Quick summary: Our recommendation is to use eToro to short 0x. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.

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0x

While there are a lot of options out there for buying ZRX, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.

One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!

How to Short 0x in Australia

A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.

Shorting 0x can be done in 4 easy steps:

  1. Choose a crypto broker or exchange
  2. Create an account
  3. Fund your account
  4. Short 0x

1. Choose a crypto exchange

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto broker to follow along, they all work very similarly.

2. Create an account on the crypto exchange

Let’s start with just signing up with eToro.

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The sign-up process is very quick and easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your eToro account

Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short 0x

Now for the actual shorting:

  • Starting off at the search bar at the top, find 0x by entering the name or symbol.
  • Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  • At the top of the trading interface: Click on sell to short sell the stock.
  • Enter the amount for which you want to sell 0x and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of 0x has dropped, go to your Portfolio, find the 0x trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short 0x!

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Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

Where to Short 0x (ZRX)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.

Frequently Asked Questions

Can I short 0x on Binance?

Yes, you can short 0x on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.

About 0x

The protocol 0x aims to facilitate frictionless peer-to–peer trading of Ethereum-based assets. 0x can be considered a non-custodial solution as funds are not withdrawn from the user’s wallet but are deposited. It aggregates liquidity pools that have been built on top of 0.x for smoother peer to-peer transactions.

It also acts as a foundation for developers looking for exchange functionality. Developers can easily integrate 0x through its relayers that add exchange functionality to an existing product. 0x is a non-custodial wallet that allows for the trading of ERC-20 tokens from any Ethereum-based platforms.

The 0x network is centered around the maker/taker. Maker is the party that places a buy-sell order. Taker is the party that fills that order. Currently, 0x allows trading of ERC-20 fungible tokens.

To allow a trade to take place, someone must be on the opposite side. If the maker already knows a counter-party they wish to trade with, they can directly send the 0x orders to them. The order will be sent to the relayer to try and find a counter-party.

A relayer can be any entity that assists in creating, finding, and filling 0x orders. Anyone can make a 0x re relayer and start earning fees every trade it facilitates

Once someone has filled out the 0x order form, the settlement logic for the 0x protocol verifies the maker's digital signature. It also ensures that the trade conditions are fully met. If all is in order, tokens are automatically swapped between taker and maker. The request will be denied if it is not in order.

ERC-721 non-fungible tokens (NFT), which 0x also supports, could be used in gaming and digital art scenarios. Gamers can use 0x to tokenize their ingame assets and then trade them among themselves. Artists have the option to digitize their artwork in a NFT and transform it into a trading product.

0x, unlike other decentralized platforms, does not store orders on the Blockchain. Orders are instead stored off-chain. Trade settlements only take place on-chain. Transactions being taken off-chain will reduce congestion in the network, and the network would require less gas to operate within the 0x ecosystem.

The actual value transfer is the only transaction that occurs on-chain.

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