Zcash (ZEC) is a popular cryptocurrency and decentralized blockchain. The network is known for its interest in 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 stay useful, including capped provisioning, privacy options, and fungibility. To learn more, visit our Investing in Zcash guide.
We list the top 3 brokers that offer the option to buy Zcash (ZEC) with a credit or debit card.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The advantages of buying ZEC here are that you benefit from lower exchange fees than competing exchanges, and the increased liquidity allows you to buy and sell quickly to take advantage of market news.
This exchange is best for Australia, Canada, Singapore, UK, and international users. They do not sell Zcash (ZEC) to residents of the United States.
Read our Binance review or visit Binance.
Use the discount code: EE59L0QP for 10% cash back on all trading fees.
Kraken is one of the long-standing names of cryptocurrency exchanges operating in the industry.
From humble beginnings, they have now grown into one of the most recognizable names in the space, offering a huge selection of assets to trade including ZEC.
Trading costs are competitive with other exchanges and they have continued to evolve now, offering both futures and margin trading.
It’s our most recommended exchange for residents of the United States.
Read our Kraken review or visit Kraken.
Huobi Global was established in 2013, they have since grown into one of the world’s largest digital asset exchanges with a cumulative trading volume of US $ 1 trillion. Having already accounted for half of the world’s digital asset transactions, Huobi now serves more than 5 million users in more than 130 countries around the world. It should be noted that they do not accept residents of the United States.
It is one of the major exchanges currently offering Zcash (ZEC) trading opportunities.
Read our Huobi Global Review or visit Huobi Global.
What is Zcash (ZEC)?
Zcash is a decentralized cryptocurrency that was created in October 2016 in response to user requests for 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 allows users to transfer value efficiently while maintaining privacy and security. Its primary use case is to provide anonymity to its users and their transactions. This is done by using zero-knowledge evidence (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 particular emphasis on anonymity and uses zk-SNARKs to authenticate transactions.
The acronym zk-SNARK stands for “Zero-knowledge, non-interactive, succinct knowledge argument” and refers to a proof construction where one can prove possession of certain information, for example a secret key, without revealing that information, and without any interaction between the prover and the verifier.
Acceptance and controversies?
Due to the nature of Zcash, various government entities attempt to reverse engineer privacy features. It can also lead to the cryptocurrency being delisted from certain exchanges due to the potential risk of losing its money issuer or digital asset license, or a possible pushback from the SEC.
Trading Zcash can be considered risky due to the risk of the cryptocurrency being delisted.
While the majority of countries have remained silent on their views on Zcash, there are a few that have spoken out against its use. The most striking example of this is in Japan; As a result, various exchanges seeking to maintain licensure in the country have written off Zcash and similar coins.