How to buy Zilliqa coin online

ZIL is the native coin of Zilliqa, a pioneer platform for fast, scalable blockchain technology. Find out about the history of the project and how to buy ZIL online.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed,… read more.
Updated: May 14, 2021
Tip: our preferred broker is, eToro: visit & create account

This guide introduces you to the Zilliqa platform how it all works. It explains the history of the project and its future outlook as an investment prospect.

Compare where to buy Zilliqa coin, and open an account

If you want to invest immediately, you can use one of the recommended brokers below. Otherwise, keep reading to find out about Zilliqa and how it works.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$20
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Our score
9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
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Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
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Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
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3
Min. Deposit
$10
Exclusive promotion
Our score
8.7
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
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LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

What is Zilliqa?

Zilliqa works in a similar way to Ethereum, and its ZIL coin is used for peer-to-peer transactions or to reward contributors to the platform. Zilling (ZIL) is the cryptocurrency that powers the Zilliqa platform.

Zilliqa was the first blockchain with ‘sharding’ technology to become publicly available. Sharding carries out transactions much faster than original blockchains because it divides up the work required.

Although Zilliqa was the first, there are now a lot more platforms that use sharding. The extra competition has prevented ZIL from gaining value to the same extent as other cryptocurrencies. It hit its all-time high of $0.18 in May 2018 but quickly fell from that level, then spent most of 2019 and 2020 below $0.01.

How does Zilliqa work?

ZIL coins are used on the Zilliqa platform to pay for transactions, validate smart contracts, and can be staked to earn interest. ZIL offers a high yield for staking – up to 6% annually – to encourage people to hold on to their coins.

Zilliqa was the first of many platforms to use sharding to make the blockchain scalable. Sharding is a technique of dividing up blocks so they can perform transactions independently and at the same time, before bringing them together again to add a full block onto the end of the blockchain.

With sharding, platforms can process transactions exponentially faster. Zilliqa can perform many thousands of transactions per second, and the extra speed opens up blockchain technology to a whole range of different uses. The Zilliqa platform has already been used for finance, gaming, and advertising applications.

How to buy ZIL online – a step-by-step guide

Step 1. Find an exchange

The best place to buy Zilliqa in the UK and elsewhere is on a crypto exchange, which is essentially an online marketplace for cryptocurrencies.

You can visit either of the exchanges below to get started:

Step 2. Sign up and fund your account

You’ll usually have to sign up and create an account before you start trading. Each exchange is different, but you’ll need to verify your identity with a type of photo ID. This can be a passport or driving licence.

Once your account is set up and verified, simply fund it with fiat money or a cryptocurrency of your choice.

Step 3. Purchase

Now that your account is created and full of funds, you just need to find Zilliqa and execute your transaction. If you have Bitcoin in your account, that just means finding the ZIL/BTC crypto pair to finalise your trade.

Step 4. (Optional) Get a suitable wallet

A wallet lets you hold your coins securely. Most exchanges will hold your coins for you, so this step isn’t necessary. You should note that if you use an exchange like Binance it can be better to hold your ZIL there. Binance has a partnership with Zilliqa which means you can earn rewards by using its wallet.

Plenty of other websites offer wallets and here are two more worth considering:

  • Ledger Nano S: Ledger has a partnership with Zilliqa and its Nano S device is a hardware wallet similar to a USB stick. It keeps your coins in cold storage, completely offline, and protects them even if you connect to an infected computer. Get the Ledger Nano S now >
  • Freewallet: Freewallet is an online wallet that you canuse to access your coins through the browser or on a mobile app. You can hold more than 100 different coins and it comes with an integrated exchange as well. Sign up for Freewallet >
1
Min. Deposit
$1
Exclusive promotion
Our score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Cryptocurrencies
Full Regulations:

How to trade Zilliqa – a step-by-step guide

Step 1. Find a broker

The top brokers let you trade cryptocurrency as well as stocks, forex, and commodities. Make sure to check your broker offers Zilliqa before signing up, as it can be quite difficult to find one that lets you trade it at the moment. Plus500 and eToro are good places to start looking, as they have been around for a while and are easy to get to grips with.

Step 2. Deposit money

Once you’ve chosen a broker, you’ll need to put some cash down as a deposit. The process is fairly straightforward and minimum deposit requirements are usually pretty low, so you can start with a relatively small bankroll.

Step 3. Decide how you’d like to trade

There are two main ways to trade cryptocurrencies: spread betting or CFDs (contracts for difference). While there are some differences, both methods require you to take a position on whether you think the price of your chosen cryptocurrency will rise or fall over a set period of time. If you’re just starting out, it might be worth doing some research on spreads and CFDs before you jump in. 

Step 4. Start trading 

Once you’ve put down a deposit, you’ll no doubt be raring to go, but we recommend you set up a demo account with your broker before you start trading for real. It’s easy to win and lose money very quickly when trading, so it makes sense to get a feel for the platform you’ve chosen as well as the ebb and flow of the cryptocurrency market.

In essence, all you need to do is take a position on whether the price of your cryptocurrency will increase or decrease. If you think it will increase, take a long position. If you think it will decrease, take a short position.

You may opt to take advantage of leveraged betting, which is a feature of most trading platforms. Leverage enables you to put down a fraction of your trade’s total value as a type of deposit called a ‘margin’. However, this is a high-risk strategy, so it’s probably not for beginners. Experienced traders understand this and use stop-loss orders to mitigate risk. 

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA

Still undecided?

If you remain undecided, don’t worry. We’ve got some more information to help you, starting with a summary of Zilliqa’s pros and cons. After that, you’ll find a few more questions to think about that can help you make a decision.

Pros

  • Earn generous interest if you hold onto ZIL for a long time
  • A first mover in sharding technology, ahead of many competitors
  • The ZIL coin offers low-cost entry into the crypto space

Cons

Finally, here are three more questions to think about before you invest in Zilliqa.

1. Is now a good time to buy Zilliqa?

This entirely depends on your ultimate goals. If you want to get involved in the platform, there are generous rewards on offer for staking your coins. If you want to get Zilliqa as an investment or as part of a short term trading strategy, there are a few more things to consider.

You want to think about whether the current ZIL price represents an opportunity, and whether it can outperform the competition. You want to stay on top of things like any controversies that affect Zilliqa – there’s been some problems with transactions being rejected in the past – and all the latest developments. Here is our market analysis to help you:

The cryptocurrency market is advancing this Sunday, Bitcoin has stabilized around the $50000 price level, but investors should have in mind that the risk of another decline is still not over. Zilliqa, UMA, and Monero’s prices weakened from the recent highs registered in April, but these three cryptocurrencies still remain…
The cryptocurrency market is advancing this Wednesday; Bitcoin continued its surge and advanced again above the $58000 resistance level. This situation also supports Zilliqa’s price, and in less than several hours, the price of this cryptocurrency has advanced from $0.14 above $0.20. Fundamental analysis: Over 60 project teams from over…
The cryptocurrency market is advancing this Sunday, and this situation also supports the price of Zilliqa, VeChain, and SushiSwap. Bitcoin has stabilized above $47000 support, but investors should have in mind that the risk of another decline is still not over. The cryptocurrency market continues to attract institutional funds, but…

2. What problem does Zilliqa solve, and what are the coin’s investment prospects?

Zilliqa solves the problem of making blockchain technology scalable while using up less energy. It was one of the first companies to break down the barrier that had prevented the blockchain from being used for more applications.

ZIL’s investment prospects are coloured by the amount of competition it’s up against. Big name crypto leaders like Ethereum are developing their own sharding technology, while Polkadot and Algorand have gone live with their own platforms. Many of those platforms offer returns for holding coins as a way of stabilising the currency and investing in its success. Zilliqa is one of the most generous, and lets you earn rewards for any coins that are held in a wallet, not just on its platform.

Always do your research before purchasing cryptocurrency. You should dig into the competition and what the different platforms offer if you intend to hold for the long term. You can also track the latest moves in cryptocurrency here:

3. Do you want to hold Zilliqa for the long term?

How you choose to invest depends on your goals and financial needs. Zilliqa offers more benefits for holding than other cryptocurrencies but hasn’t shown much sign of substantial growth so far. Whereas many of its competitors are new to the scene and only began trading in 2020, ZIL has been available for longer. It held its initial coin offering (ICO) in January 2018, so there is more data to base your decision on.

Considerations for a long term investment strategy

If you think the Zilliqa platform can transform its position as a sharding pioneer into growth, holding ZIL as a long term investment might be a good idea. You should find an exchange and sign up.

Another benefit from investing long term is the ability to earn ZIL as interest on coins that you hold. You can earn ZIL so long as you hold your coins in one of its partner wallets. You can also earn rewards if you hold your coins on the Binance exchange.

Considerations for a short term trading strategy

Trading Zilliqa to benefit from swings in price is another viable strategy. This can be risky, but you can learn about how to use technical analysis to read price charts and try to predict market moves. If you want to trade quickly and often, you should make sure to sign up for a broker that offers low trading fees so you don’t give up too much of your money every time you make a trade.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.