how to buy zilliqa

Zilliqa (ZIL) is a fast and reliable blockchain capable of reaching thousands of transactions per second. Many DApp (decentralized app) developers rely on Zilliqa because of the platform’s cutting-edge efficiency. On social media, many beginners have started asking questions like “how to buy Zilliqa (ZIL)” and “where to buy Zilliqa.”

Do you want to buy ZIL and be part of the Zilliqa ecosystem? In that case, you should read this article thoroughly. We’ll cover the fundamental steps of buying ZIL, as well as some essential topics about the token.

Zilliqa (ZIL) Buying Guide

Step 1: Find An Exchange That Supports ZIL

To start buying ZIL, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support ZIL.

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

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  • Available in North America, South America, Europe, Asia, Oceania, Africa

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying ZIL, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy ZIL Officially?

Learning how to buy ZIL is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the ZIL ticker. You can also look directly for ZIL trading pairs to save time. Afterwards, just enter the amount of the ZIL tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About Zilliqa (ZIL)

Zilliqa is an efficient permissionless blockchain platform designed for making different kinds of DApps and programs. The Zilliqa platform also offers low-cost solutions through blockchain sharding and other deep technical functions.

These are the main features of Zilliqa:

  • Secured cryptographic layer
  • Fast Proof-of-Work consensus protocol
  • Network-driven scalability
  • Dynamic smart contracts for developers and project builders
  • Seamless staking
  • NFT solutions and marketplace options
  • Thriving, collaborative community

Currently, the Zilliqa ecosystem is fueled by hundreds of connected DApps. These DApps are related to various sectors like DeFi liquidity, asset security, blockchain gaming, wallet management, yield farming, NFT creation, and cryptocurrency asset swapping.

How Does Zilliqa Work?

ZIL, the native token of Zilliqa, can be used for staking and service payments. By staking ZIL, you will receive token rewards over time. If you’re a blockchain creator or a developer, you can use ZIL to cover transaction fees of smart contracts. As the platform grows, ZIL will gain more utilization options and purposes.

What Makes Zilliqa (ZIL) Unique?

Zilliqa is the first blockchain integrated with a full sharding mechanism. This functionality allows a high throughput rate, ensuring limitless scalability for hundreds of DApps. Since each shard in Zilliqa can handle multiple transactions per second, the platform will become faster as it gets bigger over time.

Zilliqa also has a fast block recording mechanism that guarantees remarkable finality for all transactions. Once you’ve used Zilliqa for a specific service, you don’t have to wait for more than a minute to get the transaction result.

When it comes to big goals, Zilliqa doesn’t lag behind. The blockchain aims to be a reliable large-scale enterprise service provider despite the competition. Zilliqa aims to expand on important sectors like advertising, entertainment, payments, and general financial systems.

Who Are the Founders of Zilliqa (ZIL)?

The founder of Zilliqa is Prateek Saxena – an assistant professor at the National University of Singapore School of Computing. With the help of some students, Saxena managed to publish a paper related to the importance of having a sharding-focused blockchain. From there, Saxena worked hard on implementing the sharding mechanisms into the structural framework of Zilliqa.

What Are the Use Cases of Zilliqa (ZIL)?

Zilliqa has different use cases related to decentralized app creation, daily transactions, blockchain management, and large-scale enterprise services. Understanding ZIL’s use cases will help you determine if the token is aligned with your risk appetite and preferences.

Here are the common use cases of ZIL:

  • Speculative trading
  • Staking for rewards
  • Liquidity farming
  • Rewarding system
  • Payments for services
  • Asset exchange

Who Builds on Zilliqa (ZIL)?

Zilliqa (ZIL) is a fast, low-cost, and reliable blockchain powered by dynamic sharding mechanisms. Developers and project builders can rely on Zilliqa to build and scale their apps within a short frame of time. Zilliqa members, on the other hand, can use ZIL to pay for various services and goods.

Official website: https://www.zilliqa.com/

Essential Points of the Zilliqa (ZIL) Whitepaper

The Zilliqa Whitepaper explained the architectural framework and operating mechanisms of the Zilliqa platform. Plus, the paper also highlighted the technical layers of Zilliqa.  

These are the strong points of the Zilliqa (ZIL) Whitepaper:

  • Technical specifications
  • Sharding and Proof-of-Work consensus
  • ZIL tokenomics
  • ZIL staking and rewards
  • Zilliqa research direction

The Best Cryptocurrency Wallet for ZIL

After knowing how to buy ZIL, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for ZIL?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of ZIL wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade ZIL right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy ZIL, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for Zilliqa (ZIL)

Do you want to learn more about Zilliqa (ZIL) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about Zilliqa (ZIL)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works
  • Up-to-date cryptocurrency news and developments

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