ZebPay Review

ZebPay is one of India’s oldest crypto exchanges and has plenty of interesting features, which I will delve deeper into in this ZebPay review.

The crypto exchange focuses on convenience. It’s particularly notable for features such as CryptoPacks, allowing traders to access diversified assets using a curated portfolio while gaining in-depth insights into how each coin performs.

This makes the exchange particularly suitable for beginners, although some features are well-suited for the pros, too. That said, experienced users are more interested in advanced platforms such as Binance or Kraken.

Verdict at a Glance: The ZebPay exchange is suitable for those looking to trade conveniently and easily. Many of its features focus on making crypto trading less of a hassle, including curated portfolios with hand-picked tokens, coin-performance analysis, and customizable APIs for apps and bots. Additionally, there is an option to lend your crypto assets, enabling you to gain profit from interest. Nevertheless, you still have to be mindful of the platform’s drawbacks, with regional restrictions being the biggest one.

What is ZebPay?

So, what is ZebPay? After all, if you're not from India, chances are you might've not heard of this platform before.

Founded by Mahin Gupta, Sandeep Goenka and Saurabh Agrawal in 2014, ZebPay is a crypto exchange with over 6 million registered users worldwide. Although its primary turf is India, in 2018, ZebPay expanded and currently has a considerable user base spread globally, with Australia and Singapore being two of its main segments.

The exchange volume is also pretty decent. With an almost $3 million trading volume, the platform has established a solid presence in the crypto world, although its user base is relatively limited compared to global-leading exchanges like Binance and MEXC.

However, not everything is smooth sailing for ZebPay. After India’s 2018 RBI Bitcoin ban^[1], which prohibited banks from providing their services to cryptocurrency platforms, the ZebPay exchange of the Indian branch had to temporarily close its operations within its home base.

That said, it eventually relaunched in India in 2020 under Rahul Ragidipati's new leadership with several service improvements. Among those upgrades are a renewed focus on security and innovation, a lending program for asset holders looking to make passive income, and zero fees on select spot trading pairs.

As of writing this ZebPay review, the exchange has 300+ coins and tokens, including major ones like Bitcoin, Ethereum, and Solana, as well as 157 spot trading pairs. There is also a mobile app version of the platform for iOS and Android.

ZebPay Review: PROS

Let’s continue this ZebPay review by discussing the platform’s positive aspects, which attract many people to use its services. After all, there is a good reason why the ZebPay exchange has been going strong since 2014 despite the challenges.

Well-Balanced CryptoPacks

What better way to highlight the platform’s beginner-friendliness than by looking at one of ZebPay’s most noteworthy products, CryptoPacks? These packs are a collection of crypto assets handpicked by professionals. They allow users to diversify their portfolios with well-balanced options in a click, helping newbies get a solid headstart in their journey.

CryptoPacks gives traders a selection of token recommendations that are considered balanced in terms of risks and returns. This can help you spread your holdings across multiple, well-curated crypto assets for more effective diversification.

In addition, users receive reports that provide an in-depth analysis and overview of asset performance for a specific period, spanning one week to a month. The data is presented in a sleek interface that's easy to read and skim if you wish.

What's more, CryptoPacks’ data-driven analytics come with Risk and Reward ratings, which allow traders to gauge the profitability and loss potential of their assets at a glance. This is suitable for those who need a quick visual rundown on how an individual coin may perform, whether it’s high, moderate, or low in terms of risks and returns.

You can also refine your strategy by checking out the Profit and Loss tracker of the CryptoPacks. It will give you a total rundown of your current holdings and how much you have profited on average. This way, you will be able to identify areas for improvement and adjust your strategy accordingly.

In short, CryptoPacks make asset diversification all the more convenient for many people, especially for those who are just dipping their toes into crypto. However, it can also offer value to veterans who need a solid base to build their portfolio without starting from scratch.

Lending Feature

So far, in this ZebPay review, I have only discussed the platform's beginner-friendliness. But how viable is the crypto exchange as a means to earn passive income? While I'm not here to give you the exact answer, I want to highlight a feature if you're looking to potentially make more out of your holdings and diversify your source of earnings.

This is where the ZebPay Lending feature comes in. It's a tool that lets someone borrow your crypto holding. As a person who lent it, you can earn from the interest of your loaned assets.

It's worth mentioning that the platform facilitates all the necessary background work for a lending scheme. For instance, it will match lenders with borrowers or manage the loans and collateral. Many user ZebPay reviews mention the low barrier to lending your assets on the platform, on top of a decent fixed return rate of up to 8.5%.

The selection of cryptocurrencies you can lend out is also quite decent. Currently, ZebPay allows you to lend out the following tokens and coins, among others:

• BTC
• ETH
• POL
• USDT
• SOL

As for the yearly interest yield, it depends on the asset and how long you lend it for. This will be counted as a Simple Interest rate, which is calculated only using the principal and not with compounding interest.

Another thing to remember is there are four fixed deposit terms based on the period: a week, 30 days, 60 days, and 90 days. Once you select a term, you will not be able to withdraw your tokens until the deposit period is over. If you do try it, you will be charged a penalty fee.

The process of lending out your crypto on ZebPay is also fairly straightforward. You can lend out your selected token with just one click from the desktop and the mobile app.

A minimum balance must be met before you can lend out a token, though. So, make sure to check the total funds you have before completing the transaction. All details will be provided on the ZebPay exchange app.

Now, when can you expect to see an update on how much you receive? Earnings are calculated each day starting from 00.00 UTC from the deposit date. Interests will be credited to your wallet between 00.00 and 02.00 UTC at the loan term’s maturity.

ZebPay Build

One feature might appeal to you if you have the know-how to develop your trading tools and want to integrate them into ZebPay’s digital ecosystem seamlessly. Let me introduce you to ZebPay Build, where you can create crypto bots, apps, and more.

Zebpay Build is crafted on top of the platform’s RESTful API, which allows developers to integrate trading, wallets, blockchain, and market analysis functions into their applications. Using OAuth, smoothly connect your app to over 6 million Zebpay users. This will enable secure storage, sending, and receiving of more than 20 digital currencies, including Bitcoin Cash and Ripple.

Aside from that, the apps and bots developed on ZebPay Build can be used to:

• Buy and sell tokens;
• View orders;
• Cancel open orders;
• Fetch the latest asset balance data;
• Fetch market price data;
• Collect Zebpay's exchange volume within the last 24 hours.

Furthermore, creating an application on ZebPay Build is a straightforward process. Simply go to the tool's dashboard and click the [Create Application] button. After that, fill in all the required details and submit them for evaluation.

Next, the ZebPay team will review the app you create. Once approved, you will receive the client secret key and client ID required to integrate your app with ZebPay’s crypto exchange. These authorization tokens are necessary to perform API calls for specific functions like login and OTP or PIN verification.

You can check out the official documentation if you have any questions about how the ZebPay Build API works. The API commands for all the platform’s functions are listed there.

Solid Security Measures

Is ZebPay safe to use? After all, security is one of the most crucial deciding factors of a reputable exchange.

The nature of cryptocurrency as an emerging technology means that the challenges associated with it are also complex.^[2] That’s why any crypto exchange, including ZebPay, needs to step up its security game.

Fortunately, ZebPay implements solid security measures to protect its users. Since its launch in 2014, the platform hasn’t been hacked yet, at least as of this writing. In addition, 98% of the users’ funds are stored in multi-signature cold wallets to mitigate the risk of asset loss if the platform’s online infrastructure is compromised.

Not only that, the withdrawal processes of high-value transactions are done manually with multi-layered verification and are limited daily to prevent potential errors and security risks.

To further show its commitment to safety, the exchange has partnered with BitGo for its hot wallet infrastructure. Like the cold wallet, ZebPay's hot wallet is protected by multi-signature technology and a $250 million insurance policy.

Now, the platform also has a proprietary system called Omnitrixx. This multi-chain security framework protects all hot or cold storage transactions on the platform. In addition, ZebPay's online infrastructure is fortified by a robust firewall to protect against cyberattacks.

On the regulatory side, the ZebPay crypto exchange is a registered entity under India’s Financial Intelligence Unit and Prevention of Money Laundering Act. For extra safety, all users are encouraged to complete the 100-point KYC verification process, which is divided into levels 1, 2, and 3.

Finally, when it comes to compliance audits, ZebPay partners with Chainalysis, a US-based firm that provides analysis and blockchain data to financial institutions and government agencies across 40 countries.

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ZebPay Review: CONS

This ZebPay review would be incomplete without mentioning the platform’s drawback—the regional lock. After all, you won’t be able to use the service if your country is unsupported.

Regional Restrictions

ZebPay's regional restrictions significantly impact the features available to users, creating a disparity in functionality based on location.

The first notable difference between the website for international and Indian users is the lack of a perpetual futures trading feature. If you live outside of India, this limits your trading options on the exchange.

As there’s no perpetual trading feature, in some regions where the functionality is restricted, the platform may not cater to seasoned traders as well as beginners. You’re pretty much stuck with spot trading if you come from anywhere except India.

Not even the Singapore or Australian version of the platform offers this feature, and ZebPay’s user segments in those two countries are huge.

Another important thing to remember is that ZebPay USA is nonexistent. This isn't exactly good news because the US is one of the highest revenue contributors to the crypto market, which is projected to reach US$9.8 billion in the near future.

That said, you can still access the global website from the US, but you will get an error message if you open the exchange page. As of this writing, there is no dedicated ZebPay USA version of the website, either. So, you’re completely stuck unless you choose other exchanges that work in the US, like Kraken.

Understandably, some regional restrictions are inevitable, as some countries are strict regarding security and compliance. ZebPay also doesn’t support banned countries within the Financial Action Task Force’s blacklists, such as Iran and Myanmar.

Last but not least, the platform's knowledge base seems primarily dedicated to Indian users, which is understandable considering its origin. This is also evident if you look at many user ZebPay reviews. Indian reviewers dominate the conversations, with most of the information shared in Hindi.

Such a drawback is not a bad thing, in and of itself, but it can make the platform a tad bit inaccessible for many international users who want to join the ZebPay community.

Trading Fees

Now, what about the pricing?

After all, upkeeping the ZebPay crypto exchange isn’t free, and there are many costs associated with maintaining this type of platform, such as security and gas fees. Thankfully, its trading fees are quite reasonable, though not the lowest ones on the market.

ZebPay’s rates can be categorized into three types: maker, taker, and intraday:

• Maker Fees (between 0.06% to 0.15%): Charged when you place a limit order that adds liquidity to the market by sitting in the order book until matched.
• Taker Fees (between 0.1% to 0.25%): Applied when you place a market order that removes liquidity by matching an existing order on the order book.
• Intraday Fees (between 0.06% to 0.10%): A reduced fee for traders who complete both entry and exit orders within the same trading day, often praised for being among the lowest in the industry.

These trading fees can be lower if you reach one of the three VIP tiers.

Your level is determined based on your trading activity over a rolling 30-day period. No matter when your trades occur, the system continuously calculates your volume for the last 30 days in real-time.

Based on the tier you qualify for, you’ll receive corresponding fee rates and discounts, with higher tiers offering better benefits.

This dynamic system ensures your VIP status adjusts to reflect your ongoing trading activity.

That said, although ZebPay offers many attractive perks for its users, it's important to remember that it charges membership fees for accounts that have been inactive for a month. The platform's global users need not worry, though. This is because the account ban is exclusive to India. The inactivity fee is 0.0001 BTC + GST (18%) or equivalent in INR or another cryptocurrency.

How to Use ZebPay?

If my ZebPay review has convinced you to try the platform, you will need to know how to sign up, among other things. Fortunately, it is straightforward to use.

How to Sign Up on ZebPay?

You can sign up on ZebPay on the desktop version or the mobile app. However, it's worth noting that the latter has more functionalities.

Step 1: Tap the [Sign Up] option from the upper corner of the screen.

Step 2: Register a valid phone number and email address and fill in your details. Once you're done, click [Sign Up].

Step 3: Enter the OTP code sent to your email or phone number to verify your account.

Lastly, you can finish the setup by completing the KYC and setting up your bank details to start trading.

If you’re trading for the first time and not sure which asset to hold onto for the long term, I encourage you to do your research or consult a financial advisor. You may consider some of the most common crypto recommendations from a trusted community as your starting point.

How to Buy and Sell Crypto With ZebPay?

What is ZebPay Quick Trade? It is a feature that lets users buy and sell crypto assets instantly. Unlike the usual open-order book transactions, there is no waiting time.

Here’s how to use ZebPay Quick Trade for buy orders:

Step 1: Navigate to the Quick Trade tab.

Step 2: Choose the cryptocurrency you want to buy.

Step 3:  Specify the amount. Click [Quick Buy].

Step 4: Read the details of your trade summary and confirm that everything is correct. Enter your security PIN.

If you want to sell an asset with this feature, you can follow the steps below:

Step 1: Under the [Quick Trade] tab, select the crypto you want to sell.

Step 1: Input the amount of crypto you want to sell. Click [Quick Sell].

Step 2: Verify the transaction summary.

Step 3: Confirm the transaction by entering your security PIN.

Since the price of a token might change at any time, sometimes you will receive an error message during the process of selling or buying a token. If you experience this, don’t panic. Just repeat the order process so your transaction can be completed with the new price.

Pros

• Secure and reliable
• Low fees
• A good amount of fiat currencies accepted

Main Features

• Reputable exchange
• Multiple fiat currencies are accepted
• Relatively low trading fees

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions

ZebPay is a secure and user-friendly crypto platform, primarily popular among beginners due to its simple features and accessibility. With a curated portfolio of major cryptocurrencies and options for earning passive income through token lending, the exchange appeals to many investors, both new and seasoned.

The platform also offers customizable bots and strong security measures, including cold wallets and AML compliance. ZebPay’s focus on security and ease of use makes it a trustworthy choice for many, particularly those in India.

However, the exchange does have limitations, such as regional restrictions that limit access to certain features like perpetual futures trading. So, if you're not in India, you can only access spot trading. Moreover, the platform is not available in the US, which may lead users in the region to seek alternatives like Binance, Bybit, or Kraken.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Arora G.: 'RBI and the Indian Crypto Industry';

2. Moubarak J., Filiol E., Chamoun M.: 'On blockchain security and relevant attacks'.