Bitcoin, Ethereum, Litecoin
Euro, Indian Rupee
Zebpay is a cryptocurrency exchange and wallet company which has its headquarters in Singapore. The company operates in India and has its offices located in Ahmedabad, Gujarat. The company was established in 2012 and was named Buysellbitco.in. After the addition of more investors and the growth of the business, the company rebranded to Zebpay.
The company is renowned in India as the first company to introduce mobile bitcoin wallet apps which led to the vast adoption of bitcoin trading in India. The use of the mobile app which was linked to the user’s mobile phone number eliminated the fear which most Indian residents had over losing their investments. This wallet enables users to store the bitcoins and also exchange them with other forms of currencies. The company increased the number of cryptocurrencies which users could trade with when they launched Zebpay 2.0 version of the mobile wallet app. This afforded the users more convenience and it also led to the increased adoption of Zebpay as the means of cryptocurrency exchange in India.
How to open an account with Zebpay?
For one to benefit from the services of Zebpay, he/she must first open an account with the company. The account opening process is easy. The website does not offer an online account opening interface. The users interested in opening an account with Zebpay can only do that by downloading the Zebpay cryptocurrency exchange mobile app. After downloading the app, users will be required to enter their phone number and password. A one-time code is then sent to the specified phone number for purposes of verification.
You will also be required to verify your email by following the instructions which will be sent to the provided email address. Zebpay takes their user security seriously and thus users are subjected to extra probes to prove their identity. These processes, from a superficial view, are rigorous but an in-depth review will reveal that they are critical in guaranteeing the safety of the user investments. From the date of submission of the application, the verification and approval period usually takes 3 days unless there are glaring inconsistencies which have been noted with your application.
Multi-coin trading: A multi-con trading exchange is a business where several cryptocurrencies are traded. The Zebpay 2.0 version of the mobile app allows users to exchange over 20 different types of cryptocurrencies. Zebpay charges exchange fees based on the base currency but their charges are reasonably low. Thus users can take advantage of this exchange avenue to buy and sell most of the cryptocurrencies in the market.
Order Matching Engine: Zebpay has an efficient order matching engine. The cryptocurrency exchange engine provided by Zebpay follows the maker and the taker principle. In trading, a maker is a trader who initiates the trading process. The trader does so by placing an order in the electronic order book. The maker can thus be a person willing to buy or sell cryptocurrencies and initiates the trading process.
In trading avenues, makers are the ones who determine the liquidity level of the market. If there are no willing buyers and sellers who are ready to initiate the trading process, then such a market is said to be inactive and has low liquidity. Zebpay keeps the order placed by the maker for a maximum period of 28 days. If the order is not claimed within this period, the Zebpay system automatically cancels it and the associated amount of cryptocurrency reverted to the maker.
A taker is a trader who checks the market prices and places an order which is already available in the order book. Since the order is available in the order book, the taker order does not take time to be completed. It immediately gets matched to the respective maker orders thus initiating the order completion process.
Takers reduce the level of liquidity in the market. To maintain a constant level of liquidity each taker process must be replaced by a corresponding maker order. The maker-order ratios thus determine the liquidity of the trading market. All these processes are automatically monitored and managed by the Zebpay order matching engine.
Security standards: Zebpay has very stringent security standards. The sign-up process has detailed user verification process which requires users to verify both their email and phone numbers. After this, a PAN (Permanent Account Number) card, a canceled check or a bank statement, and Aadhaar (Set of numbers used by the Indian government to identify its citizens) card are also uploaded. All these documents are needed to prove the identity of the applicant and to reduce any form of fraud.
The Zebpay app uses the end-to-end encryption standards to ensure that all the information exchanged between the users and the Zebpay system cannot be intercepted by third parties. The cryptocurrency wallets are further secured using multi-signature (Often shortened as multisig) wallets technology to effectively secure the user investments.
Smartphone App: Zebpay does not provide browser-based accounts for its customers. Instead, the company provides easy-to-use mobile apps which are available in both the Apple AppStore and Google PlayStore. The app enables users to carry out cryptocurrency trading, send and receive crypto coins, and offer live charts where users can check the current exchange prices for different cryptocurrencies. Users can as well set the app to send alerts whenever the price of a selected cryptocurrency reaches a specified price.
Zebpay offers a diversified cryptocurrency exchange platform for the Indian-based traders. Though the company is yet to spread its wings and cover a wider international market, its presence in India has significantly increased the access of cryptocurrency exchange services to ordinary residents. Basing on the level of success which this company has enjoyed in the Indian market, it is clear that the company has much to offer to its customers. Thus it should be a must-try company for those who wish to get into cryptocurrency exchange business.