ZB.com is a Chinese-based cryptocurrency exchange platform with a vast variety of available trading pairs and a sizable community of traders worldwide. Launched by ZB Group on November 1st, 2017, it focuses mostly on the inner market of China but also accepts users from other countries. The website is available in English and Chinese languages.
The timing for launching the platform was not very good, as this was exactly when the Chinese government banned ICOs. Despite the negative conditions, the new platform caused lots of talking in the crypto community. The headquarters of ZB.xom moved to Hong Kong after that to avoid strict regulations of Mainland China. The platform has managed to pass through the hard times and at the time of writing, it is among the top 10 exchanges by the level of liquidity. Its positions by the level of adjusted and reported trading volume are also relatively high.
ZB.com provides a sufficient set of trading tools both for beginners and seasoned traders. Online reviews describe it as extremely intuitive and user-friendly providing smooth onboarding for new users. The market charts come with a traditional candlestick graph, order limits and an order book. Experienced traders can also make use of the depth chart, Real-time Capital Flow chart, price alerts, and many other features. Although this is a centralized exchange, it offers an OTC option as well. Users can buy QC, Litecoin, Ethereum Classic, EOS, Bitshares, Qtum, and a few other cryptocurrencies via bank transfer, Wechat or Alipay.
Margin trading is supported as well. Users can loan stable coins (USDT or QC), exchange them for cryptocurrencies and gain profits with up to x3 leverage. In addition, the platform offers crypto loans for those users who want to borrow stable coins for mortgaging their cryptocurrencies or vice versa. For miners, the Join Mining option is offered giving users the possibility to make money by depositing EOS or VSYS.
ZB.com native token
The platform has launched its own utility token ZB. This is the native currency used on ZB.com. It can be used for purchasing VIP status plans to reduce trading fees. Users can also stake their tokens to vote for their favorite projects to be listed on the platform via launchpad events. The platform seems to be somehow affiliated with EOS as in addition to Join Mining, there is also a dedicated page for EOS Block Producers voting.
At the time of writing, three key markets are available for the users. A huge variety of cryptocurrencies can be traded against Bitcoin, a stable coin USDT and a Chinese stable coin Qcash (QC). All together. The platform supports more than 200 trading pairs. This number constantly changes as the platform adds new cryptocurrencies and removes those that have low liquidity. ZB.com is available both on the web for Windows and Mac and as a mobile app supporting iOS and Android devices. The app can be downloaded from Google Play Market, App Store or simply by scanning the QR code.
For developers, ZB.com offers robust API integration. However, since the platform targets primarily the Chinese market, the documentation is available only in Mandarin at the moment of writing, which complicates matters for developers from other parts of the world.
Among the platform’s disadvantages, uses point to the lack of fiat currencies support. Verified users can only trade cryptocurrencies against stable coins with no possibility to switch them directly to CNY or any other real-word currency.
As for the trading fees, ZB.com charges the so-called “flat” fees which means that it makes no difference between makers and takers. For both sides of any given transaction, the fees start at 0.2%. VIP options are available for the holders of the platform’s native utility token ZB with the lowest fee equal to 0.06%. In order to get it, one should hold 2.4 million ZB tokens on his or her account for at least 30 days.
Withdrawal fees vary for different cryptocurrencies. Thus, to withdraw bitcoins, one should pay 0.0005 BTC. As for deposits, verified users can upload funds via wire transfer from their linked bank accounts, but there is no option to buy cryptocurrencies with a debit or credit card.
ZB.com has a good reputation in terms of security since it has never been hacked. To help users protect their funds, the platform offers two-factor authentication via the Google Authenticate app to conduct money transfers. Alternatively, email and SMS authentication are also available along with a transaction PIN which can be different from your main password.
On January 21st, 2019, ZB.com was accused by a Chinese user surnamed Zhang for reporting him to the local police in a post on the 8btc forum, a major Chinese crypto community. The post quickly gained hype and received more than 12,000 views in only 2 days. The user blamed the cryptocurrency exchange for freezing his account and even tried to report to the police, but his case was rebuffed as the exchange real address was unknown. The account was reportedly frozen as Zhang violated the platform’s user agreement.
On the website, there is no information about the team standing behind the project. However, the link to the company’s Linkedin profile reveals some key personas running the exchange. Omar Chen is ZB.com’s CEO. He also curates ZBG Exchange, a sub-brand of the initial project.