Buy Zilliqa in India — Step by Step Guide for Beginners
By: Rinkesh Jha
Tags: India, Buy Zilliqa, Investment, Beginners Guide, How To

The complete guide for beginners — How to buy Zilliqa (ZIL) in India?

What is Zilliqa?

Zilliqa is a “next-generation high throughput blockchain platform. Zilliqa is a faster, more advanced blockchain. Bitcoin was the first generation of cryptocurrency, platforms like Ethereum were the second, and newer platforms like IOTA and Zilliqa, which are the third.

Third-generation platforms are trying to solve some of the problems that have affected older cryptocurrencies. The main problem Zilliqa is trying to solve is scalability. Zilliqa hopes to solve the problem of scalability with a system called sharding which I will discuss in the next section. Zilliqa is the first platform to use sharding which caused a lot of excitement in the crypto community. The excitement leads to an unplanned Zilliqa ICO in 2017.

Key elements of Zilliqa include:

1. Scilla

Zilliqa is powered by the first peer-reviewed and safe-by-design smart contract language called Scilla.

2. Verification

Using functional programming design principles (as in OCaml) allows it to be more friendly towards static checks and formal verification.

3. Hybrid consensus mechanism (HCM)

The first layer of Zilliqa’s HCM verifies the identity of nodes. This stops Sybil attacks from happening.

How to Buy Zilliqa (ZIL) in India?

Depending on your location, sign up with BuyUcoin.com to set up a custom buy, and benefit from your holdings. Purchase ZIL using INR and join the Widget Program now! ZIL is Now Available on the BuyUcoin Widget! Buying ZIL on BuyUcoin is now an even more user-friendly and seamless experience!

Step by Step Guide For Beginners, How to Buy Zilliqa in India?

BuyUcoin is an exchange that provides buying and to sell Zilliqa in India as well as other cryptocurrencies. Below is a step by step guide to buy Zilliqa via BuyUcoin:

Step 1- Open a Digital Wallet

A digital wallet is where you hold your cryptocurrencies and interacts with others via blockchain technology. There are many providers of digital wallets, however, it is important to make a deep research before you decide which one is the best for you. Currently, the most popular digital wallets provider is BuyUcoin.

Step 2- Register & Open an Account

Once you enter buyucoin/signup, register and open an account that can provide you with their service. Select the type of your account either individual or corporate. Select your country and agree on the terms and conditions register your account for crypto trading.

Registered account on buyucoin for buy Zilliqa in India.

Step 3- KYC

KYC and AML are mandatory for Indian jurisdiction. Your data is saved and encrypted and is stored in Indian data centers only. You will be redirected to a different URL to complete your KYC. Please be ready with your recent selfie. You will need the images of your pan card. You will need the mobile number with you which is linked with your Aadhar.

Step 4- Google 2 Step Verification

To use 2FA you will have to install an Authenticator app on your smartphone or tablet. Once enabled you will be asked to provide an additional six-digit one-time password along with your email and password every time you login to your BF account. This works only when signing in with email and password. When using Facebook or LinkedIn you can enable 2FA with your social media provider settings.

Enable google 2 Step Verification to secure your account.

Step 5-Add Bank details

Add the credentials of your bank name, holder account name followed by account number, and IFSC code details.

Connect your Bank Account to BuyUcoin Wallet.

Trade Zilliqa

During the Zilliqa ICO, the price of each token was0.0038 USD. Today, the price of each Zilliqa is about 0.085 USD. This means that the Zilliqa price is more than twenty times higher than it was at the time of the Zilliqa ICO, six months ago. The total supply of Zilliqa is capped at 12.6 billion.

More than7.35 billion tokens are in circulation already. It’s possible that the price of Zilliqa could go up even higher when its total supply is in circulation and after its main net has gone live. Zilliqa is the 27th biggest cryptocurrency on the market so it will be very interesting to see where the platform is ranked after its launch.

Zilliqa is a digital asset, which has many eyes on it, as most of the market experts are eyeing on investing in it. Trading Beasts predicted the price of Zilliqa for 5 years time frame. They have mentioned that by 2020, they might reach $1.15 and by 2022, it might even touch the 5 USD mark.

Can I Use Regular Money to Buy Zilliqa?

Yes, you can buy Zilliqa using INR through the BuyUcoin cryptocurrency. Create a free account with which you can buy, sell, send, receive, and store Zilliqa. Transfer INR to your BuyUcoin wallet using one of the 8 supported payment methods, including Credit Card and much more. Buy or sell over 50 digital assets and pay a maximum trading fee of 0.25%.

Getting a Zilliqa Wallet

A crypto wallet is essentially software that stores public or private keys and engages with a particular blockchain platform to enable users to send, receive, and trade. Download any trusted wallet with Zilliqa (ZIL) supports bitcoin and other crypto tokens & blockchain wallets Only you have control over your funds. Receive, Send, Store, and exchange your cryptocurrency right in the mobile interface.

Zilliqa Exchanges

$ZIL is the token that powers the Zilliqa blockchain. The tokens can be used for smart contract execution, to reward miners, to cover transaction fees, and more. Zilliqa (ZIL) to Bitcoin (BTC) Exchange / HitBTC.

Zilliqa might grow exponentially in terms of its partnership projects. It might increase in partnerships with more events, where it would also gain its exposure socially across the world. Zilliqa might work towards increasing more transactions per second and might even give competition to the major cryptocurrencies.

Zilliqa might even work towards migrating from Ethereum based blockchain to its own blockchain. It is might cover up getting enlisted in the major exchanges in the world by 2020. By the end of 2020, ZIL might reach $0.361, which will be a major step for ZIL, in stepping up.

Zilliqa Mining

You can mine for short periods of time to cut massive energy costs while paving the way for a green and sustainable future. You can switch from other coins to mine which $ZIL automatically for just 1 minute out of every 1–2 hours while having constant mining costs and receiving high aggregated fees.

You receive rewards based on the contributions of valid signatures, allowing for a much more equal distribution of tokens. Patty’s request is encrypted and mixed with transaction information from other users by special nodes called miners. The information is grouped into a block.

Miners now race each other to guess the code number which is given to the completed block by the Bitcoin protocol. Zilliqa’s test net already match’s Visa’s transaction speeds, beating legacy blockchains like Bitcoin and Ethereum. Its sharding solution uses a hybrid PoW consensus model for more efficient mining.

Thanks to Zilliqa’s consensus mechanism, the ecological footprint of mining has considerably been reduced. Only 1 minute out of every 2–3 hours is needed to mine ZIL, allowing one to dual-mine other chains at the same time.

Conclusion

In conclusion, I think that Zilliqa is a good investment. They have solved the problem of scaling with sharding and they have no competitors at the moment. The team behind Zilliqa are all computer scientists PhDs and they understand the technology of blockchain very deeply.