Bitcoin Forum

ZEBPAY is the worst exchange there could ever be! I was in an urgent need of money and I deposited some coins at zebpay, it took them 3 LONG DAYS TO PROCESS MY FIAT WITHDRAWAL.
Even the rates are shit(because of those fees).LBC has much better rates.
They even charge a whopping 0.0005 BTC TX fees on withdrawals + fees on trading too.RIPPERS!
STAY AWAY FROM SUCH A SHIT EXCHANGE.SHIT ZEBPAY.And after the coinsecure scam, if you are still keeping your coins in zebpay then WITHDRAW NOW!

Go for P2P trading.Dump these shit exchanges.

It is always recommended not to keep your coins in any exchange as you are not in control of the coin address. Zebpay and other indian exchanges are almost dump one no one is good, it is much better to trade in localbitcoins as you are in direct contact with the buyer or seller and localbitcoins escrow system is very good.

This is the reason why I like Koinex but have heard that they are charging for kyc. All Indian exchange are bad.

Woaah, thats news to me.My friend has a verified koinex account, I will try selling some IOS tokens there.And will try to post a review.


Yea, the only drawback being scammers.But only if you are a trader with adverts.If you are looking just to sell/buy, then look fir a trusted trader and you won't have anything to worry about :D

Koinex charges 100 or something, and that too they refund it after verifying the bank account customer links with his account. I never liked zebpay from the very beginning, when they started there was a trollbox kind of thing giving real time feed on transactions happening which included information which identify the person, I am talking about real pictures/name etc.. I felt it was kind of dumb and really defeats the purpose of the whole idea behind crypto currency.

I personally use coinome and I am very happy with the rate + withdrawal and support etc.. Sometimes instant withdrawal gets stuck on 'pending', but usually gets cleared within 3 or 4 days max. I use this exchange as much as i can because of their instant withdrawal feature.

I doubt any one would be registering nowdays on Indian exchange as all of this may not be operating now from some months as government intervention could some in picture and they would pass the law and ban it completely rather than accepting it.

Thanks for sharing your experience because it will helpful for like me newbiee

It's because of Saturday and Sunday. If you tried to withdraw money on Saturday, they proceed on Monday. Because they are not operating service on Saturday and Sunday. For me, It took always 3-4hour to withdraw money from zebpay except for Saturday and Sunday.

I don't face the problem like this.I sold BTC in zebpay 4 days before ,they sent my money in 2 to 3 hours in my account.
There  may be any problem with your accounts or something else.

Maybe because he withdraw the money on Sundays i think and this makes take nearly 3 days to get fiat payment to our local banks. So it is always good to withdraw on weekdays in order to get fiat payment with 3 to 4 hours time.

Surprised to see this comment. Zebpay withdrawals have been super smooth and fast for me - max. 1 business day and sometimes within 4-5 hours of placing the request.

Can you please explain how does this escrow system works? If govt stops the banking services to exchanges then only peer to peer will work but how does the payment and receiving work there?

Simple. A third party(trustable party) holds your coins until the fiat payment is made. Once the payment recipient receives it and gives the green. The coins are released to the buyer.

Read localbitcoins FAQ. They have all info on an escrow.

You can find trusted escrow in this forum from these threads:

https://bitcointalk.org/index.php?topic=855778.0

https://bitcointalk.org/index.php?topic=2439910.0

Always do your own research and make sure you contact the original account of members offering escrow service listed in these thread, there are many imposters who will make similar username, just to trick new people.
For example: My username is Guvn0r, it is easy to someone to contact you with a similar username such as Guvnor or Gunv0r etc..

Well the correct step now would be to not trust any Indian exchange as Govt and RBI are not clear on what so they want to do with crypto. So at this time, do not send money to indian exchanges and if you have any coins in them then its better to move them to some International exchange.

Yeah. Try using tomatocage. I've been using him since 2013. Most trusted escrow on this forum.

Indian Cryptocurrency Exchange Zebpay Plans to Return All User's Money

on September 4, 2018, Zebpay (https://www.zebpay.com/) - one of the leading crypto exchanges of India made an announcement (https://blog.zebpay.com/zebpay-announcement-about-your-rupee-balances-656b0c3efd23) about the Rupee Balances of Users stating that the exchange is overwhelmed with the extraordinary support of users since 4 years, while also expressing their responsibility towards the users.

After RBI issued a circular to stop all the crypto-trading services and the related banking transactions in India, Zebpay was forced to ask its users to withdraw their balances within a certain allowable period of time. This move highly affected the Zebpay users and the exchange as well.

The situation remains quite the same in India, as the withdrawing banking support still prevails. However, the exchange took a responsible action for its users and made an announcement to return all of its user's money. Zebpay stated:

    "We could hide behind the stalemate that has been imposed upon our industry owing to the RBI action, but we choose not to do so. Today we are announcing our intent to work with our bankers, and return all the money (Indian Rupee) that you have sent us for purposes of trading. Not doing so would make us feel like we are holding you hostage, and that is not a good feeling. When this happens, all your outstanding INR-related orders will be cancelled, and your rupees returned to your bank account."

Commenting on the Future, Zebpay is convinced that Blockchain... To continue reading click here (https://cointopper.com/news/indian-cryptocurrency-exchange-zebpay-plans-to-return-all-users-money).

Thanks for showing the other side of the coin.  Other members may have faced such problems so they shared it.  But I think you may be right because Saturday Sunday are weekly offs.  May the their or no transactions on Saturday and Sunday.
And as explained by you that your transaction completed in just 3-4 hours.

So other people who experienced negative or positive results while trading through this exchange; should share here to improve the knowledge base of people who do not know about it.

Now a days nobody is using indian exchange

Yes most of the indian exchanges now have low volumes when compared to volume in march and april months

Right now most fastest PEER MATCH is WAZIRX , you sell crypto for USDT and withdraw USDT to INR also pretty good rate you get compare to live USD / INR price .

Agree, but the volumes are very low in wazirx so it's better to use high volume exchange like local Bitcoins for inr transaction and the rate is pretty good there also.

Agree with you. Zebpay charging more fees as compare to other platform in india and also taking much time to process any transaction.

ones the RBI will clear the matter then we can see the real traders in Indian exchanges

One of my friend working in Zebpay and always praise his company and their employee culture...

Never had a problem with the exchange. Always have a problem with gov regulations, and I dont see how this would be sorted out soon.

One needs to get few things straight. NO crypto exchange in this world is all good and trustworthy. Not in India nor international exchange will guarantee about your crypto or money. If you take bittrex which is International exchange based in US, you will notice that there rules are so stringent and account recovery is so pathetic that one may consider them as out right thief. However If you look from company perspective you need to keep your account safe. If you loose the credential or lose a double authentication then user is screwed. It is better to speak directly with zebpay associate than over email.

Yes even its not ban our govt will take morethan 6 months to frame regulation so its big problem for crypto traders.

Bye Bye ZebPay: https://blog.zebpay.com/zebpay-announcement-about-exchange-business-ebd848f7eafc

Yeah, received a mail from them. It's unfortunate, one of the biggest Indian exchanges shutting down due to regulatory uncertainties. With their huge userbase they could have adopted a peer-to-peer model like Wazirx to steer clear of regulations and stay competitive.

Zebpay will first introduce me about bitcoin. But now i can trade without zebpay.
Thanks zebpay
 
Bye bye zebpay

Drama over , Zebpay bye lol . They not getting solution which is baseless claim . They could have implemented Peer to Peer instead of closing down .

I have a friend who transferred some funds to Zebpay but never purchased Bitcoins with those funds.  So he had INR balance on Zebpay. Spoke to their customer service today who informed him that he will not be able to do anything right now because INR withdrawals are stopped and he cannot purchase BTC also becuase trading is stopped. This is horseshit and they are holding his funds to ransom.

First of all one it was one of the fastest purchase and selling site because it didn't had p2p.In the past they had notified to withdraw money many times.After ban the trades were being done he should have traded with tusd and trasferred the tusd amount to any other wallet or exchange for example wazirx.And already they had stated that no trade deposit withdrawal nothing will be done,only crypto wallet deposit and withdraw will be carried out.I don't know why people waited so long with their INR.Its really pathetic.People who either have loads of cash or very very tiny amount only they will do things like that.I guess nothing can be done at the present moment.Good luck I wish your problem gets solved.

it is peculiar how you have chosen to take such a defensive stance for such a scammy and shitty company like ZebPay.  they may have notified to withdraw, but (let's call my friend Joe) Joe is not into crypto at all, he simply wanted to buy a small amount of BTC.  He has a regular business which keeps him very busy and a wife who leaves him with no time.  certainly some fault lies with Joe who transferred the INR to Zebpay and left it lying there for months, ignoring notifications. however i don't think such behaviour can be called 'pathetic', perhaps lazy at the most.

on the contrary, an official response from Zebpay at this stage saying "nothing can be done, withdrawals and trading is currently closed." is rather pathetic. they need to figure out a way to give him his money back!  there was no crypto transaction made in this case.  they cannot and should not say there is no solution to their customers. i'm sure Joe is not the only one in this situation.

I am afraid ZebPay can really do anything in this situation. Because of RBI regulation, they're unable to use their bank a/c to process withdrawal. The only option left here is to convert to some crypto and withdraw. Joe might HODL that crypto or sell it through some P2P to recover his FIAT.

The issue is they are not allowing Joe to convert to crypto either...

Oops. I wish Mahin was around...

I also find very peculiar when someone has money and forget about it.As I said in earlier people who either have loads of money or a very very tiny amount will forget.Its not the defensive stance or something it about what is right and what is wrong.Crypto world is something we have to keep a bit updated.Earlier post please read I had stated what wrong zebpay is doing ??so do you really think I am taking sides.LOL ;D ;D ;D ;D ;D
Its human tendency they never accept their mistakes and try to finger-point others.Please read before making any conclusion.
The crypto banning and all have been an issue for more than 6 months and in 6 months didn't happen to look for money so busy wah bhai wah
New movie coming - crying baby girl LOL.....😂😂😂😂😂,crying baby girl user ignored.,keep crying
Don't you think at least once he should have checked what solution can be made.
Defensive or offensive please don't make it your personal opinion,Each statement stated is based on facts.

Perhaps you cannot afford to 'forget' about money as you say. Maybe that's all you have on your mind.  None of that is relevant.

Please tell me which statement of yours is based on facts?  Was it:


Whereas everything I have said is factual, your statements have all been your inflated opinion. Request you to please step away from this discussion since you are not contributing anything which could help.

Hi to all,

I not used zebpay but most of them are saying true and not true so I think for checking have to use this

Even my friends had a lot invested in zebpay still havent recieved their money back. any suggestions ?

Indian government banned zebpay, but as per news they are settling in another location.

https://qz.com/india/1428012/bitcoin-exchange-zebpay-moves-from-india-to-malta/

I guess the company will be operating from there(Malta).Already this news is getting viral.I wish all people get their money back in form of crypto or other means.Please yourself updated and get your investment back.
Zebpay had been one of the worst exchanges and it is still continuing its trends,so do not listen to any fuds from zebpay,do your own research.Good luck all.Soon the bearish market is going to over.happy trading all.

Zebpay had scammed many of my friemds account is their they taking money  and never deposit it after exchnnge in their account they were not take any action if ask

I was safe withdrawal all my investment in zebpay when it was happened the RBI was told to Crypto exchanges to stop deposits and withdrawals is going ban with Indian bank that time I was some of coins transfer to other exchange and some to withdrawal to my bank account without any issues but not the zebpay or any other indian exchanges stopped withdrawal and deposit with RBI rules.

Gov didn't ban their exchange they voluntary moved to Malta due to chik chik baji and tarikh pe tarikh with Court.



Bhai, don't know about scam but unhone rulaya bahut fiat withdraw ke liye. pure 1.5 month ke baad transfer kiya mera amount. but kar diya tha lol.