Looking for the best way to buy 0x (ZRX) tokens? If the answer to that question was yes, keep reading. This article examines all the major crypto exchanges and crypto purchasing services that support 0x.
The first section is aimed at helping beginner traders buy 0x. If you’re an experienced crypto trader, scroll down to find out which professional exchanges list ZRX.
What Is 0x?
0x is a protocol that was designed to simplify and integrate the confusing flood of new cryptocurrencies that have recently entered the market. Its creators’ mission is to “create a tokenized world where all value can flow freely.” Developers can use 0x protocol to build decentralized exchanges (DEXs), marketplaces for digital collectibles, and to create crypto wallets with built-in exchange features.
This week, the 0x team debuted a new feature called 0x Instant which lets eCommerce merchants offer simple crypto purchasing in any app or website.
The Most Beginner-friendly Ways to Buy 0x
If you’ve never bought cryptocurrency before, attempting to use a cryptocurrency exchange that offers features like technical charts and multiple order types may feel overwhelming. The exchanges listed below are much easier to use because they let you buy cryptos like 0x quickly and easily.
Changelly offers a simple way to buy cryptocurrency. The interface consists of two menus: You Send and You Get. If you have a debit or credit card, you have the option of exchanging US dollars or euros for 0x. Click the Exchange Now button and proceed to the next step.
Now, you confirm the amount of 0x you want to buy. Your exchange rate quote will appear on the right side of the box. The minimum purchase amount is $100.
Step two of the process involves entering your ZRX wallet address. If you don’t have one yet, you can create one yourself. Any wallet that supports Ethereum will work with ZRX. Coinomi and Jaxx are two popular wallets that support ZRX. Read detailed advice for selecting a cryptocurrency wallet at the link below.
After you enter your wallet address, Changelly will ask you to confirm that the information you provided is correct.
Now all you have to do is enter in your credit card information. Once you fill in the form, Changelly will take it from there and complete the rest of the order. After the order is fulfilled, the ZRX you bought will appear in your ZRX wallet.
Though Changelly is very easy to use, it’s somewhat expensive compared to other beginner-oriented cryptocurrency services. Every transaction that goes through Changelly incurs a 0.5% fee. You also have to pay Changelly’s bank card processor. For a complete list of Changelly’s pros and cons, follow the link below.
If you live in the US and you follow cryptocurrency, you’ve probably seen or heard the name Coinbase. Coinbase is one of the largest US-based cryptocurrency exchanges, and it recently added support for 0x.
One reason for Coinbase’s success is that it has a simple, beginner-friendly interface. Other convenient features like easy bank transfers, automated verification and live chat make it easy for people who have never traded crypto before to make their first purchases.
However, you’ll have to pay a bit more in fees if you use Coinbase. Like Changelly, Coinbase puts a 0.5% fee on top of every transaction that it processes. In addition to the base transaction fee, there’s a variable “Coinbase fee” that Coinbase extracts when you buy or sell.
Abra is a smartphone app that lets you buy and sell cryptocurrency on the go. Its most unique feature is its synthetic approach to cryptocurrency listings. Synthetic currencies let Abra uses trade a wide variety of cryptos, including 0x.
Another benefit of Abra is its low fees in comparison to other beginner-oriented crypto services. There are no deposit fees or withdrawal fees, and Abra only extracts a small variable spread fee each time you buy or sell an asset. Features like support for American Express credit card purchases as well as wire and ACH bank transfers add to Abra’s ease of use.
The downside to Abra is that its synthetic currencies are only good for HODLing. There is no way to withdraw 0x or any other synthetic currency. When you withdraw a synthetic cryptocurrency from Abra, it gets automatically converted into one of Abra’s native currencies which include Litecoin, Bitcoin and Bitcoin Cash. If you just want to buy 0x in the hope that its price will go up, Abra makes sense. However, if you intend to use the actual 0x currency for something, Abra is not a good choice.
Advanced Exchanges with Lower Fees
Advanced cryptocurrency exchanges are typically cheaper to use than beginner-oriented exchanges, but may be bewildering to those who aren’t familiar with trading terminology. The exchanges listed below cater to frequent crypto traders with charts that display technical indicators, support for massive numbers of cryptocurrencies, commission discounts, over-the-counter trading, margin trading and other technical features.
As its name suggests, Coinbase Pro is owned by Coinbase. Previously, the exchange was known as GDAX, but Coinbase rebranded GDAX to Coinbase Pro earlier this year.
Coinbase Pro is a good starting point for casual traders that are interested in learning more. It costs nothing to move your money from your Coinbase account to Coinbase Pro. In addition, Coinbase Pro’s support site does a pretty good job of explaining the exchange’s advanced features.
For frequent traders, the most appealing aspect of Coinbase Pro will likely be its competitive commission fee schedule. All maker trades are free, and taker trades start at 0.3%. The Coinbase Pro interface displays candlestick or line charts and it has a couple of basic overlays that let you track and predict price movements. These overlays include two different EMA (Exponential Moving Average) indicators.
The primary downside of Coinbase Pro is that it only supports just 25 coins. Other exchanges offer hundreds of coin markets. In addition, there is no OTC trading option or support for margin trading.
Bittrex offers more support for altcoins compared to Coinbase Pro. Currently, Bittrex has 286 different trading markets. Another feature that’s similar to Coinbase Pro is support for USD deposits.
On the downside, Bittrex applies a flat 0.25% commission fee to all trades, regardless of type. What’s more, there are no commission discounts for frequent or high volume traders. Another disadvantage is that Bittrex doesn’t support ACH fiat deposits. The only way to move your money into the exchange is through pricey wire transfers.
Binance, one of the world’s largest cryptocurrency exchanges, is popular among professional crypto traders for its low fees and excellent worldwide availability. One benefit of Binance is that it supports not only ZRX, but also 390 other cryptocurrencies. Like many advanced exchanges, Binance has a publicly accessible API. This lets programmers set up autonomous trading bots.
However, cryptocurrencies are all that Binance supports. It doesn’t accept USD or any other government-issued currency. The reason: once an exchange begins supporting fiat, it has to comply with a slew of additional regulations. Complying with these regulations is expensive. That’s why exchanges that only support cryptocurrencies are cheaper to use.
Binance traders enjoy low 0.1% commission fees on all trades and discounts on trades that involve Binance’s BNB token. This competitive commission fee schedule, together with Binance’s fast, high volume marketplace, has helped Binance attract large numbers of professional and institutional crypto traders.
Poloniex also supports 0x and its fee schedule and features are very similar to Binance’s. Commissions start at 0.1%, but high volume traders can get rates as low as 0%. Another feature that Poloniex and Binance have in common is that they both let programmers access their APIs.
A key advantage that Poloniex has over Binance is peer-to-peer margin trading. This feature allows traders to lend and borrow from each other. Unfortunately, Poloniex will disable P2P margin trading in the US before the year is out. However, peer to peer margin trading will still be available outside the US.
The most interesting thing about Cobinhood– a new crypto exchange that’s based in Taiwan– is that it doesn’t charge any commission fees. Rather than generate revenue from commission fees, Cobinhood makes money through its ICO underwriting service and by lending money to users who want to leverage their trades.
The main downside of Cobinhood is that its margin trading feature is only available outside the US. However, US-based Cobinhood users can still buy and trade 0x. Another downside: Cobinhood’s liquidity is low compared to more established exchanges. This lack of trading activity means that you may have to wait longer to fulfill an order.
HitBTC is a popular crypto exchange that’s based in Chile. Its most unique feature is that it offers commission rebates on some types of trades. The rebate feature means that rather than having to pay a fee to place an order, HitBTC will sometimes pay you to do so. Margin trading is available through Weltrade, a HitBTC partner.
The disadvantage of HitBTC is that, like many advanced crypto exchanges, it does not accept any form of fiat money. Also, some have criticized HitBTC’s executives for choosing to remain anonymous. Another downside is HitBTC’s high withdrawal fees.
Huobi also supports 0x, plus it offers one of the world’s only crypto ETFs (Exchange Traded Funds). The ETF makes it easy to invest in the most popular cryptocurrencies on the market. Other benefits include margin trading and 0% commission fees for market makers.
On the downside, Huobi is difficult to use because it doesn’t support fiat currencies. Like, HitBTC, Huobi uses high withdrawal fees to encourage traders to leave their money in their accounts.
What’s the Best Way to 0x (ZRX)?
Though the list you just read represents the 10 best ways to buy 0x, you may still be wondering which exchange to use to make your purchase. If you’re still in doubt, consider your trading experience and habits before you make your decision.
For beginner traders
If you’re looking for a low-hassle way to buy 0x, Changelly is one of the best options. Using a debit or credit card to buy 0x through Changelly is a short and painless process.
However, if you prefer to use a bank transfer to make your 0x purchase, Abra makes more sense. Abra doesn’t charge any withdraw or deposit fees and it accepts ACH and wire transfers.
Another beginner-friendly way to buy 0x is Coinbase. Getting started with Coinbase is quick and easy, thanks to its automated ID verification feature. Multiple purchase options provide good flexibility.
For advanced traders
If you’re a frequent crypto trader, you’ll probably want to buy 0x through a high volume exchange that offers low fees. Binance meets both of these criteria and so does Coinbase Pro. The benefit to Binance is that it supports a huge variety of coins. Coinbase doesn’t have as large of a coin selection, but it accepts fiat deposits.
Cobinhood offers commission-free trading, but its low volume market could be a disadvantage. HitBTC and Huobi offer some interesting features, but they both charge high withdrawal fees to encourage traders to leave their money in their accounts.