Is ZRX A Good Investment in 2022?

What is ZRX?

With more and more investors starting to pay attention to ZRX, Bexplus Analysts take you to analyze whether ZRX is a good investment? ZRX is an Ethereum based token that is used to power 0x Protocol. 0x protocol is, however, built for the decentralized exchange on the Ethereum blockchain. It is a crustal infrastructure in the crypto economy. In addition, the primary purpose of the 0x protocol is to ensure that investors transact securely and feel safe with ZRX.

The 0x protocol allows Ethereum tokens to be traded cheaper from the investor’s wallets. Nevertheless, transactions with ZRX occurs at a fast speed. Therefore, with this protocol, one can create crypto-assets such as tokens representing other assets and tokens representing shares of bonds and stocks. Also, one can use ZRX tokens to make investment on physical real estate.

It is important to note that 0x is one of the upcoming groups of decentralized finance (Defi) protocols. The custom crypto asset, however, is used by the 0x is the ZRX. Moreover, 0x uses the Ethereum blockchain to distribute its operations and management.  

Users host and maintain order books for the markets using ZRX. Therefore, the reward for this service is that users gain exposure when fees are paid and when investors buy and sell assets on the 0x platform.

ZRX price history

2017

ZRX token entered the market in October 2017 and broke to a price of $0.20. Nonetheless, the token in November started trading at $1.192257. Therefore, ZRX hovered around $0.20 for the rest of 2017.

2018

On 1 January, ZRX was trading at $0.91439, although the token increased in price on 8 January to $2.04. In addition, on Saturday, 13 January, ZRX recorded the highest price of all time. The token was trading at $2.50. Surprisingly, this record has not been broken ever since. Additionally, in March, the price fell drastically, trading at $0.443991.

In May, the price increased to $1.70. However, the ZRX price dropped again on 27 May where ZRX was trading at $0.6. In June, the ZRX price briefly increased to $1.11. However, in September, the price fell again to $0.644497. Moreover, towards the end of 2018, the price was trading at $0.3. It seems not a great idea to take ZRX as an investment at that moment.

Is ZRX A Good Investment

2019

In January, the ZRX price started trading at $0.278892. In April, however, the rice slightly increased to $0.3558328. Therefore, this was a high price compared to August. As a result, the token traded below $0.017. Moreover, towards the end of 2019, ZRX rice improved to $0.2.

2020

The year 2020 started with the ZRX trading at $0.2. On the contrary, the price briefly increased to $0.385089 in May. Consequently, The ZRX price increased further, marking a high of $0.056830. On the whole, the price settled back to $0.323447 in December.

1 January – 1 November 2021

The year 2021 is a good year for ZRX compared to the past two years, where the price settled somewhere between $0.1 and $0.5. However, In January, things changed as the token started trading at $0.4. The price rapidly increased to $1.80 at the end of February. In contrast, the price slightly dropped, reaching $1.21. While reviewing this, it was the best moment to have an investment on ZRX.

Moreover, In April, the crypto boom affected ZRX, which started trading at $2.32. The rise marked a second all-time high after that occurred on 13 January 2018. Alternatively, the price was trading at $2.2 in May, dropping to $0.7 in July. In addition, the price settled at $1.2 in September and closed the month with $1.05.

YearMaximum PriceMinimum Price
2017$0.20$1. 192257
2018$2.50$0.644497
2019$0.3558328$0.017
2020$0.568330$0.0323447
1st January-1st November 2021$2.32$1.05

Comparison between ZRX and other cryptocurrencies

ZRX (0x) vs. Bitcoin

0x protocol is a lighting, fast-speed network that processes thousands of transactions in seconds. However, Bitcoin takes a lot of time to confirm transactions. Besides, ZRX is cheaper compared to Bitcoin. The current price of Bitcoin is $61,069, whereas ZRX is $1.22250. Moreover, ZRX uses consortium blockchain protocol. In contrast, Bitcoin is a public blockchain.

The 0x protocol is an Etherium based platform that facilitates both ERC-721 and ERC-20. For this reason, the protocol aims to improve the performance of the decentralized exchange. On the contrary, Bitcoin is a peer-to-peer payment system that makes it almost impossible for individuals to control the network. In addition, Bitcoin is limited to 21 million, while ZRX is limited to 1 billion.

ZRXBitcoin
Fast in transactionsSlow in processing transactions
Low cost of the transactionHigh cost of the transaction
Protocol: a consortium blockchainPublic blockchain
Not mineableCan be mined

ZRX vs. Binance coin

0x protocol uses ZRX as the digital asset token to pay Relayer fees. Nonetheless, Binance coin uses BNB coins. You can mine Binance coins, but you cannot precisely mine ZRX tokens. Therefore, one has to mine the other cryptocurrencies and exchange them with a ZRX token.

0x (ZRX) is indeed faster than Binance coin in transactions. Besides, it is cheaper to buy ZRX tokens compared to Binance coins.

ZRXBinance coin
Fast transaction speedSlow transaction speed
Consortium blockchainPublic Blockchain
Not mineableCan be mined
Low cost of the transactionHigh cost of the transaction

ZRX vs. Litecoin

ZRX is cheaper to purchase compared to Litecoin. Nevertheless, the transaction speed of ZRX is much higher compared to Litecoin. The protocol used in ZRX is consortium blockchain. On the other hand, Litecoin is a public blockchain. It is almost impossible to mine ZRX. Nonetheless, Litecoin is mineable.

ZRXLitecoin
Fast transaction speedSlow transaction speed
Low cost of the transactionHigh cost of the transaction
Consortium blockchainPublic blockchain
Not mineableCan be mined

ZRX vs. Ethereum

Ethereum is more popular cryptocurrency on investment compared to ZRX. Besides, Ethereum has been in the market for a long time. For one thing, Ethereum has a better utility than ZRX.

ZRX is an Ethereum based token for the 0X protocol. Ethereum, on the other hand, is an innovation of its blockchain. Undoubtedly, Ethereum (ETH) is mineable, while ZRX coin is almost impossible to mine. Moreover, the algorithm used by Ethereum is Ethash. In contrast, the ZRX algorithm is unknown.

ZRXEthereum
Fast transaction speedSlow transaction speed
Cheap to purchaseExpensive to purchase
Consortium protocolPublic blockchain
Ethereum based tokensAn innovation of its own

ZRX vs. Dogecoin

Like other major cryptocurrencies, Dogecoin is mineable. Nonetheless, mining ZRX is considered almost impossible. In particular, ZRX is a thousand times faster than Dogecoin in processing transactions. Consequently, Dogecoin is slightly expensive compared to ZRX tokens.  Furthermore, ZRX is a consortium protocol, while Dogecoin is a public blockchain.

ZRXDogecoin
Not mineableCan be mined
Fast transaction speedSlow transaction speed
Low cost of the transactionSlightly expensive to purchase
Consortium blockchainPublic blockchain

ZRX vs. EOS

It suffices to remark that EOS is faster than ZRX in confirming transactions. In contrast, cheaper than ZRX since there’s no cost for transactions. Moreover, EOS innovation provided an alternative to Ethereum due to the improved features. However, ZRX is an Ethereum based token that facilitates both ERC-20 and ERC-721. The proof of the type of EOS is DPoS. In contrast, the algorithm used in ZRX is unknown. However, developers cannot mine both cryptocurrencies.

ZRXEOS
Slow transaction speedFast transaction speed
Low cost of the transactionNo cost of the transaction
Consortium blockchainPublic blockchain
Ethereum based tokenInnovation of its own

ZRX vs Stellar Lumens

The currency used in stellar Lumens is XLM tokens, while 0x Protocol uses ZRX tokens as a digital asset. However, Stellar Lumens is a public blockchain, while ZRX is a consortium blockchain. In addition, the speed of transactions in Stellar Lumens is higher than that of ZRX. Importantly, both cryptocurrencies are not mineable.

The supply chain of Stellar Lumen is limited to 50 million. On the other hand, ZRX is limited to 1 billion. Moreover, Stellar Lumens has a higher level of decentralization compared to ZRX. In addition, ZRX focuses on improving the performance of the decentralized exchange.

ZRXStellar Lumens
Consortium blockchainPublic blockchain
Ethereum based tokenInnovation of its own
Supply is limited to 1 billionSupply limited to 50 million
Slower transaction speedVery fast in processing transactions

What do other people think about ZRX?

Traders may find ZRX festinating due to the primary objective to provide an alternative to more centralized exchange platforms. Nonetheless, a variety of wallets with integrated 0x allow investors to trade cryptocurrency within the ecosystem. Again, people understand the future role of ZRX and, however, seek to buy ZRX and add it to their portfolio. Moreover, ZRX is less expensive compared to other decentralized exchanges. However, it is a bit slower than traditional centralized exchange platforms such as Vechain and Ripple.

FAQ

Where to buy ZRX?

There are a variety of ways you can buy ZRX for your investment portfolio. Many people find it easy to purchase it through a trusted exchange such as Binance and Kraken. As a result, these platforms offer lower fees and are rated one of the best crypto exchanges in the world.

How to buy ZRX?

First and foremost, you need to open an account with a trusted global exchange to buy ZRX coins. Make sure you find a cryptocurrency that supports 0x token exchange like Kraken. Also, it would be best if you secured a digital wallet from the cryptocurrency exchange. Consequently, you need to know where to store your 0x after purchase. After that, you can make the purchase.

How to mine ZRX?

It follows that Mining ZRX does not work. The only way to get hold of the ZRX tokens, however, is to through cryptocurrency exchange. Firstly, determine which cryptocurrency is mineable, for example, Ethereum. ZeroEx Inc created ZRX on the Ethereum blockchain. However, the token should be compatible with any wallet that supports Ethereum. Furthermore, always store ZRX in hardware wallets that are secure and accessible whenever you need the crypto asset.

Should I buy ZRX?

Yes, ZRX is a legit digital asset to consider as a good investment. However, it is a “perfect” long-term investment. According to the predictions, ZRX is expected to reach $2.43 by the end of 2021. In five years, however, the ZRX price might get to $4.71. Moreover, the coin has been performing well for the last few years. With this in mind, buy ZRX today for more profits in the future.

What is the future trend of ZRX?

It is time for the ZRX to turn bullish again. However, the 0x platform has adopted advanced technology to ensure that the coin even grows faster. In addition, ZRX will advance further and be better than other decentralized exchanges. Consequently, it is a long growth pattern for ZRX but worth investing in earlier rather than later.

The coin is expected to hit above $2.50 by the end of 2021. If the bullish trend continues, ZRX will reach $4 in 2022. Furthermore, in the first half of 2022, the coin is expected to show rapid growth. However, the rise will slow down for the rest of the year. To conclude, there will be no significant falls expected for ZRX.

Summary

0x (ZRX) is an Ethereum based token that aims to improve the decentralized exchange’s performance. Also, the coin has not been performing well in the past two years. However, in 2021 ZRX has shown the potential of becoming a good investment. It suffices to remark that ZRX is a decentralized exchange for trading ERC-20. Therefore, the investors are connected directly to the platform.

In addition, 0x technology combines two strategies, including the automated markets and the state channels. The state channels, on the contrary, reduce the cost used if the transactions take place in an Ethereum network. The reduced cost is a result of taking the transaction offline. On the other hand, automated markets introduce a third party to facilitate trades when the crypto price reaches a certain amount. Therefore, computerized markets act as counterparty.

The biggest concern about ZRX is that the platform faces competition from other decentralized exchanges. In addition, the platform does not transact fiat currency. Consequently, the trader has to own the Ethereum to transact. Moreover, ZRX faces criticism due to the inconsistency of liquidity and slow transactions compared to centralized exchanges.

ZRX is an excellent cryptocurrency to invest in. However, it has a more significant role in decentralized markets. The desire for Bitcoin, Ethereum, and other cryptocurrencies is growing. However, there will be a need for robust decentralized exchanges. Therefore, the world is to realize the potential of ZRX in the future.