There are two crypto exchanges based in India: Zebpay and WazirX. Zebpay had to shut down its operations last year to start afresh after the Supreme Court relaxed its ban on WazirX.
Getting started with Zebpay may be costly if you are just starting out with crypto investments.
Recently, WazirX partnered with Binance (the world’s largest crypto exchange), and offers three trading segments that are beneficial to both new and experienced crypto traders.
You will receive a detailed comparison of both Zebpay and Wazir X cryptocurrency exchanges in this article. It will help you determine which one is superior for your investments and trading needs.
Zebpay vs WazirX
1. Zebpay Trading Charges
Taker fees are trading charges that happen immediately after placing the order. Whereas, if you are required to wait for the order to get matched then you need to pay a Maker’s fees.
Zebpay has a different maker (0.15%) and taker (0.25%) fees. Orders near to market prices will get executed immediately and you need to pay the higher taker’s fees.
You can also trade intraday (buy/sell on the same day) on Zebpay. The intraday fees charged by Zebpay is 0.10%. The intraday for cryptocurrency starts from midnight.
Zebpay charges membership fees of 0.0001 BTC or equivalent per month, which equates to around 60 rupees on current BTC rates. WazirX does not charge membership fees.
Zebpay aims to reduce the membership fees as soon as the trading resumes fully.
#2. Zebpay Withdrawal Fees
Zebpay charges a withdrawal fee when you move your cryptocurrency. Withdrawal fees vary from currency to currency and are subject to minimum and maximum amounts.
As an example, if you want to withdraw Bitcoin (BTC) then you need to pay;
INR deposit and withdrawal fees
Zebpay does not charge any fees for depositing INR but charges Rs. 10 for withdrawing INR.
#1. WazirX Trading Charges
Trading is available in the spot market, P2P market, and STF market on Wazir X. There is a minimum order size for all trades. A particular cryptocurrency has to be bought/sold in an amount at least equal to X.
Trading fees for spot exchange
You can trade various cryptocurrency pairs on the spot market. Trading fees are 0.2% for both maker and taker. It does not matter when your order is matched.
Trading fees for P2P market transactions
Currently, only eight currencies are paired against USD Tether (USDT) on the P2P market.
- Euro (EUR)
- Indonesia Rupee (IDR)
- Indian Rupee (INR)
- Nigerian Naira (NGN)
- Russian Rouble (RUB)
- Suadi Riyal (SAR)
- Turkish Lira (TRY)
- Ukrainian Hryvnia (UAH)
You can only make USDT/INR P2P transactions with Wazir X. Payments made via P2P are free of charge, but there are minimums for selling and buyingThe minimum value of a buy order is 14.5 USDT, and the maximum value is 2000 USDT..
Trading fees for Smart Token Fund (STF) market transactions
This transaction facility is for new cryptocurrency traders who require assistance by paying a certain percentage of profits earned to experienced traders.
Wazir X charges 25% on profits from such STF Trading.
#2. WazirX Withdrawal Fees
There are minimum and maximum withdrawal fees on WazirX, which vary by cryptocurrency.
If you want to withdraw Bitcoins (BTC), for example, you would do as follows:
|Fees associated with Bitcoin withdrawals||0.0005 BTC|
|Minimum Withdrawal Amount||0.001 BTC|
|Withdrawal maximum||3 BTC|
|The minimum deposit amount is||0 BTC|
Tether USD withdrawal fees are 1.5 USDT, and Wazir X withdrawal fees are 10 WRX.
Let’s examine Zebpay and WazirX in more detail
WazirX, India’s largest crypto exchange, has partnered with Binance.
You can buy, sell, and trade over 70 cryptocurrencies and trading pairs with Wazir X. STF’s simple platform and STF facility allow new traders to learn from their peers by sharing profits.
WazirX even has its own token WRX that you can use for paying transaction fees, a major difference from Zebpay.
Features of WazirX
#1. Accessible Across Platforms
You can access the WazirX platform by downloading the app from Google Play or Apple Stores or logging into their web platform.
The platform can be used on smartphones (both Android and iOS), Windows and Mac PCs and laptops.
#2. Speed Transaction
WazirX crypto exchange is capable of scaling up its execution capabilities in a short period of time if trading volume increases. This platform is capable of processing millions of transactions seamlessly.
WazirX has not yet developed a system for accepting payments from merchants.
#3. Availability of advanced trading tools
WazirX exchange integrates all the features and charts of TradingView for traders and professionals to analyze prices and historical data and set trading strategies.
#4. P2P Marketplace, Spot Exchange, and STF
With WazirX, you can buy and sell for both beginners and advanced traders through three markets.
Over 70 cryptocurrencies can be traded on WazirX Exchange, a spot market. There are three segments based on currency pairs, namely USDT, BTC, and INR as the base currency.
P2P (Person to Person) Market
Using WazirX, you can buy USDT directly from any seller using a P2P platform. We act as a facilitator and escrow service.
After the seller confirms receipt, WazirX platforms release the escrowed currency.
STF (Smart Token Fund)
STF guides new traders through the learning process. With the help of experienced crypto traders, you can grow your portfolio over time.
As a result, you must share in the profits. In exchange for its services, WazirX charges a certain percentage of profits earned.
Cryptocurrency You Can Buy Through WazirX
WazirX exchange allows you to trade in more than 70 cryptocurrencies paired with USDT. USDT is a Tether USD currency backed by US dollars 1:1.
Apart from USD Tether crypto pairs, WazirX also supports Bitcoin (BTC) and INR pairs. You can buy cryptocurrencies directly on WazirX with the INR pairs.
Pros of WazirX
- There are more than 70 crypto pairs available for trading
- Markets for exchanges, P2P, and STF
- TradingView offers advanced trading tools
- Coins of the WRX token
Cons of WazirX
- There is no intraday trading facility
- The minimum withdrawal amount
Zebpay was one of the earliest and largest crypto exchanges that started in 2014, but had to close its operations last year due to RBI directives.
Zebpay recently relaunched its operations following the Supreme Court’s relaxation. Zebpay’s return to full trading on the exchange will take time. WazirX has a low number of supported currency pairs and there are no initial charges.
Features of Zebpay
#1. Deposit and Withdraw INR
Zebpay accepts deposits and withdrawals in Indian rupees. INR amounts can be used to purchase cryptocurrency. Bitcoins, ethereum, or USDT can be used to purchase other cryptocurrencies.
#2. Accessible across platforms
Zebpay trading takes place through mobile apps and web applications.
A computer, tablet, smartphone or laptop with an internet connection can access both trading platforms.
#3. Fast Lightning Payments
Zebpay offers a new protocol built over bitcoin that enables faster payments with small amounts by scanning or pasting invoices.
Currently, the system allows a maximum of 0.002BTC per transaction and up to 10 transactions per day.
Cryptocurrency You Can Buy Through Zebpay
Zebpay supports fewer coins and crypto trading pairs than WazirX. The company may be redesigning its exchange and platform in order to reopen after the RBI ban.
Zebpay supports only six cryptocurrencies at present: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and EOS.
A maximum of 15 trading pairs are available (12 cryptos/fiat and 4 crypto-crypto pairs). Hopefully, things will change soon.
Pros of Zebpay
- Withdrawals and deposits in INR
- Cryptocurrency trading on an intraday basis
- Reduced maker fees
- Fast payments
Cons of Zebpay
- Trading pairs limited to cryptocurrencies
- Fees of 0.0001 BTC for membership
- There is no P2P or STF facility
The Reasons You Might Prefer WazirX
There is no better platform for a new and advanced cryptocurrency trader than WazirX. Beginners can start investing in bitcoin using the STF facility.
Professional traders can build a decent portfolio by using spot and P2P markets.
Wazir allows INR deposits for free, which can be used to buy USDT and any other cryptocurrency.
Here are some reasons you might prefer Zebpay
Zebpay is restarting its operations and we hope that it can soon catch up with its peers like WazirX.
Zebpay offers a limited number of cryptocurrency trading pairs at the moment. You can, however, conduct intraday trading at a cost of 0.10%.