0x is a protocol that allows you to trade tokens on the Ethereum network. It is described as a decentralized exchange. There has been quite a bit of hype surround 0x (zrx) recently, so I wanted to put together a post on why it might be a good investment and where you can easily buy it online.
Why is 0x Valuable
0x is aiming to create a future where all types of assets including tokens, stocks, bonds etc can be traded on the blockchain using a decentralised exchange. At the moment, you can already use zrx to easily exchange tokens.
Decentralising exchanches is a big deal. Many people are concerned that exchanges hold too much power. If an exchange is hacked or just disappears, it could seriously hurt the entire crypto economy. So a decentralised exchange fixes this – it’s owned by no one and can’t be manipulated or controlled.
There are already a number of decentralised exchanges. But what makes 0x different is that a lot of the exchange happens off-chain. Order relays occur off-chain using 0x and not on the ethereum blockchain. This saves a lot of Gas fees making exchanges cheaper for people. Ethereum has been suffering from some scaling issues recently. And while these will no doubt be fixed over time, 0x fills in the gaps by not running everything through ethereum.
The ZRX coin is used to pay fees on the 0x protocol. So everytime someone exchanges tokens on 0x they pay a small fee using ZRX. So if more people start using 0x the value of the coin should rise as well.
The Easiest Way to buy ZRX
Here are a couple of different options for investing in ZRX
Coinspot is my favourite place to buy ZRX. They support POLi deposits which let you make an instant bank transfer. This makes buying cryptocurrency both instant and really easy. And you don’t have the same high fees of other deposit options. As well as ZRX you can also buy and sell a huge range of altcoins.
Coinbase recently added support for ZRX buy/sells. This is a huge deal as Coinbase is the worlds largest seller of cryptocurrency. When Coinbase added support for the currency, the price instantly and predictably jumped up. This is because Coinbase brings cryptocurrency to the masses.
You can buy ZRX using a credit card on Coinbase. You do pay a small fee.