After the Zebpay exchange announced to shut down its operations, another Indian crypto exchange, Bitbns has come to the rescue of the distraught Zebpay exchange users. Zebpay’s sudden shutdown decision has created a complicated situation in the Indian crypto market.
Bitbns has asked Zebpay customers not to be worried about the prevailing situation. It has urged the Zebpay users to join its exchange platform. Commenting on the situation, Bitbns stated that it was a very ‘bad day’ for the entire crypto community in India.
How To Migrate BTC Funds
In order to migrate their BTC funds from Zebpay to the Bitbins crypto exchange, the users need to follow a couple of simple steps to complete the transfer. Users need to perform a couple of steps on Bitbns and another set of steps on Zebpay to complete the migration process.
Users need to first login to their Bitbns account and navigate to “Wallets” and click “All Wallets”. Then they need to find BTC among the list of available tokens and click the “Receive” icon. On clicking the “Receive” icon, a 34-character long wallet address will be displayed. The user then needs to click “Copy Address” in order to copy the wallet address, as stated in the Zebpay blog on Medium.
After completing the above-mentioned steps on Bitbns, the users then need to login to their Zebpay account and click “Send”. After this, they need to click the Bitcoin icon and fill in their name and paste the Bitbns wallet address that they copied, and click “Save”. Users need to then click “Send all” to migrate the entire BTC amount or they can enter the amount that they wish to send and click the “Send” icon. After this, they need to check their wallet balance on Bitbns for confirmation.
Users deciding to move their funds from Zebpay to the Bitbns crypto exchange would be refunded the withdrawal fee that’s charged by the former on selected tokens. Users who wish to receive the withdrawal fee refund need to keep the entire migrated amount in the Bitbns wallet for at least a week. They can alternatively also engage it in trading activities on Bitbns, as stated in the Bitcoin Exchange Guide report.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]