How to Buy Zilliqa in UK

A Beginner’s Guide to Buying and Selling Zilliqa Cryptocurrency in the UK

Last Updated July 23rd 2021
5 Min Read

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

The cryptocurrency market now offers investors and traders a chance to diversify their financial assets, spread risks, invest and make a good financial gain. This is made possible by the crypto market, an avenue where you can invest in different varieties of cryptocurrencies at the same time. There are many cryptocurrencies in the market today, among them being Helium, ZRX, Bitcoin Cash and Zilliqa among others.

Zilliqa coin is one of the rising stars in the crypto market today, with a remarkable amount of promise for the future. The coin has been embraced by all manner of investors, with a chance to help them grow their financial assets. ZIL operates on the basis of a decentralized finance protocol, making it a more convenient transaction as there are no third parties involved. 

What's in This Guide?

QUICK GUIDE: HOW TO BUY ZILLIQA IN THE UK

  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 Zilliqa
  5. Enter how many Zilliqa tokens you want to buy
  6. Check the details and confirm your purchase

A Step-by-step Guide to Buying Zilliqa

The following is a step by step guide designed to help investors and traders in the crypto market in their journey to start investing in Zilliqa tokens. The guide employs a simple and easily understandable kind of language to ensure that it is understood easily by the reader. To start buying Zilliqa tokens in UK, follow the following steps. 

Step 1: Open an exchange account

Opening an exchange account is the first step, and entails going through the registration or signing up process. To register, navigate to the official website of the exchange account you have chosen and provide the required details. Among the information, you have to fill in include your name, phone number and email address. Next, verify your identity and address in compliance with the KYC rules. Verification requires your government-issued identity card and a billing address. 

To make your account airtight, set up a very strong password, alongside a multi-authentication factor so that no one who is not authorized can access your account.

Step 2: Deposit funds into your account

After setting up the account, you have to fund it by transferring funds from your bank account or through charging your credit or debit card. To deposit funds directly from the bank account requires that you link your bank to the exchange, a simple and very easy to complete process. The funds will be used to buy the Zilliqa tokens.

Supposing you wish to buy the Zilliqa tokens using other cryptocurrencies, then all you have to do is acquire the other cryptos in case you did not have them previously. 

Step 3: Buy Zilliqa tokens

There are two different approaches you can use in buying Zilliqa tokens. First, you can buy them using fiat currency, in this case GBP for UK. To use this approach, go the buy section of the account and click to select the option pairing GBP/ZIL. Next, click to proceed with the transaction and a verification message will be sent to confirm that the transaction is already underway.

The second option entails using other cryptocurrencies to buy the ZILLIQA tokens. In this case, you have to go to the buy section of the account and select the pair that matches the specific exchange you wish to purchase. For instance, to use 0x to buy Zilliqa tokens, simple select the pair that matches ZRX/ZIL. 

Step 4: Store your Zilliga coins in a crypto wallet

After buying the Zilliqa tokens, the next step is to store them before you are ready to start using them. There are two wallets that are used to store cryptocurrencies. These are the hot wallets and the cold wallets. The two forms of crypto wallet work differently, in the sense that the hot wallet stores crypto in online avenues or mobile platforms while the cold wallets stores the tokens in an external hardware such as a USB drive. 

How to Sell Zilliqa Tokens

Retail traders tend to sell their Zilliqa tokens. Some of the reasons for selling include the desire to profit when the value has increased. Another reason is a contingency plan when you want to ensure that your losses are minimized. To sell Zilliqa tokens, log in to the exchange account, go to the sell section and create a sale order. Creating a sell order is simple and requires choosing between selling the Zilliqa tokens for fiat currencies and selling them in exchange for other cryptocurrencies.

The exchange usually sets the price you will sell at depending on the prevailing market prices of the token. If you sell Zilliqa for fiat, you can easily withdraw your money from the exchange.

Which Wallets Can I Use to Hold Zilliqa Tokens?

After you have bought your ZIL tokens, you have to choose a wallet that will hold them securely as your financial assets. Crypto wallets provide the best avenue for storing cryptocurrencies. Crypto wallets are either online software or hardware devices. When the wallets are found on online platforms, they are referred to as hot wallets because of their characteristic storage over online platforms like online and other software. 

As regards hardware devices, these are referred to as cold wallets using USB drives. Cold wallets will keep your tokens offline and are highly secure and safe from internet attackers. The best option for investors who hold their tokens for longer periods is cold wallets. This option is also ideal for people that buy large numbers of ZIL tokens or any other crypto for that matter. 

How Zilliqa Works

All cryptocurrencies, the ZIL coin included, operate or work based on the blockchain network. The blockchain network enables crypto holders to purchase and sell their coins, in this case, ZIL, anonymously, without the need to involve an intermediary. Contrary to traditional finance, blockchain eliminates third parties and brokers, thereby making the transactions more secure, fast, and, most importantly, cheap. 

Factors to consider when buying ZILLIQA Tokens:

History 

The history of a cryptocurrency in terms of performance can enable you to predict how it will perform in the future. 

Availability 

The availability of a coin is directly proportional to its acceptance in the market. Highly available coins can be sold and bought easily. 

Popularity 

Popularity gives you more trading options in the sense that holders of other cryptocurrencies will be open to trading theirs for yours in an attempt to diversify their investments. 

Conclusion 

ZIL tokens are a rising cryptocurrency, having shown increasing popularity ever since launching. The guide above takes you through buying, selling and storing ZIL tokens in the UK. Nevertheless, you need to take note of the risks involved and consult accordingly because crypto investments are very risky. 

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