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. This wallet fee covers a fraction of our total maintenance cost. ZebPay will continue to pay for the rest.
This fee is only applied to inactive accounts ( accounts in which there have been NO trades done in the previous month).
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. This fee helps us maintain the security required to keep your crypto safe.
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, or its crypto equivalent value and will be deducted in crypto only.
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 .