Zebpay – India’s Most Popular Bitcoin Exchange
Founded in 2015, headquartered in Singapore with offices in various parts of India, Zebpay is a Bitcoin exchange and Bitcoin mobile app provider.
It is India's first Bitcoin company to launch a mobile app enabling bitcoin transactions using mobile number. Users can buy, sell, store, spend their Bitcoin using your mobile number and a 4-digit pin. In 2014, Zebpay was voted as best new bitcoin Company at Coinagenda in Las Vegas. In September 2017, Zebpay app crossed a million downloads.
“I believe, Bitcoin is an invention greater than the Internet itself. Just as the web changed the world of publishing, Bitcoins will change the world of finance. And our mobile wallet application, Zebpay is an attempt to increase the Bitcoin market in India,” says Sandeep Goenka, co-founder of Zebpay.
Signing Up And AML Policy
Zebpay is incorporated under the laws of India and thereby is required to comply with India's KYC and AML policies. Zebpay strongly condemns any and all activities related to money laundering and such other illegal actions. In order to prevent misuse of the Zebpay Services, Users are required to strictly comply with the terms.
The Signing Up Process Is As Follows
- After downloading the Zebpay app, verify phone number, set up account pin and verify e-mail address
- Upload PAN card, enter required details pertaining to PAN
- Upload bank documents
- Scan Aadhaar card and submit required Aadhaar details
After submission of all KYC documents, the account will be verified within 3 working days, after which the account status is changed from ‘pending' to ‘approved'.
Buying Bitcoin on Zebpay is a straightforward 4-step process using RTGS/NEFT or IMPS
- Using the deposit option, select payment method
- Enter the amount to deposit
- Verify bank details
- Place deposit order
The deposit is usually processed within two hours, after which it is available in the user's Rs account for purchasing Bitcoin.
Sending or receiving Bitcoin entails no fee barring the network fee. For withdrawals, Zebpay charges a flat Rs 10 fee.
According to various users of Zebpay in India, Zebpay offers the best user experience with, comparatively, the fastest sign-up, buying and selling process. The exchange also provides the option of mobile top-ups using Bitcoin.
Zebpay is not without its critics, however. The difference between buy and sell price is sizeable, roughly 10%. There have also been complaints registered on trustpilot citing frequent delays in deposit and withdrawal. Users are also unable to lock a down a price for instant buy/sell or execute auto-buy orders based on a cut-off price.
Price of Bitcoin in India vary significantly from other international prices, based solely local demand and supply. Conversion based on Bitcoin trading price expressed in a different fiat currency outside India should not be used to determine trading price in INR.
Future Zebpay Features
Zebpay is working on launching an Open order book where buyers and sellers match trades with each other for exchange. This increases the transparency of our order book and users will be able to be match orders after looking at the order book. Traders can develop more functionality such as calculating spreads and hence execute better trades.
The exchange is also working on adding 4 other cryptocurrencies – Bitcoin Cash, Ethereum, Ripple and Litecoin. All these coins will have an open order book from the day of launch allowing users to hedge between different cryptocurrencies and creating a crypto-portfolio.