How to Buy Zilliqa (ZIL) • Step by Step Guide • Benzinga


Want to jump straight to the answer? You can buy Zilliqa on crypto.com.

Despite the relatively slow performance of the broader cryptocurrency market in the first quarter, Zilliqa (ZIL) – one of the most promising high-speed public blockchains – was on fire after the announcement of a new partnership. It reached $0.183, the highest price level since May 18, 2021, significantly outperforming the rest of the cryptocurrencies in CoinMarketCap’s top 100 cryptocurrencies by market capitalization. Zilliqa is now ranked higher than Harmony (ONE), Gala Games (GALA) and BitTorrent (BTT).

The cryptocurrency first gained noticeable attention on March 26 after suddenly surging more than 75% in a single day. Despite the selling pressure, ZIL has managed to maintain its upward momentum, up over 75% in the past three days at the time of writing. Generally speaking, the rally was sparked after Metapolis, a soon to be launched metaverse project powered by Zilliqa, announced its partnership with Agora – a global talent rewards app.

Sandra Helou, head of non-fungible tokens (NFTs) at the blockchain startup, said the partnership could put Zilliqa in a dominant position in the metaverse industry. Prior to the partnership, Metapolis also entered into key esports partnerships to enhance its visibility. Metapolis will launch in early April in Miami, Florida.

What is Zilliqa?

At its core, Zilliqa is a public layer-1 blockchain protocol that seeks to scale financial transactions. The main mission of the team is to create a scalable and functional network without compromising safety and security. To achieve this goal, Zilliqa uses sharding technology that helps increase transaction rates as the network grows. The official team specifies that the latest experimental results show a throughput of more than 2,800 transactions per second. To achieve these features, ZIL, the network’s native cryptocurrency, is used to send transactions, run programs, and incentivize actors that support the network.

In addition to scalability, Zilliqa aims to provide an efficient and secure smart contract layer to allow developers to easily design and develop customizable decentralized applications (dApps) intended to replicate real-world services. Within the network, developers use Scilla –– Zilliqa’s proprietary programming language –– to easily write and express the terms of smart contracts. Scilla, short for Smart Contract Intermediate Level Language, was created by Zilliqa Research to securely power its high-throughput smart contract platform. Nevertheless, Zilliqa is one of many competing blockchains aiming to grow an ecosystem of dApps and cryptocurrencies, such as Ethereum and Tron.

Zilliqa’s main point of differentiation is its partitioning process. Zilliqa uses sharding to divide its infrastructure into several interconnected blockchains. This method allows competing chains to execute transactions in parallel, increasing the overall capacity of the network. Additionally, Zilliqa uses a modified version of the Proof of Work (PoW) consensus protocol to validate transactions. The Zilliqa team claims that this modified consensus model provides a more profitable version of mining than other PoW blockchains such as Ethereum.

Brief History of Zilliqa

The Zilliqa project was founded in 2017 by a group of researchers from the National University of Singapore. The first members of the team were Amrit Kumar, Xinshu Dong, Yaoqi Jia and Prateek Saxena (who previously worked with Loi Luu, CEO and co-founder of Kyber Network), among others. The original team members incorporated the company behind Zilliqa (called Zilliqa Research) in June 2017, a few months before the first official testnet.

To sum up, Zilliqa has a fixed inflation rate and a capped supply – a total of 21 billion ZIL tokens have been created. The distribution of the token supply is:

  • 30% were distributed through the public sale
  • 10% was allocated to Anquan Capital
  • 12% was allocated to Zilliqa Research
  • 5.0% was allocated to the founding team
  • 3.0% was allocated to various support agencies, including Bitcoin Suisse
  • 40% was reserved for future mining rewards, which will be spread over a 10-year period.

Zilliqa hit an all-time high of $0.26 on May 7, 2021 before the cryptocurrency crash of 2021.

How to buy Zilliqa

If you have purchased cryptocurrency before, it will be relatively easy for you to invest in ZIL. As the top 75 cryptocurrencies by market capitalization, Zilliqa will not be available on all exchanges, so you will have a limited number of options to choose from. A few notable exchanges that offer Zilliiqa include crypto.com, Kucoin, and Binance.

  1. Open an account online.

    The first step to investing in Zilliqa is to open an account with an exchange that supports Zilliqa trading. Some features you may want to consider when opening an account include:

    – The cryptocurrencies each exchange offers access to
    – Each exchange’s platform (beginners may want to start with an intuitive exchange like crypto.com)
    – Other assets to which the exchange provides access, ie. stocks, real estate
    – Fee schedules, commissions and account maintenance fees
    – Security encryption, features and availability of two-factor authentication

    After selecting an exchange, open an account and follow the exchange process and instructions. Typically, the exchange will need to collect personal information before you can access the full functionality of the exchange. Some information you may need to provide includes your full legal name, address, phone number, email address, and photo ID.

  2. Buy or download a crypto wallet (optional).

    Additionally, you can use a hardware wallet or a software wallet to store ZIL. Hardware wallets are a form of offline storage. They are considered the most secure method for storing digital assets such as cryptocurrency. A hardware wallet keeps your private keys offline and inaccessible to digital threats. Conversely, software wallets allow crypto holders to securely store their digital currencies and tokens in one place.

  3. Make your purchase.

    Once your account is opened and funded, you can place an order to buy ZIL. First, you need to check the market price of a ZIL to determine how much ZIL you want to buy. Also, when placing an order, be wary of the type of order you are using. There are several purchase order types to choose from, and the order type you use can impact how much you pay per coin and how quickly your order is filled. You can browse some of the most common order types here.

Best Hardware Wallet: Ledger

Buy now

securely through the Ledger Hardware Wallet website

Exam in 1 minute

Launched in 2014, Ledger has evolved into a rapidly growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for businesses and individuals. Born in Paris, the company has since grown to over 130 employees in France and San Francisco.

With 1,500,000 Ledger wallets already sold in 165 countries, the company aims to secure the disruptive new class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates with a secure chip for its line of wallets. So far, Ledger is proud to be the only market player to provide this technology.

Best for

  • ERC-20 Tokens
  • All experience levels
Benefits

  • Easy to set up and use
  • Supports over 1,500 different digital resources
  • Inviolable
  • Portable
  • Long battery life
  • Bluetooth Connectivity Features

Ledger claims to be the smartest way to secure, buy, trade, and grow your crypto assets. The Ledger Nano S is a hardware wallet that is particularly suitable for a wide variety of altcoins. For more information about Zilliqa integration with Ledger, check the official Ledger website.

Trade, sell or convert your ZIL

You can buy, sell and convert ZIL to other cryptocurrencies on the crypto.com exchange. Also, it is important to note that many exchanges allow you to stake ZIL to earn interest. For example, on Binance Exchange, if you stake ZIL with a lockup period of 90 days, you can earn an annualized interest rate of 17.25%. There are options to stake your ZIL for 10, 30, 60 or 90 days, during which you will not be able to sell your tokens. For long-term oriented investors, staking is a great way to earn more tokens.

Current Crypto Prices

The broader cryptocurrency market is recovering from a slow start to 2022. The Cryptocurrency Fear and Greed Index recently indicated that the market is greedy. With Bitcoin and most altcoins having shown significant strength lately, many analysts believe a short-term correction is imminent ahead of further moves higher. The 14-day RSI indicates that most cryptocurrencies are overbought, which could invite bears to look for a price reversal. Going forward, Bitcoin may look to retest $45,000 and $42,000 before aiming for a key psychological resistance level of $50,000.

Is Zilliqa a good investment?

Since Zilliqa has recently spiked, a cautious investor can wait for Zilliqa to stabilize before entering if high volatility persists. Nevertheless, given the growing popularity of Metapolis among other projects on the Zilliqa network, it is reasonable to assume that the demand for ZIL will continue to grow among investors in the future. If you think Zilliqa can continue to thrive and form future partnerships, Zilliqa could be a profitable way to capture the growing value in the Layer 1 segment of the broader cryptocurrency market.


cnbctv18-forexlive-benzinga

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button