Where & how to buy Zilliqa (ZIL) for beginners in 2024

ZIL is the native coin of Zilliqa, a pioneer platform for fast, scalable blockchain technology. Find out how and where to buy Zilliqa on the best crypto exchanges right here.
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Updated: Jan 26, 2024
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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.

What are the best exchanges to buy ZIL now?

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

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1
Min. Deposit
$ 50
Best offer
User Score
9.3
Log in using the app and claim the Mystery Box to receive up to $10,000 in reward
One of the top digital asset exchanges by trading volume
Serving millions of users in over 100 countries
Start Trading
Payment Methods:
AdvCash, AliPay, American Express, Bank Transfer, Banxa, Credit Card, Debit Card, Discover, Mastercard, Mercada Pago, PayPal, Payoneer, PicPay, QIWI, SEPA, Simplex, Visa, WeChat, Wire Transfer, neteller, , , , , , , , , , , , , , , , , , , , , , , , , , , skrill
Full Regulations:
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
2
Min. Deposit
$ 5
Best offer
User Score
9.0
Combines a user-friendly platform and low fees
Largest digital asset exchange in the Netherlands
Trade over 50 digital assets and pay a maximum trading fee of 0.25%
Start Trading
Payment Methods:
Credit Card, Debit Card
Full Regulations:
3
Min. Deposit
$ 20
Best offer
User Score
9.0
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Payment Methods:
Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full Regulations:

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

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Step 1. Find an exchange

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

Step 2. Sign up and fund your account

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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

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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

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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.

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

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Step 1. Find a broker

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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

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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

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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 

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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. 

Still undecided?

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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

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  • 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

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

1. Is now a good time to buy Zilliqa?

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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.

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

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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.

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

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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.

Get started with ZIL


Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.