Zebpay is India's first bitcoin company to launch simplest mobile Bitcoin wallet app that enables bitcoin transactions using mobile number without any complexities to understand bitcoin addresses, taking backups or fear of losing bitcoins
It was launched in 2012 (under a different name) in India, amidst controversies around crypto-exchanges and people dealing in cryptocurrencies. Recently, a statement by Finance Minister of India put the entire cryptocurrency market in a turmoil, with the prices of Bitcoin plunging below $10,000. With that high population affecting the prices of Bitcoin and other cryptocurrencies that seriously, Indian users and investors do possess a great hold at the volume and rotation of money.
Zebpay was initially named 'buysellbitco.in', and Mahin Gupta was its first founder. And it was later changed into Zebpay in 2014, also adding two more partners - Saurabh Aggarwal and Sandeep Goenka. Zebpay became one of the very first exchanges, providing access to people of India to buy or sell Bitcoins.
Initially it started only with Bitcoins, while now it has Ripple, Bitcoin Cash, Ethereum and Litecoin. They are yet to list many cryptocurrencies like Monero, Dash, ZCash etc. as of now, but they do have plans on expanding their crytpo-portfolio. Zebpay has no web-based platform (like a website or an online portal) available for users.
They only have Android and iOS application. Zebpay is also famous for being a wallet. Since its launch, it hasn't been hacked which makes it one of the most secure platforms to buy or sell cryptocurrencies in India.
If we talk about security, Zebpay has been under scanner and government radar since a long time. Very recently Indian government;s Income Tax Department also conducted a raid on their office, which scared the users that the exchange might have to shut their operations, but thankfully nothing happened, and Zebpay resumed its operations like before.
The app's security is tight, as they also allow users to enable 2FA (two factor authentication). They provide a private key to all their users, and the sign-up is easy and quick. In case the user loses his private key or pin-code to access Zebpay, he can recover it quickly. Zebpay users have their unique ID that is synced with their mobile devices, but if you lose your device you can still access your cryptocurrencies and prevent them from being lost forever.
They have listed a hot-line number, if the users call on that number they can immediately block all the outgoing transactions on their account and freeze the crypto-assets.
There are many upsides and advantages of using this Indian cryptocurrency exchange. Some major ones are -
There are many downsides of this India-based Bitcoin exchange. Zebpay Review would be incomplete without discussing its shortcomings -
After verifying your account with Zebpay.com which may take from a few minutes to a couple of days, you are now able to buy BTC from them. To purchase BTC, a deposit of INR must need to be done. Below are ways to get INR into your Zebpay wallet.
Deposits can be done using Netbanking, Credit/Debit Cards, and online SBI Internet Banking. It may take a few minutes before the balance will reflect under your Zebpay account. To check your account just head on to your wallet balance and click transaction fees. Once your balance is showing, you can now purchase BTC with one button. Please be advised that transaction fees are applied when buying and selling BTC through their App.
Verified users can also transfer funds from one account to the other without any fees, making it easier to have a network of users connected to one another. This would be an easy option for family and friends to send money privately and almost in an instant the balance will reflect on the email provided.
If a user plans to send BTC to a different address the transaction fee is 0.0002 BTC. If a user plans to sell their BTC, just click on sell and the available balance under INR will be automatically updated for their current price of BTC sold.
Verified users are also able to withdraw money from their Zebpay.com account and into their bank accounts. Make sure that your bank account is linked to your Zebpay account before requesting any bank withdrawals to avoid any problems. The fee for bank withdrawal is INR 10 per transaction.
The website earns money from their BTC listing. This means that as a trader, you do not need to worry about leverage, margin fees, and whatnot since all you need to do is deposit INR, press purchase BTC and you’re all good. Or, you can also sell your own BTC for their listed price.
Zebpay is a good portal to buy crypto-assets in India. Despite their down-sides and shortcomings, they are the only ones available with an excellent user experience for users. Many users are still loyal customers of Zebpay solely because of the ease of use and user-friendly interface they get. If they reduce fees and improve on their customer service experience, they will surely become unbeatable at least in India!
To create an account with Zebpay.com, the user needs to have a local phone number from India to create an account. Since the service exists as an Application for smartphones, the user needs to download the Apps from different channels. Users can download the Android version here, and the iOS version here respectively.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|