Want to jump straight to the answer? You can buy ZEC on Gemini, Coinbase, eToro, Robinhood and Kraken.
Founded in 2016, Zcash is a privacy-protecting digital currency. It was launched by top cryptographers from MIT, Technion, Johns Hopkins, Tel Aviv University and UC Berkeley. All your Zcash transactions are shielded and completely private. Similar to Bitcoin, Zcash financial data is uploaded to a public blockchain. But unlike Bitcoin, Zcash transaction details and your personal information is kept confidential.
Zcash transactions are verified with “zero-knowledge proofs.” With this process, you can trade Zcash tokens without unveiling the sender, receiver or amount. It also features a selective disclosure option that allows users to share certain transaction details, made easy for compliance purposes and audits.
You can spend Zcash to buy goods and services or exchange them for money. Zcash can be exchanged on trading platforms for U.S. dollars (USDs), Euros or other fiat currencies. Most cryptocurrency trades reveal the transaction history and holdings to the public.
But unlike other cryptocurrencies and traditional money, Zcash transactions are tracked and managed on a decentralized, public blockchain. Zcash lets you truly own your digital assets without leaking any private information.
Core Capabilities of Zcash
Low-fee Transactions: Zcash supports quick transactions with a low fee of 0.0001 Zcash. It is also supported by a wide range of top digital wallets and crypto exchanges.
Address and Transaction Privacy: Zcash offers 2 types of addresses, shielded and transparent. Shielded addresses are not visible. Transactions between shielded addresses do not reveal either address or the transaction amount. Transparent addresses and transactions between them are open to public viewing on the Zcash blockchain.
Encrypted Memos: A memo field is available for shielded transactions. It lets you encrypt and send relevant information along with the Zcash tokens to the receiver.
Viewing Keys: Owners of Zcash have the option to disclose incoming transactions and the memo field for regulatory compliance or auditing. It does not grant access to the sender’s address unless identifying information is included in the memo field.
Transaction Expiration: You can minimize the impact of non-mined transactions by setting an expiry on your Zcash trade.
Multi-Signature Transactions: You can set up Zcash transactions to require multiple signatures to complete the process. In such cases, 2 or more parties may have to comply with the transaction for it to go through. However, multi-signature transactions are transparent and can’t be made private.
How To Buy Zcash
- Open an online account.
You’ll need a cryptocurrency exchange account to invest in Zcash. Luckily, there are more than a dozen online marketplaces that allow you to trade the digital asset. These exchanges are sometimes referred to as crypto brokerages, but they’re essentially the same thing. Crypto exchanges can differ in terms of their fees, security policies and the digital currencies available for trade.
- Buy or Download a Wallet
Digital cryptocurrency wallets can help you store your cryptocurrencies in a secure way. Make sure you protect your passwords and take regular backups to safeguard your digital assets.
You can use several types of digital wallets — web, desktop, mobile, hardware and paper wallets. For the best experience, Benzinga recommends you to pick a wallet with shielded-address support for storing your Zcash. The 2 main types of crypto wallets are software and hardware wallets. While software wallets are computer programs you can use for free, hardware wallets are physical devices that store your crypto offline. If you want to be as secure as possible, use a hardware wallet.
- Make Your Purchase.
When you have a digital wallet set up, you need to sign in to your exchange account to start trading. Browse through the cryptocurrencies and select Zcash to view its price. You can also enter “ZEC” in the search bar to find it faster.
When the price of a Zcash token seems favorable for a trade, you can click on the Buy button to execute the order. Make sure you calculate the exact number of tokens you want to buy before going through with the buy order.
Best Crypto Exchanges for Zcash
Depending on the online broker you choose, you will have the option to either buy Zcash or trade it for other cryptocurrencies. Before you start trading Zcash, you need to sign up for an account on its trading platform.
Take a look at some of the popular exchanges that allow you to trade Zcash.
eToro is a leading cryptocurrency exchange. As 1 of the earliest platforms to allow cryptocurrency trading, eToro is trusted by millions. You can buy and sell more than 91 cryptocurrencies on the platform including Zcash, Dash, Tron and Tezos.
The trading platform provides tight spreads and highly liquid digital markets. You also gain access to institutional-grade algorithmic capabilities, advanced market research and analysis tools.
Coinbase is a trusted cryptocurrency exchange. The trading platform has more than 35 million registered users from over 100 countries. It has a total volume of $320 billion traded on the exchange to date. Zcash, Bitcoin and Ethereum are among the most popular cryptocurrencies supported by Coinbase.
The cryptocurrency exchange lets you buy, sell and store your digital assets. You can also schedule crypto trades on a daily, weekly or monthly basis to automate your trade. Coinbase is also available on iOS and Android for mobile cryptocurrency traders.
Gemini is an easy-to-use cryptocurrency broker. It lets you buy, sell and store cryptocurrencies instantly. Gemini is a licensed New York trust company that undergoes regular audits. It is the world’s 1st cryptocurrency exchange to receive Security Operations Center (SOC) certifications.
Bitcoin, Ether, Zcash, Chainlink and Cosmos are among the cryptocurrencies listed on Gemini. The trading platform also offers insurance for all crypto assets held in your e-wallet and provides best-in-class cold storage facilities. You can also secure your account with a hardware key for added security.
Best Cryptocurrency Wallets
The best crypto wallet fort you depends on your needs as an investor. If you seek to store your cryptocurrency in the safest way possible, you’ll need to purchase a hardware wallet. Since hardware wallets are physical devices that aren’t connected to the internet, it’s impossible for online hackers to steal your funds. Luckily, you can find many greaat hardware wallet options for under $50.
Best for Hardware: Trezor One
Trezor One is an e-wallet designed to store your cryptocurrency offline. It supports more than 1000 cryptocurrencies including Zcash, Dash, Ethereum and Litecoin. Trezor One is among the safest digital wallets on the market to help you manage your digital assets. The hardware wallet is integrated with an easy-to-use back-up and recovery system. Trezor One’s recovery system can be accessed at anytime to restore your digital assets. It comes equipped with a monochrome display and an intuitive interface.
Best for Mobile: Unstoppable Wallet
Unstoppable Wallet is a dedicated wallet for mobile crypto traders. It lets you store your cryptocurrencies anywhere, anytime. Unstoppable Wallet is integrated with interactive charts and analytical tools to enhance your trading experience. You can store and grow your crypto assets privately without fraud risks or regulatory limitations.
It supports more than 60 cryptocurrencies including Bitcoin and Zcash. With exclusive control over your digital assets, you can easily transfer your funds from Unstoppable Wallet to other e-wallets.
Trade or Sell Your Cryptocurrency
Trading cryptocurrency involves uploading transactional information such as the sender, receiver and the amount transferred to a public blockchain. Zcash is among the fastest blockchain systems and generally takes about 2.5 minutes to confirm a new block. Its competitor, Bitcoin, usually takes about 10 minutes to confirm a new block or transaction.
The value of Zcash has been steadily gaining momentum since its launch in 2016. Zcash reached a record high the following year in 2017 with a market cap of $2 billion. Zcash mining hardware is also less expensive than Bitcoin, making it a more affordable trading cryptocurrency.
In recent news, Zcash underwent its 1st halving and released a major update. Halving reduces the reward for mining Zcash. Due to its popularity in the crypto markets, Zcash passed the height of 1,046,400 blocks to trigger the event. Following its halving, Zcash miner’s rewards have been lowered from 6.25 ZEC to 3.125 ZEC per block.
Current Crypto Prices
Zcash has a maximum supply of 21 million ZEC and has 10.6 million ZEC in circulation. It has a market cap of over $757 million and trades more than $331 million per day. Zcash is currently trading at $71.04 per ZEC. It has a 52-week low of $18.94 and a 52-week high of $102.18.
Historical performance of ZEC in the last year
Zcash is a High-Volume Cryptocurrency
Zcash is among the largest and most widely traded cryptocurrencies on the market. Its high trade volume is a clear indication of its value. Zcash is supported by plenty of digital wallets and exchanges. Consider trading ZEC to grow your digital portfolio and earn solid returns in the future.
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.
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