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ZIL coin price predictions for 2019

What is ZIL coin?

Zilliqa is a blockchain project that has surpassed other leading blockchain platforms in terms of scaling and handling a higher number of transactions per second. The platform’s native coin, ZIL coin, has seen some major price fluctuations in 2018. Here we shall look at how the ZIL coin price is prepared to walk through 2019.

Before diving into the predictions of the price of Zil coin, let’s briefly discuss the uniqueness of Zilliqa as a platform.

What sets Zilliqa apart from other blockchain projects?

ZIL coin price

Comparing Zilliqa with Ethereum and Bitcoin on a scalability level, Zilliqa will surely lead the way. Reason? At the moment, both networks can’t process all demands as the more nodes they experience, the slower they become.

Bitcoin, for example, has seen its transaction fees rise and the network slow down. Ethereum is also witnessing limited throughput problems as the rise in Crypto Kitties slowed down the Network.

However, while Bitcoin and Ethereum can handle 3-15 transactions a second, Zilliqa can handle over 2,400 transactions per second. Also, when the nodes increase, Zilliqa has the ability to scale accordingly.

Therefore, there is no limit to the number of transactions it can process per second and it is said to have the ability of processing thousands of transactions per second.

Ethereum is currently looking to implement the sharding idea so that it can also boost the number of transactions the platform can handle per second.

For Zilliqa, this has already been implemented and acts as proof that blockchains do not need to be overly slow when handling a huge number of transactions.

Sharding works by distributing the workload among nodes and requires that the group of nodes handling a specific task report back to the other nodes in other groups.

Sharding also helps in reducing the amount of bandwidth consumed by the nodes since the tasks handled are not the same.

Also, Zilliqa is 100x cheaper than Ethereum. While Ethereum charges $0.10 for transaction cost, Zilliqa charges $0.001

Review of the current and past price of ZIL coin

ZIL coin price

As of the time of writing, the ZIL coin price stands at $0.0180 with a current circulating supply of 8.3 billion. According to Coinmarketcap, it is the 37th coin in terms of market capitalization.

However, just like every other cryptocurrency, ZIL coin price has seen both better and worse days since its launch.

ZIL coin

For example, on March 9, 2018, the price of ZIL coin closed the day at $0.0407, a position it maintained until April 15, 2018 when it closed the day at $0.0639. From then on, the price started appreciating and closed the month at $0.1009.

The coin kept the momentum all through the month of May 2018 where it touched $0.2003 on May 9. Halfway into June, ZIL coin price dropped to $0.0996. The downward trajectory plagued ZIlliqa price until the end of 2018 where it closed the year at $0.0195.

ZIlliqa

In the first month of this year, ZIL coin price hovered around $0.0200.  In Feb 2019 ZIL coin was exchanging hands at around $0.0170 a price it has maintained till the early days of March 2019.

ZIL coin price outlook for the next 8 months

From the past trend, ZIL coin price may not gain much on its own but as the price of other altcoins roughly appreciates or depreciate in regards to Bitcoin’s, ZIL coin price will more likely to follow the same movement.

Nevertheless, given the fact that cryptocurrencies are highly unpredictable, ZIL coin may take different approaches.

One of the approaches is that the price of ZIL coin will appreciate along as the price of Bitcoin appreciates. Secondly, as the price of Bitcoin falls, it will go down with it. The third approach, although possible, it is very unlikely that as the price of Bitcoin falls, the ZIL coin price will defy the fall and appreciate.

Therefore, if Bitcoin moves sideways, the price of ZIL coin is also likely to follow suit.

ZIlliqa

Some platforms specialized in the prediction of cryptocurrency prices have also made several predictions on the price of Zilliqa. Trading Beasts for exampleanticipates that the price of ZIL coin might close the year at 0.08 U.S dollars. Global Coin Report, another platform forecasting the prices of cryptocurrencies, has captured the price of ZIlliqa coin at $1 by year-end.

Another platform, Bein In Crypto, is not very bullish on the future of ZIL coin price. It estimates that ZIL coin can only go as far as 0.09 U.S dollars if it really keeps up dilivering all that is promises.

If ZIL coin loses the momentum somewhere between now and the end of the year, it is capable of closing 2019 at 0.02 U.S dollars.

How to Buy ZIL coin

There are several ways through which Zilliqa can be bought. If you are interested in the coin, here are a few ways you can buy ZIL

Buying Zil coin with other cryptocurrencies.

Some cryptocurrency exchanges do not support fiat purchases but rather, you will need to have some other cryptocurrencies which can be exchanged for Zil coins.

Some exchanges where you can buy Zil coins with the use of other cryptocurrencies include;

  • Binance: Binance is one of the largest cryptocurrency exchanges and investors can buy Zil coins via the exchange. Some supported pairs are ZIL/BTC, ZIL/ETH, ZIL/BNB
  • Huobi: This is also another well known cryptocurrency exchange where Zilliqa can be bought. Some of the supported pairs are ZIL/BTC, ZIL/ETH, ZIL/USDT
  • Gate.io: Alternatively, investors can also buy Zil coins via Gate.io. Supported pairs are ZIL/ETH, ZIL/USDT

Buying Zil coin via wire transfer

Some other exchanges provide the possibility for their fiat purchases. With such exchanges, Zil investors can buy Zil coins directly with fiat currencies.

Example of exchanges offering such a possibility include;

  • Bithumb: This exchange makes it possible to buy Zil coins with fiat currencies like the Korean Won
  • Bitbns: This is also another cryptocurrency exchange where Zilliqa can be bought with fiat.

Conclusion

The cryptocurrency market as with other markets is run by the energy around a certain crypto asset. It has been believed that if you are keen on making profits in the crypto market, you have to buy a coin when the rumors are still doing the rounds. Then when the actual news is out, you sell.

This is pegged on the fact that the price of a coin will appreciate when major news hit the market. This can include a major partnership, etc.

ZIL coin price has not been an exception. However, for ZIL coin to be a meaningful addition to your portfolio, for now, you have to be interested in the long term benefits rather than instant profits.

Nevertheless, you have to do your due diligence before investing in any cryptocurrency.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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