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How to buy 0x (ZRX)

Learn more about 0x: How, where, why (and why not) to buy.

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0x is a completely open source and permissionless protocol designed to work with ERC20 tokens.

The features that 0x highlights the most are:

  • Off-chain orders. It lets ERC20 tokens be traded on the Ethereum blockchain with reduced gas costs and blockchain bloat.
  • Standardisation and ease of use. It offers standardised APIs, a well-developed programming library and thorough documentation for ERC20 developers to create smart contracts and the like.

The 0x Protocol uses the ZRX token to offer transfer and storage of value across multiple ERC20 projects, execute transactions on the 0x protocol and act as a common token.

What does this mean? For starters, there is the possibility that you might be able to seamlessly spend ERC20 tokens interchangeably across a wide range of projects.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy 0x (ZRX)

Quick guide: How to buy ZRX in Australia

  1. Register for an account with an ZRX exchange like Independent Reserve.
  2. Complete the signup questionnaire
  3. Verify your account
  4. Go to the “accounts” tab
  5. Click “deposit” next to your currency of choice
  6. Select your preferred payment method and confirm
  7. Go to the “trade” tab and select ZRX
  8. Enter how much you want to buy
  9. Double check the details and confirm your purchase
Go to Independent Reserve's website

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

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
BPAY
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Cryptocurrency
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CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Cryptocurrency
Electronic Funds Transfer
POLi
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BTC, BCH, ETH, LTC, XRP, OMG, ZRX, EOS & 3+ more
Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
Bank transfer
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Osko
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BTC, ETC, XRP, BCH, EOS, XVG, LTC, ETH, USDT, XLM & 60+ more
Buy, sell, trade over 70 cryptocurrencies in AU.
Cash
Cryptocurrency
Electronic Funds Transfer
POLi
PayID
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BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, MIOTA, TRX, NEO, DASH, XMR, XEM, VET, ETC, ICX, QTUM, OMG, & 70+ more
Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
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Cryptocurrency
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BTC, ETH, LTC, XRP, ZEC, USDC, BAT, ZRX
CoinJar offers a simple way to buy, sell or trade cryptocurrency with AUD. Enjoy free and instant deposits, flat 1% fees and free withdrawals to your bank account.
Cryptocurrency
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Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: US-based users have been restricted from Binance since June 2019.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Cryptocurrency
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Get US$10 in free bitcoin when you buy US$100 or more of any crypto. T&Cs apply.
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BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
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Compare up to 4 providers

How does 0x work?

One of the main applications of the 0x protocol is for the creation of decentralised smart contract-operated exchanges. This is necessary to mitigate the risks of theft or misconduct found with centralised exchanges.

But there are several problems with that idea.

  • The gas costs of creating, cancelling and adjusting orders on exchanges will quickly add up.
  • There are challenges with maintaining enough liquidity across each exchange (especially with the above costs).
  • Unexpected changes in one place might have unexpected results elsewhere.

0x aims to solve these problems with:

  • Off-chain functions to reduce the gas costs and blockchain bloat.
  • Standard APIs that allow for aggregate pools of liquidity across different exchanges.
  • A modular system that allows for upgrades of individual components without unduly affecting other components, or disrupting existing markets
What are the relayers?
Orders are transported off-chain. In other words, they’re transported by 0x instead of Ethereum. This is done by relayers which collect a small fee each time they facilitate a trade. Anyone can build a relayer.

0x is already used by a range of different exchanges. Many of the exchanges that carry out smart contract-facilitated trading are already using 0x.

What should I consider before buying ZRX?

0x is explicitly designed to enable cross-chain functionality among multiple ERC20 tokens and to act as a common unit of exchange among them where needed.

The token itself is used to pay the nominal relayer fees, and the exceptional utility and wide use of the 0x platform may see demand for the token grow from there.

Other than that, you might imagine ZRX as a generic unit of currency which can be freely traded for others at current rates. By its nature, ZRX trading is probably going to be largely automated and done on an as-needed basis.

The 1 billion coin supply limit (of which 500 million are in circulation), next to its utility and wide use, suggests that it may still have a lot of room to grow.

It’s worth considering the potential for growth in cryptocurrency as a whole, and the number of ERC20 tokens that have yet to launch but will almost certainly be using the 0x protocol in the future.

Even if/when the Ethereum blockchain finds a way to drop its gas costs to negligible levels, 0x’s potential to bridge ERC20 tokens might still find it being widely used.

ZRX might be viewed as a relatively safe token, but that may mean that it won't see the same explosive growth as other tokens. If there is sudden growth, you probably want to find out why. Perhaps someone abruptly dropped a lot of money into ZRX or something exciting just happened elsewhere. As always. it's important to conduct due diligence before considering buying ZRX.

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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