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ZARX on eToroX
ZARX is the tokenized stablecoin of its traditional counterpart, the South African Rand (ZAR) and is now available for trading on eToroX Exchange. It is one of 17 stablecoins which can be traded on the exchange, including eToroX’s US Dollar (USD), the Euro (EURX) and the Pound Sterling (GBPX).
The price of the ZARX is pegged to the value of the South African Rand on a 1:1 basis; if you trade ZARX on eToroX, it will be the same as exchanging or trading fiat South African Rand.
ZARX Trading on eToroX Exchange
ZARX was created in 2019 and represents a blending of the traditional world of finance with the innovative world of cryptocurrencies, and is one of several eToroX stablecoins. Stablecoins were introduced into the volatile world of cryptocurrencies to counteract the inherent lack of stability.
You can also download and use the eToro Wallet, with which you can fund your account with Bitcoin, Ethereum, or any of the other supported cryptoassets, and then buy ZARX. Subsequently, you can sell, or exchange ZARX on eToroX Exchange against various stablecoins and cryptoassets.
ZARX Exchange Pairs
What Affects the South African Rand/ZARX
The Rand (and the ZARX) are influenced by external drivers including:
- US-China trade developments (including US tariffs on Chinese goods)
- Federal Reserve policy meeting
- The value of the US dollar
While the ZARX is paired with both USD and JPYX (see above), it is most commonly traded against the tokenized Dollar.
Why Trade ZARX with eToroX
In the volatile world of cryptocurrencies, a reliable exchange platform such as eToroX offers you the safety to trade cryptoassets securely. eToroX is the crypto and blockchain arm of the social trading platform eToro, and is regulated by the Gibraltar Financial Services Commission (GFSC). This enables exchange and trading of ZARX and other cryptoassets under transparent conditions, meaning that you can trade ZARX and other pairs securely and sleep soundly at night.
You can also exchange ZARX on eToroX with other crypto assets, such as Bitcoin, Litecoin, Stellar, EURX, GoldX and SilverX.
How to get started with ZARX
To buy or sell ZARX or just exchange ZARX for another stablecoin or crypto, you need to first open and verify your trading account, fund it and connect to the trading exchange. This procedure is simple and can be done using the online form. Alternatively, use your Gmail or Facebook account, or even your existing eToro account to create a profile.
Next, you can download the eToro Wallet on either Android Play Store or iOS/App Store. This gives you a cold storage wallet with which to store your funding cryptoassets. Once you have your funding cryptos, send them to the exchange and buy ZARX with them.
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.