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How to Buy 0x (ZRX) in the UK (2022)

Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

Looking to buy 0x (ZRX) in the UK with GBP?

In this short guide, I cover a few places where you can buy it in the UK.

Best Ways to Buy 0x Token (ZRX) in the UK

1. Coinbase Pro

Coinbase header (in blue)

Coinbase Pro is a cheap place where you can buy 0x (ZRX) in the UK.

You can deposit GBP with a UK bank transfer (via Faster Payments) on Coinbase Pro and you’ll then pay up to 0.5% in fees whenever you buy or sell a cryptocurrency.

However, you can’t buy 0x (ZRX) directly with GBP on Coinbase Pro.

This means that you’ll have to use Bitcoin (BTC) to buy 0x (ZRX) on this cryptocurrency exchange.

Unfortunately, this means you’ll pay approximately 1% in fees – as you need to make two trades:

  • 1st Trade: Buy Bitcoin (BTC) with GBP at the real exchange rate with low fees (max 0.5% fees).
  • 2nd Trade: Buy 0x (ZRX) with Bitcoin (BTC) at the real exchange rate with low fees (max 0.5% fees).

Head over to the Coinbase website to learn more.

Coinbase WebsiteCoinbase Pro Review

2. CoinJar

Unlike Coinbase Pro, you can DIRECTLY buy 0x (ZRX) with GBP on CoinJar.

It’s also much easier. They’ve made it quick and simple to use their browser interface or mobile app to buy a range of cryptocurrencies.

You can deposit GBP into CoinJar with a UK bank transfer (via Faster Payments). No other payment methods are supported right now.

There’s a fixed fee of 1% whenever you buy or sell any cryptocurrency on CoinJar. However, the 0x (ZRX) exchange rate you’re quoted seems a little higher than elsewhere. However, this is variable and will vary day-to-day.

While it is more expensive than the other two options, it’s much more beginner-friendly than either of these alternatives.

CoinJar WebsiteCoinJar Review

What is 0x (ZRX)?

0x (ZRX) is the governance and utility token that powers the 0x protocol. The token is technically called ZRX and the protocol is called 0x, but most people use the terms interchangeably. For simplicity’s sake, we’ll call the token ZRX in this article.

To understand what ZRX tokens are used for, you first need a good working knowledge of the 0x protocol.

The 0x protocol was launched in 2017 by Amir Bandeali and Will Warren, and its mission is to “create a tokenized world where all value can flow freely”. It does so by providing a platform that supports the interoperability of decentralised exchanges (DEXes) through smart contracts. 0x also provides an open-source framework for developers to create their own DEXes.

Although 0x is designed to facilitate interactions between DEXes, it’s also a DEX in its own right. 0x supports decentralised peer-to-peer trades of ERC-20 tokens through a series of smart contracts. The technology behind 0x can also be used by developers to create a whole host of platforms such as an over-the-counter (OTC) trading desk or a marketplace for digital goods.

Decentralised protocols aren’t a new invention, though, and 0x wasn’t the first platform to offer this type of smart contract functionality. But what makes 0x unique is that it uses a hybrid system that combines off-chain relay and on-chain settlements to process transactions more quickly and with lower gas fees on the Ethereum network.

ZRX tokens are an integral part of the 0x protocol. Holders of ZRX get governance votes on any proposed changes to the 0x protocol. Additionally, ZRX token holders are able to stake ZRX to provide liquidity for the protocol.

For more information on how 0x and the ZRX token operate, check out this short video:

What are the benefits of holding 0x (ZRX)?

The primary benefit of holding ZRX tokens is that it gives you governance votes within the 0x protocol. This gives you partial control and influence over the future of the platform.

Proponents of 0x argue that the value of ZRX tokens will rise in the future as the protocol becomes more popular. However, like all governance tokens, the value of ZRX is at least partially dependent on the popularity of its underlying protocol. If investors opt to use other DEXes and decentralised protocols instead, the value of ZRX tokens could fall.

In addition to governance votes, ZRX tokens also offer the potential for staking rewards.

Holders of the token can stake their ZRX in liquidity pools that help power decentralised transactions. In exchange, anyone that stakes ZRX can receive rewards that are dominated in Ethereum (ETH) and paid out in WETH. These rewards are paid out from fees collected from each trade on the 0x protocol.

Best 0x (ZRX) Wallets

Since ZRX is an ERC-20 token, token holders have many wallets to choose from when deciding where to store the private keys to their digital assets.

If you simply want to buy and store ZRX on an exchange, you can use nearly any ERC-20-compatible wallet. Some popular options include Atomic Wallet and Trust Wallet, both of which support all ERC-20 tokens.

But if you also want to cast governance votes or stake your ZRX tokens, you may want to use a wallet that supports a direct integration to the 0x staking and governance platforms. There are 2 wallets with direct integrations to the 0x protocol:

  • MetaMask: A popular choice for investors that want to access the wide world of decentralised apps (DApps), MetaMask is a streamlined ERC-20 software wallet. It’s available as both a browser extension and a mobile app so you can manage your tokens with ease.
  • Coinbase Wallet. With Coinbase Wallet, you get a non-custodial software wallet that was designed by the team at Coinbase. This wallet supports all ERC-20 tokens as well as coins from many major networks, such as Bitcoin (BTC). It’s available as both a mobile app and a browser extension. The wallet also has a built-in DApp browser and support for NFTs.

In addition to these 2 wallets, the 0x protocol supports wallet integrations through WalletConnect. WalletConnect is a third-party service that allows DApps and wallets to communicate. It’s compatible with a number of top software wallets, including Argent, Crypto.com DeFi Wallet, Trust Wallet, and Atomic Wallet.

As far as hardware wallets go, both Trezor and Ledger devices support ZRX tokens. Popular hardware wallets that you can use to manage your ZRX include:

The Trezor Suite and Ledger Live wallet interfaces both support ZRX tokens, too, so you can easily manage your assets. However, the 0x protocol doesn’t have a direct integration with Ledger or Trezor devices.

Instead, you can use WalletConnect to integrate your hardware wallet with the 0x Protocol. In addition to Ledger and Trezor devices, WalletConnect also supports the ZRX-compatible CoolWallet S and the Ellipal Titan hardware wallets.

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