ZB.com is this a scam? Review and Customers Reviews

ZB.com is one of the largest venues for cryptocurrency tradingwhich appeared on the financial market in 2017. During this period, the project has attracted the attention of traders around the world and quickly gained popularity.

In our review, we will analyze in more detail the opportunities that the project has implemented and find out whether ZB is a scam or a reliable exchange for trading digital assets.

 

Why ZB.com?

ZB.com is a large cryptocurrency exchange that appeared less than three years ago. Although the company focuses on the international market, the interface of the official website zb.com has only English and Chinese versions, which can create inconveniences for users from the CIS countries. The company is registered on the island of Samoa, from where the platform is controlled.

The company provides traders the opportunity to trade more than 120 trading pairs with BTC and USDT. Most of the pairs have high liquidity, and the main part of the trading turnover accounts for 10 types of CryptocurrenciesDash, Qtum, Ethereum, Hshare, Bitcoin, EOS, Bitcoin Cash, Ripple, Ethereum Classic and Litecoin.

The organization has its own token called ZB. There is no transaction fee for the token. Also the owners of the token have some advantages. Margin trading with leverage is available for ZB. Also with the purchase and locking of the token, users have the opportunity to get a VIP account. Thus, traders get privileges in the form of lower commissions, special technical support and discounts (How to Make Money on Cryptocurrency?).

The exchange provides two platforms for trading. The first version of the platform is simpler and allows customers to set an order to buy or sell cryptocurrencies, or to make a transaction at the market price. In turn, the trader sees the current orders and can assess the profitability of the transaction.

The second version of the platform is more advanced and suitable for more experienced clients. Users are presented with a chart of the price of each of the assets, indicators, lines and other functionalities that allow for technical analysis. The platform is suitable for both experienced traders and beginners. Tutorials are also available for beginners.

To keep abreast of the latest developments on the exchange, a separate news section has been created for traders. Users can read not only the latest events on the exchange, but also see important announcements, as well as keep track of new cryptocurrencies that have appeared in the exchange’s listing.

A mobile application has been developed so that users can have constant access to their trading account. Customers can log into their personal account using their cell phone 24/7. Software has also been developed that can be installed on a computer. Mobile application versions for the Android system, iOS, as well as software for Windows and Mac are available.

Among the main advantages of the platform are:

• intuitive platform;
• availability of your own token;
• mobile application, as well as software for the computer;
• a large selection of cryptocurrencies;
• security;
• margin trading;
• Loyal Commissions.

 

How to exchange cryptocurrency on the platform zb.com?

To make a cryptocurrency exchange, the user needs to make a few simple steps:

• log in to the system and go to the “Exchange” tab, having previously selected the platform type;
• choose a trading pair;
• fill out an order specifying the amount of cryptocurrency to be exchanged;
• click on the “Buy” or “Sell” button.

 

Verification on the ZB platform

Before depositing in the trading account and trading directly, the user must pass the verification process on the site zb.comwhich consists of several stages. First, the trader needs to confirm his e-mail address by entering the code from the letter. Only after that the client gets access to his profile.

The next step is to confirm your identity. To do this, you need to specify the type of user – a trader from China, an overseas user or a corporate user.

Next, you need to fill out the personal data, indicating the following information:

• country of residence;
• first and last name;
• the number of the identity document;
• city and address of residence;
• zip code.

You also need to upload a number of documents:

• his photo with a spread of his passport (or other identity document), the name of the site zb.com, name and current date;
• the first page of the document;
• a document that can confirm the place of residence.

The main part of the verification is complete. Now all that remains is to confirm your phone number and pass the 2-factor authentication. To confirm your cell phone, you need to specify your phone number and click “Send”. The password will come to your phone, which you should enter in the appropriate field and click “Submit”. In general, the identity verification process takes from several days to several weeks, but, since the exchange is a large one, the data verification may be faster.

 

Deposit and withdrawal

In order to make a deposit to your trading balance, you must first go to the tab “My Funds”, and then click on the button “Deposit”. Then you need to make several steps:

• Select the currency for replenishment;
• copy the received address and paste it to the place where the deposit will be made.

The minimum deposit amount depends on the type of cryptocurrency. For example, for Bitcoin it is 0.0001 BTC.

Withdrawal of earnings

To withdraw funds, the user should also click on “My Funds” tab and go to “Withdrawals” section. Then it is necessary to choose a cryptocurrency and fill in the following information:

• specify the amount;
• address where the transfer will be made;
• enter an additional password, if one has been set.

Cryptoexchange Commission

The trading commission of the exchange directly depends on the level of the client’s account. The higher the VIP level of the profile, the lower commissions are provided for trading operations:

• VIP 0 – 0.20% (0.10% payment with ZB);
• VIP 1 is 0.18% (0.09% payment with ZB);
• VIP 2 is 0.16% (0.08% payment with ZB);
• VIP 3 is 0.14% (0.07% payment with ZB);
• VIP 4 is 0.12% (0.06% payment with ZB);
• VIP 5 is 0.10% (0.05% payment with ZB);
• VIP 6 is 0.09% (0.045% payment with ZB);
• VIP 7 is 0.08% (0.04% payment with ZB);
• VIP 8 is 0.07% (0.035% payment with ZB);
• VIP 9 is 0.06% (0.03% payment with ZB).

Deposit and withdrawal fees

If the deposit fee is not charged for the deposit, the withdrawal fee depends directly on the type of cryptocurrency. So, for Bitcoin the commission is 0.0005 VTS, and for Ethereum – 0.01 ETH.

 

ZB.com Bonuses

From time to time the company holds various promotions, as well as gives active traders bonuses. However, at the moment there are no active bonuses.

Referral program

For active traders who want to earn extra income, an affiliate program was developed. Thus, clients can attract new participants to the project and receive remuneration for this. The percentage of the commission is directly dependent on the number of users attracted:

• >10 referrals – 10% of commission;
• 10-100 referrals – 11-20% (1% is credited for every 10 users);
• 100-1100 referrals – 20-30% (1% awarded for each 100 users);
• 1100-11 100 referrals – 30-40% (1% is credited for every 1000 users);
• 11,100-111,100 referrals – 40-50% (1% is credited for each 10,000 users);
• 111,100-1,111,100 – 50-60% (1% is awarded for every 100,000 users);
• <1,111,100 – 60-100% (1% for every 1,000,000 users).

Partners also receive certain benefits, such as priority in participation in events, the opportunity to be the first to try new products, and participation in influential partner ratings.

 

Complaints about ZB

The project is quite popular, so on the Internet you can find a large number of reviews from customers. In general, the company has a good reputation, but there are also negative opinions of clients. Of the positive aspects traders note the user-friendly interface, low trading commissions, as well as a large selection of trading pairs. Among the disadvantages traders point out the lack of a Russian version of the official website zb.com, as well as the lack of fiat currency support.

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Crypto exchange regulation

Due to the fact that more and more unscrupulous projects are appearing on the Internet, customers often fall for a scam. To protect yourself from scammers, you should check the license and the required documentation on the official website of the exchanger. Consider in detail how the regulation of the project.

ZB.com Regulator

It is known that the company is not regulated by any government agency and does not have a license. The address of the project’s head office is also concealed. All documentation is publicly available to any user.

zb.com User Agreement

The “User Agreement” is the main document of the project, with which each trader must necessarily get acquainted before the beginning of cooperation with the company. The agreement contains information on the rules of trading activities, as well as the responsibilities of both parties. The disadvantage is that the document is in English, which can create problems for people from the CIS countries. Let’s consider some points in more detail.

The agreement clearly states that trading in digital assets is very risky and therefore not suitable for the vast majority of people. In turn, the client acknowledges and understands that investing in digital assets may result in a partial or complete loss of their investment and is therefore advised to choose the size of their investment based on their own carrying capacity.

The user acknowledges and understands that digital assets may create derivative risks. Therefore, if he/she has any doubts, it is recommended that he/she first seek help from a financial advisor. In addition, in addition to the above-mentioned risks, there may be unpredictable risks. Therefore, it is advisable to carefully consider and use clear judgment to assess one’s financial situation and the aforementioned risks before making any decisions about buying and selling digital assets. It is worth understanding that any losses will be borne by the customer and the company will not be held liable.

All calculations of transactions have been checked by the organizer and all methods of calculation have been posted on the site, but the company cannot guarantee that the use of the resource will not be violated or there will be no errors.

The organization ensures that it complies with Know Your Customer and Money Laundering laws and regulations. As part of its controls, the company will take the necessary measures and technology to provide users with safe and secure services in order to protect against losses caused by money laundering to the greatest extent possible. A robust compliance system ensures that the host complies with regulatory requirements and regulatory standards both locally and globally and ensures the operational sustainability of the website.

When going through the verification process, you should take into account the fact that the company only accepts English and Chinese versions of the identification information. If personal information has been submitted in more than one of the two languages, it must be translated into English and properly notarized.

If a transaction occurs frequently on a user’s registered account or is outside of reasonable circumstances, a professional service team will evaluate and determine whether such a transaction is suspicious. If a specific transaction is determined to be suspicious based on the organizer’s assessment, the organizer may take restrictive measures such as suspending the transaction or denying the transaction and, if possible, may even cancel the transaction as soon as possible and notify the competent authorities, but without notifying the customer.

In the event of a transaction dispute, the buyer shall provide proof of payment within 24 hours as required by the website, including a screenshot of the translation, the serial number and relevant information. Disclosure shall be made in accordance with the above purposes as the organizer deems necessary, including but not limited to the buyer’s contact information, registration data and transaction records or any data and records on the website.

If the information published by the client on the OTC trading page constitutes a breach of contract, the website may immediately remove, block or dispose of the published information in accordance with the relevant regulations. The client himself will be responsible for the loss of assets and profits, which were directly or indirectly caused by the actions of the user.

Customer Service

You can contact the support service by one of the presented options:

• email: [email protected];
• online chat.

 

Is ZB.com a scam?

ZB.com – is an exchange for trading digital assets, which appeared on the financial market in 2017. During this time, the project has actively developed and gained popularity among customers around the world. Although the organization focuses on the international market, the interface of the site is translated into only two languages – English and Chinese. The headquarters of the company is registered on the island of Samoa, but the specific address of the location is hidden.

On the exchange users get the opportunity to trade more than 120 trading pairs with BTC and USDT. Most trading pairs have high liquidity, but most of the trading turnover is made up of 10 types of cryptocurrency: Dash, Qtum, Ethereum, Hshare, Bitcoin, EOS, Bitcoin Cash, Ripple, Ethereum Classic and Litecoin. The company also has its own ZB token. Token holders receive a number of benefits, including discounts on trading commissions. Clients are also able to trade on margin.

Various promotions and bonuses periodically appear on the zb.com website. For active traders, an affiliate program is provided, where clients can receive up to 100% of the commission of the participants attracted to the project. In order to provide users with constant access to the trading platform, a mobile application was developed, as well as software for the computer. Thus, traders can trade anywhere and anytime.

A large number of reviews from users can be found on the Internet. In general, the organization has a positive reputation, although there are negative comments. Having studied in detail the opportunities provided by the service, is it possible to conclude that ZB is a scam and swindlers? No, because the company successfully provides its services to traders around the world.

 

Conclusion

ZB – is a cryptocurrency exchange, which appeared on the Internet more than two years ago. During this period, the organization was able to gain popularity and became one of the largest platforms for trading digital assets. Although the service focuses on the international market, the interface of the official website is translated into only two languages – English and Chinese.

Nevertheless, the company tries to provide favorable and comfortable conditions for cooperation. However, before starting registration the client should understand that trading is accompanied by risks, so it is necessary to get acquainted with the relevant documentation. If you have had experience with the company, leave your independent opinion on our website to form a rating of exchanges for trading digital assets.