Zebpay: weird difference between Buy and Sell rates

[Sahyadri]

I haven't used OTC service like Zebpay much but have been tracking the prices on Zebpay for the past couple of days.

There seems to be no logic in the spread (difference between buy and sell price)

Their Buy prices seem to be linked to the Coindesk BPI www.coindesk.com/price with a considerable markup.

Can someone explain how the Sell prices or spread is managed on Zebpay

Below are the two graphs displaying buy and sell rates for the past 12 hrs.

Buy rate goes North and South, Sell rate remains almost constant

Buy rate remain constant, Sell rate goes South.

[1714194895]

1714194895

[1714194895]

1714194895

[1714194895]

1714194895

[1714194895]

1714194895

[karan1498]

Zebpay
Unocoin

These guyz dont have guts and to open a proper exchange. All greedy fellows selling their own bitcoin to uneducated investors/people in India. Do not go with them ,service is also shit . Try Coinsecure.

[adityaa]

Zebpay
Unocoin

These guyz dont have guts and to open a proper exchange. All greedy fellows selling their own bitcoin to uneducated investors/people in India. Do not go with them ,service is also shit . Try Coinsecure.

Agree Coinsecure is the only true bitcoin exchanger of India. So, its better to stick with them instead of going to something else

[bitcoinisbest]

Currently zebpay is buying at 176200 and selling at 184812 so their buy/sell difference is huge 8000 Rs for 1 btc. Imagine in a day if they buy/sell minimum 100 btc so they get 8 lakhs a day. And since volume have increased manifolds time consider it 300 btc a day which is like whopping 24 lakhs in a day 

[Sahyadri]

Currently zebpay is buying at 176200 and selling at 184812 so their buy/sell difference is huge 8000 Rs for 1 btc. Imagine in a day if they buy/sell minimum 100 btc so they get 8 lakhs a day. And since volume have increased manifolds time consider it 300 btc a day which is like whopping 24 lakhs in a day 

Zebpay's 24 hr volume at the moment is BTC 2078.96854354

[zebpaysupport]

Please visit http://bit.ly/2sJ4f9x for understanding the difference in prices.

Regards
Zebpay Team

[kabit9]

Please visit http://bit.ly/2sJ4f9x for understanding the difference in prices.

Regards
Zebpay Team

In summary, ZebPay states that their prices are high because:

There is no single international price. Prices vary significantly between exchanges in different countries. (so you are basically saying you can charge whatever you want since there is no "fixed" price).

Our prices are not higher because we are fleecing our users. We keep increasing the sell price till we have sellers. And we keep the buy prices very high to discourage buyers. If we don’t do this, we will have no stock left to sell. (no comment)

The other thing you will notice is that difference between our buy and sell prices increases when prices are volatile. We have to do this as explained above to manage buy and sell demand. When prices are relatively stable, we can manage our stocks better and we reduce the spread.


ZebPay is NOT an exchange, though it may look like one.

[abhinav_thakur01]

This is quite true, when I tried to sell the btc all btc got sold for quite lower prices instantly and it seems like there is lesser option to make a trade more comfortable. They might be accepting btc at lower prices and could be selling for their own prices.

[Official Blogger]

I don't think any changes now as everything is normal but yes I to noticed that in mid- day

[rakesh889]

You can use flitpay bitcoin wallet.

Refer a friend and you both enjoy a 10% cashback on the amount deposited initially to buy Bitcoin.