How To Buy 0x (ZRX)?
A common question you often see on social media from crypto beginners is “Where can I buy 0x?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy 0x on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.
Step 1: Create an account on an exchange that supports 0x (ZRX)
First, you will need to open an account on a cryptocurrency exchange that supports 0x (ZRX).
We recommend the following based on functionality, reputation, security, support and fees:
1
Binance
Fees (Maker/Taker) 0.075%*-0.1%*
Cryptocurrencies
Available for Trade 500+
Sign-up bonus
10% reduced trading fees*
Available in
Europe, Asia, Oceania, Africa
2
MEXC
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1500+
Sign-up bonus
10% reduced trading fees & up to $170 in USDT vouchers*
Available in
North America, South America, Europe, Asia, Oceania, Africa
3
Coinbase
Fees (Maker/Taker) 1.49%*-3.99%*
Cryptocurrencies
Available for Trade 150+
Sign-up bonus
$10 sign-up bonus*
Available in
North America, South America, Europe, Asia, Oceania, Africa
In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
Step 2: Deposit funds into your account
Many cryptocurrency exchanges will allow you to purchase 0x (ZRX) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
Step 3: Buy 0x (ZRX)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for 0x (ZRX) or 0x (ZRX) trading pairs. Look for the section that will allow you to buy 0x (ZRX), and enter the amount of the cryptocurrency that you want to spend for 0x (ZRX) or the amount of fiat currency that you want to spend towards buying 0x (ZRX). The exchange will then calculate the equivalent amount of 0x (ZRX) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of 0x (ZRX) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.
How to create a Binance account
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Step 1: Go to the Binance website.
Step 2: On the registration page, enter your email address, and create a password for your account.
Then, read and agree to the Terms of Service and click “Create Account”.
Note: Your password must be a combination of numbers and letters.
It should contain at least 8 characters, one UPPER CASE letter, and one number.
Step 3: Complete the Security Verification.
Step 4: The system will send a verification code to your email. The verification code is valid for 30 minutes. If you can’t find the email in your inbox, check your other mail folders as well, or click “Resend Email” to resend.
How to complete KYC (ID Verification) on Binance
Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
Step 2: click “Start Now” to verify your account.
Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.
Step 5: Enter your personal information and click “Continue.”
You won’t be able to change it once confirmed.
Refer to the respective options offered for your country.
Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
Once your application has been verified, you will receive an email notification.
How to buy cryptocurrency on Binance
Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”.
Step 2: Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. When you have selected the amount you wish to spend then press “Continue”.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.
Step 4: Check the payment details and confirm your order within 1 minute. After 1 minute, the price and the amount of crypto you will get will be recalculated. You can click “Refresh” to see the latest market price. You will then be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.
How to Conduct Spot Trading on Binance
Step 1: Log in to your Binance account.
Click on “Classic” under “Trade” on the top navigation bar.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can place a “Market Order” to set the buying/selling price automatically.
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How to create a Gate.io account
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Step 1: Go to the Gate.io website.
Step 2: Choose your username, your email address and your password. Then check “I certify that I am 18 years of age or older, and I agree to the Gate.io User Agreement Privacy Policy” and click “NEXT”.
Step 3: Set your fund password and click “Create account”.
Note: Your fund password must contain at least 6 characters and can not be the same as your login password.
Step 4: An activation email will be sent to your email address. Complete the rest of the registration process by following the instructions in the email to activate your account. Once this is done done, click “Email activated, please log in”.
How to complete KYC (ID Verification) on Gate.io
In order to ensure the safety of your assets, and to reduce fraud, money laundering, blackmail, and other illegal activities, Gate.io makes it mandatory that all users obtain KYC ID Verification. Only after your account has obtained KYC ID verification, can you withdraw funds or use credit cards or debit cards to buy cryptocurrencies.
Step 1: Log in to your Gate.io account.
Place your cursor on the top-right profile icon and go to “KYC (ID Verification)”
Step 2: Click “Individual (Verify now)”
Step 3: Select your country, input your full legal name (twice), fill in your ID information, upload photos of both sides of your ID card, and a photo of you holding your ID together with your User ID (UID) for Gate.io. You will see your User ID by placing the cursor on the top-right profile icon on the main page. Make sure everything is filled in correctly and then click on “Confirm and Submit”.
Step 4: After you have submitted all the requested information, you will see the pending approval.
Approval can take anywhere from a few hours to a few days to complete.
Once the KYC is approved, you’re ready to make your first cryptocurrency purchase.
How to buy cryptocurrency on Gate.io
Step 1: Log in to your Gate.io account.
Then in the Menu Bar at the top of the page, click “Buy Crypto” and select “Credit Card”.
Step 2: Enter the amount you wish to spend in the “Buy with Fiat Currency” tab and select the cryptocurrency that you want to buy under the “Currency Purchased” field. Then select one of the “Service Providers” below and click the “Place Order” button to enter the confirmation page.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: On the confirmation page, select “Buy Crypto” or the “Create Order” button to complete the payment.
Note: To ensure a quick and secure way of receiving the order, users might need to conduct an additional Identity Verification (KYC) with a third-party service provider. Once successfully verified, the service provider will immediately transfer the cryptocurrencies to your Gate.io account.
How to Conduct Spot Trading on Gate.io
Step 1: Log in to your Gate.io account.
Click on “Spot Trading” under “Trade” on the top navigation bar.
You can either choose “standard” or “professional” version. This tutorial uses the standard version.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can click on the last prices on the order book to set the buying/selling price automatically.
Step 5: Confirm the price and amount. Then click on “Place Order” to place the order, followed by “Confirm Order” to confirm it.
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For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.
Simplecryptoguide.com
What Is 0x (ZRX)?
0x is an infrastructure protocol that allows users to easily trade ERC-20 tokens and other assets on the Ethereum blockchain without relying on centralized intermediaries like traditional cryptocurrency exchanges.
0x achieves this decentralized exchange functionality using a collection of open-source, publicly auditable smart contracts that work together to produce a flexible, low-friction trading protocol that developers can easily weave into their products.
The protocol is powered by an ERC-20 utility token known as ZRX. Nodes that (also known as relayers) host an off-chain order book and offer user-facing applications that present this information and allow users to make, fill and cancel transactions are paid in ZRX tokens (as trading fees). ZRX can also be used to participate in platform governance, helping holders suggest and vote on changes to the protocol.
In 2019, 0x announced an overhaul of the ZRX token, adding extra functionality, allowing ZRX holders to delegate their stake to a market maker to earn passive rewards while retaining their voting capacity.
How Does 0x Work?
0x supports DEX functionality by leveraging a collection of open source and publicly auditable smart contracts. These smart contracts work together to form a flexible, low-friction trading protocol that developers can easily weave into their products. The code for executing token swapping is openly shared on the 0x homepage; exchange makers need only copy it over and paste it into their platform.
The protocol is powered by an ERC-20 utility token called ZRX. Nodes (also known as relayers) host an off-chain order book and offer user-facing applications that present this information and enable users to make, fill and cancel transactions that are paid in ZRX tokens (as trading fees).
Decentralized exchanges
To further understand the 0x protocol, it is useful first to review the fundamentals of a decentralized exchange, or DEX. Centralized exchanges act as trusted intermediaries that facilitate the trading of different crypto assets and often act as custodians by storing and protecting your funds. In contrast, DEXs eliminate the custodial middleman and instead facilitate the P2P exchange of crypto assets, often offering unique assets that may not be available on centralized exchanges. DEXs utilize secure smart contracts to match and complete trades between peers and do not act as custodians.
DEXs often face challenges concerning usage and liquidity. 0x addresses these issues by offering a flexible DEX architecture, comprehensive developer documentation and tools, an easy to integrate 0x API, and networked crypto liquidity pools (both from native 0x sources, as well as from other exchange networks) accessible via 0x Mesh, a fully decentralized P2P global order book that functions independently from the Ethereum blockchain.
Some platforms that utilize the 0x protocol include Matcha, Tokenlon, MetaMask, Augur, DeFi Saver, Radar Relay, and more.
What Distinguishes 0x From Other DeFi Projects?
There is a growing number of duplicate projects in the world of DeFi that struggle to differentiate themselves from their competitors. 0x has attempted to set itself apart by focusing on the tools that it judges to be most important for the development of the ecosystem more broadly.
The team has attempted to make it easier for developers to build their own DEXs and to help users to execute more efficient and accurate trades by providing a tool for liquidity aggregation. 0x has also created a feature called Matcha, which serves as a search engine for trading on all DEXs simultaneously – akin in its functionality to Expedia or Kayak. By aggregating all DEXs in this way, 0x aims to simplify the trading process for those faced with so many DEX options.
Another thing that distinguishes 0x from other Ethereum-based DEX protocols is that 0x supports both fungible (ERC-20) and non-fungible (ERC-723) tokens. This allows for permissionless trading across a wide range of assets, enabling holders to buy, sell and exchange the vast majority of Ethereum assets via over a dozen different apps.
The 0x protocol can be applied in a wide range of contexts, including Shopify-style marketplaces for digital goods and services, over-the-counter (OTC) trading desks and DeFi protocols and DEXs.
Although 0x can be used to build highly flexible DEX products, it can also be integrated into products in which token exchange is a secondary feature, e.g. for portfolio management platforms or in-game purchases for online games.
On the 0x protocol, exchange fees are paid using native ZRX tokens. These fees are used to incentivize market maker (relayer) liquidity. Users also need to pay a protocol fee denominated in Ether, which is used to pay for the gas used in any transactions they complete. As an open source protocol, 0x does not receive any share of this revenue and is instead supported by the ZRX tokens that are unlocked for team and developer incentives, in addition to its initial ICO funding.
What Is the ZRX Token?
ZRX is the native token of the 0x platform. ZRX token holders have the power to vote on any proposals that the 0x team puts forward as it continues to develop the network. Each token acts as a vote, which serves as an incentive for users to hold more 0x in their wallets. During voting, all ZRX tokens are locked while the results are decided. This ensures that all voters will be directly affected by any changes that are implemented (preventing sabotage). Users can also stake ZRX in liquidity pools in order to earn rewards on their holdings.
Who Are the Founders of 0x?
0x was founded in 2016 by Will Warren and Amir Bandeali. The two co-founders continue to serve the platform, with Will Warren as 0x’s CEO, whereas Amir Bandeali is CTO.
The platform launched following a successful initial coin offering (ICO) in 2017, during which it raised a total of $24 million — with support from prominent investment firms including Polychain Capital, Pantera Capital and FBG Capital.
Prior to the sell-out ICO, Warren worked in several research roles and briefly held the role of technical advisor to Basic Attention Token (BAT). Bandeali, on the other hand, graduated from the University of Illinois with a BSc in Finance and held several trading positions before co-founding 0x.
Now the team is composed of more than 30 individuals, including engineers, researchers and designers who work to update the platform and keep it running smoothly.
Official website: https://0x.org/
Best cryptocurrency wallet for 0x (ZRX)
There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for 0x (ZRX)?
Deciding which type of wallet to use depends on a variety of factors, including:
- How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades.
- What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
- Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
- How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
- What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.
For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.
If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.
Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).
Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).
Market Overview
Coinmarketcap.com
Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:
Market Capitalization And Daily Trading Volume
Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)
Circulating And Total Supply
Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).
