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How to buy, sell and trade Zilliqa (ZIL)

A beginner’s guide to buying, selling and trading the ZIL token in the US.

The Zilliqa project is an initiative that aims to resolve issues surrounding blockchain scalability. Zillings, denoted by the ticker symbol ZIL, are the tokens of the Zilliqa platform. On the Zilliqa platform, ZIL tokens are used to pay for transactions or run smart contracts.

Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.
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Quick guide: How to buy ZIL

  1. Register for an account with a cryptocurrency exchange like KuCoin.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click "Buy Crypto".
  5. Choose your preferred payment method.
  6. Choose a payment channel, or stick with the default option.
  7. Search for the cryptocurrency you want to purchase from the list on the right.
  8. Select the currency you want to pay in, and the amount you want to spend.
  9. Review the transaction details.
  10. Click "Confirm".
Go to KuCoin's site

This is our quick guide to just one way to buy ZIL. Compare some other options in the table below.

Where to buy, sell and trade Zilliqa

Zilliqa (ZIL) is available on a number of popular cryptocurrency exchanges, including:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

267
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

247
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

125
cryptocurrencies

Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, earn up to 8% on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
USD

56
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
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Compare up to 4 providers

A step-by-step guide to buying ZIL

The above exchanges allow users to purchase ZIL. Let’s use Huobi as an example for this guide. Follow our step-by-step guide below to find out what you need to do.

Step 1. Create an account at the exchange of your choice

Using Huobi as an example, you’ll visit the Huobi homepage and open an account. By default, the website will be in Chinese, so click on the highlighted button at the very top right-hand side of the screen and change the language to English. Next, click on “Sign Up.” You’ll need to enter your nationality, a strong password and an email address all of which you’ll need to confirm by entering the code that’s sent to you. Once your account is created, log in.

Step 2. Deposit funds into your account

As of April 2018, Huobi doesn’t offer any fiat currency deposit facilities. You’ll need to fund your account with cryptocurrency that’s been listed in a pair with ZIL, such as BTC or ETH.

If you don’t hold either of these coins or if you’re unsure how to obtain them, you can refer to the following guides:

To begin depositing your cryptocurrency in your Huobi account’s wallet, hover your mouse over “Balances” and click on “Deposit & Withdraw.” Find the cryptocurrency that you’ll use to fund your account (such as BTC or ETH). Next, click on “Deposit.” This will display your unique Huobi wallet address. Copy it to your clipboard.

Now head over to your account on the exchange where you hold BTC or ETH. You’ll typically be able to send funds by going to the “Withdraw” or “Send” section of the website. Once you have opted to transfer your funds, you should be prompted to enter the wallet address where funds should be received. Paste in your Huobi address and send your chosen amount of funds.

Must read: Ensure your wallet address is correctly entered!

  • Note that every wallet address is a unique code. As transactions are typically irreversible, always check that your receiving wallet address is entered accurately.

Once your funds have been received, you should be able to see balances updated on your exchange account after a few minutes.

Step 3. Buying ZIL

Now that your Huobi account is funded, click on the “Exchange” button on the top menu. On the left-hand sidebar, you’ll see a search box next to “Markets.” Search for “ZIL” and then, depending on your deposited currency, select BTC or ETH.

To access the trading screen, click on the row that displays ZIL. Scroll down below the chart and you’ll see two trading boxes. First, ensure that the “Market Order” button is selected, as this will execute your trade at the current market price. Next, enter the amount of ZIL tokens you want to buy, ensuring that you’re using the box above the green “Buy” button.

Finally, click on “Buy ZIL” and your trade should fill immediately. As a final check, go back to your “Deposit & Withdraw” screen to see your updated balance.

How to sell ZIL

If you want to sell your ZIL tokens, the process is similar to buying in the above example. However, if you’re using Huobi, please ensure that you use the “Sell ZIL” trading box instead that’s above the red button.

Which wallets can I use to hold ZIL?

ZIL tokens are supported by several wallets, such as the official Zillet wallet.

See our comprehensive guide to choosing your cryptocurrency wallet.

How does the Zilliqa platform and ZIL work?

Created in June 2017 by a team of academics, the Zilliqa objective was to design a blockchain that could resolve issues surrounding blockchain scalability. When the cryptocurrency revolution experienced exponential growth in 2017, it became apparent that the first and second generation blockchain protocols of bitcoin (BTC) and Ethereum (ETH) had issues with scalability. As transactional demand has increased, blockchain validation speed has become slower. Hence, as more and more users accessed the system, the speed and efficiency of each transaction decreased drastically.

In response to this, the Zilliqa platform was built to handle significant throughput, or data processing, without compromising on network efficiency. The team behind Zilliqa claims to have resolved this issue through implementing a model known as sharding.

Key features of the Zilliqa platform

  • Sharding. Sharding is the theory that as more and more nodes engage with the network, the amount of transactions per second that the blockchain can handle increases. Nodes simply refer to computers communicating with one another in a network. In a test, the Zilliqa model was able to perform 1,389 transactions a second. In comparison, it is widely accepted that bitcoin has a maximum capacity to validate 7 transactions per second.
  • Hybrid Consensus Model. The initial validation method used to verify a movement of data is the proof-of-work (PoW) mechanism. Once a node has been verified, it is assigned to a shard. As an increased layer of protection against malpractice, the Zilliqa blockchain implements the Byzantine Fault Tolerance (BFT) consensus model. In a nutshell, this means that when a new transaction is sent to the network, it cannot be tampered with. Similar models can be found in aerospace engines and nuclear plants.
  • Decentralized Applications (dapps) and smart contracts. The Zilliqa developers have created a feature that can facilitate smart contract utilisation. Smart contracts are contracts written in computer code instead of traditional legal language, enabling the contract to be executed automatically under predefined conditions. This means that two parties can agree to complex terms without needing to involve third parties. As identified on the Ethereum blockchain, smart contracts are data intensive. However, the sharding model installed within Zilliqa is designed to facilitate transaction speeds that are still within the thousands per second.
  • Zillings (ZIL). The Zilliqa platform’s intrinsic tokens are called Zillings and have the ticker symbol ZIL. ZILs enable users to have platform usage rights where they can run smart contracts, receive mining rewards or pay for transaction processing.

Find out more key cryptocurrency terms in our A-Z Ultimate Cryptocurrency Glossary.

Real-world applications for ZIL

In late 2017, Zilliqa raised the equivalent of $12 million in exchange for its newly created ZIL token. The fundamental purpose of ZIL is to fuel the Zilliqa economy. Notably, ZIL is the currency for mining rewards, transaction fees and smart-contract execution. Outside of these parameters, the ZIL token acts just like any other cryptocurrency. Users can send, hold and receive funds, wallet to wallet, and its value is determined by market demand.

What to consider if buying ZIL

All cryptocurrencies are highly speculative and there is not necessarily any correlation between the price of a token and the development of a blockchain. Here are other considerations you could factor into your decision to buy ZIL:

  • Supply. The total supply of ZIL will be capped at 21 billion coins.
  • Sharding success. Zilliqa successfully launched a sharded mainnet and launched a high throughput blockchain.
  • Whitepaper. To learn more about the Zilliqa platform’s aims the ZIL token, you can check out the Zilliqa technical whitepaper.
  • Notable Partnerships. The Zilliqa team has partnered with Mindshare, a global media and marketing agency.

Once you have considered the above points and conducted independent research on ZIL, you should be able to make an informed decision on whether to buy ZIL.

Picture: Shutterstock

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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