Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has 0x, and is trustworthy!
You can find our top 3 exchanges for buying 0x here, alternatively you can also check our comparison of the best cryptocurrency exchanges in Australia if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy 0x
And of course, the final step is to find 0x on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy 0x (ZRX)
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How to Sell 0x
- Sign into the exchange
- Find where you stored your 0x, either on a hardware wallet or on the exchange.
- Transfer your 0x to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell 0x.
Considerations when looking to buy 0x.
0x, an infrastructure protocol, allows users to trade ERC20 tokens and assets on the Ethereum blockchain. It does not rely on traditional intermediaries such as traditional cryptocurrency exchanges.
This decentralized exchange functionality is achieved by 0x using a group of open-source smart contracts, which are publicly auditable and can be incorporated into products.
ZRX, an ERC20 utility token, powers the protocol. Relayers are nodes that host an off-chain orderbook and provide user-facing apps that present this information. Users can make, fill and cancel transactions using ZRX tokens. ZRX tokens can be used to vote for and suggest changes to the protocol.
2019 saw 0x announce a redesign of ZRX token. This added functionality allows ZRX holders the ability to delegate their stakes to market makers to earn passive rewards and retain their voting power.
0x, unlike other Ethereum decentralized exchange protocols supports both fungible tokens (ERC-20) and non-fungible tokens (ERC-723). It can be used to allow the permissionless trading and purchase, sell, and exchange a large number of Ethereum assets via more than a dozen apps.
The 0x protocol is applicable to many different use cases. This includes OTC trading desks, digital marketplaces like eBay, and exchange functionality for DeFi protocols.
While 0x is an excellent tool for building highly flexible exchange products it can also be used to create products that include asset exchange as a secondary feature, such as in-game purchases or portfolio management platforms.
Liquidity takers on the 0x protocol pay a fee in ZRX tokens. This fee is used for market maker (relayer), liquidity. A protocol fee of Ether (ETH) is also required for users to be paid. This is to cover the cost of gas used in transactions. 0x is an open-source protocol and does not receive any revenue. Instead, ZRX tokens are unlocked to support the team and developers -- in addition to its initial ICO funding.