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How and where to Buy Zilliqa (ZIL) - a Beginner’s Guide

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Zilliqa (ZIL)
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Author: Matt Pigott Updated: 31 May, 2022

As both a cryptocurrency and blockchain ecosystem, Zilliqa prides itself on being a low cost, environmentally sustainable and highly scalable network that’s easy to use. 

Launched in 2017 by Singaporean computer and blockchain researchers, Xinshu Don and Amrit Kumar, with the project's mainnet launched in 2019, Zilliqa was one of the first blockchains to tackle scalability through something known as sharding, which makes computational throughput much faster.

Zilliqa incentivises a network of globally distributed computers to run the system and is seen as a winning platform by developers building new applications, known as dApps, on the network. 

Zilliqa is perhaps best known for the dApp, Unstoppable Domains. Created on the Zilliqa blockchain, Unstoppable Domains provides readable domain names for users as opposed to ultra-long, hexadecimal crypto addresses. This article takes a deeper look at how you can buy Zilliqa, why it's good, and where you can buy it.

Our Quick Tutorial to Buy Zilliqa with your Favourite Payment Method

There are multiple online platforms to buy Zilliqa in a secure and easy way. We've chosen the top place so you can start right away and get ZIL in just a few minutes, regardless of your experience level. Please follow our step-by-step guide below.

Step 1: Sign-Up

The first step consists in creating a free account with our recommended platform. Visit the website by clicking the button below and start with your basic information to sign up. Depending on your location and local regulations, you might need to verify your identify.

Step 2: Make your First Deposit

Once your account is set up, you can go to "Deposit" and follow the instructions to fund your account with your payment method of choice . Enter the amount you want to deposit (beginners normally start with lower amounts), follow the steps and check your new account balance.

Step 3: Buy Zilliqa!

Your account is all set and you'll be able to trade any of the available cryptocurrencies on the platform. Select an order type to buy ZIL (a market order will be fulfilled instantly). Check your dashboard for your opened positions and available crypto funds!

How to buy Zilliqa in 3 easy steps

1. Create a free account

Find a broker or cryptocurrency exchange you like the look of. Once you’ve picked one, sign up for an account—a process commonly known as KYC. You’ll need some sort of photo ID such as a passport or driver’s licence and it’s possible you’ll need to provide some biometric data, such as a face scan, via your phone. This is done for security purposes and to meet regulations. 

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2. Fund your account

Once you’ve set up your account, you’re almost ready to purchase some Zilliqa. First, though, you’ll need to transfer some money into your account. To do this, head to the 'Deposits' section of your chosen crypto exchange and use your preferred method of payment. In most cases, this will be done with a debit or credit card, though most exchanges also allow you to fund your account via a bank transfer. 

3. Buy Zilliqa (ZIL)

To buy ZIL, search for the token in the search bar of the exchange. You’ll see a list of ZIL paired with many different cryptocurrencies including, most likely, Bitcoin, Ethereum, and USDT. Occasionally, depending on the exchange, you might see it paired with a fiat currency such as USD. The first ticker symbol is known as the base currency and the second is the quote currency. If you buy ZIL/USDT, for example, then ZIL is the base currency. When you decide to sell your ZIL, the base currency will be converted into the quote currency—in this case, the stablecoin USDT, which you can then use to buy something else.

Where to buy Zilliqa

There are a number of crypto brokers and exchanges where you can buy Zilliqa. Below are a few of the best options currently available:

  1. Coingate - Is a seamless flexible and diverse gateway to cryptocurrencies, including Zilliqa (ZIL). It also has a suite of trading and crypto payment tools for crypto traders and investors to use.

  2. FTX - Founded by the cryptocurrency investor and philanthropist, Sam Bankman-Fried, FTX is one of the leading crypto exchanges in the world today with daily exchange transaction volumes exceeding $10billion

  3. Swapzone - Is a cryptocurrency exchange aggregator where users can go to compare exchange rates, swap coins and explore different services across many cryptocurrency exchanges, all in one place.

Where is the best place to store Zilliqa?

The easiest way to store your ZIL tokens is to leave them in your crypto wallet. That way you’ll have ready access to them should you need to sell or stake them. If you want a bit more control over your funds you can send them to a non-custodial wallet such as Metamask or Trustwallet.

These wallets are used by millions of crypto traders, investors and enthusiasts and relied on as one of the safest and cheapest ways to keep crypto assets secure. An even better solution for the full protection of your ZIL is to invest in a hardware wallet. These give you the greatest security. Below are the two best hardware wallets for beginner and experienced crypto investors. You can also stake ZIL on the Ledger wallet and earn a passive income on your holdings of up to 15%.

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Things to Consider Before Buying Zilliqa (ZIL)

What makes Zilliqa a good cryptocurrency to buy?

Zilliqa is a well-established cryptocurrency and blockchain-focused on solving the blockchain trilemma of speed, security and scalability. It aims to achieve this through a combination of the Proof of Work (PoW) consensus mechanism coupled with a Byzantine fault tolerance protocol. This is better for the environment than the straight PoW used by Bitcoin and other blockchain projects. The fusion of systems also provides more robust security than platforms such as Cardano while attaining speed and scalability through sharding. These things combined make it ideal for emerging and enterprise tech businesses that require a high degree of computational throughput.

When is the best time to buy Zilliqa?

The best time to buy Zilliqa is when the price is appreciating. Although crypto markets are volatile, meaning they move up and down quickly, if you zoom out and look at a long term picture on a weekly or monthly chart, it's possible to get a good idea of whether the trend is up or down. 

If the price appears to be falling hard, often depicted by long red candles, it’s best to wait. If the price appears to be consolidating—ie sitting in a tight range—after a fall, this is often a good time to buy. This is known as an accumulation phase. To increase your chances of buying ZIL at a discount, wait for this to happen. If you can see this has already happened and there are green candles are emerging coupled with good volume, this also marks a good time to buy Zilliqa.  

Are there other ways to make money from Zilliqa?

The main ways to make money from Zilliqa are through buying it at a low price and selling it at a higher price. If you plan on Hodling your ZIL for more than a few weeks, you can also make money through staking. This is where you deposit your ZIL into a pool in return for a reward. Your deposit of ZIL helps to secure the blockchain network and in return, you receive a high APR paid to you in ZIL. If you’d like to stake any ZIL you’ve bought, head to the Zilliqa staking page on its website and choose a ZIL wallet such as Atomic Swap, Moonlet or Ledger. Currently, APR is as high as 15%.

Things to avoid when buying Zilliqa (ZIL)

Zilliqa is one of the most solid blockchain projects with a strong community and plenty of dApps built on its network. That said, for investors keen to buy the coin, there are some considerations. The first is, know your risk appetite. Although Zilliqa is here to stay, the price of the associated coin is often driven from the sidelines by speculators. This makes it prone to pumps and dumps as people enter and exit the market. For this reason, if you are new to cryptocurrency, avoid buying on hype bias. Think about the project longer term and ask yourself if you think the price of ZIL will be much higher in five to ten years than it is today. Panic buying through FOMO and panic selling at the first sign of trouble are sure ways to lose money as you are likely to repeat these behaviours. Instead, take a measured view and ask yourself if ZIL will follow the long term trajectories of standout coins such as Bitcoin or Ethereum.

Key Takeaways

Zilliqa is an excellent blockchain project with some seriously killer dApps built on its network. These include Unstoppable Domains which allow people to buy readable crypto domains and keep them forever as non-fungible tokens (NFTs) and Mintable, an NFT marketplace that allows users to purchase NFTs. 

The company also has a solid roadmap and is consistently making platform updates to achieve its overarching aim of solving the blockchain trilemma. Through sharding upgrades, storage pruning and more, day by day Zilliqa is becoming leaner, faster and more secure. In short, it bears all of the hallmarks of a blockchain built to withstand every crypto winter.

Frequently Asked Questions

  1. Zilliqa's price will fluctuate, but our analytics, based on tokenomics and past price performance, is that Zilliqa will reach $0.80 by the end of 2026. Zilliqa's all-time high was $0.25 in May 2021. A break of this high would likely see it posting consecutive new highs to the 3.618 Fibonacci extension level (from its lowest bottom). This sits at precisely the $0.80 level.

  2. Zilliqa prides itself on security. As one of the first blockchain companies to use sharding, with its combination of Proof of Work and Byzantine fault tolerance protocol, its network is well protected against hacks and malicious activities.

  3. To sell Zilliqa, simply go to the exchange where you hold it, select the Zilliqa pair you bought, choose the quantity of ZIL you want to liquidate and hit the 'sell' button. Your ZIL will revert to the quote currency, so USDT if you bought ZIL/USDT. From there you can buy another crypto with your USDT or convert it to your preferred fiat currency such as USD.

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