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A Beginner’s Guide to Buying and Selling 0x Cryptocurrency in the USA

Last Updated July 23rd 2021
5 Min Read

If you’re based in the USA and wish to buy 0x – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many 0x tokens you want to buy.

The cryptocurrency industry provides investors with the much-needed opportunity to diversify their financial assets. Diversification helps investors avoid financial risks related to market downturns. Many cryptocurrencies in play today can be used by investors, including Bitcoin, Ethereum, Bitcoin Cash, and 0x, among others. 0x crypto is an open protocol designed to enable the networking and exchange of assets over the Ethereum blockchain. 

The 0x platform provides a means through which a variety of assets are exchanged. These assets will have been converted into tokens, including but not limited to stocks, gold, real estate, and video game items, among others. 0x tokens serve to foster or improve interoperability between dapps (decentralized applications), including exchange components. 

The native token for 0x crypto is the ZRX. The ZRX can be perceived as an Ethereum token serving to power the 0x protocol. The protocol was designed to allow the trading of Ethereum tokens at a low cost straight from the hold wallet.

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY 0X IN THE USA
  2. A Step-by-step Guide on How to Buy 0x
  3. Store in a Crypto Wallet
  4. How to Sell 0x Tokens
  5. Things to Consider When Buying 0x Tokens
  6. Conclusion 

QUICK GUIDE: HOW TO BUY 0X IN THE USA

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select 0x
  5. Enter how many 0x tokens you want to buy
  6. Check the details and confirm your purchase

A Step-by-step Guide on How to Buy 0x 

The following guide will lead you through the process of buying ZRX tokens in the USA.

Step 1: Open an exchange account

In your efforts to buying the ZRX tokens, the first step is to open an exchange account that you will use to securely buy the ZRX coins. When signing up for an exchange account, first ensure that your chosen account can support the transactions you wish to perform. In this regard, the exchange must support both ZRX tokens and USD currency because these are the currencies you will be using in your transaction. 

Once you have chosen the exchange account, there are certain details that you will be required to provide during the registration process. Some of these details include your name, phone number, and email address. Certain exchange accounts require account holders to verify their identity using a government-issued ID card. The accounts may also require that you provide proof of address, in which case you will have to use a utility bill or some other supporting document. 

To enhance your security, you must set up a strong password to protect your account from anyone who is not authorized for access. 

Step 2: Deposit funds into the account

Once you are through with the registration process, you have to deposit funds into the account. The funds serve to facilitate the intended transactions of buying the ZRX. There are two approaches for buying the tokens- using fiat currency or trading with other cryptocurrencies. When fiat currency is used to fund the exchange account, the USD currency is what serves in the case for the US. Fiat currency is the most common means of funding the account. Fiat currency involves linking your credit or debit card directly to the exchange account, after which you will facilitate the transfer. 

On the off chance that you prefer using another means aside from the fiat currency, you must have other cryptocurrencies in your account. You will then use these cryptocurrencies in exchange for the ZRX tokens. In the latter case, all you need to do is select the pairs matching your intended transaction. 

Step 3: Buy 0x tokens

Once you are through with the registration and funding steps, you can now buy your ZRX tokens. Navigate to the buy section of the account and enter the amount of fiat currency you wish to use in buying the ZRX tokens. Confirm that all your order details are accurate, after which you will receive a notification in your email with the details that the transaction is in progress.

You can use two types of orders when buying the ZRX tokens: the market order and the limit order. The market order is the most common type that allows you to buy ZRX at the prices currently prevailing in the market. 

The other alternative, the limit order, will allow you to set a lower limit price to purchase the ZRX tokens. When the price of the ZRX reduces to a point where it matches your order limit, the order is completed automatically.

Store in a Crypto Wallet

Now that you have bought the ZRX tokens, you must find a secure place to keep them. Cryptocurrencies are normally stored in either of two places; a cold wallet or a hot wallet. The main difference between the two wallet forms is the security level achieved. Cold wallets are less susceptible to attacks or loss to internet hackers. 

Cold wallets serve by storing the tokens offline using external hardware such as a USB drive. This form of wallet is recommended for traders that prefer or intend to hold their tokens over long durations before their next exchange. The other wallet is the hot wallet, which stores the tokens online using online access apps. The hot wallet is a preferred choice for individuals who trade very often and therefore require a storage platform that is easy to access upon need. 

How to Sell 0x Tokens

The process involving selling the ZRX tokens is easy, swift, and is facilitated by the exchange account you already own. To sell the ZRX tokens, create a sale order by going to the sell section of the account and specifying the number of tokens you wish to sell. Next, confirm your transaction details.

You can either sell by converting the ZRX tokens into cash or trading them for other cryptocurrencies.  

Things to Consider When Buying 0x Tokens 

There are certain things you must consider when buying the ZRX tokens. These include:

Coin availability 

A highly available coin means they are easy to sell or buy because people associate these coins with value. It would help if you always preferred cryptocurrencies with higher availability score compared to those less available. 

Coin usability 

Coins that can serve purposes other than trading hold more value compared to those with limited uses. 

Coin history 

The performance history of a particular cryptocurrency helps in predicting its expected performance in the future. Make sure you evaluate the performance of a coin over the last few months before deciding to buy. 

Conclusion 

ZRX tokens are one of the most promising cryptocurrencies with a positive track record so far. However, one must always consult with an industry professional before settling on this coin. Additionally, there are particular elements that you must always keep in mind.

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