UPDATE 8 November 2021: Please be advised that Zonda Exchange is the platform previously known as BitBay. The rebranding took place on 8 November 2021.
Zonda Exchange Review
What is Zonda Exchange?
Zonda Exchange is an exchange operated by BB Trade Estonia OÜ with license in Estonia, It used to be registered in Malta, and actually formed in Poland as early as in 2014, but then under the name of BitBay. The rebranding from BitBay to Zonda took place on 8 November 2021.
Zonda Exchange has apparently won a number of different prizes in the blockchain and innovation space. We are not particularly familiar with what prizes are worth what, but the following list is at least presented on their website:
Zonda Exchange prohibits US-investors from trading on its exchange. If you’re a US-investor and you want to find an exchange for you, just use our Exchange Finder or our Cryptocurrency Exchange List and we’ll help you through it.
Something that we are very familiar with, however, are referral programs. Some exchanges have them, some exchanges don't. Zonda is one of the exchanges that does have a referral program. Through the referral program, existing users can refer new users and then earn a commission from the trading of the referred users. The commission earned is apparently up to 80% of the commission generated by your referrals (to reach the affiliate level where you earn 80%, you need to refer 5,000 users or more). The starting commission for a new referring user is 20%.
This platform is not only available for desktop, but also Android and Apple mobile phones. Most traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smart phone as well. If you’re one of those people, then this platform can still be for you.
Zonda Exchange Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-trading view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Zonda Exchange:
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
Zonda Exchange Fees
Zonda Exchange Trading fees
The fees at any exchange are very important to consider. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
Zonda Exchange’s trading fees for takers when trading fiat-to-crypto are 0.43%. For makers in a fiat-to-crypto trade, the trading fees are 0.30%. Should you instead trade crypto-to-crypto, the trading fees are substantially lower. Takers only pay 0.10%, and makers don’t pay anything at all, in a crypto-to-crypto trade.
All in all, the fees here at Zonda Exchange are competitive.
Zonda Exchange Withdrawal fees
Zonda Exchange’s withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
At Zonda Exchange, you can also deposit fiat currency. Fiat currency deposits are possible through wire transfer (but not through credit card). As this exchange accepts fiat currency deposits, it is what we call an “entry-level exchange”, where new cryptocurrency investors can take their first steps into the exciting cryptocurrency world.