any supporting documents like a pan card, Aadhar card, Driving License, Passport, or Utility bill within the last three months. Click “Continue”.

Step 6: Select your source of funds and occupation.

Step 7: Your KYC verification will be completed soon, and you will receive a notification once it’s done.

Step 8: You can now update your bank account details to enable fiat deposits and withdrawals.

User Interface and Experience

ZebPay makes trading easy for everyone, whether you’re a beginner or an experienced trader. The user-interface is simple that’s easy to understand, but it also offers advanced features for those expert traders.

Hence, ZebPay is a great choice for anyone who wants to trade cryptocurrencies, irrespective of their skill level.

On ZebPay, trading is like a journey. It begins with simple transactions for beginners and gradually moves to more advanced strategies for experts. This exchange is built to help users learn and improve, to make them better traders over time.

ZebPay also provides tools and resources to help users make correct and smart decisions. Therefore, this creates an environment where trading is not only enjoyable but is also rewarding as you become more skilled.

Assets and Trading Options

There are 150+ cryptocurrencies available on Zebpay. Some of the popular cryptocurrencies available are

• Bitcoin
• Ethereum
• Tether
• BNB
• USD Coin
• USDC
• Binance USD
• XRP
• Dogecoin
• Cardano
• Polygon

Fees and Costs

ZebPay ensures their fee system is clear, showing you the costs for trading, depositing, and withdrawal.

Sometimes, ZebPay might have a system where the fees change based on how much you trade. The fees can also differ depending on the kind of transaction you’re doing and how you’re paying.

There are no charges for depositing cryptocurrencies. However, for fiat deposits, a flat fee of 12 Rs is charged and for fiat withdrawals, a flat fee of 15 Rs is charged. 

Zebpay uses a maker/ taker model in a tier system with a 30-day trading volume for calculating trading fees. For a beginner, the maker fee is 0.15% and the taker fee is 0.25%. As your trading volume increases, your trading fee is also reduced. For a VIP 3 customer, the maker fee is 0.06% and the taker fee is 0.10%. 

When you’re withdrawing different cryptocurrencies from ZebPay, their fees might differ. For example, if you’re withdrawing Bitcoin, they charge 0.00075 BTC. As compared to other exchanges, this fee might be a little higher, about 57.41% above the average.

Security and Safety

Zebpay ensures security through the following measures:

1. Cold Wallets:

Approximately 98% of the cryptocurrencies stored with ZebPay are maintained via cold wallets. These wallets are signed with the help of Hardware Security Modules (HSM) on air-gapped machines located in different cities and countries.

2. Strong Internal Controls:

ZebPay’s infrastructure is protected behind robust firewalls, preventing any external parties from accessing it. Moreover, no service provider, such as an Internet Service Provider (ISP), can interfere with ZebPay’s product development process. ZebPay employees undergo comprehensive background verification and are granted segmented network access based on their roles.

3. Protect Transactions with Omnitrixx:

ZebPay’s proprietary security protocol and platform, Omnitrixx, facilitate a world-class multi-chain security system that safeguards all transactions between cold and hot storage wallets.

4. Constant Third-party Testing:

ZebPay’s products and platform undergo continuous evaluation by security experts, both internal and external to ZebPay.

5. Built-in Redundancies:

Coins stored with ZebPay cannot be breached or accessed from a single geographic location or by a single person. Besides cold storage, all hot wallet transactions on ZebPay are signed using systems across different cloud platforms. At every step of its security practice, ZebPay avoids any single point of failure.

6. Get Rewarded for Finding Flaws:

ZebPay encourages and rewards security researchers to test its security through a bug bounty program. This program invites the community to identify any issues that could jeopardize ZebPay’s customers.

Customer Support and Resources

If you have any doubts, you can chat with Ziva (Zeb Interactive Virtual Assistant) which is a chatbot. Ziva provides a list of topics related to crypto depositing, withdrawals, trading, and much more. 

Zebpay Exchange also has a dedicated support section related to customer queries and FAQs. It is actually a knowledge base on everything related to starting an account on Zebpay, crypto deposits/ withdrawals, KYC verification, troubleshooting, etc. 

If you still have an emergency or urgent issue you can raise an email ticket which will be replied to in 24 hours. 

Regulatory Compliance and Legitimacy

ZebPay is a dedicated crypto exchange platform which aims to aid the worldwide effort against money laundering and funding terrorism. To achieve this goal, the company has taken great care to ensure that all its internal anti-money laundering procedures align with the AML Act and AML Regulations, as required.

ZebPay follows all the necessary cryptocurrency rules in India like: Making sure everyone on the platform is verified with KYC. They also have an Anti-Money Laundering (AML) policy in place to keep in check its regulations.

Community Sentiment and Reputation

Pros and Cons Summary

Advantages

• Easy to use and navigate
• Reasonable fees
• High secured transactions
• Crypto learning modules in regional language
• Vast knowledge base on crypto

Disadvantages

• No derivatives trading
• Limited educational materials are available for beginners
• If you’re withdrawing Bitcoin, they charge 0.00075 BTC which is about 57.41% above the average
• Doesn’t have margin trading

Conclusion and Recommendation

Zebpay Exchange is an easy, secure crypto exchange that allows users to buy, sell and store cryptocurrencies. It has reasonable trading fees and robust security features. Moreover, 95% of its users are from India. 

The exchange is on a mission to educate more Indians on cryptocurrencies in their regional languages. The Quick Trade feature is good for any investor who is interested to hold cryptocurrencies. The trading fee is reasonable and supported fiat currencies are limited to INR, AUD & EUR. 

Zebpay Exchange is best for both beginner and advanced traders with its easy-to-use and navigates platform. The only disappointing fact is that it has no referral program and the earning programs are limited. Users need to pay a monthly membership fee of 75Rs and this can be easily avoided if they make at least one trade every month. 

Zebpay Exchange has never been hacked and has a quick-responding customer support team who answers your queries in less than 12 hours. So if you are an Indian resident we highly recommend Zebpay.

FAQs