Why are we charging the fee?
We thought long and hard whether to establish this fee.
We calculated the cost of maintaining the physical infrastructure (computers, wallets, network) and the expert personnel required to perform this daily ongoing maintenance and monitoring. In the end, we decided to institute a monthly wallet fee of 0.0001 BTC (or crypto equivalent) per member, equal (on average) to roughly USD 0.80 / SGD 1.1 / INR 75. This wallet fee covers a fraction of our total maintenance cost. ZebPay will continue to pay for the rest.
Previously, trading fees covered the cost of wallet security so we didn’t charge a separate fee even to inactive accounts. In a few months, we will resume crypto-crypto trading. Once that trading resumes, we will waive the wallet fee for anyone who makes even one trade per month.
We offer no-fee trading on select crypto-crypto pairs, like BTC-ETH as well as one free FIAT -CRYPTO pair each month.
The wallet fee will only apply to inactive accounts and you can choose to trade or simply hold your crypto. You won’t be charged both fees.
We cannot comment about the wallet security procedures or fee schedules of other exchanges, but ZebPay’s 3 million customers have never suffered a loss of their coins and our wallet security continues to be among the best available anywhere.
How will this fee be applied?
The fee will be charged on the 1st of the month for the balance on that date and cannot be prorated. It will be 0.0001 BTC per member, equal (on average) to roughly USD 0.80 / SGD 1.1 / INR 75.
If your balance on the 1st is zero, you won't be charged any fee, regardless of your activity the rest of the month.
If the price of BTC increases we will lower the fee accordingly.
If your crypto balance is below the fee, your fee amount will be reduced. At no time will your balance go below zero.
If there is a verified withdrawal request pending for the entire account balance, then you will not be charged a wallet fee.
You can find further details on our fees at https://zebpay.com/in/fees
For any further queries please create a ticket here.