Zcash Explained

With creation of Bitcoin, speculations were made that it would disrupt the traditional trading system and that banks will cease to exist. Ten years down the line, we still depend heavily upon banks, and government issued money for our everyday needs. Where is it that Bitcoin lacked? Was it security? Or was it speed? Well, there are more than one issues with Bitcoin and all the loopholes of Bitcoin lead to the creation of more than one alternative-cryptocurrencies (alt-coins), that boast about being better than the leader himself. If you are looking to buy Z Cash now, it’s worth reading our buy guide, it’ll give you a good insight into where’s best to buy.

One such cryptocurrency is ZCash (ZEC). They flaunt the ZCash Cryptocurrency by saying that – If Bitcoin is the ‘http’, ZCash is the ‘https’. It comes with an added layer of security.

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Recommended places to trade Zcash

eToro
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Min Deposit
$50
United States
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
  • Stellar
  • Ripple
  • Litecoin
  • EOS
  • Bitcoin Cash
Payment Methods
Wire Transfer, Bank Transfer
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
CEX
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Min Deposit
$200
United States
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Top Coins
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies
Cex.io offers exchange of fiat currency for Bitcoin and Ethereum, as well as Bitcoin/Ethereum trading against the USD.
Crypto Rocket
Key Features
Crypto and Forex Trading
Same Day Withdrawals
24/7 Professional Support Team
Min Deposit
$10
United States
Key Features
Crypto and Forex Trading
Same Day Withdrawals
24/7 Professional Support Team
Top Coins
  • Ethereum
  • Ripple
  • Litecoin
  • Bitcoin
  • Dash
Payment Methods
Credit Card, Debit Card, Bitcoin
Trade with a trusted market leader with an established track record of economic strength and stability. CryptoRocket is a proven online trading provider, offering trading with a wide variety of cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and more.

About ZCash (ZEC) and its Features

Mining ZCash (ZEC) and its uniqueness

Mining ZCash is similar like other cryptocurrencies, by using the computer’s processing power, but ZCash mining is different from other coins in a way that the founders keep a share of the coins. With every single unit of ZCash cryptocurrency that a miner mines, out of the first 4% the company gets to keep the 20%, which amounts to 10% of the total supply. This is done so that ZCash coin company can fund itself for future research and development, and does not crash if public demand and supply is skewed.

ZCash uses Equihash as the hashing algorithm, unlike Bitcoin that uses SHA-256. Both these use PoW (Proof of Work) algorithm, but Equihash is better than SHA-256 in many ways. The time required to approve one Bitcoin transaction is much more than what it takes in ZCash. Mining ZCash is not as extensive, expensive or time consuming as mining Bitcoin. That is the reason small scale and independent miners are moving to mining other coins like ZCash instead of Bitcoin.

ZCash employs bleeding edge cryptography to secure vital information from the public. Only the information that a ‘transaction happened’, is available, the sender, receiver and the amount are hid from the public.

Functioning of Mining ZCash (ZEC)

Just like Bitcoin, the total number of ZCash Coins are constant, that is a static 21 million in number. However, 20% of the initial funds will go to the founders and  80% to the miners. This is known as ‘Founders Reward’, and the miners will not be able to keep the full amount. Every four years or so, the reward will reduce to 50%, and after first four years, the coins will completely go to the miners instead of founders. This is how they plan to sustain themselves as an organization.

In Bitcoin, the problem is that big mining farms control the coin, and this has made it centralized in a way. But with ZCash it is not so. ZCash Coin is still decentralized and uncontrolled. The company remains the governing body but the miners get complete independence, and equality. To mine Bitcoins, you need large computers, and heavy processing power, but with ZCash Coin it is not so. Mining ZCash cryptocurrency is relatively cheaper than mining Bitcoins.

More info about Zcash

Buy ZCash (ZEC)

Users can buy ZCash from popular global exchanges like – Bittrex, Bitfinex, Binance, Poloniex, Coinbase etc. If there are local ZCash exchanges in your country that allow purchasing or trading in ZCash, you can buy ZCash from there using your traditional money. Some ZCash exchanges also accept debit or credit cards. ZCash can be stored easily in multiple wallets. From ZCash online wallets like Jaxx, Electrum etc. to offline paper wallets, storing ZCash is not much of a hassle.

Paper wallets provide the users with a private key. Using that key, the users can access the wallet any time. Online wallets like Jaxx and Electrum provide an easy to remember para-phrase which acts as a secure private key. Storing ZCash Coin is also possible on exchanges but it is not advised to do so, because of the risks associated with exchanges. Mt. Gox is a popular exchange whose security was compromised, and a huge amount of money was hacked out of it. Since that incident, long-term investors have lost trust in online exchanges.

Apart from online exchanges and online wallets, hardware wallets like Trezor, KeepKey and Nano S Ledger are also good options to store ZCash Coin for long-term. Hardware ZCash Wallets are better because the user keeps the entire information to himself, and they are risk-free.

Recommended places to trade Zcash

eToro
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Min Deposit
$50
United States
Key Features
Accepts customers from the USA
Award-winning Cryptocurrency trading platform
Wide variety of crypto assets
One of the fastest growing brokers in the world
Top Coins
  • Stellar
  • Ripple
  • Litecoin
  • EOS
  • Bitcoin Cash
Payment Methods
Wire Transfer, Bank Transfer
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
CEX
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Min Deposit
$200
United States
Key Features
Margin Trading
Legal compliance
Advanced Reporting
Various Payment options
Top Coins
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies
Cex.io offers exchange of fiat currency for Bitcoin and Ethereum, as well as Bitcoin/Ethereum trading against the USD.
Crypto Rocket
Key Features
Crypto and Forex Trading
Same Day Withdrawals
24/7 Professional Support Team
Min Deposit
$10
United States
Key Features
Crypto and Forex Trading
Same Day Withdrawals
24/7 Professional Support Team
Top Coins
  • Ethereum
  • Ripple
  • Litecoin
  • Bitcoin
  • Dash
Payment Methods
Credit Card, Debit Card, Bitcoin
Trade with a trusted market leader with an established track record of economic strength and stability. CryptoRocket is a proven online trading provider, offering trading with a wide variety of cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and more.

Conclusion

ZCash Coin (ZEC) started at a high price of almost 6 BTC back in 2016, amounting to around $4700 a piece. It crashed to more than 99% in no time, as reported by Poloniex, and then the price of ZCash fell down to $2. It was compared to Tulip Mania of 17th century. As of early 2018, the price of ZCash Coin is $450 a piece, and has somehow climbed up the ladder. In future, with possible developments and innovations the price of ZCash might climb up. Rest, every cryptocurrency price depends upon the demand and supply of the coin. Sometimes, rumors also drive the market in such a crazy way that the unexpected happens and the price either tumbles down or hikes up.

Rest, the future is always uncertain, but keeping in mind the technological innovations of future, and changing requirements of upcoming generation – cryptocurrency has a bright future.

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