Zebpay is one of the oldest cryptocurrency exchange in India which has started its operation way back in 2014. Being the oldest exchange and one of the first exchange in India, they had a huge customer base and high volume trading in the platform.
However, the banking ban imposed by RBI has also affected the operation of ZebPay exchange as they didn’t switch to the P2P system to continue the operation.
As a result of that, ZebPay announced the shutdown of their operation in India and moved to other countries and started operation there.
As the judgement on the Crypto Vs RBI case was about to come out, Zebpay has announced it’s return to India under a new management team.
The ZebPay has relaunched in India again in March 2020 with zero-fee trading structure.
The users of ZebPay will be able to trade on their platform without paying a trade fee regardless of a market maker or a taker.
Instead of trade fee, they are charging a small monthly fee for wallet maintenance or keeping the crypto assets. However, in the case of a regular trader, it’s really great offer as the trading fee will be very higher than this amount.
ZebPay Update April 2010
ZebPay has taken off the PayU payment gateway and repaced it with MobiKwik payment wallet.
The fee for deposit of INR remains zero for all the INR deposit methods currently available in ZebPay. As of updating the article, the INR deposit methods available are GoCashFree, MobiKwik and Direct bank deposit.
The second update from the ZebPay is that they have withdrawn the launch offer of Free trading. Starting from April, ZebPay will be charging a fee for the trading of INR pairs. While the Crypto-to-crypto trading fee remains zero.
The updated trade fee structure is given below
Maker Fee – 0.15%
Taker Fee – 0.25%
The fee mentioned is exclusive of tax amount. The tax amount will be levied extra on trading.
Also, there is a reduced fee for Intraday trading. The fee charged for intraday trading will be 0.1%.
Upon executing the order, the trade fee will be charged based on the Market taker or maker. However, If you are doing the intraday trading, the extra fee charged will be reversed to the account on midnight as the trading fee for intraday trades are less than that of normal trade fee
ZebPay Exchange Features
Zebpay is having both the web interface and mobile application available for trading. While comparing to the web interface, the mobile app looks better for trading.
If you are an old user of ZebPay, You don’t need to sign up again to Zebpay or need to submit your KYC again to get verified. You can use the mobile number that you used in the past to sign in again to ZebPay wallet.
Trading Pairs available on ZebPay
Currently, there are only a couple of trading pairs enabled against INR on ZebPay. However, they are regularly updating and enabling new trading pairs for trading.
At the time writing this article, ZebPay has enabled 6 trading pairs for trading. The enabled pairs are listed below
ZebPay INR Deposit and Withdrawal
INR deposit to ZebPay is very easier and quicker. They have integrated two payment gateways for the instantaneous deposit of INR using internet banking. Although not all the bank accounts are available for deposit via internet banking, they have two payment gateways Payu and GoCashFree to fund the INR Wallet.
By using GoCashFree and Payu payment gateway, The user can deposit a maximum of 5 lakh per transaction.
The deposit via net banking takes up to 15 minutes to reflect on your ZebPay wallet. From our testing, we could see that it takes 10 minutes on an average to get the INR deposited into our ZebPay wallet.
Apart from the payment gateway, the users can utilize the direct deposit feature of ZebPay for INR deposits. One can deposit the money to the provided account number with any available means of transfer such as NEFT, RTGS. The same will be processed by ZebPay team manually and will be credited your bank account. However, this type of transaction takes longer than the net banking option which will be credited within 15 minutes!
There is no instantaneous withdrawal available at ZebPay as like Wazirx or Giottus. As per the ZebPay terms, the withdrawals will be processed within five working days. However, from our testing, we found that the withdrawals are being processed by the team on the same day or the next working day.
ZebPay Exchange Trading Offers
After the relaunch of crypto, ZebPay has announced a lot of offers for traders.
The exchange is running without charging any fee for trading is the most beneficial offer for traders.
Click to Tweet
The other offer currently running is that there is no fee charged for the deposit of INR to user wallet. Recently BitBns has integrated MobiKwik to deposit INR via debit card, credit card and net banking, However, they are charging 1.77% for fiat deposit. Unlike BitBns, the deposit via the payment gateway to ZebPay is free of cost until further notice.
The other offer currently running will be availed upon you place your first trade on the exchange. As a result of your first trade on ZebPay, they will credit your wallet with 0.0001 BTC for free as a welcome bonus.
The second benefit you receive after making your first trade is the refund of the membership fee charged for the month of March.
Apart from refunding the March month membership fee, by doing first trade, the fee for the month of April also will be waived.
ZebPay Started Trading Competition
The cryptocurrency exchange ZebPay has announced its first-ever trading competition named “Trading Challenge” after the relaunch of exchange in India.
As per the ZebPay announcement, The Trading challenge will be available for the users of India who are fully KYC verified.
Click to Tweet
The winners are awaiting exciting rewards up to 1 Lakh rupees from ZebPay. The first five winners will be rewarded with prize money as below
The winners will be decided based on the highest volume trader among the INR pairs. The highest volume trader will be rewarded with one lakh INR and the second-highest volume will be receiving 70000 INR on the wallet. The third highest volume trader on the trading challenge will be rewarded with 50000INR. The fourth highest volume trader will be getting 25000 INR and the Fifth highest volume trader will receive Rs 10000 credit.
Trade more and Receive Rebate on Maker Fee
Apart from the highest volume trader, the others who participate will also have an option to receive free credit for the trading. ZebPay is offering a rebate of 0.05% for makers in the market.
To be eligible for this rebate, the participant should have a volume of at least 10000000 INR. The rebate will be calculated only based on the Maker volume. However, the eligibility volume will be calculated based on both maker and taker volume.
For example, If you participate in the trading challenge and trade for a total volume of 10000000 you will be eligible for receiving the market maker rebate.
However, the market maker rebate will be calculated only based on the market maker volume. Out of One crore volume, If you have maker volume of 7000000 and taker volume of 3000000. The rebate will be given for 7000000. The total rebate you will be receiving will be 0.05% of 7000000. That is, you will be receiving 3500 INR as a rebate for your trade.
The competition will be running from 25th March till 31st March. The winners will be announced on 31st March and the distribution of the winning prize will be done within 7 working days to the ZebPay wallet.
Don’t you have an account with ZebPay? Create an account with ZebPay and start cryptocurrency trading today!
Join the community of subscribers & get exclusive Crypto tips & tricks
