By Lal Singh ZebPay is one of India’s oldest cryptocurrency exchanges, established in 2014. At a time when crypto trading in India was still new and largely misunderstood, ZebPay emerged as an early mover in the digital asset space. Over the years, it has built a large user base and has witnessed multiple market cycles from big bull runs to sharp crashes and strict regulatory changes.
Yes, ZebPay is technically a secure and compliant platform but crypto itself is a high-risk asset class. Even a secure exchange cannot remove the fundamental risks of digital currencies. Let’s examine both sides clearly.
Pros of ZebPay (What Makes It Relatively Safe)
1. One of India’s Oldest Crypto Exchanges
Since ZebPay has been operating since 2014, it holds a major advantage over newer exchanges. Longevity matters in crypto because:
- Many exchanges disappear during market downturns
- Older platforms have survived multiple crashes
- They have faced regulatory pressure and adapted
This long operational history builds a basic level of credibility.
2. Strong Cold Wallet Storage System
ZebPay states that most user funds are stored in cold wallets, meaning offline storage not connected to the internet. Cold storage significantly reduces the risk of:
- Online hacks
- Cyber theft
- Server-side attacks
Only a small portion of funds is kept in hot wallets for daily withdrawals and trading operations.
3. Two-Factor Authentication and Login Security
Users are required to use:
- 2-factor authentication (2FA)
- OTP-based logins and withdrawals
- Device verification
These controls help prevent unauthorized account access if passwords are compromised.
4. KYC and AML Compliance
ZebPay follows strict:
- Know Your Customer (KYC) norms
- Anti-Money Laundering (AML) guidelines
- Periodic Re-KYC for users
It is also registered with India’s Financial Intelligence Unit (FIU-IND). This makes ZebPay one of the more regulator-aligned exchanges in India.
5. Clear Risk Disclosures
Unlike many flashy platforms that promise easy profits, ZebPay openly states that:
- Crypto is volatile
- Prices can move rapidly
- Investors should do their own research
This transparency helps users enter with realistic expectations.
6. Multiple Crypto Assets and Trading Options
ZebPay supports:
- Popular coins like Bitcoin, Ethereum, USDT
- INR deposits and withdrawals
- Spot trading for retail investors
It keeps the platform simple rather than pushing risky leveraged products aggressively.
Cons & Risks of ZebPay (What You Must Understand Clearly)
1. Crypto Itself Is High-Risk
Even if the exchange is secure, crypto prices can fall 40–80% within months or even weeks. This risk comes from:
- Market speculation
- Global economic events
- Regulatory uncertainty
- Whale manipulation
ZebPay cannot protect you from market crashes.
2. Regulatory Uncertainty in India
Crypto in India is still in a grey regulatory zone. While trading is allowed:
- Clear long-term crypto laws are still evolving
- Heavy taxation exists
- Future rules can change suddenly
Any harsh regulatory decision can directly impact exchanges and user access.
3. Exchange Risk Still Exists
When you keep crypto on any exchange, including ZebPay:
- You do not hold the private keys directly
- You depend on the exchange for custody
- If the exchange faces insolvency, legal trouble, or freezing of operations, fund access may be delayed
This is called platform risk, and it exists on all centralized exchanges.
4. Customer Support and Withdrawal Complaints
Some users have reported:
- Slow customer support responses
- Delays in withdrawals during high traffic
- Confusion during KYC or compliance updates
These are not unique to ZebPay but are common across crypto exchanges during volatile periods.
5. Fees and Charges Can Feel High
ZebPay charges:
- Trading fees
- Withdrawal fees
- Inactivity fees in some cases
For small investors, these costs can reduce profitability, especially in sideways markets.
Who Should Use ZebPay
ZebPay may be suitable if you:
- Understand that crypto is speculative
- Invest only a small portion of your total wealth
- Are comfortable with digital wallets and security rules
- Can tolerate sharp ups and downs in portfolio value
- Use it only as a high-risk investment tool, not as savings
Who Should Avoid or Be Extremely Careful
Avoid or limit ZebPay exposure if:
- You want guaranteed capital safety
- You depend on your investment for regular income
- You cannot emotionally handle steep losses
- You are new to investing and lack market discipline
- You are investing borrowed money into crypto
Final Verdict
ZebPay is one of the safer crypto exchanges in India from a technical and compliance perspective, especially because:
- It has existed since 2014
- It follows KYC and AML norms
- It uses cold storage and 2FA
- It is aligned with Indian regulatory reporting
However, no crypto exchange can make crypto itself safe. The biggest risk is not ZebPay it is the volatility and uncertainty of the crypto market.
If you use ZebPay with full awareness, limited exposure, and strong security habits, it can serve as a practical gateway to crypto. But it should never replace your bank savings, FDs, or long-term core investments.
Smart Safety Tips for ZebPay Users
- Enable 2FA immediately
- Never share OTP or login credentials
- Withdraw large holdings to personal wallets if holding long term
- Track government crypto updates regularly
- Invest only what you can afford to lose