ebpay 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.
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.”
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
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.
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.
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.
Zebpay Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about Zebpay Review.