IntroductionTransparency is very important when your business is online. Otherwise, how can a customer trust you? ZB was hacked in Aug 2022. Following that the company has been silent about its operations. Is this an exit strategy? Was the hack part of the exit scam? Read on to find outOverviewOfficial Web Address SwitzerlandCountry of OriginChinaCEORomex JhaFounding Year2013Exchange TypeCentralizedTrading OptionsSpot, margin, Trading fees0.20% trading fees, Lesser fees for VIP customersNo of cryptocurrencies200+Native TokenZB Token (ZB)Deposit methodsMaster Cards (Debit/ credit card), Bank TransferDeposit feesNo deposit fees for cryptocurrenciesWithdrawal methodsBank transferWithdrawal feesDepends on cryptocurrenciesSupported Countries180+Restricted countries10+Supported Fiat currenciesUSD, CNYMobile AppAvailable on Google & Apple App StoreWhat is Zb.com?Zb.com is a digital asset exchange that was founded in 2013 with the name CHBTC. It is owned by ZB group. However, Following the crypto ban, CHBTC ceased its operations in China and moved Overseas with its current name ZB.com. The CEO of the company is Romex Jha. Zb.com presents itself as the world’s most secure digital asset exchange. However, it was hacked in Aug 2022 with a loss of $4.5 million dollar. It has its own token called ZB Token. The exchange has more than 10 million users and has offices in Dubai, Malaysia, Singapore, Australia, Russia, South Korea, Hong Kong, Switzerland & U.S.Timeline2013CHBTC was founded2015Launched ETH, BTS, EOS, and QTUM trading2016CCN reported CHBTC as one of China’s largest exchanges2017Officially Closed Chinese Market operations following the crypto ban and rebranded as ZB.COM to focus on the international market2018Opened business of margin trading, custodian products, OTC trading, loan, Vote to List, ZB Partner Program, Market Maker Plan2019Hosted multiple meetups in Brazil, Bangkok, New York, Malta &Singapore2020ZB exchange token was chosen as one of the top 5 tokens2022Nearly $5 million was hacked from its hot walletSome of the red flags to consider while opening a ZB accountZB has suspended the deposit and withdrawals following Aug 2022 hackNo response from officials regarding the hackSlow customer responseTwitter account has been suspendedSocial media handles are not that active. The website is not transparentFeaturesTrading options – Spot, Margin, OTC, and derivatives trading are available on ZB. It also features a trading bot to avoid emotional trading. Trading Fees – You can enter a VIP level by purchasing a ZB token or Holding a ZB token for 30 days. For VIP Level 1 customers the trading fee is 0.18% and for VIP level 9 customers trading fee is 0.09%. For regular users trading fees is 0.20%. Loan – you can avail loan by pledging the collateral amount.Rewards Center – Invite your friends to join ZB and you both will get 5 USDT and up to 500 USDT can be claimed for further tasks. Exchange Partners – you can generate your own referral code and invite friends. You will get 40% of their trading fees as a commission on successful registration. ZB trading bot – you can create your own trading bot where orders will be executed as per the stop loss set by you. It offers 3 trading bots for the sideways market, bear, and bull market. Cryptocurrencies Available on Zb.comZB.com offers more than 200 cryptocurrencies. Some of the Popular cryptocurrencies areEdaFaceZB TokenEthereumTetherLitecoinDogeCoinLunaMaticSolanaShiba InuHow to Create an Account on ZB?Let us create a new account on ZBLog on to zb.com and click [Sign up]Enter your email address and set a password. Then enter the authentication code sent to your email address. To unlock the full functionality of the account, you need to verify the account. Navigate to your account dropdown menu and select [ID verification]Click [Verify]Download the ZB Pro mobile App and verifyClick on [Real Name Verification] from the mobile app drop-down menu and select the region [Mainland China / Overseas]If you are a Chinese national, upload a Chinese ID and take a self-video of yourself and upload it. If you are an overseas national, select your region and upload a Government-issued photo ID and then upload a selfie video.It may take 24-48 hours to fully verify the account. In case it takes more time, raise an email ticket. The difference in service limit between verified and unverified accountsFunctionsUnverified accountVerified accountDepositUnlimitedUnlimitedWithdrawalLimited $100K in totalUnlimited in total, Single currency limited to $2M/dayFiatQuick deposit onlyUnlimited Quick trading and Multiple options trading are availableHow to Buy Cryptocurrency on ZB?You can buy cryptocurrency using debit/ credit cards, fiat currency, or bank transfers. However, the recommended method is using debit/ credit cards. Log in to your ZB account and click [Buy Crypto] and select [Debit/ credit card] Enter the purchase amount and the corresponding amount will be converted into a selected cryptocurrencySelect the payment method Banx/ Simplex/ AdvcashConfirm once you verify the detailsYou can view your transaction status within a few minutesHow to Sell Cryptocurrency on ZB?Let us learn to sell crypto on ZBLog on to your ZB account and Navigate to [Buy Crypto}, click [Fiat]Click on Sell CryptoType the amount of crypto you want to sellClick on [Fiat]Choose the payment methodClick sellYou will get a confirmation once your transaction is completeHow to Deposit Crypto on ZB?Let us learn to deposit cryptocurrency on ZBLog on to ZB.com and navigate to the [Funds] menu. Select [Deposit]Select the cryptocurrency you want to depositClick the deposit address and paste it into the withdrawal platformYou can also do this using the QR codeFor some currency deposits, you may have to provide the ZB account name and remake (MEMO)Once the deposit is completed, refresh the page to check the progress of the depositHow to Withdraw Crypto on ZB?Let us learn how to withdraw crypto on ZBLog on to ZB and navigate to the [Funds] menu. Select [Withdraw]Select the coin you want to withdrawSelect the withdrawing address and type the amount you want to withdraw. If you are adding a new address, provide a nickname for it for future use.For some cryptocurrencies, you may need to provide the ZB account name and remarks (Memo) which is a payment ID. Provide the transaction password, google authentication code, and dynamic verification codeConfirm the verification details sent to your emailReturn to the withdrawal page and enter the amount to wish to withdrawEnter the transaction password, google authentication code, and dynamic verification codeOnce the withdrawal process is completed, you can check its progress in the withdrawal history section. Exchange Fees & Supported PaymentsThe maker and taker fee for a regular user is 0.20%. However, if you are joining the VIP level program by purchasing ZB Token or holding ZB Token, then your trading fee is considerably reduced. Have a look at the table below to know more about VIP-level trading fees. VIP LevelTrading FeePay with ZBPurchase ZB/ 30 dayLock-up ZB/ 30 dayUP Amount ZB10.18%0.09%100250020020.16%0.08%5001200050030.14%0.07%100050000100040.12%0.06%5000200000200050.10%0.05%200008000001000060.09%0.05%3000012000003000070.08%0.04%4000016000004500080.07%0.04%5000020000005500090.06%0.03%60000240000080000There are deposit fees for cryptocurrencies.There is a minimum withdrawal amount for cryptocurrencies and withdrawal fees vary for each currency. ReferralZB.com has a referral program where the referee can earn up to 40% of their invitee’s trading fees. For regular users, the trading commission is 10%. If you are becoming a partner at ZB to increase their trading community then you will get more benefits. Who can become a partner at ZB?Community leaders from the cryptocurrency, financial and related industries with no less than 500 community members and/or no less than 1000 followers on each of their active social platforms.Blockchain-based market, search, and data analytics websites with at least 1000 page views/day.Other individuals or organizations with the potential to increase ZB’s reach to new audiences.Partners are categorized into various partner levels depending on their performance and are rewarded respectively. Customer SupportZB.com has a help section where you can find general and specific FAQs related to account issues. If you are not happy with the FAQs for your queries you may contact the email support team by emailing them at [email protected]We are not happy with customer care as it won’t solve any emergency or urgent queries. Recent UpdatesFollowing the hack in Aug 2022, the deposit and withdrawal function has been halted by ZB. There is no announcement on when the function will be back. Moreover, the official Twitter account has been suspended and there are many mimicking accounts on Twitter posing as the official accounts. There is no significant activity on Facebook since 22 July 2022. The social media activity is less for the past few months. The officials have not responded to anything related to the hack. These are red flags. Netizens conclude that the hack was a part of an exit scam by ZB. We can only hope for the best. ConclusionZB was one of the cryptocurrency exchanges founded in China. Following the crypto ban in China, it moved overseas to continue its service to international users. It was hacked in Aug 2022 and it lost around $5 million dollars. It suspended withdrawing and depositing cryptocurrency in its exchange following that. The officials have not yet responded regarding the hack. Their social media handles are not active. The Twitter account has been suspended. There is no proper customer support. These are all red flags to consider while starting an account in ZB. Netizens conclude that the hack was actually an exit scam even though there is no solid evidence for that. We highly recommend not trading in this exchange as it is not transparent about its operations. FAQsWhere is ZB.com located?ZB was founded in China in the year 2013. However, following the crypto ban in China, it moved its office to Zurich, Switzerland. Most of its board members are from Dubai. It recently made Dubai its strategic office to support the MENA regionIs ZB available in the U.S.?Even though it has offices in the United States, it is not highly adopted by Americans. ZB has a more global presence and especially in the Asia region. Does ZB require KYC verification?To unlock the full features of ZB you need to complete KYC. There is no need for KYC for deposits but for withdrawals you need KYC verification. Once you have done KYC you are entitled to unlimited withdrawals and deposits. Has ZB ever been hacked?ZB was hacked in Aug 2022 where it lost almost $4.5 million. It has temporarily stopped deposits and withdrawals following the hack. The officials have not responded after the hack. Moreover, their social media account – Twitter has been suspended and other channels are not so active. The customers are having a high time getting responses from the ZB team. ZB.COM Exchange Ratings Trading Fees Earning Programs Website Transparency SecurityProsIt provides high liquidity.Low and competitive fees.Advanced trading platform.Can trade on Margin and in Futures markets.ConsOnly a limited number of Crypto assets are available.Most users are Asians and need to expand beyond.Only 2 supported fiat currencies – USD & CNYThe official Twitter account has been suspended and there are many mimicking accounts on TwitterVery less social media activityDeposits and withdrawals have been halted following the hack in Aug 2022The officials have not responded to the hack in Aug 2022 span,
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