This topic is gonna be having some info about the new custodial Partner for Brave rewards, Zebpay (Currently for India only).
- When will the BATs I had in the balance section before connecting to Zebpay appear in my Zebpay account?
Any balance you had earlier, in the browser will be bundled with the earnings you have for this month (ads seen in this month which will give you the earnings for this month).
Was told about this by Chriscat (project manager for Brave rewards in a community call), also I guess users should be getting a notice showing the same in the rewards section or rewards card on Desktop.
Sharing a screenshot below →
- When will my current earnings arrive?
Your current earnings should ideally arrive the consecutive month.
For example, you connected your Zebpay account in September 2023, you see brave ads in the month of September, you’ll see the balance in current earnings section in brave rewards increase every time you see a Brave Ad. (it’s a range of the amount between which you shall receive the payout)
The amount earned for a particular month are paid out to your Custodial Partner (in this case Zebpay) every consecutive month.
- How to withdraw my BAT amount to my bank account?
The BAT you earn will be deposited to Zebpay each month. You can sell these BATs in exchange for INR and withdraw that inr to your bank account (you need to verify bank details on the Zebpay account page though)
- What is the Membership fee charged by Zebpay and how to have it waived off?
I reached out to Zebpay and they said that the fee cannot be waived off by the brave rewards deposit each month.
The fee is of 0.0001 BTC per month.
To actually waive it off, we have two options.
i) Do atleast one trade (buy / sell crypto) in a month. Minimum trade amount is set at 99 INR. So you can sell your BAT each month or buy any crypto in order to not get charged the membership fee.
ii) You can lend your Crypto holdings. To automatically have your fee waived each month, what can be done is to lend your crypto holdings and have them renew each 30 days automatically. This way even if you forget to trade or lend, you’ll be able to get the fee waived.
Available crypto assets that can be lend are below
For anyone wanting to read the long official response can expand the answer.
Official Email from ZebPay
Thank you for contacting ZebPay’s support.
Please note, connecting your account to brave rewards and getting BAT deposited to your Zebpay account each month will not be considered as an activity to avoid membership fee.
You need to do at least one trade (buy/sell) in a month or use our lending feature to avoid membership fee being applied to you for that particular month.
The membership fee is not charged to all accounts. The membership fee is only for inactive accounts (accounts with no trades in the previous month).
To ensure our members do not pay any membership fee, we give various options so that you can reap benefits of all our features which helps them not only to trade but to earn passive income and earn yields from profits made by ZebPay:
- If you trade even once per month, you won’t be charged the membership fee.
- Alternatively, if you do not actively trade and would like to hold onto your coins as a long term investment, refer to the link below to see our new “Lending” feature:
https://help.zebpay.com/support/solutions/articles/44002182887-zebpay-lending-faqs
We make all the attempts to ensure our users are aware of the membership fees.
Information about the membership fee is available on your app under the menu section (three lines on top left of your app) under Fees section and also available on our terms of use on our website as well that every customer reads before investing.
Please understand that the membership model was implemented as there is a cost associated to maintain an inactive account.
Please check the link below for more information:
https://zebpay.com/in/features/pricing
-
What are the fees for trading my BAT / any other cryptocurrencies for INR and for withdrawing the INR to my bank account ?
So, Zebpay will be charging 0.5% as fees and 1% as TDS ( Tax Deducted at Source).
Once, you get the INR in your Zebpay account, you can withdraw it to your bank by paying a withdrawal fee of 15 INR. -
How to Deposit money (INR) to ZebPay account ?
If you want to deposit INR into your ZebPay account go to the portfolio section in ZebPay, you first need to verify your Bank details by entering your bank account number, IFSC code, Bank account holder name etc.
Once verified, you’ll be able to add money.
The Types of deposits allowed are RTGS / IMPS / NEFT
Do note that some banks / bank accounts charge fees for IMPS / NEFT / RTGS. So you will have to check it for yourself if any fees will be levied from your bank for your type of bank account.
Make sure to deposit money only using this bank account cause if you add using some other account, you will not receive the deposit in your ZebPay wallet and might lose that money and if you want Zebpay to assist you in such case then there’s a 500 INR fee.
- What are the fees which can be levied by ZebPay ?
I have already explained Membership fee in point 4.
i) Deposit fee - 12 INR per deposit
Example - You initiate a NEFT to your ZebPay account of 1000 INR, 12 INR are deducted as deposit fee so you’ll see 988 INR in your ZebPay INR balance.
ii) Crypto Deposits - NIL / No fees
iii) Fiat Withdrawal - 15 INR fee
You need to have atleast 100 INR to be able to withdraw.
Example - You withdraw 100 INR, you will receive only 85 in your bank account.
My suggestion - Withdraw only when you have a substantial amount of INR in your account. Since this is a flat fee and not calculated as per percenatge therefore, fee levied for withdrawal of 1000 INR is the same as 100 INR.
More details are at
@Saoiray you’re free to make any corrections or add new points to this topic. 