0x has a prominent position in decentralized finance (DeFi), designed to facilitate decentralization in digital asset trading. Centralized exchanges are prone to hacks – the 0x platform is a DEX designed to make hacking or stealing difficult. 0x provides developers with a platform to build DEXes on the Ethereum blockchain. According to its website, 0x is the liquidity endpoint for DeFi on ETH, MATIC, BSC, AVAX, FTM and CELO. On Coinmarketcap its market capitalization is $212M, in the top 30 DeFi coins.
The native token of 0x is ZRX, an Ethereum based ERC-20 token used to power the 0x protocol. 0x was designed to allow ETH tokens to be traded directly from an Ethereum wallet at a low cost. The platform 0x is an important infrastructure for the emerging crypto economy as it enables users to trade ERC-20 tokens and other assets on the Ethereum blockchain without using traditional crypto exchanges.
The ZRX token circulating supply is 847.5 million ZRX tokens out of a total supply of 1 billion. It ranks #88 in the overall crypto markets by market cap. If you are interested in knowing more about 0x and its token ZRX, e.g. how to buy the 0x token, how ZRX works, and what are the projections for the 0x token, we cover those in this guide.
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Where to Buy 0X (ZRX)- Best Platforms
The following are the best exchanges or platforms to buy the ZRX token. The features and requirements of all platforms are listed below to compare and select the one that suits you most.
Huobi – Best Exchange to Buy 0X (ZRX)
Huobi is one of the world’s largest cryptocurrency exchanges, with trading volume ranking among the top three. It was founded in 2013 by Leon Li, making it one of the first online cryptocurrency exchanges.
It started operations in China, but moved to the Seychelles and Singapore after the Chinese government banned cryptocurrencies. It lets you trade over 380 different cryptocurrencies.
Huobi, in addition to cryptocurrencies, offers ICO tokens, which has helped it become one of the largest and most well-known crypto exchange platforms. The Huobi Token (HT), which was first issued in January 2018, has over 3 million registered accounts and has expanded its infrastructure to the United States, South Korea, and Japan.
The Republic of Seychelles is in charge of the platform. In addition, the FCA regulates it in the United Kingdom. It also adheres to the KYC guidelines. Huobi also offers BTC, LTC, and ETH 5X leveraged margin trading. The exchange offers the most up-to-date technological advancements in terms of security, such as 2-factor authentication. It also keeps 98 percent of its clients’ assets in cold storage to prevent hacking.
Deposit – Huobi accepts over 90 different deposit and withdrawal methods, including Faster Payments, US ABA transfers, SWIFT International Transfers, Visa/Mastercard, USD Balance, SEN, and more. The platform accepts cryptocurrency deposits such as XRP, BTC, LTC, and their token, HT, instead of cash.
Fee – The fee is $100 for the initial deposit. The withdrawal fee for international wire transfers is 1%. For cryptocurrency withdrawals, the fees are 0.0001 BTC and 0.001 LTC. The trading fee is set at 0.2 percent, but it can be reduced to 0.1 percent for customers who trade in larger volumes. The maker fee is typically 0.02 percent, while the taker fee is 0.04 percent.
Huobi Global can be reached by email, phone, online chat, ticket system, and social media. Huobi Wallet, Huobi Mall, Huobi Prime, Huobi, Eco Chain, and Mobile App are just a few of the platform’s notable features. Points are awarded for completing tasks and inviting friends.
Pros & Cons of the Huobi platform:
- Impressive trading platform
- More than 350 cryptocurrencies
- High level cyber security
- Strong customer support
- Low trading fees
- Professional trading tools
- Mobile app
- 24/7 customer support
- No fiat deposits or withdrawals
- Not available in the US.
- Complex account registration process
Your Capital is at Risk
2 – Crypto.com
In 2016, Crypto.com, a cryptocurrency exchange, was established. It stands out as a one-stop-shop for all of your cryptocurrency transactions, making it a good fit for investors of all skill levels. The trading interface on this exchange, on the other hand, may be complicated for newcomers. Cronos, the exchange’s own native cryptocurrency, is available (CRO).
The founders of crypto.com envision a future in which cryptocurrencies are regarded as a standard investment class rather than a novelty, according to their vision. Cashback Visa Cards and High-Interest Rates are two features that set this platform apart.
The five prepaid Visa Cards available on the platform are the Obsidian Card, Midnight Blue Card, Ruby Steel Card, Royal Indigo of Jade Green, and Frosted Rose Gold/Ice White, each with five different rewards tiers. The reward amount for each reward tier is determined by the amount of CRO staked on the card. You can also use these cards to get discounts on popular subscription services like Spotify, Netflix, and Amazon Prime. On a stake of 5 million CRO, the highest payout is 8%, which can be cashed out using the Obsidian card.
Other cards, such as Midnight Blue, Ruby Steel Card, Royal Indigo or Jade Green, and Ice White/Frosted Rose Gold, can offer up to 1% cashback, Ruby Steel Card up to 2% cashback, Royal Indigo or Jade Green up to 3% cashback, and Ice White/Frosted Rose Gold up to 5% cashback.
By lending your cryptocurrency to others, Crypto.com also provides interest-bearing earnings. You can earn up to 14.5 percent on your deposits with the Earn Program. It’s one of the highest interest rates that cryptocurrency exchanges have to offer. The ability to use cryptocurrency in the real world is another distinguishing feature of Crypto.com. You can buy goods and services from the exchange with your cryptocurrency. The platform’s Crypto Visa Cards make this possible.
Fee – The fee structure at Crypto.com is a little confusing. The minimum account balance on this platform is $1. The maker/taker fee is calculated based on the trading volume over the previous 30 days. The maker fee is between 0.036 and 0.40 percent, and the taker fee is between 0.090 and 0.40 percent. Additionally, there are no fees associated with transferring funds from a bank account.
Payment Methods – Credit/debit cards are accepted as payment methods, with a fee of only 3%. Paypal is a payment option in addition to an ACH transfer and a wire transfer. With a $10 sign-up bonus and a referral bonus of up to $2000, it’s also used as a promotional tool. Customers can use cryptocurrency to trade, buy, and sell services and goods, as well as earn staking and cashback rewards, use Visa cards, DeFi products, and use a separate NFT platform.
It’s a single platform with a wide range of services. The exchange also offers educational resources through its University Portal. It also has a mobile app that can be downloaded from the App Store and Google Play. Those looking to get the most out of their cryptocurrency holdings should use the platform.
Deposit – The minimum account balance on this platform is $1. Fees for makers and takers range from 0.04 to 0.40 percent. Credit/debit card purchases are charged at 0% or no fee for the first 30 days after opening an account. For each friend they refer, users can earn up to $2000.
Security – Crypto.com uses security measures like multi-factor authentication and whitelisting to keep customer accounts safe. Furthermore, the platform stores customer deposits offline in cold storage to prevent hacking. In addition, on dollar balances, the exchange provides $250,000 in FDIC insurance.
Customer support at Crypto.com can be reached through email, live chat, and a help page. Crypto.com listed 0x (ZRX) on May 23, 2019.
Pros & Cons of the Crypto.com platform:
- 250+ cryptocurrencies
- Separate NFT platform
- No fees to send crypto to others via mobile app
- Upto 8% cash back via its own Visa card
- Price alerts
- Upto 14.5% p.a. interest earnings
- Competitive fee
- Tax support available
- Pay more for lower balances
- Not available for New York residents
- Limited services for US platform
- No customer service via phone
- No crypto to crypto trading
Your Capital is at Risk
3 – Bybit
Bybit is a peer-to-peer (P2P) cryptocurrency derivatives exchange that aims to break into the rapidly growing cryptocurrency margin and leverage the trading market. When Bybit went public in March of this year, it quickly became a major player in the cryptocurrency trading industry and began accepting customers.
Only a few types of cryptocurrencies can be traded on the exchange, but they can be leveraged up to 100 times. This means that people from all over the world can trade these goods in exchange.
Bybit, based in Singapore, is a crypto-to-crypto exchange that does not require customers to go through onerous KYC verification and presently generates up to $1 billion in daily trading.
Founders: The company was started in March 2018 by Ben Zhou. Before becoming the exchange’s CEO, he was the general manager of a forex brokerage firm called XM.
Leveraged trading: Bybit Exchange specializes in perpetual futures with 100:1 leverage. This indicates that they seek to compete with existing exchanges such as Binance and Phemex, which provide non-expiry futures contracts.
Key Features
Other essential features include:
- 1 Click Coin Swaps – Within their accounts, users can quickly switch between supported coins.
- 100,000 TPS per contract – 10 times the industry average, resulting in no overloads.
- Leverage up to 100x – Bybit’s generous leverage system allows for increased profit potential.
- Cold Wallet Storage/Manual Withdrawals – Bybit uses cold storage and three daily manual withdrawals to improve security.
- Unlimited Withdrawals – Platform users can make virtually unlimited trades and withdrawals.
- There is no KYC– Accounts can be created and managed using only an email address and a username.
Fee – Market takers pay 0.075 percent, while market makers pay -0.025 percent. Thus, when a market maker opens a trade, they will be compensated. This low fee encourages market makers to be active and fill the order book.
Pros & Cons of the Bybit platform:
- Up to 100x leverage on crypto
- Advanced tools supported by great technology
- Risk-free test environment to learn and experiment
- Educational resources
- Not available in the US
- No copytrading
Your Capital is at Risk
4 – Binance
Binance is a big name in the world of cryptocurrency as it has the world’s largest number of daily transactions. It is for people who already know a lot about cryptocurrency and only deal with cryptocurrency and digital assets.
It offers relatively low trading fees and a wide selection of cryptocurrencies for trading globally. However, the trading options in the US are limited. The platform is currently under investigation in the US due to some regulatory issues, although it is very appealing due to its low fees.
The main focus of Binance is cryptocurrencies, and it offers more than 500 digital assets to trade-in. Binance has the most appealing features: lowest trading fees, secured funds, extensive charting options, zero-fee purchase, and efficient customer support. In addition, it delivers complex security functions to its clients through the Secure Asset Fund for Users (SAFU), which allows 10% of all trading fees received into the SAFU to protect its users.
Fees: It charges trading fees of only 0.10%, which can further be reduced to 0.025% by holding its native token BNB in its wallets. Another unique feature of Binance is its “earn program,” which enables its users to grow their crypto funds by locking them for a period of time.
While opening the account, Binance requires two-factor authentication verification. This “know your customer” (KYC) process was made compulsory to open an account after the crypto exchange failed regulation. Instead, it supports payment options like bank transfers, debit or credit card payments, PayPal, and peer-to-peer.
Binance listed 0x (ZRX) on September 11, 2017, and opened trade for multiple cryptocurrency pairs, including ZRX/BTC and ZRX/ETH. On June 23, 2020, it launched the ZRX/USDT contract.
Pros & Cons of the Binance platform:
- Approximately 500 cryptocurrencies can be traded.
- Broader selection of altcoins
- Additional staking options—Binance Earn feature
- Professional traders have access to all of the chart indicators they require.
- Trading leveraged margins-long or short
- Numerous transaction types are available.
- US customers can’t use the Binance platform, and the Binance.US exchange is very limited
- High fees for credit card deposits
- No copytrading
Your Capital is at Risk
5 – Coinbase
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam and served around 60 million verified users and 8000 institutions with more than 134,00 ecosystem partners worldwide.
It allows active traders to purchase, sell, or hold more than 100 cryptocurrencies. It also provides a range of investment options for businesses and institutions, including crypto storage, commerce services, and more. The company also recently went public through a direct listing on the Nasdaq exchange.
Coinbase is currently one of the most popular options available for buying and selling crypto in the US. It hosts over $180 billion in assets on its platform and continuously adds cryptocurrencies every week. It offers two trading platforms; Coinbase and Coinbase Pro. Coinbase is one of the most secure cryptocurrency exchanges in the market. It offers security features like Two-Factor Authentication, Cold Storage, Crypto vaults, Digital wallet, and FDIC Insurance up to $250K. Customer Service includes email support and 24/7 phone support.
The standard platform is perfect for beginners who are new to cryptocurrency investment. The platform offers educational videos and a simple-to-use mobile app for trading cryptos. While Coinbase Pro is well-suited for more advanced traders, which provides advanced charting, more orders, and lower trading fees, it supports a wide variety of payment options like bank transfer, Debit/Credit cards, wire transfer, ACH transfer. Purchases can also be made by using one crypto for another.
On the Coinbase Pro exchange, you can create your limits or market orders for ZRX. Coinbase charges user fees on almost every transaction, including deposits, purchases, trades, exchanges, and transfers. The maker/taker cost is 0.5 percent until you trade $10,000 in volume in 30 days, after which it is 0.35 percent. If your 30-day trading volume is more than $300 million, you can trade for free in crypto. Maker costs for limited orders aren’t charged.
Coinbase listed ZRX back on October 11, 2018, with open trade for trading pairs like ZRX/USD, ZRX/BTC, ZRX/EUR.
Pros & Cons of the Coinbase platform:
- Trade against the US Dollar, GBP, or EUR rather than USDT
- Well-known and trusted by US regulators
- Instant deposits and withdrawals to/from bank account
- Remember to use Coinbase Pro for lower fees
- Coinbase is best for beginners
- Banks accounts can be linked
- Support for a large number of cryptos
- Insured cryptocurrencies
- Higher maker / taker fee than Binance unless your trading volume is very high
- Coinbase Pro website is slow and lacks chart indicators
- Less customer support
Your Capital is at Risk
6 – KuCoin
KuCoin is the third-largest cryptocurrency exchange by market cap, and unlike other exchanges, it only trades in cryptocurrencies. It was launched in May 2017 by Johnny Lyu, who had previously worked on projects like iBox and Ant Financial.
Kucoin has over 8 million users and offers services to more than 200 countries. However, this exchange is not licensed to work in the US. So, other exchanges like Binance and Coinbase are recommended for US customers.
It is a platform that offers trading in about 431 different cryptocurrencies. Users can choose different payment methods, including bank cards, wire transfers, and PayPal. Opening an account on this platform requires a KYC process. The unique feature of this exchange is that it keeps its clients up-to-date with the latest news in the crypto sector. It claims to be one of the world’s most sophisticated security technologies. It also provides 24/7 customer service to its clients through email and Live Chat.
Kucoin has a simple fee structure as it charges 0.1% on maker and taker for less than 1000 KCS in balance. The fees depend on how many trades have been made over the past 30 days. The 30-day trading volume is measured in BTC rather than USD. For US citizens who cannot directly deposit into the Kucoin account, the fees range from 3.5% to 5%. The withdrawal/transfer fees depend on the specific coin.
Kucoin is one of the very few exchanges that offer a margin trading feature. Moreover, it also allows its users to lend their cryptocurrency holdings to others for interest. Users can also apply trading bots with a nominal fee on this platform.
Kucoin listed ZRX on its exchange on August 30, 2018 with the trading pairs ZRX/BTC and ZRX/ETH.
Pros & Cons of the KuCoin platform:
- User-friendly exchange
- Low trading and withdrawal fees
- Vast selection of altcoins
- Ability to buy crypto with fiat
- 24/7 customer support
- No forced Know Your Customer (KYC) checks
- Ability to stake and earn crypto yields
- Complicated interface for newbies
- No bank deposits
- No fiat trading pairs
Your Capital is at Risk
7 – Bitfinex
Bitfinex is among the oldest cryptocurrency exchanges, founded in 2012, and was designed for professional and institutional traders by Giancarlo Devasini and Raphael Nicolle.
Bitfinex was one of the first crypto exchanges to offer peer-to-peer margin trading and is considered an ideal platform for experienced traders looking for advanced options with relatively low fees.
Given its history, Bitfinex has ramped up security and now supports two-factor authentication (2FA). 99.5% of user funds are held in multi-signature cold storage. It also employs several back-end security features like DDoS protection and real-time data backups. In addition, it offers 24/7 customer support through email tickets and lacks the live chat feature.
itfinex – Is it regulated?
Bitfinex Securities Ltd., a provider of blockchain-based investment products, has created a regulated investment exchange (Bitfinex Securities) in the AIFC to improve members’ access to a diverse variety of financial products. As a result, Bitfinex is completely unregulated. The firm’s headquarters are in Hong Kong, and the company is registered in the British Virgin Islands.
Fees and deposit limits – The fee structure of Bitfinex is competitive but not the lowest in the industry. Small trading volume transactions are charged between 0.1% and 0.2% per trade, but those with larger trading volumes end up paying zero trading fees. Some discounts are available for holders of USDt LEO in their accounts.
Bitfinex accepts deposits in the form of fiat currencies and cryptocurrencies. Unlike other exchanges, it supports fewer payment methods, as it only accepts Master Card, Visa, and Union Pay. It charges 0.1% maker fees and 0.2% taker fees.
Withdrawal fees – Bitfinex charges a 0.1 percent fee for bank transfer withdrawals. If you need money in less than 24 hours, you can pay a 1% expedited fee. On the other hand, Bitcoin withdrawal costs differ based on the coin.
Bitfinex listed 0x (ZRX) on February 22, 2021, and offered trading in ZRX/BTC, ZRX/USD, and ZRX/ETH.
Pros & Cons of the Bitfinex platform:
- Established since 2012.
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Suitable for experienced traders.
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Over 100 coins are supported.
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Bank wire deposits and withdrawals are accepted.
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There is no regulation.
-
US citizens are not accepted
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Expensive trading fees
- Hacked on more than one occasion
- Support team only available via email
Your Capital is at Risk
What is 0x (ZRX)?
0x is a cross-chain infrastructure protocol that facilitates the trading of ERC-20 tokens and other assets without intermediaries. The native token of protocol ZRX is used to power the 0x platform, and it is very easy to integrate into many applications. The digital token ZRX was introduced in 2017 by the organization 0x Labs.
Initially, the token was used to vote on protocol updates and pay trading fees for transfers using the protocol. However, after the version 3 upgrade in 2019, the project added a new staking feature for liquidity providers to receive tokens as a reward. So far, the network has paid more than $1 million in fees to ZRX holders and market makers.
The protocol offers four products: 0x API, Matcha, Extensions, and Governance. On January 11, 2022, the protocol announced that its free-to-use 0x API service was available on the Optimism network. The 0x API was used by businesses to power their DeFi applications across a growing number of blockchains, including Ethereum, Avalanche, Polygon, Fantom BSC, and Celo. The 0x API makes it easy for DeFi developers to tap into fast and reliable aggregated DEX liquidity to focus on their product.
Matcha was launched in June 2020 as a liquidity aggregator that uses the 0x protocol. It searches for DEXs across different blockchains, including Ethereum, BSC, and Polygon, to enable its users to find the best prices for multi-chain token swaps all in one convenient location. Matcha also aggregates the liquidity from multiple exchanges, including Uniswap, PancakeSwap, SushiSwap, and QuickSwap. After that, Matcha combines the multiple liquidity sources into a single trade to save money and time for the users.
ZRX Major Fundamentals
- What it does: ZRX is an open-source blockchain protocol that allows the decentralized exchange of tokens and assets issued in the Ethereum blockchain. The token ZRX is used to induce users to host and maintain order books for 0x markets. It is also used to pay Relayer fees and to participate in the governance of the 0x protocol.
- Management team: Will Warren is the CEO of 0x, and Amir Bandeali is the CTO of the company. Both have an equal contribution to the creation of the platform.
- Date launched: The white paper of the project 0x was released on February 22, 2017, and the ICO of ZRX was launched on August 15, 2017.
The 0x protocol aims to provide an extensible exchange infrastructure for the entire crypto economy. Version 2.0 of 0x features new exchange models and the ability for users to tokenize almost any type of asset by using the protocol. It was made possible through the three new extension contracts, the third product offered by 0x.
Finally, the ZRX holders can vote on 0x improvement proposals. Each token is worth one vote, so the number of tokens held determines voting power. Voting occurs on the 0x website, which is off-chain and does not incur gas fees. The main aim of 0x Labs is to build a global financial system that is more efficient, transparent, and equitable than any system that has existed in the past. 0x can be used to build: a DEX for an X asset on the Y market, an eBay-style marketplace for digital goods, a market-making trading bot, a Defi protocol that needs liquidity and exchange to function, an OTC trading desk.
The ZRX token was launched with an ICO in 2017, where it raised about $24 million in capital. The dedicated team recently comprised about 30 developers, consisting of engineers, researchers, and designers, who serve to update the network and keep it running without bugs.
Is it Worth Buying 0x (ZRX) in 2024?
In 2017, the token ZRX entered the market with a $0.22 price, which climbed to $0.44 in a few initial days, but the price further reduced to $0.17 in November. The ZRX price then ended the year with some gains at $0.72. The ZRX token started 2018 on a bullish note as the price continued moving towards its all-time high of $2.53 by mid-January. Surprisingly, within a few days, the price declined to $1.42, and then, by the end of the month, the price reached $1.98.
In mid-May, the price was hovering around $1.82; in September, the price further dropped to $0.48; and at the end of 2018, it was seen at $0.31. The token then continued its bearish momentum for the next year, dropping to $0.16 in September 2019 and recovering a few pips over the next few days, but bears eventually took control, and 2019 ended at $0.19.
Price History from 2020 – 2022
The token ZRX recovered some momentum to reach $0.32, but due to a market crash during the COVID-19 outbreak, the price of ZRX again dropped to $0.14 by mid-March and regained momentum in August, reaching $0.71, only to fall back to $0.35 by the end of the year.
Since its launch, 2021 was the best year for ZRX, as the coin experienced massive gains this year. The coin started the year on a bullish note and continued rallying for three consecutive months to reach the $1.93 level. In April 2021, the coin reached the closest to its all-time high at $2.33, but the token started declining right after and dropped to $0.67 in May. The following month, June, was also not in favor of ZRX as it dropped to $0.53. However, the coin started recovering and reached $1.65 in October 2021.
Since then, the token ZRX has continuously declined, ending 2021 at $0.80. The first month of 2022 has also been negative for the token, just like it has been for every other cryptocurrency due to the market crash. ZRX is currently moving at $0.57 with minor daily gains. In the past 10–days, the crypto token ZRX has made little gains and is showing signs of reversal.
2022 has been a mixed year for Ox (ZRX) as the token-powered NFT marketplace of Coinbase. Following the announcement of its partnership with Coinbase, its price went up by more than 47%, and it traded around the value of $1.09 with a market capitalization of almost $1 billion. Nonetheless, the token lost its momentum towards the latter half of 2022, when it closed the year with a price of around $0.15.
What to Expect in 2024?
Given its volatile price history, it can be said that 2022 was a phenomenal year for the 0x token. The protocol developed extensively as progress was made in the tech behind the platform, network adoption, ecosystem growth, decentralized roadmap, and efficient team building.
Crypto has been on a rising trend as it has shown an increase in the recent past. The current circulating supply of this crypto is 847.5M ZRX, and its market capitalization is $212.0M. The DeFi craze may cause the 0x price to increase further and lead to widespread usage among users and investors. Considering its present growth rate and strong fundamentals, it is expected that 0x will be a good investment avenue in 2023.
Will the Price of 0x (ZRX) Go Up in 2024?
The 0x protocol has been making significant progress in the cryptocurrency industry regarding adoption, integration, and development. The crypto ZRX started the last year by announcing its API integration into the Optimism ecosystem.
Optimism represents an exciting opportunity to expand the reach of the 0x protocol as well as 0x API partners to a large and growing global user base. Before this, the 0x protocol announced a partnership in December 2021, with Celo to allocate $4.5M, consisting of $3 million CELO and $1.5 million ZRX, towards the growth of 0x’s ecosystem through its community-centric DAO. The 0x protocol volume reached nearly $120 billion in December, with more than 2.3 million traders onboard and 31 million trades. This growth could be attributed to the newly launched support for Avalanche.
In December, the 0x protocol also announced that it had expanded its limit orders to Polygon and Binance Smart Chain. The 0x Limit Orders were previously only available on the Ethereum blockchain. In addition, the multi-chain limit orders of 0x added further support to the growth of the protocol.
Several new integrations were also welcomed into the 0x API ecosystem, including FloorSwap, AstroSpaces, Polygon Token Swap, Tally, Vaportrade, and many more. The increased number of integrations on the demand side, along with the rising number of partnerships for liquidity providers on the supply side, holds great potential for the success of the 0x protocol in the coming months.
ZRX has a lot of utility; therefore, investing in this cryptocurrency could be a profitable decision in the long run; however, it also depends on a lot of facts in its specialized market. As 0x is linked with Ethereum, a rise is possible whenever ETH increases, as well as when DeFi does. The 0x Protocol version 4 is also used to power multi-chain NFT swaps.
As far as the price of ZRX is concerned, some experts are of the opinion that it would touch the maximum price of $0.39 in the year 2023. The average value of this crypto will be around $0.32 throughout this year. Considering these figures, it can be anticipated that 0x will go up this year.
To name a few, the techies have various opinions and predictions on the ZRX price and market cap:
Wallet Investor: According to our projections, a long-term increase is expected; the 0x price forecast for 2026 is $3.584. Revenue is expected to be around 341.39 percent after a 5-year profitable investment.
Trading Beasts: ZRX coin has a bright future among crypto assets on the long-term investment radar. It may be marginally impacted, but bulls will return to trade, and its 0x price could skyrocket to an average of $1.010 by 2024.
PrimeXBT: ZRX/USD is performing well due to the overall bull market, which should eventually push the cryptocurrency to new highs. We think that if this happens, the high for 0x will be around $22 by the end of 2025.
CoinSwitch: ZRX has the potential to move up the market capitalization ladder. Within the next five years, ZRX will have a high number of partnerships and integrations, making it a user-friendly cryptocurrency. In five years, ZRX could be worth $9.125.
Digital Coin Price: According to 0x price predictions and the DeFi boom, the ZRX price could reach $0.9291 in a year and $1.51 by the end of 2025.
Tokeneo: 0x ZRX may achieve one of the top 30 market cap growth positions this year, and the 0x price-performance may be thoroughly maintained even throughout the year with a 258 percent increase.
GOV Capital: Based on the current price momentum, the price of 0x may reach around $5.2371 by the end of five years, according to our ZRX forecast and latest developments news updates.
When you’re considering an investment, follow these things:
Once the cryptocurrency is selected for investment, the following things must be considered while going further with ZNX buying.
1. Rely on your Own Research
The digital asset market is new to everyone, so it is advised to rely more on your research rather than falling for investment strategies of so-called market experts or social-media influencers. There is no doubt that the cryptocurrency market is highly speculative, but chalking own strategy after thorough research about one asset can prove less risky.
2. Keep your Patience
There is no limit to the cryptocurrency market’s volatility, and in such a highly volatile environment, investors must not lose their patience. Therefore, it is advised to crypto investors to keep their cool despite all the swings occurring in the market, as it will only help them make good decisions.
3. Use a New email ID
Cryptocurrency trades are executed through different platforms that require creating an account using an email ID. It is advised to create a separate email ID only for cryptocurrency trades and investments. It will help avoid the risks of a data breach.
4. Understand Crypto Wallets
Cryptocurrencies can be stored in offline as well as online wallets. However, new investors are advised to use online wallets; they are prone to hack. Before investing, investors should read upon both wallet types and choose one that best suits them.
5. Gather knowledge about tax on cryptocurrency
The cryptocurrency market is new and is unregulated in most countries. Trading in cryptocurrency could result in heavy taxation, and the investor must read all about tax on cryptocurrencies in his homeland before starting investing.
6. Do not blindly jump on the crypto bandwagon
Cryptocurrency has gained much traction lately and is becoming popular as more and more people are diving into investing and trading in the sector. However, it does not mean that everyone should blindly jump on the cryptocurrency trend just because everyone is doing the same. Before investing, always assess and choose stock of your personal choice.
Buying 0x as a CFD Product
Contract for Difference (CFD) trading is a method that allows individuals to trade and invest in an asset by entering into a contract with a broker rather than opening a position directly in a specific market. CFD trading is popular as it offers many advantages not provided in direct trading, like access to overseas markets, leveraged trading, short selling, and many more.
Typically, the first exposure to cryptocurrency is limited to holding the token in wallets rather than purchasing the actual cryptocurrency. However, this procedure has its downsides, like a slow execution, an unregulated market, being prone to hacks, compromised wallets.
Trading cryptocurrencies can easily replace all these concerns via CFDs. It allows fast trading experience, which is very useful for a volatile market and comes under a regulated market by the Financial Conduct Authority (FCA). Therefore, people who trade CFDs on any cryptocurrency are regulated the same way as people who trade typical Forex.
Many ZRX CFDs are available on different exchanges in the financial and crypto markets, including ZRX/USD, ZRX/USDT, ZRX/BTC, ZRX/ETH, and ZRX/EUR.
We suggest looking for buying and selling altcoins with leverage on Binance or CryptoRocket.
Binance now supports more cryptocurrencies including ZRX. CryptoRocket presently supports about 40 other currencies. At the moment, Cryptorocket doesn’t support ZRX, but they are continually adding more coins. So, let’s keep an eye on CryptoRocket
Likewise, we also suggest Libertex for margin trading. Libertex may list a ZRX trading pair on its trading platform given its popularity.
Your Capital is at Risk
Taxation on REN Earnings
Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and 0x (ZRX) are treated as property while calculating taxes. The Internal Revenue Services (IRS) treats all cryptocurrencies as capital assets and charges capital gains tax rules n earnings from cryptocurrencies.
The amount of capital gains taxes depends on whether the cryptocurrency has been held for a year or less. Profits from less than 12 months holding of cryptos are subject to short-term capital gains rates equal to the regular income tax rate. However, gains from more than one year of holding a cryptocurrency are taxed at a long-term capital gains rate, depending on taxable income.
Furthermore, the capital loss claim rules are also similar for cryptocurrencies, and it means if the sale of cryptocurrency resulted in a loss, then the tax filer can also claim a capital loss. However, there are some additional rules for cryptocurrency taxes.
How to Get Ready for Tax Season if You Have Crypto?
The following things should be kept in mind while filing tax Form 1040 for cryptocurrencies.
1. Keep Records of All Transactions
Record all cryptocurrency transactions is a must while filing for tax returns, including the amount paid for acquiring cryptocurrency. The time duration for which the crypto was held and the amount for which it was sold, and receipts for each transaction is also required.
The data about transactions can be obtained by the crypto exchange, which will be helpful for 1099-B reporting. However, exchanges might not help you provide the records of cost basis or the original amount paid for the crypto if the coins have been transferred offline. This issue can be resolved by using various online software, so before filing for crypto tax, you must keep a complete record of all transactions.
2. Fill Out the Proper Tax Forms
The next step is to fill out certain tax forms depending on the use of crypto.
- Form 8949: it requires every purchase and sale of crypto as an investment, including a total number of coins, the date, purchasing price, selling price, gain/loss for each transaction.
- Schedule D summarizes total capital gains and capital losses from all investments, including cryptocurrencies.
- Schedule C: specific for crypto mining; disclosure of receiving of coins from mining, whether they are received from crypto mining business or just a hobby. In a business case, you will owe self-employment tax.
- Schedule 1: if crypto mining was reported as a hobby, it would be reported on Line 8 of Schedule 1. it will be exempt from self-employment tax and limit the deduction as an expense.
Hire a Professional
Cryptocurrency tax preparation might be complex for most people, especially when the laws surrounding the whole market are constantly evolving. For example, the taxpayers who have made a substantial income from crypto are advised to hire a certified public accountant with a tax specialty. Hiring a professional could end up in favor of a taxpayer.
How to Minimize Crypto Taxes:
This section will help people who think they might owe cryptocurrency taxes in the future. Following ways can be adopted to minimize the crypto taxes:
1. Hold Cryptocurrency for Long-Term
Holding a cryptocurrency for a year before selling can qualify the earned profit for the preferential long-term capital gains rate. It can almost reduce the tax rate by half depending on the taxable income. The maximum rate of 37% for short-term gains can be reduced to just 20% in the long term.
2. Offset Gains with Losses
Like investment, crypto gains can be offset by claiming losses on other investments in the same year. For example, if you earn $10,000 on the sale of bitcoin and lose $10,000 for selling Ethereum, then you do not owe any tax this year. On the other hand, if a person substantially loses more than he gains in a year, he can deduct up to $3000 in the excess losses.
3. Mining Expense Claims
Cryptocurrency mining comes with expenses, including computers, servers, electricity, and internet services. A crypto miner can deduct these costs against his mining income, but they depend on whether he categorizes his operations as business or hobby.
4. Donate to Charity
Another way to reduce the tax burden is to donate the extra crypto to charity. The resulting deduction will be equal to the full value of the donated crypto, including any gains. However, this only works if the donation has been made to charity.
In the United States, how are crypto-assets taxed?
The crypto income from crypto transactions will be taxed based on short-term and long-term holdings. The short-term capital gains can range from 10% to 37%, depending on total income. The long-term capital gains tax rate ranges from 0% to 20%, depending on total income. However, if the asset is considered collectible, it could cost about 28% of the collectible capital gains tax rate.
Automated Trading With Robots
Apart from traditional trading, trading can also be done through automated trading bots. They establish specific rules for trade entries and exits and automatically execute the trade. For instance, it is said that many platforms report that 70% to 80% or more of the shares traded on the US stock exchanges come from automatic trading systems.
A crypto robot is a computer program that performs all of the responsibilities of a professional trader on cryptocurrency exchanges. Trading robots have been proven to be more efficient during periods of substantial market volatility than humans. Bots tend to use trading strategies that are programmed to result in profits even when the market is going down.
How Cryptocurrency Robots Operate
Traders can subscribe to trading bot programs that are free to use to aid in their cryptocurrency trading and get bots with user fees, which can be considerable. Usually, investors will download a code from the trading bot developer after assessing which bot will be useful for them. Then the investors will set up their bot on the exchange where they want to use it.
While there remains an ongoing debate about whether trading bots should be permitted in cryptocurrency, some traders have started using them. However, one must keep in mind while using bots that they are not a get-rich-quickly solution or a tool that once used will only provide winning trades.
Despite all the advancements, traders still need to put in some time, effort, and knowledge necessary to make a successful trade. Regular monitoring of trading bots to avoid losses is required in a highly volatile market. So traders must know how to use them and have complete knowledge of them.
0x Mining: Can You Mine ZRX?
No, the native token ZRX cannot be mined as the platform uses a proof-of-consensus protocol. However, this does not mean that users can not get rewards while owning ZRX coins.
ZRX holders and users can stake their tokens to participate in the governance of the platform and reward nodes for performing, completing, and canceling transactions. The tokens that serve to reward nodes are also called “relayers,” and have commercial fees for hosting an order book.
ZRX users can also get liquidity incentives for providing liquidity in the form of protocol fees. Users who take part in the 0x market are rewarded for making sure it runs smoothly.
Decreasing Risk in Ren Investment:
The following are ways to lessen the risk of investing in a very volatile and risky cryptocurrency.
Counterparty risk
Cryptocurrency markets have the highest percentage gains but still have many problems as the exchanges come with a degree of counterparty risk. The cryptocurrency exchanges are prone to hacking and losing money.
A cryptocurrency trader can never eliminate counterparty risks, but he can take steps to reduce them by:
- Not leaving coins on the exchange when not actively trading
- Only trade with 20% to 30% of your portfolio.
- Diversifying the coins among several exchanges
- Researching about exchange thoroughly to make sure about its solid reputation
Prefer quality over quantity
Overtrading is not a solution as it wastes most of the time and money. However, the key to effective trading is choosing the best suitable trading style as market conditions do not remain the same over time. For example, swing trading works best during strong trends, but automated scalping proves more effective when the markets are stable.
Investors must prefer quality over quantity while trading cryptocurrencies to choose what trading style works best for them in the prevailing market conditions.
Develop an Exit Strategy
While trading cryptocurrencies, it is highly recommended to map out your trades ahead of time by identifying key support and resistance levels on the chart. Set your profit targets by determining the risk-to-reward ratio. Traders can add to their position during a strong trend and jump out along the way by booking profits.
Traders must know about using stop loss strategies correctly to protect themselves from heavy losses if the market moves against the trade. However, it must be noted that stops are not always effective as they might cost the trade a loss during quick slippage of the market. Having a proper exit strategy is a must while doing cryptocurrency trading, as it will reduce the risk associated with the trading.
Excessive leverage is risky
The use of margin can offer higher returns and allow the flexibility of going long or short. However, if too much leverage is used, it will not give trades a chance to breathe as traders can lose their entire principal amount during the process.
Many exchanges are available in the market that offers x100 leverage, which is very risky as only 1% movement against the trade can destroy the account. The ideal leverage recommended for crypto trading is x3, as it provides enough buffer zone to tolerate a lousy trade while allowing you to increase the gains.
The longer a trader wants to hold a trade, the less leverage he should use.
Avoid Hype
Half of the trade battles can be won by managing emotions and being objective, as fear of loss is a trader’s worst enemy. Traders can sometimes become too greedy and buy at the top or panic sell and end up crashing out at the bottom. Managing emotions and avoiding the hype can reduce the risks involved in crypto trading.
0x Price Predictions: Where Does ZRX Go from Here?
This guide will give you an idea of the ZRX price prediction for 2023-2025 and its predicted rise based on technical analysis and fundamental price history. This analysis will paint a clear picture of the future for price increases. Furthermore, you will learn about ZRX’s future.
0x Price Prediction 2023
Regarding the price of ZRX, several analysts predict that it will reach its highest level of $0.39 this year. Throughout this year, this cryptocurrency will typically be worth $0.32.
0x Price Prediction 2024
The average price of ZRX is estimated to be around $0.65 in the year 2024. It can even go up to the figure of $0.75 if the crypto performs as per its complete potential.
0x Price Prediction 2025
With widespread usage, ZRX is projected to experience an exceptional price increase by 2025, reaching an estimated $0.89. The average price of ZRX is expected to be around $0.85 in 2025.
Summary
The platform 0x has plans to be faster than its competitors. It allows its users to swap between assets and tokens for the use of Ethereum-based Dapps without the need to lock tokens on the blockchain and generate gas fees, unlike most decentralized exchanges. The goal of 0x is to enable its users with more effective use of the Ethereum ecosystem without having to go through exchanges.
Currently, exchanges force the token holders to trade in either BTC, ETH, or USDT. This left the user with no choice but to further trade these coins for the new token they wanted to buy. In this way, the cryptocurrency exchanges generate multiple transaction fees, in both directions, for getting tradeable tokens on and off the exchange. This act of trading assets numerous times generates additional trading fees.
Here comes the 0x platform, with plans to do all this in one transaction with an atomic swap by leveraging the functions built into the Ethereum blockchain. For instance, 0x uses smart contracts on the Ethereum blockchain to facilitate the peer-to-peer trustless exchange of one token or asset for another between users. This avoids third-party fees, lowers the transaction cost, and reduces network traffic, which eventually removes the need to pay high fees to cryptocurrency exchanges.
All these effective means can be accessed if you hold the ZRX token, an ERC-20 token. To buy ZRX, we recommend using the Huobi platform. The buying process of this token at Huobi is very simple as it requires only 3–4 minutes.
Your Capital is at Risk
FAQs
Any risks in buying 0x now?
The prices of ZRX/USD are near their lowest levels, and it might be the best opportunity to enter the market. However, given the high volatility associated with the whole crypto market, there is always a potential for reversal. So, cautious trading is advised to investors interested in buying ZRX/USD.
Should I buy ZRX?
ZRX is not the riskiest coin to invest in due to the rising number of partnerships, developments, and available funding. The returns could be modest from investing in ZRX; however, we do not see a 100x price increase anytime soon.
Is it safe to buy ZRX?
The token ZRX is used to reward relayers with trading fees for hosting an order book. It also provides its holder with a right to vote on the protocol upgrade and developments because it is a governance token. Besides, investors can easily convert them into leading crypto pairs to spend online.
Will 0x ever hit $10?
Given the price momentum of ZRX/USD, it's highly improbable in the near-term and long-term that 0x could reach $10. However, its price is expected to hit $5 by the end of 2025. Nothing is sure in the cryptocurrency world as it is highly speculative, so better to be ready for anything.
