Zcash (ZEC) is a popular cryptocurrency and decentralized blockchain. The network is known for its focus on privacy. Zcash was the first coin to provide true anonymity on a public blockchain. This peer-to-peer network incorporates a combination of strategies to remain valuable including a capped supply, privacy options, and fungibility. To learn more visit our Investing in Zcash guide.
We list the top 3 brokers that offer the ability to buy Zcash (ZEC) with a credit card or debit card.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing ZEC here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.
Read our Binance Review or visit Binance.
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Kraken is one of the longstanding names when it comes to cryptocurrency exchanges operating in the industry.
From humble beginnings, they have now gone on to become one of the most recognizable names in the space offering an extensive selection of assets to trade including ZEC.
The trading costs are competitive with other exchanges and they have continued to evolve now offering both futures and margin trading.
Read our Kraken Review or visit Kraken.
Poloniex was founded in the US in 2014 and has quickly risen to become a very popular exchange of choice for many crypto traders looking to combine a strong range of assets, with great value. They are continuing to expand their asset range all the time, with more than 100 different pairs choices including Zcash now available to trade. With a recently revamped look, the exchange is also looking more professional than ever with trading in futures and on leverage of up to 100:1 also now available to access.
Read our Poloniex Review or visit Poloniex.
What is Zcash (ZEC)?
Zcash is a decentralized cryptocurrency which was established in October 2016 in response to demands from users to have tokens with additional privacy features. This is why this digital currency is widely recognized as one of the most popular privacy coins.
What does it do?
Zcash is a cryptocurrency used for payments, it enables users to efficiently transfer value while maintaining privacy and security. It’s main use case is to provide anonymity for its users and their transactions. This is done by by using a zero-knowledge proofs (zk-SNARKs) to validate and authenticate transactions.
This is commonly used as an alternative to Monero another popular privacy based cryptocurrency.
How does Zcash work?
Much like many other popular cryptocurrencies, Zcash is a payment cryptocurrency but with a special emphasis on anonymity and uses zk-SNARKs to authenticate transactions.
The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier.
Acceptance and Controversies?
Due to the nature of Zcash, there are various government entities that are attempting to reverse engineer the privacy features. This may also cause the cryptocurrency to be delisted from certain exchanges due to the potential risk of losing their money transmitter or digital assets license, or potential pushback from the SEC.
Trading in Zcash may be considered risky due to the potential for the cryptocurrency to be delisted.
Regulation?
While the majority of countries have stayed silent on their view of Zcash, there are a select few which have spoken against its use. The most prominent example of this is in Japan; As a result, various exchanges looking to maintain licensure in the nation have delisted Zcash and similar coins.