What Is The Zilliqa (ZIL) Coin And How To Use It
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Zilliqa is a cryptocurrency that’s been getting a lot of attention lately, with investors hoping that it might be able to challenge Ethereum – one of the most popular cryptocurrencies – in terms of market share.
What is ZIL?
Zilliqa is a new blockchain platform that is designed to scale in an efficient manner. The platform uses sharding technology in order to achieve high throughput rates. The native token of the Zilliqa platform is called ZIL.
What are the benefits of using ZIL?
Some of the benefits of using ZIL include:
-The ability to handle large numbers of transactions per second
-Low transaction fees
-A more secure platform compared to other blockchain platforms
How can I use ZIL?
ZIL can be used in a number of ways, including:
-As a means of payment for goods and services
-To participate in ICOs that are hosted on the Zilliqa platform
-To trade on cryptocurrency exchanges
How you can use it
Zilliqa is a new cryptocurrency that is designed to be more scalable than existing cryptocurrencies such as Bitcoin and Ethereum. One of the key features of Zilliqa is its use of sharding, which allows it to process transactions much more quickly than other cryptocurrencies.
If you’re interested in trying out Zilliqa, here are a few ways you can use it:
1. Use it to buy and sell goods and services. There are already a number of businesses that accept Zilliqa as payment, and this number is likely to grow in the future.
2. Use it to send and receive payments. You can use Zilliqa to send and receive payments with anyone else who uses the currency.
3. Use it to speculate on the price. Like any other cryptocurrency, the price of Zilliqa can fluctuate wildly. If you think the price is going to go up, you can buy some ZIL and sell it later for a profit. Conversely, if you think the price is going to drop, you can short sell ZIL and buy it back at a lower price.
How to set up an account
Assuming you already have a Zilliqa account, if not, sign up here. Then head over to the deposit page and select ZIL from the list of currencies. You will then be asked to input your Zilliqa address. This is the long string of numbers and letters that starts with 0x… (copy and paste from your wallet).
Once you’ve inputted your Zilliqa address, select the amount of ZIL you’d like to deposit and confirm the transaction. It may take a few minutes for the deposit to be processed.
Now that you have some ZIL in your account, you can use it to trade other cryptocurrencies or hold it as an investment. To trade ZIL, go to the markets page and search for the currency pair you want to trade (ZIL/BTC, ZIL/ETH etc.). Then click on the buy or sell button and input the amount of ZIL you want to trade.
If you’re holding ZIL as an investment, you can track the price by clicking on the “portfolio” tab at the top of the screen. Here you will see all the cryptocurrencies in your portfolio and their current prices.
Store ZIL in your wallet
Assuming you already have a ZIL wallet set up, here are some tips on how to store your ZIL coins:
– Keep your ZIL in a personal wallet for security. While exchanges are a convenient way to buy and sell ZIL, they are not the safest place to store your coins. If you must use an exchange, only keep the coins there that you plan to trade.
– Make sure your wallet is backed up. This is important for any cryptocurrency but especially for one as new as ZIL. Store your backup in a safe, secure location.
– Don’t forget about security. Just like with any other asset, you need to take steps to protect your ZIL from theft or loss. Use strong passwords and two-factor authentication whenever possible.
Transferring ZIL from one address to another
When you want to transfer ZIL from one address to another, you need to use a Zilliqa-compatible wallet. Some of the most popular Zilliqa wallets include ZilPay, Atomic Wallet, and Trust Wallet.
Once you have a Zilliqa wallet set up, you can send ZIL to any other Zilliqa address. To do this, you will need to know the recipient’s address and have enough ZIL in your own wallet to cover the amount you want to send plus any transaction fees.
When sending ZIL, you can choose whether to send it immediately or specify a later date. If you choose to send ZIL later, the transaction will not be processed until the specified date. This can be useful if you want to make sure the recipient will have enough time to receive the funds.
Once you have entered all the necessary information, simply confirm the transaction and wait for it to be processed on the blockchain. Depending on network conditions, it may take a few minutes for the transaction to be confirmed and completed.
Conclusion
The Zilliqa (ZIL) coin is a new cryptocurrency that has recently gained popularity due to its unique features. While it is still early days for Zilliqa, the potential uses for the coin are many and varied. Whether you are looking to invest in a new cryptocurrency or simply want to learn more about how this coin works, we hope this article has been of use to you. Thanks for reading!
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