Zebpay, WazirX, and CoinSwitch are all Indian based cryptocurrency exchanges. While Wazirx and CoinSwitch survived the RBI ban, Zebpay had to shut down its operations and has relaunched its services after the Supreme court lifted the ban. Zebpay is revamping its operations, Wazirx was acquired by Binance, and CoinSwitch has launched its latest platform CoinSwitch Kuber. So ZebPay vs Wazirx vs CoinSwitch - Which Should you Opt for? Read on to understand a few things before you decide:
Zebpay: Creating an account in Zebpay is easy and can be completed in three steps. The user has to register with their mobile number and email id. After verifying the email address, the KYC has to be completed by uploading the Aadhar card, PAN card, and entering the bank details. The KYC will be completed in 48 hours, and once it is verified, you can start trading.
WazirX: Signing up for a WazirX account is easy and involves the following steps. The email id and password have to be chosen, and a password is set. On click of sign up, the email id will be verified by sending a verification email to the address provided. After the email verification, mobile verification has to be done. An OTP will be SMSed, enter, and verify. The next thing is to upload documents for KYC; you can choose to skip this step, but doing so will not allow you to withdraw your cryptos. If KYC is done, then trading, withdrawal, and deposits can be made. The KYC can be verified in 24 to 48 hours, and once approved, you can start using the account.
CoinSwitch: The process of creating an account in CoinSwitch is very easy. Enter the email id and set the password. Verify the phone number by entering your phone number. A verification code will be sent, and you can start creating transactions. No account is needed to create a transaction as there are many exchanges on this platform that offers anonymous trading.
Zebpay offers spot trading and intraday services, WazirX providesP2P, exchange, and STF, whereas CoinSwitch trades in exchanges and instant trading of cryptocurrencies.
Zebpay trading fee: There are two types of trading fees namely, the taker fee of 0.25% is charged after the order is placed. A maker fees of 0.15% is charged if you have to wait for the order to be matched. If the order is closer to the market prices, then the taker fees are high. The intraday fees charged is 0.1%.
WazirX trading fees: The spot market, STF, and P2P market trading can be done in WazirX, and hence depending on this, the transaction fees have to be paid. For the spot market, 0.2% maker and taker trading fee has to be paid. Trading fees for P2P are paired against the USD and eight currencies, including INR. INR/USDT P2P transactions can only be done, and the charge is 0% but has a cap for minimum orders.
CoinSwitch: Depending on the exchange selected for transactions, it charges a fee between 0 and 0.49%. The transaction fees are inclusive of the conversion rate.
Zebpay: One of the major advantages of Zebpay is that you can use the local currency, INR, to deposit and withdraw from the account. It can be used to buy cryptos, and once you have purchased them, you can use it to buy other currencies. The app is accessible from both web and mobile and can be used on any of your devices that have an internet connection like a laptop, tablet, PC, or smartphone. The application allows lightning-fast payments, and even small amounts can be transferred quickly. As of now, Zebpay only supports six cryptos and 15 trading pairs.
WazirX: This P2P exchange platform has many useful features like it is accessible across multiple platforms and can be used on both Android and iOS devices. It follows all the global standards and can execute orders smoothly in short times, even when the reading volumes are high. The exchange integrates features of charting tools and helps investors analyze prices, trends, and historical data. It is one of the few exchanges that offers three markets, which is ideal for beginners and traders. When compared to Zebpay, on WazirX exchange, you can trade-in as many as 70 cryptocurrencies.
CoinSwitch (the best choice): It is an exchange aggregating platform that is easy to use and strives to remove the intricacies involved in cryptos. The app will be made available on multiple platforms and hence can be used in many devices. The main focus of this platform is to buy or sell cryptocurrencies. The platform is simple to use and is similar to popular payment apps. It can be used to recharge the wallet and buy coins. It also offers the widest currency range using INR. The platform aggregates prices from local and global exchanges and provides the best rates to its users.
All the three mentioned crypto exchanges have benefits, but if you have to choose one, then CoinSwitch is worth considering. It is user-friendly, fast, secure, and have low transaction fees.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!