Zebpay, one of the top exchanges from 2017 has become a nightmare for the crypto enthusiasts. Worst thing is many still do not know it, and have left their precious Satoshis in the exchange. A small portion is being deducted and the users may not be knowing about it.
I am going to pen down the reasons why Zebpay is not a top exchange anymore and why you should now look for alternatives.
Zebpay Membership Fee
Many members of Zebpay have reported in some crypto groups that Zebpay is eating a pie of their Satoshis every month under a subscription model named as Zebpay membership fee.
What exactly is a Zebpay membership fee? If you are a member of Zebpay and have your coins on the exchange, you may have noticed that 0.0001 BTC every month is being deducted from your account.
No other exchange in India or any country I am aware of who is into such practices. Some members have reported that they were not informed about the same.
At the time when the users signed up, the platform was free.
In 2018, when the RBI asked banks not to offer services to any cryptocurrency related exchange, Zebpay had shut down their operations in India.
However, as soon as the honorable Supreme court gave the verdict in favor of the exchanges, and asked banks to resume services, Zebpay announced their return.
Post that, they have been charging this fee.
So what a Zebpay user should do now? The answer is simple. Just look for better alternatives. There are many exchanges operating in India now, and buying Bitcoins in India is easier than ever. Let’s look at the best Zebpay alternatives.
Top Zebpay Alternatives: Best Crypto Exchanges in India
Listing down the top crypto exchanges that are operating in India.
Giottus: If you are looking for an Wazirx alternative, that offers instant KYC, go with Giottus. Sign up here
Binance: If you were trading alts on Zebpay, Binance would be your best option. Sign up here
We are going to write a detailed post on each exchange and how you can use it to buy and sell cryptocurrencies. Keep following us.