How to trade Zcash?

Zcash is a well-known anonymous cryptocurrency that has long been included in the TOP100 by market capitalization. In today’s review, we will briefly consider the main characteristics of the project, the reasons for buying ZEC, the best platforms for operations with coin, and much more.

What is Zcash (ZEC)? 

Zcash (ZEC) – is a digital currency built on the basis of the original Bitcoin code. However, the protocol includes many improvements, primarily concerning the confidentiality and anonymity of transactions. Network users choose the type of transaction depending on their requirements: transparent or shielded.

Zcash was the first coin based on the zero-knowledge protocol zk-SNARKs. Its peculiarity is that it allows you to create completely anonymous transactions, while ensuring their authenticity and security. The fact of the transfer of coins is recorded in the Zcash network, but information about the sender, recipient and the transaction amount is hidden. Public transactions can also be performed in the Zcash blockchain. In this case, they will look similar to transactions in the Bitcoin blockchain. Due to the fact that the Zcash blockchain does not store information about users’ keys, the network and users’ wallets are more secure. 

What is Zcash

Why should I trade Zcash? 

The main reasons in favor of trading ZEC are: 

  • ZEC is widely used to pay for goods and services, providing the user with optional anonymity. In addition, the development team consists of people with huge experience in cryptography, which causes confidence in the project.
  • A large-scale update of the Zcash network is planned for autumn 2021, which is likely to have a positive impact on the interest in the project. In addition, do not forget that the issue of Zcash is limited, which also leads to an increase in the price.

On August 30, 2021, the price of ZEC is approximately $149.59, the market capitalization reaches $1,875,232,041. The minimum price on March 13, 2020 was $18.94. The maximum price was set on October 29, 2016 and was $5,941. 80.

Where to trade Zcash? 

Choosing the best place to trade cryptocurrency can be difficult, especially for novice traders. The list of reliable trading platforms includes:

  • Binance – an exchange with low fees, its own token, as well as a large selection of professional tools for trading and analytics.

Trading pairs: +2000. 

  • OKEx – an exchange provides a full set of classic trading options: spot trading, margin trading in USDT, futures, etc.

Trading pairs: +700. 

  • 7b – a crypto broker application for your smartphone, provides all the crypto assets available on Binance for trading in a safe and convenient manner.

Trading pairs: +2000. 

Where to trade cryptocurrency

How to trade Zcash using the 7b crypto broker app? 

Trading on a 7b crypto broker is as simple as 1-2-3. You can track the price chart of any of the more than 350 cryptocurrencies directly in the app. 7b allows you to trade safely and effortlessly. Just download the 7b app and follow the instructions:

  1. Create an account.
  2. Check your balance.
  3. Enter “ZEC” in the search bar.
  4. Specify the desired transaction amount.
  5. Place a market order. 

Zcash Exchange 

Where to exchange ZEC? 

For a trader who wants to exchange Zcash easily and conveniently, such services as brokers and instant exchangers are available. Find out about the advantages and disadvantages of both options below:

Broker:

Pros Cons
SafetyThe need to withdraw coins from the account to the wallet
Limitless
A wide selection of cryptocurrencies and exchange pairs

Instant exchanger:

Pros Cons
AnonymityLimited choice of coins and exchange pairs
Fixed or floating rates
Transfer directly to your wallet

A list of reliable swap platforms includes: 

  • FixedFloat – a reliable service for automated cryptocurrency exchange. About 30 coins to choose from.

Service fee: 0.5% (floating rate), 1% (fixed rate).

  • Changelly – a secure service with support for more than 170 cryptocurrencies and high limits.

Service fee: 0.25%.

  • StealthEX – an anonymous service with support for more than 350 cryptocurrencies, without limits.

Service fee: included in the exchange rate.

What to know before exchanging Zcash? 

There are three main recommendations for exchanging cryptocurrency:

  1. Give preference to platforms that have been operating for at least a year, are registered on the main aggregators, and have a positive reputation on the forums.
  2. Do not flatter yourself with unprecedented low fees and exchange rates. This may be a fraud signal.
  3. Enter the recipient’s wallet address carefully and double-check it.

How to buy Zcash for fiat? 

Zcash can be purchased effortlessly for fiat funds. Which is another proof of the popularity of this coin. So the easiest way to buy ZEC for fiat is to use platforms with support for a fiat gateway. You can choose one according to the following criteria: reviews on third-party sources, a list of supported currencies, the exchange rate, as well as ease of use. ChangeNOW is one of those services that has proven itself well. The purchase of ZEC on ChangeNOW can be made through the Simplex or Guardarian fiat providers. Just a few steps and ZEC will be credited to your wallet:

  1. Pick the fiat currency to buy ZEC with.
  2. Indicate the purchase amount.
  3. Choose a fiat provider.
  4. Enter the wallet address.
  5. Confirm the transaction.

Zcash use cases 

Zcash use cases

ZEC is the internal currency of the Zcash network and is used in the following areas:

  1. Payment of reward to miners. 
  2. Making cheap and anonymous payments. Due to its features, ZEC is widely used for paying for goods and services in real life.

FAQ 

Is Zcash a good investment? 

Yes, Zcash is one of the most popular anonymous cryptocurrencies that is used for everyday payments. Behind its development are experts with many years of experience in cryptography, who provide a high level of security and anonymity of this project. The forecasts of many experts are optimistic.

How do I invest in Zcash? 

Learn how to properly diversify your investment portfolio. If the cryptocurrency is selected correctly, then the chance of incurring losses is reduced. Buy ZEC for fiat or cryptocurrency. 7b is a secure service for crypto-to-crypto purchases. Create an account, transfer funds for the purchase, select a cryptocurrency for the purchase, indicate the purchase amount, and click “Buy”.

How to trade ZEC for beginners? 

For a novice trader, it is very useful to have a demo account to try your hand, and various strategies without fear of losing funds. 7b is the best place for beginners: log in to your account, check the balance, select a trading pair, set the amount, and place a market order.

What is Zcash Blockchain?

Zcash is a decentralized cryptocurrency that was built on the basis of the original Bitcoin code. This is one of the first anonymous cryptocurrencies. The anonymity of ZEC is due to the use of the zk-SNARK protocol, which implements the principle of zero-knowledge proof.

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