What is an ZRX wallet?
0x is an open protocol designed to offer a decentralized exchange where any ERC20 tokens can be traded on the Ethereum blockchain. 0x is made using a protocol that involves Ethereum smart contracts to make token trading with off-chain transactions more efficient.
In 2017, the team issued a unique token based on the Ethereum blockchain - ZRX. ZRX token is used for paying trading fees to ‘Relayers’ for their services. Relayers are developers who create a decentralized cryptocurrency exchange using the protocol.
In addition, ZRX owners have the authority (proportional to their holdings) to say how the protocol should be developed over time. They can also use the token to vote on decisions that concern the 0x protocol’s upgrade system.
0x was created with the purpose to enable a world that allows for every asset’s representation as a part of the Ethereum blockchain. More specifically, these assets could be everything from digital game items, to stocks, to gold and fiat currencies. The team behind 0x believes that there will be thousands of tokens from Ethereum in the future and that 0x can provide the best possible and trustworthy way to exchange them.
Before buying any ZRX token, you will need to choose a secure ZRX wallet for managing or trading your assets. ZRX is an ERC20-based token, so any Ethereum wallet will support 0x.
Which ZRX Wallet should i download?
HB Wallet is one of the best ZRX wallets to manage your funds.
HB Wallet is a multi-platform and non-custodial wallet that allows you to send, receive and exchange ZRX and other digital currencies seamlessly and securely. Since the wallet is decentralized, you are the one who has full access to your funds. All you need to do is to keep your private key in a safe place.
To start using a ZRX wallet, simply download HB Wallet to your smartphone or PC.
Download HB Wallet
1. Open the application. Then tap on ‘Create a new wallet’ or ‘Restore your wallet’ using the backup phrase.
2. If you choose to create a new wallet, your wallet will automatically generate a backup phrase and propose you to copy it. It’s best to write it down on a paper and store it in a secure place. This passphrase is used to restore your wallet. It will help in case your PC has issues or gets robbed.
Keep in mind that every wallet address for your assets is generated from the passphrase.
3. Now your wallet is ready to use. To add ZRX to your wallet, access the Menu. Then tap on ‘Search token’.
4. Select the ‘ZRX’ token card. Then tap on ‘Add to wallet’ to add it to your main wallet screen.
5. For quick access, swipe up the main wallet screen then select the ZRX card to start sending/receiving ZRX token.
Zrx price prediction
Disclaimer: The views and opinions expressed here are solely for informational purposes. Every investment always involves risk. Readers should conduct their own research when making a decision.
Apparently, an increase in usage of 0x protocol means a higher demand for ZRX tokens for governance voting and for staking, both of which can drive the ZRX price up.
After it reached $0.50 right after the end of its ICO, ZRX slowly decreased to ~$0.20 where it stayed all through 3 months afterward, a period when most altcoins were growing.
On Jan 14, 2018, ZRX reached its all-time high of $2.26 USD.
As of August 29, 2019, ZRX is the 60th largest cryptocurrency in the market in terms of valuation. Each ZRX can be traded at $0.15. Although 2019 was a good year for Bitcoin, other virtual currencies didn’t perform as expected.
At the time of writing, ZRX is exchanged at $0.14 (March 16, 2020).
Although the price of 0x continues falling, other currencies in the market are experiencing a similar situation. The whole altcoin market is down in terms of BTC and it may take a while, at least another 6 months before it recovers from the current situation.
Looking at the bullish scenario, the Bitcoin halving is only 57 days away. It’s expected that soon any Bitcoins entering the market will be doing so at a much higher rate than the current price as they will have a higher production cost. It’s likely to trigger one of the most impressive bull runs that we have ever witnessed, and it can become a possibility as people attempt to regain their losses by speculating on altcoins again.
Keep in mind that ZRX is a token that is widely listed and very easy to buy with fiat. ZRX also gets listed on Coinbase as a token you can buy or sell directly with needing to use their Pro or Prime interfaces, and available to US-based users. Accordingly, if the crypto market can recover from the current downtrend, ZRX's price towards $0.3 in 2020 is possible.