Zebpay Reduces Intraday Fees Drastically

If Zebpay users buy and sell cryptocurrency on the same day, the fee will be only 0.1% for the transactions
05 April 2018   556

One of the largest crypto-currency exchanges in India, Zebpay, has announced a drastic reduction in fees for intraday transactions. From April 2, if users buy and sell cryptocurrency on the same day, the fee will be only 0.1% for the transactions.

For example, if you buy 2 bitcoin (BTC), and sell 1.5 BTC on the same day, you will be eligible for the 0.1% fee on the buying and selling of 1.5 BTC. For the remaining 0.5 BTC, the usual low Zebpay fee will apply.
 

Zebpay Announcement

Zebpay stated in the announcement that Bitcoin and other cryptocurrencies display a lot of price volatility, and day traders who try to gain from this volatility can now benefit from Zebpay’s low intraday fee of 0.1%.

Zebpay fee announcementZebpay announcement regarding fees

It it worth noting that for the purpose of intraday rebates, “same day” is the period from midnight-of-a-day to midnight-of-the-following-day. At the time of making the transactions, the users will be charged the usual low Zebpay fee. On the following day, after checking thier intraday trades, Zebpay will automatically refundthe users the extra fee that was charged earlier.

Previously, we have reported that Zebpay cryptocurrency exchange announced the beginning of support for Litecoin.

Zebpay to Cease Operation

Reason for this decision is  reported to be the restrictive policy of the central bank in respect of cryptocurrencies
28 September 2018   357

Indian trading platform Zebpay announced the closure of the exchange service. The reason is the restrictive policy of the central bank in respect of cryptocurrencies.

The exchange of cryptocurrency on the platform will be stopped on September 28 at 16:00 local time. All unsettled orders will be canceled, and funds will be credited to customers on Zebpay wallets.

The curb on bank accounts has crippled our, and our customer’s, ability to transact business meaningfully. At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business. As a result, we are stopping our exchange activities.
 

Zebpay Team

Despite the halt of operations on the exchange , Zebpay's wallet functions will be retained.

Zebpay started operation in 2015. The platform app quickly became one of the most popular in India. The total number of downloads Zebpay for iOS and Android-devices reached a mark of 3 million. The application allowed to work with 22 trading pairs on the basis of 20 cryptocurrencies.

In July, the Indian exchange Zebpay suspended the withdrawal of the currency against the backdrop of restrictive measures by the authorities and, in particular, the ban on the provision of banking services to cryptocurrency companies.