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How to Buy Zilliqa (ZIL) in 3 Simple Steps

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Zilliqa (ZIL)
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Author: Alice Leetham Updated: September 5, 2022

Zilliqa aims to facilitate powerful and user-friendly decentralised applications (dApps) with its sustainable, low-cost, and scalable blockchain. This guide will take you through how to buy Zilliqa (ZIL) and what innovations the project offers.

How to Buy Zilliqa

If you’re looking for a simple way to buy Zilliqa, all you need to do is sign up with a crypto exchange. You can access it online with a computer, smartphone, or tablet to quickly buy and sell Zilliqa and a range of other cryptocurrencies. The best platforms are listed below as well as a quick step-by-step guide on purchasing Zilliqa.

1. Choose a platform

Your journey toward buying ZIL will begin with selecting a platform. Some things to consider when making your choice include what fees are charged and how easy the cryptocurrency exchange platform is to use. You can read the section on platforms later in this guide, or get started immediately with our top recommended platforms.

1
Min. Deposit
$1
Promotion
User Score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Payment Methods
Credit Card, Debit Card, PayPal, Payeer, SEPA, Western Union, Wire Transfer, Yandex Money
Full regulations list:
2
Min. Deposit
-
Promotion
User Score
9.3
Sign Up Bonuses
App Available
Supports Multiple Altcoins
Start Trading
Description:
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.
Payment Methods
Full regulations list:
3
Min. Deposit
$30
Promotion
User Score
8.7
Accepts 70+ cryptocurrencies
Majority of cryptocurrencies are held in a secure Cold Storage
Buy cryptocurrencies instantly with your credit card
Start Trading
Description:
CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.
Payment Methods
Full regulations list:

2. Create and fund your account 

Click “Register” or “Create an account” to get the ball rolling by filling in your name and contact details. You may also have to complete the KYC process by providing a photo ID before your account can be verified. Once that is done, go to the deposit page and choose one of the accepted payment options to fund your account.

3. Buy Zilliqa

Navigate to the relevant trading pair—this will be ZIL/USD if you just deposited US dollars or ZIL/GBP if you just deposited British pounds—and create a buy order. You can make it a limit order if you want to specify a future price at which you purchase Zilliqa (ZIL) for you automatically. Alternatively, create a market order to buy ZIL immediately at the current price.

Buy Zilliqa Today!

What Is Zilliqa?

Zilliqa is a low-cost, scalable, and developer-friendly blockchain for building decentralised applications (dApps)—apps that run on the blockchain. The project aims to enable dApps that are user-friendly and secure, providing access to decentralised finance (DeFi) services and non-fungible tokens (NFTs).

Ethereum also provides these services, but its design means that transactions become slow and expensive when lots of people use the network at once. Zilliqa tackles this issue with an innovation known as “sharding”, which involves splitting the network into pieces so that more transactions can be processed at the same time.

This makes Zilliqa capable of scaling to facilitate large-scale enterprise use in sectors such as finance, gaming, advertising, and entertainment. In fact, Zilliqa aims to rival global payment networks such as Visa.

Zilliqa is powered by its native token, ZIL, which enables holders to engage with all Zilliqa-based dApps and services. ZIL can also be used to buy products and NFTs, and secure the network through staking.

Ways to Invest in Zilliqa

Whatever your skills and investment goals, ZIL may be a suitable purchase as it can be bought for either the long term or short term. We’ll look at the benefits of each below.

Buy and Hold Zilliqa

This is the simplest strategy you can find—it just involves buying ZIL and keeping hold of it for a while. It doesn’t matter if you don’t have any analysis skills; it takes minimal time and effort to potentially profit from this strategy.

The good thing about holding ZIL for the long term is that you have the opportunity to generate a passive income in the meantime. If you stake your ZIL, you will be rewarded with more tokens.

Best Zilliqa Wallets

Long-term holders often decide to self-custody their tokens in a private wallet for a bit of extra security. This also means that you don’t have to rely on a centralised service for access to your tokens.

For those who are happy to pay for the best security, hardware wallets like Trezor, BitBox, and Ledger may be the best choice. Software wallets provide a free and user-friendly alternative that can be downloaded to your computer or mobile device.

Trade Zilliqa

Like the rest of the cryptocurrency market, the price of ZIL is liable to experience significant volatility. This has the benefit of enabling traders to generate frequent profits by buying and selling ZIL much more often than investors. For more information on price predictions, read our Zilliqa price prediction here. 

As making regular token transfers between a private wallet and an exchange can be time-consuming and costly, many traders prefer to use web wallets. These are less secure but more convenient and each exchange tends to provide one for free.

Should I Buy Zilliqa Now?

Only you can make this decision when it comes to investing your own money, but make sure to do the necessary research first. The maximum supply of ZIL is limited, which has the potential to make it a good store of value in the long term.

The staking rewards Zilliqa offers create demand for the token from those wishing to stake, while more tokens being staked results in less supply available on the market. These factors could prove to be positive for ZIL’s price.

There is also demand for ZIL from users of the Zilliqa network, as it is used to pay transaction fees, access dApps, and purchase products and NFTs. As more dApps and users join the network, this demand should increase, which could boost the value of ZIL.

Zilliqa’s innovative sharding technology means that it is capable of scaling to meet the needs of a growing number of users. If Zilliqa achieves its goals of serving large-scale enterprises and rivaling global payments networks, the project and its native token could become very valuable in the future.

Frequently Asked Questions

  1. Typically, blockchain transaction fees on Zilliqa are 0.1 ZIL. This makes them 227 times lower than those for Ethereum.
  2. ZIL fees are kept to pay out mining fees in the future. When all the ZIL has been mined, miners will be paid with transaction fees instead of newly issued tokens.
  3. Choose a wallet to keep your ZIL in. Moonlet and Atomic Wallet will let you stake your ZIL directly. Otherwise, you will have to connect your wallet to the Zillion portal and select a seed node operator to stake with. You can find out more at https://www.zilliqa.com/staking
  4. The minimum amount you can stake is 10 ZIL. This ensures you have more than enough gas to withdraw your rewards, which costs roughly 3-6 ZIL.
  5. Governance ZIL, or gZIL, is the governance token of the Zilliqa network. It can be purchased from some exchanges and is used to vote on Zilliqa Improvement Proposals (ZIPs).

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