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How to Buy 0x - Where to Purchase ZRX?

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A creation of 0x Labs and launched in the year 2017, 0x (ZRX) is essentially an infrastructure protocol that facilitates easy exchange of Ethereum-based assets, through P2P (peer-to-peer) technology. 0x (ZRX) accomplishes such functionality through publicly auditable open-source smart contracts. The 0x network is enabled with the help of an ERC-20 token referred to as ZRX.

0x’s (ZRX) uniqueness lies in the fact that it allows easy trading of both non-fungible (ERC-723) and fungible (ERC-20) tokens. In this detailed article, we will delve into multiple aspects of purchasing 0x (ZRX).

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Why Trade rather than Buy 0x (ZRX) for Cheap and Fast Returns?

1

You Don’t Need a Wallet:

You trade on the price movement of the coin without having to buy and store it.

2

You Can Use Standard Payment Methods:

All regulated brokers accept popular methods of payment such as credit/debit card and bank transfers.

3

Trades Are Fast and Withdrawals Are Easy:

Trades are executed within seconds and withdrawals will reflect instantly in your account.

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5 Things to Consider if you Want to Buy 0x (ZRX)

It’s crucial that you study and account for some important factors before purchasing 0x (ZRX) for the first time. Doing so will ensure that you don’t run into any problems later and can complete the ZRX purchase in the quickest and safest manner possible.

1. Carefully choose your preferred secure payment method

Please bear in mind that there will be different payment modes available for crypto purchase, in different locations across the world. When it comes to picking the best payment option to buy ZRX, you should pay close attention to critical factors like cost, speed and convenience offered by each.

2. Will you need to set up your own wallet?

It is highly advisable that you store your ZRX tokens in a separate and independent wallet from the one provided by the broker or exchange where you bought them. In-built web wallets offered by cryptocurrency exchanges are the most vulnerable and have faced hacks, thefts and exit scams in the past. However, there will be no requirement of a wallet if you use a CFD (Contract for Difference) via a recommended broker, to invest in 0x (ZRX). This is because no actual 0x (ZRX) tokens will exchange hands in this case.

3. Comparing costs

Another important aspect that cannot be neglected is the cost associated with the ZRX purchase. Although cryptocurrency payments generally work out to be cheaper than conventional alternatives, their transfers do have certain costs attached, which cannot be overlooked. 

The first and foremost is the blockchain processing fee that must be paid for every 0x (ZRX) transfer. ZRX being an ERC-20 token, there will be Ethereum Gas fee involved, rendering transfers of small quantities impractical. Secondly, you’ll need to cough up some transaction fee related to the payment option used. And lastly, the exchange or broker platform will have its own fees with respect to deposits, transactions and withdrawals. All these must be factored in beforehand. 

4. Safety and security

0x (ZRX) network has been constructed on the Ethereum blockchain and hence gains automatic protection against any consolidated attacks from the Ethereum node and miner network. Apart from that, its underlying smart contracts’ protocol is constantly audited by multiple third parties to keep any possible redundant functions, backdoors and vulnerabilities in check.

Apart from the inherent security provided by the 0x (ZRX) network, any ZRX trades you execute on cryptocurrency brokerage and exchange platforms are further secured using various types of cryptographic security protocols including 2FA (2-Factor Authentication).

5. Can you understand and navigate the platform?

Before you open an account and deposit any funds to a crypto exchange or broker site, please make sure that you comprehensively understand its workings, and are well-aware of the various features provided by it. In fact, many of these service providers offer demo accounts which can come in pretty handy to not just familiarise yourself with their workings, but also refresh your trading basics.

Ultimate Beginner’s Guide to Trading 0x (ZRX)


What is a 0x (ZRX) Broker?

Brokers are nothing but intermediaries that execute crypto trades for the investors. They are widely prevalent across the entire financial system, however, are particularly useful when it comes to cryptocurrencies, owing to the complex nature of this asset class. 

The 0x (ZRX) broker you choose will make use of a dealer network to complete its trades. Not only will it facilitate easy sale and purchase of ZRX tokens, but it will also allow you to bet on ZRX’s future price movements via derivative financial instruments such as CFDs, Options and Futures. 

What is a 0x (ZRX) CFD?

Counted amongst the most popular trading mechanisms available for cryptocurrencies, a CFD is an acronym for ‘Contract for Differences’. When you invest in 0x (ZRX) using a Contract for Difference, you’re able to speculate on its price changes, by taking long and short positions, based on the direction you expect the market to head into.

0x (ZRX) CFD trading can be particularly advantageous as it can allow you to exploit any market condition. For instance, just buying a good amount of ZRX tokens may not lead to any short-term profit, especially if the market is on its way down; but if you short 0x (ZRX) with the help of a CFD in such a scenario, you can potentially make some handsome profit for yourself. Likewise, you can also long 0x (ZRX) through CFD when the market is on its way up. Brokers also allow for the leverage option through which you can borrow money from them and significantly increase your exposure. Please remember, while leverage trading can substantially increase your profits, the losses can be huge too. 

What is the Benefit of 0x (ZRX) Regulation?

Cryptocurrencies having become commonly traded assets over the years, there have been notable moves by financial authorities across the world, for their regulation. The core purpose of cryptocurrency regulation is to protect the interests of traders and investors, and to make sure that the trading platforms are secure for all the parties involved. As a result, any broker or exchange platform which is regulated by a leading global authority, automatically gains a lot of credibility among crypto investors/traders.

What is the Best Payment Method for Buying 0x (ZRX)?

You can use multiple payment methods to buy ZRX in the market today, something which shows the constantly increasing popularity of 0x (ZRX) among investors. Nonetheless, the exact payment methods may vary depending upon the platform and location.

Buying ZRX with PayPal: PayPal has strongly emerged as one of the most preferred modes of payment over the past decade and is in fact well-integrated into the mainstream financial world today. PayPal payments involve a fairly reasonable fee, lesser than that of credit cards. Though it offers a lot of convenience when it comes to online payments, it’s not as ubiquitous as credit and debit cards, and may not be provided by all the brokerage and exchange platforms. 

Buying ZRX with credit or debit cards: Easily the most convenient means of buying ZRX online, credit and debit cards hold a slight disadvantage for the crypto trading platforms in the manner how cardholders can easily request chargebacks or raise disputes for any charges. Furthermore, the fee involved in credit/debit card transactions is higher than the majority of the payment methods. 

Buying ZRX through bank transfer: Bank transfers continue to be the most popular option amongst crypto buyers, especially because of their low fees. Using this method also makes it extremely easy to move funds back and forth between the bank account and the exchange/broker account. But these transfers can take a lot more time for processing, than other modes of payment.

Buying ZRX with cash: Keeping in mind that cash transactions normally involve no fee at all, cash would probably be the most attractive way to buy ZRX. The issue is that it’s almost impossible to buy ZRX this way! It would require you to enter into a private agreement with a person you know, making it a bit of a nonstarter right away.

The Verification Process for Trading 0x (ZRX)

Whenever you sign up with a regulated brokerage portal, you’ll have to mandatorily comply with a verification process followed by it. This process will normally entail uploading some type of address proof (utility bill) and a government-issued photo ID. As long as you have these documents available, it will be a painless and quick process. It’s important to mention here that such verifications are crucial to keep the bad actors away from these platforms and to safeguard the traders/investors’ interests. 

0x (ZRX): Long vs Short Term Investment

Whenever people talk about cryptocurrency investments, the instant thought that comes to their mind is that of rapidly fluctuating crypto prices, over short time periods. Resultantly, cryptocurrency has proven to be an excellent asset class amongst short-term traders. It’s quite like day trading any other commodity or equity, wherein people try predicting the troughs and peaks over a shorter time frame.

On the other hand, the long term investment approach requires holding onto the cryptocurrency for a considerably long time, usually six months or more, hoping for its market value to appreciate. For this approach, one needs to believe in the fundamentals of the token, and show a lot of patience amidst volatile market conditions.

While the short term approach can potentially deliver quick profits, it’s also riskier between the two. The long term approach gives you the actual ownership of the token and doesn’t require you to have any prior trading experience or knowledge, to benefit from it. Both can be profitable for the traders/investors who know what they are doing.

Why Buy 0x (ZRX) rather than Trade?

As explained above, buying 0x (ZRX) with a long-term perspective has its own perks, as you’ll simply need to buy ZRX cheap and then wait for the token’s price to surge. There’s no need of having much trading experience or learning complex analytical tools. However, to make the most of this strategy, you should have some reserve capital that you’re willing to set aside for the duration of the investment. Additionally, you should have the heart to brave through the crypto market’s upheavals, witnessed from time to time. Not to forget the need to set up crypto wallets to store your tokens, which can be a little complex for novice investors.

Trading on the other hand comes with the promise of instant profits (as well as possible losses). If you trade in actual 0x (ZRX) tokens, you’ll first need to locate a broker that’ll allow you to buy ZRX instantly and then sell them quickly without any hassles, at the right time. Alternatively, you can use derivative products like CFDs, offered by brokers, to bet on 0x (ZRX) future price, and make significant gains using the leverage option. This way, you’ll not need to bother about locating the cheapest way to buy ZRX. Additionally, brokerage portals charge fewer fees compared to exchange platforms, and can therefore give you the maximum bang for every buck. There will be no hassle of setting up a wallet too.

What Fees are Involved in Buying 0x (ZRX)?

Buying a cryptocurrency will inevitably involve some fee, which must be factored in to ascertain the net profit from the activity. Let’s acquaint you with some of the most commonly charged fees for ZRX transactions.

Transaction fees: ZRX being an ERC-20 coin will involve payment of some Ethereum Gas fee for its transfer. This fee can be minimised by making bulk purchases of the token. Apart from that, you’ll need to pay transaction fees associated with the payment method and the broker/exchange platform used to make the purchase. Brokers tend to keep this fee lower than that of exchanges.

Deposit fees: Although exchanges will invariably charge you some deposit fee for the funds uploaded to your account (with them), brokers normally avoid imposing any such fee, to make it easier for the traders to sign up with them. The deposit fee usually varies depending upon the payment option used.

Withdrawal fees: Though this fee is levied both in the case of crypto and fiat currency withdrawals, its extent may differ based on the exact payment mode and from platform to platform. Whilst most brokers keep their withdrawal fee under 3%, exchanges can charge anything up to 5%. 

Safely Storing Your 0x (ZRX)

Irrespective of whether you are buying ZRX with a long-term or short-term perspective, you will need to store your tokens in a cryptocurrency wallet, to safeguard them from unscrupulous elements and make them accessible as and when you need them. Below we will discuss some of the commonly-used crypto wallet types in the market today.

Web Wallet: These wallets are offered as a part of the service extended by the online exchanges and brokers. Though web wallets offer greater convenience, in the form of easy and quick accessibility, they have some inherent risks, for instance, the platform going bankrupt or getting hacked, something that has led to major losses for the investors in the past. Therefore, you must refrain from storing any coins in web wallets for the long term. 

Mobile Wallet: Designed specifically for use on mobile devices, many of these wallets also allow you to actively trade in cryptocurrencies too. They offer better security than their web counterparts, primarily because of multiple security layers built inside the new-age mobile devices. However, their regular internet connectivity makes them vulnerable to hackers. Exodus and Coinomi are a couple of popular web wallets among 0x (ZRX) investors. 

Desktop Wallet: These are software programs meant for desktop/laptop computers, and hence don’t offer the same level of convenience as their mobile equivalents. Some of the well-known desktop wallets for 0x (ZRX) include HolyTransaction and Atomic. 

Hardware Wallet: As they are constantly disconnected from the Internet, hardware wallets are believed to be the most secure of all the wallet types available in the market. They come as tiny USB-drive size physical devices and the only time you need to connect a hardware wallet to the internet is when you’d like to move your funds. Ledger and Trezor are the two frequently-used hardware wallets for ZRX storage.

Wallet Combinations: Few of the wallet variants detailed above have the option of linking them to other wallet types, to achieve higher security and easy accessibility for the crypto tokens. In the case of ZRX, you can link the Exodus mobile wallet with the Trezor hardware wallet, and keep a part of your 0x (ZRX) holding in the latter for long-term investment, and a small part in the former for hassle-free access.

What Other Coins Can I Trade or Use to Buy 0x (ZRX)?

Other than depositing fiat currency to an exchange or broker site, for purchase of 0x (ZRX), you can also buy 0x (ZRX) with Tether, Ethereum, Bitcoin, Ripple and other cryptocurrencies. Many exchange platforms may offer 0x (ZRX) as a part of trading pairs, with various well-known cryptocurrencies. All you need to do is find an exchange that offers a trading pair featuring a cryptocurrency of your choice. If it does, you can deposit the required number of crypto coins to the platform and exchange them with ZRX, based on the existing rate. 

What’s the Smallest and Largest Amount of 0x (ZRX) I Can Buy?

Even though some platforms may allow you to buy small amounts of ZRX, it may be impractical to go through with the purchase owing to the low price of the cryptocurrency. ZRX coin was well under a dollar at the time of writing this article.  With regard to how much ZRX can you buy, the upper limit will be determined primarily by the concerned platform and the local regulatory laws. Thus, always check these limits with the platform you’re planning to use, before making any deposit.

Almost all the regulated exchanges and broker services will require a photo ID for the purchase of ZRX. The core idea behind cryptocurrency was to offer an anonymous buying option to the people, and this is how the trading platforms were supposed to operate as well. In fact, in certain cases, it may be safe to buy ZRX anonymously too, as long as you’re sure about the platform and the person you’re transacting with. However, please remember, when it comes to such verifications, what you sacrifice in terms of anonymity, you gain greatly in the shape of enhanced security for your investments. In the end, if you wish to buy ZRX safely or would like to make a completely secure ZRX purchase, you must deal only with a regulated exchange or broker.

Will Buying 0x (ZRX) Make Me Money?

Anyone who is buying ZRX should keep in mind that their profit and losses will depend entirely on their crypto trading knowledge and skills. It will all boil down to how much clarity you have about the strategy you wish to use. If you’d like to know the best price to buy ZRX in the market today, or how much does it cost to buy ZRX right now, please visit the ZRX Price Page on our website, created specifically to provide all such updated information.

How to Spend your 0x (ZRX)

The primary use of ZRX tokens is to pay for use of ZRX blockchain’s resources. It’s also possible to stake one’s ZRX tokens to someone, to passively earn ETH liquidity rewards. ZRX is quite unlike other cryptocurrencies like Bitcoin, Litecoin or Tether which can be possibly used to pay for goods & services online, and in some cases offline too. 

How to Sell your 0x (ZRX)

The process of selling ZRX coins is quite simple. Ideally, you’d be better off using the same medium that you used to purchase the coins in the first place. If it was on an exchange or broker website, you will have to deposit ZRX tokens to the same portal and then place a ‘Sell’ order, to execute the trade. But in case you had used a Contract for Differences to invest in 0x (ZRX), the selling process will be relatively easier for you. All you’ll have to do is close the corresponding CFD with the broker platform and book the resulting profits or losses.

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Frequently Asked Questions

  1. The all-time high price of ZRX was $2.53 on Jan 09, 2018 and the all-time low was $0.10 on August 16, 2017.

  2. 0x (ZRX) was founded in 2016 by Amir Bandeali and Will Warren, who continue to be the platform’s CTO and CEO respectively.

  3. 0x (ZRX)’s uniqueness is because unlike other Ethereum-based decentralised exchange protocols, it offers support for both non-fungible (ERC-723) as well as fungible (ERC-20) tokens.

  4. There were a total of 841,675,022 ZRX tokens in circulation at the time of writing this article (May 2021). The maximum possible supply of ZRX is set to 1 billion tokens.

  5. Yes. 0x (ZRX) protocol is actively used by some of the well-known platforms like MetaMask, Matcha, Radar Relay, DeFi Saver, Augur, Tokenlon and more.

  6. A regulated broker service is more secure than any unregulated crypto exchange, for the purpose of trading/buying ZRX tokens.

  7. All regulated brokers are required to enrol into investor compensation schemes, per which you’ll be adequately compensated for any losses arising from their bankruptcy.

  8. As 0x (ZRX) network uses the Ethereum blockchain, it benefits from all the inherent security features of Ethereum. Besides that, its smart contracts’ protocol is regularly audited by various third parties to keep a check on any possible backdoors, vulnerabilities and redundant functions.

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