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How to Buy 0x | Ultimate Guide To Buy ZRX

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0x is a decentralised exchange and it also features its own cryptocurrency project. 0x is based on a protocol which enables developers to build their own cryptocurrency exchanges; a novel concept even within the innovative cryptocurrency sphere. The coin became very popular with both amateurs and experienced crypto investors especially during the recent crypto bull run. We’ve created this guide to help our readers invest and trade in this cryptocurrency. 

The ZRX token associated with 0x has also become very popular recently, so in this article we will be discussing all of the issues related to trading 0x (ZRX) online in 2021. 

5 Steps to Buy 0X with eToro Now

Buying any cryptocurrency with eToro is easy, simply follow the steps below:

  1. 1
    Sign up for free with eToro, entering your details in the required fields.
  2. 2
    Fill out the questionnaire, this is both educational for you and eToro.
  3. 3
    Click 'Deposit', you'll then be asked how you want to fund your account.
  4. 4
    Choose your required payment method, follow the simple steps to link your payment.
  5. 5
    Enter the amount you want to deposit and you're good to go!

How to Buy 0x (ZRX) with a Broker

Purchasing 0x (ZRX) with a broker can be considered the most straightforward way of investing in the cryptocurrency, as it enables all trades to be conducted by an experienced and credentialed individual. This reduces the attention that you need to pay to the market, and obviates the need for beginners to participate in what can sometimes be complicated processes.

However, before committing to a particular broker, researching the market should be considered essential. There are many factors that can vary between the brokerage platforms available, and this can make a real difference to your trading activity.

Central to this would be the fees and security factors that differentiate significantly between platforms. Regulation of the crypto space has also evolved significantly in recent years, and this means that your broker must be fully conversant with all of the latest regulations and legislation.

You can also pass orders to your broker, in the form of stop orders and other important information. This can help shape your trading strategy, without requiring you to play the hands-on role that is a necessity in normal trading strategies.

1. Register with the Broker

Registering with brokers is an important part of the process of trading 0x (ZRX), or indeed any cryptocurrency. Before you can inform a broker to trade on your behalf, you must sign up with the platform in question. This requires you to confirm your identity, which is achieved via government documentation and proof of address.

Differences in the registration process are also apparent, depending on the platform chosen. For example, Plus500 has a strong social media platform emphasis, while eToro relies on an account name and password system. 

2. Verify your Identity (KYC Process)

One aspect of the registration for cryptocurrency that is becoming more common is the ‘Know Your Customer’ (KYC) process. This has been used by banks and other financial institutions for several years and is now lending credibility to the crypto space as well.

This is an official legislative process that tightens up the way that registration and confirmation of identity works with cryptos. It is therefore expected to help encourage tokens such as 0x (ZRX) to be more widely adopted. Nonetheless, it shouldn't be too prohibitive for investors when they sign up for 0x (ZRX), or other tokens.

3. Deposit Funds with your Preferred Payment Method

The next step in trading 0x (ZRX) is to deposit via a preferred payment method. Before doing this, you should check which forms of payment are available with the platform that you have chosen. While most should be supported, this isn't necessarily inevitable.

Speed and fees should also be taken into consideration, as these can differ quite significantly from one platform to another. You should also beef up your security, ensuring that excellent firewall and antivirus software is in place before any deposits are made online.

Checking with customer service can be advisable, in order to ensure that your deposit has been completed correctly. While most funding mechanisms are intuitive today, it's always best to double-check that everything has proceeded adequately.

4. Open a Position to Long/Short 0x (ZRX)

One of the many options that you have with cryptocurrency trading is to open a short or long position. These are fundamentally opposing, and reflect the ethos and beliefs of the individual trader.

If you choose to take a long position on 0x (ZRX), it means that you will benefit if the cryptocurrency increases in value. Essentially, you believe that the fundamentals that underpin the project are sound and that the price of 0x (ZRX) will inflate in the foreseeable future.

Conversely, taking a short position, short selling, or just selling 0x (ZRX) means that you think the cryptocurrency will decline in value. If you are correct in this assertion, you will make a profit, while if 0x (ZRX) increases in value when you have short sold the token, you will lose some of your investment.

If you wish to enter a short position on 0x (ZRX), or indeed any other cryptocurrency, CFD contracts need to be opened in order to benefit from price discovery. One of the major advantages of CFD contracts is that they allow leverage, effectively enabling traders to speculate with debt. This is somewhat risky, whereas it can be asserted that purchasing 0x (ZRX) is a more appropriate approach for beginners.

There are many other possibilities and considerations with trading as well, with stop loss, market and limit orders able to transmit instructions to brokers. These effectively convey the intentions of an investor in the market and force the broker to execute certain market positions when the price of 0x (ZRX) reaches certain points.

This can help guide your trading process, while still enabling the broker to make trades on your behalf. It increases the interactivity associated with 0x (ZRX) trading, while still enabling brokers to execute the majority of the trading process.

5. Close your Position

Closing a position in 0x (ZRX) is clearly a major part of the overall process, and this can be achieved automatically by using a stop-loss order. A stop-loss order transmits to your broker that you wish to close your position at a certain time, naturally when it is advantageous in terms of market conditions.

This would usually occur when traders have reached a certain profit target, but it could also be implemented when losses have been made, and an investor wishes to cease their trading process.

How to Buy 0x (ZRX) with an Exchange

Purchasing 0x (ZRX) via an exchange is hugely popular, and the obvious way that you can benefit from price discovery in the token. This is becoming increasingly user-friendly, with platforms for trading 0x (ZRX) having been constructed with beginners in mind. They are therefore extremely intuitive, and even those who have never traded cryptocurrency usually find them perfectly acceptable in terms of functionality.

Nonetheless, it is important to choose a cryptocurrency exchange diligently, as they all feature different qualities and characteristics. Fees and security are always an important part of the equation, particularly as these tend to differ significantly between platforms. Regulation and encryption are another important part of the process, and clarifying all of these issues before committing is certainly recommended.

1. Set up an 0x (ZRX) Wallet

Setting up an 0x (ZRX) wallet is certainly advisable for those who intend to trade over a significant period of time. But before you enter into this process, you need to understand that there are several different types of cryptocurrency wallet available, each with its own qualities and drawbacks. Above all else, investors can choose between hardware and software wallets, with both sides attracting a significant number of cryptocurrency investors.

Software wallets are popular because they are flexible, enabling investors to use them online, via desktop, or via mobile platforms. Based on computer software, they are favoured due to the optimum control that they offer users. Conversely, hardware wallets are a bit more unwieldy, but the cold storage technology associated with hardware wallets is considered to be more secure. Nonetheless, users of hardware wallets must store all of their private keys on separate hardware devices, and ensure that they are kept away from hackers and other fraudsters.

2. Choose and Join an Exchange that sells 0x (ZRX)

There are a wide variety of cryptocurrency exchanges available, and some of the most popular on the Internet include the following:

There are usually a few differences between the various exchanges, with each platform likely to have a different fee structure. User interfaces could also be significantly different, with security provisions also contrasting from one platform to another. You can also expect differences in the currencies and payment methods accepted, while registration and licensing aren’t uniform. 

Thus, researching all of the particular qualities and characteristics of platforms that you wish to use is certainly advisable before beginning the trading process.

3. Choose Your Payment Methods to Buy 0x (ZRX)

There are several different payment methods available for 0x, and each of these have their own advantages and disadvantages.

Debit cards - Debit cards are probably the most readily available way to purchase 0x (ZRX), but still benefit from some of the payment protections associated with credit cards.

Credit cards - Credit cards are fast and secure, but tend to attract fees. Nonetheless, they are hugely popular in the cryptocurrency sphere.

PayPal - This digital payment system has become hugely popular in recent years, but there are drawbacks to it as well. PayPal may not be accepted by all vendors, while there can be delays and fees associated with the medium. However, PayPal is available widely, with many unbanked people benefiting from the digital payment system.

Bitcoin - It is also often possible to purchase 0x via the market-leading cryptocurrency, although this is less flexible than other options available.

4. Place an Order to Buy 0x (ZRX)

Buying 0x involves the following steps:

Firstly, you must register for a cryptocurrency exchange or broker. It isn't necessary to confirm your identity, before registering your chosen payment method on the website.

Once this has been achieved, you can then deposit money, and identify the investment that you are interested in.

Finally, after you have purchased 0x (ZRX), you should store the token securely in your wallet solution, which will ideally be a cold hardware storage method. At this stage, you should also contact your brokers, if indeed you have decided to opt for a brokerage.

5. Safely Storing Your 0x (ZRX) in a Wallet

Storing 0x (ZRX) safely in a wallet solution is not necessarily complicated, but it is vital if you intend to hold on to your tokens for a significant period of time. Investors with a longer-term strategy will necessarily need to go through this method.

Wallet solutions typically use private keys, and it is incumbent on the individual trader to keep this private key secure. But provided that this is achieved, the private key system ensures that all funds can never be accessed by outsiders.

Should you Buy or Trade 0x (ZRX)?

Buying or trading 0x (ZRX)  is dependent on your particular needs and beliefs as a trader. Using a professional broker is usually advisable for those beginning their 0x trading journey, but this doesn't obviate the need for some market knowledge. 

Another option for those beginning cryptocurrency trading is to simply utilise a buy and hold strategy, which doesn't require a huge amount of market knowledge or indeed close monitoring of market conditions. Again, this marks this strategy out as being ideal for beginners.

On the other hand, trading 0x (ZRX) offers many more options to investors. One of the most obvious advantages of trading is that investors can profit regardless of whether 0x (ZRX) is in a bull or bear market. This allows considerably more flexibility.

What’s the Difference Between a 0x (ZRX) Exchange and a Broker?

0x exchanges are platforms that enable users to make trades, somewhat similar to online shopping retail outlets. Conversely, brokers act as intermediaries for investors, executing trades on their behalf.

But there are other differences as well. Brokers tend to attract higher fees, as they are offering an additional service. But exchanges are more flexible, and offer instant market access. This is especially true in the mobile era, with a large number of exchange solutions being available on mobile platforms, enabling investors to trade on the go.

However, brokers tend to make it more feasible to operate CFD agreements, and these bring flexibility to the trading process, as well as significantly increased leveraging. This can increase profits, but is also riskier, meaning that it tends to be better suited to more advanced and experienced investors.

0x (ZRX): Long Vs Short Term Investment

Another major consideration with 0x (ZRX) is whether to enter into a long-term or short-term investment strategy. Any long-term investment is intended to benefit from the tokens achieving price discovery over a significant period of time. While a short-term strategy can be associated with trading, which definitely has a more intense focus.

The advantage of a long-term approach is that it is based on market fundamentals, and is therefore significantly less risky. Short-term trading is more volatile, and requires considerably more market knowledge. However, you can make profit in a much shorter time period with trading, if investments are engaged in shrewdly. 

Leveraging also tends to be more readily available with short-term investment, and this can lead to bigger profits. But purchasing 0x (ZRX) means holding a physical asset, which can then be used for other purposes rather than merely trading.

3 Tips to Buy 0x (ZRX)

In this section, we will provide you with three important tips for buying 0x (ZRX).

1. Choose the Right Time and Do Your Own Research on 0x (ZRX)

You must time your purchase of 0x (ZRX) diligently, as the token will behave completely differently in bull and bear markets. TIming is vitally important in the crypto space, as the market is acknowledged to be somewhat more volatile than some other markets. This means that you need to be aware of developments in the crypto space, and any related issues, particularly those that are newsworthy.

2. Comparing Costs to Buy 0x (ZRX)

Different platforms have different fee schedules for purchasing 0x, so comparing these can be considered essential. This is especially true as fees paid can have a significant impact on your profitability in the market, particularly if you’re operating a narrow margin strategy. Costs are usually available transparently, though, so comparing them shouldn’t require you much time.

3. Safety and Security when Buying 0x (ZRX)

Safety and security is important in the crypto niche, so you should check out important aspects of platforms such as customising user profiles and cold storage. While cryptocurrencies are no less safe than any other investment, there can still be issues with theft if you do not take security seriously. Thankfully, technology has been developed which ensures that it is impossible to steal your tokens, but you must familiarise yourself with these innovations.

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

Buy 0x (ZRX) with Cash: Very few 0x transactions take place with cash, but you could encounter a willing trader offline.

Buy 0x (ZRX) with Credit Card: Credit cards remain the most popular methods of purchasing 0x and cryptocurrencies in general, due to security and other features.

Buy 0x with Bank Transfer: Bank transfers are widely available, and this is a popular payment method.

Buy 0x (ZRX) with Bitcoin: You can transfer Bitcoin for 0x (ZRX) payments, this is a perfectly valid way of acquiring the token.

Buy 0x (ZRX) with PayPal: The digital payment system PayPal is another valid purchase method, although it is not necessarily accepted by every broker and exchange.

Other Ways to Buy 0x (ZRX)

Aside from the methods discussed in this article, you could also mine 0x (ZRX), or purchase the token via a P2P exchange. Another option is to choose master nodes, while staking is also possible Finally, 0x (ZRX) ATMs will probably begin to appear in the foreseeable future, although the token isn't big enough to have attracted this purchase method at the time of writing.

Nonetheless, 0x (ZRX) is an exciting project and offers huge flexibility to fans of cryptocurrency. It promises to pave the way to many exciting platforms and exchange solutions in the future and could become one of the most prominent tokens around as per some experts.

Frequently Asked Questions

  1. 0x is an open protocol, utility token that is used alongside the 0x platform. 0x (ZRX) was strongly influenced by Ethereum, and 0x (ZRX) tokens can be used to vote on updates to the customer protocol. 0x provides the infrastructure for developers to build their own custom trading apps with a wide variety of user-facing applications.

  2. 0x (ZRX) is arguably the most decentralised of all cryptocurrency products, with its intention to enable community contributors to develop their own exchanges. This vastly differs from most cryptocurrency tokens available, which rely on largely centralised exchanges, such as Binance and Coinbase.

  3. 0x (ZRX) is hosted on the Ethereum blockchain, although the project is far more diverse than other cryptocurrency solutions.

  4. There is a withdrawal minimum of 0.001 and a maximum of 375,000 to 0x (ZRX) to an external address.

  5. 0x (ZRX) completed its initial coin offering (ICO) on July 16, 2017 and raised $24 million in ether–the cryptocurrency of the Ethereum network–from a group of 12,000 backers.

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