Both WazirX and Zebpay crypto exchanges look similar at a glance. But if you are a beginner crypto investor then WazirX will be more suitable to grow your crypto portfolio.
Zebpay’s crypto marketplace and crypto segment are suited more for intraday-trader-like crypto-investment style.
The article will help you understand in detail about both the crypto exchanges and help you to choose based on your requirement.
Zebpay Crypto Exchange Overview
Zebpay is a global crypto exchange with a presence in Australia, Singapore and India. Zebpay was trusted by over 3 million crypto users before shutting down due to the RBI ban in 2018.
Zebpay re-launched its Indian operation after the Supreme court reversing the RBI orders in 2020.
Zebpay is a member of Bitcoin Association Switzerland (oldest active Bitcoin & Fintech association) and Crypto Valley (an independent government-supported association).
WazirX Crypto Exchange Overview
WazirX started operations in India in 2018. WazirX has a crypto investor base of over 3 million. And was acquired by Binance (the world’s largest crypto exchange) in 2019.
WazirX sources a lot of crypto technology and marketing knowledge from Binance which is visible from its services and market places.
Both WazirX and Zebpay are safe, trusted and popular exchanges led by crypto experts. Let’s compare every feature side by side of WazirX vs Zebpay.
You can also read detailed WazirX review here.
WazirX vs Zebpay Account Opening
You can open a Zebpay account online in three easy steps.
- You have to register with your mobile number and email id.
- Set 2FA and Complete KYC by uploading the Aadhar card, PAN card
- Entering the bank details.
KYC verification will take somewhere around 48 hours (2 days). Post which you can start trading.
You need to complete the following steps to open WazirX account online
- Provide an email id and set the password to create an account
- Select security option (2FA or Google Authenticator)
- KYC Option – You can choose to have a Non-KYC account, but can’t withdraw your cryptos. If KYC is done, then you have full access to trading, withdrawal, and deposits can be made.
- Link bank account and proceed for verification
The KYC and bank verification can take 24 hours to 72 (3 days) time.
Verdict – For beginner WazirX is a better option as WazirX offers a flexibility to open a KYC & a Non-KYC account. But both the exchanges have the same process for the online method of account opening.
Platform Comparison of WazirX vs Zebpay
WazirX trading platform is clean, intuitive and offers an excellent user interface.
There is hardly any clutter. The currency pairs, charts and the buy/sell order forms are clearly visible and easily accessible. This makes the platform extremely easy for beginners to understand and use.
Zebpay’s platform is available in dark mode giving it a look similar to a forex trading platform. The color combination and feel can be hard on the eyes.
You need to spend some time to find currency pairs and understand things like order books because the buy & sell orders are arranged one on top of the other. The default chart size is small which is hard to see.
Verdict – The WazirX trading platform is more clear, sharp with relevant things like charts, currency pairs and order books easily available. Making it intuitive and user-friendly even for first-time crypto investors.
Crypto MarketPlace Comparison
The spot exchange is similar to the NSE trading platform where you can buy/sell cryptocurrency directly. It is the only common marketplace in both exchanges.
#1. Crypto Base Pairs
Base pairs are currencies against which other cryptos are listed. For example, in ETH/ INR pair, INR is the base pair against which ETH can be bought.
Likewise, ETH / USDT pair can help you buy ETH using USDT.
WazirX spot exchange has four base pairs – INR, USDT, BTC and WRX giving you more flexibility to buy/sell crypto using the four pairs. You can sell single crypto in three different crypto/ currencies without any additional fee for changing pairs.
In comparison to that, Zebpay offers only two INR and BTC base pairs.
#2. Supported Cryptos Pairs
Overall Zebpay has around 30 cryptocurrencies to trade on its exchange. Whereas, WazirX lists over a hundred cryptocurrencies for trading on its exchange platform.
There are 28 cryptos listed against INR on Zebpay. This means you can buy them directly using INR deposits in your Zebpay account.
WazirX offers 70 crypto pairs against INR making it a better option when compared to Zebpay.
Verdict – WazirX stands tall in comparison to Zebpay on account of base pairs and supported cryptos.
Also read – Best forex trading app in India
Zebpay vs WazirX : Trading, Deposit & Withdrawal Fees Comparison
You can deposit INR using IMPS, NEFT, RTGS and UPI methods on both exchanges.
A side by side comparison table of the various fees is under –
|Intraday Fees||Not available||0.10%|
|Membership fees||None||0.0001 BTC or equivalent per month*|
|INR deposit fees||Up to 5.90||Rs. 7|
|INR withdrawal fees||Not mentioned||Rs. 10|
*Zebpay charges membership fees only in the month in which you haven’t made a single trade which is not ideal for occasional traders.
Note – 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.
From the above table, it is clear that the WazirX fee structure is suited for new and experienced crypto investors.
Whereas, Zebpay is better for crypto traders because they have to pay 0.10% fees which is half the fees charged by WazirX.
Verdict – WazirX has a simple fee structure that is easy to understand and remember. In Zebpay you can’t afford to miss trading every month or you need to pay extra for membership fees, which is harsh for a new investor.
Crypto Investment Related Other Services Comparison
#1. WRX Coin – WRX is the native coin of WazirX that helps you save 50% trading fees when you pay fees using WRX coins.
WRX coin has been created to reward referrals and engage the community by giving trading prizes.
#2. P2P Trading Platform – Using a Peer-to-Peer (P2P) trading platform you can buy/sell USDT directly from other crypto traders without WazirX in between.
WazirX plays the role of matchmaker and custodian in P2P exchange.
#2. Smart Token Fund – Using STF, a beginner trader is introduced to an experienced crypto trader who then helps manages the crypto portfolio of the new trader.
STF arrangement helps beginners in learning from experienced traders and also provides them the opportunity to earn profits.
#1. Lending – On Zebpay, you can lend your idle lying cryptos and earn interest money. This is like a “Fixed Deposit” that helps create an additional income stream for long-term crypto investors.
Cryptos and the Annual percentage yield (APY) that you will get is indicated below-
The APY depends on the cryptos and the time period for which you lend. The fixed time periods can be for 7 days, 30 days, 60 days, and 90 days.
In case you want to withdraw early then you need to pay the penalty.
#2. Zebpay Wallet – Zebpay is the only crypto exchange in India that offers a separate wallet facility to store 29 cryptocurrencies.
Verdict – The related products and services of Zebpay and WazirX are altogether different and strictly not comparable. You can choose the exchange based on your product requirements.
Customer Support Quality Comparison
The social media accounts, especially the Twitter of both the exchanges are flooded with customer complaints mostly related to –
- Delay in KYC and bank verification
- Delay in deposit confirmation.
The first is due to the small team size to handle a growing investor base of over 3 million. And second is due to the recent non-corporation of the banks causing delays.
Lastly, there were also complaints of system hang during periods of extreme price fluctuations causing freeze of trading platforms.
Verdict – Both the exchanges are average on customer support and have to ramp up their support team and IT structure to handle the growing user base.
Why You Would Prefer WazirX
WazirX platform is easy to understand for a beginner as well as experienced crypto traders. You can invest in bitcoins and 70 other cryptocurrencies directly through INR investment.
WazirX is also backed up by Binance (world’s biggest crypto exchange) which assures that in case Indian government bans crypto again then your WazirX portfolio would be moved to Binance.
Pros of WazirX
- 70+ crypto pairs for trading against INR
- Spot Exchange, P2P, and STF markets
- Clean and user-friendly trading platform
- WRX coins to reduce trading fees
Cons of WazirX
- Minimum withdrawal amounts
- Rs. 5.90 INR Deposit fees
Why You Would Prefer Zebpay
Zebpay is a better option if you want to trade in certain crypto pairs frequently. That is because of its lower intraday trading fees of 0.10%.
Otherwise, you should look to Zebpay only if you want to earn interest passively or make use of wallet services.
Pros of Zebpay
- Intraday crypto trading facility
- Lightning-fast payments
- Lending and Wallet services
Cons of Zebpay
- Membership fees of 0.0001 BTC (approximately Rs 300)
- Limited number of cryptocurrencies supported
WazirX has the backing of Binance and in case of any crypto ban in India, your account will be taken over by Binance. This gives WazirX an edge over Zebpay.
The other factors that make WazirX suited to new crypto investors are intuitive UX, availability of 100+ cryptos and WRX coins to reduce fees.