Zeply Review – Fees, Supported Coins & Countries, Deposit & Withdrawals
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Cryptocurrency exchanges have been around for quite some time. Bitcoinmarket.com was possibly the first crypto exchange, employing PayPal to convert between BTC and USD in 2010. Fast forward to 2022 and we now have about 500 exchanges already established in the CeFi and DeFi world, with more to come.
In today’s article, we’re going to talk about one such exchange, Zeply. If you have heard of it, this article will provide further facts about it that you probably didn’t know. If you have not heard of it, then you might find out that it is the crypto exchange you have been waiting for. Follow me, as I take you through the platform in this article.
OVERVIEW
- The website’s design is impressive
- It is a relatively new website, being established in 2019 in Estonia.
- It is a Bitcoin-only website. No other cryptocurrency is supported, for now.
- It makes fiat to crypto conversion easy.
- Buying and Selling Bitcoin on the platform comes free of fees.
- It supports credit and debit cards for buying and selling Bitcoin
- It enforces KYC regulations on its customers. However, the KYC process is fast.
- The customer support process is very responsive, one of the best in the crypto world right now.
- It is duly registered and licensed under Estonian authorities.
- It offers referral bonuses and affiliate commissions.
SERVICES AND FEATURES
BUY AND SELL CRYPTO WITH NO FEES
This is one of the most impressive features of the exchange. It allows you to buy and sell Bitcoin directly from your bank account with your credit and debit cards. The process of buying BTC is also simple and fast but requires that you first add your credit or debit card to the list of approved cards before proceeding.
Transactions are done in either Euros, Pounds, or Dollars, with a minimum of 20 units of any of those currencies. Once you have selected how much you want to buy, click ‘buy now’ on the page, and follow the prompts. You’ll receive your BTC in a few minutes if the transaction is approved.
You can also buy BTC via wire transfer. However, this function is only available for Euro transfers with a minimum of 100 Euros per transaction. It also takes longer, usually between 2-5 business days. When the transaction is successfully completed, the user’s account is credited with Euros which can then be converted to BTC at their own convenience.
ZEPLY SUPPORTED COINS
Zeply currently only supports one coin, which is Bitcoin. For now, there have not been talks of adding support for other coins in the future.
ZEPLY DEPOSIT AND WITHDRAWALS
Deposits and withdrawals can be made either through bank cards or through wire transfers. The minimum amount that can be deposited through bank cards is 20 Euros while the maximum is 8,000 Euros or its equivalent in Pounds or Dollars. There is a minimum deposit of 100 euros and a maximum deposit of 100,000 euros for wire transfers. Neither method attracts any fee from the exchange.
The exchange follows standard procedures for Bitcoin deposits and withdrawals. However, unlike many other exchanges, no fee is required to withdraw BTC from your account. You may have to pay network fees, though. There is no minimum or maximum amount of BTC that can be deposited but there is a minimum of 30 Euros and a maximum of 10,000 Euros equivalent for cryptocurrency withdrawals.
Withdrawing via wire transfer gives users the opportunity to withdraw funds directly to their EUR or GBP bank accounts. The minimum amount required is 100 Euros or Pounds and you would need to provide the bank country, beneficiary IBAN, SWIFT code, bank name, and bank address. A 5 Euro fee is attached and the processing timeframe is usually between 2-5 business days.
DOES ZEPLY REQUIRE KYC?
In compliance with Anti-Money Laundering rules, Zeply requires that all those who use its platform complete KYC verification before they’re granted access to all essential functions. The KYC process is usually very fast and involves submitting identification documents, address verification documents, and a video selfie. Your account can also be verified via a video call. We will talk more about the step-by-step verification process as we move on in this article.
ZEPLY SUPPORTED COUNTRIES
Zeply has a long list of unsupported countries. It lists those countries in the FAQ section of its website and they number into about 180 countries, including the United States of America. That is not final though, as new developments and partnerships will be formed in the future. For now, however, the unsupported countries outnumber the supported ones. You can find the list of unsupported countries on this link.
HOW TO START WITH ZEPLY
REGISTRATION
On the homepage, there is an easy signup form to fill out. Once you click the ‘Signup’ button, it opens up a registration page where you need to fill in details like your official name, email address, and password. Then tick the box indicating that you have read Zeply’s terms and conditions, and click ‘Sign up’. The next step is activation.
ACTIVATION
Two things will be verified before your account is activated, namely your email address and your phone number. To verify your email address, click the link that was sent to the email address you provided. Clicking it automatically verifies the email address, you don’t have to do anything else.
Verify your phone number in the settings section of your account by entering it in the field provided. Click on ‘Request changes’ and enter the six-digit OTP sent to your phone number to verify it. If the code is correct, then your verification is complete!
KYC VERIFICATION
This is the last step before you have full access to the products Zeply offers. The process starts when you click on ‘Complete KYC’, which can be reached from your account’s dashboard. You’ll first submit your identification documents which can be your international passport, Driver’s License, Residence Permit, or National Identity Card. The documents must be bright and very readable, issued by a governmental authority, not password-protected, and not expired.
After submitting the documents, the next and last step is video selfie verification. This is done live on the website. This involves you slowly turning your head in the direction of the on-screen prompt. Click on ‘I’m Ready’ and wait for the team to review your documents once you are finished. You should get a reply within 24 working hours.
DOES ZEPLY HAVE A NATIVE TOKEN
They do not have a native token. The only token on the platform is Bitcoin while the fiat currencies supported are Euros, Pounds, and US Dollars.
IS ZEPLY LEGIT AND SAFE?
Zeply is a relatively safe exchange for the following reasons:
- It encourages users to set up two-factor authentication via an authentication app and SMS. This ensures that nothing is done on the users’ accounts without their knowledge. It is up to each of the users to be accountable for their own security in this regard.
- A support PIN is given to each user which must be provided to the support team when sensitive matters are being discussed.
- The platform automatically logs you out of your account after a period of inactivity. You can adjust this feature in the settings and choose between ten and twenty minutes as the preferred idle time.
- When withdrawing fiat through wire transfer, the exchange requires that you submit your bank statement if the bank account you want to withdraw to has not been used on the platform before. Without the bank statement, the withdrawal is not processed.
- When depositing funds through a credit or debit card, the card has to be approved before the transaction is processed. You would need to upload a copy of the card showing your name, the first six digits, and the last four digits of your card
With the facts presented above, what do you think? Zeply seems to be a fairly safe exchange. However, the exchange has not disclosed how funds are stored on it. It seems fair to assume that they will employ the security standard of storing funds in cold wallets to ensure they are not tampered with. In that case, the exchange’s security score increases significantly.
IS ZEPLY REGULATED?
Yes, Zeply is duly regulated under Estonian authorities. It has a physical presence at UUS, 12 – 2 floor, 10111, Tallinn, Estonia. It is also licensed by the EFA (Estonian Financial Authority) with registration number FVT000128.
Also, it is registered under the government with registration number 14729704. All of this information is clearly stated on the website, fostering confidence in users that they are here to stay and not to cart away with investors’ funds.
CONCLUSION
You’ve now heard about Zeply. It is a Bitcoin-only exchange that offers back and forth conversion between Bitcoin and Pounds, Euros, or Dollars. It is registered with the Estonian authorities both physically and on paper, therefore, you know it is legit. It also offers fast customer service as well as a well-arranged website that simplifies the whole process.
With what has been considered, does it fit your criteria for an exchange you could use? Remember that not all countries are supported on the platform, so check well to see if your country is on the supported list. If you decide it is not for you, there are a host of other exchanges you could benefit from. Find some of them reviewed on this website.
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- Is HotBit safe to use?
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- Is CoinFlex safe to use?
FREQUENTLY ASKED QUESTIONS
WHAT FIAT CURRENCIES DOES ZEPLY SUPPORT?
There are three fiat currencies currently supported on the exchange. They are the United States Dollars, Euros, and Pound Sterling. The main fiat currency is Euros but it can be changed to any of the other two with the settings tab on the Dashboard.
DOES ZEPLY HAVE FIAT DEPOSIT?
Yes, Zeply allows you to deposit fiat using either your bank cards or wire transfer. To deposit via your bank cards, you would need to first upload the card on the website and wait for it to be approved. Using your card for transactions on the platform is only possible once it is approved.
To deposit via wire transfer, you need to first submit a bank statement containing your details to confirm you’re the owner of the account. After that, it is smooth sailing for you whenever you want to make a transaction with that bank account.
CAN I TRADE WITH LEVERAGE ON ZEPLY?
You cannot currently trade leveraged products on the Zeply exchange.
WHERE IS ZEPLY EXCHANGE BASED?
Zeply is based in Estonia. It has a physical property at UUS, 12 – 2 floor, 10111, Tallinn, Estonia. It is also licensed and regulated under Estonian authorities.
HOW DO I GET CRYPTO ON ZEPLY?
To get crypto on Zeply, you would need to register an account with them and complete all the verification levels which include email verification, phone verification, and KYC verification. Once that is done, you can buy and sell crypto directly on the exchange with your bank cards or via wire transfer. You can also simply send crypto from other exchanges to your Bitcoin wallet on Zeply.
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