ZT Exchange Review – Fees, Supported Countries & Coins, Deposits & Withdrawals
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ZT Exchange Overview
In the sea of various cryptocurrency exchanges, investors and traders have to find the one that suits their needs and goals. This task is not as easy as it sounds, believe me. To be precise, there are a ton of different exchanges, and most of them offer similar services and features.
However, there’s always an exchange that separates itself from others. In this article, I am going to take a close look at one of the exchanges that got our attention due to its variety of features. The name of the exchange is ZT Global.
Whenever I see “Global” in the name of the crypto platform, it is always a good first impression. It shows the team’s ultimate goal – to be a global platform and used all around the world.
ZT Global is a cryptocurrency exchange based in Seychelles. The official launch of the platform happened back in 2018 so we can still consider it a new player on the crypto market.
The main feature of the platform is the crypto-to-crypto exchange and therefore, ZT supports a ton of different altcoins. ZT Global is a centralized cryptocurrency exchange. ZT is actually an abbreviation for Zenith.
The user interface seems fine with nice combinations of blue, black, and light blue colors. I was able to find some negative reviews online where users complained about the difficulty to create an account on ZT (did not receive a confirmation code via email), but nothing similar happened to me. Creating an account on the ZT exchange is fairly easy, but you have to verify it in order to use all features. But, more about that later.
I will try to break each service and feature and try to comment on all vocal parts of the platform. So, bear with me, and let’s go!
Services & Features
As already mentioned, ZT Global is a cryptocurrency exchange, so the first part of the platform I would like to show you is the exchange feature of course.
Exchange
The “Exchange” tab is located on the top left corner of the ZT’s homepage. Once you open it, you will notice that it is pretty well organized. You can compare BTC price against different crypto assets.
However, charts seem confusing to me. It overlaps with different data (might be a bug) and does not look clear, at least not at the first sight. If you are a beginner, I think you will have issues figuring them out. This is always a negative sign since these charts of comparing prices and coin price movements should always look crystal clear.
Finance
The finance section is the second most used feature on the ZT exchange. The whole section consists of four parts – mining, staking, bright Friday, and DOT Slot Auction. Let me break each one.
Staking
The staking tab is where you can choose some cryptocurrency and stake it to get profit in the future. You will see the list of all crypto available for staking with the annual rate for each one and a simple “transfer in” button on the right side of the section. Once you click on that button, a new pop-up will appear where you can enter the amount you would like to stake.
To be honest, I liked this tab since it is pretty easy to use. Of course, you need to have some crypto in your ZT account in order to stake it and get returns. As per ZT, their staking system “has low risks and stable returns”.
Mining
Crypto mining is something that most likely does not have a bright future, but ZT exchange still decided to have that service as well. In the mining section, you will find all crypto that you can mine such as GAGA, Wolf, KY, DED, etc.
Below each token’s name, there is the “mining now” button and once you click on it, a new window will show your more details about the mining, how much is the current annualized rate, etc.
Bright Friday
Bright Friday is a unique feature on the ZT exchange. I say unique since I have not seen this kind of reward often on other exchanges.
Every Friday you can win some prizes, such as garage kits, or some coins. For example, some of the recent awards here at the time of writing (13th of November 2021) were 10 dogecoins.
In the rules of the game, it says that ZT exchange has all the right to ban the user if they notice “there is any malicious cheating behavior”.
DOT Slot Auction
DOT slot auction is the final part of the “Finance” section. This is a parachain auction where you can use Polkadot (DOT) you are staking as votes to bid on some auctions and acquire a slot. Slots can be leased for 3 months per period, with a maximum duration of 96 weeks.
ZT Exchange supported coins
ZT exchange supports more than 100 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dogecoin (DOGE), Polkadot (DOT), and many others.
ZT Exchange deposits & withdrawals
TB.im exchange also has an OTC desk, which lets you buy and sell stablecoins like USDT, CNT, or LCG for fiat currencies like CNY, THB, JPY, and WJF.
You can also deposit any kind of cryptocurrency supported by the platform (and you have a lot to choose from there).
What is worth noting is that before you want to deposit anything to your ZT account, you have to verify your email, and phone number. Furthermore, if you want to withdrawal, you have to undergo the identity verification process. But, more about it later in the article.
I did try to Google and find some users’ experiences regarding withdrawal. What I found are mostly positive comments. However, some users did complain about not being able to withdraw some coins from the exchange such as LINK, VET, MATIC, or LUNA.
These reviews are new (October 2021). Users did contact ZT’s customer support but they did not give them any estimation date when this would change. Seems that only ETH, USDT, BTC, and XRP are available for withdrawal on ZT exchange for the time being.
Deposits and withdrawal fees
All deposits on ZT exchange are free of cost which is always nice to see from the user perspective. Withdrawal fees vary per coin. For example, the fee for BTC is 0.0005 BTC per withdrawal, and this is a fair fee compared to the industry’s average (around 0.0006 BTC).
ZT Exchange Trading Fees
In terms of trading fees, ZT Global rule seems fair as every trade on the exchange includes a fixed 0.2% fee. This puts it in the same fee-tier as Bittrex, Kraken, and other popular centralized exchanges.
The fee is the same (0.2%) for both makers and takers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders.
Does ZT Exchange have mandatory KYC?
ZT exchange does have a mandatory KYC (Know Your Customer) verification system. As already mentioned above, once you complete your registration that includes verifying your email and phone number, you are ready to make deposits to your ZT account.
However, if you want to withdraw (which is the ultimate goal of every investor and trader), you have to go through an identity verification process. I found this process pretty straightforward on the ZT exchange, and here is the list of info and documents you will have to provide:
- Your country
- Name and surname
- Certificate (ID or passport) number
- Photo of ID (or passport) with certificate number visible
- Statement verification
The whole process should be over in a few hours. Please check out Fractal protocol, the platform that tends to make your life easier with the verification process on all exchanges in the future.
ZT Exchange supported countries
The exchange accepts users from most countries in the world, except for the ones where cryptocurrency trading or acquisition may be illegal. If you are unsure whether crypto is legal in your country or not, please try to find the legal consultation.
Moreover, you can set a preferred language on the exchange, such as English, French, German, Italian, Russian, Filipino, or Chinese. You can set a preferred currency such as USD, EUR, and many others.
Are US investors allowed on ZT Exchange?
ZT exchange did not forbid any countries in their terms and conditions, but they did note that you should check if crypto is forbidden or have any restrictions in your country. Of course, crypto in the US is completely legal, but as per the information I have, US citizens are not able to download the ZT app.
This is always a negative thing for every crypto platform since the US crypto market is still the biggest crypto market in the world. If you are a profitable crypto platform and you are not on the US market, you are missing a lot of chances to increase that profit, it is as simple as that.
Does ZT Exchange have Fiat Deposit?
ZT exchange does not support direct fiat deposits to your account. This is never a good sign for complete beginners since this means that if you do not own any form of cryptocurrency, you can’t make a deposit to your ZT account.
However, ZT’s OTC platform allows for fiat-to-crypto trades between users, as mentioned above. Fees for these deposits seem pretty fair.
Does ZT Exchange have a Native Token?
Yes, the ZT exchange does have a native token and the name is ZTB (ZTB). At the time of writing (13th of November 2021), ZTB’s price is $0.3 and it sits at around #6000 in the world as per total market cap.
The total amount of tokens is 210 million and ZT’s team promised never to issue more. ZTB is the only special token of the zenith smart chain. The coin had its all-time high value back in May (close to $1.60).
Is ZT Exchange legit and safe?
I would consider ZT exchange a safe and secure platform. I did not find any negative reviews online regarding the safety of the exchange. Some steps that exchange prompts its users to take such as email, or phone verification simply increase the safety and reduce scammers on the exchange.
Furthermore, you can withdraw any funds from the platform until you go through the KYC (Know Your Customer) verification process. This is another positive sign about the exchange. I am a big fan of the KYC process since it heavily increases the safety of your account, features availability, and reduces the number of scammers.
Based on the reviews I found online, ZT exchange has pretty efficient customer support. When I navigated through the platform, I noticed it is quite easy to contact them. So, efficient and easy-to-reach customer support is something every user wants to see.
Is ZT exchange legit? Well, it is, isn’t it? High volume, number of users, presence in the US market are just some of the points that prove how legit ZT is.
Conclusion
ZT Exchange is a cryptocurrency exchange based in Seychelles. It offers a variety of features to its users such as trading, staking, mining, rewards, and many others.
What I like about ZT is that they are available in most countries, including the US. This highly increases the potential of the platform. It seems to me that the team around ZT exchange knows what they are doing and the future is bright for the platform.
Keep in mind that the fees on the ZT exchange (both withdrawal and trading fees) seem pretty reasonable, especially when compared to the industry’s average. For example, withdrawal per BTC on ZT is 0.0005 BTC while the world’s average sits at around 0.0006 BTC.
However, please do your own research before using ZT exchange.
At this point, it is good to note that all opinions and suggestions written in this article are not considered financial advice.
If you are not fond of the ZT exchange, make sure to check out our guides on other cryptocurrency exchanges:
- WhiteBIT Review
- Azbit Review
- Crypto.com Review
- Hotcoin Global Review
- Is LBank leigt?
- FTX.US Review
- Phemex review
- MXC Exchange Review
- Paybis Review
- Bitget Review
- Is BitForex Legit & Safe To Use?
- Is STEX Exchange Legit & Safe To Use?
- ACDX Review
- Is ZGB Legit & Safe To Use?
- PrimeXBT Review
- YoBit Review
- Uphold Review
- Aofex Review
FAQs
Let’s look at some frequently asked questions when it comes to ZT exchange.
Is ZT exchange legit?
Based on everything I found out about the platform while writing this article, I think it is safe to say the ZT Global exchange is a completely legit platform. But, what makes it legit? A few things.
First of all, it has a lot to offer to its users. A variety of features and services just show how serious ZT’s team is about the future. Also, it shows the potential of the whole project.
Secondly, ZT exchange has a pretty decent security system. Email, phone, and identity verification for all users are some of the steps ZT too to increase the safety and security of the platform.
Finally, users’ reviews seem decent as well. There were no heavy complaints from ZT’s users I found online. They were mainly complaining about not being able to withdraw some of the coins from the exchange.
Who owns ZT Global?
ZT Global was supported by a UK-based bank giant – SoftBank. This was the first, multi-million dollar, the investment made by SoftBank into a blockchain project.
Two companies together plan to raise global awareness of digital currencies and assets and jointly create a new era of the digital economy. It is not a rare case where some strong bank invests in a cryptocurrency exchange. The Crypto market is constantly growing and therefore inviting big players to invest.
Can I trade with leverage on ZT Exchange?
I have not found an option for leverage trading on the ZT exchange. In fact, leverage trading is one of the rare trading features missing on this platform.
For those of you not familiar with leverage trading, in Crypto, it creates a tool that allows investors to make spot transactions (buy and sell) with the help of borrowed capital from brokers. Leverage trading is an advanced type of trading in crypto, so I would not suggest it if you are a complete beginner.
Does ZT Exchange have a wallet?
Yes, ZT exchange does have its native wallet. In the ZT wallet, you can hold your cryptocurrencies when you do not trade.
Does ZT Exchange report to IRS?
I was not able to find 100% correct info when it comes to ZT and IRS, but my assumption is that the answer is no here. If ZT is not available in the US, then they do not have to report to the IRS.
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