Zebpay’s efforts of bouncing back by slashing down 50% transaction fees after blanket ban

Bitcoin price is yet another day for bears, as perhaps establishing its sights on strong support zones. The pioneer cryptocurrency has tumbled from the highs of $8,313.3 to the current $6,545.9 levels. 

Amid this bearish environment, Reserve bank of India’s blanket ban on crypto-trading, and barring banks from dealing in cryptocurrencies back in April, Indian central bank has mandated payment gateway providers to withdraw support for cryptocurrency exchanges and other businesses dealing with VCs in India.

On the contrary, consortium of cryptocurrency firms had appealed in Supreme Court of India for reinstating of operations using INR back-up. For now, the country’s apex court lists the matter on September 11thfor final disposal. 

While Zebpay, who is the leading crypto-operator, in the recent past, revealed that it would be a offering a massive 50% discount on transaction fees for various cryptocurrency transactions.

The company has also stated that the program is intended to bring back trading interests in the crypto industry to the loyal users to the platform. 

The list released by Zebpay explains that a transaction which used to have an old withdrawal fee of Rs. 10 now, has a withdrawal fee of Rs. 5. 

Zebpay has announced that the slashed prices is effective 6thAugust as the other coins have also been distressed by the discounted pricing include XRP, EOS, and Kyber.

The leading Indian based company has also announced TrueUSD (TUSD) trading as an alternative for the above-stated ban, where the deposits and withdrawals going live using TrueUSD which is a part of the latest stream called stablecoins to hit the market with anxieties around the performance of Tether (USDT).

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -75 levels (which is bearish), while hourly USD spot index was at -25 (mildly bearish) while articulating (at 07:12 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex