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We all know the boost of cryptocurrency in the last year, which is still continuing to be growing this year as well. The overturning of the Supreme Court Ban in India, gave cryptocurrency in India, the much-needed hype and adoption. If this hype has made you think and invest in cryptocurrency, then you must know the cryptocurrency exchanges through which you can buy cryptocurrencies. There are a couple of cryptocurrency exchanges in India, however, the most popular ones are WazirX and Zebpay. Currently, the world wants to know who is the winner of WazirX vs Zebpay competition.
Both WazirX and Zebpay are cryptocurrency exchanges based in India. Also, as cryptocurrencies are highly volatile, you want to make sure you are leveraging a cryptocurrency exchange platform that has a good reputation and credibility. Let's dive deep into the important aspects of WazirX and Zebpay to help you choose the right cryptocurrency exchange platform as per your needs.
Launched in 2017, WazirX was founded in Mumbai, India. However, after a few years, it was taken over by Binance Holdings – regarded as the worldwide leader in cryptocurrency exchange by trading volume.
Withdrawing and depositing INR-based capital is super easy and quick with WazirX. Another key feature of WazirX crypto exchange is its easy-to-use interface that helps a non-techie to navigate through the platform to buy and sell cryptos using a Live Open Order Book system. It also has integrated charting tools, helping people to analyze prices, trends, and historical data.
What sets WazirX exchange apart from others is its integrated P2P transaction engine with the Fiat Gateway platform of Binance, which is available on both Android and iOS devices. What's more? On WazirX, you can buy and sell as many as 70 cryptocurrencies. The withdrawal fees range from Rs 5-10, depending upon how you withdraw the funds.
On any platform, two variants of fees are charged – a taker fee and maker fee. WazirX allows spot market, STF, and P2P market trading. Hence, the charges will vary accordingly. If you consider WazirX, for the spot market the maker and taker fee is 0.2%. For P2P market trading, the fees are matched against the USD and 8 other currencies, which are Euro (EUR), Indonesia Rupee (IDR), Indian Rupee (INR), Nigerian Naira (NGN), Russian Rouble (RUB), Suadi Riyal (SAR), Turkish Lira (TRY), and Ukrainian Hryvnia (UAH).
However, WazirX only permits. USDT/INR P2P transactions. For P2P transactions, the fees are 0% with no minimum buy or sell orders. The maximum buy bid you can place is 2000 USDT with a minimum value of 14.5 USDT.
Zebpay is regarded as one of the oldest crypto exchange platforms based in Singapore, founded in 2015. Its Indian operations are carried out from Ahmedabad. However, it had to shut its Indian operations due to the cryptocurrency ban in India. Nonetheless, it was back in the market in 2020 after SC's hearing on RBI's crypto ban.
3 million users registered on the Zebpay cryptocurrency exchange so far, this crypto exchange platform is the most credible. Its cutting-edge security features and low transaction fees make the platform worthy enough. Zebpay exchange allows users to buy and sell cryptocurrencies with literally zero trading fees across 130 countries. Today, Zebpay offers six cryptos and 15 trading pairs.
On the Zebpay exchange, the trader fee is charged immediately after your purchase. However, if you have to wait for your purchase to get matched, then you will have to pay the maker fee as well. The taker fee is 0.25% and the maker fee is 0.15% on Zebpay. However, if your purchase is closer to the market prices, then always remember that the taker fee is high. Intraday fees charged on Zebpay is 0.1%.
Zebpay charges membership fees unlike WazirX, which is 0.0001 BTC or the INR equivalent to the current BTC prices. Moreover, Zebpay cryptocurrency exchange offers a 0% FIAT deposit & withdrawal fee.
The battle of WazirX vs Zebpay is becoming more intense day-by-day. With these details, choose the one that suits you best.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
