Cryptocurrency exchange ZebPay aims to have a user base of 6 million in 2011, Avinash Shekhar, CEO of cryptocurrency exchange ZebPay, told FE Digital Currency. “We currently have a user base of 2 million customers who have completed the Know Your Customer (KYC) protocol. In 2010, the exchange recorded $ 8 billion worth of transactions,” he added.
However, he refused to comment on the 2011 sales forecast. The exchange claims to have invested 100% of its net income in investment. “Currently, the net profit margin is zero. After the 30% tax policy came into effect, the transaction volume decreased by 60%, but it is expected to decrease further after the withholding tax (TDS) comes into effect,” Shekhar said. Mr. says. In 2010, the exchange claimed to have made a net profit of 20% of its net sales.
The exchange claims to be bootstrapped in nature. “Our main revenue model revolves around the 0.06 to 0.20% brokerage firms charged for buying and selling cryptocurrencies, depending on the volume of transactions,” says Shekhar. The exchange claims to charge a monthly membership fee of $ 2 to customers holding cryptocurrencies in their digital wallets.
In addition, the exchange claims to have a business alliance with BitGo, a digital asset trust and security company, to manage services related to digital wallets. “We have a business partnership with the blockchain data platform Chainalysis, which is useful for transactional money laundering prevention (AML) analysis,” says Shekhar. Currently, the exchange supports trading in 150 different cryptocurrencies.
